One of the most interesting investment you can make with your stash of cryptocurrency is to invest it in casino games. Most notably dice games. But you won’t be a gambler (gambling is one the worst investment you can make), it’s better being the bank and always win long term right ? This is a new concept called “crowdfunded bankroll”. On a classic service, only the owner can be the house and expect a profit long term. Crowdfunded casinos are very interesting in the sense that anyone can invest in it. And that’s made easily possible only with Bitcoin (and altcoins) and a little bit of probability mathematics ! Dice is the most famous game available and works kinda like roulette.
The risks ? Well it’s simple as well : the owner can do a “runner” with the bankroll. It can be tempting to fly away with hundreds of thousands. The other one being “whales” or the big and rich gamblers. While the house always win long term (based on probability), it can lose short term and a lucky “whale” can either wipe out a big part of the bank or boost the profit in only one bet. The authorities are another threat to your stash. We saw it recently with the Nevada-based bitcoin poker site Seals with Club. The owner could also die or have another personal problem (those websites are often running with only one person) .
Here are the websites that I trust the most (I recommend you to stay away from the others) :
- Just-dice is probably the most trusted dice website in the Bitcoin space because the owner is very active for a long time. It was using Bitcoin once, but the service was so popular that very rich people where betting there and the crowdfunded bankroll was worth millions of dollars. Well, while success is not bad, the website is operating in a grey area and the authorities could have been finding a way to shut it down. Dooglus, the owner, couldn’t really sleep well so he decided to shut down the website (giving back the money to investors) and then use a “smaller” crypto named “CLAM” relaunching the website that would protect in a sense from very big whales and authorities (who are busy with Bitcoin for the moment). CLAM is very interesting because it’s “Proof of Stake” so the website is paying you interests for just holding some money in the bankroll and it can save you from small losses.
Downside ? CLAM is kinda volatile and could collapse (but it’s one of the steadiest altcoin) and the volume is averaging ~5000$ a day on exchanges, that can repel big investors. Also CLAM was distributed in all Bitcoin, Litecoin and Dogecoin addresses that were holding “more than dust” before May 2014. If you owned one of these cryptos before this date, you own CLAM (and some lucky bitcoiners had thousands of them).
Just-dice have features like an emergency wallet address for your coin to be transfered safely into your personal wallet in case of a bad situation. I also recommend to use the 2 factors authentication with Google Authenticator to prevent any hack attempt.
Another very interesting feature is the “offsite” investment. You can leverage (multiply) your investment on the website by up to 25 which makes it more at risk but it will also get a bigger percentage of the profit. See what kind of risk you are willing to take or not but remember, even if you highly leverage, other people do it to so your investment is quite diluted. Some people are using Just-Dice to get the stakes (interests) without taking that much risks by turning off the leverage. The interests from staking are only on what you really have invested, not the offsite investment. Other cautious investors can use the leverage to keep most of their coins in their wallet while risking a very small part of their stash. Be careful to save your account by setting the log in option !
Just-Dice had a problem once (when it was using Bitcoin) because of the owner’s mistake, unfortunately it was human-made and nothing could be done to fix it. It’s the only mistake that JD made so far and I’m sure Dooglus won’t do it again (he’s losing money as well).
- Mega Dice (previously Satoshi Dice) is probably the biggest website when it comes to bitcoin dice betting. It’s been here for a long time and I think we can trust it. Investment option is pretty straightforward, but the profits for investors are gradually getting lower and lower due to the service’s choices (lower house hedge, lower share of the profits).
- Bitdice.me, I would say, is the third most trusted website. The interface is very appealing and a lot of coins are available. If you invest in CLAM, you’ll also get interests like on Just-Dice (but probably less). Invest with caution though, I would trust this website but not as much as Just-Dice.
A very good example on what you can expect from a dice website is the profit chart, for example the one from Just-dice. As you can see, the website is mostly in profit, even upper than the expected profits (green line). But some lucky whales can take a big percentage of the bankroll.
Remember : do the math, experiment, research and invest if you think the profits overcome the potential risks and invest only what you are willing to loose ! You will be an investor in websites that are not regulated nor insured.
Disclaimer : I can’t be held responsible for any loss encountered using these services. Sometimes the links are affiliates links. It can often provide you a discount and help me running this website. It does absolutely not influence my reviews and opinion.