Casino Idea

[marketorder]

I was thinking last night that nearly 100% of the time I go to a Casino and play a slot machine, video poker etc I typically lose everything I came there with. I really enjoyed slot machines when I was younger and naive about the odds of winning.  Now for me playing slot machines is unpleasant because I know the odds are against me and I will likely leave with none of the money I came with. I was thinking about making a casino where the majority of all the profit would be given back to the players leaving the house with a very small percentage of the profits. How would I redistribute the profit to the players, any ideas? Also how would you make a casino p2p where there was no central authority where you could give 100% of the winnings back to the players? For instance the player would either break even or win, if the players would lose the loses would be minimal not devastating.

Instead of building a casino from scratch I was thinking I could make an open source plugin that would redistribute profit and increase the games odds. But I need ideas how to distribute the casino profits effectively so allot more people win              

What would be in it for a casino owner if they only kept 1-25% of the profit, well who the hell wouldn't play at your casino if allot of people where winning? No one wants to lose right?

The overall goal is to make games you would normally lose on like slot games allot more profitable.  

[anshar]

Do you remember EdenDice by any chance? If you haven't, let me explain:

Basically, their motto was "30% given back to the players". And they did just that. So at the end of each day, profits were calculated. Lets say the casino was 1 BTC in profit. 0.3 BTC was distributed evenly to players who played in the last 24 hours. One time I got 0.002+

What about Moneypot. The father in you stay, the house gives you a bonus, usually around 1% your bet. Meaning I can cashout at 1.1x, but really get 1.12x my bet because of the bonus.

Think about either ideas and lmk

[marketorder]

You can learn from other peoples failures? Theirs got to be an effective way of doing it.

How about open source P2P gaming with no central authority or greedy casino owner manipulating games "Not saying all casino owners"

Do you remember EdenDice by any chance? If you haven't, let me explain:

Basically, their motto was "30% given back to the players". And they did just that. So at the end of each day, profits were calculated. Lets say the casino was 1 BTC in profit. 0.3 BTC was distributed evenly to players who played in the last 24 hours. One time I got 0.002+

What about Moneypot. The father in you stay, the house gives you a bonus, usually around 1% your bet. Meaning I can cashout at 1.1x, but really get 1.12x my bet because of the bonus.

Think about either ideas and lmk

[anshar]

How about you think of an idea that's never been done, rather than stealing. Slots are boring, let's face it. How about you let users bet on something other than some spinny wheels? MoneyPot was great, think of more like it.

[Tlee88]

How about you think of an idea that's never been done, rather than stealing. Slots are boring, let's face it. How about you let users bet on something other than some spinny wheels? MoneyPot was great, think of more like it.

Gambling only interesting when we can control our bettings (like Moneypot ) , but diggit.io is easy to win than moneypot ( my opions)

[bitbaby]

I think www.Betwitter.com has something similar going on, Players bet on Pot versus each other based on their choices and it gets distributed among the winning side and the Owner of the site get a tiny profit/commission out of that Pot.

[cramved]

You could do a pvp betting site and then take a percentage of the the winnings like 1-5 percent so that 50 percent of the people are always winning like you mentioned.

[yahoo62278]

i would think that you would lose your butt if you didnt keep any of the profit at all. lets assume 90% of the players break even using your idea. now what about the other 10% that won? thats gonna come straight from your wallet. not a smart idea.

someone mentioned the edendice deal. that was a cool idea and 30% didnt kill the house. where they ran into problems was no player base. i remember logging in many times and the house either lost or there were no bets that day.

overall the idea can probably be achieved but you gotta keep some sort of profits to pay the winners. and pay for your operating costs

[sherbyspark]

Giving back the money wouldn't be profitable for the casinos. They only make money over long term. For example Video Poker has a house edge of around 0.46% , so they theoretically make only 46 cents off every 100 dollars that you wager. They rely on the fact that you wager over a long term to make money by the gamlers losing over time to that house edge.

The only way they will be able to give back the money would be by increasing the house edge, and one site that does the exact thing is luckyb.it. They usually give back part of the amount wagered.

[duckydonald]

You could do a pvp betting site and then take a percentage of the the winnings like 1-5 percent so that 50 percent of the people are always winning like you mentioned.

Why dont we start a P2P everything!!!!  Jesus christ, this p2p in the end will be our downfall

[cramved]

You could do a pvp betting site and then take a percentage of the the winnings like 1-5 percent so that 50 percent of the people are always winning like you mentioned.

Why dont we start a P2P everything!!!!  Jesus christ, this p2p in the end will be our downfall

My idea was for pvp not p2p it would put to players against each other with the site acting as a middle man, not a p2p betting network although that would be interesting if it could be done securely.

[steveturk]

not sure i understand how this would work.

lets say that the casino operates completely free, no house edge, no rake no income from players whatsoever.

in order for someone to win something, someone else will have to lose ?

most reputable casinos taking a 1.8% house, pretty much boils down to a pvp set up...

[Stars]

You could do a pvp betting site and then take a percentage of the the winnings like 1-5 percent so that 50 percent of the people are always winning like you mentioned.

Why dont we start a P2P everything!!!!  Jesus christ, this p2p in the end will be our downfall

My idea was for pvp not p2p it would put to players against each other with the site acting as a middle man, not a p2p betting network although that would be interesting if it could be done securely.

Primedice already have a PvP system.

[EvilPanda]

It would be a good idea, although you have to pay for hosting, so you'll need money to operate. In order for your casino to succeed you'll need to be different, interesting for the players. People are lazy and will rather choose a known site like PD, since they trust it. You as a new casino won't have trust, so you'll need to make up for it.

A lot of casinos take just 1% and have free withdrawals, so it's not like the edge is taking a lot from the players. 99% is either their a win or loss in the game. How would you make your casino stand out?

[duckydonald]

There is many PVP games out there, maybe We should have a pvP list so you guys can see this.

[Slark]

I would like to have skill based games not only random number generated ones. Of course PvP only. Implemented with flash or something like than where I could bet my money on my win against some other people.

[Phildo]

The casino site needs to make money to pay their bills, so some money has to come off the table.

Even if the owner takes a portion of the winnings (call it rake or commission, whatever) eventually they will get the money.

If we do me vs you in flipping a coin, with both put in 1 coin, the winner gets .99 coin if they win, the house gets .01, the loser loses 1, if we go back and forth enough 50/50 the house will get all the money.

You can come up with various bonuses/rakeback/comps to give some of the money back to the players, but you need a house edge to make money, because why would you do it if you aren't making money, and that money has to come from somewhere. I have seen many people try (and fail) to pay the bills via ads only, but that hasn't worked. You need to make money to cover your expenses, and the only successful model has been taking it from the players.

[neoneros]

You could have a physical array of one armed bandids and every bet you pull the lever and generate power for the bitcoin miners, in the end all bitcoins mined by the power the slot junkies generated will be distributed evenly

Casino's work because of the tiny chance you will hit the jackpot, but only one will and the rest will have paid the casino more than enough to willinly depart with the cash for the jackpot winner. Even Moneypot makes more than the house edge and giving away 1% extra if you did not lose is peanuts.

[cramved]

I would like to have skill based games not only random number generated ones. Of course PvP only. Implemented with flash or something like than where I could bet my money on my win against some other people.

I assume you mean like mini games that two people play and the winner takes the money?

[duckydonald]

I actually Had some great idea for PvP but dont wanna mention it because they are good ideas.  I probably hve them up in 3 months from now.