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Topic: House Edge - page 3. (Read 2078 times)

hero member
Activity: 2968
Merit: 687
November 25, 2024, 07:28:56 AM
1%/2%.... Huh ... I think at the end of the day the old saying is true - "The house always wins". However, having gambled many many eons ago, I know it's not always true, you can get lucky sometimes if you know what is going on etc. Wink

https://en.wiktionary.org/wiki/the_house_always_wins#:~:text=Proverb&text=In%20a%20casino%2C%20all%20gambling,the%20successes%20of%20individual%20patrons

The fact is that this saying lacks something that is implicit and implicit, but that many people do not realize: the house always wins if we talk about the long term, about the big numbers.

You can go to the casino one night and come out with more money than you come in, in fact that is the attraction, because if everybody always lost, as can be deduced from a simplistic reading of the saying, nobody would bet.

The question is in the long run, in the big numbers, where the HE is what assures the house to win.
People would really be just that trying out to realize on the moment or time that they are experiencing unfortunate conditions and not on the time that they are gambling midway or on the moment that they are
trying out to beat up the house.  Grin

Realizations do always come at the end but because of greed then they would really be just that making themselves dumb and just tolerate into those things on what they do have in mind.
House do always win at the end or long run. Its not really that something that hard for you to understand.

This is how businesses do really make out some business and if you are a type of gambler who do tend to beat up this thing then it will really be
just that making your life miserable with in terms of financial status or condition.
legendary
Activity: 1372
Merit: 2017
November 24, 2024, 11:25:03 PM
1%/2%.... Huh ... I think at the end of the day the old saying is true - "The house always wins". However, having gambled many many eons ago, I know it's not always true, you can get lucky sometimes if you know what is going on etc. Wink

https://en.wiktionary.org/wiki/the_house_always_wins#:~:text=Proverb&text=In%20a%20casino%2C%20all%20gambling,the%20successes%20of%20individual%20patrons

The fact is that this saying lacks something that is implicit and implicit, but that many people do not realize: the house always wins if we talk about the long term, about the big numbers.

You can go to the casino one night and come out with more money than you come in, in fact that is the attraction, because if everybody always lost, as can be deduced from a simplistic reading of the saying, nobody would bet.

The question is in the long run, in the big numbers, where the HE is what assures the house to win.
legendary
Activity: 3570
Merit: 1959
November 24, 2024, 08:47:14 PM
1%/2%.... Huh ... I think at the end of the day the old saying is true - "The house always wins". However, having gambled many many eons ago, I know it's not always true, you can get lucky sometimes if you know what is going on etc. Wink

https://en.wiktionary.org/wiki/the_house_always_wins#:~:text=Proverb&text=In%20a%20casino%2C%20all%20gambling,the%20successes%20of%20individual%20patrons
hero member
Activity: 2716
Merit: 904
November 24, 2024, 02:49:41 AM
It's incredible that this has to be explained... but here we go, one more post:
Several people say: it's what the house will win in the long term... but I think the reality is that it's the value that we players look for in the long term, Smiley that is, you "rarely" start close to that value, so most of those games have 1%.
If we’re talking about long-term success, any game with a house edge, no matter how small, isn’t the game you’d want to pick. Instead, focus on skill-based games where you can really find value and improve your chances, and actually even games with a tiny 0.5% house edge are still profitable for the casino in the long run. As long as there’s a house edge, the odds will always favor the house, it’s just how the system works.

If any traditional game is higher than 1% it's simple, you don't play it.
Even with a house edge lower than 1%, you still wouldn’t want to play if your goal is to find real value. When the odds are even slightly against you, it’s not the best choice for long-term success.
legendary
Activity: 1960
Merit: 3107
LE ☮︎ Halving es la purga
November 23, 2024, 11:37:53 AM
It's incredible that this has to be explained... but here we go, one more post:
Several people say: it's what the house will win in the long term... but I think the reality is that it's the value that we players look for in the long term, Smiley that is, you "rarely" start close to that value, so most of those games have 1%.

