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Topic: No House Edge? - page 4. (Read 4741 times)

katerniko1
legendary
Activity: 966
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:49:38 PM
#50
Quote from: 98problems on May 14, 2015, 01:43:22 PM
Quote from: katerniko1 on May 14, 2015, 01:37:40 PM
Quote from: unholycactus on May 14, 2015, 01:34:47 PM
Quote from: katerniko1 on May 14, 2015, 01:30:39 PM
Quote from: WhatTheGox on May 14, 2015, 01:27:59 PM
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
that theory is not standing sorry. then is there is positive house edge people just lose money forever Cheesy sorry but 0 house edge would bring lot more players to try their luck

It's not free to run servers and I doubt someone would spend a lot of time building and running the site expecting no return.
but the casino would still profit, no matter what its a fact Smiley
well if all players would understand that they cant winn all casinos money and if they wouldnt bet all their balance at once or something like that i think people could beat the casino then
that is not possible its in human nature that they are greedy and they want more and more Tongue
98problems
sr. member
Activity: 364
Merit: 250
Re: No House Edge?
May 14, 2015, 01:43:22 PM
#49
Quote from: katerniko1 on May 14, 2015, 01:37:40 PM
Quote from: unholycactus on May 14, 2015, 01:34:47 PM
Quote from: katerniko1 on May 14, 2015, 01:30:39 PM
Quote from: WhatTheGox on May 14, 2015, 01:27:59 PM
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
that theory is not standing sorry. then is there is positive house edge people just lose money forever Cheesy sorry but 0 house edge would bring lot more players to try their luck

It's not free to run servers and I doubt someone would spend a lot of time building and running the site expecting no return.
but the casino would still profit, no matter what its a fact Smiley
well if all players would understand that they cant winn all casinos money and if they wouldnt bet all their balance at once or something like that i think people could beat the casino then
katerniko1
legendary
Activity: 966
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:37:40 PM
#48
Quote from: unholycactus on May 14, 2015, 01:34:47 PM
Quote from: katerniko1 on May 14, 2015, 01:30:39 PM
Quote from: WhatTheGox on May 14, 2015, 01:27:59 PM
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
that theory is not standing sorry. then is there is positive house edge people just lose money forever Cheesy sorry but 0 house edge would bring lot more players to try their luck

It's not free to run servers and I doubt someone would spend a lot of time building and running the site expecting no return.
but the casino would still profit, no matter what its a fact Smiley
unholycactus
legendary
Activity: 1078
Merit: 1024
Re: No House Edge?
May 14, 2015, 01:34:47 PM
#47
Quote from: katerniko1 on May 14, 2015, 01:30:39 PM
Quote from: WhatTheGox on May 14, 2015, 01:27:59 PM
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
that theory is not standing sorry. then is there is positive house edge people just lose money forever Cheesy sorry but 0 house edge would bring lot more players to try their luck

It's not free to run servers and I doubt someone would spend a lot of time building and running the site expecting no return.
katerniko1
legendary
Activity: 966
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:30:39 PM
#46
Quote from: WhatTheGox on May 14, 2015, 01:27:59 PM
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
that theory is not standing sorry. then is there is positive house edge people just lose money forever Cheesy sorry but 0 house edge would bring lot more players to try their luck
WhatTheGox
legendary
Activity: 812
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:27:59 PM
#45
Quote from: boopy265420 on May 14, 2015, 01:21:49 PM
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.

Zero edge in standard casino games can potentially waste players time if you are forever at zero profit/loss long term, at least when you lose your money to a casino you can get on and do something else with your life ha, ironic.
boopy265420
legendary
Activity: 1876
Merit: 1005
Re: No House Edge?
May 14, 2015, 01:21:49 PM
#44
Quote from: TriggerX on May 14, 2015, 12:36:38 AM
When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?
I don't think '' no hose edge or negative house edge '' can bring sure benefits to gamblers.Gambling is a sure way of getting nothing.It is gambling not house edge which make the gamblers loose their money.If someone says 0 house edge is good thing then I will say in reply even gambling is good in sense of profit but just for very few persons.Everyone can not win in gambling.
GrandmaJean
sr. member
Activity: 280
Merit: 250
Re: No House Edge?
May 14, 2015, 01:20:57 PM
#43
Quote from: katerniko1 on May 14, 2015, 01:16:41 PM
Quote from: WhatTheGox on May 14, 2015, 01:14:54 PM
Quote from: ABCbits on May 14, 2015, 12:44:37 AM
In theory 0% won't give you any profit or loss, since it's 0%
But, in reality even the site give you 0% house edge. Most people will lose because greed

