Variable house edge

[deisik]

This topic should be considered as a part of a related topic on negative house edge, but since people tend to repeat again and again what has already been discussed in that topic, I thought it would be wiser to start a new one dedicated to this issue only. Since many think the idea of a negative house edge is stillborn, I suggest that the house edge should depend on either the betting speed or house profit...

So, would a variable house edge (probably, from negative to positive) attract new users, and is this idea viable at all?

[1715173026]

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[1715173026]

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[1715173026]

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[GrandmaJean]

This topic should considered as a part of a related topic of negative house edge, but since people tend to repeat again and again what has already been discussed in that topic, I thought It would be wiser to start a new one dedicated to this issue only.

Would a variable house edge (probably, from negative to positive) attract new users, and is this idea viable at all?

of course it would attract more players. even though it would be still impossible to beat the casino. i think its the way for casinos to get more players

[qwer312]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

[GrandmaJean]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

well it could be positive house edge too so why would anyone play on -2 % edge while they could play on positive house edge?

[deisik]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

As they say, show me your money! This reminds me of many currency exchanges out there, that charge crazy fees (even for just placing your orders on the order-book). They pretend to be working with "big fish" whereas many of them are in fact just money-laundering shops...

[fox19891989]

IMO slot may have variable house edge.

I have tried slots in a casino, and I use the same bankroll and the same bet, even I played in the same slots, I have different result in different time.

Maybe the reason is luck, the more reasonable explanation could be variable house edge.

I guess casino can change or set the house edge of slot? I am not sure.

[katerniko1]

if its negative to positive it would be great

[98problems]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

As they say, show me your money! This reminds me of many currency exchanges out there, that charge crazy fees (even for just placing your orders on the order-book), which pretend to be working with "big fish" whereas many of them are in fact just money-laundering shops...

wait so the variable house edge would be different for different amount of bets not for win/lose contrast? if yes the casino will not attract players

[deisik]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

As they say, show me your money! This reminds me of many currency exchanges out there, that charge crazy fees (even for just placing your orders on the order-book), which pretend to be working with "big fish" whereas many of them are in fact just money-laundering shops...

wait so the variable house edge would be different for different amount of bets not for win/lose contrast? if yes the casino will not attract players

What made you think so? Actually, I had two ideas regarding a variable house edge (which I proposed in the Negative House Edge thread). The first one is about the house edge being dependent on the time interval between bets, i.e. the lesser the gap, the higher the edge. The second idea makes the house edge depend on the house profit, i.e. the higher the profit, the lesser the edge...

Updated the opening post to avoid further confusion

[syamster]

What will be the difference between negative and positive edge ? I tried lots of dice sites, at last every one is same, my account become zero, so whats the advantage you are talking about ?

[deisik]

What will be the difference between negative and positive edge ? I tried lots of dice sites, at last every one is same, my account become zero, so whats the advantage you are talking about ?

If you mean an advantage to users, then, for example, making the house edge dependent on the house profit gives you a real possibility to earn something there. Is this not interesting enough to bring in new players? To me, it would look more like investing, though still giving you a thrill and jeopardy of losing everything in the end...

[syamster]

Yes interesting, but do you think, they started a dice site for giving away money ? I dont think so...

[deisik]

Yes interesting, but do you think, they started a dice site for giving away money ? I dont think so...

They won't be giving away money, they would be sharing some of their profits, right. But if the house may in the end earn more with a variable house edge than with a fixed one (through expanding their userbase), this would be a wise business strategy, wouldn't it?

[syamster]

hmmmmmmmmmmm..... now I understood... variable are better so that they can create a userbase in the competitive industry... thanks for the info mate....so its basically a promotion tactics, later they can change the house edge....

[deisik]

hmmmmmmmmmmm..... now I understood... variable are better so that they can create a userbase in the competitive industry... thanks for the info mate....so its basically a promotion tactics, later they can change the house edge....

You're welcome!

So, in a sense, a negative house edge can be considered more as an investment option for those dice sites that don't want to bother about allowing users to invest directly or on a permanent basis (or just don't want outside investments altogether)...

[GoodMerchant]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

well it could be positive house edge too so why would anyone play on -2 % edge while they could play on positive house edge?

he never said negative HE

[arallmuus]

variable house edge only attract small fishes.. big fishes doesnt want 2%HE or more

As they say, show me your money! This reminds me of many currency exchanges out there, that charge crazy fees (even for just placing your orders on the order-book), which pretend to be working with "big fish" whereas many of them are in fact just money-laundering shops...

wait so the variable house edge would be different for different amount of bets not for win/lose contrast? if yes the casino will not attract players

What made you think so? Actually, I had two ideas regarding a variable house edge (which I proposed in the Negative House Edge thread). The first one is about the house edge being dependent on the time interval between bets, i.e. the lesser the gap, the higher the edge. The second idea makes the house edge depend on the house profit, i.e. the higher the profit, the lesser the edge...