If any traditional game is higher than 1% it's simple, you don't play it.

The thing is, how is it possible that most casinos have reached that agreement... I'll leave that task to you OP, if you're really interested in the subject, you'll find it.
hero member
Activity: 1400
Merit: 623
November 23, 2024, 10:12:13 AM

Ironically, even though gambling is supposed to be about fun and amusement, I have seem gamblers to make a big deal of it and only choose to play on casinos which choose to have the lowest edge possible in favor of the house, that gives the impression they have more chances to get money out their sessions, when in reality only means they casino gets less money out of them in the long term, but still gets money, that is what matters for the management. after all.

A small percentage difference on house edge is already a big deal on high frequency gambler like betting million dollar per game. Imagine those 1% difference is already a 10K$ savings from a house edge.

But those normal gambler with low bankroll typically disregard house edge since it’s really negligible on short term game. You’re correct that it only applies on high volume bets but having a huge difference on house edge can be feel immediately just like on physical slot games that has a house edge greater than 10% while online slot games typically on has 50% or less house edge.
legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
November 23, 2024, 09:22:46 AM
House edge will always remain because that is one of the advantages that the casino developers and owners have to enjoy in other not to remain on loss, when we are playing casino games, we should forget about it that we are going to make a win just like that, instead, we should know that catching fun is more important in this king of category than when we are more interesting on chasing after a win on casino games.

House edge will always remain because casinos are businesses and that edge is their mathematical and fool-proof way for them to remain having in profit in the long term, regardless of the luck some gamblers could have ending up hitting a jackpot eventually. Also, you should remember the edge of the house is mostly applied when gamblers play an infinite number of times, being the tendency of the house edge the percentage of the money which is going to stay in the house.
Ironically, even though gambling is supposed to be about fun and amusement, I have seem gamblers to make a big deal of it and only choose to play on casinos which choose to have the lowest edge possible in favor of the house, that gives the impression they have more chances to get money out their sessions, when in reality only means they casino gets less money out of them in the long term, but still gets money, that is what matters for the management. after all.
hero member
Activity: 2716
Merit: 904
November 23, 2024, 02:14:20 AM
I have to disagree with this.
One of the main advantages of provably fair algorithms is that you (the user) can verify everything by yourself. It doesn’t matter if it’s a new casino or an old one as you don’t have to trust them. Provably fair means the fairness of the game can be proved in a trustless way.
However, and this is the cause of the confusion, offering pf games doesn’t necessarily mean the casino can be trusted as there are other means for them to scam their customers.

I understand you point though, but evaluating on how to trust a casino is not only about enjoying transparency of Provably Fair games but it’s also about how smoothly the casino handles deposits, withdrawals, and, most importantly, the KYC process.

You can’t overlook the casino’s reputation because it carries more weight than just having Provably Fair games. Trustworthy operations and reliable service go hand in hand with fairness, and that’s what really keeps players coming back.
legendary
Activity: 2758
Merit: 3105
Top Crypto Casino
November 22, 2024, 06:58:26 PM
I trusted the so-called "provably fair" before, but not anymore, you should beware of that phrase, especially if it is coming from a relatively new casino. You should trust casinos based on their integrity and reputation and you will know this through the direct service they render to you, not from anything else.
I have to disagree with this.
One of the main advantages of provably fair algorithms is that you (the user) can verify everything by yourself. It doesn’t matter if it’s a new casino or an old one as you don’t have to trust them. Provably fair means the fairness of the game can be proved in a trustless way.
However, and this is the cause of the confusion, offering pf games doesn’t necessarily mean the casino can be trusted as there are other means for them to scam their customers.
hero member
Activity: 1134
Merit: 528
Leading Crypto Sports Betting & Casino Platform
November 22, 2024, 05:20:30 PM
They can also try to leverage the house edge to their favor if they don't provide a way to verify the result of the game.
That's right, because who audits a casino in every case that is played? If the casino makes a mistake in favor of the casinos rarely some will say it, well the most reliable ones do , but the rest of the casinos do not do it, I have seen a series of casinos where players beat them and then they ban them telling them that they cheated, it is something really Strange, they should not be like that and casino that has really been emerging little by little, that is a point to consider.


