The House always wins. - page 8. | Bitcointalksearch.org

lorylore

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Quote from: maku on October 16, 2016, 10:19:14 PM

Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

No, not really equal chance of win would be exactly 50/50 win chance. Games with zero House Edge are usually lottery type of games.
Have you seen Dice with zero House Edge? That's right, it is not possible to maintain Dice with no HE. Lottery is different though.

I beg to diff. Even lottery also have no zero house edge. In fact, lottery has one of the higher house edge because people will still keep buying it due to the huge payout. If you calculate, the expected value is still negative and it take around 7 life time of gambling just to have an expected win.

maku

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Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

No, not really equal chance of win would be exactly 50/50 win chance. Games with zero House Edge are usually lottery type of games.
Have you seen Dice with zero House Edge? That's right, it is not possible to maintain Dice with no HE. Lottery is different though.

hua_hui

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Not 100% of the time they will win. However due to the house edge, the longer you play, the more likely you will end up losing. So that is why the house edge of dice is only a mere 1% but we end up losing 90% of the time. Some say it is how you manage the bankroll cause when you are profiting, you will carry on playing and soon you will realise that the house edge will come in and you end up losing again.

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Quote from: fantoos on October 16, 2016, 08:58:58 AM

Yes , It is like this as title said in this game of making money or having fun house the only which always wins. It is designed to be in better position to deal with external elements which are players. There are more and more casinos appearing which shows how profitable business is this being as house.

one thing that people must know about how the house edge work ,
the casino with its house edge always make the losses bounce back to profit ,
it is always work like that , so basically whenever someone won $100 means casino lost $100 ,
then there must someone to lost $200 to pay the previous $100 and keep the remaining of $100 for the casino , that is my thought.

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In gambling sites like dice sites where every result is promised to be completely "random" I would agree that the house always win. Having an equal chance of losing and winning (50%) doesn't give you a statistics that is equal to each other but it doesn't also give you a statistic wherein winning is greater than losing. I don't think every set of random results should just result in either those two.

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Quote from: iv4n on October 16, 2016, 06:05:26 PM

House have advantage, that's all. House doesn't always win, I know that. Depending on the game I have very good experience with casinos. I win some poker tournament here and there, or qualify for paid place. I play slots, and on slots I won much more then I lost, and I started to play with big bets now.
Gambling is not for everyone, and I'm sure that many people lost much more then they won that is bad luck and playing without plan and strategy. Before start try to !earn how to play without money and then sit with real cash.

House does not always win otherwise no gambler would last and enjoy gambling, the fact that they have the house edge against us they will win in the long run and will be profitable. If the gamblers will gamble regularly then I would say that he is subject to losing a big amount of money as house always wins.

iv4n

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House have advantage, that's all. House doesn't always win, I know that. Depending on the game I have very good experience with casinos. I win some poker tournament here and there, or qualify for paid place. I play slots, and on slots I won much more then I lost, and I started to play with big bets now.
Gambling is not for everyone, and I'm sure that many people lost much more then they won that is bad luck and playing without plan and strategy. Before start try to !earn how to play without money and then sit with real cash.

hua_hui

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Quote from: fantoos on October 16, 2016, 08:58:58 AM

Yes , It is like this as title said in this game of making money or having fun house the only which always wins. It is designed to be in better position to deal with external elements which are players. There are more and more casinos appearing which shows how profitable business is this being as house.

Indeed, just look at macau which now overtake Las Vega as the casino land. It is so profitable and taxable that government allow casino to be built even though the amount of social problems it has bring is huge. This can show how profitable casino can be and the power of house edge.

fantoos

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Yes , It is like this as title said in this game of making money or having fun house the only which always wins. It is designed to be in better position to deal with external elements which are players. There are more and more casinos appearing which shows how profitable business is this being as house.

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Quote from: fullypak on October 14, 2016, 10:20:53 AM

Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

But gambling houses are not doing any charity work to distribute their money to gamblers. So even though 0% house edge then know that if anyone gamble for longer period they can win at the end so to attract gamblers they will come up with these 0% house edge tricks. Gambling is not for making money so gamble carefully.

Exactly dude even games/site offer 0% house edge its not a guarantee that you will win. If its a guarantee do you think they will still offer a 0% house edge. Of course not. Even they have a equal chance on winning at the end the site will still win and you will still lose. Thats how gambling works house always win(unless you got lucky which is rare to happen).

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Quote from: fullypak on October 15, 2016, 09:15:09 PM

Quote from: zodin on October 15, 2016, 03:47:42 PM

may be not ever where but in some houses where there is always using unfair means by the the house, and where people are cheating bu the house.

Those types are casinos don't have a knowledge of casino business because if they do honestly, then they can attract more and more people and at the end they will be making a lot of money. But those guys just want to scam people for a small amount and runway with a small amount.

Expert gamblers / Veteran players would definitely know a reputable gambling site which they would seek always for a hash on which the site uses with this thing you could somehow assure your self that results are not manipulated by the house thats why not showingthis hash seems a shady site.

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Quote from: zodin on October 15, 2016, 03:47:42 PM

may be not ever where but in some houses where there is always using unfair means by the the house, and where people are cheating bu the house.

Those types are casinos don't have a knowledge of casino business because if they do honestly, then they can attract more and more people and at the end they will be making a lot of money. But those guys just want to scam people for a small amount and runway with a small amount.

lionheart78

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Quote from: freedomgo on October 15, 2016, 09:22:34 AM

Quote from: buddu on October 15, 2016, 07:01:12 AM

I have my understanding in this regard why house always wins. House has nothing to loose as there is nothing at stake but these are players who compete against each other and house just distribute their money among them and charge them for this service. Some people just quit sessions at loosing and some with some profit hous also remains with untouched money as well.

The fact that the house has the advantage, it would already mean that we are losing in the long run hence making the house always wins. With that reality, we should know already how to manage our money, if we are going to continue to gambling in a gambling game which has a house end or we will invest to make easy money.

I agree that the house always win. The one question in my mind, why do people gamble when they knew that they are already in an unfair situation. I have observed that even with 0 house edge, the house keep on winning. Worst is that they win in the consecutive streak. I saw someone losing 20+ consecutive streak. If it is provable fair then at least he should have win 1 out of 5 rolls.

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may be not ever where but in some houses where there is always using unfair means by the the house, and where people are cheating bu the house.

EdenHazard

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Quote from: fullypak on October 14, 2016, 10:20:53 AM

Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

But gambling houses are not doing any charity work to distribute their money to gamblers. So even though 0% house edge then know that if anyone gamble for longer period they can win at the end so to attract gamblers they will come up with these 0% house edge tricks. Gambling is not for making money so gamble carefully.

yes the law of to gamble in long run will make you get lost soon or later make the house always in win win situation , they know what will happened to every players and that's why they build a casino to make money.

people are really gamble on uncertain thing but the house they did not. they have guaranteed to have a profit as long as they have a large bankroll.

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Quote from: freedomgo on October 15, 2016, 09:22:34 AM

Quote from: buddu on October 15, 2016, 07:01:12 AM

I have my understanding in this regard why house always wins. House has nothing to loose as there is nothing at stake but these are players who compete against each other and house just distribute their money among them and charge them for this service. Some people just quit sessions at loosing and some with some profit hous also remains with untouched money as well.

The fact that the house has the advantage, it would already mean that we are losing in the long run hence making the house always wins. With that reality, we should know already how to manage our money, if we are going to continue to gambling in a gambling game which has a house end or we will invest to make easy money.

House does really have the advantage as always hence gambling sites are designed on this way which they make their players lose in the long run and the ratio of losser compare to winners are too far away hence there are lots of losser compared to winners which is really a normal thing to a gambling site.

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Quote from: buddu on October 15, 2016, 07:01:12 AM

I have my understanding in this regard why house always wins. House has nothing to loose as there is nothing at stake but these are players who compete against each other and house just distribute their money among them and charge them for this service. Some people just quit sessions at loosing and some with some profit hous also remains with untouched money as well.

The fact that the house has the advantage, it would already mean that we are losing in the long run hence making the house always wins. With that reality, we should know already how to manage our money, if we are going to continue to gambling in a gambling game which has a house end or we will invest to make easy money.

buddu

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I have my understanding in this regard why house always wins. House has nothing to loose as there is nothing at stake but these are players who compete against each other and house just distribute their money among them and charge them for this service. Some people just quit sessions at loosing and some with some profit hous also remains with untouched money as well.

hatshepsut93

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Quote from: lorylore on October 14, 2016, 12:24:22 PM

Quote from: fullypak on October 14, 2016, 10:20:53 AM

Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

But gambling houses are not doing any charity work to distribute their money to gamblers. So even though 0% house edge then know that if anyone gamble for longer period they can win at the end so to attract gamblers they will come up with these 0% house edge tricks. Gambling is not for making money so gamble carefully.

That is what i have been saying so far. Casino is not a charity. It is meant to take money away from you. So they will do things to ensure that you will be losing in the long run but at the same time let you believe you got chance to win to hook you up for long.

Usually they don't do any "things" and are provably fair. House edge is purely mathematical, lets for example look at Dice.

You can roll anything from 0 to 100 and bet that you hit some range - the smaller the range - the bigger the reward. But casino has a slight edge, so your reward will be slightly smaller than the risk.

In this Dice example with 2x payout chances to win would be 50% with 0% house edge, 49.5% with 1% house edge, 49% with 2% house edge, etc.

lorylore

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Quote from: fullypak on October 14, 2016, 10:20:53 AM

Quote from: newIndia on October 14, 2016, 09:26:24 AM

Well house is supposed to win when there is a house edge. But, now there are games with 0% house edge, where players get equal chance to win.

But gambling houses are not doing any charity work to distribute their money to gamblers. So even though 0% house edge then know that if anyone gamble for longer period they can win at the end so to attract gamblers they will come up with these 0% house edge tricks. Gambling is not for making money so gamble carefully.

That is what i have been saying so far. Casino is not a charity. It is meant to take money away from you. So they will do things to ensure that you will be losing in the long run but at the same time let you believe you got chance to win to hook you up for long.

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