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Title: How much is the effect of house edge (0 or 1+) on your result Post by: Herbert2020 on October 04, 2016, 09:16:40 AM i saw this topic (https://bitcointalk.org/index.php?topic=1633110.0) about finding a gambling site with zero house edge and it got me thinking.
how much do you think 0 house edge is going to change your stats (win/lose) obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: altcoinhosting on October 04, 2016, 09:18:54 AM i saw this topic (https://bitcointalk.org/index.php?topic=1633110.0) about finding a gambling site with zero house edge and it got me thinking. how much do you think 0 house edge is going to change your stats (win/lose) obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? Personally, i think a casino game (any game) with a 0 percent house edge will either go bancrupt in the longrun, or will result in cheating... Offcourse, they can obtain a little bit of income by placing adds, or by sending sollicited emails to their users, but i can not believe they'll gain enough money to keep an online casino running when they offer a lasting 0 percent house edge. However, i think it would be a good move of some casinos to offer 0 percent house edge for a couple of days, in order to run a succesfull promo campaign... Lure gamblers in with a temporarry 0 percent house edge, get them hooked, then raise the house edge to normal levels (~1%) Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: buddu on October 04, 2016, 09:27:38 AM House edge is usually is related to casino gambling games. I don't think it will have much effect on my winning results because it is not going increase my winning chances at all. We can see sports betting where house isn't at all and still people are loosing money on matches. In casino gambling didn't try yet any site to say my experience. I would like to hear how this discussion move ahead.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: trafficolaa on October 04, 2016, 09:27:47 AM Technically it's not possible for any casino to promote any game with 0% house edge surely they will go for bankrupt in long run, I think if any casino has 0% house edge than it could be dangerous to play instead of short term promo, so that I also think there is no positive will come from that zero house edge.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: RocketSingh on October 04, 2016, 10:27:12 AM Technically it's not possible for any casino to promote any game with 0% house edge surely they will go for bankrupt in long run, I think if any casino has 0% house edge than it could be dangerous to play instead of short term promo, so that I also think there is no positive will come from that zero house edge. At 0% House Edge, both house & player have equal winning chance in the long run. Hence, new sites may use this strategy to attract new gamblers instead of spending a LOT on marketing. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Red-Apple on October 04, 2016, 11:49:57 AM Personally, i think a casino game (any game) with a 0 percent house edge will either go bancrupt in the longrun, or will result in cheating... i don't think so. because people usually don't use good strategies and they are wasting their money in most of these gambling sites. for example i have seen new dice sites that start off with a 0% house edge and there aren't that many winners on the site to win and bankrupt the casino. house edge is like a guarantee in my opinion. and also add to this, the fact that a lot of the gamblers will continue gambling when they win and if a losing streak hits them they lose all they have won so far. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: amacar2 on October 04, 2016, 04:48:46 PM I will vote alot in a sense that some casino may offer this 0% house edge as promotional opening offer and may turned out as scam after they get few large deposits or they may go bankrupt after sometime, there is no point for any casino to have 0% house edge.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: newcripto on October 04, 2016, 05:43:54 PM I will just do agree with that if house edge isn't any more than should increase my chances in comparison to in presence and without it. It means me and casino have really equal chances like in sports betting. House edge's existence means whether I win or loose house in every situation makes money like winner. I do think there will much impact over results.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: DarkStar_ on October 04, 2016, 07:35:47 PM how much do you think 0 house edge is going to change your stats (win/lose) If the house edge was 0, I'd expect my result to be a little loss, a little profit or nothing, since the expected value is that your money stays the same. How much will it change my stats? If I'm betting with 2x and down to a 0% edge from 1%, I'd win 5 times more every thousand bets on average.obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? With my normal betting method (x1.01 - x1.04 multipliers), it would change my stats quite a lot since betting with those multipliers can be very -EV (basically paying 1% of my bet to try to win 1% more with a 1.01x bet) Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: RocketSingh on October 04, 2016, 07:38:54 PM Personally, i think a casino game (any game) with a 0 percent house edge will either go bancrupt in the longrun, or will result in cheating... i don't think so. because people usually don't use good strategies and they are wasting their money in most of these gambling sites. for example i have seen new dice sites that start off with a 0% house edge and there aren't that many winners on the site to win and bankrupt the casino. house edge is like a guarantee in my opinion. and also add to this, the fact that a lot of the gamblers will continue gambling when they win and if a losing streak hits them they lose all they have won so far. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: BrewMaster on October 05, 2016, 04:25:22 AM my vote goes to the last option because i have never saw a 0% house edge on any of the sites that i have played at.
