Topic: Provably fair gambling sites (Read 2716 times)

Quote from: MichaelSicili on March 14, 2015, 12:05:33 AM

Quote from: alani123 on March 13, 2015, 10:43:24 PM

moneypot.com

primedice.com

satoshidice.com

luckyb.it

Just-dice.com

they're all provably fair, but their house edge varies from 0.5% to 1.9%. The house always wins anyway.

which one the most little house edge?
house edge take effect on our game?

Primedice have 0.9% house edge
And lucky.bit have about 1% house edge

If you need dice site with low house edge, then try SafeDice
They only have 0.5% House edge

And if you need site with 0% house edge, try BitBink

GannickusX

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Activity: 490

Merit: 500

Quote from: goose20 on March 15, 2015, 04:43:05 PM

Quote from: Bardman on March 15, 2015, 11:24:02 AM

Quote from: a1choi on March 15, 2015, 10:52:37 AM

I still didnt understand what is he doing, what system is he using, could explain?

He isn't using a system, he is flatbetting.

To get a profit of 200k with a 0% house edge? It pretty much means impossible

It's impossible for one person on one try. But take a LOT of people trying this, and maybe one person will do it. Thats the point. That one person is not an impossibility, and if you are a casino operator, you will not want that possibility to happen.

Do you know the chances of that happening? Winning 200.000 times more than loosing? With a 50/50? Calculate them and then you will realize how mistaken you were

Seriously, are you trolling or what???

He has bet 46000000000... that's BILLION... times. He is only up 338000.

Calc 338k / 46 billion. = 0.000007%.

Now ask the question again, does it seem possible someone could be up only 7 after a massive 100000 bets. YES, seems easily possible to me... I seriously dont get why you think this would be so impossible.

Is it the big numbers that's confusing you?

First of all it is impossible for someone to make a billion bets, even a million its extremely hard so thats that, now if he were to make 1 million bets he would win 7 btc with a 0.000007% chance so yeah as you can see unless he finds a way to make billions of bets the 0% house edge casino would still win

rizkyhiw

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Quote from: MichaelSicili on March 14, 2015, 12:05:33 AM

Quote from: alani123 on March 13, 2015, 10:43:24 PM

moneypot.com

primedice.com

satoshidice.com

luckyb.it

Just-dice.com

they're all provably fair, but their house edge varies from 0.5% to 1.9%. The house always wins anyway.

which one the most little house edge?
house edge take effect on our game?

Primedice have 0.9% house edge
And lucky.bit have about 1% house edge

If you need dice site with low house edge, then try SafeDice
They only have 0.5% House edge

i've played in luckybit, it was funny
primedice yeah its very famous around here.
oh really just 0.5%? but the site is legit? imean safedice legit?

Tlee88

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Activity: 364

Merit: 250

I would recommend

1. Rollin.io
2. Bitzino

goose20

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Quote from: Bardman on March 15, 2015, 11:24:02 AM

Quote from: a1choi on March 15, 2015, 10:52:37 AM

I still didnt understand what is he doing, what system is he using, could explain?

He isn't using a system, he is flatbetting.

Quote from: a1choi on March 15, 2015, 10:52:37 AM

To get a profit of 200k with a 0% house edge? It pretty much means impossible

It's impossible for one person on one try. But take a LOT of people trying this, and maybe one person will do it. Thats the point. That one person is not an impossibility, and if you are a casino operator, you will not want that possibility to happen.

Do you know the chances of that happening? Winning 200.000 times more than loosing? With a 50/50? Calculate them and then you will realize how mistaken you were

Seriously, are you trolling or what???

He has bet 46000000000... that's BILLION... times. He is only up 338000.

Calc 338k / 46 billion. = 0.000007%.

Now ask the question again, does it seem possible someone could be up only 7 after a massive 100000 bets. YES, seems easily possible to me... I seriously dont get why you think this would be so impossible.

Is it the big numbers that's confusing you?

Bardman

hero member

Activity: 952

Merit: 516

I still didnt understand what is he doing, what system is he using, could explain?

He isn't using a system, he is flatbetting.

To get a profit of 200k with a 0% house edge? It pretty much means impossible

It's impossible for one person on one try. But take a LOT of people trying this, and maybe one person will do it. Thats the point. That one person is not an impossibility, and if you are a casino operator, you will not want that possibility to happen.