But, if a dice site has negative house edge, gamblers might start making profit. But, some of them will lose because greed

0% hourse edge is good but nothing to be won or lost either way long term, often sites cant even make as entertaining a site due to lack of profits. 0% or very tiny house rake with p2p games is where its at.
i dont agree Smiley i think casino would still profit
of course they would because there are a lot of gamblers that dont know how to play they either loose everything because of greed or they just do rage bets to recover the losses what leads into even bigger loose
WhatTheGox
legendary
Activity: 812
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:19:09 PM
#42
Quote from: katerniko1 on May 14, 2015, 01:16:41 PM
Quote from: WhatTheGox on May 14, 2015, 01:14:54 PM
Quote from: ABCbits on May 14, 2015, 12:44:37 AM
In theory 0% won't give you any profit or loss, since it's 0%
But, in reality even the site give you 0% house edge. Most people will lose because greed

But, if a dice site has negative house edge, gamblers might start making profit. But, some of them will lose because greed

0% hourse edge is good but nothing to be won or lost either way long term, often sites cant even make as entertaining a site due to lack of profits. 0% or very tiny house rake with p2p games is where its at.
i dont agree Smiley i think casino would still profit

I think if you want to gamble and make -ev bets im fine with a dice site taking 1% or something, they make the game more fun. If you want to be a professional gambler dont make -ev bets.
katerniko1
legendary
Activity: 966
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:16:41 PM
#41
Quote from: WhatTheGox on May 14, 2015, 01:14:54 PM
Quote from: ABCbits on May 14, 2015, 12:44:37 AM
In theory 0% won't give you any profit or loss, since it's 0%
But, in reality even the site give you 0% house edge. Most people will lose because greed

But, if a dice site has negative house edge, gamblers might start making profit. But, some of them will lose because greed

0% hourse edge is good but nothing to be won or lost either way long term, often sites cant even make as entertaining a site due to lack of profits. 0% or very tiny house rake with p2p games is where its at.
i dont agree Smiley i think casino would still profit
WhatTheGox
legendary
Activity: 812
Merit: 1000
Re: No House Edge?
May 14, 2015, 01:14:54 PM
#40
Quote from: ABCbits on May 14, 2015, 12:44:37 AM
In theory 0% won't give you any profit or loss, since it's 0%
But, in reality even the site give you 0% house edge. Most people will lose because greed

But, if a dice site has negative house edge, gamblers might start making profit. But, some of them will lose because greed

0% hourse edge is good but nothing to be won or lost either way long term, often sites cant even make as entertaining a site due to lack of profits. 0% or very tiny house rake with p2p games is where its at.
Minnlo
hero member
Activity: 868
Merit: 1000
Re: No House Edge?
May 14, 2015, 12:46:35 PM
#39
Quote from: unholycactus on May 14, 2015, 12:16:48 PM
Quote from: Dennis7777 on May 14, 2015, 11:56:05 AM
Quote from: XinXan on May 14, 2015, 11:30:19 AM
Quote from: bitllionaire on May 14, 2015, 08:44:35 AM
Even with negative house edge is difficult to make profit,because you have to know to have a strategy
moneypot has a way to have negative edge,but even that way,it is really difficult to make profit

No, its not hard, just bet flat bets and you will eventually start making profit forever depending on how big the negative house edge is, will happen sooner or later

More precisely, the bet size should be determined using Kelly formula (FYI: http://en.wikipedia.org/wiki/Kelly_criterion), and you should be making a easy profit with very very small risk.

People have trouble understanding how the long run works.

Kelly bets are still risky considering you'll lose all your money in the long run because you'll eventually get unlucky and lose your whole bankroll if it's limited.

If the house edge is -1%, you would be just betting 1% of your bankroll each time. It is very unlikely to have a long enough loss streak to wipe out a good portion of your bankroll. For example, 10 losses in a row will just make you lose 9.56% (=1-99%^10) and 30 losses in row will make you lose 26% (=1-99%^30) of your bankroll.

Even if Nakowa had great luck to win a lot in JD, the house just steadily recouped the losses with a 1% positive EV.


Quote from: Bombs on May 14, 2015, 12:17:39 PM
I don't think any site has no house edge, and you can never make money gambling even if there wasn't an edge

A few PVP games have zero house edge, such as PD PVP and Peerbet raffles.
vendetahome
hero member
Activity: 658
Merit: 500
Re: No House Edge?
May 14, 2015, 12:42:19 PM
#38
Quote from: Bombs on May 14, 2015, 12:17:39 PM
I don't think any site has no house edge, and you can never make money gambling even if there wasn't an edge
you can make money with house edge if you know when to quit gambling not even talking about a website without house edge, of course you cant beat the casino all in all but its false that you can make any money
Bombs
newbie
Activity: 13
Merit: 0
Re: No House Edge?
May 14, 2015, 12:17:39 PM
#37
I don't think any site has no house edge, and you can never make money gambling even if there wasn't an edge
unholycactus
legendary
Activity: 1078
Merit: 1024
Re: No House Edge?
May 14, 2015, 12:16:48 PM
#36
Quote from: Dennis7777 on May 14, 2015, 11:56:05 AM
Quote from: XinXan on May 14, 2015, 11:30:19 AM
Quote from: bitllionaire on May 14, 2015, 08:44:35 AM
Even with negative house edge is difficult to make profit,because you have to know to have a strategy
moneypot has a way to have negative edge,but even that way,it is really difficult to make profit

No, its not hard, just bet flat bets and you will eventually start making profit forever depending on how big the negative house edge is, will happen sooner or later

More precisely, the bet size should be determined using Kelly formula (FYI: http://en.wikipedia.org/wiki/Kelly_criterion), and you should be making a easy profit with very very small risk.

People have trouble understanding how the long run works.

Kelly bets are still risky considering you'll lose all your money in the long run because you'll eventually get unlucky and lose your whole bankroll if it's limited.
Dennis7777
hero member
Activity: 640
Merit: 500
Re: No House Edge?
May 14, 2015, 11:56:05 AM
#35
Quote from: XinXan on May 14, 2015, 11:30:19 AM
Quote from: bitllionaire on May 14, 2015, 08:44:35 AM
Even with negative house edge is difficult to make profit,because you have to know to have a strategy
moneypot has a way to have negative edge,but even that way,it is really difficult to make profit

No, its not hard, just bet flat bets and you will eventually start making profit forever depending on how big the negative house edge is, will happen sooner or later

More precisely, the bet size should be determined using Kelly formula (FYI: http://en.wikipedia.org/wiki/Kelly_criterion), and you should be making a easy profit with very very small risk.
XinXan
hero member
Activity: 1064
Merit: 505
Re: No House Edge?
May 14, 2015, 11:30:19 AM
#34
Quote from: bitllionaire on May 14, 2015, 08:44:35 AM
Even with negative house edge is difficult to make profit,because you have to know to have a strategy
moneypot has a way to have negative edge,but even that way,it is really difficult to make profit

No, its not hard, just bet flat bets and you will eventually start making profit forever depending on how big the negative house edge is, will happen sooner or later
vendetahome
hero member
Activity: 658
Merit: 500
Re: No House Edge?
May 14, 2015, 11:29:44 AM
#33
cant you just roll on dice without house edge until you get some profit then quit it and go to another? in that way you should be able to make profit and never loose if you have a really big balance. i think that would be unprofitable for casinos
unholycactus
legendary
Activity: 1078
Merit: 1024
Re: No House Edge?
May 14, 2015, 11:27:02 AM
#32
Quote from: kotwica666 on May 14, 2015, 03:29:23 AM
Gambling always will be about luck. Someone will win someone loses - it will always be like that Wink 0% or 1% House Edge doesn't change that much.

It changes everything with a big volume. I would never take a bet where I'm 1% down but I would always take a bet where I'm 1% up.
RHavar
legendary
Activity: 1463
Merit: 1886
Re: No House Edge?
May 14, 2015, 09:25:40 AM
#31
Quote from: bitllionaire on May 14, 2015, 08:44:35 AM
Even with negative house edge is difficult to make profit,because you have to know to have a strategy
moneypot has a way to have negative edge,but even that way,it is really difficult to make profit

Actually, bustabit doesn't have a negative house edge but rather makes it possible (through PvP) for players to be +EV. In many ways it's like poker, you can play poker profitably at the expense of another players, but the house isn't -EV


No one should expect a casino to offer a no-house edge any time soon (other than PvP games), as the risk is simply astronomical. Games like bustabit with a small house edge (0 to 1%) at times has been financially challenging to run, we've had a 24 hour period of time that's wiped away 3 month of profit. (Imagine a greedy player: 99.9% of the time he's going to lose, but the time he wins ... you're going to be hurt).

My intuition tells me a casino could be profitable on a 0.1% house edge, but it would require a huge bankroll to be able to support whales which often make a significant portion of a casinos profit.
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