i would love to find some and give it a try to have a better sense of how things are going to change if i have equal chance though. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Naoko on October 05, 2016, 04:28:04 AM i saw this topic (https://bitcointalk.org/index.php?topic=1633110.0) about finding a gambling site with zero house edge and it got me thinking. how much do you think 0 house edge is going to change your stats (win/lose) obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? i would still think the house will be in profit. why? because so many gamblers can't control their greed, even if they are winning they will still continue to bet trying to win more until they lose all their money. honestly i don't think the house will lose unless they give +EV to players Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: NorrisK on October 05, 2016, 06:51:42 AM If the house would offer 0 house edge, the net result would be break even in the long run, but only if you play perfect strategy .
In dice it wouldn't matter, you would break even if you kept the bet sizes etc consistent. In black jack you can still be a losing player if you don't follow perfect strategy (e.g. not hitting on 16 when house has a K as face card). Roulette would basically not have the 0 and you can break even if you play for a consistent number, even, top third, etc. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: dunfida on October 05, 2016, 07:01:02 AM It would not affect your winning chance though even if the house would have 0% house edge the result would be still the same the difference is just that the house didnt get a profit on everytime you play since it has no house edge and i cant see any gambling sites do have these kind of house edge. lol
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: ralle14 on October 05, 2016, 07:06:33 AM For me I really think house edge doesn't matter in my situation because I mostly bet on sports and esports but in an online sportsbook which has an house edge doesn't really impact the chances of winning / lossing it only makes us bet a little more like betting $110 to win $100 instead of betting $100 to win $100 if theres no house edge.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: sulendra12 on October 05, 2016, 07:24:23 AM how much do you think 0 house edge is going to change your stats (win/lose)? House Edge doesn't effect with your winning chances anymore and if the site offers 0% house edge these sites would be bankrupt in the long-run because from House Edge the profit comes from and automatically adds the bankroll for every bet we made and it makes the site can withdrawing any amount you want as long as you have the funds :)And nowadays no one site offers 0% house edge because it's become worthless for building the gambling site and want to get the profit. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Herbert2020 on October 05, 2016, 07:41:41 AM thanks for all the inputs so far guys.
to those who say the effect is a lot (votes) and maybe think the casino is going to be bankrupt : lets take a dice game with 1% house edge like bitsler for example. with 2x multiplier the chances are 49.5% and now this is the interesting part: if the house edge were 0 my chance with a 2x multiplier would have been 50% so the chance of winning has improved by only 0.5% now do you still think it is a lot? also is there any dice site that is offering 0 house edge to test some stuff? Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: altcoinhosting on October 05, 2016, 07:44:46 AM thanks for all the inputs so far guys. to those who say the effect is a lot (votes) and maybe think the casino is going to be bankrupt : lets take a dice game with 1% house edge like bitsler for example. with 2x multiplier the chances are 49.5% and now this is the interesting part: if the house edge were 0 my chance with a 2x multiplier would have been 50% so the chance of winning has improved by only 0.5% now do you still think it is a lot? also is there any dice site that is offering 0 house edge to test some stuff? It't not that hard to setup your own dice site: https://github.com/felinegambler/CryptoDice This way, you can simulate any strategy, do statistics,... WARNING: only use this script with testnet coins, or with completely worthless (1sat) altcoins... It has many loopholes (it's rumored it even has a backdoor where the dev can steal your coins) and is 100% unsecure to run in a production environment!!! Have fun :) Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: xuan87 on October 05, 2016, 02:38:01 PM well if you are a big gambler and intend to get rich from gambling then house edge is very important things to consider, because it can affect your profit, but if you are just small gambler and play for fun i dont think you should bother about the house edge, and for casino house edge is an important source to make profit
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: jtipt on October 05, 2016, 02:58:21 PM If you are a casual gambler like me then house edge doesn't really matter i mean if there is 0% edge means you will have perfect 50% change of win at x2 (in a dice) while with house edge its like 49.5 It densest really make alot of difference. But if you gamble alot and in big amounts then it can affect tiny percentage of your winning.