Do you know the chances of that happening? Winning 200.000 times more than loosing? With a 50/50? Calculate them and then you will realize how mistaken you were

a1choi

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Activity: 323

Merit: 254

I still didnt understand what is he doing, what system is he using, could explain?

He isn't using a system, he is flatbetting.

Quote from: a1choi on March 15, 2015, 10:24:40 AM

To get a profit of 200k with a 0% house edge? It pretty much means impossible

It's impossible for one person on one try. But take a LOT of people trying this, and maybe one person will do it. Thats the point. That one person is not an impossibility, and if you are a casino operator, you will not want that possibility to happen.

Bardman

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Quote from: Bardman on March 15, 2015, 10:08:46 AM

Quote from: a1choi on March 15, 2015, 10:32:35 AM

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

What do you mean double his coins? Double 1 btc 17.6 times? Like 1,2,4,8,16,32,64 ... ? Because if thats what you saying it would be impossible since casinos have a max bet so i still dont see how that is possible unless you explain yourself better

Looks like i didn't look at the simulation code. The code basically does a bet of 1 for each round (thus satisfying any concerns about max bet limits). And thus, the bettor was able to get a profit of 200k with only bets of 1. This might seem impossible, but it clearly isn't. I'm sure someone with better math skills that I have can figure out the probability of this happening, and it clearly is > 0.

The probability of this happening is much much smaller than 1/200000, but still larger than 0.

TLDR Minuscule probability doesn't mean impossible.

To get a profit of 200k with a 0% house edge? It pretty much means impossible

Bardman

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Activity: 952

Merit: 516

Quote from: havecoch on March 15, 2015, 10:27:48 AM

Quote from: havecoch on March 15, 2015, 10:27:48 AM

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

It is far fetched if you consider the total number of total possibilities that exist and he would have to hit that streak on the first bet.

it's far fetched to believe YOU will be the 1 out of 200k people to win in this scenario. It isn't far fetched to believe that there WILL be 1 out of 200k people to do it. as this is what the probabilities tell us. (notice that in real life results, you'll have some factor of variance along with this mean)

I still didnt understand what is he doing, what system is he using, could explain?

a1choi

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Activity: 323

Merit: 254

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

It is far fetched if you consider the total number of total possibilities that exist and he would have to hit that streak on the first bet.

it's far fetched to believe YOU will be the 1 out of 200k people to win in this scenario. It isn't far fetched to believe that there WILL be 1 out of 200k people to do it. as this is what the probabilities tell us. (notice that in real life results, you'll have some factor of variance along with this mean)

havecoch

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Quote from: Bardman on March 15, 2015, 10:08:46 AM

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

It is far fetched if you consider the total number of total possibilities that exist and he would have to hit that streak on the first bet.

a1choi

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Activity: 323

Merit: 254

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

What do you mean double his coins? Double 1 btc 17.6 times? Like 1,2,4,8,16,32,64 ... ? Because if thats what you saying it would be impossible since casinos have a max bet so i still dont see how that is possible unless you explain yourself better

Looks like i didn't look at the simulation code. The code basically does a bet of 1 for each round (thus satisfying any concerns about max bet limits). And thus, the bettor was able to get a profit of 200k with only bets of 1. This might seem impossible, but it clearly isn't. I'm sure someone with better math skills that I have can figure out the probability of this happening, and it clearly is > 0.

The probability of this happening is much much smaller than 1/200000, but still larger than 0.

TLDR Minuscule probability doesn't mean impossible.

Bardman

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Activity: 952

Merit: 516

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

What do you mean double his coins? Double 1 btc 17.6 times? Like 1,2,4,8,16,32,64 ... ? Because if thats what you saying it would be impossible since casinos have a max bet so i still dont see how that is possible unless you explain yourself better

a1choi

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Activity: 323

Merit: 254

Quote from: goose20 on March 14, 2015, 06:40:46 PM

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

He'd only need to double his coins 17.6 times to earn more than 200K coins starting from 1. The probability of that happening is 0.5^17.6 is 1/200000. Which means 1 out of 200000 people will encounter this. Doesn't seem too far fetched to me.

oldmate

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#1 Diggit.io Investor

You can browse a list of nearly all Bitcoin casinos on TheBitcoinStrip.com and filter by "provably fair" up the top right.

