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
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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!