Dice Betting Games

Gamblers use the Martingale system in games with a 50/50 chance, or casino games with odds close to 50/50. Bitcoin dice games are perfect for the Martingale betting system. You start by betting a single unit on the outcome of the game. Your bet size remains the same if you win, but doubles in size for your next bet when you lose. Dice games are mostly board and gambling games where fortune decides who wins. Players roll the dice to determine the number of steps or money and bonuses each player can get and more. Challenge your friend in the 2 player mode or enjoy a round of a fun card game with the whole family. How about a round of Monopoly, the popular board game about. Roll the Dice in a trusted and provably fair online casino offering x500 payouts. Use faucet for free cash. Deposit and withdraw Bitcoin or CSGO Skins instantly! Beginning of a dialog window, including tabbed navigation to register an account or sign in to an existing account. Both registration and sign in support using google and facebook.

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Nitrogen (review) dice game has an accumulating jackpot which is won by rolling an unlikely series of numbers. Once the jackpot gets big enough it becomes profitable to play for it, because the amount of the jackpot is more than the amount you expect to lose from playing enough to win it.

Positive expected value

In gambling expected value is the amount you can expect to win or lose from a bet on average, given the risk, the mathematical probability of winning and the payout.

If you are betting on the flip of a coin where you win ฿2 if you win and you lose ฿1 if you lose you expect to win ฿2 half the time and lose -฿1 the other half of the time. So on average you expect to win ฿0.5 per flip.

You could still lose on an individual flip, you could still lose 10 flips in a row. But it's a good bet to make anyway because the odds are in your favor, you have an edge. The bet has positive expected value.

Nitrogen's jackpot

Nitrogen's jackpot is won by rolling a number with a 7 in it 12 times in a row (sometimes it's 11 or 13). In the long run you will make money by betting when the jackpot is over ฿3.654 because you can expect to lose ฿3.654 trying to win it.

To work this out we need to know how many bets you need to make until you can expect to win the jackpot and how much money you expect to lose by making that many bets. So let's look at the rules for winning the jackpot.

• Roll a number with a 7 in it 12 times in a row. The 7 can be any of the 4 numbers in your roll such as 70.00, 07.00, 00.70 or 00.07
• Each bet has to be for at least ฿0.001

You can see the full rules, terms and conditions here. As we figured out in this Bitcointalk Forum thread here is how we work out the chance of rolling a number with a 7 in it

This tells us you have a 34.39% chance of rolling a number with a 7 in it. Next we work out how many times you have to roll to expect 12 consecutive numbers with a 7 in them

This tells us you expect to hit the jackpot once in every 365,438 rolls.

The house has a 1% edge so for every ฿0.001 bet you expect to lose ฿0.00001. Next we multiply the amount of rolls by the expected cost per roll

This tells us it costs ฿3.65438 to roll enough times that you can expect to hit the jackpot. As such any time the jackpot is more than ฿3.65438 you should be rolling until it is hit. The succinct calculation is

Sometimes Nitrogen set the jackpot at 11 7s or 13 7s instead of 12, but all else remains equal so the calculation becomes

So if the jackpot is set to require 11 rolls containing a 7 it will be profitable to bet after the jackpot reaches ฿1.257. For 13 rolls containing a 7 it will be profitable to bet after the jackpot reaches ฿10.626.

How to best take advantage of this

The most optimal way to bet in this situation is to use Nitrogen's auto roll betting bot that allows you to set the bet amount at ฿0.001 and roll continuously until someone hits the jackpot. 888 bingo review.

If you find it more fun to bet manually or if you want to try different betting strategies be aware that any bets made for an amount other than 0.001 reduce your edge. Bets under ฿0.001 do not qualify. Bets over ฿0.001 increase the amount you expect to lose (your expected loss is always 1% of the bet) without making you any more likely to win the jackpot than a ฿0.001 bet would.

The settings indicated in the below screenshot of Nitrogen's dice interface are highly recommended for optimal positive expectation betting.

1. Make sure the jackpot is big enough.
2. Set bet amount to ฿0.001.
3. Set payout of 2.
4. Do not limit the number of rolls.
5. On win return to base bet.
6. On loss return to base bet.
7. Stop rolling if you win the jackpot.
8. Stop rolling if someone else wins the jackpot.
9. Disable animation because it slows the rolls.

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On average you will only be losing 1% of turnover until you hit the jackpot. Sign up via our referral link to get entry into our exclusive bitcoin poker freeroll every week!