Bardman

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Merit: 516

Quote from: Bardman on March 14, 2015, 12:55:16 PM

Quote from: Bardman on March 14, 2015, 12:55:16 PM

If i write a simulation using martingale i will eventually bust, and that would happen with any other strategy, why dont you try it yourself, your reasoning is incorrect not mine, the ones that dont will bust the house? People are greedy, for example the guy who won 7k btc on just-dice and ended up loosing, people its always greedy and thats why a 0% house edge casino would still win

Ok, let's do it -- a simple simulation of a greedy player who never stops gambling (unless he busts):

Code:

var startingBankroll = 100;
var bet = 1;

while(true) {
var bankroll = startingBankroll;

for (var i = 1; bankroll > 0; ++i) {

bankroll += Math.random() < 0.5 ? bet : -bet;

if (i % 100000000 === 0)
console.log('Player has made', i , 'bets at a profit of:', bankroll-startingBankroll, ' BTC');
}
console.log('PLAYER BUST!');
}

Now run that, and watch as the vast majority of players will bust. But occasionally you'll get to a real gem like this guy:

Quote

Player has made 2300000000 bets at a profit of: 161962 BTC
Player has made 2400000000 bets at a profit of: 175434 BTC
Player has made 2500000000 bets at a profit of: 195960 BTC
Player has made 2600000000 bets at a profit of: 207738 BTC
Player has made 2700000000 bets at a profit of: 205418 BTC
Player has made 2800000000 bets at a profit of: 209382 BTC
Player has made 2900000000 bets at a profit of: 206398 BTC
Player has made 3000000000 bets at a profit of: 217148 BTC
Player has made 3100000000 bets at a profit of: 237032 BTC
Player has made 3200000000 bets at a profit of: 251848 BTC
Player has made 3300000000 bets at a profit of: 248634 BTC
Player has made 3400000000 bets at a profit of: 252256 BTC
Player has made 3500000000 bets at a profit of: 251060 BTC
Player has made 3600000000 bets at a profit of: 260898 BTC
Player has made 3700000000 bets at a profit of: 281134 BTC
Player has made 3800000000 bets at a profit of: 294792 BTC
Player has made 3900000000 bets at a profit of: 291088 BTC
Player has made 4000000000 bets at a profit of: 295030 BTC
Player has made 4100000000 bets at a profit of: 295540 BTC
Player has made 4200000000 bets at a profit of: 304886 BTC
Player has made 4300000000 bets at a profit of: 323828 BTC
Player has made 4400000000 bets at a profit of: 337964 BTC
Player has made 4500000000 bets at a profit of: 334380 BTC
Player has made 4600000000 bets at a profit of: 338690 BTC

You really think the casino can handle billions of more bets, hoping it can make its hundreds of thousands of bitcoins back? And do you honestly think a casino would be willing to expose itself to unbounded liability for 0 expected profit?! It doesn't work, never has, never will.

But perhaps, what we'll see is bet-match-making where 0% house edge is actually feasible. That way players can play with 0-edge, and casinos aren't the counter-party

I dont understand that at all, what is that player using? Martingale? And how is he making 4 bilion bets?

I'm no coder, but the code seems straightforward to follow... the player starts with 100 and bets 1 each go at 50%.

This player has not yet busted and is up 338k after 46 billion bets.

The point is espringe is correct in his analysis and his explanation.

People have it ingrained in their heads that 'the house always wins'. This is due to a house edge, even if its 0.01%. No casino could survive offering only 0% games.

