I’ve been learning more about BetDice over the past few weeks, and have been extremely impressed with the structure of this game. Specifically, profit sharing via payouts, paid out to users who have staked their DICE tokens, and their method for distributing these (DICE) tokens. Details relating to staking are outlined lower down in the article.
The game is simple — and classic. Choose a number, and try to roll (using number generator) a number lower than the one you’ve selected. You can select any number 2–96 to roll under; your payout varies based on your win chance. It’s a very easy game to understand, and even easier to play.
You also will receive 1 Lottery Ticket per token wagered, for their respective Lottery Pool (e.g. 10 EOS Lottery Tickets for a 10 EOS wager; 5000 DICE Lottery Tickets for a 5000 DICE wager). Read more about BetDice Lottery here.
The game is provably fair — it uses a cryptographically secure pseudorandom number generator. Each play is calculated using 3 parameters — the server seed, client seed and nonce. This gets a bit more complicated, so to remain concise, if you want more details on this, see the whitepaper.
There’s also “Lucky Draw” that can be played for free once per day, with a chance to win up to 50 EOS. You’ll mostly win 0.0005 EOS, but free is free! You’ll also get an additional draw for each time you play with 1 EOS or more, capping at 10 draws. These additional draws can be used once per hour.
DICE tokens are “mined” by playing the game
- Currently, you receive 12.5x DICE per EOS bet placed — even if you are rolling for “Under 96”
- This rate halves after every 5% is “mined”. The rate started at 100x.
House edge is reasonable (1.5%), and is distributed mathematically assuming there is a 1.5% profit on every wager is placed, instead of based on changes in bankroll. Mathematically, it is no different, but this method eliminates any deviation and allows payouts be processed more efficiently, and even if the house suffers a loss in a given period. Below are the calculations on how the house edge is distributed every time a wager is placed:
- 0.2% goes to the referrer as a Referral Bonus. This pays directly to the “Account Balance” tab in the “Payout” menu.
- 0.00–0.15% is paid to the bettor as a VIP Bonus, depending on VIP Level. This is also paid directly to the “Account Balance” tab.
(See the VIP menu in the upper right for details on the different levels).
After the Referral Bonus and VIP Bonus are subtracted, 10% of the remaining goes to the Lottery Pool. This can range from .115% to .15% depending on if there is a referrer, and depending on the VIP level of the bettor.
This leaves 1.035%-1.35% to be distributed. We’ll call this “Net Profit”.
- 50% is paid out to those who have DICE staked (“Profit Payouts”).
- 40% goes to increase bankroll. This allows for larger bets, attracts more users, and can support more games in the future.
- 10% goes to operating costs. This includes staff, marketing (contests), and other development-related costs.
- 50% of Net Profit is paid out to those who have DICE staked, every hour. See above for how Net Profit is calculated.
- This calculates out to between 0.5175% and 0.675% of all wagers. The exact percent depends on the VIP Level of the bettor, and if there is a referrer.
- Payouts are paid in any token that you can use to play (currently EOS and DICE) e.g. EOS profits paid in EOS, DICE profits paid in DICE.
1. Tokens must be staked via the BetDice Website in the upper right in the “Payout” menu → “Stake” tab in order to receive a share of the Profit Payout. You will not be able to use your DICE for anything except receiving payouts while they are staked.
2. You can unstake at any point. It will take 24 hours for the unstaking process to complete. If you unstake additional tokens while the unstaking process is already in process, the 24 hour timer will restart, for all tokens being unstaked
3. You will not get any payouts while unstaking (just as you do not receive EOS resources while unstaking). This may change.
4. Payout is paid hourly to your “Account Balance”. You can claim anytime.
5. There is about a minute or so every hour where you cannot stake, while the payout is being processed
6. Platform balance can support up to 10 decimal places. You won’t lose your deserved payout even you are just a small ratio of staked tokens
7. Auto payout feature will be available soon, but there is no ETA ATM
DICE is now listed on the following exchanges:
They are working to allow many different tokens to be used — this will allow increased flexibility to users, and more uses for our airdrops.
Currently, BetDice is the #1 App on DappRadar by daily volume — and growing steadily.
Whitepaper: PDF available to download on Telegram