Topic: 10x win on Chain-Bet.com by betting on blockchain - page 2. (Read 4846 times)
Right now, there are 5 wins out of 20, where all the winners have made 16x of their bet value. This game is pretty interesting
I just check the board of https://www.chain-bet.com.
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
Lol,
Random?
0% HE means they don't earn on it.
Doesn't mean you won't lose...
0% HE DOES NOT mean they don't earn on it. House Edge is NOT House Commission. Just like 1% HE sites do not earn exact 1% of the total wagered amount, 0% HE sites does not earn 0 either.
Right now, there are 4 wins out of 20, i.e. 20%.
Right now, there are 0 wins out of 20, i.e. 0%. How do u justify this?
Right now, luck is favoring house. Does not mean, it always will. It is pure probability.
I just check the board of https://www.chain-bet.com.
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
Lol,
Random?
0% HE means they don't earn on it.
Doesn't mean you won't lose...
0% HE DOES NOT mean they don't earn on it. House Edge is NOT House Commission. Just like 1% HE sites do not earn exact 1% of the total wagered amount, 0% HE sites does not earn 0 either.
Right now, there are 4 wins out of 20, i.e. 20%.
Right now, there are 0 wins out of 20, i.e. 0%. How do u justify this?
but at the end house always win no matter house edge, that s their bussiness, even if one or two player make profits, most of all will lost their coins
0% or 1% house edge casinos will still win in the end. Not because they have 1% house edge, but due to statistics.
This is wrong.
In the long run, the casino has more money than any gambler that would come to their doorstep. They will outlast a gambler in the money game, and they will win in the long run. Even if the gambler has a winning streak, it will not still be lesser than the losing streak he has plus all the other player's losing streak.
This is wrong too.
Having a game that is 0% house edge means that there is an equal likelihood (using basic 50/50 odds) for the house or for the player to win. Keeping this in mind and extrapolating, this means that for a given bankroll of the house, there is an equal likelihood over a long duration for the house to lose or win x amount.
For example, let's say that the bankroll is $10 and a number of players wager within a given time. You can consider this one player in total, and it won't change anything. Let's say that the total wagered amount is $10.
Whatever the chances, this is 0 ev. Meaning that the casino can expect to make an average profit of $0 from the wagers. It matters not how much their bankroll is: the profit is independent of that. Keep that in mind. For example, if we flip a coin for $5, does it matter whether I have $5 or $5000? No. My odds of winning and losing $5 are the same. Even if we continue for N times, my odds of winning and losing are still equal.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
They do not have a 0% house edge. They take a "transaction fee" off of every bet before it's processed of 0.0002BTC, effectively adding a house edge, that is huge with small bets, and fairly small with larger bets.
Let's say I send a 0.001BTC bet. The site processes it as a bet of 0.0008BTC, which becomes 0.0128BTC if I win, with a 1/16 chance. I'm given essentially 80% of the money if it was processed as a 0.001BTC bet, making a house edge of 20% for 0.001BTC bets. It's gets even worse as you go down, with a 100% house edge for bets of 0.0002BTC or below.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
With substantial bankroll, a house can run comfortably and make decent profit with 0% house edge, if they dont allow automated betting by bots. If u exclude bets made by bots, u'll find 1% house edge games make much more profit than 1% of total wagered amount. Hence, though it is theoretically impossible to run a 0% house edge game, games like https://www.chain-bet.com still do exist in practical world.
How much as a total % of the betting do you think a company with 1%house edge makes?
Why do automated bots effect profitability?
0% or 1% house edge casinos will still win in the end. Not because they have 1% house edge, but due to statistics. In the long run, the casino has more money than any gambler that would come to their doorstep. They will outlast a gambler in the money game, and they will win in the long run. Even if the gambler has a winning streak, it will not still be lesser than the losing streak he has plus all the other player's losing streak.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
With substantial bankroll, a house can run comfortably and make decent profit with 0% house edge, if they dont allow automated betting by bots. If u exclude bets made by bots, u'll find 1% house edge games make much more profit than 1% of total wagered amount. Hence, though it is theoretically impossible to run a 0% house edge game, games like https://www.chain-bet.com still do exist in practical world.
How much as a total % of the betting do you think a company with 1%house edge makes?
Why do automated bots effect profitability?
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
well a lot of people make mistakes and most probably they will lose money in a longer time because of their greediness, all in all i really like this gambling website and I play here from time to time.
Recently, someone seems to have converted BTC 0.005 to BTC 0.08 on www.chain-bet.com. Check Bet ID #1351.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
With substantial bankroll, a house can run comfortably and make decent profit with 0% house edge, if they dont allow automated betting by bots. If u exclude bets made by bots, u'll find 1% house edge games make much more profit than 1% of total wagered amount. Hence, though it is theoretically impossible to run a 0% house edge game, games like https://www.chain-bet.com still do exist in practical world.