If he is betting 1 btc each time, the expected profit in the long term is 0, how is he able to make 200.000 bitcoins? How is he able to win 200.000 more than loosing when the chances are 50/50? Makes no sense

goose20

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Quote from: activebiz on March 14, 2015, 05:18:52 PM

If i write a simulation using martingale i will eventually bust, and that would happen with any other strategy, why dont you try it yourself, your reasoning is incorrect not mine, the ones that dont will bust the house? People are greedy, for example the guy who won 7k btc on just-dice and ended up loosing, people its always greedy and thats why a 0% house edge casino would still win

Ok, let's do it -- a simple simulation of a greedy player who never stops gambling (unless he busts):

Code:

var startingBankroll = 100;
var bet = 1;

while(true) {
var bankroll = startingBankroll;

for (var i = 1; bankroll > 0; ++i) {

bankroll += Math.random() < 0.5 ? bet : -bet;

if (i % 100000000 === 0)
console.log('Player has made', i , 'bets at a profit of:', bankroll-startingBankroll, ' BTC');
}
console.log('PLAYER BUST!');
}

Now run that, and watch as the vast majority of players will bust. But occasionally you'll get to a real gem like this guy:

Quote

Player has made 2300000000 bets at a profit of: 161962 BTC
Player has made 2400000000 bets at a profit of: 175434 BTC
Player has made 2500000000 bets at a profit of: 195960 BTC
Player has made 2600000000 bets at a profit of: 207738 BTC
Player has made 2700000000 bets at a profit of: 205418 BTC
Player has made 2800000000 bets at a profit of: 209382 BTC
Player has made 2900000000 bets at a profit of: 206398 BTC
Player has made 3000000000 bets at a profit of: 217148 BTC
Player has made 3100000000 bets at a profit of: 237032 BTC
Player has made 3200000000 bets at a profit of: 251848 BTC
Player has made 3300000000 bets at a profit of: 248634 BTC
Player has made 3400000000 bets at a profit of: 252256 BTC
Player has made 3500000000 bets at a profit of: 251060 BTC
Player has made 3600000000 bets at a profit of: 260898 BTC
Player has made 3700000000 bets at a profit of: 281134 BTC
Player has made 3800000000 bets at a profit of: 294792 BTC
Player has made 3900000000 bets at a profit of: 291088 BTC
Player has made 4000000000 bets at a profit of: 295030 BTC
Player has made 4100000000 bets at a profit of: 295540 BTC
Player has made 4200000000 bets at a profit of: 304886 BTC
Player has made 4300000000 bets at a profit of: 323828 BTC
Player has made 4400000000 bets at a profit of: 337964 BTC
Player has made 4500000000 bets at a profit of: 334380 BTC
Player has made 4600000000 bets at a profit of: 338690 BTC

You really think the casino can handle billions of more bets, hoping it can make its hundreds of thousands of bitcoins back? And do you honestly think a casino would be willing to expose itself to unbounded liability for 0 expected profit?! It doesn't work, never has, never will.

But perhaps, what we'll see is bet-match-making where 0% house edge is actually feasible. That way players can play with 0-edge, and casinos aren't the counter-party

I dont understand that at all, what is that player using? Martingale? And how is he making 4 bilion bets?

I'm no coder, but the code seems straightforward to follow... the player starts with 100 and bets 1 each go at 50%.

This player has not yet busted and is up 338k after 46 billion bets.

The point is espringe is correct in his analysis and his explanation.

People have it ingrained in their heads that 'the house always wins'. This is due to a house edge, even if its 0.01%. No casino could survive offering only 0% games.

birdcat90

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Activity: 602

Merit: 500

the only thing that i know is Primedice, just dice and new dice that just launched looks like primedice but hope its work like that too

its so hard to find site that really fair, at least some will d0 tricky things

adaseb

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Activity: 3808

Merit: 1723

Most sites these days use provably fair.

However you need to keep in mind that since the client seed doesn't usually change, they can still cheat you assuming you never change your seed.

asuryan180

hero member

Activity: 868

Merit: 1000

I would give Dadice a go they are spending a good amount on their campaign and that is a good sign to me that they mean business and they are not about to release a unfair dice site that will not last a week before complaints ya know, has graphics and is a fun experience highly recommended and not just because i am wearing their sig lol

deluxeCITY

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Activity: 532

Merit: 500

I don't think there are such casinos around. the best suggestions would be primedice, coinroyale.

There are fair casino's just look at any that have been out the longest and i am sure if there was a problem then there would be multiple complaints in any amount of time before i started my sig campaign i played bitdice and never had a problem in well over 5 months the site has been going over a year so i recommend them for that plus a decent owner who will not do a runnerr.

activebiz

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Activity: 518

Merit: 500

I don't think there are such casinos around. the best suggestions would be primedice, coinroyale.

GannickusX

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Activity: 490

Merit: 500

Quote from: janggernaut on March 13, 2015, 10:38:02 PM

If i write a simulation using martingale i will eventually bust, and that would happen with any other strategy, why dont you try it yourself, your reasoning is incorrect not mine, the ones that dont will bust the house? People are greedy, for example the guy who won 7k btc on just-dice and ended up loosing, people its always greedy and thats why a 0% house edge casino would still win

Ok, let's do it -- a simple simulation of a greedy player who never stops gambling (unless he busts):

Code:

var startingBankroll = 100;
var bet = 1;

while(true) {
var bankroll = startingBankroll;

for (var i = 1; bankroll > 0; ++i) {

bankroll += Math.random() < 0.5 ? bet : -bet;

if (i % 100000000 === 0)
console.log('Player has made', i , 'bets at a profit of:', bankroll-startingBankroll, ' BTC');
}
console.log('PLAYER BUST!');
}

Now run that, and watch as the vast majority of players will bust. But occasionally you'll get to a real gem like this guy:

Quote

Player has made 2300000000 bets at a profit of: 161962 BTC
Player has made 2400000000 bets at a profit of: 175434 BTC
Player has made 2500000000 bets at a profit of: 195960 BTC
Player has made 2600000000 bets at a profit of: 207738 BTC
Player has made 2700000000 bets at a profit of: 205418 BTC
Player has made 2800000000 bets at a profit of: 209382 BTC
Player has made 2900000000 bets at a profit of: 206398 BTC
Player has made 3000000000 bets at a profit of: 217148 BTC
Player has made 3100000000 bets at a profit of: 237032 BTC
Player has made 3200000000 bets at a profit of: 251848 BTC
Player has made 3300000000 bets at a profit of: 248634 BTC
Player has made 3400000000 bets at a profit of: 252256 BTC
Player has made 3500000000 bets at a profit of: 251060 BTC
Player has made 3600000000 bets at a profit of: 260898 BTC
Player has made 3700000000 bets at a profit of: 281134 BTC
Player has made 3800000000 bets at a profit of: 294792 BTC
Player has made 3900000000 bets at a profit of: 291088 BTC
Player has made 4000000000 bets at a profit of: 295030 BTC
Player has made 4100000000 bets at a profit of: 295540 BTC
Player has made 4200000000 bets at a profit of: 304886 BTC
Player has made 4300000000 bets at a profit of: 323828 BTC
Player has made 4400000000 bets at a profit of: 337964 BTC
Player has made 4500000000 bets at a profit of: 334380 BTC
Player has made 4600000000 bets at a profit of: 338690 BTC

You really think the casino can handle billions of more bets, hoping it can make its hundreds of thousands of bitcoins back? And do you honestly think a casino would be willing to expose itself to unbounded liability for 0 expected profit?! It doesn't work, never has, never will.

But perhaps, what we'll see is bet-match-making where 0% house edge is actually feasible. That way players can play with 0-edge, and casinos aren't the counter-party

Im sorry to tell you but your simulation is wrong or i just didnt understand how was the player betting

superSTAR777

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Activity: 252

Merit: 250

★777Coin.com★ Fun BTC Casino!

can anyone give me suggest about 5 gambling sites which really use "Provably fair"?
because many people said, "house always win".

house edge wins , doesnt means site is not provably fair , just its that site maintain a edge to make profit and there ar tons of honest sites

like primedice, prcdice , etc

Bardman

hero member

Activity: 952

Merit: 516

Quote from: Bardman on March 14, 2015, 12:55:16 PM

I dont understand that at all, what is that player using? Martingale? And how is he making 4 bilion bets?

