What do you think about Casino with 0% Edge?

[EdenHazard]

I don't think it's practical because the casinos need to make their money and offset their bills and staff salaries so with a 0% house edge it's just unfair and unrealistic for them to survive in business.

yes that is right that it can not be possible and I do  not think that any Casino can continue wit 0% edge for a long time. they must change their policy if they want to survive for a long time. because most of the casinos run on their hose edge and if they are not have any hose edge then they may not be able to continue surviving for a long time and very soon they will become bankrupt and will close their casino because of their continuous lost.

you guys need to completely understand about what actually house edge means and how it really works before join more serious discussion , i myself don't fully understand yet about that , the only i know that the house edge are thing that give casino profit and it is unseen.

0% house edge works only on a player vs player game and the casino take fee as their profit .

The good question before discussing this topic first we must know what is the 0% house edge means. It means the house will not come in between two players you people will play with betting some amount and the house will take care of that bet so that they will charge some percentage of overall bet amount. This is what I understood if it is wrong, please clarify this. Thank you.

nahhh you have an easy to understand words , thanks for elaborate a little about this. so basically the casino have profit from taking fee per bet that have been made right? and it is not based on the total bets placed , but more to percentage to make it fair.

the only problem are there is lack of interest casinos doing this concept.

[bhadz]

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

[coinplus]

I don't think it's practical because the casinos need to make their money and offset their bills and staff salaries so with a 0% house edge it's just unfair and unrealistic for them to survive in business.

yes that is right that it can not be possible and I do  not think that any Casino can continue wit 0% edge for a long time. they must change their policy if they want to survive for a long time. because most of the casinos run on their hose edge and if they are not have any hose edge then they may not be able to continue surviving for a long time and very soon they will become bankrupt and will close their casino because of their continuous lost.

I agree with you but that no edge casino may happen as a promotional offer and maybe to VIP members they can give a truly low or no edge.

Sites are already giving lot's of features like rakeback or loss back and it won't be a disaster if they allow no edge for high leveled members or maybe for those who want to enjoy no edge gambling, there can be a PvP game, side wise the site would have normal dice.

[michkima]

I don't think it's practical because the casinos need to make their money and offset their bills and staff salaries so with a 0% house edge it's just unfair and unrealistic for them to survive in business.

yes that is right that it can not be possible and I do  not think that any Casino can continue wit 0% edge for a long time. they must change their policy if they want to survive for a long time. because most of the casinos run on their hose edge and if they are not have any hose edge then they may not be able to continue surviving for a long time and very soon they will become bankrupt and will close their casino because of their continuous lost.

I agree with you but that no edge casino may happen as a promotional offer and maybe to VIP members they can give a truly low or no edge.

Sites are already giving lot's of features like rakeback or loss back and it won't be a disaster if they allow no edge for high leveled members or maybe for those who want to enjoy no edge gambling, there can be a PvP game, side wise the site would have normal dice.

Wrong. Edgeless casinos does not mean they will not win in the long run. Statistically, house edge gives the house that edge over the player. Meaning an infinite number of games will result that the casino will win against the gamblers. But being edgeless, means that the house has no advantage over the players. This does not mean the players will win against the casino. This just means that an infinite number of games, the score will be equal if there is no restriction against the amount of bet for the gambler.

Statistically speaking, in an edgeless casino there is still a chance the gambler can lose 100 times in a row. It does not mean the casino was cheating, it just means that there is that chance though it might be small.

[Catmony]

I don't think any casino can make good amount of money with 0% house edge, it will make them unstable because if someone got lucky enough to win max win they have multiple times they will get bankrupt. House edge insures that there will be some money taken from every bet to cover all the operating cost.

[el kaka22]

It sound great for the gambler if that site is legit, but I doubt casino with zero house edge can play fair and how will a casino will survive with zero edge, so no I wont play in the casino that has zero edge, it just sound not right

Yes, indeed and the maintenance cost and the developing of game would be gone from the pocket of the casino owner. I believe there is one way to do this though, by placing a lot of ads and trying to earn via those, though google adsense does not allow gambling sites for their ads.
This way maybe the casino can earn something while considering the game as a charity for people and rather than house they might introduce a player vs player game to disallow any loss.

[NorrisK]

One way a casino can still profit this way is from mistakes the gamblers make.

If they win some small bets and then decide to bet big and lose, that can still turn into a profit for the casino.

Otherwise I'm not sure about the business model here.

[ethereumhunter]

I don't think any casino can make good amount of money with 0% house edge, it will make them unstable because if someone got lucky enough to win max win they have multiple times they will get bankrupt. House edge insures that there will be some money taken from every bet to cover all the operating cost.

this is what i am thinking too, because i think how they can operate the site if there are 0% house edge and how long their site will still online? this is a big question from me but if this is really happen, then i am curious with the site and i want to see until when they can cover the operating cost.

