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Author Topic: Record House Edge -3.7212 %, Best Paying Bitcoin Roulette Table  (Read 1451 times)
SRoulette
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February 18, 2013, 03:43:25 AM
 #1

http://satoshiroulette.com/



We have hit our record edge for roulette since our site update.
With Max Bets on single numbers having a negative house edge of 2.3382 % and other bets fast approaching 0% house edge this jackpot will not last long.

edit: The jackpot was not collected last weekend resulting in an even LOWER house edge Cheesy

The jackpot is collected by any maximum bet that lands the ball on 0.

update:
-3.7212 %
-3.6955 %
-3.6442 %
-3.5902 %

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February 18, 2013, 03:56:41 AM
 #2

Nice, still high variance through

TradeFortress has left me negative trust and has provided no proof to substantiate his claim. He has done this to discredit me as I am investigating him.
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February 18, 2013, 03:58:36 AM
 #3

Nice, still high variance through

Thanks Cheesy
Its gets lower the more players we have due to the nature of the progressive jackpot Smiley

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February 18, 2013, 04:53:37 AM
 #4

Thanks to our most recent player, the house edge is even lower:




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February 18, 2013, 06:18:31 AM
 #5

I've never paid much attention to your roulette game, but just took a look now.

I'm confused by this:

"We uses UK payouts as seen on Wikipedia."
and how it relates to this:
"Average House Edge:
Below Max Bet: 2.7%
Max Bet Evens: 2.21%"

According to the wikipedia page you link to:

Quote
In the UK, all bets have the same play to payout ratio; for instance, putting one chip on each number 1-12 will yield the same outcome as 12 chips on the first dozen (assuming the original stake is removed). The exception is the very outside bets (red/black, odd/even, low numbers/high numbers) when zero is the result only half of the original stake is captured by the dealer.

That suggests to me that the house edge for 'evens' bets is 0.5/37 = 1.35%, yet you state it as 2.21%.

Can you explain the discrepancy?

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February 18, 2013, 06:27:24 AM
 #6

I've never paid much attention to your roulette game, but just took a look now.

I'm confused by this:

"We uses UK payouts as seen on Wikipedia."
and how it relates to this:
"Average House Edge:
Below Max Bet: 2.7%
Max Bet Evens: 2.21%"

According to the wikipedia page you link to:

Quote
In the UK, all bets have the same play to payout ratio; for instance, putting one chip on each number 1-12 will yield the same outcome as 12 chips on the first dozen (assuming the original stake is removed). The exception is the very outside bets (red/black, odd/even, low numbers/high numbers) when zero is the result only half of the original stake is captured by the dealer.

That suggests to me that the house edge for 'evens' bets is 0.5/37 = 1.35%, yet you state it as 2.21%.

Can you explain the discrepancy?

yes Smiley I will get code monkey to type of the maths for me but in short.

Every loss donates the same percentage but for each bet there may be more or less losing numbers thus increasing the amount donated per round. This is why Rows have a lower house edge when compared to even bets.

Rows have 25 losing numbers which donate 0.95% each.
Evens (ie red and black) have 13 losing numbers which donate 0.95% each.

SRoulette
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February 18, 2013, 06:37:08 AM
 #7



Cheesy creeping closer and closer to all negatives Cheesy

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February 18, 2013, 06:38:47 AM
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Every loss donates the same percentage but for each bet there may be more or less losing numbers thus increasing the amount donated per round. This is why Rows have a lower house edge when compared to even bets.

Rows have 25 losing numbers which donate 0.95% each.
Evens (ie red and black) have 13 losing numbers which donate 0.95% each.

OK, but the problem is that even with a progressive pot, your odds (2.21% edge) are worse than they should be even for a game with no progressive pot (1.35% edge).

Could it be that you don't give red/black players half their bet back when they spin a zero?  If so, you shouldn't claim to use "UK Payouts".

See also http://www.thegoodgamblingguide.co.uk/casino/casinohouseedge.htm which says:

Quote
Roulette of the sort played in British casinos allows for the player to place 'Even Chance' bets. They are High, Low, Red, Black, Odd and Even. As zero is green and none of these, then none of these bets is paid out as a winner when zero comes up. However the player gets to retain half of their bet. This brings the house edge down to around 1.35%.

So I guess you need to clarify.  Do you not use UK payouts, or is the real house edge lower than you claim for evens bets?

Edit: I think I found my answer:



It says there that zero pays out 0.

Also, look how long it took to make that page!



