What do you think about Casino with 0% Edge? - page 4.

PokerFace3

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Quote from: tyz on August 13, 2017, 11:52:53 AM

First I would ask myself how the casino earn money at all. It incur constantly costs through hosting, server, electricity, maintenance, further development etc. If the operator does not have a responsive answer why it does not charge any edge, then I would be very skeptical. There are quite business models that you can connect with 0% Edge, but whether these are really profitable in the long term, I doubt. I would stay away.

A gambling house might be having more other options to earn like offering VIP membership/withdraw fees/showing advertisements etc. But none of them will get more income how house edge is doing. But I am sure a gambling house will be able to survive with other incomes expect house edge.

I guess as long as a gambling house will be keeping their words and their house edge is even zero, I guess we can continue with them.

izanagi narukami

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Personally I will stay from the site since 0% (HE) is the disdavantage for gambling site

Quote from: tyz on August 13, 2017, 11:52:53 AM

...There are quite business models that you can connect with 0% Edge, but whether these are really profitable in the long term, I doubt. I would stay away.

I'm sure that gambling site has no chance to survive for long term especially when the whale trader start to gamble there

tyz

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First I would ask myself how the casino earn money at all. It incur constantly costs through hosting, server, electricity, maintenance, further development etc. If the operator does not have a responsive answer why it does not charge any edge, then I would be very skeptical. There are quite business models that you can connect with 0% Edge, but whether these are really profitable in the long term, I doubt. I would stay away.

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Quote from: JL421 on July 22, 2017, 11:48:43 AM

Having 0% edge is a good idea but the site can't survive on 0% edge and depending only on ads can be a nightmare for the site and many sites in order to not get a loss may just take all investors funds and users funds and close down , atleast have a 1% house edge for long term stability and sufficient profit

If they mention 1% edge, then we will not think more and very quickly we will start to use that site if we find that site is looking good. But if any site comes with telling 0% edge we will think of many ways. And this is the truth after depositing our money if they shut down means to whom you will ask, before using any 0% edge sites be careful and see the real users review and play.

eli113

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Quote from: eli113 on June 18, 2017, 04:51:23 AM

First read this : https://en.wikipedia.org/wiki/Gambler%27s_ruin

OR if you feel lazy just read this :

Gambler's Ruin
The original meaning is that a persistent gambler who raises his bet to a fixed fraction of bankroll when he wins, but does not reduce it when he loses, will eventually and inevitably go broke, even if he has a positive expected value on each bet.
Another common meaning is that a persistent gambler with finite wealth, playing a fair game (that is, each bet has expected value zero to both sides) will eventually and inevitably go broke against an opponent with infinite wealth. Such a situation can be modeled by a random walk on the real number line. In that context it is provable that the agent will return to his point of origin or go broke and is ruined an infinite number of times if the random walk continues forever.

So theoretically a casino with 0% Edge and big enough Bankroll can still make profit.
The whole concept acts like a hidden House Edge ,i can speculate it is around 0.6-1.0% on dice games.

But such casino for casual players can give them more fun time for their money , not bad heh?

Quoting myself after 2 months , in case you wonder why most gamblers losing more than just the house edge.

Mike Mayor

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A casino would not make money with a 0% house edge. That is to say that it could swing either way. A massive lose for the house or win could happen at anytime. Over a long owroid no money would be made. Well that's what's suppose to happen. Some casinos allow you to reduce the house edge like on happy hour or something.

JL421

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Having 0% edge is a good idea but the site can't survive on 0% edge and depending only on ads can be a nightmare for the site and many sites in order to not get a loss may just take all investors funds and users funds and close down , atleast have a 1% house edge for long term stability and sufficient profit

JasonXG

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A casino with 0% house edge would not make a profit and break even over the longterm. The house needs to profit a certain amount in order to stay open.

