No house edge ? | Bitcointalksearch.org

minime0105

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

Casino will always win and make some money as long as they have big enough bankroll to their max. pay out per bet. you can see it because all players are being affected by the house edge the casino applies, but one lucky player cannot affect the total no. of players, so even got some lucky, it is for sure, that others are not.

buddu

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House always will win it has big bankroll and due to the nature of gambling in spite of winning big you can not take money away from gambling. A vast majority of people wins big but immediately come under influence of greed and give back everything to house. House is strong and always is attractive to win more which make people loose more money in trying to beat the house.

Daffadile

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I think that the house always has an edge of getting into your head and working on your greed but at the same time I think they need the house edge money mostly for promotions and things like that. Hack protection too against DDOS and things like that can get quite expensive when you add them all up.

BitMaxz

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

I think they are not equal and i think most people are lose in gambling than winning because of house edge that's why people are always losing and also they are not lucky to make a profit.. house is always making a profit while people are keep losing..
Honestly gambling made only to give entertainment for people. so provable you will lose.. if you are not lucky..

Joel_Jantsen

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

1.You're a yobit shit poster.You don't really intend to get anything out of these threads,you simply make them to post signature crap from your other alt accounts.You almost post 10 threads of the same type in this section.

2.You are too immature to understand what a house edge is or how gambling works.I wouldn't bother explaining it to you.

electronicfactura

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House edge is way of making profit for casino owners. Everyone doesn't always loose, this is how this works when one wins and many loose their money because of their greed. People don't look at the loosing side but watch how much someone won. People actually try to be that one who wins. This circle and greed/hope will always keep people pushing to stay in gambling. This simply will make money for house without worry.

RussianRaibow

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Quote from: JasonXG on July 14, 2016, 07:28:41 AM

Yes ok I get what ypu guys are saying but even if there is no house edge I'm sure the casino would still win due to the nature of the psychology behind gambling. Let us not down play the fact that the house has other advantages. The house has no emotions and the house does not get greedy whilst a player does. Also most players dont stop tomtyhey lose anyway. I think we have an interesting discussion going here thank you fpr your participation.

I really don't think the "other advantages" would change the odds. By the probability/odds they would still break even. If a casino had no house edge and didn't have a very large bankroll they would likely run out of money eventually if enough players were playing against them. Even if they had infinite bankroll, they would still only break even.

crytoboost

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Gambling is always depend on how lucky we are even with no house games too, so if we bet on any game which has 50 50 chance for both sides, there is nothing guaranteed for a player he will make profit for sure, the house for casinos to make profit for them.

BitcoinHodler

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

actually you have a good point here. and i agree, that i think it is possible that even with no house edge because of the nature of gamblers which is always a greedy nature, they will still continue to lose and the house can still make profit but that would make the risks more for the house which is not good for the business.

JasonXG

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Yes ok I get what ypu guys are saying but even if there is no house edge I'm sure the casino would still win due to the nature of the psychology behind gambling. Let us not down play the fact that the house has other advantages. The house has no emotions and the house does not get greedy whilst a player does. Also most players dont stop tomtyhey lose anyway. I think we have an interesting discussion going here thank you fpr your participation.

RussianRaibow

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There would be no point in running a casino/gambling site with no house edge. They would have to make at least enough money to pay for their web hosting, security, and other miscellaneous business costs, and would likely be wanting to make a profit on top of that. If the house edge was 0, the player and the house would break out even in the long run. Neither side would make any money.

bapparabi

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No house edge means no profit for the owner of the site and there is great chance of loss for him and great chance for users to win in gambling in a long term as well.

BitcoinSupremo

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Without house edge a casino cannot exist. It cannot be able to pay its support staff, employees and marketing and PR staff if its a big casino. Many of the famous casinos like directbet.eu, betcoin.ag , bitcasino.io etc have staff and they need to pay them too. So the house edge is always present in the above mentioned companies and the gambler , usually the greedy one will pay the highest price of losing everything just because of his greed. The house edge in the long run will make any gambler lose their bankroll especially if its a low one.
Rare cases have happened when some gamblers have bet max bet and won the jackpot but these cases can be counted with the fingers of one hand, so not recommended. Best to try skill games like Texas Holdem against other players, chances are higher if you are a good player.

