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[Dr.Bitcoin_Strange]

You do realize that house edge and winning % are 2 different stories, right?
House edge has nothing to do with how many games you win or lose, it is strickly a profit/loss in $ number because of the house advantage.
Your chance to win at BJ are at around 42% and the house winning is at 49%. The rest is for draw. Do your calculation again with those numbers. 

I wanted to ask, where do you see the house edeg and winning percentage segregation for each game on the casino? Or do you just get it by the the equation of HE=100-RTP%?

[BlackyJacky]

You do realize that house edge and winning % are 2 different stories, right?

Yes, temporarily it is not the same.

So the house edge could be 0,5% and your experienced winning % could be 5 or even 10%.

Or the house edge could be 0,5% and your experienced winning % could be - 5 or even - 10%.

But longterm, the house edge and the winning percentage is the same if you placed always the same bet amount.

So if you made 1 million bets at a 0,5% house edge, then your winning percentage will be - 0,5% of the total amount wagered.

House edge has nothing to do with how many games you win or lose, it is strickly a profit/loss in $ number because of the house advantage.

In case of Black Jack, the house edge is exactly how many bets you will lose per 100 bets.

So if the house edge is 0,5% I will lose a half bet per 100 bets placed.

However, according to my bets statistics, I have lost 4,5 bets per 100 bets = 9 times more like I should have.

Your chance to win at BJ are at around 42% and the house winning is at 49%. The rest is for draw. Do your calculation again with those numbers.  

The part you missed is that the difference between the 42% chance to win a hand the 49% chance to lose a hand = 7% is not the house edge, because I have the options to split and double in favorable situations and Black Jack pays 1,5 to 1.

So playing the hands with the optimal drawing, splitting and doubling strategy and Black Jack pays 1,5 to 1, the house edge drops to 0,5%.

This 0,5% house edge is also what Stake advertises.

[fullhdpixel]

You do realize that house edge and winning % are 2 different stories, right?
House edge has nothing to do with how many games you win or lose, it is strickly a profit/loss in $ number because of the house advantage.
Your chance to win at BJ are at around 42% and the house winning is at 49%. The rest is for draw. Do your calculation again with those numbers. 

That is exactly why it is not easy to make a living off gambling, or hope for a win or an income with it. I mean if the house has a higher chance to win, then it doesn't make sense for me to keep gambling on it, I may end up losing more and more to it. I think the reality is that we are talking about something that will take a while, and I do not think that it would make any sense at all, it would be quite terrible if we just kept on gambling thinking that we have a winning chance, when the house has a higher winning chance.

The only good thing is that they are putting up the money, meaning if you lose, then they win, but if you win then they lose. So, they are trusting their system to be right most of the time, and you could be the exception at a rare case.

[imamusma]

You do realize that house edge and winning % are 2 different stories, right?
House edge has nothing to do with how many games you win or lose, it is strickly a profit/loss in $ number because of the house advantage.
Your chance to win at BJ are at around 42% and the house winning is at 49%. The rest is for draw. Do your calculation again with those numbers. 

That is exactly why it is not easy to make a living off gambling, or hope for a win or an income with it. I mean if the house has a higher chance to win, then it doesn't make sense for me to keep gambling on it, I may end up losing more and more to it. I think the reality is that we are talking about something that will take a while, and I do not think that it would make any sense at all, it would be quite terrible if we just kept on gambling thinking that we have a winning chance, when the house has a higher winning chance.

The only good thing is that they are putting up the money, meaning if you lose, then they win, but if you win then they lose. So, they are trusting their system to be right most of the time, and you could be the exception at a rare case.

Gambling is not intended as a place that makes the most money for gamblers, meaning that every gambler will likely bear the cause and effect as a risk. Winning and losing should be considered a normal part of gambling, so they should have the right mindset to understand how the gambling industry works. They can certainly hope to get entertainment from gambling, winning money is a bonus, while losing is a consequence. At any casino, they will warn you not to gamble beyond your financial means. That means there are risks that must be considered wisely so as not to suffer major financial losses.

[Symphonized]

[$3,000] Royal Club of Originals Week 89|HiLo♣️



Win a bet on the Hilo game (Stake originals) with a minimum 100x multiplier.

