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Investing On Bitcoin Casino: BitDice.me

The third pick of our experiment was Bitdice.me, which accepts altcoin, and we particularly wanted to try Ethereum investments ( along with Bitcoin ). We had to raise our bankroll because the minimum amount requirement was higher than previous ones for both currencies, particularly for Bitcoin (10X that of the sites we had tried so far: 0.1BTC).

As usual, we placed our coins there for a week. Here again we had the chance of choosing the risk factor, which we set 1X. Even though our investment was bigger, our share in the site’s profit was less than 0.001%. It is due to that the total BTC invested in Bitdice is much higher than in other sites (2500 ~ 3000 BTC).

How did our investment behave?

We had good results again , getting profit out of our investment. Bitdice probably dones’t perform perfectly recently. The variation in the profit was a bit abrupt, vary from almost-zero in some days and to where our profit plot shows a very steep slope (particularly, between days 5 and 6). Our final profit was around 0.35%.

invest bitcoin in bitdice and get profit

From the figure we can see how our investment performed and it is stable or increasing steadily. While a 7-day investment period is not long enough to generalize a decent amount of profits. And it is a bit difficult to spot the potential losses from the graphic (i.e. they were negligible).

Why and why not invest on Bitdice?

This site is very particular; it suits better for investors who are looking for lower risk and stable return. We are not talking only from the perspective of our investment, but doing the basic Math: With nearly 3000 BTC raised from investors, you would need to put a few hundred USD worth of BTC to have a significant percent of participation in the bankroll. So, unless you own a couple of BTC which you are willing to invest, you will only see slow moves in your investment (less profit, but also a smaller downside risk).

An useful feature, available both for the investors and the gamblers, is the built-in swap option, which allows them to do the exchanges in site basedon Bittrex rates. This can be useful, for example, if a user do not have enough BTC to invest; just swap it to any of the other coins (which have a minimum investment about 5X lower, in USD terms) and keep going. While the site is mainly focusing on dice (hence its name, BitDICE), it offers two other games including an innovative “slope” game, that reminds of binary options; that, besides to the recent updates on the site, has the potential of bringing more players and generating more profits.

invest in bitdice and get profit
Figure 1. The accepted coins and the built-in swap option

The site provides a personal, interactive investment chart which you can check even after divesting. With it, you can keep a closer eye on your coins while they are invested. Regarding fees, they use a different approach to comparing with other sites: They charge 0.02% fee (20% of the 1% house edge) to their investors in every bet, that is a downside from the investor’s point of view (they take the fee even if the player wins, in such case the investors would take an additional loss to ensure the house always get some profit. You can confirm that on their “INVEST” FAQ).

While browsing the site, it is quite frequent to spot connection errors and some elements are not functioning well. There have not been any reports of security issues, but such errors are affecting users’ experience. Like most sites, Bitdice lets you enable 2FA, it is highly recommended to activiate this option.

invest in bitdice and get profit
Figure 2.Errors, errors everywhere.

Proof of funds

Bitdice has two cold wallets: 146syqE3vnfQp4VauBRUnUuAgvxMoitxcK and 1P8yKwe4LMRfy1kCBgC97w6Z3D3cNLYbxg, even though it is possible to find them via a quick Google search, they are neither listed on their (current) official Bitcointalk thread nor on their “HELP” section / FAQ.
Tips for investing on Bitdice.

We already suggested investing on the site if you are looking for lower risk. There is little chance that a big bettor (“whale”) rip off a high percentage of the bankroll, but the bet limits and the total coins in it make it less prone to affect the investment.

On the other hand, if you want to seek more profit, either modify the risk factor or simply swap your BTC to any altcoin (with a lower bankroll) an go with it. Since ETH was added less than a year ago, it still offers the possibility of getting a decent share on the site with lower investments; you can have a brief idea of how ETHER is behaving from our data below.
Do we have to mention once again that you should try to leave your investment active for longer periods in order to benefit from the house edge? Bitdice is not an exception to the rule.

Investing Altcoin: Ethereum on Bitdice

As we already mentioned, we had to double the amount of Ethereum to invest on Bitdice. We put 1 ETHER for a week, which gave us a 0.01256 % share on the site’s bankroll (more than 10X of what we got with our BTC investment, whose value is more than 5X ). So our profit was higher as well. You can see the detailed information on the chart below. The first two days were particularly good for us.

invest ethereum in bitdice and get profit

If we compare this figure with Crypto-games’, the profit for Ethereum was (in relative terms) lower , along with its variance. The former is not exactly appealing for any investor, but the later supports the claims that investments in Bitdice are a slightly less risky. Our final profit was around 1%, not bad at all for a one-week period.

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