Someone here help me to explain what does "House Edge' mean ? I don't know anything about that
Thanks !
Edge means an advantage. Consequently, house edge means an advantage of the house over their players. For example, when you set odds to 2x but win only if you roll above 50.5 but not 50. Then 50.5-50=0.5 will be a house edge... yes because the house ( site ) isnt your servant to providethe platform for free, so they charge a small fee in the form of edge.
house edge isnt a fee at all, this is a different term to use and it is absolutely different, Fee actually will affect each of your game in one site but a house edge will not affect all of your game , but the longer you play, the house edge will actually then affect you As a matter of fact, house edge affects you on all of your bets. If there is no house edge, you will win 50% of your bet on 2x, but with 1% edge, you will win just 49.5%. The effect may not be easily noticeable if you just make a small of number of bets, but it is still there. |
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Chasing your gambling losses is usually a bad idea, and with a high probability you will just end up digging yourself a deeper hole. If I were you, I would just withdraw the remaining balance to personal wallet, and earn 0.1 btc back through providing a service or joining a sig campaign.
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well, looks like he cheated the system. I don't how he did that, but Stunna said that he'll post an article about it soon.
I was there when he won the first 1k and some people told the admins that they should check those bets thoroughly.. guess they didn't check enough
He apparently cheated by knowing his server seed. Once you know that, you can calculate what your future rolls will be. I am still curious how he actually did that . Doesn't look like he just got lucky by figuring out the seed as following his win, there was another user who made 140 bets of 10 BTC and won all of them, which looked like done to show some kind of flaw. So I am guessing he was able to figure out the seed due to some flaw in the system. Will still wait for the article from Stunna on it. In case you don't know it yet, that user is "Robinnhood" who was flat betting 10 btc and won all the bets after Stunna declined his withdrawal. And according to Stunna, "Robinnhood" is the same person as "Hufflepuff". https://bitcointalk.org/index.php?topic=843892.msg10773844#msg10773844 |
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Interested in how he did it then. Knowing your server seed is not something that will tell you what to bet in advance? A lot of betting sites even provide the seed to be sure they play 'fair'
Not really. Provably fair sites will only provide you the hash of your server seed beforehand, but not the server seed itself. Otherwise, the players will know what number is going to be rolled before the bet is made. |
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@98problems, he places lots and lots of bets. Eventually anybody will get lucky but you'll have to be willing to place a lot of 0.1 BTC bets. He has worked hard for his win  not everyone will be lucky though even if they bet 10,000 times, its still not a guarantee to hit that x999 well... i've got much more bets than 10000 well good for you ending up in 101btc profit  you should buy your own island  ending with 101 BTC in profit? lio could you clarify about this? because it seems like lio has already made a lot of bet before ending with the x999 payout, so his profit could be lower than 100 BTC count, might perhaps like 30-60 BTC considering the amount that he used to rain at the red game He told he is up 80 btc with that red. Wow, that is some serious profit. Congrats lioliomir. PS. On second thoughts, he was in fact having a 20 btc loss before that x999. What a comeback. |
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getting in for free tips..
17WSHafaw1aF1vnuFY6xMUZZfbkVUvSQTL
You have misunderstood OP's post completely lol. He is giving out tips (advice or suggestion) on sports betting for free, but not giving out free money. |
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It is the reason why people lose their money. Martingale does not work. The goat behind the door does not care about previous choices and chances are reset every time you take a gamble. Unless it is rigged.
Imagine there were 1000 doors and there are goats behind all but one, you now choose door 1, the host opens all the other doors but number 1 and number 267. Would you go with door number 1 or door number 267? Do you think the goat cares? If youd like to get that car, you better change to door 267 as motherfucking fast as you can. Do you really believe there is a 50% chance still? lol, if I am correct, I think the chances of winning are 999/1000 by picking door 267.  the chances are 50% by picking the door 267 because you are choosing between 2 doors, 50/50 The chances are 1 / 1000 the first time you pick a door. Not really, ndnhc is correct. I would suggest you to take a look at http://betterexplained.com/articles/understanding-the-monty-hall-problem/. Or you could make a simple simulation to check the probability yourself. |
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-snip
I don't know how the house edge is actually implemented at dice sites (anyone care to explain?)
-snip
It is very simple, the site just set your probability to win to make your EV always be (1- House edge %)*bet size. For example if you are playing a x2 bet in a 0.5% edge site, you will win the bet if the roll is under 49.75. (1-0.5% = 49.75%*2) But if you are playing in a 1% edge site, you will win the bet if the roll is under 49.5. (1-1% = 49.5%*2) |
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Oh...ok... I thought they were old because the domain registered in 2014 May or so... I though it could be a old site... thanks for the info...
The domain was registered in 2014, but the site was originally about "Financial and sports betting". Original thread: https://bitcointalk.org/index.php?topic=532871.0. No idea if OP is the original owner or just bought the domain though. |
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Is there actually Russian chat on Primedice or are you guys fooling around with me? I remember Micro being very angry at anyone who used anything other than what decided was English.