Get notified every time the jackpot is big enough

We have set up alerts when there are opportunities to gamble crypto with the odds in your favor. Currently there are 4 different alerts which give you a positive expectation of long term profit. The Nitrogen dice jackpot is one of them, the other 3 and the sign up form are here.

You can also get these alerts by following us on Twitter.

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Overview of Dice Gambling Games

You'll find dozens of so-called experts offering you advice on the optimal Bitcoin dice strategy if you search the internet. They all promise you untold riches, sometimes for free, but most often for a subscription fee. Luckily for you, you've stumbled across a website that provides free advice. Better still, we even highlight in inherent risks associated with these Bitcoin dice betting systems.

How to Play Bitcoin Dice

Learning how to play dice with Bitcoin is much easier than it seems. The first thing you will need to do, if you haven't already, is buy Bitcoin. Depending on where you are located, this can be done at a variety of online cryptocurrency exchanges. From there you will need to choose which dice site suits you the best. Variables that you should consider are reliability, bonus offers, customer service, house edge, and of course ensure that they accept BTC as a form of withdrawal and deposit. After you have picked a casino, you will need to send BTC to the Bitcoin address that is provided in your account. Once you have successfully funded your account, it's time to start playing!

Picking the Best Bitcoin Dice Strategy

Bitcoin dice strategy comes in two distinct guises: how to bet and how to determine your bet amounts. There are dozens of possible bets to make in a game such as roulette, but you only have two choices in Bitcoin dice: high or low.

Deciding how much to bet it a little trickier. Several factors come into playing dice, including the size of your bankroll and your aversion to risk. The following three Bitcoin dice betting systems can be easily implemented into your Bitcoin dice strategy.

Martingale Betting System

The Martingale strategy originated in 18th century France and is still hugely popular today. Its simplicity and the fact it portrays being a sure thing are the reasons for its continued popularity.

Gamblers use the Martingale system in games with a 50/50 chance, or casino games with odds close to 50/50. Bitcoin dice games are perfect for the Martingale betting system.

You start by betting a single unit on the outcome of the game. Your bet size remains the same if you win, but doubles in size for your next bet when you lose. Players revert to their initial bet size when they next win.

Doubling your bet guarantees you win back all your previous losses plus turn a small profit when you finally win. It should be easy to see why Martingale is so popular, you're guaranteed to win, right? Wrong, the system is not without its faults.

This Bitcoin dice strategy only works if you assume two major factors. First, you need to have infinite wealth, or an unlimited bankroll. Second, the system assumes there are no limits on the size of the bet you make. Neither of these factors are possible in the real world.

Suppose you have a 63 unit bankroll and start by betting one unit on the first Bitcoin dice game. You only need six consecutive losses to completely exhaust your bankroll, meaning you're out of the game. Losing streaks of six consecutive games is more common than you'd like to believe.

You risk not being able to bet enough to cover your losses. Imagine you now have a massive bankroll, started betting one unit and have lost six games in a row. Your next bet has to be 64 units. Lose that one and your next bet is 128 units. The one after that is 256 units! You can see your bets are growing huge and the Bitcoin casino will have limits in place to protect itself from these bets. Palace of chance.

Paroli

The Paroli system is another popular Bitcoin dice betting strategy and one called a positive progression system. This strategy works in series of three bets with it resetting after the third bet regardless of the results.

You start by betting a single unit. Your bet remains one unit if you lose but doubles if you win. There are eight possible outcomes to the Paroli Bitcoin dice strategy. Five result in losses, one is break even, and two yield profits. One possible outcome, winning all three bets, rewards you with a seven units win.

The main problem with this system is it's zero sum. That means it neither wins or looses in the long run. It relies completely on winning streaks to show a profit, like most betting systems. It is, however, much lower risk than the Martingale system.

D'Alembert

The D'Alembert Bitcoin dice strategy is a combination, or sorts, of the Martingale and Paroli. Again, it's simple to implement and has similar pitfalls as the Martingale.

Start by choosing your base betting unit; let's make it one unit for the sake of simplicity. Increase your bet by your base betting unit each time you lose. Increase it again by the base betting until if you lose again. You decrease your stake by one base betting unit whenever you win.

Dice Games For Betting

For example, you bet one until and lose so you next bet is two units. You lose that so the next bet is three units. The next bet wins so you drop back down to two units.

Test these Bitcoin dice strategies for yourself or even devise your own. Just make sure you gamble responsibly and within your means.

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