0.03 USD minimum bet amount (in any currency).

Giveaway's Topic: https://stakecommunity.com/topic/96779-%F0%9F%92%B03000-royal-club-of-originals-week-89hilo%E2%99%A3%EF%B8%8F/

[arallmuus]

So have any of you try tournaments on Stake Poker? they added a regularbuy-in tournament in addition to the frequent freerolls



Look at this though   

I mean they are pretty generous with the freerolls but when it comes to the real deal, they are pretty lowball on it. Prizepool is literally like 10x from buy-in fee and on average they get like 50+ players on their tournaments. Some of the budgets from freerolls should be put in these tournaments though

[Bitinity]

So have any of you try tournaments on Stake Poker? they added a regularbuy-in tournament in addition to the frequent freerolls



Look at this though   

I mean they are pretty generous with the freerolls but when it comes to the real deal, they are pretty lowball on it. Prizepool is literally like 10x from buy-in fee and on average they get like 50+ players on their tournaments. Some of the budgets from freerolls should be put in these tournaments though

I'm not quite sure about the prizepool but if we look at the completed similar buy in tournament (the same $25+$2.5 buy in), the prizepool was more than $1000. This makes me think that the prize is not fixed (just in case if these are the same tournament) or in other word the prize is increased based on the number of total participants. On this below image, we can also see the lower buy-in fee (10+1) with total prize $1440.



Maybe we can wait until there are more registered players in the tournament to see if there will be a change on the prizepool or not.

[ryzaadit]

-snip-

Yes, but not tried it yet.

I think, what we want just a normal cash game without a tournament system. I also want to tried cash game, and perhaps getting some profit from my first time cash game the problem while playing a tournament we must play until the end ~XD Still waiting for the regular cash game, to tired for playing a typical tournament poker but if you want to get the good prize with small entry.

Tournament it's always good.

[Transparency1982]

With Roulette, the win chance is 50% due to the presence of the 0, so the payout is 2. With Dice on stake.com, if the win chance is 50%, the payout is only 1.98. Is the 1.98 low because the Dice can still land on the exact number 50 (similar to the 0 in Roulette)?

[arallmuus]

-snip

I'm not quite sure about the prizepool but if we look at the completed similar buy in tournament (the same $25+$2.5 buy in), the prizepool was more than $1000.

'Prizepool' huh, that was dumb of me to use that word

What I meant was the guaranteed amount/guaranteed prizepool, well second thought actually its the same

This makes me think that the prize is not fixed (just in case if these are the same tournament) or in other word the prize is increased based on the number of total participants. On this below image, we can also see the lower buy-in fee (10+1) with total prize $1440.

There isnt any fixed amount for the overall prizepool but in poker tournament, house takes fees and the rest goes to the prizepool until late registration ends



Take this as an example, the buy-in for the tournament is $25+2.5

So anytime a player register for the tournament, $25 goes to the prizepool while the house collect $2.5. So if there is an extra of 1000 players that register after, that means an extra of $25000 on top

What I meant was the guaranteed prizepool provided by Stake, this guaranteed prizepool guarantee the prizepool will stays the same no matter how many people register on the tournament.

In this case its $250 ( image on my previous post ) literally only 10 players needed to register for Stake to break even and collect all those extra tournaments fees. Lowball imo when they could provide all those $1000 freerools for leechers but cant provide decent guaranteed amount for tournaments

[Mahdirakib]

With Roulette, the win chance is 50% due to the presence of the 0, so the payout is 2. With Dice on stake.com, if the win chance is 50%, the payout is only 1.98. Is the 1.98 low because the Dice can still land on the exact number 50 (similar to the 0 in Roulette)?

Roulette and Dice game concepts are completely different. The 0 is a special payout number on the roulette game. But you will loss your bet if you roll the number 50.00 on 1.98× payout (50% win chance) in the dice game. This is because of the difference of house edge concept of both games.

BTW, I had participated in some freeroll poker tournaments of Stake until now. And I have managed to win prizes from only one tournament, I had ended with 83rd rank and received $1.5 as reward.

