Dice roll -house edge. | Bitcointalksearch.org

Erza

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Quote from: spiritual3 on December 30, 2015, 08:57:33 PM

This topic is about dice roll game.. I was getting good results by betting with bot.. but after 4 days it started to give more continuous reds than before..
I asked the bellow doubt in this forum in some other post.. then i got the answer , which i mentioned bellow.. I request the members to please give your valuable opinion on this.

Question:
But i don't know why.. from the last 4 days .. i am getting more and continuous reds..may be my bad luck in this site..

Answer:
This is why they call it gambling and there is house edge so you will your money in long term. You are getting the house edge effect the longer you play so there is nothing special about having more continous reds because it is normal

I dont really get it what are you saying about this house edge effect. But I do know if you are getting more reds that means you are really not in a luck to play or may be you are using high odds so you get red that much. And about the house edge this will make you lose in the long run so if you keep on playing 4 days continously this will be bad because of the house edge you will lose to the house for sure

KingZee

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Quote from: SwingFirst on December 30, 2015, 09:13:26 PM

Quote from: spiritual3 on December 30, 2015, 08:57:33 PM

You are getting the house edge effect the longer you play so there is nothing special about having more continous reds because it is normal

What is the "house edge"-effect?

Whenever you're betting, you go against the odds of the house. If you win they lose, if you lose your money they win it. Statistically, the house-edge is a calculated percentage. If you roll your dice to infinity, the amount you will lose would be "Money_gambled x house-edge percentage". It's a guaranteed loss in the long run, you just can't outwin the house (theoretically speaking).

Sourgummies

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I'm not sure about what this "house edge effect" means, but I think that's just a bad luck streak.

They'll happen eventually after betting for a long time, and at the end of it all it is is statistics.

Perhaps by the "house edge effect" you mean the fact that you'll lose out on that x% of the time and that comes eventually?

SwingFirst

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Quote from: crairezx20 on December 31, 2015, 03:24:01 AM

House edge effect? it is new in my eyes that there is a house edge effect. and i think the answer is not the best to answer for your question..
If you play it 4 days so in first day you can get red result its imposible to dont get red result for your auto bet.
Honestly i tried it many times to any gambling sites.

It's not entirely impossible. The word you're looking for is "improbable". But I do see your point!

vendetahome

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i highly not recommend using any strategies on dice, if you use it and it works for a short period of time you will start thinking that you managed to beat the house edge and the whole casino but soon you will start loosing all your money you have

shanem

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It is not uncommon to see a losing streak in dice. I once saw a player lose 10 times in a row. It is like flipping a provably fair coin. The chance of flipping a head is same even if you got all tails for the past results.

dodgecharger

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Quote from: sinisuba on December 31, 2015, 05:22:54 AM

Your point is the more you play the more your chances are for losing because of increase of house edge? I don't think that's the issue, the only thing that may happen is that some sites decrease the house edge the more you bet. There are no strategies in gambling, you either win or you lose.

The house edge is decreased, then it should be provably fair and good dice sites. More ppl will come to there to bet. We should go to the trustworthy reliable dice sites to avoid to get scammed.

sinisuba

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Your point is the more you play the more your chances are for losing because of increase of house edge? I don't think that's the issue, the only thing that may happen is that some sites decrease the house edge the more you bet. There are no strategies in gambling, you either win or you lose.

Ceizer54

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I don't think house edge less then or equal to 1% can really ruin your bets because i have seen many players winning big on 1% house edge too..the lower the house edge the site has more preffered to bet on that site..i would say it's simply your luck that's leading you to continuous to reds and as you said you are using some bot,may be the bot is not allowed by the site? and it's detecting it..Another option is to clear your browsers cookies and try again!