Edit2: I just noticed this bit: "Evens (ie red and black) have 13 losing numbers which donate 0.95% each."

You probably meant 19, not 13 right?

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February 18, 2013, 06:52:34 AM
 #9

So I guess you need to clarify.  Do you not use UK payouts, or is the real house edge lower than you claim for evens bets?

lol, I think that comment down the bottom is incorrect, I will get that cleaned up Smiley
And I do believe you just educated us on 1 of the finer points of roulette.

To clarify currently we use UK payouts as described on the wikipedia page BUT do not payout 1/2 the wager for even bets where the ball lands on 0.

So the house edge is as advertised, our engines maths should not lie.
I shall tweak the game rules soon to make zero payout as you described. You are the first person to comment on this, thanks for the useful feedback Dooglus, we bow to your superior gambling knowledge Cheesy

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February 18, 2013, 07:07:26 AM
 #10

MILESTONE REACHED:



All max bets on the roulette table are currently negative.

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February 18, 2013, 08:57:16 AM
 #11

You are the first person to comment on this, thanks for the useful feedback Dooglus, we bow to your superior gambling knowledge Cheesy

To be honest I hadn't heard of "UK Payouts" until I saw it mentioned on your site and followed the link you provided that explains it...

SRoulette
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February 18, 2013, 09:13:01 AM
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You are the first person to comment on this, thanks for the useful feedback Dooglus, we bow to your superior gambling knowledge Cheesy

To be honest I hadn't heard of "UK Payouts" until I saw it mentioned on your site and followed the link you provided that explains it...

We that makes us feel a bit better Cheesy



I will finish work shortly and if codemonkey has not updated the game mappings I will do so shortly.

Thanks to all our new customers Cheesy

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February 18, 2013, 11:38:44 AM
 #13

That suggests to me that the house edge for 'evens' bets is 0.5/37 = 1.35%, yet you state it as 2.21%.

Looking into this now Dooglus, we are running monkey is running simulations currently to check if we can safely run with our current numbers.
Its an interesting rule which we had not encountered before, but now we appreciate the euro roulette tables appeal, still no competition for a good craps table on house edge Smiley

Something monkey suggested is we could increase the donation % for even bets to bring the average house edge down to 1.8%, the only issue I have is to much information, ie multiple donations clutters the display. Just thinking out loud here, but I would appreciate any feedback you or anyone can offer.

Thanks again.

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February 18, 2013, 09:38:35 PM
 #14

Whoa, I should have played my coins here instead of satoshiDICE!

TradeFortress has left me negative trust and has provided no proof to substantiate his claim. He has done this to discredit me as I am investigating him.
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February 19, 2013, 12:55:07 AM
 #15

Whoa, I should have played my coins here instead of satoshiDICE!

Cheesy

We do offer better payouts and a better house edge on our Satoshi Dice inspired game:
Bitcoin Jackpot Dice



About to hit our second milestone, a 1 btc jackpot on Roulette Cheesy

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February 19, 2013, 02:05:41 AM
 #16

Whoa, I should have played my coins here instead of satoshiDICE!

Cheesy

We do offer better payouts and a better house edge on our Satoshi Dice inspired game:
Bitcoin Jackpot Dice



About to hit our second milestone, a 1 btc jackpot on Roulette Cheesy
That's nice but I'm more of a high roller Grin

TradeFortress has left me negative trust and has provided no proof to substantiate his claim. He has done this to discredit me as I am investigating him.
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February 19, 2013, 02:37:59 AM
 #17

That's nice but I'm more of a high roller Grin

In time perhaps our site will grow to support the larger bet ranges Smiley

The upshot of having a 1 btc cap is that the jackpot is accessible for most people if not all, were we to add a max bet of 250 the jackpot would be out of reach for all but a few players.

Who knows, maybe our roulette jackpot gets to 10 bitcoin, perhaps then you will be temped :3

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February 19, 2013, 06:23:53 AM
 #18

After extensive simulations we will not be adding the 1/2 bet payout for when even outside bets land on 0.

The reason being is we would have to shrink the jackpot donation significantly, instead we will increase the jackpot donation to ensure the jackpot is built quicker.

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February 20, 2013, 03:04:09 AM
 #19

Milestone hit, over 1 btc Cheesy

Jackpot: 1.0127 BTC

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February 22, 2013, 05:06:11 AM
 #20



A new weekend approaches and the jackpot remains !

Come enjoy the best odds roulette table in the world (while it lasts).

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