[Bitinity]

----

Get your point now and yes the guaranteed prizepool looks low if we compare it to the Grand Slam freeroll but if we compare it to other buy-in tournament at other poker sites, I think Stake is better because the prize in most other buy-in tournament will be based on the total buy-in from the registered players. Maybe they can split what they spend for the freeroll to be added on the guaranteed prize for the buy-in tournament. For example, they are currently spending $4,000 per day for the freeroll, maybe they can remove 2 freerolls and spend the prize ($2000) for the buy-in tournaments. Or it will be even better if they spend more money to be added on the guaranteed prize for the buy-in tournament.

[AHOYBRAUSE]

-snip

I'm not quite sure about the prizepool but if we look at the completed similar buy in tournament (the same $25+$2.5 buy in), the prizepool was more than $1000.

'Prizepool' huh, that was dumb of me to use that word

What I meant was the guaranteed amount/guaranteed prizepool, well second thought actually its the same

This makes me think that the prize is not fixed (just in case if these are the same tournament) or in other word the prize is increased based on the number of total participants. On this below image, we can also see the lower buy-in fee (10+1) with total prize $1440.

There isnt any fixed amount for the overall prizepool but in poker tournament, house takes fees and the rest goes to the prizepool until late registration ends



Take this as an example, the buy-in for the tournament is $25+2.5

So anytime a player register for the tournament, $25 goes to the prizepool while the house collect $2.5. So if there is an extra of 1000 players that register after, that means an extra of $25000 on top

What I meant was the guaranteed prizepool provided by Stake, this guaranteed prizepool guarantee prizepool will stays the same no matter how many people register on the tournament.the

In this case its $250 ( image on my previous post ) literally only 10 players needed to register for Stake to break even and collect all those extra tournaments fees. Lowball imo when they could provide all those $1000 freerools for leechers but cant provide decent guaranteed amount for tournaments

Dude, you should rephrase your stuff. Otherwise it seems like you have no experience with poker and how guaranteed price pool works.
The "guarantee" only matters if there are not enough players registered to reach it.
If the price pool is quaranteed 100$ with a 10$+1$ buyin it means if 2-10 players register, the price pool will be 100$. If 11 players register it's 110$, if 20 it will be 200$ and so on.
So stating "prizepool will stays the same no matter how many people register on the tournament" couldn't be more wrong, you should check your facts.

[xLays]

Do you guys have any news about the $1000 Grand Slam freeroll by Stake when it will end? Not gonna lie, it's so addictive. I think I've managed to join more than 50 rounds in that freeroll tournament. I feel like it could end anytime soon because I see this new paid tournament. Still, I'm hoping it will last for another month. Out of the 50 rounds I joined, I only managed to win $4. 🤦

How about you share your experience with stake poker grand slam 1000$ freeroll tournament.

[Transparency1982]

With Roulette, the win chance is 50% due to the presence of the 0, so the payout is 2. With Dice on stake.com, if the win chance is 50%, the payout is only 1.98. Is the 1.98 low because the Dice can still land on the exact number 50 (similar to the 0 in Roulette)?

Roulette and Dice game concepts are completely different. The 0 is a special payout number on the roulette game. But you will loss your bet if you roll the number 50.00 on 1.98× payout (50% win chance) in the dice game. This is because of the difference of house edge concept of both games.

BTW, I had participated in some freeroll poker tournaments of Stake until now. And I have managed to win prizes from only one tournament, I had ended with 83rd rank and received $1.5 as reward.

I don't see any difference. In Roulette, you choose Black or Red, Odd or Even... and in Dice, you choose above 50 or below 50, they are both 50-50 choices.

[AHOYBRAUSE]

With Roulette, the win chance is 50% due to the presence of the 0, so the payout is 2. With Dice on stake.com, if the win chance is 50%, the payout is only 1.98. Is the 1.98 low because the Dice can still land on the exact number 50 (similar to the 0 in Roulette)?

Roulette and Dice game concepts are completely different. The 0 is a special payout number on the roulette game. But you will loss your bet if you roll the number 50.00 on 1.98× payout (50% win chance) in the dice game. This is because of the difference of house edge concept of both games.

BTW, I had participated in some freeroll poker tournaments of Stake until now. And I have managed to win prizes from only one tournament, I had ended with 83rd rank and received $1.5 as reward.

I don't see any difference. In Roulette, you choose Black or Red, Odd or Even... and in Dice, you choose above 50 or below 50, they are both 50-50 choices.

