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So you are basically suggesting a variable house edge. e.g. losers lose 2%, whereas winners have no house edge? That doesn't make any sense.
Not suggesting variable house edge. Just seeing limits and trying to understand where they come from.  Why 98% is good Win Chance for the house and 98.01% is not? |
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The question is not what is the strategy to set Win Chance as player, but what is the strategy for the casino house to define Win Chance limits.
I think you should probably read their terms if there's any about the win chance limits but I guess that's for confidentiality on casino's end, correct me if I'm wrong. I guess it's more of a tradition and on some notable dice sites I played mostly it is always 0.01 to 99.98% win chance limits. None of the casinos that I checked (about 10) declared any terms where Win Chance limit logic is defined. Doesn't look like this is some secret topic. It boils down to allowing very small payouts. I think the worst case is that for example: HE = 1% Win Chance = 99.00% then multiplier will be 1. It means if player bets 1000€ and lucky, then he will just get his 1000€ back. Only risk here I see is accumulating wager for cheap price if casino is running anything on wager. Allowing more than 99.00% doesn't make sense, because then it becomes unlucky bet automatically. But what is wrong with range 98-99%? Why casinos are avoiding this range? |
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The question is not what is the strategy to set Win Chance as player, but what is the strategy for the casino house to define Win Chance limits.
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I wonder how games are defining minimum and maximum Win Chance for Dice games?
Some allows from 0.01 to 98.00, some to 98.01 with 1% HE. I've seen very precise numbers such as 0.01 to 97.254 with 0.8% HE. Not sure if HE is involved at all in defining limits.
Some are just restricting from 2 to 98%, also another is 0.01 to 99.98%.
What are the strategies and risks to casino house should consider, when defining Win Chance limits?
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I think bitpay can do the job. I already use bitpay but it's for making a payment to buy a product, and it's connected with bitpay.
But I never know if bitpay can be used for another thing and it's a new thing for me.
I cannot imagine how much money we will use to make a full node.
But hey, what kind of regulation that will be needed for the merchant?
Bitpay terms says: If your use of the Services relates to one of the following restricted activities, your activities are subject to internal review and you are only allowed to transact when expressly authorized by BitPay in writing:
Transactions that involve gambling or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, and sweepstakes, unless you have obtained our prior written approval and you and your customers are located exclusively in jurisdictions where such activities are permitted by law. Casino owner need lawyer to steer this properly. |
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Though in it's early development and few gambling website integrating it, bitcoin lightning network provides many of the functions you want. They provide a instant zero fee transactions between wallet and sites providing you maximum use of each of your satoshi. I have no extensive knowledge about the lightning network but it seems to be similar to moneypot but not limited in gambling sites. Even popular services like bitrefill and exchanges had started supporting lightning network.
But if bitcoin wallet third party service is really needed then I think I.have not seen any projects implemented regarding with its purpose. Maybe others will going to see this and make an idea then start a project. Using third party service doesn't mean players are redirected to gateway site, make payment and come back. All services are providing API, which implemented by casino and as a player you have no chance to know if it's third party wallet broker or direct connection. |
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You mean a third party to deposit btc when betting online casino? Well, the online betting casino.platform has already provided this and having third party is not really necesary. Just create an account in an online casino betting platform.and send your btc to their platform directly to your account. If anything will not going to go well like losing your deposits the. Show your bitcoin.tracker if it is successful or not. The block chain wi tell amd will never lie.
Third party deposit AND withdraw. Actually I am not casino user, but developer. Of course alternative option is to make full node, but at this point I don't want to invest in that. To sum up what I've found so far, for others in need: mycelium - no withdraw, only deposit coingate bitpay coinify gocoin bitgo - requires 1mln USD monthly traffic bitaps However, most of the services are following gambling regulation rules, which needs merchant verification, anti-money-laundry measures etc.. Moreover, from 1st May there is new regulation, which requires merchant verification even for crypto-to-crypto transactions. |
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Are there any services around, providing wallets for BTC, ETC and other currencies which can be used by gambling site to deposit/withdraw/exchange crypto from users, without actually implementing connection to crypto network?
Can you explain this a little more ? Do you need a gambling site which also provide the trading services as you mentioned "exchange crypto" ? Well, i dont think if there is any such site and Also i am not sure its good idea He is looking for a wallet service instead of a gambling site if I understand it correctly. A wallet that can be connected directly to a gambling site so users do not need to deposit/withdraw. Maybe something like Moneypot, it was a wallet for gamblers that can be connected to gambling sites/apps that uses the moneypot API. Users will deposit to generated address (which will be generated for each user) and deposit command will send to user's wallet. I could go with creating full node next to my server, but no resources now for maintaining it and it's out of scope. |
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Delete one of the threads and stick to one thread only.
done |
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in my opinion, there is no wallet that has such a function. wallet now still needs crypto network to receive or send. maybe an azart wallet can be used for gambling transactions. but requires a connection to the crypto network.
Connection to crypto network is in domain of crypto wallet provider. I only need an API to provide deposit and withdraw functionality for my website users. Coinify has something similar, but again gambling, betting is sort of restricted in terms. |
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I'll assume that you're looking for wallets which directly connect to casinos without making users deposit/withdraw their crypto from the casino through conventional means.
Exactly what I am after. I see BitGo is providing such service, but not entirely sure if it's possible to use for gambling. |
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Are there any services around, providing wallets for BTC, ETC and other currencies which can be used by gambling site to deposit/withdraw/exchange crypto from users, without actually implementing connection to crypto network?
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Are there any services around, providing wallets for BTC, ETC and other currencies which can be used by gambling site to deposit/withdraw/exchange crypto from users, without actually implementing connection to crypto network?
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