Topic: whats meaning of house edge (Read 600 times)
nice place !!!!
This was not build by the money gamblers won.
There are billion money there
billions owned by the casinos, not the players
This was not build by the money gamblers won.
There are billion money there
This was not build by the money gamblers won.
this faq of just dice i dont quite understand about the house edge part...
why receive 2 times your stake if there was no house edge???
What does 1% house edge mean?
Some people have been confused by this. They ask when we take the 1% off, is it after each win, or when they try to withdraw. It is neither of these. The house edge is built in to the payouts. When you play the 50% game and win, you receive 1.98 times your stake as your payout. If there was no house edge, you would receive 2 times your stake. 1.98 is 1% less than 2. That is the house edge.
http://en.wikipedia.org/wiki/Expected_value
Yes, it means that on average, the website (=house) win 1 % of all bets. But there is variance 
I think it means that the house has a 51% chance of wining and you have 49%
Therefor if you bet 100 times the house will win 51 times and you 49
Therefor if you bet 100 times the house will win 51 times and you 49
Exactly what OP is saying. You lose 1% more than normal.
I think it means that the house has a 51% chance of wining and you have 49%
Therefor if you bet 100 times the house will win 51 times and you 49
Therefor if you bet 100 times the house will win 51 times and you 49
this faq of just dice i dont quite understand about the house edge part...
why receive 2 times your stake if there was no house edge???
What does 1% house edge mean?
Some people have been confused by this. They ask when we take the 1% off, is it after each win, or when they try to withdraw. It is neither of these. The house edge is built in to the payouts. When you play the 50% game and win, you receive 1.98 times your stake as your payout. If there was no house edge, you would receive 2 times your stake. 1.98 is 1% less than 2. That is the house edge.
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