Key Takeaways
- Crypto dice games have become a major part of the growing blockchain gambling industry, combining the ancient pass-time of betting on dice rolls with cryptocurrency.
- These games are simple to play, provide a high degree of privacy for players, and often allow players to verify the integrity of each game using Provable Fairness.
- Thanks to their blockchain foundation, crypto dice games offer instant payouts and are widely accessible to billions of users globally.
- As with any type of crypto betting, it is essential to do your own research before engaging with crypto dice games, verifying the license reputation of the platform operator, and checking whether they use Provably Fair technology.
Crypto dice games are simple online bets that let traders wager on the outcome of a virtual dice roll. They are simple to play, have a low house edge, and incorporate provably fair data to verify results.
Additionally, they eliminate most cons of traditional casinos by ensuring instant deposits and withdrawals, providing global access, and ensuring transparent randomness.
Crypto dice games are an important part of the global gaming industry, which is expected to grow exponentially in the coming years. Estimates show that the crypto gambling market will have a compounded annual growth rate of 15.1% by 2031.
What Are Crypto Dice Games?
Traditional dice games involve rolling physical dice, with players betting on the outcome. Crypto dice games are a blockchain-based version of this traditional game of chance. They generate dice rolls digitally, and instead of betting with Fiat, players use Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies.
Crypto dice platforms use digital dice to generate a random number between 0.01 and 99.9, with players betting on the outcome. For example, a player might set a target number of 40: they will then aim to predict whether the outcome of the dice roll will be “over” or “under” 40.
The Shift from Traditional to Digital Dice
While conventional, physical gaming is still popular, digital iterations have exploded in recent years, with the market growing rapidly during the COVID-19 pandemic.
And it’s no surprise: igaming is easily accessible to anyone with a smartphone and internet connection, offers 24/7 gameplay, and entails far greater jackpots thanks to its global audience.
Why Crypto Dice Games Are Rising in Popularity
The growing popularity of cryptocurrencies has also helped to supercharge this transition. Blockchain’s anonymity, ease of play and lack of borders have all contributed to the rise of crypto gaming.
Crypto Dice Games Allow Privacy
By leveraging cryptocurrencies like Bitcoin and Ethereum, crypto dice games provide a greater degree of privacy than fiat gambling tables. In most cases, crypto dice sites don’t ask for a lot of personal information – only your digital wallet address is required.
Instant Payouts
The games also offer instant payouts, with blockchain deposits and withdrawals taking a few seconds or minutes. This is different from fiat based online gaming, where bank transfers and card payments can take days.
Additionally, leveraging cryptocurrencies reduces transaction fees, with the average cost of most tokens being negligible.
Accessibility and Global Reach
Cryptocurrencies help to remove long-standing barriers to entry to the gambling industry. While fiat casinos restrict users to one specific currency, cryptos are not tied to any specific country or region. This means players from anywhere in the world can participate with a simple smartphone and internet connection.
Low House Edges and High RTP
Some gamers perceive crypto dice games to have a favourable house edge, and while this is not necessarily the case, it contributes to the game’s rising popularity. In most cases, crypto casinos offer a house edge of 1%, with some offering a 0.80% edge.
The benefit of a lower house edge is that one can expect to have a higher Return to Player (RTP). A 1% house edge means that one can expect to get $99 for every $100 wagered.
How to Play Crypto Dice: A Step-by-Step Guide
If you are new to crypto dice games, you might be wondering how to start playing. Once you’ve done your research, chosen a gambling platform and set up a crypto wallet, here are the steps to follow to get started.
The foundation of crypto dice is your “prediction”. There are two parts to this: setting your base number, and going “over or under”.
Setting Your Slider
In crypto dice games, you’ll set up your prediction using the in-game “slider”, which can normally move from 0.01 to 99.99. The objective of the game is not to predict the exact number the dice will generate, but rather to guess whether they will roll a number over or under your chosen number.
Choosing what number to use as your foundation is the first part of that decision making process.
Over/Under: Understanding Your Risk Level in Crypto Dice
Once you’ve set your base number using the slider, it’s time to consider your risk level.
In crypto dice games, risk level is the degree of volatility or chance you are willing to accept for each bet. It has a direct relationship with your chosen number. Let’s say you set the slider to 90: if you predict “over”, you have a high risk of losing, since there’s only a 1 in 10 chance the dice will roll over 90. By contrast, if you predict “under”, you’ll have a relatively low risk of losing, since there’s a 9 in 10 chance the dice will roll under 90.
Naturally, there is a correlation between your risk level and your potential jackpot. In a low-risk scenario, you will have a greater chance to win, but a low payout; meanwhile, a high risk bet comes with a higher jackpot.
