I like to appreciate your cross-thinking like most people here are worrying about survival of gamblers in provably fair environment whereas no one question about casinos for same set of conditions. Your question is sounding like doubting about the reliability of provably fair still houses are taking commission from gamblers in the name of house-edge which is also covered by provably fair environment.
I guess you might have got your answer from so-far conversation hence it would be much better you go locking this topic as it may turn supporting spammers. (It is always a good practice to lock a discussion after it served its purposes)
Topic: How does provably fair environment ensure the survival of gambling houses. (Read 263 times)
November 27, 2019, 01:23:57 AM
November 26, 2019, 05:07:45 PM
They can survive despite of the competition's heavy presence. I think op you got already the answer that you're looking for. One's the casino has already the user base and they are having an acceptable number of daily users.
The thing that they'll get busy is to maintain the site and to sustain other costs through the said factor by most.
The thing that they'll get busy is to maintain the site and to sustain other costs through the said factor by most.
November 26, 2019, 12:04:11 PM
Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this.
I would agree and seemsOP misunderstood the house edge and provably fair.More likely the percentage of provably fair is just a show up and at the end of the day the house always win.
How do you think casinos survive? Taking to account of their expenses --- I guess no casinos will continue to operate just for the sake of players.
November 26, 2019, 11:11:26 AM
I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.
The generated profits out from this business came from those gamblers who will stay long inside the house. Since there's always HE that is really the biggest advantage of the owners of the house. When there's more gamblers to play the more profits the house will take, the reason why gambling ownersmake sure that they will attract more players to the point that they will give bonuses to make sure that players will be satisfied and keep coming back.
November 26, 2019, 09:37:47 AM
Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this.
I would agree and seemsOP misunderstood the house edge and provably fair.More likely the percentage of provably fair is just a show up and at the end of the day the house always win.
How do you think casinos survive? Taking to account of their expenses --- I guess no casinos will continue to operate just for the sake of players.
November 26, 2019, 08:37:17 AM
Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this. Besides when we says fair environment we are always thinking about gambler-centered environment though it is but the thing is, it is either win or go home lose. Applying the idea of fair environment, it would be all about the player and not the system itself, it will turn out to be more like their gain came from rental stuff, entrance something like that.
November 26, 2019, 08:12:05 AM
I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.
And most of the time, the number of winners is less compared to those who bet and lost the game. In this case, the house is having the higher percentage of profit but if you are the lucky winner of a game, it is sure that you can get too much. But the chances of you winning is low.
chances of you winning will also depend on the different factors e.g luck , type of game , how much house the casino have , how much your back roll and many more . i think if you can have all these factors equally i dont know if you cant still win but we all that not all can fulfill those requirements so their chances of winning are always cut . provably fair isnt the only one factor to base if how long a gambling site can survive but also depend on other factor as well like how much thier capital, what is thier advantage on why gamblers will keep playin on them , etc .....
November 26, 2019, 05:26:22 AM
I never thought that bookies could lose. as I know my own experience when playing both gambling online gambling and offline gambling, I more often lose than win. and I don't think it just happened to me, even though there are people who win a lot from gambling on the other hand there are definitely people who lose a lot too. I think the bookies of the possibility of losing globally is very small.
but what OP is mentioning are about Fair Environment meaning the house gives higher chance of wining from the players than loosing.though this is very few(actually i think i have not experienced playing in one)i believe that they can survive by adjusting the winning chances.
There is fixed house edge, even when player wins there will be small percentage that goes to the house, technically house can never lose in long term.
this may be one of the reason for them to survive because at least there are surely income in every game,players win house will gain as well. November 26, 2019, 05:06:33 AM
I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.
And most of the time, the number of winners is less compared to those who bet and lost the game. In this case, the house is having the higher percentage of profit but if you are the lucky winner of a game, it is sure that you can get too much. But the chances of you winning is low.
November 26, 2019, 02:57:44 AM
As it is already said, the house edge guarantees that the gambling website is profitable. The house guarantees that the house beats gamblers in the long term. Besides, Gambling websites consider a maximum amount for the profit a gambler can earn in a single bet. And every single bet is independent form other bets, a gambler might bet a huge amount which is more than the amount the house can afford to pay.
How about changing account or gambling with multiple accounts to bypass the limit?
If the maximum profit is not fixed, it could be changed as they wish?
Well, I guess this limit setting by gambling websites should be part of what provable fair can prevent or make more transparent to gamblers?
November 26, 2019, 01:38:21 AM
I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.
November 26, 2019, 01:06:10 AM
I mean it is a fair environment for both a gambler and a gambling house so either anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.
I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.
In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?
Gambling sites are surviving from players losses, if you see the probability of winning on any casino game then it will be 1/10 or lesser to most game so house has better chance if more players are playing and you calculation or query about their survival will fit if house has only one player on that site. I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.
In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?
November 26, 2019, 12:35:53 AM
Yep, the answer is the house edge. It ensures the profitability of the house. However, guaranteed "profit margin" doesn't mean that the casino will survive.
The survivability of a casino depends on various factors:
- UI & games offered;
- Promotion;
- Community, etc.
The survivability of a casino depends on various factors:
- UI & games offered;
- Promotion;
- Community, etc.
November 25, 2019, 10:09:32 PM
There is fixed house edge, even when player wins there will be small percentage that goes to the house, technically house can never lose in long term.
November 25, 2019, 09:50:58 PM
I mean it is a fair environment for both a gambler and a gambling house so either anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.
I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.
In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?
I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.
In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?
A provably fair system may be neutral to the gambling house but it is only neutral as far as the results are concerned. Meaning to say, that the games will give the users random and fair results. This is all about showing to the users that the results of the games are not in any way rigged. That the codes in the system do not favor the house. And because it is provable, all the users can confirm or verify it themselves. Instead of being against the house, this kind of system is actually advantageous to it because gamblers would always prefer a house that is open and can be trusted.
November 25, 2019, 08:58:28 PM
Gambling houses will get the most win because they are taking all gambler's money from the gambler's lose. We don't know how much money the gambling houses will make, but I am sure that will be huge money as many gamblers still playing in their place. I don't think gambling business is saturated because if you visit on each gambling website or casino, you will find that each casino will have their members who are still playing gambling.
When you can maintain your gambling houses, and you can make your members satisfy while they stay at your casino, I am sure your members will love to spend their money to play the games. And that means you will make more money because every time they gamble, many of them will get lose and only a few of them that will win.
The gamblers will select the gambling houses in which they will play gambling. They will have their favorite gambling houses and stay on those gambling houses for a long time.
When you can maintain your gambling houses, and you can make your members satisfy while they stay at your casino, I am sure your members will love to spend their money to play the games. And that means you will make more money because every time they gamble, many of them will get lose and only a few of them that will win.
The gamblers will select the gambling houses in which they will play gambling. They will have their favorite gambling houses and stay on those gambling houses for a long time.
November 25, 2019, 08:42:43 PM
There's also other costs associated with running a casino like hosting the website and all of the features on the cloud and advertising through plain web ads on other crypto-related websites or even signature campaigns through Bitcointalk, and some smaller sites also just don't have large bankrolls which means a whale netting a few wins and leaving could leave the site with a temporary loss, though some sites especially like crash set max win limits to prevent events like this from happening. Statistically speaking, the house wins over time, but that doesn't mean losses can't occur in the short term.
November 25, 2019, 04:47:03 PM
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?
Heres some explanation about it: https://www.liveabout.com/understanding-the-house-edge-537607
November 25, 2019, 04:02:38 PM
let's say you are playing 1 dollar bets against the house with just flipping a coin. If you lose you will lose the dollar, but if you win you will get 0.95 cents. This way is how the house wins in the long run.
2 corrections:You will get $0.95+1 dollar (you get back your bet amount).
0.95 cents is less than one cent. It could be 95 cents or 0.95 dollar in your example.
how we do have lots of gambling houses when provably fair is a neutral to them?
If you observe keenly, lots of gambling business are getting closed regularly. It makes us assume that provably fair is neutral to both the parties. For a failed business, there could be hundreds of reasons like poor management or hacking or anything but when not considerably profitable due to provably fair environment also one of probable reason.
November 25, 2019, 02:16:46 PM
let's say you are playing 1 dollar bets against the house with just flipping a coin. If you lose you will lose the dollar, but if you win you will get 0.95 cents. This way is how the house wins in the long run.
2 corrections:You will get $0.95+1 dollar (you get back your bet amount).
0.95 cents is less than one cent. It could be 95 cents or 0.95 dollar in your example.
how we do have lots of gambling houses when provably fair is a neutral to them?
If you observe keenly, lots of gambling business are getting closed regularly. It makes us assume that provably fair is neutral to both the parties. For a failed business, there could be hundreds of reasons like poor management or hacking or anything but when not considerably profitable due to provably fair environment also one of probable reason. Jump to: