Out of curiosity, why do so many sites/apps on moneypot seem to be competing to be the lowest house edge? I wouldn't think that small differences in the house edge would make that much of a difference for most players, especially since most players are not going to have a large enough bankroll or play enough rolls to have the EV of their strategy measured.
Price competition is always the easiest thing for new businesses to do to attract customers. Of course they could also attract players through building a great community, organizing fun events and contests, adding unique features, optimizing site performance etc, but all these take a lot of time and effort.
Well the point is that the most gamblers do not gamble in a way that small changes in the house edge will affect them. Granted the price is lower on paper, however I don't think most gamblers will win very many bets with a .1% house edge they would have lost on a 1% house edge, and it would probably affect the overall outcome of most players runs.
I think that the important thing here to remember is that house edge needs to be taken in relation to other house edges. To help break it down a bit, let's say we're going between 1% and 0.1%, with a wager of $10.00.
*At 1%, the house will take an average of $0.10
*At 0.1%, the house will take an average of $0.01
What we're seeing here is a 10x difference between the two, despite how small it looks.
Let's assume someone goes with 1 BTC now.
*At 1%, the house will take an average of 0.01 BTC
*At 0.1%, the house will take an average of 0.001 BTC
Note that all of this is based on the play-through of just 1 BTC. Generally speaking, people will play through hundreds of times what they brought in. It's entirely possible to play through 100 BTC with just a 0.1 BTC bankroll, for example. So let's use that now:
*At 1%, the house will take 1 BTC (essentially almost guaranteeing a full loss)
*At 0.1%, the house will take 0.1 BTC (very close to a guarantee of a full loss)
The more you're playing through, and the more you're betting, the bigger the difference between 0.1% and 1% really is. It's a factor of 10.
