What does provably fair exactly mean?

[pereira4]

Let's say a casino offers < 49.5 chances to win, in other words, you have 49.5% possibility to win and the house has 50.5%, how is this called, would this qualify has provably fair, or provably fair means you extrictly need to have better odds than the house? but if this was the case how would this be profitable for the casino owners?

Maybe it means 50/50? (same odds for casino owner to win than for the player)?

Please explain this to me as im just a casual gambler and im not familiar with such terms yet.

[1714172795]

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[1714172795]

1714172795

[mexxer-2]

The term you're looking for here, is not provably fair, but house edge. NLNico has explained provably fair in his site . As for house edge, it is: http://knowyourodds.net.au/house-edge/

[edmundduke]

Let's say a casino offers < 49.5 chances to win, in other words, you have 49.5% possibility to win and the house has 50.5%, how is this called, would this qualify has provably fair, or provably fair means you extrictly need to have better odds than the house? but if this was the case how would this be profitable for the casino owners?

Maybe it means 50/50? (same odds for casino owner to win than for the player)?

Please explain this to me as im just a casual gambler and im not familiar with such terms yet.

The short version:
Provably fair means that that you select the client seed and then you are provided a hash of the servers seed. Then you proceed to make bets. Once you are done you can change the seed and you will be given an unhashed version of the server seed. You can then check all your bets and see that you have not been cheated. The system works because all the bets have been predetermined and there is no way to change them.

What you are describing is HE aka House Edge. This is set in place so the house could stay in action and make profits (server costs, maintenance work and running costs + profit). If it was 50/50 the risk would be too big and the house would most likely bankrupt. (tho anything can happen)

[enhu]

Let's say a casino offers < 49.5 chances to win, in other words, you have 49.5% possibility to win and the house has 50.5%, how is this called, would this qualify has provably fair, or provably fair means you extrictly need to have better odds than the house? but if this was the case how would this be profitable for the casino owners?

Maybe it means 50/50? (same odds for casino owner to win than for the player)?

Please explain this to me as im just a casual gambler and im not familiar with such terms yet.

The short version:
Provably fair means that that you select the client seed and then you are provided a hash of the servers seed. Then you proceed to make bets. Once you are done you can change the seed and you will be given an unhashed version of the server seed. You can then check all your bets and see that you have not been cheated. The system works because all the bets have been predetermined and there is no way to change them.

What you are describing is HE aka House Edge. This is set in place so the house could stay in action and make profits (server costs, maintenance work and running costs + profit). If it was 50/50 the risk would be too big and the house would most likely bankrupt. (tho anything can happen)

I'm entirely lost because of those terms I never understood lol what seed are you talking about. I was expecting an explanation to which a gambler can understood, like I don't understand what unhashed version of the server seed is. what are these client seed and  hash of the servers seed, can we bet these stuff?

isn't provability about how fair the gambling site is and that users can see that there is no way the site admin can manipulate the outcome of the lottery or dice game?

[btc-facebook]

You can check your every bet fairness with using provably checker tool to verify if you're bet are being cheat by dice site or you're pure loss

Let's say a casino offers < 49.5 chances to win, in other words, you have 49.5% possibility to win and the house has 50.5%, how is this called, would this qualify has provably fair, or provably fair means you extrictly need to have better odds than the house? but if this was the case how would this be profitable for the casino owners?
....

That's called house edge. Without HE there will be no casino or gamble site in the world 

[MillionsBTCdev]

Ill try to explain in most understandable way.


Provably fair means that a game/roll/result can be proved to be fair. So how do gambling sites do this? The simplest process is below:

> A game starts, the site generate a random value, they call this "server seed"

> The site then "hashes" this using a "one-way" algorithm like "sha256". Hashes is like a random character that is equivalent to the real server seed value. For example. server_seed is '1943' and the hash of this value is 'aL02'.. So the site will give you 'aL02' and you can use this to prove that the result is fair. We will get to that later on..

> Now the site will ask you for a "client seed". A client seed is a value that is given by the user. The site will use this value together with the server seed value to generate a result. So lets say you gave client seed of '32'

> Lastly, the site will calculate the result. Different sites uses different way to calculate the result. But just for the sake of simplicity, ill make a simple example.
Lets say the formula for the result is this..  result = (server_seed + client_seed) * 0.01 (Note: this is just a example, the way results are calculated are more complex than this).

>So when the result is calculated. 1943+32 = 1975.. then 1975 * 0.01 = 19.75.. So the result is 19.75.

