House Edge - page 2. | Bitcointalksearch.org

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Both Stake and BCH.games have popular games such as Mines, Tower, Crash, and Target (notably referred to as Limbo on Stake). Stake's platform indicates a house edge of 1% for these games, whereas BCH.games lists a house edge of 2%.

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

House Edge gives casinos an advantage over you. 1% house edge means that casino has a mathematical (1%) advantage over you and casino is a guaranteed winner for long-term. 2% house edge simply means that it has more advantage over you and long-term casino with 2% house edge will collect more profits than casino with 1% house edge.
If you want to have fun and long-lasting gambling experience, it's better to choose casino with the lowest house edge. 1% is the standard and you'll rarely find any casino with lower house edge.

Mines, Towers, Crash, etc... You should manually check their house edge on casino or contact their support.

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Quote from: Poker Player on April 07, 2024, 12:47:58 AM

Quote from: Haunebu on April 06, 2024, 11:11:52 AM

It's pretty simple op. Casinos like Stake are giving players a greater chance of winning while sites like BC.Game are giving players a lower chance of winning.

Well, I would say that's a consequence of traffic. A casino that has a much higher traffic and revenue can offer a lower HE, or a higher RTP if you prefer, and still make good profits. That way, by offering a higher RTP, it attracts more customers and the snowball gets bigger.

Valid point and aside from this. Stake is the most active casino on developing and promoting their original games.

They always release new original games while they have a consistent weekly challenge for their original games. They get more profit when players choose to play their original games because they don’t pay commission to 3rd party game providers. Stake probably wants to users play more on original games than the 3rd party games that’s why they lower their house edge aside from the competition with other casino original games.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

Provably fair and House Edge are not the same thing. Provably fair means that they site is not rigging the rolls and you can verify the games to be fair on your own. House edge is the casino's odds advantage over the players' odds.

A site which is provably fair does not necessarily need to be a low edge game. These are two different things.

Quote

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

Every game has a different house edge. Calculate that before you start playing, that should remove your confusion here.

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Quote from: Poker Player on April 07, 2024, 12:47:58 AM

Well, I would say that's a consequence of traffic. A casino that has a much higher traffic and revenue can offer a lower HE, or a higher RTP if you prefer, and still make good profits. That way, by offering a higher RTP, it attracts more customers and the snowball gets bigger.

Valid points. Stake is the most popular crypto gambling site out there which is why they can afford to provide such a low house edge for their games while sites like BC.Game are slightly popular in comparison.

Other factors like minimum bet, withdrawal fees, promos etc should also be checked instead of just relying on house edge in my opinion.

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Quote from: Haunebu on April 06, 2024, 11:11:52 AM

It's pretty simple op. Casinos like Stake are giving players a greater chance of winning while sites like BC.Game are giving players a lower chance of winning.

Well, I would say that's a consequence of traffic. A casino that has a much higher traffic and revenue can offer a lower HE, or a higher RTP if you prefer, and still make good profits. That way, by offering a higher RTP, it attracts more customers and the snowball gets bigger.

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It's pretty simple op. Casinos like Stake are giving players a greater chance of winning while sites like BC.Game are giving players a lower chance of winning.

Quote from: khaled0111 on April 05, 2024, 06:16:29 PM

Meaning, after one or few bets, the casino might be in profit or at loss but after too many bets the casino will most likely get 2% (or whatever the He is) from the total amount you have wagered.

It's not just 'Most Likely', but it's guaranteed basically. Casinos will always win against gamblers in the long-term implying that the only way gamblers can win against them is in the short-term.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

Obviously they want to have an advantage against players that’s why it’s called a house edge. Increasing it will make them secure a fixed percentage of money on every bet of players. It saves them money from the payout of players when they win so that they will always a win win on every players bet.

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How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

The higher the house edge means you will get less payout on the equivalent risk you are taking. But the dynamics of the games is always the same because they are programmed with almost same code. The only difference is the payout structure on every bet.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Both Stake and BCH.games have popular games such as Mines, Tower, Crash, and Target (notably referred to as Limbo on Stake). Stake's platform indicates a house edge of 1% for these games, whereas BCH.games lists a house edge of 2%.