Quote from: jamyr on July 20, 2017, 10:38:25 AM

Quote from: Bitcoingiver on July 20, 2017, 08:48:12 AM

Yes I understand you idea but they need to pay for the hosting account and the bandwith usage , And many other expenses. But they should try and make things more profitable for every body. Thanks

It may sound/look more profitable although it will not affect much of the players' winnings. The honesty and transparency of a casino is what will make it much popular.

You would be able to play forever and never worry about losing or winning.

jamyr

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Quote from: Bitcoingiver on July 20, 2017, 08:48:12 AM

Yes I understand you idea but they need to pay for the hosting account and the bandwith usage , And many other expenses. But they should try and make things more profitable for every body. Thanks

It may sound/look more profitable although it will not affect much of the players' winnings. The honesty and transparency of a casino is what will make it much popular.

Bitcoingiver

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Yes I understand you idea but they need to pay for the hosting account and the bandwith usage , And many other expenses. But they should try and make things more profitable for every body. Thanks

jamyr

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Sounds good for me, although it may not become very popular even if it has that 0% edge.

Dice games have been based on luck so I don't think 1% edge difference would matter a lot. Just my opinion.

wahb

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Quote from: el kaka22 on June 30, 2017, 03:05:38 PM

Quote from: michkima on June 30, 2017, 05:17:09 AM

Just to clear this up. 0% house edge does not mean the casino will not survive and will not profit. The only thing here is that the playing field is leveled both for the players and the casino. But that doesn't mean the gamblers will win more than the casino. If you think about it, the players still don't have unlimited bankroll and there is still bet limits. So a martin gale system will still fail in the long run. Even at 0% house edge, gamblers can still experience a 20 times losing streak and when that happens that's when 0% house edge casinos profit.

Along with zero house edge the distribution of possibilities will become more fairer than the system we are usually having with any gambling site give that there is no rigged algorithms are being used for generating random hash seeds. I believe 20 losing streams are happening even in the real life dicing, I checked it recently and wondered house edge is literally playing less significant roll in making gamblers to lose.

for a normal casino which is mostly depending on the income of the casino it will become difficult to maintain their position because they will support the casino from their pocket and they may do that for a month or two but for a long run it is not possible to run a casino without any edge. they may be scamming people through other ways and may be getting the edge.

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Quote from: michkima on June 30, 2017, 05:17:09 AM

Just to clear this up. 0% house edge does not mean the casino will not survive and will not profit. The only thing here is that the playing field is leveled both for the players and the casino. But that doesn't mean the gamblers will win more than the casino. If you think about it, the players still don't have unlimited bankroll and there is still bet limits. So a martin gale system will still fail in the long run. Even at 0% house edge, gamblers can still experience a 20 times losing streak and when that happens that's when 0% house edge casinos profit.

Along with zero house edge the distribution of possibilities will become more fairer than the system we are usually having with any gambling site give that there is no rigged algorithms are being used for generating random hash seeds. I believe 20 losing streams are happening even in the real life dicing, I checked it recently and wondered house edge is literally playing less significant roll in making gamblers to lose.

michkima

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Quote from: bhadz on June 24, 2017, 05:16:44 AM

Quote from: wahb on June 22, 2017, 02:35:56 PM

Quote from: bhadz on June 22, 2017, 05:15:09 AM

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

It's for real, think about on how they can keep on operating if they are going to offer free service or 0% house edge. That's in the favor of the gamblers but their players aren't going to agree with this type of casino operation. Because a gambler will secure that a casino can support and has a proof of earning for their gamblers.

Just to clear this up. 0% house edge does not mean the casino will not survive and will not profit. The only thing here is that the playing field is leveled both for the players and the casino. But that doesn't mean the gamblers will win more than the casino. If you think about it, the players still don't have unlimited bankroll and there is still bet limits. So a martin gale system will still fail in the long run. Even at 0% house edge, gamblers can still experience a 20 times losing streak and when that happens that's when 0% house edge casinos profit.

bhadz

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Quote from: wahb on June 22, 2017, 02:35:56 PM

Quote from: bhadz on June 22, 2017, 05:15:09 AM

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

It's for real, think about on how they can keep on operating if they are going to offer free service or 0% house edge. That's in the favor of the gamblers but their players aren't going to agree with this type of casino operation. Because a gambler will secure that a casino can support and has a proof of earning for their gamblers.

