Just-Dice.com : Invest in 1% House Edge Dice Game

[MRKLYE]

I am down 2.10.. KLYE is shit outta luck..

Gotta quit gambling.. Getting pounded by depression.. Bad judgements.

Opus is getting paid back on monday through SparkleCoin.. after that I am done.

Been a pleasure guys. :/

[freedomno1]

You guys are reinventing the wheel if you want to diversify the ad campaign buy avatars  
But I think I prefer Dooglus Sockpuppet 

[mechs]

I've noticed a decline in wagered per day volume. I also remember you mentioning that part of the increase in commissions would be spent towards advertising. Have you done any advertising? Are we still losing volume even after advertising?

We've not done any advertising yet.  I feel like it's not worth doing until I've improved the look of the site, and made it easier for new players to get started, or I think visitors would take one look and leave again.

I'm interested to know where you think it would be best to advertise by the way.

reddit tell me they don't advertise gambling sites
google apparently need gambling sites to be licensed in each country their ads are shown in
bitcointalk is relatively expensive with BFL bidding the price of ads right up each week

I would say best bang for your buck with advertisement are bitcoin focused venues (as opposed to gambling).  Sits that come to mind are:
1. asktom.cf (duh)
2. bitcoinmagazine.com
3. Other non-dice gambling sites.

Another strategy is to encourage bitcointalk users to ad the just-dice logo to their signatures for some free advertisement.  Most investors have a vested interest in doing so and would be no cost to you to encourage.

mechs

[mechs]

rent signature space?

That might be a good idea if done properly.

No waste of bitcoins and Doogs time.

Says the man with 2 casino sites in his signature...

[mechs]

rent signature space?

That might be a good idea if done properly.

No waste of bitcoins and Doogs time.

Says the man with 2 casino sites in his signature...

They pay me, I absolutely think its a waste of bitcoins on their part though,imo

Coinroll advertising is based on a massive giveaway, and really has a limited amount of work on his part on a daily basis

Bit777 is based on number of posts seen, but also runs rollover type conditions.

Does getting paid by putting their sites in my signature get me to their site yes, but I am a gambler but a responsible one.  That is the difference in bitcoin land, people dont see BTC as money but have started to with prices raising.

I would definitely add it to my signature if Dooglus gave me what to cut & paste in their so it looked flashy.

[maqifrnswa]

[But imo, those guys right that are the targers are now speculating (gambling) in securities instead of dice rolling games, a lot of upside with a bit less risk.

interesting, I feel the exact opposite - much less risk in this dice game than IPOs. I have no clue who will deliver at what quantities and what the difficulty will be, but here I can calculate expected return (and variance) quite easily.

The only downside risk is whether investments will increase at a higher rate than the increase in gambling (or if investments will divest at a slower rate than gambling slows down).

[qxzn]

google adwords campaign for people searching "what to do with my bitcoins" and variations.

 

EDIT: just saw dooglus already considered google and they have limitations for gambling adverts

[joesmoe2012]

SilkRoad

[drawingthesun]

SilkRoad

Is it possible to advertise on SilkRoad?

[gog1]

I've noticed a decline in wagered per day volume. I also remember you mentioning that part of the increase in commissions would be spent towards advertising. Have you done any advertising? Are we still losing volume even after advertising?

We've not done any advertising yet.  I feel like it's not worth doing until I've improved the look of the site, and made it easier for new players to get started, or I think visitors would take one look and leave again.

I'm interested to know where you think it would be best to advertise by the way.

reddit tell me they don't advertise gambling sites
google apparently need gambling sites to be licensed in each country their ads are shown in
bitcointalk is relatively expensive with BFL bidding the price of ads right up each week

Gambling volume is negatively correlated to BTCUSD prices, just look at SD's prior performance.

[joesmoe2012]

SilkRoad

Is it possible to advertise on SilkRoad?

Not sure actually, was just speculating on where there's people with some BTC they may want to play around with.

[mechs]

SilkRoad

Is it possible to advertise on SilkRoad?

I am sure that won't get us any unwanted attention from authorities...