He is able to make that many bets -- because he hasn't yet busted. In my simulation, the player never quits until he's busted (just like you said, about a player being greedy). So even though he's up hundreds of thousands of bitcoins, he caries on. Which just shows how ridiculous using the "greed" nonsense is. With no house edge, a player being greedy doesn't help the casino -- just increases its chance of the casino busting (all for making 0 expected return. a silly value proposition)

What strategy is he using Huh

DogecoinMachine

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Activity: 2901

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www.Crypto.Games: Multiple Games, Multiple Coins

https//www.crypto-games.net -> Provably Fair Dice & Slot

Bardman

hero member

Activity: 952

Merit: 516

If i write a simulation using martingale i will eventually bust, and that would happen with any other strategy, why dont you try it yourself, your reasoning is incorrect not mine, the ones that dont will bust the house? People are greedy, for example the guy who won 7k btc on just-dice and ended up loosing, people its always greedy and thats why a 0% house edge casino would still win

Ok, let's do it -- a simple simulation of a greedy player who never stops gambling (unless he busts):

Code:

var startingBankroll = 100;
var bet = 1;

while(true) {
var bankroll = startingBankroll;

for (var i = 1; bankroll > 0; ++i) {

bankroll += Math.random() < 0.5 ? bet : -bet;

if (i % 100000000 === 0)
console.log('Player has made', i , 'bets at a profit of:', bankroll-startingBankroll, ' BTC');
}
console.log('PLAYER BUST!');
}

Now run that, and watch as the vast majority of players will bust. But occasionally you'll get to a real gem like this guy:

Quote

Player has made 2300000000 bets at a profit of: 161962 BTC
Player has made 2400000000 bets at a profit of: 175434 BTC
Player has made 2500000000 bets at a profit of: 195960 BTC
Player has made 2600000000 bets at a profit of: 207738 BTC
Player has made 2700000000 bets at a profit of: 205418 BTC
Player has made 2800000000 bets at a profit of: 209382 BTC
Player has made 2900000000 bets at a profit of: 206398 BTC
Player has made 3000000000 bets at a profit of: 217148 BTC
Player has made 3100000000 bets at a profit of: 237032 BTC
Player has made 3200000000 bets at a profit of: 251848 BTC
Player has made 3300000000 bets at a profit of: 248634 BTC
Player has made 3400000000 bets at a profit of: 252256 BTC
Player has made 3500000000 bets at a profit of: 251060 BTC
Player has made 3600000000 bets at a profit of: 260898 BTC
Player has made 3700000000 bets at a profit of: 281134 BTC
Player has made 3800000000 bets at a profit of: 294792 BTC
Player has made 3900000000 bets at a profit of: 291088 BTC
Player has made 4000000000 bets at a profit of: 295030 BTC
Player has made 4100000000 bets at a profit of: 295540 BTC
Player has made 4200000000 bets at a profit of: 304886 BTC
Player has made 4300000000 bets at a profit of: 323828 BTC
Player has made 4400000000 bets at a profit of: 337964 BTC
Player has made 4500000000 bets at a profit of: 334380 BTC
Player has made 4600000000 bets at a profit of: 338690 BTC

You really think the casino can handle billions of more bets, hoping it can make its hundreds of thousands of bitcoins back? And do you honestly think a casino would be willing to expose itself to unbounded liability for 0 expected profit?! It doesn't work, never has, never will.

But perhaps, what we'll see is bet-match-making where 0% house edge is actually feasible. That way players can play with 0-edge, and casinos aren't the counter-party

I dont understand that at all, what is that player using? Martingale? And how is he making 4 bilion bets?

Bardman

hero member

Activity: 952

Merit: 516

Quote from: janggernaut on March 13, 2015, 10:38:02 PM

can anyone give me suggest about 5 gambling sites which really use "Provably fair"?
because many people said, "house always win".

Provably fair simply means -- "if the casino cheats you, you can detect it". It doesn't mean you can stop them cheating you (you can't) and doesn't mean you expect to make money (you don't). It just means that if the casino is cheating you, it's detectable.

Quote from: janggernaut on March 13, 2015, 10:58:24 PM

ok, thank you all,
but how about 999dice? its recommended for gambling?

No, definitely not. They lie about being provably fair, with a backdoor scheme. If they cheat you, you can't know for sure. Hence it being not provably fair. This place is scum anyway, you should avoid it. They also claim to operate on a 0.05% margin, while allowing 40 BTC wins. lolz

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

There are. Some PvP games allow no edge (since they're not exposed to any risk). Money Pot allows you to play with a 0% house edge (by instantly cashing out) at the expense of being bait to bonus snatchers. DirectDice spams every thread with claims of 0% for frequent betters. I haven't looked into it though, as it sounds like some tard/scammy scheme.