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Quote from: Catmony on June 22, 2017, 12:41:44 PM

I don't think any casino can make good amount of money with 0% house edge, it will make them unstable because if someone got lucky enough to win max win they have multiple times they will get bankrupt. House edge insures that there will be some money taken from every bet to cover all the operating cost.

There's no way for them to make money for their operation if they don't have edge or if they will boast their casino through 0% edge casino. There's no way to sustain their casino and even they will get a lot of players that is still not enough for the whole operation cost.

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Quote from: tigershark on June 23, 2017, 11:53:56 AM

Quote from: ethlover on June 16, 2017, 05:22:40 AM

I just found out about this project of Casino that will be opened and it has 0% Edge and I just thought, seriously, why we pay an edge in online Casinos?

I mean in Traditional Casino they need this Edge money for all the environment and all the feeling, a lot of employees and all the little things they give to us but in Online Casino, we don't get this, so why we need to pay? For them to be rich? Just this idea really annoys me.

I really hope this project will work out!

For a game like dice, if the house doesn't have an edge, then they can't make money. In that situation, the gamblers and the house have the same odds and over time the winnings will be equal so no gain for either. Maybe they could charge a fee to join the site or to fund your account but they are going to want a way to make some profit.

maybe not just for dice game, but in almost all games they can not make money, because they need to thinking about how to pay their maintenance fee, especially if they have employee to manage the site. maybe in out there, there is a casino that really have 0% edge but i don't know how long they can still online and giving a good service for the members. i wonder how they can take their profit if they do this and from where they can paid the prizes if their members has win.

tigershark

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Quote from: ethlover on June 16, 2017, 05:22:40 AM

I just found out about this project of Casino that will be opened and it has 0% Edge and I just thought, seriously, why we pay an edge in online Casinos?

I mean in Traditional Casino they need this Edge money for all the environment and all the feeling, a lot of employees and all the little things they give to us but in Online Casino, we don't get this, so why we need to pay? For them to be rich? Just this idea really annoys me.

I really hope this project will work out!

For a game like dice, if the house doesn't have an edge, then they can't make money. In that situation, the gamblers and the house have the same odds and over time the winnings will be equal so no gain for either. Maybe they could charge a fee to join the site or to fund your account but they are going to want a way to make some profit.

just_Alice

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Quote from: FrueGreads on June 23, 2017, 06:30:42 AM

Quote from: just_Alice on June 22, 2017, 05:03:50 AM

Although it looks like it is pointless to create such casino, with 0% Edge, I think apart from what I mentioned before, earning money from ads on the site, there is another possibility for such site to be created. Imagine you are a poker player and you have many friends who are like you. You are fed up with giving your money to poker sites and you create a site of your own, for you and for your friends to play.

You could be tired of giving money to poker sites, although the rake is not that big, and you do have a lot of tournaments with added money, and freerolls etc, so I don't think you really need to feel that way. Anyway, if you are tired of doing that, you could just end up playing live with friends, I don't think you can create a poker site on your own just like that because you need a lot of money for promotions, you need to be legal etc. It's quite hard to create a good gambling site in my opinion.

But you don't need to promote the site if it's for your friends only and I think same goes for legality. Yes, it's quite hard to create a good gambling site but you can create a simple one and this will cost you much less. Playing live with your friends is possible only if you live in the same town, otherwise you need a site to play on.

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Quote from: Pab on June 16, 2017, 12:36:28 PM

Edgeless will be 0%edge,house,currenty blackjack is in beta,you can try without spending real money.There is also work on dice,it will be decentralised casino builded on eth chain,than video poker will be under development

I doubt a casino like this would be ever successful for the owners. Sure, the players will definitely enjoy the 0 edge policy but don't you think this is a foolish idea that can instantly drain the bankroll of a casino site?

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