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Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Top-tier crypto casino and sportsbook

You can use very simple mathematics formula.

probability of winning x win multiplier = average output out of 1 bet

100% - average output out of 1 bet = house edge.

Example:

https://mintdice.com/game/casino/dice

90% * 1.1 = 99% - with statistic distribution you will get 99$ out of every 100$ bet.

100% - 99% = 1% - same as ralle14 said.

Example2 - roulette betting on colour:

18/37 x 2 = 36/37 = 97,3%

100% - 97,3% = 2.7% - house edge - as you see much higher than on dice.

nc50lc

legendary

Activity: 2618

Merit: 6452

Self-proclaimed Genius

Quote from: MakaveliTA on September 02, 2019, 01:34:25 PM

Hey, I have some questions about how Dice/crash games operate that I want to clarify.
Do they take .25% of their commission on every bet?

No.

Quote from: MakaveliTA

So let's say user wins 2x he's winning 2(x*99.75) ?

And No.
You'll get what is stated in the "profit"; you bet 0.0001 for x2, you'll get +0.0001.

As everybody mentioned, it's all about the "House Edge", 1% maybe low at glance but in the long run (multiple consecutive bets),
you'll have a lower chance of winning (I even know one with 5% house edge).
Like 49.5% for a supposed to be 50% chance.
TL;DR: They earn through your loses.

Additionally, nobody have mentioned this: they gain additional income through withdrawal fees and other discreetly marketed promos that were designed to make you bet than hoard (who uses gambling sites as wallet anyways).
Notice that casinos usually have high minimum withdrawal amount but lower than the withdrawal fee minimum deposit amount? it's for ca-ching~.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Quote from: ralle14 on September 02, 2019, 06:49:51 PM

Dice sites and crash games mostly have a 1% house edge that's the accurate amount they take on all of their bets.

The amount of commission they take depends on the win probability. If I play dice with a x2 multiplier and the win probability is 49.5% that's 1%, without the house edge it should be x2.02.

This is going to be it. You're going to have to look at the house edge for any site in particular that you're on.

I'd also ensure to look for withdrawal fees, deposit fees, and so on and so forth. As they could try to sneak a couple things in there to get a little more money from you.

ralle14

legendary

Activity: 3374

Merit: 1922

Shuffle.com

Quote from: AjithBtc on September 03, 2019, 05:06:49 PM

Each game will have its own edge for the house. This is perfectly by the time of development itself. Dice/crash game won't be having any fee, as we have the funds in the inbuilt wallet and from that we keep spending. Here, no transaction happens, most of the activities gets with a contract.

Most dice and crash don't have additional fees because they're done off-chain to save transaction fees and to prevent transaction spams if anyone plans to make several bets.

But, dice sites that requires fees for every bet still exist because they make use of on-chain transactions and altcoins so fees would be cheap, an example is satoshidice.

AjithBtc

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

Each game will have its own edge for the house. This is perfectly by the time of development itself. Dice/crash game won't be having any fee, as we have the funds in the inbuilt wallet and from that we keep spending. Here, no transaction happens, most of the activities gets with a contract.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

The amount of edge varies by whatever game or site you're trying to play, though generally speaking you're going to find that most sites set this edge at 1%. Unfortunately not all sites display their house edge in plain sight, but as an example, Primedice uses 1% edge and so does Bitsler, another popular dice site on this forum. The edge for crash games will likely also vary from site to site, though I suspect crash sites set their edge to 1% as most if not all crash sites use Bustabit's script.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: MakaveliTA on September 02, 2019, 01:34:25 PM

Hey, I have some questions about how Dice/crash games operate that I want to clarify.

Do they take .25% of their commission on every bet?

So let's say user wins 2x he's winning 2(x*99.75) ?

Lets talk about the most popular crash game of all time bustabit.com

It shows 1% HE.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

You would notice that some percentage that is shown on the game itself is different from the actual multiplier. I remember if you set it at exactly 50% win rate, it wouldn't exactly give you the multiplier that you want. Let's say this, you want a multiplier of x2 (If you win, your bet amount would be doubled), but it's not exactly a 50-50% chance. It's the house edge.

Maybe the site has a FAQ or checks their about page, there could be some explanation. If it's okay to ask, what dice site are you talking about anyway?

ralle14

legendary

Activity: 3374

Merit: 1922

Shuffle.com

Dice sites and crash games mostly have a 1% house edge that's the accurate amount they take on all of their bets.

The amount of commission they take depends on the win probability. If I play dice with a x2 multiplier and the win probability is 49.5% that's 1%, without the house edge it should be x2.02.

MakaveliTA

copper member

Activity: 78

Merit: 1

Not needed anymroe appreicate the help though.

Topic: Not needed (Read 153 times)