I think you don't understand the point...
99% of players is here to "Win" money, not lose money... so, if we play on a 50% (0% house edge) dice game, we expect to receive 2x reward
The Question is: the House also need to earn money, so they put a LITTLE house edge, normally 1%, so your probably to win is:
49,5% - receive 2x
51,5% - lose all
If you study math, you know that going to infinite, the 1% will really be 1% in average, so in theory, the house is really winning 1%. So, if there is 1000 BTC wagered, the house is earning about 10 BTC.
If i bet alot of times, if i start with 100BTC, making like 1million 1BTC bet size, provably my final result will be 99BTC.
But now, why we play on dice website if it has a house edge... because we want to earn money (beside on really the average probably is to lose money), but if the Dice website is good, always pays instantly, have a nice support team, nice gameplay, we don't care is giving %1 to house edge.
But i think you still don't understand the point... you trying to profit from the bets lol... giving house edges like 99%, now fake 20% (40% to win 100x + 40% (hit 2 last number with 4 numbers = 400/1000) to receive refund) house edge...
But, i'm lottery, not dice game... OK: dicegame have contantly bets, so the wagered ammount is much higher, but you as a lottery, you can increase a little your house edge... max 5% house edge, not 99% or 60%, remember, we are playing to win too, not to give money for free...
So your total prob, considering payout value, must give at least 95% back, 5% is already too high and good for the house.
Imagine 10 ppl betting 1BTC each in one round of your game > you'll earn 0,5 BTC, actually your math is, if 10ppl play 1 BTC in one round, you earn 2 BTC for you OMG... it don't exists
I'm still considering the refund as a prize lol... actually your last idea the house edge is much higher than 20%
Well, It's just my opinion, don't take to the personal side ^^, i'm trying to help you doing the right thing
No prob, no offense taken
I'm now sure that some of you are confusing dice game with lottery, YABTCL is the biggest one and runs on 6 to 8 numbers, that means that house edge is 99.999999%.
Dice is an entirely different game, however, every opinion counts and we learn from them!