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

In it's simplest terms, in one out of every 100 games one of those casinos will on average guarantee they win once, and the other casino will win twice. Another way of presenting it is, for each dollar that a player places a bet in those casinos, they'll get 99 or 98 cents back. The provably fair system will have these figures within the calculation, so there is nothing suspicious going on there and they are full upfront to users. Each game will have slightly different algorithms and stages, but it almost always leads back to that simple formula mentioned. These sites are consistent money makers for the owners, which is why they continue year after year, which should tell you everything you need to know.

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Quote from: khaled0111 on April 05, 2024, 06:16:29 PM

Meaning, after one or few bets, the casino might be in profit or at loss but after too many bets the casino will most likely get 2% (or whatever the He is) from the total amount you have wagered.

Well, that high possibility becomes certainty as the total bets increase. There are formulas to calculate it. In the short term the results can deviate statistically from that 2%, and in fact they usually do, it is what is known as variance, but in the longer term they deviate less, tending to that 2%.

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Quote from: Mr. Magkaisa on April 05, 2024, 04:15:18 AM

If I look at it, it seems that a casino is similar to the management done by a crypto exchange, where it has a percentage profit for every trade performed by a trader.
That's why house most of the time wins in the games.

It's still different though while the exchange does get commission or fee every time a trade makes a trade and then gets it successfully. So, they're just always getting it all without having the return.

They serve as mediators to the other traders that are using their platform and there's no risk with them. While for the casinos, they're not a mediator and they don't get commission every time someone gambles because they get the entirety of it if someone loses unless the game that they have is a P2P just as the exchanges.

So unlike the exchanges, they're the opponents of the players themselves.

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Quote from: Mr. Magkaisa on April 05, 2024, 04:15:18 AM

Is that 2% deducted by the house edge from all casino players for every bet they make with a game provider? So does this mean that, win or lose,
the house always has a cut on everything a gambler bets?

No, the casino does not get 2% from each bet placed. However, on the long run ((after many many bets), the house edge which is the advantage the casino has over the player ensures that the casino will be in profit by near 2% from the total wagered amount.
Meaning, after one or few bets, the casino might be in profit or at loss but after too many bets the casino will most likely get 2% (or whatever the He is) from the total amount you have wagered.

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Quote from: paxmao on April 05, 2024, 04:37:37 AM

Quote from: Odusko on April 03, 2024, 03:09:11 PM

I guess in simple terms the 2% house edge give the chance for the game outcome to favor the house on 2x advantage compared to the other casino that have 1% house advantage.
Sometimes I ask how we measure the probably fairness of the game system when there is house edge in place, regardless of how the casino promise to be fair?

Absolutely, a 2% house edge is excessive in my view for a general case of gaming. Having said that, the very famous roulette has what... like 1 in 50 to the house permanent on the numbers betting on average? That is a 2% edge and even more if you play with the double 00 or, as I have seen with triple zero too in some American casinos. Anyway, you can always find a better deal that 2% that is for sure.

If a certain platform would really be having that kind of 2% house edge into their games specially on dice then this one would really be left out on the competition on which the lowest i have seen
is on crypto.games which had that 0.8% and this is something the lowest HE i have seen specially on dice game, but i dont know if they have changed it out since i havent checked out the site.
When it comes to winning probability then everything would really becomes random and this is something that HE isnt the reason on lessening out. It would really be just that
a matter of difference on the loses that you could get or accumulate when the game is really that running even more longer.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

Higher house edge brings more profits for the casino in the long run. The difference between 1% and 2% house edge is very simple. You are trying to define it in a complicated way. Mathematically, users will loss $1 for every $100 wager on 1% HE game. Where the users will loss $2 for every $100 wager on 2% house edge game. There will be also difference of losing streak probability for the house edge.

• The chance of getting 5 losses in a row on 1% house edge: 0.505^5 ×100 = 3.28%
• The chance of getting 5 losses in a row on 2% house edge: 0.510^5 ×100 = 3.45%

Quote

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

The Mines and Tower game multipliers are low on 2% HE game than the 1% HE game. You can see the difference by playing the games on two casinos with the same settings. The crash games burst more often on lower multipliers on 2% HE game.

