House Edge - page 6. | Bitcointalksearch.org

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Quote from: khaled0111 on May 19, 2024, 04:02:44 PM

Quote from: freedomgo on May 19, 2024, 06:02:26 AM

Of course, because house edge does tells your chances, a lower house edge the higher chances of winning although your chances is still below 50%.
This games with house edge are luck based game

That's not how the he works. The house edge does not affect the odds and does not affect your chances of winning/losing. If you play a coin flip game, for example, your chances of winning/losing are 50/50 meaning you always have a chance of 1/2 to win regardless of the house edge. It only affects the win amount: the higher the house edge the lower your winning not your chance of winning.

I am pretty much referring to the winning percentage that would result from your money. Just like in sports betting, you can bet on a 50/50 game, but if the odds you take are -110, that still represents a 10% house edge. You'll be paying $110 to win $100 on a 50/50 match. Maybe we can make it simple, because we are talking about the house edge here, which will, of course, impact our overall chances of winning, which, as mentioned, I'm basing on the return of money.

To illustrate, if I have a bankroll of $1,000 and I keep playing at odds of -110, I need to win at least 53% overall in order to be profitable, considering I am using a flat betting method for my bankroll management.

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Quote from: khaled0111 on May 19, 2024, 04:02:44 PM

Casinos with the lowest house edge aren't necessarily the best.

Well, you're right, but in general terms, it seems that the casinos that are larger have a Minimal house Advantage , which makes the casinos stay there and Enjoy more The gaming Industry is Difficult , but every time I see that can make a Difference , Problems arise such as the house advantage and where I can Always go to those Casinos that have them lower and with the Degree of trust they have and their good Reputation , I think that everyone goes for those Casinos that do not take Risks , that It is Something normal , Because money is what We try to multiply and take care of.

By the way, that BC,game avatar is very Pretty, it makes me Laugh , it's Very nice.

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Many have been talking on contrary opinions concerning house edge, this is not because we don't know the exact situation of what at stake from using any gambling website for playing our games, but we have also realized the true nature and value for the needs for them to have house edge over every game or bet we are playing, this is part of the things we have to understand and know concerning gambling platforms that we cant beat over the house.

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Quote from: Russlenat on May 18, 2024, 03:53:53 PM

Maybe the explanation have sense, but my personal belief, if you evade the house edge, just bet on the odds with 2.0 +... and 50/50 winning percentage is not really certain as the odds provided or spread are just estimates. Unlike in a machine operated game where it's completely correct as they created the system.

sometimes odds in sports betting are overvalued or undervalued, so that's the big difference that does not exist in games like roulette.

Sports betting does in fact have a house edge applied to all odds which is referred to as juice/vig by sportsbooks(FIAT and Crypto) from around the world. Some books add high juice while some others add low juice to the odds.

Stake adds high juice to their odds. There are far better sportsbooks out there like Pinnacle etc which add low juice providing a lot more value bets overall.

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Quote from: freedomgo on May 19, 2024, 06:02:26 AM

Quote from: jasonz3g on May 19, 2024, 03:15:33 AM

very funny,when your opponent is the casino.
Do you actually care whether the house edge is 1% or 2%?

Of course, because house edge does tells your chances, a lower house edge the higher chances of winning although your chances is still below 50%.
This games with house edge are luck based game, mark that word luck becacuse that's all we need to win.
Bankroll management in this case is kinda important as well, but that's only to minimize your loses or stay within your range, if you know what I mean.

I’m not saying you’re wrong but house edge imply your possible losses every spin. Which mean the lower the house edge gives you lesser money to loss in every bet. House edge doesn’t increase your chance of winning because it automatically decreases your winning percentage below 100% in the long run.

You can only say that it increases your chance of winning if the house edge is zero that gives positive EV to your game.

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Quote from: goaldigger on May 17, 2024, 04:08:27 PM

This can be a good comparison and probably the reason why many choses stake because of the lower house edge. The house will always be a winner in gambling, and that’s why gamblers are looking into the house edge rate for them to compare where to gamble and where they can get higher chance of winning

Apart from fair house edge, there are still other reasons on why a person can choose Stake over the other. The most notable one would be is they have a good customer support. As you can see I did not mention the bonus first because I think there are changes made with this by their team and many are complaining that they lowered it. Other than the house edge, odds can also tell if what are the chances for us to win. There are only some instances that they may not be followed because of our personal luck.

