thx for your JP set up feedback.
lets take your proposal of a JP that hits 1 in 1000 bets. to me this JP would hit much to often and would not allow an attractive JP Prize
lets say player wagers 1000 x 1000 bits with a 1% HE= wager is 1 000 000 bits = app owner and MP/Investors split 1% = 10 000 bits is 5000 bits each side
what should app owner give as a JP prize in case he pays JP like bit exo is doing?
what JP Prize should MP/Investors give?
if each side gives 5000 bits JP Prize they did not earn 1 satoshi
what would be an acceptable JP Prize for this scenario in your opinion?
sure we could do the same for 1 in 10 000 bets chance to hit JP as your 2nd example and we get all numbers x 10
thx again
Oh, ok, I think I'm understanding your confusion now.
Nobody is "giving" anything. The jackpot prize is part of the house edge. It's similar to your lottery game, except instead of the "very large win" being the main prize, it's the secondary prize.
Let's say we play a game and I bet 1000 bits. 50% of the time, I win 500. 49% of the time I lose 1000. 1% of the time, I win 20000. When the 20000 hits, it's not being "given" by anyone, it's being won because it's a component of the game...a game that has a 4% house edge. The house (MP/app owner) outearns the house edge on most bets because on a small % of bets they will pay out a huge number. For example, look at the 20
BTC jackpot bets...there's only a 2% house edge, but the player only wins 1.25% profit 96% of the time.
