One of the most enjoyed online games is dice, and more specifically, bitcoin dice. This is well-liked amongst avid online gamers because it is both easy and rewarding — back in 2016, the record win for bitcoin dice was 250 BTC — won with a single dice roll.
THE 1ST GAMBLING GAME ON THE BITCOIN NETWORK
Dice is the first featured gambling game on the bitcoin network. Therefore, dice games were and still are the corner stone of the bitcoin gambling industry. These games didn’t only enable the development of bitcoin gambling, but served to develop many other unique gambling features, and even served to highlight some of the now widely known shortcomings of the Bitcoin network.
Bitcoin dice is based on blockchain technology, although the probability of dice rolls remain the same as classic dice games. All players must do is predict whether the dice will roll high or low, but this simple gameplay does not mean it is not a challenging, exciting, and rewarding game that can often be improved upon with a viable strategy. There are many strategies out there, but three can be considered the most popular for bitcoin dice games.
The development of bitcoin dice games, and features such as the provably fair feature, have driven gaming developers into the bitcoin scene. Now there are exclusive games designed only for bitcoin users. The fact that dice was the first game that was played on blockchain, also highlighted the great opportunity that bitcoin opened for players around the world to play freely using bitcoin. This allowed the industry to grow and take on markets that are completely blocked out from fiat gambling.
Secure gambling, unique games, truly free international transactions, high security features that make sure every roll is fair, and the lowest house edges in the online casino industry, make bitcoin dice a great choice for entertainment.
TIPS & STRATEGIES
This is a popular betting strategy as it is quite basic and can be used on a variety of games. Using the Martingale betting system, players will progressively increase their bets while losing and return to the original bet with every win. The first step is to make a bet of a single unit and if you win, continue to bet with the same amount. If you lose, then double the amount of your next bet. When you win again, you must then go back to your original bet amount. The system of doubling on a loss means that you are able to win back your losses, although this method can be risky if you are on a losing streak.
· It’s easy to implement
· Earn short-term profit
· You have control over the amount of money being wagered
· If you hit table limits, you won’t be able to double your bet after you lose, and the chance to win back your losses is gone
· The risks are higher than the rewards
· You need a large bankroll in order to guarantee success
The Paroli method is another simple bitcoin dice strategy that goes in the opposite direction to Martingale. Instead of doubling your bet on a loss, you double your next bet after a win. If you lose or manage three consecutive wins, you reset the bet amount. This strategy works for low risk players looking to take advantage of a lucky streak.
· Ideal for low risk players as there is no need to make large, risky bets
· Allows players to take advantage of their winning streaks
· It does not require a large bankroll
· You need to be on a winning streak to see returns
· Since winning streaks rarely last long, this method usually generates short term profit
The D’Alembert method is almost as popular as Martingale and is a more cautious approach than other betting strategies. It is an easy to implement strategy that requires you to start off by betting one unit and every time you lose, you increase the wager by one until you win again. When you win, you decrease the wager by one unit, if possible.
· Less risky than the Martingale strategy
· Allows for a more structured betting system to implement in your game
· Players may not win back all losses in one round
· Possibility of not being able to recoup your losses at all
· Low risk betting strategy means potential winnings are low compared to other strategies
Are betting strategies effective?
While betting strategies can be an attractive option for both new and seasoned players, it is important to remember that nothing is fool proof. Mathematically, no strategy allows you to beat the house, but since dice is a game of odds, it has potential to really surprise even the most discerning players. That being said, here are a few things to consider:
· Get familiar with the various dice games — ask yourself questions like what is the house edge and what is the maximum profit you can achieve
· Learn about probability — many dice games depend more on chance than skill, but calculating the odds and probabilities can definitely improve your winning chances
Tips on playing bitcoin games
While the iGaming scene can be thrilling and enticing, carefully read these tips before you start placing those monetary bets.
1. Only play with provably fair websites — always stick to websites with provably fair games as you can verify if the game is fair or not. The chances of a game that has not been proved provably fair being rigged is quite high, so try to avoid them at all costs, no matter how attractive the website is or what opportunities they claim to offer.
2. Always play with a budget cap and stop when you’ve reached it — The most important rule of online gambling is to stop when you can no longer afford to lose.
3. Know your limits — Don’t be greedy. It is easy to get caught up in the appeal of winning big, but stop when you think you have made a reasonable profit. Betting non-stop only increases your chances of losing.
While gambling strategies aren’t a sure-fire way to win, it’s smarter to consider how you plan on winning while playing a dice game, rather than placing bet after bet.
Thankfully for all of us who enjoy letting our hair down a little when the wife is not paying attention, there is finally a trusted site that ranks and reviews the Best Bitcoin Casinos & Sportsbooks. Now we bet with assurance that we know the odds and where we can play if we’re located in the United States. Better yet, if we actually win money we can have the assurance that we can actually withdraw our winnings safely and fast.
Top Online Bitcoin Casinos is a third party that ranks the online Casinos that allow players to bet using cryptocurrency and cash out in cryptocurrency or fiat (cash). We test the so called “Top Online Casinos” for transparency, odds to win, gameplay, player bonuses & withdrawal speeds.
With blockchain and digital ledgers we also can make sure the Casino’s aren’t robbing us blind like in the past. Cryptography and the blockchain enable us as players to check and see if the games are Provably Fair and also verify their claims on the blockchain.
A Word To The Wise..
Be Careful With New Platforms
With the growth of bitcoin network, so did the number of casinos turning out to be complete scams. Bonus promotions by new players in the market often seem to be “too good to be true”. Unfortunately, if you have that feeling when looking on new gambling platform, in most cases, you would be right. So, make sure to check out acouple of facts about the website before you decide to invest your funds:
- gambling platform holds a license for its operations, issued by the governmental agency;
- owners of the company are known to the general public, with clearly stated location of headquarters
- proof of insurance of funds and/or cold storage of coins
- customer reviews already available in the crypto communities.