i'm still looking for the 4%-5% house edge dice sites.
all the sites i play at i win everytime at safedice.
Topic: No House Edge? (Read 4743 times)
How do you think primedice? I think their profits are higher than 1%, maybe 2%, because many people have complaint they won small bets but lost big bets on PD, so I guess PD may have a great return, at least is higher than 1%.
People complain that they lose more when they bet bigger, but I don't give them much credence.
PrimeDice is provably fair, so it should be easy enough to prove they are cheating if they are, but nobody ever does.
I'm sure their profit higher than 1%, since many gamblers are greedy
Dice isn't a game of skill. Things like "greed" don't change the outcome. The house edge is 1%, so they can expect to win 1% of the amount wagered. It makes no difference whether the bets are placed by a greedy human or a cold-hearted robot (or even a cold-hearted robot programmed by a greedy human), the math doesn't care.
Furthermore, few gamblers are using dangerous way to win like bet all-in with low multiplier or using martingale
All bets have the same house edge and hence the same 1% expected profit. "dangerous" is like "greedy" - it doesn't change expectation.
They often make many giveaway which proof they have great profit
1% of the amount wagered is plenty to be able to afford to pay for promotion. 1% of hundreds of millions of dollars is millions of dollars.
Just-Dice "gives away" 90% of its profits to the people bankrolling the site. That happens no matter whether the profits are 0.1% or 10% of turnover and so proves nothing about the profitability of the site.
legendary
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This is the 1st time I have heard of 0% house edge.
We should support sites with the least house edge even if it is temporary.
interesting to see someone do this. would love to see if traffic jumped up and if the house was on the right side of lucky.
This is the 1st time I have heard of 0% house edge.
We should support sites with the least house edge even if it is temporary.
interesting to see someone do this. would love to see if traffic jumped up and if the house was on the right side of lucky.
I did a write up of 0% house edge gambling and how it will be profitable
"a combination of display advertising, paid accounts for premium features, leveraging their users to cross sell other products, data selling and things we have not even thought of yet. Social gaming providers such as Zynga that offer play money gambling have found ways to make a very nice return without making anything of the games themselves.
Think of how many users would be attracted to a gambling service that offers all the same sports betting, poker and casino products people use now but where the users break even on average and it is available to everyone in the world. There are many ways to monetise an audience of that scale."
"a combination of display advertising, paid accounts for premium features, leveraging their users to cross sell other products, data selling and things we have not even thought of yet. Social gaming providers such as Zynga that offer play money gambling have found ways to make a very nice return without making anything of the games themselves.
Think of how many users would be attracted to a gambling service that offers all the same sports betting, poker and casino products people use now but where the users break even on average and it is available to everyone in the world. There are many ways to monetise an audience of that scale."
i dont think bitcoin casino's or online casinos will ever go to 0%. Its just a bad business practice. Zynga gaming and real-gaming are completely different experiences, and they work with very different markets. We'll see other innovations in the market, but a race to 0% is not feasible.
This is the 1st time I have heard of 0% house edge.
We should support sites with the least house edge even if it is temporary.
Wow, cool, it is a clear graph, and we can see the details about your site, 1.13% real profit of bet is good, better than 1% expect return, so in long term, you can make more money than expect, unless some whales eat your house. 
You can make more than expected, but you can also make less than expected. Just-Dice used to accept Bitcoin, and ran for a year doing so. Over that period it kept something like 0.35% of the amount wagered. The house edge was 1%, so it only did about a third as well as expected. For a while the profit was even negative. So again, that's more evidence that the house edge really only has its effect in the very long term and casual casino players probably won't even notice it if they don't play much. Of course if they're playing games with a huge house edge (national lotteries are a good example, typically paying out 50% of so to players) then they'll notice the effect of the house edge much sooner.
How do you think primedice? I think their profits are higher than 1%, maybe 2%, because many people have complaint they won small bets but lost big bets on PD, so I guess PD may have a great return, at least is higher than 1%.
legendary
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We, at Crypto-Games are currently offering 0% House edge for 12 Hours!
Wow, cool, it is a clear graph, and we can see the details about your site, 1.13% real profit of bet is good, better than 1% expect return, so in long term, you can make more money than expect, unless some whales eat your house.
You can make more than expected, but you can also make less than expected. Just-Dice used to accept Bitcoin, and ran for a year doing so. Over that period it kept something like 0.35% of the amount wagered. The house edge was 1%, so it only did about a third as well as expected. For a while the profit was even negative. So again, that's more evidence that the house edge really only has its effect in the very long term and casual casino players probably won't even notice it if they don't play much. Of course if they're playing games with a huge house edge (national lotteries are a good example, typically paying out 50% of so to players) then they'll notice the effect of the house edge much sooner.