>How do we prove that the result is not tampered?  The site will give you the formula on how the result was calculated. First we take a look at the "server seed". At the start if the game, the site gave you a 'hash' of the 'server seed'(look above) that is 'aL02'.. Now the site will also tell you how the server seed was hashed.. So using that, we try to hash the server seed our selves.

>So the real server seed is '1943'... Using the information given by the site, we hash this value.. the hash value should result to 'aL02'.. if the result is 'aL02' then we know that the server seed was not tampered.

>Now we calculate the result our selves, and the result should come out as 19.75. So, we have "Proven" that the result is what it should be, and the server_seed was not tampered in anyway, therefor, its "Fair"


Note** Again, this is just a simple example, results or rolls are calculated differently and more complex, but the sense of the word "provably fair" is the same.

=========================================

House edge is a different thing.

House edge is the 'advantage' of the site over a player. Most if not all of the gambling sites has a house edge, this is where a site earns.

To explain house edge in a simplest form is this.. example: A site has a 1% house edge.. So if you have 100$ and bet at 50-50 for 100 times.. Theoretically, you'd get back 99$ and the site wins 1$ from you. So like everyone said, The house Always wins in the long run.

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[Bitcoin_Delivery]

Provably fair is intended when a gambling site use cryptography or other methods to prove that every bet is mathematically fair and manipulation free.

[LFC_Bitcoin]

In online gambling provably fair describes an algorithm which can be analyzed and verified for fairness on the part of the service operator. Provably fair algorithms are often used in the operation of an online casino.

[pereira4]

Thanks for replies, I now understand better the important difference between house edge and provably fair. It seems all of the casinos offer provably fair, probably its pointless for a casino owner to not offer this as granted. I want to ask: What are the best house edge rates (more chances to win) out there? how can I know the house edge of a site for example bitcoinvideocasino?

[faince222]

In online gambling provably fair describes an algorithm which can be analyzed and verified for fairness on the part of the service operator. Provably fair algorithms are often used in the operation of an online casino.

It means that a casinò use provably fair to show you that it is honest and don't want to cheat you.

[blackmachinegun]

if there provably fair in sports gambling ?
I usually indifferent about provably fair and I don't care about it, I usually direct play 
but it seems I have to learn it before playing

[RHavar]

if there provably fair in sports gambling ?

For all intents and purpose, all sports gambling is already provably fair.

Provably fair doesn't mean you can't get cheated, it just means that if you get cheated you can tell. Obviously you can't tell if a sports match was fixed or not, but you can easily tell if the casino paid you what they should've.

[adaseb]

Yes what others said is correct.

Provably fair has nothing to do with the odds. Provably fair is a crypto method developed so we have a sense that we are not cheated.

As long as you refresh your client seed, it would be very very difficult for the casino to cheat you.

[poplolnman]

Let's say a casino offers < 49.5 chances to win, in other words, you have 49.5% possibility to win and the house has 50.5%, how is this called, would this qualify has provably fair, or provably fair means you extrictly need to have better odds than the house? but if this was the case how would this be profitable for the casino owners?

Maybe it means 50/50? (same odds for casino owner to win than for the player)?

Please explain this to me as im just a casual gambler and im not familiar with such terms yet.

The short version:
Provably fair means that that you select the client seed and then you are provided a hash of the servers seed. Then you proceed to make bets. Once you are done you can change the seed and you will be given an unhashed version of the server seed. You can then check all your bets and see that you have not been cheated. The system works because all the bets have been predetermined and there is no way to change them.

What you are describing is HE aka House Edge. This is set in place so the house could stay in action and make profits (server costs, maintenance work and running costs + profit). If it was 50/50 the risk would be too big and the house would most likely bankrupt. (tho anything can happen)

i recommend people to read this edmundduke post above , his short explanation are newbie friendly and easy to understood.
just one thing , common people will confused about what it's a server seed. can you provide some analogy with that server seed? i mean with easy language.

[shanem]

Provably fair means the gambling result is not rigged and is determined by the 'client seed'. You can verify your bet afterwards so that this type of bet is fair as there is no chance a gambling site can fix the result.

[mobnepal]

Provabily fair means that the upcoming result of every roll you are going to roll or anything you bet on is already calculated so there will be no manipulation of result from site server side or result depend on your luck and odd rather than your betting tactics and strategy.

[BitMaxz]

for me provably fair means? not cheating and also equal for winning chance means 50/50 chance of lose or win.
But i think some gambling site is not provably fair and house is always win...

[Cccombobreaker]

There is this great new invention called a search engine you should check out this one called google.com

[shadows123]

Provably fair mean that u can verify ur roll result to make sure the house not cheated u

[lethalethereal]

all they answer is correct
im also not familiar with provably means