[wahb]

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

[Kevin77]

It sound great for the gambler if that site is legit, but I doubt casino with zero house edge can play fair and how will a casino will survive with zero edge, so no I wont play in the casino that has zero edge, it just sound not right

I think they definitely can. The reason is that gamblers usually keep playing till either they win big or bust. Even at 0% house edge, I am sure things can sway to casino's side where they would eventually win the same amount.

That is a fair point and no one looses only the edge worth. I mean show me a gambler who has gambled one bitcoins and has only lost 0.01, usually we lose much more and we try to go for the glory hit and we loose.

In fact, I remember there have been giveaways by primedice and many others where the house edge was technically positive yet people lost which is normal too. It might mean the dangers of gambling will continue regardless of whether we will be having a normal house edge or zero house edge.

[gabmen]

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

Well there are these casinos also that doesn't pit you against the house. Poker tournaments moat likely won't have any house edges because you're not playing against the casino itself but with other poker players. You basically earn from beating real people and your earnings come from them

[FrueGreads]

Although it looks like it is pointless to create such casino, with 0% Edge, I think apart from what I mentioned before, earning money from ads on the site, there is another possibility for such site to be created. Imagine you are a poker player and you have many friends who are like you. You are fed up with giving your money to poker sites and you create a site of your own, for you and for your friends to play.

You could be tired of giving money to poker sites, although the rake is not that big, and you do have a lot of tournaments with added money, and freerolls etc, so I don't think you really need to feel that way. Anyway, if you are tired of doing that, you could just end up playing live with friends, I don't think you can create a poker site on your own just like that because you need a lot of money for promotions, you need to be legal etc. It's quite hard to create a good gambling site in my opinion.

[Forumgeiq]

Although it looks like it is pointless to create such casino, with 0% Edge, I think apart from what I mentioned before, earning money from ads on the site, there is another possibility for such site to be created. Imagine you are a poker player and you have many friends who are like you. You are fed up with giving your money to poker sites and you create a site of your own, for you and for your friends to play.

I believe the OP talks about Edgless, an edgeless casino project on Ethereum. They had their ICO back in March and have been developing since than. Even with %0 Edge casino still can earn through the profits. Read the Edgeless whitepaper. It's pretty mathematical actually.

This is from the Edgeless FAQ:

Casino profits and 0% (0.83% in practise) house edge concept.

There are several ways how Edgeless Casino can be profitable. Edgeless Casino provides games which depend on LUCK+SKILL and Sports Betting.

The first two games provided will be Blackjack and Video Poker. Both games are played with a combination of LUCK and SKILL. That means players make choices and either play well or poorly. To give an example of such a situation:

Blackjack: 
House has a 6 card. 
The player has 16. 
The player wants to collect at least 17 and hits for one more card. - BAD MISTAKE. 
The player just made a huge error, because, 12+ against 6 ALWAYS STAYS. (according to Blackjack basic strategy)

An average player does not play ‘the perfect game’ therefore, in the long run the casino makes a profit from his mistakes. 

An analogy can be taken from poker. A new player is playing against a Pro. Both have equal probability conditions - 50% vs. 50%. However, the Pro player makes better choices and the new player makes bad decisions, and in the long run, the Pro wins.

Look at this EXTENSIVE RESEARCH  from players’ mistakes in Blackjack - on average they give away an 0.83% edge to the casino. https://wizardofodds.com/image/ask-the-wizard/how-poor-are-bj-players.pdf

And that's exactly what the casino will earn - 0.83% which is the same as playing dice with an 0.83% house edge

The second stream of profit comes from sports betting. Sports Betting connects bettors against each other, charging vig / juice / rake from each side for their bets. In this area, the casino will earn 4% from all money wagered. An analogy can again be taken from poker. Imagine two players are betting 10$ against each other and the rake is 1%. So, they are actually betting 9.90$ and winner gets 19.80$. 

More information on how sports betting is making money: 
http://www.biasharainsight.com/2016/01/how-do-sport-betting-sites-make-money/

To sum up - the first stream of profits is from games of luck+skill. The second stream of profits is from Edgeless casino with 0% edge games and is a very strong marketing channel for attracting players to Edgeless Casino. Gamblers can enjoy fair betting conditions, and a good percentage of visitors will do Sports Betting which generates 4% returns to the Casino.

The concept has not literally come out of the blue - discussions on zero edge casinos are already occurring in the community.

https://www.bitedge.co/blog/0-house-edge-provably-fair-and-trustless-gambling/

https://www.reddit.com/r/BitcoinGambling/comments/36z3
wi/which_is_the_lowest_house_edge_fair_bitcoin_casino/

[Termin4tor]

Edgeless will be 0%edge,house,currenty blackjack is in beta,you can try without spending real money.There is also work on dice,it will be decentralised casino builded on eth chain,than video poker will be under development

I doubt a casino like this would be ever successful for the owners. Sure, the players will definitely enjoy the 0 edge policy but don't you think this is a foolish idea that can instantly drain the bankroll of a casino site?

