No House Edge?

[TriggerX]

When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?

[skmall29]

When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?

There is still no guarantee to win or lose in every gambling, the house edge doesnt guarantee that. Its just a fee to the house thats why it looks like house is winning because of it,

[skierchewing]

Well, i think gamble website wins because players always want to earn like crazy multiplier from initial value...
1% for more or less for exemple... is something considerable... but not the "big" earn from the sites.

for 2x we have 50%... the problem is... when you sucessful 2x... you want to play again... in the end... let's say... 1 every 100 people will reach 100x sucessful from initial value in theory.

The question is... who reach 100x, for sure will try to earn more, and will lose it lol..., also we have a psycologic question... have you played big values?

when you starting losing alot... something bring you to "ah, i already lose so much... now i'll go crazy and go to ALL WIN" and bummm, you lose all '-'

[arallmuus]

What if a dice site had no house edge? Then would it be able to profit?

It will not be a guarantee if a dice sites has no house edge then the gambler will be able to profit from since in the end it will depends on luck itself.
Playing in a site with no house edge itself will be an advantages for the gambler itself but the house usually lower the house edge in term of bonuses which of course will be obtained for X requirement

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?

I would say it will be easier to make a profit but still not a guarantee. If you check at this site (unfortunately it has been closed) https://bitcointalk.org/index.php?topic=1024221.0. The house is on negative house edge due to the recover loss function. In the end the site is closed since I thought it is not profitable for the house or neither the investor

P.S : OP of the site claimed that it is not that the site is not profitable but I think it is because of that

[TriggerX]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

[skmall29]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Your chance of being in positive profit is higher than you dont know when to stop. If you dont have goals to reach before stopping its like you are waiting to your funds get busted

[arallmuus]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

[XinXan]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

[mayflor2]

When I bet on primedice, there is always one fellow who asks, "is it profitable to gamble?" Many time I see those questions, the answer is " no because there is a house edge"

What if a dice site had no house edge? Then would it be able to profit?

What if a dice site has a negative house edge? Will we (the gamblers) start making profit?

I have seen a few sites do 0 house edge dice by having a player vs player system.   They do wind up taking a fee, but it is usually less than what the house edge would be.

[arallmuus]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

No it doesnt, it only help you to not lose more. Setting up a goal wont help in you in winning if you have a bad luck . You are contradicting your own words there. See the bolded part in your post, " you would still lose" you said it yourself.

That is my point that I am writing if you dont understand about it. Even if I set up my goal for X profit , I will still lose if bad luck occurs so it is not helping at all but setting up a goal to stop after X loses will help me not to lose more

[skmall29]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

You will only have high chance of winning in your strategy to bet at 95% but still that 5% have a chance to kill your balance.

[panjul07]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

Playing with higher winning chance is also not a guarantee that a player will always get profit.
Do you remember someone who lost 7000btc in 96% winning chance?  
And yes, it depends on "LUCK" as what arallmuss said.

[XinXan]

Well what if I say I have a determined goal? Like I reach 0.1 with 0.05? Would it change then knowing I will stop if I reach 0.1?

Setting a goal will not be helping you in reaching profit since at the end it will depends on your luck either but atleast it will help you in not to lose more. In order to set up a goal, you cant set a goal with just " only stop at X profit" but you must set up a goal to stop at X loss too.

Nevertheless, A goal doesnt stop a gambler from gambling to keep on gaining more and more. Mark my word for it. You can check on this thread for more proof of my words https://bitcointalk.org/index.php?topic=1052406.0

Basically the OP of the site set a goal of only betting for 0.01 BTC and stop after he get a profit of at least 10% of it but guess what, He cant keep up with his words and thus keep on doubling each of his bankroll

What the hell are you talking about? Setting a goal does increase your chances of winning, you want a 0.01 profit? Bet 0.2 on 95% ta da your chances are 95% of winning your goal.

This has been discussed before and a 0% house edge will be the same, you would still lose whenever you start using a "strategy"

Playing with higher winning chance is also not a guarantee that a player will always get profit.
Do you remember someone who lost 7000btc in 96% winning chance?  
And yes, it depends on "LUCK" as what arallmuss said.

no shit, sherlock. So your point is that playing with 99% doesnt matter because you can have bad luck :^)

The guy who lost 7000 btc in 96% didnt just lose it in 1 bet, he was betting for a long time from i think 2000 btc so yea...

Of course it depends on luck, but 99% is better than 50% isnt it.

[jacktheking]

I remember negative house edge being discussed in another thread. So, I'm not going to talk about this.

No house edge you said? Well, I'm pretty sure both parties will be happy then. The operator can earn from donation or maybe advertisement from his or her site. The user will gamble peacefully as there is no house edge. Well... I'm like others.. There is no peace if you started gambling.

[katerniko1]

no house edge is risky statisticly looking but based on people greed casino would still profit

[a1choi]

i always find these types of threads funny.  Mainly because this situation will always be a hypothetical.  There will be no casino owner that will ever have a house edge of 0% or lower.  NEVER.

They might have it as a promotion for an extremely short amount of time, and very restricted limits on amount of play, but they will never have it long lasting.

That is, if they want to stay in business.

If there are any casinos that boast 0 or negative edges for the house, i'd be wary and would do a lot of due diligence on their trustworthiness.  It would scream scam to me at first glance.

[XinXan]

no house edge is risky statisticly looking but based on people greed casino would still profit

Statistically looking is not risky, is neutral. If you were to bet flat bets (say 0.01) without increasing the bet or the odds, statistically you would end up getting 0 profit, no loss no win. But if you use, lets say, martingale you would end up loosing anyways, statistically you would survive a little bit longer on average compared to a 1% house edge but the difference is not too significative

[katerniko1]

no house edge is risky statisticly looking but based on people greed casino would still profit

Statistically looking is not risky, is neutral. If you were to bet flat bets (say 0.01) without increasing the bet or the odds, statistically you would end up getting 0 profit, no loss no win. But if you use, lets say, martingale you would end up loosing anyways, statistically you would survive a little bit longer on average compared to a 1% house edge but the difference is not too significative

nah its risky becuse you can win or you can lose. there is 50/50 chances. if players are not greedy that casino would be down soon. but people are too greedy what lead that casino to make money

[a1choi]

i don't believe that greediness has anything to do with a casino's profits if they are at 0% house edge.  The house will win some and they will lose some, they will lose as much as they win in the long run.  Someone might be greedy and win, someone might be greedy and they lose.  Someone might not be greedy and win.  Someone might not be greedy and lose.  in the end, they will win as much as they lose.

The thing is that as a casino owner, the fluctuations might be unmanageable and the risk of these fluctuations will be enough to scare them away from offering 0%.

[kotwica666]

Gambling always will be about luck. Someone will win someone loses - it will always be like that 0% or 1% House Edge doesn't change that much.