Quote from: Bardman on March 14, 2015, 11:18:56 AM

Not really?? With a 0% house edge casinos would still win

That's incorrect, as is your reasoning. You can write a simulation if you don't believe it. But even if the vast-majority of people will bust with a 0% house edge, the ones that don't will bust the house. A casino couldn't safely offer a 0 house edge game for a single satoshi if it could be played an infinite amount of times.

If i write a simulation using martingale i will eventually bust, and that would happen with any other strategy, why dont you try it yourself, your reasoning is incorrect not mine, the ones that dont will bust the house? People are greedy, for example the guy who won 7k btc on just-dice and ended up loosing, people its always greedy and thats why a 0% house edge casino would still win

micromen

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Crypto-Games.net: Multiple Games, Multiple Coins

personally I like safedice.com

Slark

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Op, as you now probably know gambling is not that easy you will probably lose more than you win. You will lose no matter what, it does not matter if game is rigged or it is "provably fair" I got the impression that you are looking for a online bitcoin casino which is better than most because it will allow you to win more. There is no such place. So just pick your favourite casino and start playing.

Shogen

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Quote from: Bardman on March 14, 2015, 11:18:56 AM

Quote from: goose20 on March 14, 2015, 11:15:12 AM

Quote from: Minnlo on March 14, 2015, 10:48:31 AM

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

A dice with 0% house edge would still make profit so i dont know why no one made it, it would atract a lot of players

I don't quite get it. By definition, "0% house edge" means the game has a expected value of zero to both the players and the house.
So how would a 0% house edge game bring profit to the house?

It doesn't in itself.

But the house hopes players will play other house games that do have a house edge.

It's a marketing strategy.

Not really?? With a 0% house edge casinos would still win, why? Easy at the moment you start using a strategy, it doesnt matter you name it, martingale you would still lose using martingale, yes the odds are a bit better per bet now but you will still see 20 lose streaks or more, the 0 house edge only affects players if you bet static, you bet 10k satoshis every bet, yes in the long term you would have a 0 profit but no one is gonna do that, right? So as i said before casinos would still win

Well it looks like you are assuming people will keep on playing until they are broke. Tongue

With that assumption, I guess you are right. A player need to have extremely good luck to wipe out the house bankroll before losing all his money, when the house has hundreds or thousands times more bitcoin.

Bardman

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Quote from: goose20 on March 14, 2015, 11:15:12 AM

Quote from: Minnlo on March 14, 2015, 10:48:31 AM

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

A dice with 0% house edge would still make profit so i dont know why no one made it, it would atract a lot of players

I don't quite get it. By definition, "0% house edge" means the game has a expected value of zero to both the players and the house.
So how would a 0% house edge game bring profit to the house?

It doesn't in itself.

But the house hopes players will play other house games that do have a house edge.

It's a marketing strategy.

Not really?? With a 0% house edge casinos would still win, why? Easy at the moment you start using a strategy, it doesnt matter you name it, martingale you would still lose using martingale, yes the odds are a bit better per bet now but you will still see 20 lose streaks or more, the 0 house edge only affects players if you bet static, you bet 10k satoshis every bet, yes in the long term you would have a 0 profit but no one is gonna do that, right? So as i said before casinos would still win

goose20

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Quote from: Minnlo on March 14, 2015, 10:48:31 AM

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

A dice with 0% house edge would still make profit so i dont know why no one made it, it would atract a lot of players

I don't quite get it. By definition, "0% house edge" means the game has a expected value of zero to both the players and the house.
So how would a 0% house edge game bring profit to the house?

It doesn't in itself.

But the house hopes players will play other house games that do have a house edge.

It's a marketing strategy.

Minnlo

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Activity: 868

Merit: 1000

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

A dice with 0% house edge would still make profit so i dont know why no one made it, it would atract a lot of players

I don't quite get it. By definition, "0% house edge" means the game has a expected value of zero to both the players and the house.
So how would a 0% house edge game bring profit to the house? Huh

Bardman

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Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

A dice with 0% house edge would still make profit so i dont know why no one made it, it would atract a lot of players

Minnlo

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Activity: 868

Merit: 1000

Quote from: GannickusX on March 14, 2015, 05:14:27 AM

I thought there were casinos with 0% house edge around here, correct me if im wrong

AFAIK there are at least 2 games with 0% house edge, the PvP on Primedice and the PvP raffle game on Peerbet. The downside is that there are not many players and it is hard for you to find a good match.