Joel_Jantsen

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I think you should have conformed from the posted what is the "house-edge-effect" ?I'm assuming its the process where you start losing and having a feeling you're being cheated by the house right ? Because they don't want you to win ?Well,it depends on the website you're playing.Gambling does turn out to be losing in the long run but if you work your way out smartly I don't thing house edges will care that much if the're not keen on cheating people.

mark coins

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I think im missing something here. Anyway, red streak can occur in your first hour of playing, its just totally depends on luck but the house edge could affect that coz of the adjustment in numbers

crairezx20

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House edge effect? it is new in my eyes that there is a house edge effect. and i think the answer is not the best to answer for your question..
If you play it 4 days so in first day you can get red result its imposible to dont get red result for your auto bet.
Honestly i tried it many times to any gambling sites.

Small

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With the house edge, you are expected to lose House edge% in the long run. Anything less or more than that is varience and will get even out in the long run. That is due to the chances being lower, in 2X with 1% house edge, you need to get below 49.50 or 50.50 assuming lowest possible and highest possible is 0 and 100 respectively.

Patatas

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Quote from: fullypak on December 31, 2015, 03:09:14 AM

But what I think is whether it is good or bad dice site, if any one play for long time surely they will get lot of reds and will lose there money. This is based on my experience, no one can predict when actually this house edge will eat away all our money. So gamble with small amounts and carefully.

People have won massive amounts of coins on betting on dice sites like if the house edges actually wanted to eat their money ,how could they give them chance to win like 3000 bitcoins at once? I usually play dice at rollin.io or justdice and I don't feel I'm ever being cheated because I get my profits accordingly and ofcourse not everyday since its based out of luck.

fullypak

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Quote from: Patatas on December 31, 2015, 03:02:16 AM

I don't agree with the answer given.It depends how much percent the house edge is based on,generally we have house edges as low as 1% which are provably fair and good dice sites .If you were playing some not-so-fair sites you could have negative results.

But what I think is whether it is good or bad dice site, if any one play for long time surely they will get lot of reds and will lose there money. This is based on my experience, no one can predict when actually this house edge will eat away all our money. So gamble with small amounts and carefully.

Patatas

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I don't agree with the answer given.It depends how much percent the house edge is based on,generally we have house edges as low as 1% which are provably fair and good dice sites .If you were playing some not-so-fair sites you could have negative results.

shulio

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Quote from: SwingFirst on December 30, 2015, 09:28:24 PM

Quote from: sakinaka on December 30, 2015, 09:14:32 PM

Isnt it a bit obvious? Did you just realised that there's a thing called a house edge? Lips sealed

I know what a house edge is, but I can't recall ever stumbling across the term "house edge effect".

You should read more so you can get to know what that means. Its not really rare to see that because we all know how house edge works or atleast some of us really do know how it works , there's no telling when you will lose but sooner or later if you keep playing then you will lose

SwingFirst

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Quote from: sakinaka on December 30, 2015, 09:44:21 PM

Quote from: SwingFirst on December 30, 2015, 09:28:24 PM

Quote from: sakinaka on December 30, 2015, 09:14:32 PM

Isnt it a bit obvious? Did you just realised that there's a thing called a house edge? Lips sealed

I know what a house edge is, but I can't recall ever stumbling across the term "house edge effect".

Lol... Gambler's fallacy maybe?

That's initially what I thought as well, but I just wanted to know more precisely what he meant

sakinaka

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Quote from: SwingFirst on December 30, 2015, 09:28:24 PM

Quote from: sakinaka on December 30, 2015, 09:14:32 PM

Isnt it a bit obvious? Did you just realised that there's a thing called a house edge? Lips sealed

I know what a house edge is, but I can't recall ever stumbling across the term "house edge effect".

Lol... Gambler's fallacy maybe?

SwingFirst

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Quote from: sakinaka on December 30, 2015, 09:14:32 PM

Isnt it a bit obvious? Did you just realised that there's a thing called a house edge? Lips sealed

I know what a house edge is, but I can't recall ever stumbling across the term "house edge effect".

Topic: Dice roll -house edge. (Read 957 times)