Quote from: goaldigger on May 17, 2024, 04:08:27 PM

No wonder most of the new casinos have a higher edge probably because of lower volume of gamblers and they are not established yet.

Oh? That's crazy but they should be the opposite and its better to be consistent so that players won't get shocked and turned off.

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Quote from: freedomgo on May 19, 2024, 06:02:26 AM

Of course, because house edge does tells your chances, a lower house edge the higher chances of winning although your chances is still below 50%.
This games with house edge are luck based game

That's not how the he works. The house edge does not affect the odds and does not affect your chances of winning/losing. If you play a coin flip game, for example, your chances of winning/losing are 50/50 meaning you always have a chance of 1/2 to win regardless of the house edge. It only affects the win amount: the higher the house edge the lower your winning not your chance of winning.

Quote from: danadc on May 19, 2024, 01:26:18 PM

The house edge is important, I know, but a person who is always looking for the best casino because the house edge is lower ,

Casinos with the lowest house edge aren't necessarily the best.

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Quote from: pawanjain on May 18, 2024, 09:38:47 AM

Quote from: ricasw on April 03, 2024, 01:57:00 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?

It isn't a discrepancy but you can say it's kind of their profit margin.
While some might have a lower house edge (profit margin) the others might have more.
It solely depends on the owner of the site to decide what their house edge can be.
In this case, gambling on Stake will be more beneficial to you as the lower the house edge, the more chances you have to win.

The house edge is important, I know, but a person who is always looking for the best casino because the house edge is lower , how does he Know ? Should some casinos say so in the TOS? It is logical that we are always going to play in the one with the highest house advantage and that Means that we can win more, but I see that the largest casinos are the ones with the lowest house advantage , for example the casino that you say bets , it is a casino that does not exceed 1%, but that is because they have a lot of people, but in casinos that are not so famous the house advantage is greater, how do they attract customers? This house edge should always be at the Beginning of every casino and in a big way.

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Quote from: jasonz3g on May 19, 2024, 03:15:33 AM

very funny,when your opponent is the casino.
Do you actually care whether the house edge is 1% or 2%?

Of course, because house edge does tells your chances, a lower house edge the higher chances of winning although your chances is still below 50%.
This games with house edge are luck based game, mark that word luck becacuse that's all we need to win.
Bankroll management in this case is kinda important as well, but that's only to minimize your loses or stay within your range, if you know what I mean.

Quote from: jasonz3g on May 19, 2024, 03:15:33 AM

Do you want to win this casino?

Why do you gamble in the first place?

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very funny,when your opponent is the casino.
Do you actually care whether the house edge is 1% or 2%?
Do you want to win this casino?

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Quote from: khaled0111 on May 18, 2024, 07:34:22 PM

Quote from: Russlenat on May 18, 2024, 03:53:53 PM

Maybe the explanation have sense, but my personal belief, if you evade the house edge, just bet on the odds with 2.0 +... and 50/50 winning percentage is not really certain as the odds provided or spread are just estimates. Unlike in a machine operated game where it's completely correct as they created the system.

In fact the house edge for sports bets is usually higher than the hs for other games. It's just it's a bit harder to calculate and gambler have hard time to grasp how it works.
To have a better understanding of how it works you should remember that there are other gamblers who might bet on the opposite outcome of the game. Personally, I believe it's easier to understand how the he in sports betting works and how to calculate it when using the American odds format.

That's right, I also ask "chatgpt" regarding that and it says that there's really a house edge in sports betting. It doesn't matter if you bet on the odds +100 because you are getting less probability. That's why I'm looking on the lines which I see have good value, so I could eliminate or at least minimize that house edge.

In casinos, the lowest house edge is probably 1% or there are even lower than that, but in sports betting the normal juice or vigor is 10% as the even action of odds usually have 1.90 (decimal) or -110 (american).

