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1. A rejection or refusal.

2. An explanation that something did not occur.

In either instance, "no dice" is used to indicate that there is no chance or probability of the event happening. Dice represents the likelyhood of whatever item taking place (by the roll of the die), and not having dice means that there is not even a slim chance.
1.
Boy: Will you go out with me?
Girl: No dice. (No chance in hell.)

2.
"I was hoping that I would run into her at the park, but no dice." (She was not at the park, therefore there was never any possibility.)
no dice by Chika January 8, 2007
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no luck, plans fell through, not going to happen
no dice by Anonymous October 1, 2003
Can mean
1)don't agree
2)not happening
1) Hey man you wanna go smash that mailbox? No Dice
2)Hey, party at your house tonite. No Dice
no dice by j/a June 29, 2003
An outright refusal, denial or rebuttal; essentially, shorthand for 'no fucking way'.
Joe: Hey Johnboy, can I borrow a cigarette?
Johnboy: No dice!
No dice by The-Observatory.net September 19, 2004
Asking for something and not receiving it.
Hey ma I want some cookies?
No Dice!
Dis ain't ova
no dice by bronson September 8, 2003
Can mean
1: Not going to happen
2: Not allowed to try
3: Not being given the go-ahead
4: Not allowed to use your throw in Backgammon (and possibly other games)

Example of antonym: "green light"
1a: Sure we shouldn't bring this to trial?
1b: No dice

2a: May I try to beat your highscore?
2b: No dice

3a: Permission to follow?
3b: No dice

4: No dice, it landed on the tip.
no dice by Lazareth Link February 10, 2005
Meaning no way
or also meaning not a chance in hell
"Hold my baby while I fuck this bitch up"
"No dice"
no dice by Chris Mah April 27, 2007