[just_Alice]

Although it looks like it is pointless to create such casino, with 0% Edge, I think apart from what I mentioned before, earning money from ads on the site, there is another possibility for such site to be created. Imagine you are a poker player and you have many friends who are like you. You are fed up with giving your money to poker sites and you create a site of your own, for you and for your friends to play.

You could be tired of giving money to poker sites, although the rake is not that big, and you do have a lot of tournaments with added money, and freerolls etc, so I don't think you really need to feel that way. Anyway, if you are tired of doing that, you could just end up playing live with friends, I don't think you can create a poker site on your own just like that because you need a lot of money for promotions, you need to be legal etc. It's quite hard to create a good gambling site in my opinion.

But you don't need to promote the site if it's for your friends only and I think same goes for legality. Yes, it's quite hard to create a good gambling site but you can create a simple one and this will cost you much less. Playing live with your friends is possible only if you live in the same town, otherwise you need a site to play on.

[tigershark]

I just found out about this project of Casino that will be opened and it has 0% Edge and I just thought, seriously, why we pay an edge in online Casinos?

I mean in Traditional Casino they need this Edge money for all the environment and all the feeling, a lot of employees and all the little things they give to us but in Online Casino, we don't get this, so why we need to pay? For them to be rich? Just this idea really annoys me.

I really hope this project will work out!

For a game like dice, if the house doesn't have an edge, then they can't make money. In that situation, the gamblers and the house have the same odds and over time the winnings will be equal so no gain for either. Maybe they could charge a fee to join the site or to fund your account but they are going to want a way to make some profit.

[maydna]

I just found out about this project of Casino that will be opened and it has 0% Edge and I just thought, seriously, why we pay an edge in online Casinos?

I mean in Traditional Casino they need this Edge money for all the environment and all the feeling, a lot of employees and all the little things they give to us but in Online Casino, we don't get this, so why we need to pay? For them to be rich? Just this idea really annoys me.

I really hope this project will work out!

For a game like dice, if the house doesn't have an edge, then they can't make money. In that situation, the gamblers and the house have the same odds and over time the winnings will be equal so no gain for either. Maybe they could charge a fee to join the site or to fund your account but they are going to want a way to make some profit.

maybe not just for dice game, but in almost all games they can not make money, because they need to thinking about how to pay their maintenance fee, especially if they have employee to manage the site. maybe in out there, there is a casino that really have 0% edge but i don't know how long they can still online and giving a good service for the members. i wonder how they can take their profit if they do this and from where they can paid the prizes if their members has win.

[tabas]

I don't think any casino can make good amount of money with 0% house edge, it will make them unstable because if someone got lucky enough to win max win they have multiple times they will get bankrupt. House edge insures that there will be some money taken from every bet to cover all the operating cost.

There's no way for them to make money for their operation if they don't have edge or if they will boast their casino through 0% edge casino. There's no way to sustain their casino and even they will get a lot of players that is still not enough for the whole operation cost.

[bhadz]

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

It's for real, think about on how they can keep on operating if they are going to offer free service or 0% house edge. That's in the favor of the gamblers but their players aren't going to agree with this type of casino operation. Because a gambler will secure that a casino can support and has a proof of earning for their gamblers.

[michkima]

0% edge casino? Hmm that will die on it's early stage of operation. And I know that casino's will not do this, maybe they can do this but they are going to do something or charge every service they do on higher amount. But gamblers are wise now and they won't rely on this type of casino if there's no way to support it's operation.

yes that is right that they cannot survive for a long time. because casino runs on house edge. they can maintain their position if they are receiving their house edge, i think in one condition they can continue to run a casino and that is that if they have some other source of income and they are financing the casino from there. but i think no one will like to run a casino for free if he do not have any income from that. and they will surely close it.

It's for real, think about on how they can keep on operating if they are going to offer free service or 0% house edge. That's in the favor of the gamblers but their players aren't going to agree with this type of casino operation. Because a gambler will secure that a casino can support and has a proof of earning for their gamblers.

Just to clear this up. 0% house edge does not mean the casino will not survive and will not profit. The only thing here is that the playing field is leveled both for the players and the casino. But that doesn't mean the gamblers will win more than the casino. If you think about it, the players still don't have unlimited bankroll and there is still bet limits. So a martin gale system will still fail in the long run. Even at 0% house edge, gamblers can still experience a 20 times losing streak and when that happens that's when 0% house edge casinos profit.