[dooglus]

Is it possible to advertise on SilkRoad?

I am sure that won't get us any unwanted attention from authorities...

Oh that's good then.  That was my biggest concern about advertising at the Silk Road site.

[mindragon]

Just for laughs I "invested" a small amount. So far, after an hour I'm down -0.00025883

I'll let it run for a bit, but I don't have high hopes. I think some folks have figure out how to 'game' system or something. Or maybe it's just really rotten luck.

MD

[nimda]

Just for laughs I "invested" a small amount. So far, after an hour I'm down -0.00025883

I'll let it run for a bit, but I don't have high hopes. I think some folks have figure out how to 'game' system or something. Or maybe it's just really rotten luck.

MD

You have lost 3 cents and you call it "really rotten luck?"

Tip: there are bottles on the side of the highway worth 5 cents each.

[julz]

Just for laughs I "invested" a small amount. So far, after an hour I'm down -0.00025883

I'll let it run for a bit, but I don't have high hopes. I think some folks have figure out how to 'game' system or something. Or maybe it's just really rotten luck.

MD

Just for some perspective - I was down 15% at one point... and that was for a large number of BTC and it only took a few days to go down that far.
A few weeks later - I'm up over 9%... so yes it's 'luck' - and this investment gives a highly erratic return.
Sometimes the players will win big against the house, and if that wasn't true - then there probably wouldn't be many punters.
The maths says in the long run you should expect to come out ahead, but still, the luck could put you in the red for a long time.

[mindragon]

Just for laughs I "invested" a small amount. So far, after an hour I'm down -0.00025883

I'll let it run for a bit, but I don't have high hopes. I think some folks have figure out how to 'game' system or something. Or maybe it's just really rotten luck.

MD

Just for some perspective - I was down 15% at one point... and that was for a large number of BTC and it only took a few days to go down that far.
A few weeks later - I'm up over 9%... so yes it's 'luck' - and this investment gives a highly erratic return.
Sometimes the players will win big against the house, and if that wasn't true - then there probably wouldn't be many punters.
The maths says in the long run you should expect to come out ahead, but still, the luck could put you in the red for a long time.

Yep it seems to be that way. Now I'm up 0.00010321

It is really interesting to watch the laws of statistics at work.

MD

[dooglus]

Yep it seems to be that way. Now I'm up 0.00010321

It is really interesting to watch the laws of statistics at work.

Maybe some charts will help give you a sense of how the site profits tend to move around:

1. all time



2. the last month



3. the last 2 weeks



4. the last few days



I've changed the graphs so they plot the profit every 10 seconds (it was every minute before, which was causing lots of spikes to be missed out) and also the vertical gridlines are aligned with commission runs on the first 3 charts.

[mindragon]

Yep it seems to be that way. Now I'm up 0.00010321

It is really interesting to watch the laws of statistics at work.

Maybe some charts will help give you a sense of how the site profits tend to move around:

Hi,

Can you clarify what the definitions are of each of the lines? I'm not altogether clear as to what they exactly mean.

1%, 1% / 3900 BTC, Profit

Thanks!

MD

[dooglus]

Can you clarify what the definitions are of each of the lines? I'm not altogether clear as to what they exactly mean.

1%, 1% / 3900 BTC, Profit

Yeah.  The profit line is the total amount the site has won from gamblers since launch.  So it's also how much the investors would be up if I didn't charge commission.

The 1% line shows 1% of the total amount wagered.  The site has a 1% house edge, and so the 1% line is where we would expect the profit line to be.  As you can see, we're nowhere near it, due to a bad run against "celeste" early on.

The "1% - 3900" line is parallel to the 1% line, but 3900 BTC lower.  After being 4k down, we expect to stay 4k down.  The law of large numbers says that profits will approach 1% given long enough, but that's not because the 4k shortfall gets recovered, it's because the 4k shortfall becomes increasingly insignificant as the profits increase.  Plotting the 1% line on all the charts would cause lots of the detail to be lost, so I draw in a parallel line, closer to the actual profit which allows you to see how we're doing this week relative to how we 'should' be doing.

Is that clear?  I can try again if not.