Javi_Anibarro

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yeah, house edge doesn't mean the casino won't win, it's just a game of odds, and unfortunately you never know what can happen in a random chance, even if it's 50-50 XD

btckold24

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

house edge is there profits basically. I think your right about people gambling poorly and chasing money so even at 50/50 they make money but there definitely wouldnt
have huge casinos all over the desert without the house edge.

HCP

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That is mathematically incorrect.

If there is no house edge, then long term, the best the casino can do is to break even on the games. However, because of their costs (staff, development, rent, electricity, licenses etc) then they would lose money.

The reason that casinos still exist and function is because of the house edge. It is the one thing that guarantees that they will make money. Bigger casinos can afford a smaller house edge and trade on volume. ie. 0.5% of $100,000,000 is still $500,000. Smaller casinos with less volume often have a large house edge, as they need to ensure a higher percentage of their volume comes back as income.

No house edge would be brilliant for players (possibility of winning) compared to what we have now (pretty much guaranteed "losing") from a statistical/mathemtical point of view. However, any casino doing so would quickly go bankrupt unless they rigged their games Tongue

pooya87

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

the house edge is just the edge house has over the players. but the profit they make is only because of the greed of gamblers. so i think even with no house edge house can still make money because people will still lose their bets because for example on 2x the chance goes from 49% to 50% so there is still another 50% chance to lose.

tokeweed

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Quote from: roadbits on July 12, 2016, 10:17:43 PM

Quote from: Sarthak on July 12, 2016, 09:20:16 PM

Depends on luck really. If there is no house edge, each side has a 50-50 chance of winning. When the house edge is exactly 0, it's no more a game of chance but a game of luck

And people will of course lose if they are driven by greed and if they dream of bankrupting the house with a very small bankroll. But, this is still possible(rare though!).

So basically, with no house edge, Anyone can win in the long term. It all depends upon luck Wink

Yup, it's correct if there is no house edge I believe that 50 - 50 chance is there on both sides. But if we play opposite to house edge there is only 50% chance is there to win our bet. Yes, here our luck matter lot. If we don't have the luck, we will not make any profit.

If the odds are 50 - 50 then there's no such thing as luck. If you play long enough both sides will be breakeven. You misuse luck for variance.

roadbits

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Quote from: Sarthak on July 12, 2016, 09:20:16 PM

Depends on luck really. If there is no house edge, each side has a 50-50 chance of winning. When the house edge is exactly 0, it's no more a game of chance but a game of luck

And people will of course lose if they are driven by greed and if they dream of bankrupting the house with a very small bankroll. But, this is still possible(rare though!).

So basically, with no house edge, Anyone can win in the long term. It all depends upon luck Wink

Yup, it's correct if there is no house edge I believe that 50 - 50 chance is there on both sides. But if we play opposite to house edge there is only 50% chance is there to win our bet. Yes, here our luck matter lot. If we don't have the luck, we will not make any profit.

BicolIsarog

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The house edge is defined as the house advantage from optimal play (without the use of advanced techniques such as card counting), on the first hand of the shoe (the container that holds the cards). The set of the optimal plays for all possible hands is known as "basic strategy" and is highly dependent on the specific rules and even the number of decks used. Good blackjack games have house edges below 0.5%.

tokeweed

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Quote from: JasonXG on July 12, 2016, 09:09:42 PM

Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

That's the wrong way of thinking about it. That's how a player would think. The banker/house always thinks of the long run however slight of an edge they have. They know in the long run they always win regardless of the variance and the short term results. If you take away the edge and have it at 50/50 then it's an even game in the long run. Now why would you operate as a casino with those odds. You lose in the long run as you have to make money to keep the casino going.

Sarthak

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Depends on luck really. If there is no house edge, each side has a 50-50 chance of winning. When the house edge is exactly 0, it's no more a game of chance but a game of luck

And people will of course lose if they are driven by greed and if they dream of bankrupting the house with a very small bankroll. But, this is still possible(rare though!).

So basically, with no house edge, Anyone can win in the long term. It all depends upon luck Wink

Edit: There was a mistake. There would be a breakeven. No profit no loss at the end.

JasonXG

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Ok so house edge is basicallynthe profits the house pulls in. But I wonder...
Due to the nature of people and gambling do you still think people will lose more then win and the casino will still make money ? Do you think people will keep being greedy till everything is lost or do you think it will be equal to both player and house ?

Topic: No house edge ? (Read 761 times)