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Quote from: Odusko on April 03, 2024, 03:09:11 PM

I guess in simple terms the 2% house edge give the chance for the game outcome to favor the house on 2x advantage compared to the other casino that have 1% house advantage.
Sometimes I ask how we measure the probably fairness of the game system when there is house edge in place, regardless of how the casino promise to be fair?

Absolutely, a 2% house edge is excessive in my view for a general case of gaming. Having said that, the very famous roulette has what... like 1 in 50 to the house permanent on the numbers betting on average? That is a 2% edge and even more if you play with the double 00 or, as I have seen with triple zero too in some American casinos. Anyway, you can always find a better deal that 2% that is for sure.

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Quote from: Mr. Magkaisa on April 05, 2024, 04:15:18 AM

- Is that 2% deducted by the house edge from all casino players for every bet they make with a game provider? So does this mean that, win or lose,
the house always has a cut on everything a gambler bets?

If I look at it, it seems that a casino is similar to the management done by a crypto exchange, where it has a percentage profit for every trade performed by a trader.
That's why house most of the time wins in the games.

Did you mean like, if I bet $1 and the game has 2% house edge, what I bet is actually $0.98 instead of $1? no it doesn't like that because when you win, the reward you get is calculated by amount of your bet * multipliers/odds.

We can feel how small of big the house edge if we gamble for long, like 10,000x bets or more, if you only bet for 100x times, the house edge won't really affect your bankroll.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

Both Stake and BCH.games have popular games such as Mines, Tower, Crash, and Target (notably referred to as Limbo on Stake). Stake's platform indicates a house edge of 1% for these games, whereas BCH.games lists a house edge of 2%.

Given that both platforms games are provably fair, I'm curious about the source of the discrepancy in house edge rates. Specifically, does the increased house edge at BCH.games stem solely from the monetary requirements to win (e.g., needing to roll above a 50.99 on BCH.games for a 2x win in Target)?

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

- Is that 2% deducted by the house edge from all casino players for every bet they make with a game provider? So does this mean that, win or lose,
the house always has a cut on everything a gambler bets?

If I look at it, it seems that a casino is similar to the management done by a crypto exchange, where it has a percentage profit for every trade performed by a trader.
That's why house most of the time wins in the games.

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A lot of third party game providers offer several different RTP options for the casino to choose from, so the casino makes that choice. It is a bit different for their in-house games, because they have the ability to configure that on their own.

The difference in house edge are ussually very small, because there are stiff competition out there to draw gamblers to their platforms, so with a bit of research.. you might have a little higher chance to win something.. if you pick the casino with the better RTP. (RTP is difficult and expensive to test, so I think it might be manipulated over time)

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Quote from: PX-Z on April 04, 2024, 07:40:40 PM

House edge also tells the rtp of the games.

Yes, it's not that there's any secret about it, it's a simple subtraction. If Stake has 1% HE, the RTP is 99% and if BCH has 2% the RTP is 98%. Just as there is no secret about the difference between the HE of one casino and another, as already explained.

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Quote from: Odusko on April 03, 2024, 03:09:11 PM

I guess in simple terms the 2% house edge give the chance for the game outcome to favor the house on 2x advantage compared to the other casino that have 1% house advantage.
Sometimes I ask how we measure the probably fairness of the game system when there is house edge in place, regardless of how the casino promise to be fair?

I don't think that we need to ask the measurements, just apply some common sense and you'd know that the house always wins since there's more people that are losing money in the casino's games compared to winning which means that they're getting more money than that of losing due to the players wins. Even if they say that they've got a fair system, the odds are still stacked against you since there's not a lot of combinations that would lead you to win comparing that to the number of combinations that would lead you to lose, it will never be fair, because if that was really the case, there's not a lot of people that are risking their money to build a gambling business knowing that they're likely to lose more since it's fair game for both sides.

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Quote from: ricasw on April 03, 2024, 02:57:00 PM

How does this variation in house edge impact other games like Mines, Tower, and Crash? Are the dynamics similar, or is there another mechanism at play influencing the difference in house edge between the two platforms?

Different games have different house edge, sometimes the easier the game the higher the house edge, the higher the house edge the higher the advantage of the casino than it users. Usually house edge is around .5-1% but some have up to 2% it varies from platform to platform. House edge also tells the rtp of the games.

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