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: neochiny on October 05, 2016, 11:40:55 PM i saw this topic (https://bitcointalk.org/index.php?topic=1633110.0) about finding a gambling site with zero house edge and it got me thinking. how much do you think 0 house edge is going to change your stats (win/lose) obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? I saw that topic as well. No. I don't think 0% is gonna make much of a difference over .05, .08, 1%. Over the long term, it may tip the win/lose stats but, it would still depend on how we play. There would be other things to consider as well since it's either offered by a reputable/known site as a promotion/event or a very new site claiming to have 0% HE. Now if it was a promotion, then ok. On the other hand, if it was a very new site/unknown claiming to have 0% HE, first thing to come to my mind is "shady". Makes me wonder, where they'd take their revenue from if not from HE. Are they just gonna bank on players always losing? (I think they'll either 'fix' things to make sure of win/loss ratio or just find some other ways to take my coin.) I'm not gonna gamble on that. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Superhitech on October 06, 2016, 04:44:52 AM i saw this topic (https://bitcointalk.org/index.php?topic=1633110.0) about finding a gambling site with zero house edge and it got me thinking. how much do you think 0 house edge is going to change your stats (win/lose) obviously, you have a better chance of winning when there is 0 house edge but what do you think your result would be in long term if the house edge was 0 instead of 1% for example? I saw that topic as well. No. I don't think 0% isn't gonna make much of a difference over .05, .08, 1%. Over the long term, it may tip the win/lose stats but, it would still depend on how we play. There would be other things to consider as well since it's either offered by a reputable/known site as a promotion/event or a very new site claiming to have 0% HE. Now if it was a promotion, then ok. On the other hand, if it was a very new site/unknown claiming to have 0% HE, first thing to come to my mind is "shady". Makes me wonder, where they'd take their revenue from if not from HE. Are they just gonna bank on players always losing? (I think they'll either 'fix' things to make sure of win/loss ratio or just find some other ways to take my coin.) I'm not gonna gamble on that. 0% house edge is simply not feasible if it's not a PvP game. In PvP games, they can have 0% house edge as the house takes a cut of the player's winnings or deposits. People are saying that 0% won't make much of a difference, but in reality, it does. No house edge means you have exactly 50/50 chance of winning if you bet at 50/50, which makes it possible for the gambler to profit in the long run. That's why there is a green slot on roulette, it's so you can't have truly 50/50 odds. You can read more about it here (http://knowyourodds.net.au/house-edge/). Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: pooya87 on October 06, 2016, 05:43:43 AM i think in games that we are playing like dice games, the house edge is not so effective in the final result. i have tested this theory a while back on a dice site that was new and was offering a 0% house edge as promotion and i got the same losing streak that i get when playing 2x and martingale.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: dunfida on October 06, 2016, 07:35:00 AM i think in games that we are playing like dice games, the house edge is not so effective in the final result. i have tested this theory a while back on a dice site that was new and was offering a 0% house edge as promotion and i got the same losing streak that i get when playing 2x and martingale. having 0% house edge would not affect or increase your winning chance when you are playing gambling because the results would be still the same. 0% house edge means that is the percentage taken by the house in each bet thats why they are profitable in each bet youve made. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: 88highroller on October 06, 2016, 08:07:05 AM If casinos offer 0 house edge or minus house edge, players will bust the casino in the long term, it effects a lot.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: RoommateAgreement on October 07, 2016, 05:13:20 AM i think in games that we are playing like dice games, the house edge is not so effective in the final result. i have tested this theory a while back on a dice site that was new and was offering a 0% house edge as promotion and i got the same losing streak that i get when playing 2x and martingale. having 0% house edge would not affect or increase your winning chance when you are playing gambling because the results would be still the same. 0% house edge means that is the percentage taken by the house in each bet thats why they are profitable in each bet youve made. i bet you didn't understand what you said yourself :D the chances to win obviously change with 0% house edge. it is about 0.5%change in the chance to win and although it is small but it is still a change that can affect the resul. and this is why i voted for a little. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Herbert2020 on October 10, 2016, 06:01:11 AM The results of this POLL has been very interesting so far with everything in a balance!
but it is still not enough to make a decent conclusion about what everybody things since the total number of votes are too low. so please Vote if you haven't already so we can reach a better conclusion. Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: victoryboy on October 10, 2016, 10:17:17 AM I don't think it can have any impact over my results. House edge is charged for covering the running costs and other stuff which covers many thing related to any casino. It is not going to increase your chances since people money is divided among them. House is going to be effected in this case. Sports betting is biggest example where with zero house edge still we loose bets.
Title: Re: How much is the effect of house edge (0 or 1+) on your result Post by: Sandroxa on October 11, 2016, 02:52:43 PM House edge believe it or not effect the game allot because the casino still has the advantage so from the beginning you are in a position to lose.
It is a fact that most people lose more times so it is not weird that it has an effect on the outcome. |