Then again, it is not likely for you as a once a month gambler to actually feel the 0,5% house edge. This is something you notice after a lot of runs. If you only go once in a while, variance will take over and you may even end up winning or losing big.
People overestimate the effect of the house edge all the time. For example, just a couple of posts ago:
Thanks for putting it in numbers, always helps a ton!
So you always lose out, no matter the structure.
So you always lose out, no matter the structure.
The house edge doesn't mean players always lose. It just means they will lose if they play too much, but it can take a very long time for it to happen.
On Just-Dice.com we have a 1% house edge, and take over a million bets per day, and yet over the last month the house had made a loss. The players, in aggregate, have been beating the house:
Here we see that over the last 6 weeks the site's profit has fallen slightly while the expected profit (1% of the amount wagered) has risen by 15,000 (CLAMS). In other words we have taken bets worth around 1.5 million CLAM (over $1.5 million), and the house edge hasn't "kicked in" at all.
Over the 6 months that the site has been running, on the other hand, the site has made a profit. That profit is 1.13% of all the coins that have been wagered, so it's running pretty close to expectation.
But over the last month the players have beaten the house edge, on a no-skill game, 1% house edge game.
Wow, cool, it is a clear graph, and we can see the details about your site, 1.13% real profit of bet is good, better than 1% expect return, so in long term, you can make more money than expect, unless some whales eat your house.
Then again, it is not likely for you as a once a month gambler to actually feel the 0,5% house edge. This is something you notice after a lot of runs. If you only go once in a while, variance will take over and you may even end up winning or losing big.
People overestimate the effect of the house edge all the time. For example, just a couple of posts ago:
Thanks for putting it in numbers, always helps a ton!
So you always lose out, no matter the structure.
So you always lose out, no matter the structure.
The house edge doesn't mean players always lose. It just means they will lose if they play too much, but it can take a very long time for it to happen.
On Just-Dice.com we have a 1% house edge, and take over a million bets per day, and yet over the last month the house had made a loss. The players, in aggregate, have been beating the house:
Here we see that over the last 6 weeks the site's profit has fallen slightly while the expected profit (1% of the amount wagered) has risen by 15,000 (CLAMS). In other words we have taken bets worth around 1.5 million CLAM (over $1.5 million), and the house edge hasn't "kicked in" at all.
Over the 6 months that the site has been running, on the other hand, the site has made a profit. That profit is 1.13% of all the coins that have been wagered, so it's running pretty close to expectation.
But over the last month the players have beaten the house edge, on a no-skill game, 1% house edge game.
Well i see a 0% house edge casino wont make any money but im sure if some casinos made it like, special day of 0% house edge, they would surely attract a lot of players and theoretically not lose anything
There is a difference between expected profit and actual profit. Just because their expected profit would be zero for that day doesn't mean they would "theoretically not lose anything". They are much more likely to make a profit or loss on the day than they are to break even.
thats true but in fiat gambling if you actually go to a casino there is pretty much no edge but in bitcoin things are just different due to the ways sites operate as they dont get many bets compared to vegas casinos who are pretty much garunteed profit due to peoples greed 
What makes you think there is "pretty much no edge" in B&M casinos? Double-zero roulette has an edge of over 5%.
And I don't know how many bets a typical Vegas casino takes per day. PrimeDice recently announced that they have taken 5 billion bets in the 2 years they've been up. That's 5000 million bets in ~700 days, or 7 million bets per day. I imagine that is more than an average B&M casino takes.
Yes thats true but my idea is not making it only 1 day but rather make it occasionally like every sunday or 2 times per month, in the long term it shouldnt affect them and it would definitely make more people interested in that specific casino
Then again, it is not likely for you as a once a month gambler to actually feel the 0,5% house edge. This is something you notice after a lot of runs. If you only go once in a while, variance will take over and you may even end up winning or losing big.
Well i see a 0% house edge casino wont make any money but im sure if some casinos made it like, special day of 0% house edge, they would surely attract a lot of players and theoretically not lose anything
There is a difference between expected profit and actual profit. Just because their expected profit would be zero for that day doesn't mean they would "theoretically not lose anything". They are much more likely to make a profit or loss on the day than they are to break even.
thats true but in fiat gambling if you actually go to a casino there is pretty much no edge but in bitcoin things are just different due to the ways sites operate as they dont get many bets compared to vegas casinos who are pretty much garunteed profit due to peoples greed
What makes you think there is "pretty much no edge" in B&M casinos? Double-zero roulette has an edge of over 5%.
And I don't know how many bets a typical Vegas casino takes per day. PrimeDice recently announced that they have taken 5 billion bets in the 2 years they've been up. That's 5000 million bets in ~700 days, or 7 million bets per day. I imagine that is more than an average B&M casino takes.
Yes thats true but my idea is not making it only 1 day but rather make it occasionally like every sunday or 2 times per month, in the long term it shouldnt affect them and it would definitely make more people interested in that specific casino
Indeed yes if you have both the same number for win and lose your profit is 0 and your net profit will be in minus since there is a cut in every winning that you got but since you are saying that both fee and the house edge are the same in this term, then your statement is wrong.
Assuming you are playing at 2x payout with 49.5 % chance and you got the same number for win and lose then your net profit is not on minus but if you are playing with 50 % chance then it is a minus
Assuming you are playing at 2x payout with 49.5 % chance and you got the same number for win and lose then your net profit is not on minus but if you are playing with 50 % chance then it is a minus
A 1% house edge is the same as paying a 1% fee on all payouts from a 0% edge game.
* 1% game: pays out 1.98x at 50%
* 0% game with 1% fee: pays out 2x at 50%, but takes 1% of that, leaving 1.98x.
Get it?
This was exactly what I was getting at
Thanks for putting it in numbers, always helps a ton! So you always lose out, no matter the structure.
Well i see a 0% house edge casino wont make any money but im sure if some casinos made it like, special day of 0% house edge, they would surely attract a lot of players and theoretically not lose anything
There is a difference between expected profit and actual profit. Just because their expected profit would be zero for that day doesn't mean they would "theoretically not lose anything". They are much more likely to make a profit or loss on the day than they are to break even.
thats true but in fiat gambling if you actually go to a casino there is pretty much no edge but in bitcoin things are just different due to the ways sites operate as they dont get many bets compared to vegas casinos who are pretty much garunteed profit due to peoples greed
What makes you think there is "pretty much no edge" in B&M casinos? Double-zero roulette has an edge of over 5%.
And I don't know how many bets a typical Vegas casino takes per day. PrimeDice recently announced that they have taken 5 billion bets in the 2 years they've been up. That's 5000 million bets in ~700 days, or 7 million bets per day. I imagine that is more than an average B&M casino takes.
Well i see a 0% house edge casino wont make any money but im sure if some casinos made it like, special day of 0% house edge, they would surely attract a lot of players and theoretically not lose anything
your wrong -.-
Well i see a 0% house edge casino wont make any money but im sure if some casinos made it like, special day of 0% house edge, they would surely attract a lot of players and theoretically not lose anything
Ahh thankyou Dooglus for this clarification I thought that the 1% fee will be leaving the net profit to be 1.99x though than this is how I assume that they are both different since 50% at gambling sites is leaving a profit for 1.98x. Since this is about 50 % chance will it still be the same assuming that it is not at 50 % chance to win Doog?
P.S : I got it right at the bolded part though although it is not entirely correct
P.S : I got it right at the bolded part though
although it is not entirely correctThe 'house edge' is effectively a fee on the entire payout amount, including your stake. 1% of 2 is 0.02, leaving 1.98x from the 2x payout.
If a site was to charge 1% of just your profit, that would be a better deal for the player. Especially for the high-chance bets (like 98%) where almost all your payout is your initial stake and the profit is relatively small.
You are right about this, it will be the same as house edge and the "fee" is usually based on the game payout which is stake + winning so in the end it will be the same with house edge calculation
P.S : never see a site that charge fee only on the winning coins though, most are from the payout (stake+winning)
I believe taking a fee just on winnings is much less profitable for a casino than an edge. Edge applies to every bet, to every strategy, when for example fee on winning just to the winning bet.
"Taking fee on winnings" could mean that the fee is taken on your payout which is stake+winning so it is the same as house edge but if the fee is only taken on winning then it would be slightly different
I believe taking a fee just on winnings is much less profitable for a casino than an edge. Edge applies to every bet, to every strategy, when for example fee on winning just to the winning bet.
I believe it would be impossible to create a casino without an edge unless you want to give out the money for free.
House edge makes the casino to earn money.
The only way would be to come up with a new way to earn from the players
House edge makes the casino to earn money.
The only way would be to come up with a new way to earn from the players
They can use advertising to fund the operation but yes the rake free model was also tried in online poker and never suceeded vs the rake sites. Maybe bitcoin makes things a little different vs fiat.
thats true but in fiat gambling if you actually go to a casino there is pretty much no edge but in bitcoin things are just different due to the ways sites operate as they dont get many bets compared to vegas casinos who are pretty much garunteed profit due to peoples greed
I believe it would be impossible to create a casino without an edge unless you want to give out the money for free.
House edge makes the casino to earn money.
The only way would be to come up with a new way to earn from the players
House edge makes the casino to earn money.
The only way would be to come up with a new way to earn from the players
They can use advertising to fund the operation but yes the rake free model was also tried in online poker and never suceeded vs the rake sites. Maybe bitcoin makes things a little different vs fiat.
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