Bitcoin Dice
Bitcoin Dice is a simple game that can be played at sites specifically for that title or at many cryptocurrency casinos. There are varying odds and payouts for each virtual roll of the dice and those are all up to you in the number that you choose.
You can find many Bitcoin Dice games online with a wide variety of stakes. Considering Bitcoin is the currency used the deposits have an instant processing time and withdrawal processing times are very fast and in some cases can be instant. It is advantageous to play at a solid Bitcoin website, so you should do some research beforehand to pick a good one.
Bitcoin Dice - How Does it Work?
Bitcoin Dice is an easy game to learn, as you are picking a number and then choosing if the virtual roll will go over or under that number for that betting round. There will be games that have numbers from 1-100 to the hundreds of thousands. The most popular version that you will find the most often is played with 100 numbers.
The site offering the fun game will give you the option to either Roll Hi or Roll Over and Roll Lo or Roll Under. You pick a number, which is called the Chance, and you choose the number depending on the number range is for that specific game.
Once you pick the Chance, number, you can then place your bet for that round. Then the site will come up with a random number for that round using a Random Number Generator (RNG). Then you bet if you think the roll will go over or under it. Before you sit down for a round you should know the betting limits of that game.
When you pick a Chance the site will also show you the odds of winning and the payout, as they will differ. The lower the odds are the higher your multiplier will be and the better the payout. On the other side of the coin, no pun intended, the higher the odds are the lower your multiplier will be and the lower the payout. The number (roll) comes out and you see if you win or lose the round, depending if you wagered over or under the Chance.
In a basic example of a round if the Chance is 45 and the roll is 60 you will win if you bet the Roll Hi and lose if you bet the Roll Lo. 60 is higher than 45, so the Roll Hi is the winning wager, obviously. You will either collect the bet if you win or it is taken from you if you lose, and another round begins. For a new betting round you can either stick with the same Chance of pick a new one.
Let’s look at another example with the multiplier and payouts using a 100 Bitcoin Dice game. For the typical 100 number games, most gaming sites will not allow you to pick a chance number of more than 95 and less than 4. If 4 is the Chance number there is a 4% chance of winning with a multiplier of 24x your bet. If you to go for a big payout and choose the Roll Lo the number that comes out has to be 1, 2, or 3 and you will get a sweet payout. Conversely, using the 4 Chance number, if you bet the Roll Hi 95 numbers can come out for a win for a chance of winning of 95% but the payout is low only around 1.03. If your number is right in the middle, say 50 for a 100 number game, you have an 50/50 chance of winning, which will give you an even payout.
Can You Make Money from Bitcoin Dice?
You can make money playing Bitcoin Dice and if Lady Luck is on your side you can win a lot of it. However, it all depends on how much you wager and how correct your picks are. The game is one of high risk and high reward, as the lower your odds are the more you will be paid out. You can make plays where the odds of winning are much higher, but the payouts are lower.
You not only need to know the betting limits for a certain game but also what the minimum and maximum deposits and withdrawals are at the casino as well. If you are a high roller then look for a site that has higher betting limits. On the flip side, if you are a low-stakes player look for a site that has low betting limits for the games offered.
Considering that the site will randomly choose the number in a betting round there is no way to alter the odds in your favor. However, there are some things you can do in the form of betting strategies that may increase your chances of winning more money. Some of those strategies will be explained in detail later in the article.
Gambler’s fallacy
When you are playing Bitcoin Dice you must avoid gambler’s fallacy. According to Wikipedia, gambler’s fallacy is, “Mistaken belief that more frequent chance events will lead to less frequent chance events, or vice versa, to balance out.” Since the game is a random one the new number coming out, rolled, for a round is not impacted in any way by the previous roll. If you are playing a Bitcoin Dice game with 100 numbers and 80 and above comes out nine straight times it does not mean that there is a greater chance that 80 or above will come out in the 10th round. If you are playing for money make sure not to fall for gambler’s fallacy, as it can cost you money.
While the game is rather simple you need to really know the game and the betting structure before you play for real money. Many sites and crypto casinos will allow you to play for free. This is a great option for beginner players as well as those that want to get to know the casino and how the games operate. It is also nice for people that simply want to play for fun.