By the way, I'm not having a problem understanding the odds or interpreting it as I have this https://www.aceodds.com/bet-calculator/odds-converter.html

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Quote from: Russlenat on May 18, 2024, 03:53:53 PM

Maybe the explanation have sense, but my personal belief, if you evade the house edge, just bet on the odds with 2.0 +... and 50/50 winning percentage is not really certain as the odds provided or spread are just estimates. Unlike in a machine operated game where it's completely correct as they created the system.

In fact the house edge for sports bets is usually higher than the hs for other games. It's just it's a bit harder to calculate and gambler have hard time to grasp how it works.
To have a better understanding of how it works you should remember that there are other gamblers who might bet on the opposite outcome of the game. Personally, I believe it's easier to understand how the he in sports betting works and how to calculate it when using the American odds format.

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Quote from: Eternad on May 18, 2024, 10:38:40 AM

Quote from: Russlenat on May 18, 2024, 01:57:49 AM

I think the key words here is "in the long run", that is the most realistic explanation on how the house edge will beat us. Of course, when we are lucky we can also win, odds like x10 or x100 is possible in any kind of gambling games, but as we know, casinos doesn't rely on that, they rely on the system of the casino that always gives them the edge every time you spin.

You’re right, House edge is like a cancer that slowly eat your bankroll without even noticing it until you play longer since casino returns has a slight decreased for a 1:1 payout.

A proper mindset will help you deal with that kind of gambling. The reason why casinos are profitable is becasue of that house edge, so at least understanding that will help us minimize the risk because we will no longer pursue trying to bet big to win big, just do it for fun, bet what you can afford to lose and stop withou regret when you lose.

Quote from: Eternad on May 18, 2024, 10:38:40 AM

Quote from: Russlenat on May 18, 2024, 01:57:49 AM

Sports betting is one of the game that doesn't have that "house edge".

Not true. Sportsbook has a house edge. Check sportsbook odds for an even game. You can’t see an even match that has both 2.0 odds on each side since casino applies house edge by lowering both odds below 2.0 despite the winning percentage is just 50/50.

Expected Value(EV) should be zero for a sportsbook doesn’t have a house edge yet most of the bet offered has a -EV which means house edge applies.

Maybe the explanation have sense, but my personal belief, if you evade the house edge, just bet on the odds with 2.0 +... and 50/50 winning percentage is not really certain as the odds provided or spread are just estimates. Unlike in a machine operated game where it's completely correct as they created the system.

sometimes odds in sports betting are overvalued or undervalued, so that's the big difference that does not exist in games like roulette.

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Quote from: Mr. Magkaisa on May 18, 2024, 12:13:49 AM

Quote from: Jawhead999 on April 05, 2024, 03:31:52 AM

Quote from: Mr. Magkaisa on April 05, 2024, 03:15:18 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.

- Oh I see, thanks for the information you gave me. At least now I know that somehow I don't think about that anymore, when I play gambling in any casino here in the crypto gambling business. As long as I make a deposit, it's a game, and that's just what I always do.

But for me, it's normal for sure that this system is used by all casinos, right? Because this is a business and not a charity, they just provide entertainment for gamblers so that they can have a win or income when they are lucky enough to bet on any games they have.

Casinos, even crypto ones, have to generate revenue somehow, and that's where the house edge comes in - it's the built-in margin that gives them a statistical advantage. This edge varies between games - blackjack tends to be more player-friendly while slots may be more heavily stacked for the house. You can still win in small samples regardless of the edge, but over time, as you place more and more wagers, it'll gradually grind down your bankroll, and will catch up to you eventually - even if youre lucky for a bit.

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Quote from: Russlenat on May 18, 2024, 01:57:49 AM

I think the key words here is "in the long run", that is the most realistic explanation on how the house edge will beat us. Of course, when we are lucky we can also win, odds like x10 or x100 is possible in any kind of gambling games, but as we know, casinos doesn't rely on that, they rely on the system of the casino that always gives them the edge every time you spin.

You’re right, House edge is like a cancer that slowly eat your bankroll without even noticing it until you play longer since casino returns has a slight decreased for a 1:1 payout.

Quote

Sports betting is one of the game that doesn't have that "house edge".