Minnlo

hero member

Activity: 868

Merit: 1000

Quote from: waterpile on March 14, 2015, 12:46:41 AM

Quote from: MichaelSicili on March 14, 2015, 12:05:33 AM

Quote from: alani123 on March 13, 2015, 10:43:24 PM

moneypot.com

primedice.com

satoshidice.com

luckyb.it

Just-dice.com

they're all provably fair, but their house edge varies from 0.5% to 1.9%. The house always wins anyway.

which one the most little house edge?
house edge take effect on our game?

Primedice have 0.9% house edge
And lucky.bit have about 1% house edge

If you need dice site with low house edge, then try SafeDice
They only have 0.5% House edge

Correct me if im wrong but I think luckyb.ithas no house edge coz its not a dice site, its a plinko..

Primedice has a house edge of 1%. When PD3 was released, it came with a jackpot feature making the house edge 0.91%. But the feature has been removed now.

LB has a house edge of roughly 1.66% - 1.76%, depending on which line you are playing.

GannickusX

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I thought there were casinos with 0% house edge around here, correct me if im wrong

boopy265420

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Quote from: fox19891989 on March 14, 2015, 01:48:38 AM

dadice(click my signature link to register Wink

)
Primedice
justdice
fortunejack

About Provably fair conception. I have my explanation, but this one is better than mine, so I just show you this passage.

http://dicesites.com/provably-fair

What is "provably fair"?
Players always fear to be cheated on an online casino. This is understandable because it is technically very easy for an online casino to just make you lose. In the Bitcoin gambling community we have a solution for this called "provably fair". Provably fair is a tool that enables you (the player) to verify each roll result and make sure you are not being cheated!

The easy way is to just use our provably fair verifiers, fill in the information the website is providing you and check the roll results.

Well explained the meaning of word '' provably fair ''. So players can play there without any worry or doubt as these are pf.

fox19891989

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Activity: 840

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dadice(click my signature link to register Wink

)
Primedice
justdice
fortunejack

About Provably fair conception. I have my explanation, but this one is better than mine, so I just show you this passage.

http://dicesites.com/provably-fair

What is "provably fair"?
Players always fear to be cheated on an online casino. This is understandable because it is technically very easy for an online casino to just make you lose. In the Bitcoin gambling community we have a solution for this called "provably fair". Provably fair is a tool that enables you (the player) to verify each roll result and make sure you are not being cheated!

The easy way is to just use our provably fair verifiers, fill in the information the website is providing you and check the roll results.

NLNico

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DiceSites.com owner

Quote from: bitbaby on March 13, 2015, 11:10:42 PM

Quote from: NLNico on March 13, 2015, 11:02:43 PM

It is only provably fair if you take the time to verify your games. You could read my detailed article at: http://dicesites.com/provably-fair for a better understanding of how provably fair works.

This was very informative and every dice player should at-least give this a thorough read once. I am gonna tweet about it, so my twitter followers can understand what 'Provably Fair' really means.

Edit: Done

Awesome, thanks. Glad you like it.

havecoch

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Looking at the number of gambling sites, all sites have been switching to a provably fair model of gambling.
So most of them are. The big examples are Primedice/Coinroyale/Cloudbet(asits live)

EvilPanda

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Small Red and Bad

Quote from: janggernaut on March 13, 2015, 10:38:02 PM

can anyone give me suggest about 5 gambling sites which really use "Provably fair"?
because many people said, "house always win".

You didn't understand that quote. It doesn't mean the game is rigged and they are cheating, but that you may have a winning streak but it will eventually be followed by a losing streak.
The house always wins in the end

yogg

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Quote from: waterpile on March 14, 2015, 12:46:41 AM

Correct me if im wrong but I think luckyb.ithas no house edge coz its not a dice site, its a plinko..

Every casino game has a house edge.
It doesn't matter which type of game it is.
Roulette wheel has a house edge. When you bet on red and win, you double your bet.
But when the 0 comes out, the house collects all the bets on red and black. Cheesy

That's the catch.

luckyb.it house edge is somewhere between 1% and 2% I believe.

waterpile

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