Sunday, November 2, 2014

Primedice - play dice with bitcoin

So do you want to test a simple betting strategy in a real life environment without any programming ? Just head to Primedice and make a free account. Primedice is a "online casino" which only overs one game. Sounds like a game of dice but it's more of a coin flip where you can select the chance of winning and the casino will adjust the odds. There is always a house edge of 1%. Funny thing is that they offer automated betting. Which let's you play martingale for example. So double your bet after every loss and see how long you last until it wipes you out. Remember you can change the chance of winning to be more than 50% but the payoff will be adjusted too.

I thought I found a bug in there system when I discovered that the payout for a bet of 0.00000005 and 90% was still 0.00000001. But the problem was that the displayed value was already rounded while the internal system uses at least one more digit to calculate your actual winnings. So no easy money there...I'm still checking out various betting sizes and win chances to test for rounding errors which might lead to +EV situations.

But never the less you'll get some free bitcoins (well actually fractions of bitcoins) ever time your account runs dry. If you want to start and test your strategies with more the 500 satoshi (smallest fraction of BTC) that Primedice gives you you can also get free BTC from bitcoin faucets .

I'll use this post to keep track of my Primedice account level and faucet payouts:

Level 1 - faucet pays 500 - 539  - claim every 3 minutes
Level 2 - faucet pays 540 - 579    claim every 3 minutes
Level 3 - faucet pays 580 -
Level 4 - faucet pays 640 -
Level 5 - faucet pays 780 -
Level 6 - faucet pays 840 -
Level 7 - faucet pays 900 -
Level 8 - faucet pays 980 -