Not true. Sportsbook has a house edge. Check sportsbook odds for an even game. You can’t see an even match that has both 2.0 odds on each side since casino applies house edge by lowering both odds below 2.0 despite the winning percentage is just 50/50.

Expected Value(EV) should be zero for a sportsbook doesn’t have a house edge yet most of the bet offered has a -EV which means house edge applies.

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Quote from: ricasw on April 03, 2024, 01:57:00 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?

It isn't a discrepancy but you can say it's kind of their profit margin.
While some might have a lower house edge (profit margin) the others might have more.
It solely depends on the owner of the site to decide what their house edge can be.
In this case, gambling on Stake will be more beneficial to you as the lower the house edge, the more chances you have to win.

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Quote from: khaled0111 on May 17, 2024, 06:58:35 PM

Quote from: Fivestar4everMVP on May 17, 2024, 03:25:15 PM

For example, if stake have 1 percent house edge on crash, and bc.game has 2 percent, it simply means that this game on both casinos are provably fair, but the chances of winning a significant amount are not the same, as 1 percent house edge simply means those playing on stake have a higher chances of being in profit for a longer time if luck is is on their side.

house edge and provably fair are two totally different things, there is no relation between them.
Also, having a higher house edge doesn't mean you have a lower chance of winning a significant amount. The amount to be won depends on the odds and the bet amount. The impact of the he is insignificant when we are talking about a single bet.
On the long run, theoretically, you are unlikely to be in profit. However, in this case, the lower the house edge the lower your losses.

I think the key words here is "in the long run", that is the most realistic explanation on how the house edge will beat us. Of course, when we are lucky we can also win, odds like x10 or x100 is possible in any kind of gambling games, but as we know, casinos doesn't rely on that, they rely on the system of the casino that always gives them the edge every time you spin.

Sports betting is one of the game that doesn't have that "house edge".

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Quote from: Jawhead999 on April 05, 2024, 03:31:52 AM

Quote from: Mr. Magkaisa on April 05, 2024, 03:15:18 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.

- Oh I see, thanks for the information you gave me. At least now I know that somehow I don't think about that anymore, when I play gambling in any casino here in the crypto gambling business. As long as I make a deposit, it's a game, and that's just what I always do.

But for me, it's normal for sure that this system is used by all casinos, right? Because this is a business and not a charity, they just provide entertainment for gamblers so that they can have a win or income when they are lucky enough to bet on any games they have.

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Quote from: Fivestar4everMVP on May 17, 2024, 03:25:15 PM

For example, if stake have 1 percent house edge on crash, and bc.game has 2 percent, it simply means that this game on both casinos are provably fair, but the chances of winning a significant amount are not the same, as 1 percent house edge simply means those playing on stake have a higher chances of being in profit for a longer time if luck is is on their side.

house edge and provably fair are two totally different things, there is no relation between them.
Also, having a higher house edge doesn't mean you have a lower chance of winning a significant amount. The amount to be won depends on the odds and the bet amount. The impact of the he is insignificant when we are talking about a single bet.
On the long run, theoretically, you are unlikely to be in profit. However, in this case, the lower the house edge the lower your losses.

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Quote from: Poker Player on May 09, 2024, 11:29:42 PM

Quote from: bSpend on May 09, 2024, 11:09:05 PM

So, the discrepancies between the house edge of Stake casino and bc.game simply means that bc.game are more likely to make profit off players playing their in-house and maybe some other games; than Stake...

In relative terms yes, but not in absolute terms. If one casino has an HE of 1% and another of 2% of every $1,000 wagered, the second casino earns $10 more. But the one that offers 1% is usually because it has a much higher volume of players, more revenue, so it can lower the HE, and in absolute terms at the end of the year it is normal that Stake has earned much more money than bc.game.

This can be a good comparison and probably the reason why many choses stake because of the lower house edge. The house will always be a winner in gambling, and that’s why gamblers are looking into the house edge rate for them to compare where to gamble and where they can get higher chance of winning. No wonder most of the new casinos have a higher edge probably because of lower volume of gamblers and they are not established yet.

Topic: House Edge - page 6. (Read 2078 times)