Understanding “Provably Fair” Technology
One of the key benefits of playing crypto dice games is Provable Fairness, a feature of blockchain-based gaming that ensures transparent outcomes.
Previously, online casino users had to trust the operator’s Random Number Generator (RNG), which was little more than a “promise of fairness” from the platform.
By contrast, Provably Fair casinos use cryptography to prove and demonstrate that every roll is random and untampered with. This provides users with complete transparency.
The Role of Seeds and Nonces
Provable Fairness relies on several key cryptographic data points: server seed, client seed, and nonces.
- Server Seed: A server seed is a random string of numbers or a secret value generated by a casino server. Publishing this number ensures that the casino cannot change the seed after one plays the game – in other words, the game can’t be tampered with.
- Client Seed: A client seed, on the other hand, is a random string of numbers, letters, and symbols generated by the gamer’s device or browser. This number gives the gamer a direct input into the randomness. It also prevents the gaming platform from having all the control.
- Nonce: A nonce is a counter that ensures that every bet or roll gives a random outcome, even when one is using the same server and client seed. In most cases, crypto dice sites combine the server seed, client seed, and the nonce, creating a cryptographic hash.
How to Verify Your Roll
There are two main ways of verifying your roll. You can consult a platform’s Provably Fair section after a roll, comparing the server seed, hashed server seed, client seed, and the nonce to verify your game outcome.
The other option is to use third-party tools such as Provably Fair to verify a result. Visit the website, select the crypto casino and the game, and then enter the server seed, client seed, nonce, and then click verify.
Popular Strategies for Crypto Dice
Aside from understanding the in-game settings, having a good overall strategy can help you boost the outcome of high-frequency dice games. Some of the most common approaches are the Martingale strategy, Paroli system, D’Alembert, and Fibonacci bettin systems.
The Martingale Strategy
The Martingale strategy is a high-risk approach where a gamer doubles their bet after every loss. The goal is to recover all previous losses and profit on the next win.
For example, you can start with a base bet b. If you lose, you place bet 2b, followed by 4b if you lose. The hope is that the 8b trade will be profitable, allowing you to recover the initial losses and then make a profit.
While this strategy is popular, it carries substantial risks since the future trades can turn losses. A recent report found that this approach carries more risks than the constant bet strategy, since once you get to a point where you can’t bet double, it’s game over.
The Paroli system is the exact opposite of the Martingale system. Users double on wins with the goal of riding a streak. Its goal is to achieve three to four consecutive wins before resetting.
The D’Alembert and Fibonacci Systems
The D’Alembert and Fibonacci systems are also popular playing strategies that some argue are more moderate.
The D’Alembert strategy is a negative-progression approach: the player increases the stake by one unit after a loss, or reduces the stake by one unit after a win. The goal is to help a user to gradually recover past losses.
For example, start with a base amount C, and then increase your next bet by +1C after a loss. Then decrease it by -1 1C after a win.
The Fibonacci strategy is a negative progression system that uses the concept of the Fibonacci sequence. This sequence arranges numbers, with each one being the sum of the two preceding ones: 0, 1, 1, 2, 3, 5, 8, …
In this case, one places a bet, and in case of a loss, moves one step forward in the sequence and bets that amount. In case of a win, one moves two steps back in the sequence.
Most companies in crypto gambling offer these strategies on their websites and applications.
Choosing a Reliable Crypto Dice Platform
The crypto gambling industry is growing, with the number of companies rising. While some of these companies are genuine, many others are not.
Licensed Crypto Casino
Licensed crypto casinos are overseen by a regulatory organization, which provides a basic level of oversight and ensures the legitimacy and fairness of the platform.
Some of the most popular licenses are the Curacao license, Malta license, Anjouan license, and Kahnawake Gaming Commission License, with each one carrying a different evel of protection and transparency for users. It’s worth getting to know these different frameworks before choosing a crypto casino.
Site Reputation
You can also research the reputation of an igaming platform by reading independent reviews of the site. While it’s possible to fake reviews, reading the range of feedback a platform has received over time allows you to build a profile of its trustworthiness.
Some other signals, like sports sponsorships and social media following, can help you determine whether a platform is genuine.
Provably Fair
A good crypto dice website should have a Provably Fair system that helps users to independently verify that the outcome of each game is random and not manipulated. You can conduct this verification inside the platform or on a third-party site.
Conclusion
Crypto dice games will likely continue growing in the coming years, thanks to their simplicity, low house edge, and Provable Fairness verification options. And as a game of chance rather than skill, anyone can get involved, with a minimal learning curve.
However, as with all forms of gambling, crypto dice games can be addictive and lead to higher losses. As such, one should gamble responsibly by taking breaks, setting strict limits, monitoring habits, and never chasing losses.
