I just want to ask, how do you know what percentage of the house edge a provably fair game has? Are you asking for support or is there a basis for finding out? As far as I know, there are casinos or games on offer that have a house edge of 0.5%, is that true? Does that mean, when it is lower the chance of luck or win rate is higher?
Many of the casinos explicitly mention their house edge on the website or ANN, like this:
But even if casino doesn't clearly state its edge, you can easily find out the house edge of the provably fair games. I will give you few examples:
1. DICEFirst look at the image below:
In order to win 2.00x, you have to roll above 50.50 or below 49.50. So your winning chance is 49.5% which means the winning chance of house is 50.5% which brings house edge to = 50.5 - 49.5 = 1%.
You can calculate Dice Edge for any casino using this method. For example, odds of winning 2.00x on FreeBitcoin's DICE is 47.5%. Hence, house edge of FreeBitcoin is = 52.5 - 47.5 = 5%!! One of the highest among leading casinos.
2. CRASHFor crash, you can't find house edge by observing the game itself. However, it is possible by looking at the provably fair script. Generally, provably fair casinos post their scripts publicly for players to verify under separate pages like 'Fairness' or on the game page itself. For example, here is the crash script of Tower.Bet taken from (
https://tower.bet/fairness#fairness-crash):
Do you see one less float is divided by 99 in the highlighted part? So the edge of the Crash game is 100 minus this number. In this case, since it is 99. So the house edge of Tower.Bet's Crash game is 100 - 99 = 1%. You can easily find out the edge of any crash game if the casino is using the same script. Just minus the number from 100.
3. ROULETTERoulette is one of the traditional casino game unlike Dice and Crash which are unique to Crypto Gambling. So, you can easily search how the house edge is calculated in traditional casino games like Roulette on Google. However, I will still give an overview of the Roulette game available on Roobet. On Roobet Roulette, you can win:
2.00x by betting on Bronze
2.00x by betting on Silver
14.00x by betting on Gold
However, total number of coins are 15.
So the house edge when $1 is wagered on 'Silver' or 'Bronze' coin:
1 * 7/15 - 1 * 8/15 = 6.67% House Edge
The house edge when $1 is wagered on 'Gold':
13 * 1/15 - 1 * 14/15 = 6.67% House Edge
Formula Used: (Expected Win * Win Percentage) - (Expected Loss * Loss Percentage)
0.5% house edge. I am not aware of any such casino. 0.5% is very low house edge and maybe risky for crypto casinos to run with such low house edge. However, there maybe some long-running casinos providing such low house edge but I haven't heard of one.
Yes! You are right, lower the house edge, better you stand a chance to win the bet.