Provably fair or RTP

[bitkilo]

I am starting to look into different methods used by bitcoin casinos for a small project i am working on and would like to ask the gambling members here a couple of questions on what they look for when choosing a new casino to plat at.

The first thing i want to know is when choosing a bitcoin casino to play at would you prefer a provably fair casino or one uses the RTP (return to player)

If the site users RTP for slots like a lot do what do you think is about the industry standard for it to be set to?
Most i have come across so far seem to set RTP to between 94%-98% does that sound about right?
Also if the casino uses RTP do you look into how this is audited?

It looks like all the sites now use the provably fair method for at least dice and blackjack but i have not seen many slots that use this, is even possible to develop a fancy slot machine using provably fair?


 

[cazkooo]

I am starting to look into different methods used by bitcoin casinos for a small project i am working on and would like to ask the gambling members here a couple of questions on what they look for when choosing a new casino to plat at.

The first thing i want to know is when choosing a bitcoin casino to play at would you prefer a provably fair casino or one uses the RTP (return to player)

If the site users RTP for slots like a lot do what do you think is about the industry standard for it to be set to?
Most i have come across so far seem to set RTP to between 94%-98% does that sound about right?
Also if the casino uses RTP do you look into how this is audited?

It looks like all the sites now use the provably fair method for at least dice and blackjack but i have not seen many slots that use this, is even possible to develop a fancy slot machine using provably fair?

What Im trying to understand is the RTP. isnt the RTP be the same as house edge? 1 % house edge means 99 % RTP so it is the same actually or am I missing something right here?would be good if someone could shed some lights here besides that provably fair is always needed in the gambling industry though

[RHavar]

RTP and provably fair are concepts largely orthogonal. RTP is just 1 - houseEdge, while provably fair just means people are given the means to verify the results were ..fair. In order to verify the results were fair, it ends to encode the house edge in the algorithm. So all provably fair systems I'm aware of do allow people to calculate the houseEdge (and thus RTP), but if you just give someone the RTP or house edge it doesn't mean they can verify it's the case.

It looks like all the sites now use the provably fair method for at least dice and blackjack but i have not seen many slots that use this, is even possible to develop a fancy slot machine using provably fair?

Absolutely. The only thing that complicates provably fair tends to be when it's multiplayer stuff.

[RussianRaibow]

I definitely look for the site to be provably fair.  If you can't verify for your self that the algorithms are fair, then how can you know the RTP (or house edge) is accurate.  They could say it is one thing, but actually be paying out far less.  There are a lot of scam sites out there that are taking advantage of people, and it's really the people's fault because they are willing to play even though it's not provably fair.

[bitkilo]

I definitely look for the site to be provably fair.  If you can't verify for your self that the algorithms are fair, then how can you know the RTP (or house edge) is accurate.  They could say it is one thing, but actually be paying out far less.  There are a lot of scam sites out there that are taking advantage of people, and it's really the people's fault because they are willing to play even though it's not provably fair.

Thanks this is what sort of feedback I'm looking for.

I agree that if offering provably fair in any game the casino should be set up in a way where players can verify their bet any time they want.

How often would you actually check the bet seed against your bet, only on losses or every single bet?
Would you trust an auto verifying system where as it would show you that each bet has been checked after play, you would also be able to check it yourself at anytime?

[BitMaxz]

I definitely look for the site to be provably fair.  If you can't verify for your self that the algorithms are fair, then how can you know the RTP (or house edge) is accurate.  They could say it is one thing, but actually be paying out far less.  There are a lot of scam sites out there that are taking advantage of people, and it's really the people's fault because they are willing to play even though it's not provably fair.

Thanks this is what sort of feedback I'm looking for.

I agree that if offering provably fair in any game the casino should be set up in a way where players can verify their bet any time they want.

How often would you actually check the bet seed against your bet, only on losses or every single bet?
Would you trust an auto verifying system where as it would show you that each bet has been checked after play, you would also be able to check it yourself at anytime?

Yeah its good to show  and setup a way where player can verify their bets.. to check if the site and your bet is provably fair.. because many people now are complaining for all games out there.. and they are thinking now that all online games are fraud..
So confirm that they are legit better to give a page for verifying their bets.. honestly i tried some site that has a page to verified your bets but honestly i dont understand how to check there.. and i think better to make a video too for verifying bets.. thats why it can easily understand how to verified the bets..

[bitkilo]

I definitely look for the site to be provably fair.  If you can't verify for your self that the algorithms are fair, then how can you know the RTP (or house edge) is accurate.  They could say it is one thing, but actually be paying out far less.  There are a lot of scam sites out there that are taking advantage of people, and it's really the people's fault because they are willing to play even though it's not provably fair.

Thanks this is what sort of feedback I'm looking for.

I agree that if offering provably fair in any game the casino should be set up in a way where players can verify their bet any time they want.

How often would you actually check the bet seed against your bet, only on losses or every single bet?
Would you trust an auto verifying system where as it would show you that each bet has been checked after play, you would also be able to check it yourself at anytime?

Yeah its good to show  and setup a way where player can verify their bets.. to check if the site and your bet is provably fair.. because many people now are complaining for all games out there.. and they are thinking now that all online games are fraud..
So confirm that they are legit better to give a page for verifying their bets.. honestly i tried some site that has a page to verified your bets but honestly i dont understand how to check there.. and i think better to make a video too for verifying bets.. thats why it can easily understand how to verified the bets..

The idea of a "how to" video verifing bet seeds is a great idea, thanks.

[eternalgloom]

I always play at casinos that are provably fair, you can even have a slightly bigger house edge than other casinos if your games are unique or if there is a chance of winning a big jackpot for example.

This is more of a personal preference, but I usually only play on casinos that do not use Flash for their games.