The fact is always that, casinos leverage so much on the house edge to double their advantage on the gamblers and this is not a new practice by casinos when it comes to the application of house edge most especially on in House game's many games have been toned into the favor of the casinos against the gambler and all this is by the help of house edge, so for safety measures we should avoid games that has house edge rules on them as much as we can, because we know that there will always be time that we can't totally avoid those game's but at least since we have all this orientation in place measures should be applied to safe guide ourselves with in this casino, so as not to be in so much disadvantage on the long run.

When it comes to the issues of accounts banned, it is far from House Edge because in most cases, when accounts are banned it will always be after the player won a big amount, but in the case of House Edge, the casinos won't even let the gambler to win the game in the first place because the outcome of the game is configured to favor the house.
legendary
Activity: 2492
Merit: 1092
Leading Crypto Sports Betting & Casino Platform
November 22, 2024, 04:05:51 PM
House edge will always remain because that is one of the advantages that the casino developers and owners have to enjoy in other not to remain on loss, when we are playing casino games, we should forget about it that we are going to make a win just like that, instead, we should know that catching fun is more important in this king of category than when we are more interesting on chasing after a win on casino games.
As unfortunate and disappointing as this may seem to gamblers, specially the new ones who are after nothing but money, it's the absolute truth, house edge is what makes running a casino an actual business, without the house edge, running a casino would have been another gambling altogether, and we well often witness instances or cases where gamblers will rekt a casino down to zero, because they gambling equally with the gamblers..

But with a house edge in place, it's indeed the advantage the casinos have over the players, this turns the casino into a business that actually makes profit regardless of how much gambler win and take away from the casino. With a house edge, gamblers are not playing against the casino but against their self and other gamblers.
hero member
Activity: 952
Merit: 507
November 22, 2024, 02:28:18 PM
My question is that is there any way we can know whether casino games are probably fair? I have ask myself many times when I would play casino games and always ending muo in loses many times.

IN most conditions, when you're playing casino games, you're likely to make losses because it has been designed in such a way that the house have more edge than the player, not that you cant win, but you will do much of loosing than winning when gambling, all these have already been programmed, there is nothing we can do about it, the house edge over wining is more and this has to go in their own direction and favour.
Definitely the house will always be at advantage over the gambler most especially when he is playing in House game's because in House game's house edges is so prevelent and clearly at practice all the time, so before your decide to play those games you should already have a predetermined mindset towards the games that you likely lose most of the games unless you have high luck to win a few.
That is how casinos are designed and way their generate their operational cost and revenue for the owner, it's all at the expense of the gambler.
hero member
Activity: 952
Merit: 555
20BET - Premium Casino & Sportsbook
November 22, 2024, 02:02:37 PM
House edge will always remain because that is one of the advantages that the casino developers and owners have to enjoy in other not to remain on loss, when we are playing casino games, we should forget about it that we are going to make a win just like that, instead, we should know that catching fun is more important in this king of category than when we are more interesting on chasing after a win on casino games.
hero member
Activity: 2968
Merit: 687
November 22, 2024, 01:58:32 PM
This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?
Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Correct, that is a quite common misconception I have seen before,.specially from newbies who do not understand how seed verification and probably fairness works in the first place.
If we lived in a ideal world, all the software used by casinos and game providers would be open source and this could give undeniable access to the way those games work, though, that is not going to happen anytime soon. because it would be imply an oversaturation on the market by services which would be always the same thing one and over again.
that is why probably fairness was conceived for in the first place, so people can make sure they are not being ripped off by the casino, within the need to verify the source of it running on the background.