There is actually a Russian chat room. At the bottom of the chat tab, there is a "Change Chat Room:" drop down menu, and you can choose from 3 different rooms "English", "PVP" and "Russian". |
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from gambling i never win more than 0.3 btc and if any person have win thousands of bitcoin that is a super lucky person
because very rarely it happen
He win it becouse he cheat. But i saw people win 10 btc from nothing. If you have much money for playing you can win a lot. My biggest win was 2.5 BTC from 0.01 in one night. Yes he is a confirmed cheat and we don't class cheats exploits as profit but there is someone who won more than him at just-dice in 2013 i think i will try find the link and edit this post if i can't just type in "Just-dice biggest weekend winner" if i remember rightly it was like 10,000-20,000 investors was trying to get their investments out when they knew he come online lol Not sure if he was legit or cheat but they never proved cheat so guess he was good'ish. You are probably talking Nakowa, he won a lot there but lost a lot aswell, he still had profit tho but the site recovered a lot of money when other player lost 7k btc in 1 bet. 7k! on one bet  I am sure they did recover that is the craziest thing i have heard have you got links for either of these cases because they seem interesting i am going to have to check it out, the most i have ever one is 2bitcoin these guys are playing with 1000's lol good on erm but that is a bit extreme is it not? I earned a little extra from over time at work so i will buy bitcoin as it is still at a good price. Yup that guy risked 7016 btc (it was worth 800K USD at that time) on a 96.2% bet and lost it.  For the details, you can check http://www.reddit.com/r/Bitcoin/comments/1npmaq/highroller_loses_800k_with_allin_bet_on_justdice/ |
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Dice betting is always with a small 1% negative EV, no matter how you play. The good thing is that it is fast and very easy to play.
Sports betting could give you positive or negative EV, depending on how good you are. Sometimes the other gamblers are under-confident in one team, causing the odds to go higher than it should.
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I would like to play poker here, but is the server down ?
I don't think so. I can now load both the site and the game lobby without any problem. |
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Instead of continuing the poll and collecting more suggestions, I think you can test it directly and lower the timeframe to 15 minutes for a few days to see whether there are enough activities.
If it works well, you can further lower the timeframe. If not, you can increase it to find a balance.
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Well Gambler's Fallacy is derived from the law of large numbers. Of course if you flip a coin 10,000 times with all heads, the next flip is still a 50/50 but the odds of that happening are really low.
0.00000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000000000000 00000000000000000000000000000000000000000000000001% That would be the chances of getting 10.000 heads in a row if im not mistaken That is definitely not right. The odds of getting 10 heads in a row is 0.09% . And not the figure you have posted. Who is talking about 10 heads? I said 10.000 bets, 10 thousand in a row The confusion is caused by your "10.000". Part of the world is using a comma as thousand separator, and another part of the world is using a dot. http://en.wikipedia.org/wiki/Decimal_mark#Examples_of_use |
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snmp had a long winning streak, taking the profits down to -80... but had a 21-losing streak here, bringing the site back to positive profits.
Oh my, that is a quick 83.886 btc loss within just 13 seconds... Again, it shows the high risk of running martingale for an extended period of time. |
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Hey guys, did I mention that Blackjack and Wheel are eligible for bonus wagering? Good luck! And I've sent the Daily Bonus codes to try out Blackjack and Wheel.
Good luck!
Claimed the bonus code, thanks, and As usual i blow it up after just a few percent of wagered, what is the percent contribution does blackjack and wheel games toward the 45x rollover 10 %, it will be hard as usual if it is 10 %, should have been atleast 50 % From the players' viewpoint, it is of course better to have a higher contribution %. But 50% would be way too high, and it would cause the house to lose a lot. Considering their blackjack game has a EV of 99.63%, wagering 90 times (to complete 45x rollover if 50% contribution) would just cause you to lose 33% of your bonus. |
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It is good to set a goal when to cashout but sometimes after I cashout, the chart goes to the moon and I regret my decision.
To cashout early and get some profit is always a better option , no one really knows if the chart actually gonna blow above 1000x or crash before 2x, so to cashout safely and control your greedness is always the best thing to do in gambling Ironically the only way to beat the house edge is to play strategically to maximize your bonus, in which you need to bet high and cashout late. So in order to have +EV (safe in some sense), you need to play unsafe bets . |
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Picked Primedice. When compared to newer sites like Safedice and Dadice, PD looks pretty plain, But I have already get used to it. |
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I'm curious how investing on gambling websites work?
Let's make an example that website has 100 BTC of it's own capital.
Then an investor come and deposit another 100 BTC. Total bankroll of gambling website is then 200 BTC
What does this mean? Does the owner and investor share profits 50/50, or has the owner more percentage, because he build the website?
If 50% of the site bankroll is contributed by you, then you will be able to share 50% of the house profit or lose, but it is subject to a commission (typically 10%) before you are able to divest. So if the house win 10 btc, you will get 5 btc profit before divestment and 4.5 btc profit after divestment. |
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