Bitcoin Forum

Hey there! I got a quick question, I'm working on my own site at the moment, and when a player takes winning, there will be a small fee for the house (like a lot of casinos do), and what do you consider a reasonable taking? 0.1%? 0.5? Of course everyone prefers the lowest, but what do you reasonable/acceptables? Thanks!

Hmm.

Well I'd love to see lower house edges, PrimeDice & CR are pushing this which is great, it's only going to be a matter of time before people start beating them as well. So yeh, I'd like to see a 0.1% house edge :P But reasonable? That's a different question. I'm quite content with 1% house edge tbh, and if your the house & your playing against the player, if you had much less you'd be very susceptible to getting cleaned and such.

So yeh, voted 1%

I voted for 0.5% because online gambling operations, especially ones done "on the chain", incur little cost for the operator. The only operational cost for a satoshidice clone is a cheap VPS running a bitcoin node. You can probably even run it on your home computer.

Massive variance at 0.5%.. twice as much as 1%... which is twice as much as SD's (And we've all seen SD's statistical analysis, there's been months & days where they've lost thousandssss)

I'd like to see someone with the balls & bank roll to do it though :D

Thanks for the input! I'll definately try to keep it low like 0.5%-1%, I like low house edges, and as this basically is an never loss for the casino (no, it's not a chain game, or a pyramid scheme, players don't lose money to me.), I don't like high house edges either, but it'll all depend on the amount of players and attention it gets, aslong as I've gotten enough BTC so I can pay the webhosting and other possible costs, I have no real intention to make big profit, and don't expect to.

It depends on the nature of the game in question.  Is it something where you can do many iterations per minute, like a slot machine?  Is the payout something like even money or a large jackpot?

I would say that it is not possible to answer the question without you describing the game in some more detail.

1% seems fine to me. Still less than... any "casino" using FIAT money

It's not like a slot machine, rounds will depends, maybe I'll do it every block, few blocks, or hour-ish. The winning money would be a pool.

what about poker rooms?

As close to 0% (or lower than 0) as possible.

I do notice that the bigger games with bigger prizes take out a bigger chunk of the winnings. Just look at a traditional state run (or government run) lottery, they give out 55% to the prize winners, 15% goes to management fees, and 30% goes to charity.

Yeah. Well, prizes for my site will completely depend on how many users play it, it works with a pool. I have no intentions at all to profit a lot of it, as I want the winners to get as much as they can, but I have to pay for Domain,hosting,possible graphic design, etc.

You can do it like Peerbet which has a 0% house edge.

What would this mean?

If your game is player vs player, then you take on no variance. Peerbet is offering 0% house edge.

Ah, right. Well, it is sort of player vs player, except people play with a pool and you can win that pool. I'd love to do that but I don't see how I could pay for domain and such that way.

It should depends on the amount.


< 1 btc => 1 %
1 - 10 btc => 0.5 %
> 10 btc +> 0.1 %

Peerbet is run off of donations via the user interface, I believe.

I think reasonable depends on how much work you put into the project and laos how profitable it is to you. You should keep i t as low as possible for you to be in solid profits, otherwise you will make less money in long run - loose OR not gain customers. But that depends again on type of your project OR what your "product" is.


Voted 1% but think up to 5% can be reasonable.

If I want to gamble, I choose something with a 1% house edge.

But if I have fun while gambling, I tolerate up to a 5% house edge.

Unrelated to topic, did "posts" just change to "activity"?

Yes, it did. And thanks for your input all! I think I'm going with 1%.