Bitcoin dice 101

The reason dice is so popular is because it’s so simple. Here is how it works.

  1. Enter your bet size.
  2. Enter a number you will bet to roll over or under.
  3. Selecting if you want to try to roll over or under the number you selected in step 2.
  4. Roll a number between 0-100.
    • If your bet wins you get paid according to the bet’s probability less the house edge.
    • If your bet loses there is no payout.

Example

Bet size: 1 mBTC
Number to roll over or under: 50
Over or under: Over

Variation 1 – Roll: 78
78 is over 50 so your bet won. It had a 50% probability, the house edge is 1% so your payout is 1.98 mBTC and you won 0.98 mBTC. See how that is calculated below.

Variation 2 – Roll: 12
12 is under 50 so your bet lost. There is no payout and you lost 1 mBTC.

Payout, profit and house edge

The site will show you your potential payout before you bet for any bet parameters you enter into the interface. If you want to understand it fully the payout multiplier is


Payout % / chance of winning

Almost every bitcoin dice site has a 1% house edge. This means you will get paid out 99% of the true probability.


99 / chance of winning

If you bet that you will roll over 75, you have a 25% chance of winning so your payout multiplier will be


99 / 25 = 3.96

But what are we multiplying? The bet of course! So if you bet 2 mBTC your payout will be


99 / 25 = 3.96 x 2 mBTC = 7.92 mBTC

Remember that 2 mBTC of that was yours to start with so subtract it from your payout to work out your profit. This bet’s profit would be


7.92 mBTC – 2 mBTC = 5.92 mBTC

How can I know the site is not ripping me off?

Please see our page about provably fair gambling.

Is it legal?

Please see our page bitcoin gambling laws.

What about investing in the house bank?

Please visit our page house bank investment explained.

Where should I play?

Please check our bitcoin dice reviews.

Good luck and have fun!

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