Is it possible to check the stats of house winning/loss here? I am curious about their financial report. It is luck game, because 15/16 bets lost and 1/16 bets win, if players are luckier than the house, they will lose money.
I'm not aware of any such available stat. In general, gambling sites that do not take investment in bankroll, do not publish such financial reports either.
Every gambling site's house takes a little risk. For a 1% house edge site, if players is more than 1% luckier than the house, then house will lose as well.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
With substantial bankroll, a house can run comfortably and make decent profit with 0% house edge, if they dont allow automated betting by bots. If u exclude bets made by bots, u'll find 1% house edge games make much more profit than 1% of total wagered amount. Hence, though it is theoretically impossible to run a 0% house edge game, games like https://www.chain-bet.com still do exist in practical world.
Is it possible to check the stats of house winning/loss here? I am curious about their financial report. It is luck game, because 15/16 bets lost and 1/16 bets win, if players are luckier than the house, they will lose money.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
With substantial bankroll, a house can run comfortably and make decent profit with 0% house edge, if they dont allow automated betting by bots. If u exclude bets made by bots, u'll find 1% house edge games make much more profit than 1% of total wagered amount. Hence, though it is theoretically impossible to run a 0% house edge game, games like https://www.chain-bet.com still do exist in practical world.
If you have 0% house edge, how can you profit? Theoretically, casinos earn money from house edge, so I can't find the source of your profit.
Also, they do have an house edge, since they take BTC from your original bet. Send 0.01BTC? It's a 0.0098BTC bet to them, which adds up to a house edge. The house edge varies based on bet size, but there definitely is a house edge.
You are confusing House Edge with processing fee. As chain-bet.com is a blockchain based game, they deduct BTC 0.0002 to cover their mining fee. This deduction is clearly stated when u generate an address as well as it is mentioned in their FAQ. Especially, now, as the Tx fee pressure is rising, I wonder, how they still cover with such a low fee! On the other hand, House Edge is simply the probabilistic edge house enjoys over gamblers, which has no distant relation with processing fee whatsoever.
Are the odds just so bad that the house doesnt need an edge?
The odds are high if u place a single bet. There are 16 options to bet on. If u place bet on multiple options in a single block, u'd eventually decrease your odds.What is the sites total bankroll, and at what amount if a withdrawal manual?
Generally, sites that do not take investment in bankroll, do not publish their bankroll either. But, as the highest bet amount it 1 BTC, highest withdrawal is 16 BTC. As per OP, the highest win so far is 1.5968 BTC, which was automatically withdrawn. I just check the board of https://www.chain-bet.com.
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
Lol,
Random?
0% HE means they don't earn on it.
Doesn't mean you won't lose...
0% HE DOES NOT mean they don't earn on it. House Edge is NOT House Commission. Just like 1% HE sites do not earn exact 1% of the total wagered amount, 0% HE sites does not earn 0 either.
Right now, there are 4 wins out of 20, i.e. 20%.
I just check the board of https://www.chain-bet.com.
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
Fun Fact: Not every game has the same multiplier/a fixed multiplier. chain-bet bets are playing with a 1/16 chance to win. 2/20 is pretty good for a 1/16 chance to win, but it's a very very low sample size and cannot accurately reflect the house edge/chance of winning.
Also, they do have an house edge, since they take BTC from your original bet. Send 0.01BTC? It's a 0.0098BTC bet to them, which adds up to a house edge. The house edge varies based on bet size, but there definitely is a house edge.
I just check the board of https://www.chain-bet.com.
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
So, a 0% house edge game has only 2 wins out of 20, i.e 10%!
HoW?
Lol,
Random?
0% HE means they don't earn on it.
Doesn't mean you won't lose...
Wrong section, should be in gambling section, very nice winnings, lucky guy.
I'm not that guy. I have lost on their game. I'm asking whether there are other gambling sites offering 0% house edge where I wont have to fight with the site owner to get my winnings out?
What do you mean with "fighting site owner to get winnings out?" I am little confused how can 0% house edge help you with that. House edge has nothing to do with withdrawals. And to your first post, someone won 0.17, but are you sure that guy didn't lose before or after he won this?
Lately, many gambling sites, where deposit to site wallet is required, are denying BIG wins. www.bitcoinbetting.website is pretty safe from this issue as players do not require to keep anything deposited to the site wallet. We can play and forget. Either we lose or win back directly to an address that we control. I prefer this kinda games...
Show me a casino where I can play with my own address
it's not site's wallet but a new wallet for each deposit.If house edge is 0% then how exactly the house can sustain and not going bankrupt?
Winning big then try to withdraw small amounts and do a few withdraws, of course any casino doesn't like to let people take out their big wins as soon as they win
. Jump to: