No House Edge? - page 6. | Bitcointalksearch.org

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: XinXan on May 14, 2015, 01:08:03 AM

Quote from: arallmuus on May 14, 2015, 12:58:54 AM

Quote from: TriggerX on May 14, 2015, 12:50:10 AM

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalksearch.org/topic/my-journey-can-i-win-gambling-1052406

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

No it doesnt, it only help you to not lose more. Setting up a goal wont help in you in winning if you have a bad luck . You are contradicting your own words there. See the bolded part in your post, " you would still lose" you said it yourself.

That is my point that I am writing if you dont understand about it. Even if I set up my goal for X profit , I will still lose if bad luck occurs so it is not helping at all but setting up a goal to stop after X loses will help me not to lose more

mayflor2

sr. member

Activity: 294

Merit: 250

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 have seen a few sites do 0 house edge dice by having a player vs player system. They do wind up taking a fee, but it is usually less than what the house edge would be.

XinXan

hero member

Activity: 1064

Merit: 505

Quote from: arallmuus on May 14, 2015, 12:58:54 AM

Quote from: TriggerX on May 14, 2015, 12:50:10 AM

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalksearch.org/topic/my-journey-can-i-win-gambling-1052406

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: TriggerX on May 14, 2015, 12:50:10 AM

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalksearch.org/topic/my-journey-can-i-win-gambling-1052406

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

skmall29

member

Activity: 98

Merit: 10

Quote from: TriggerX on May 14, 2015, 12:50:10 AM

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Your chance of being in positive profit is higher than you dont know when to stop. If you dont have goals to reach before stopping its like you are waiting to your funds get busted

TriggerX

hero member

Activity: 826

Merit: 1000

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: TriggerX on May 14, 2015, 12:36:38 AM

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

It will not be a guarantee if a dice sites has no house edge then the gambler will be able to profit from since in the end it will depends on luck itself.
Playing in a site with no house edge itself will be an advantages for the gambler itself but the house usually lower the house edge in term of bonuses which of course will be obtained for X requirement

Quote from: TriggerX on May 14, 2015, 12:36:38 AM

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?

I would say it will be easier to make a profit but still not a guarantee. If you check at this site (unfortunately it has been closed) https://bitcointalksearch.org/topic/wishdicecom-first-bitcoin-dice-with-double-chance-to-win-not-launched-yet-1024221. The house is on negative house edge due to the recover loss function. In the end the site is closed since I thought it is not profitable for the house or neither the investor

P.S : OP of the site claimed that it is not that the site is not profitable but I think it is because of that

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

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

skierchewing

sr. member

Activity: 338

Merit: 250

Well, i think gamble website wins because players always want to earn like crazy multiplier from initial value...
1% for more or less for exemple... is something considerable... but not the "big" earn from the sites.

for 2x we have 50%... the problem is... when you sucessful 2x... you want to play again... in the end... let's say... 1 every 100 people will reach 100x sucessful from initial value in theory.

The question is... who reach 100x, for sure will try to earn more, and will lose it lol..., also we have a psycologic question... have you played big values?

when you starting losing alot... something bring you to "ah, i already lose so much... now i'll go crazy and go to ALL WIN" and bummm, you lose all '-'

skmall29

member

Activity: 98

Merit: 10

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?

There is still no guarantee to win or lose in every gambling, the house edge doesnt guarantee that. Its just a fee to the house thats why it looks like house is winning because of it,

TriggerX

hero member

Activity: 826

Merit: 1000

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?

Topic: No House Edge? - page 6. (Read 4741 times)