Small negative house edge

[JaredStein]

I think negative house edge could be attractive to a lot of gamblers. A bit risky for the house... but could still be a profitable proposition based on player emotion/greed.

Say someone left a autobet on at 0.00001 all day or something, they would come out with money and house would lose.

[B4RF]

If the house edge is negative just bet static bets, lets say 0.001 bets all the time

With a chance of 51% of win you would eventually reach that chance and for example in 1 million bets

you would win 510.000 and lose 490.000 bets

wich means that you won 20.000 bets more than loses 20.000 x 0.001 = 20 bitcoins

There is no argument that would encourage a casino to use a nagative house edge after this post.

So I think everything has already been said after the seceond post in this thread...

[XinXan]

If the house edge is negative just bet static bets, lets say 0.001 bets all the time

With a chance of 51% of win you would eventually reach that chance and for example in 1 million bets

you would win 510.000 and lose 490.000 bets

wich means that you won 20.000 bets more than loses 20.000 x 0.001 = 20 bitcoins

There is no argument that would encourage a casino to use a nagative house edge after this post.

So I think everything has already been said after the seceond post in this thread...

Well after that post OP tried to break that strategy saying that the casino would not have an automatic betting system and the bets would be slow wich doesnt do anything but slow the process, whats mind blowing is how people voted that the casino would still win because people would be greedy, like it doesnt even matter as long as someone intelligent does that since he would be profiting forever.

[deisik]

If the house edge is negative just bet static bets, lets say 0.001 bets all the time

With a chance of 51% of win you would eventually reach that chance and for example in 1 million bets

you would win 510.000 and lose 490.000 bets

wich means that you won 20.000 bets more than loses 20.000 x 0.001 = 20 bitcoins

There is no argument that would encourage a casino to use a nagative house edge after this post.

So I think everything has already been said after the seceond post in this thread...

Well after that post OP tried to break that strategy saying that the casino would not have an automatic betting system and the bets would be slow wich doesnt do anything but slow the process, whats mind blowing is how people voted that the casino would still win because people would be greedy, like it doesnt even matter as long as someone intelligent does that since he would be profiting forever.

Yeah, I finally made it... Read your post and seem to have understood it!

Since that post I significantly revised a casino strategy for the negative house edge, and, what is important, in respect to "the bets being slow which doesn't do anything but slow the process". In fact, now I suggest a changeable house edge (which would surely lure in new users), depending on either the betting speed or house profit (the latter was not my idea, with all due credit)...

[kotwica666]

I think negative house edge could be attractive to a lot of gamblers. A bit risky for the house... but could still be a profitable proposition based on player emotion/greed.

Say someone left a autobet on at 0.00001 all day or something, they would come out with money and house would lose.

This is an example of just one player.

Imagine what happens when do that a hundred people..

[futureofbitcoin]

Sigh, Deisik, if you still can't understand after I and many others took the time to explain such a simple concept, I really don't know what to say. Seriously, read the central concept of our posts. Your trivial modifications don't do anything.


It's like then you ask "well, what if I change the name of the casino? Your arguments were against the previous casino I suggested". That's completely irrelevant and insignificant. You're nitpicking at places that simply DON'T MATTER.

+EV for players doesn't bring in real gamblers. It brings in investors. It will also lose money for the casino.


Whatever changes you make, that's a fact that won't change. If you completely change the system, then it no longer has anything to do with the central concept of this thread; giving the players an edge in order to attract more players and profit for the casino.

If for example, the casino has a side business selling shoes. The casino ends up making a bit of money, because the shoe business can cover the loss from the casino games, that doesn't make +EV a good idea suddenly. Similarly, when the odds change, that might make the casino money, which can cover some of the losses giving the players an edge made. But that's irrelevant.

[patt0]

^ Just a negative house edge wouldn't work, but if you change the house edge I think it can work. The casino would have to change it depending on the profit it made so far.
For example if profit was below some value, the house edge would be positive to help the house win more. When profit was above some value, the house edge would go lower to reduce the profit lol. Hopefully that brings in more players. xD

[XinXan]

Honestly at this point i dont know how people still play dice, its just not fun and you lose, poker blackjack and pretty much any other games are way more fun than dice and you can even win some money on poker on pvp.

By the way on 0% House Edge the casino would win money tho.

[B4RF]

Honestly at this point i dont know how people still play dice, its just not fun and you lose, poker blackjack and pretty much any other games are way more fun than dice and you can even win some money on poker on pvp.

By the way on 0% House Edge the casino would win money tho.

yea, at 0% flat betting doesn't work and any other betting strategy would lose in the long run because variance has a larger impact than some percentages of the house edge i think.

[GreenStox]

Negative house edge wont work for the following reason:

More people will bet when the edge is negative, than when it's positive, thus either the casino will go bankrupt quickly, or the edge will quickly shift back to positive edge (because the profits made by the house diminish, thus it switches back to positive edge)