Updated the opening post to avoid further confusion

there is actually two variable house edge sites here already which is moneypot and safedice and almost like you proposed, the house edge go higher if we tend to get the higher multiplier

[shanem]

Whales would not bet at places where you are variable house edge as they would not know whether the house would have a big house edge over them.
Even if you publish your house edge daily, people would wait until your house edge is at the lowest point before they bet.

[deisik]

Whales would not bet at places where you are variable house edge as they would not know whether the house would have a big house edge over them.
Even if you publish your house edge daily, people would wait until your house edge is at the lowest point before they bet.

If the house edge is made dependent on the profit earned by the house, the longer they wait, the higher it will be. Up to a point where it becomes no different from betting at sites where the house edge is firmly fixed. Therefore it should never be the case. Furthermore, the house edge changes can be shown in real time, so no big issue here either, in regard to big whales or whoever it may concern...

[Phildo]

You are probably better off just offering the smallest house edge you can live with.

Changing the odds based on how often people bet probably won't work too well because that will encourage people to bet too much, which will probably make them go broke a lot faster than other ideas. You can shear a sheep many times, but you can only eat it once.

I also don't think varying it based on profit is a smart idea either. The profit should always be going up, a counter on the website showing exactly how much money you are winning (aka how much bettors are losing) doesn't seem like the best play. Also, if it updates in real time and the odds change after every bet, you are going to have more people walking away after wins. If I just won 1.99 on a 50% bet and it tells me 1 second later I can only win 1.97 on that bet I'm a lot more likely to stop.

[deisik]

You are probably better off just offering the smallest house edge you can live with.

Changing the odds based on how often people bet probably won't work too well because that will encourage people to bet too much, which will probably make them go broke a lot faster than other ideas. You can shear a sheep many times, but you can only eat it once.

I also don't think varying it based on profit is a smart idea either. The profit should always be going up, a counter on the website showing exactly how much money you are winning (aka how much bettors are losing) doesn't seem like the best play. Also, if it updates in real time and the odds change after every bet, you are going to have more people walking away after wins. If I just won 1.99 on a 50% bet and it tells me 1 second later I can only win 1.97 on that bet I'm a lot more likely to stop.

Actually, I appreciate your pains. But try to look at this from a different angle. Say, you are the casino, and today you earned enough to call it a day (no pun), so you have a few options to reward your userbase. The most obvious is to just give away the money. But if you would distribute the surplus evenly to all players, no one will be quite happy, since people are envious. If you endow just the most "valuable" players (whatever you may think by that), others will most certainly feel disadvantaged and miserable (since people would be even more envious). Then you can lower the house edge, or even make it negative for some time, so you give the players more incentive to play further on. And everyone will be happy with you, right?

[yakuza699]

If we talk about changing house edge we must mention coinvegas.com it had a HS from -2% to I think +6% and the average was +2% unfortunately the site is down and I don't know what happened to them.

[zcxvbs]

Why negative edge? I would rather giving away money to people directly instead of running a gambling site with negative edge.

[Nami]

I guess it really depends on how often the variable changes. And does the change are announced or not.

[deisik]

Why negative edge? I would rather giving away money to people directly instead of running a gambling site with negative edge.

I am inclined to think that just giving the money away to people directly wouldn't be the optimal strategy if you aim to attract new users or keep your existing user base. I can show it empirically (through examples), but first would love to hear your substantiated opinion why this wouldn't be the case...

[toytoboy]

Someone here help me to explain what does "House Edge' mean ? I don't know anything about that

Thanks !

[deisik]

Someone here help me to explain what does "House Edge' mean ? I don't know anything about that

Thanks !

Edge means an advantage. Consequently, a house edge means an advantage of the house over their players. For example, when you set odds to 2x and the house edge is 0.5%, you will win only if you roll above 50.5 (in the High game) but not 50 (as the case would be if there was no house edge at all)...

[BTCreward]

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.

[neoneros]

A variable edge could be interesting and an incentive to wager more the moment the edge is at its lowest, the lower the edge the more you are willing to risk. It is a simple supply and demand, the more people bet and lose, the lower the edge can be.

Couldn't a variable or possitive house edge not be based and funded by advertising? I think this could work.

[Astargath]

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.

Wth are you talking about with the fee, the house edge is made to make you lose certainly over the long term, its not a fee its a "trick" casinos have to guarantee they will profit.

[SyGambler]

for sure it will attract more players
math play the biggest part in gambling

but i am sure that's impossible to happen
in best cases the house edge would be Zero

[arallmuus]

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

[Minnlo]

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.

[arallmuus]

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.

you are right, perhaps I miss write it, what I meant is that actually fee actually affect all of your betby taking in some minus to your bet, but a house edge will not always affect your bet in term of taking in some minus to your bet

should been right by now, I needed a better words to actually describe this actually

[LiQuidx]

This topic should be considered as a part of a related topic on negative house edge, but since people tend to repeat again and again what has already been discussed in that topic, I thought it would be wiser to start a new one dedicated to this issue only. Since many think the idea of a negative house edge is stillborn, I suggest that the house edge should depend on either the betting speed or house profit...

So, would a variable house edge (probably, from negative to positive) attract new users, and is this idea viable at all?

That would be great and of course it would attract more players, especially people who plan on wage big amounts.