Bitcoin betting games
How It Works:
- SatoshiDice is a very simple betting game: imagine a die with 65536 faces. You decide a threshold. For example, 12000. The die is thrown. You win if the number it shows stays under the threshold you chose. You lose otherwise.
- The lower the probability to obtain a number under the threshold, the higher your reward will be if you win.
- You can place bets by sending bitcoins to one of the bitcoin addresses shown at the homepage of SatoshiDice. hreshold. So, if you send 1฿ to the address 1dice97ECuByXAvqXpaYzSaQuPVvrtmz6, which is the one for a threshold of 32768, you are betting that the number shown by the die will be under 32768. If this happens, you'll win 1, 957 times 1฿, or 1, 957฿, minus 1, 9% that keeps the house, minus bitcoin network transaction fees (in case they are applied). If the number is over the threshold, you lose and
to add insult to injurySatoshiDice sends you a satoshi (which is 0, 00000001฿). - Being the most popular Bitcoin betting game, there's a lot of conversation about it among bitcoin users. Check this thread. And this one too.
Here I sent 0, 01BTC for a threshold of 32768...
Transaction sent (with a hefty 1500µ฿ fee...)! Now my luck is on Satoshi's hands!
Best Strategy: