How does provably fair environment ensure the survival of gambling houses. - page 2.

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Quote from: bearexin on November 25, 2019, 08:00:44 AM

I mean it is a fair environment for both a gambler and a gambling house so 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?

Casinos have a house edge, and that's the way they ensure the success of the project. The house edge is a small % that the house has of advantage, 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 dollar. This way is how the house wins in the long run.

Ailmand

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House edge and withdrawal fees make gambling platorm survive. Even in real casino it's always the house win and that's how it goes, it os a business and it would not be built if it is not designed to be profitable. It may say provalbly fair, but at some point gambling is always about winning that is why the odds of winning is always smaller.

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Quote from: ChrisPop on November 25, 2019, 11:42:14 AM

First of all provably fair does not mean that they have no house edge. Is just that the rolls are random, but they do have an edge over you. If you have noticed on most dice websites when you bet on OVER,UNDER 50 you get a 1.98x odds or something like that. That's their edge and that will ensure they win over the long term if the clients keep playing at their tables. Wink

Of course respectable casinos also employ risk management strategies, such as that you can only bet a certain amount per game, etc.

When you are in playing the gambling, you are taking the risk all of your money and your self too because when you are playing even your intention is just for fun. Still, there is money involved. You don't want to lose all of your money in just a game as a gambler. We want to earn a profit. There are only two types of players, the winner and the loser, but we don't want to go home just giving or wasting your money.

shoreno

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Quote from: bearexin on November 25, 2019, 08:00:44 AM

I mean it is a fair environment for both a gambler and a gambling house so anyone may lose all their money.

what do you mean when you say anyone ? every gambling platform can claim that they are provably fair but we wont know if they are really fair because i think its possible to manipulate since they are the owner . not saying all of them but some maybe ,,,

Quote from: bearexin on November 25, 2019, 08:00:44 AM

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.

a gambling platform can limit bets ( how many max bet or max win ) and what does the house edges mean's ? i think they already earn or cut thier loss depending on the percent of thier edges .

Quote from: bearexin on November 25, 2019, 08:00:44 AM

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 is stil a business and for sure that every business have pros and cons . not all business can be sucesfull

ChrisPop

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First of all provably fair does not mean that they have no house edge. Is just that the rolls are random, but they do have an edge over you. If you have noticed on most dice websites when you bet on OVER,UNDER 50 you get a 1.98x odds or something like that. That's their edge and that will ensure they win over the long term if the clients keep playing at their tables. Wink

Of course respectable casinos also employ risk management strategies, such as that you can only bet a certain amount per game, etc.

target

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Casinos always win. I don't know how you can measure the provability of it but BTC casinos always claim to have fair provability. The Casino I promote claim to have fair provably, I'm just not sure about its reality since I lose most of the time there. Saying they are fair however makes the gambler think they can win. I guess it can establish trust to people when they mention provably fair on the website.

hosseinimr93

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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. As 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.

YuginKadoya

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We are all saying that gambling is risky but why there are still many people playing it the probable fair here seems just a percentage of the risk so, in my opinion, many people are surely aware of this, a percentage would not gonna sure the possibility that you can always win, the house is a fixer of that percentage to be random to bettors,

The gambling site didn't say it is 100% not risky there is the percentage to that and the fair thing that is talking about the site is the fairness that the gambling site would always sure to consider the percentage to be always there.

AakZaki

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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.

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I guess the opposite of provable fair gambling system is rigged gambling system. Or even a gambling system that can be potentially rigged. So are you suggesting that it's OK to rig the system to become very profitable (the serious provable fair ones are profitable atleast) or have a system that can be potentially rigged? I think the provable fair is ethical/moral and good for both parties (the gambler and house)

sana54210

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House edge. One simple answer for all your questions.

House edge is the open thing that is being collected from every gambler for the survival of a house. Unlike you mentioned, there is more than 50% chances for the houses to be successful against its customers in any game. Yes, a gambler gets only (50-house edge)% chances to be a winner.

Moreover, martingale kind of strategies are emphasizing about increasing your base bet on the event of losing bet. But, we need to remember like losing streak there are chances for continuous winning streak which is being missed by all the gamblers due to house-favorable strategies. I mean house-edge and flawed gambling strategies are few things (I could recall right away) which ensure survival of gambling houses.

bearexin

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I mean it is a fair environment for both a gambler and a gambling house so either ~~any~~one 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?

Topic: How does provably fair environment ensure the survival of gambling houses. - page 2. (Read 263 times)