As mentioned, it is not only a system about using one's seed to generate the entropy to get a result, the fact cryptography also allows the gambler to verify the result and the seed are related is the true game changer when we talk about fair games and fair gambling .

It is a topic worth investing some time to read about.
I don't want us to build so much misconception about this issue around how fair is the probably fair games even the ones that have the games hash and could be verified using the block analytics tools, I have seen few casinos that prove to be fully verifiable and at the same time proven to have undergone some independent testing of their probably fair system, this made them bold enough in the entire cryptocurrency gambling market space with the claim of probability fairness of their game's.
I like you to once again research the provably fair of a thing, but now, with an in-debt research and you will be surprised about what you discover. I trusted the so-called "provably fair" before, but not anymore, you should beware of that phrase, especially if it is coming from a relatively new casino. You should trust casinos based on their integrity and reputation and you will know this through the direct service they render to you, not from anything else.

When a new casino making up its launch then it is really that usually a common tag on having those words on the moment that they will really be starting to run up the business on which they will really be trying out to elaborate that they are a fair casino and thats why its not really that shocking or something that will really be new when seeing up these words. Speaking about fairness on total then it will really be that not something could be acquire in a short period of time specially if we do speak about reputation and credibility on which this is something that cant be obtain and will really be mainly testing out.

In regarding about those %HE differences then it will really be obviously having those difference in between on which the winning and potential amount that you could profit out will really be basing up with those HE
and same goes on the chance that you will really be able to hit up a particular number.We do know that when it comes into these kind of games on which these are fast paced ones.
You wouldnt be minding that much about those gaps or odds on winning up on every roll. You wont really be finding yourself to be stressed if you are just dealing up with the right platform.
hero member
Activity: 896
Merit: 654
Leading Crypto Sports Betting & Casino Platform
November 22, 2024, 01:36:05 PM
This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?
Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Correct, that is a quite common misconception I have seen before,.specially from newbies who do not understand how seed verification and probably fairness works in the first place.
If we lived in a ideal world, all the software used by casinos and game providers would be open source and this could give undeniable access to the way those games work, though, that is not going to happen anytime soon. because it would be imply an oversaturation on the market by services which would be always the same thing one and over again.
that is why probably fairness was conceived for in the first place, so people can make sure they are not being ripped off by the casino, within the need to verify the source of it running on the background.

As mentioned, it is not only a system about using one's seed to generate the entropy to get a result, the fact cryptography also allows the gambler to verify the result and the seed are related is the true game changer when we talk about fair games and fair gambling .

It is a topic worth investing some time to read about.
I don't want us to build so much misconception about this issue around how fair is the probably fair games even the ones that have the games hash and could be verified using the block analytics tools, I have seen few casinos that prove to be fully verifiable and at the same time proven to have undergone some independent testing of their probably fair system, this made them bold enough in the entire cryptocurrency gambling market space with the claim of probability fairness of their game's.
I like you to once again research the provably fair of a thing, but now, with an in-debt research and you will be surprised about what you discover. I trusted the so-called "provably fair" before, but not anymore, you should beware of that phrase, especially if it is coming from a relatively new casino. You should trust casinos based on their integrity and reputation and you will know this through the direct service they render to you, not from anything else.
legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
November 22, 2024, 11:42:48 AM
... we should know that those games verification to test the probable fairness of the games is selected games and, not all games can be verified.

Sure, that is is basic knowledge when comes to people who is supposed to have a basic knowledge about the casino they prefer to gamble on... For example, in Stake they guarantee all their original games (managed and development by stake itself) and provably fair and there are quite straight forward ways to verify they are, on the other hand, we have the games provided by third parties which are not obliged by their partnership of the casino to disclose their source code of the inner mechanism of the game in order to fully readsur fairness to gamblers.
No gambler is supposed to sign up to an online casinos expecting all games to see probably fair, each one of us needs to verify whether we feel comfortable with the game we are about to wager in and the lack of provably fairness
sr. member
Activity: 1008
Merit: 262
20BET - Premium Casino & Sportsbook
November 21, 2024, 04:36:15 PM
They can also try to leverage the house edge to their favor if they don't provide a way to verify the result of the game.
That's right, because who audits a casino in every case that is played? If the casino makes a mistake in favor of the casinos rarely some will say it, well the most reliable ones do , but the rest of the casinos do not do it, I have seen a series of casinos where players beat them and then they ban them telling them that they cheated, it is something really Strange , they should not be like that and casino that has really been emerging little by little, that is a point to consider.


Many of these kind of casinos that will always deny gamblers of their right because they have won huge amounts of money.
This is why it is good for us to always go for the reputable casinos especially those ones that had been tested and confirmed to be legit.
I know a casino can turn from being good and reliable to become a bad example. In that case we should not put all our hope on a particular casino. Using different ones will be good and never to leave on their for too long. Shits are happening and we need to be wise.
hero member
Activity: 1134
Merit: 528
Leading Crypto Sports Betting & Casino Platform
November 21, 2024, 03:44:32 PM
This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?
Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Correct, that is a quite common misconception I have seen before,.specially from newbies who do not understand how seed verification and probably fairness works in the first place.
If we lived in a ideal world, all the software used by casinos and game providers would be open source and this could give undeniable access to the way those games work, though, that is not going to happen anytime soon. because it would be imply an oversaturation on the market by services which would be always the same thing one and over again.
that is why probably fairness was conceived for in the first place, so people can make sure they are not being ripped off by the casino, within the need to verify the source of it running on the background.

As mentioned, it is not only a system about using one's seed to generate the entropy to get a result, the fact cryptography also allows the gambler to verify the result and the seed are related is the true game changer when we talk about fair games and fair gambling .

It is a topic worth investing some time to read about.
I don't want us to build so much misconception about this issue around how fair is the probably fair games even the ones that have the games hash and could be verified using the block analytics tools, I have seen few casinos that prove to be fully verifiable and at the same time proven to have undergone some independent testing of their probably fair system, this made them bold enough in the entire cryptocurrency gambling market space with the claim of probability fairness of their game's.

I won't want to go into playing any doubt game whether or not those platforms are fair or just claiming to be fair but just on a neutral ground and supporting the whole discussion from my own point of view and long-term experience, I think development has gone pass when some casino will just claim what it is not, and we should know that those games verification to test the probable fairness of the games is selected games and, not all games can be verified.
hero member
Activity: 952
Merit: 555
20BET - Premium Casino & Sportsbook
November 21, 2024, 02:38:31 PM
My question is that is there any way we can know whether casino games are probably fair? I have ask myself many times when I would play casino games and always ending muo in loses many times.

IN most conditions, when you're playing casino games, you're likely to make losses because it has been designed in such a way that the house have more edge than the player, not that you cant win, but you will do much of loosing than winning when gambling, all these have already been programmed, there is nothing we can do about it, the house edge over wining is more and this has to go in their own direction and favour.
legendary
Activity: 3500
Merit: 1354
November 21, 2024, 11:17:27 AM
My question is that is there any way we can know whether casino games are probably fair? I have ask myself many times when I would play casino games and always ending muo in loses many times.

Yes, in the most reliable casinos, because they are auditable, if we go to such as dulebtis, stake.com, bitcasino.io, rollbit, among others that are in the forum are trustworthy for that reason, the player who has doubts has the right to audit each of their plays and that is something that not all casinos have, normally one is suspicious of new casinos for multiple reasons, and one of those reasons is that, in the same way the skills that we have must always be demonstrated in play in any scenario.

Auditable is something I rarely heard in this gambling industry, are you referring to the term "verifiable" which is referring to the feature where we can verify our bets using the provably fair system?
If you mean so, we also need to remember that not all games on those reputable casinos can be verified, mostly only the original in house games can be verified by users.
Games which are provided by 3rd party providers are mostly unverifiable.
One more thing, we should also understand how the provably fair system works first so we can verify our bets once we feel there is something weird with our bets.
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