Provably fair dice - real or bulshit ?

[shield132]

What "fair" refers to, is that you when you win you actually win, and they don't tamper with the odds. Not that they have "fair odds". That's why if you bet at 2x, you have a 49.5% chance of winning, not a 50% chance. That's how they make their money.

For those who will search or create such threads, this is the best answer to your question. Everything is mathematically simple: Casino has better chance of win and that's why you lose, haven't you ever seen 49.5 win rate? Do you think that 0.5% means nothing? Sorry but mathematically that means a lot and when you consider gambling in long run, this especially increases your chance of lose. So play for fun and not for profit.

[1714611804]

1714611804

[romero121]

What "fair" refers to, is that you when you win you actually win, and they don't tamper with the odds. Not that they have "fair odds". That's why if you bet at 2x, you have a 49.5% chance of winning, not a 50% chance. That's how they make their money.

For those who will search or create such threads, this is the best answer to your question. Everything is mathematically simple: Casino has better chance of win and that's why you lose, haven't you ever seen 49.5 win rate? Do you think that 0.5% means nothing? Sorry but mathematically that means a lot and when you consider gambling in long run, this especially increases your chance of lose. So play for fun and not for profit.

That's a clear statement on the term provably fair used on each and every dice site in specific.

1. Everything is over mathematical scripts, in those technical aspect what we see is provably fair.
2. House edge is the next thing, very few get to win while the statement is 1% house edge.
3. Whatever might be the fact, greed is the reason for loses unlike the script being provably fair.
4. Sites give different explanation for being provably fair, we need to decide how to spend.

[shoreno]

What "fair" refers to, is that you when you win you actually win, and they don't tamper with the odds. Not that they have "fair odds". That's why if you bet at 2x, you have a 49.5% chance of winning, not a 50% chance. That's how they make their money.

Exactly, I think most gamblers misunderstood it to be like that, most of betting sites is provably fair but doesn’t mean they have fair odds, besides they create it to make money this will ensure that the odds is always on their side.

what do you call Fair Odds? please explain, thanks

Odds means the probability of winning and fair odds means that what they state is real or what you see is what you get , let say the odds is 49.50 % and you can double your profit if you win  . that means you can get 120 btc if you bet 60 btc and if you set the odds to 49.50 %    . is that clear to you ?   Provably fair is real and its not b.s as long as you are playing on a legit gambling site 

[Lakai01]

A good friend of mine works for a company which develops software for casinos, also very well known ones. There is nothing "fair", algorithms are always favouring the casino, sometimes obviously (2x brings a chance of 49.5% instead of 50% eg.), sometimes not: Their software contains logic, that jackpots arent triggered as often as they stastically should for example.