Bitcoin dice games are probably the most popular Bitcoin powered casino games in existence at the moment. Bitcoin dice was first invented by one of the first Bitcoin casinos to appear, SatoshiDICE.
Bitcoin dice is a very innovative and exciting game, that cryptocurrency gamblers are enjoying playing at the moment. There are thousands of different combinations which can appear whilst playing Bitcoin dice, whereas traditional dice games only feature six numbers to choose from and is not played based on blockchain, like Bitcoin Dice is. Still the probability of dice rolls in a classic dice game applies to all dice related games, including bitcoin dice games. Dice games have always been popular in many forms, so it is no surprise Bitcoin versions of the games are making waves.
This fantastic cryptocurrency game is very simple to play and that is partly what makes it so attractive. It has an easy to understand layout and learning how to play the game is not difficult at all. These dice games have a low house edge, that usually stands at around 1-2%. Rolls are very quick, and the player receives instant feedback. The sites that let you play these games enable the player to choose a precise win percentage and then they have a variable reward, another reason they have become so popular. It is the most simple, raw form of gambling you will find, you pick a number and place your bet.
There are many different strategies that Bitcoin dice players can choose to implement, many similar to traditional forms of gambling strategies. A common bitcoin gambling strategy is the well know Martingale strategy. This involves betting on something that will double your bet, then if it loses simply doubling your stake on your next bet, then if you win go back to your original wager amount and if you lose then double it again. The plan seems simple; however, it often bankrupts players as even if you have just lost 10 times in a row, your chance of winning the next time doesn’t actually increase, it’s exactly the same every single time and you can end up risking hundreds or thousands of dollars to win one dollar back.
Another well-known method is the Paroli system, which actually increases the stake when a win occurs. This is used by some Bitcoin players on popular sites such as PrimeDice. You would double your wager after a win, reset after a loss and reset after 3 wins. There are many other gambling strategies that can be used, that should be researched before using and the player should understand the risks.
Cryptocurrency betting is becoming a big deal and has actually earned more than 3.7 million Bitcoin in just 3 years. This year saw a massive win on popular site Cloudbet of 160 Bitcoin, which is around $255,000. Furthermore, there are some who estimate profits from established bitcoin sites to be in excess of $19.3m.
Bitcoin dice is becoming increasingly popular and can be played on many sites now such as top ones like Betchain, SatoshiDice, bitStarz and Cloudbet.