It is also a good idea to play for free if you plan on using a new betting strategy. This way you can try it out and it will not cost you anything. If you like that strategy then you can implement it when you play for real money. If you do not like it you can try out another one and it will not cost you anything.
Where Can You Play Bitcoin Dice
You can play the game at Bitcoin Dice sites or crypto casinos that offer it. A Bitcoin Dice site will exclusively have that title while crypto casinos will also have other gaming options such as slots, table games, and live casino titles. If you only want to play Bitcoin Dice then a site that has it exclusively will be a better option with more games available and a wider variety of stakes. If you want to play other titles as well, a crypto casino is a better option.
Many gaming websites that offer Bitcoin Dice will also have bonuses and promotions. However, while they can be lucrative you need to make sure that you can fulfill the wagering requirement in order to keep the bonus money.
It is also important that you see the games are provably fair. Look at the website and what measures are taken to ensure fairness in their games. Other things that you need to check from a Bitcoin Dice site or crypto casino are if they have a good 24/7 customer service department, the various games and stakes offered, and the minimum and maximum deposits and withdrawals.
It is not hard to find a gaming site that offers Bitcoin Dice and if you do a little homework you can find one that covers all of your needs.
From Where Can You Play Bitcoin Dice
You can play from your desktop or mobile device if the site you play at has a mobile version. Wherever you have an internet connection you can play the fun and possibly lucrative game. Most crypto casinos and Bitcoin Dice websites will offer a mobile option.
You will either have to download an application or you may be able to play directly from your browser. Either way in the mobile version you can play wherever you are through your phone or tablet.
Best Bitcoin Dice Strategies
There is not a real answer for what is the best Bitcoin Dice strategy. There are quite a few out there and they are betting strategies that are typically negative and positive progressive ones. No strategy can alter the odds of the game since the numbers virtually rolled are chosen by an RNG.
Let’s look at the three most popular betting strategies of Martingale, Paroli, and D’Alembert. For these three and most ones for Bitcoin Dice they are for even payout bets, so using a 100 number game betting over or under. 50.
Martingale Strategy
The Martingale strategy is, arguably, the most popular and it is very risky as well. Here is how it works:
- Make your bet
- If you have a winning bet then repeat the same betting amount. If you lose double your bet for the next round to recoup losses.
- If you lose the next bet double your betting amount again and keep doing so until you win. Once you do win then go back to betting your original stake.
The Martingale strategy is risky in that if you hit a losing streak it will be costly to recoup losses, as you are continually doubling your wager after a loss. If you use this strategy make sure you know the betting limits. If they are on the lower side than if you hit a losing streak your wagering amount may exceed the game limit and the strategy will not work.
Paroli Strategy
The Paroli strategy is just the opposite of the Martingale, as you increase your bet after a win. In this strategy you start with 1 unit and if you win you double your next bet. After you get three wins in a row you go back to betting your original stake of 1 unit. For example, you bet 1 unit and you win. Then you bet 2 units and win again. Then bet 4 units and win again, so after the three wins you go back to wagering your original stake of 1 unit.
This strategy is based on taking advantage of winning streaks and there are eight different outcomes, as five will result in losses, one breaks even, and two give profits.
Here are the eight different results:
| First Bet | 2nd Bet | 3rd Bet | Result |
|---|---|---|---|
| -1 Loss | -1 Loss | -1 Loss | -3 Loss |
| -1 Loss | -1 Loss | +1 Win | -1 Loss |
| -1 Loss | +1 Win | -2 Loss | -2 Loss |
| -1 Loss | +1 Win | +2 Win | +2 Win |
| +1 Win | -2 Loss | -1 Loss | -2 Loss |
| +1 Win | -2 Loss | +1 Win | Break even |
| +1 Win | +2 Win | -4 Loss | -1 Loss |
| +1 Win | +2 Win | +4 Win | +7 Win |
D’Alembert Strategy
The D’Alembert strategy is a popular betting one that is not very risky. It is a little bit of a combination of the Martingale and Paroli strategies. You begin by picking an original stake (unit). You increase your bet by 1 unit each time you lose and decrease it by 1 unit every time you win. For example, you bet 1 unit and you lose, and then your next bet is for 2 units. You lose that bet, so your next bet is 3 units and if you win that one your next bet is for 2 units.
The D’Alembert strategy is less risky than the Martingale, as you are increasing only by a unit rather than doubling your bet.