Black or red (odd or even) is a 47.4 chance of winning a 2x bet. On dice you also don't get 2x for betting over/under 50, 2.0x pays if you bet over/over 50.50.  The win chance for this is supposedly 49.5%. In reality it should be but we all know stake. 

So you have a chance of 47.4% at roulette vs a 49.5% at dice to win a 2x bet, that's a 2% difference in house edge which in the long run is HUGE.

[Transparency1982]

With Roulette, the win chance is 50% due to the presence of the 0, so the payout is 2. With Dice on stake.com, if the win chance is 50%, the payout is only 1.98. Is the 1.98 low because the Dice can still land on the exact number 50 (similar to the 0 in Roulette)?

Roulette and Dice game concepts are completely different. The 0 is a special payout number on the roulette game. But you will loss your bet if you roll the number 50.00 on 1.98× payout (50% win chance) in the dice game. This is because of the difference of house edge concept of both games.

BTW, I had participated in some freeroll poker tournaments of Stake until now. And I have managed to win prizes from only one tournament, I had ended with 83rd rank and received $1.5 as reward.

I don't see any difference. In Roulette, you choose Black or Red, Odd or Even... and in Dice, you choose above 50 or below 50, they are both 50-50 choices.

Black or red (odd or even) is a 47.4 chance of winning a 2x bet. On dice you also don't get 2x for betting over/under 50, 2.0x pays if you bet over/over 50.50.  The win chance for this is supposedly 49.5%. In reality it should be but we all know stake. 

So you have a chance of 47.4% at roulette vs a 49.5% at dice to win a 2x bet, that's a 2% difference in house edge which in the long run is HUGE.

That's why I chose to play Coin Flip, which only has 2 options: Head or Tail.

[Betwrong]

~

And at friday i got a decent place at Grad slam $1000 freeroll. This was something like sixth time i've played it total.

I was near out stacks in the game 3 times during the game, but waited patiently and got in top again. It was mostly luck as it usually is in free games, but some times it was pretty easy to read some players, on how they bet and the hands they show.

Congrats, @o48o! The 3rd place in a tournament with 3,000+ entries is amazing!

This the 2nd time I see someone from bitcoitalk community wins the 3rd place in a tournament like this. Two weeks ago I saw @iv4n posted about his win, and that inspired me to be more active in the Stake's Poker section and I started participating in those tournaments when I could, and once I managed to climb up to the 30th position even



but then my house lost power and internet for more than an hour and when I was back I saw that I was eliminated on the 114th place:



but since there were 150 paid places in this tournament



I stil won $1 from that.

[panjul07]

Do you guys have any news about the $1000 Grand Slam freeroll by Stake when it will end? Not gonna lie, it's so addictive. I think I've managed to join more than 50 rounds in that freeroll tournament. I feel like it could end anytime soon because I see this new paid tournament. Still, I'm hoping it will last for another month. Out of the 50 rounds I joined, I only managed to win $4. 🤦

How about you share your experience with stake poker grand slam 1000$ freeroll tournament.

Damn, 50 rounds? I'm wondering how many hours you have spent for it?
I myself participated in less than 5 rounds so far and my best result was when I finished on 60+ position.
I participated just because I want to try it, I dont like to play poker tournament with that much players because I dont like spending too long time playing poker.
No idea how long Stake will keep this Grand Slam freeroll, but if you think it is worth your time to participate as much as possible then simply take the opportunity before they remove it.

[arallmuus]

Dude, you should rephrase your stuff. Otherwise it seems like you have no experience with poker and how guaranteed price pool works.

Oh yeah I guess I got no experience with poker though  

So I'll just put this here then

CONGRATS to TikTokLyfe(Arallmuus) for winning the Grand Final.

also from me congratulations to arallmuus who has secured the title of the first betnomi/Icarus poker series

Im not sure how many times I won but oh well, I didnt keep record of it so where were you when I was the back to back bitcointalk poker series champion? oh right you were nowhere to be found  . I dont even recall playing against you on one of the series as well  

So stating "prizepool will stays the same no matter how many people register on the tournament" couldn't be more wrong, you should check your facts.

That was a dumb shit on my end. If Stake offer $1000 then the total amount that Stake put into the prizepool are $1000. The increasing prizepool doesnt come from Stake, it came from the buy-in fee.

Poor wording from me obviously coming from back to back champion