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Question: What do you consider a reasonable fee on your winnings?
0.1% - 5 (19.2%)
0.2% - 0 (0%)
0.5% - 7 (26.9%)
1% - 14 (53.8%)
Total Voters: 26

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Author Topic: What do you consider a reasonable fee on your winnings?  (Read 1061 times)
Boelens
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May 24, 2013, 02:37:55 PM
 #1

Hey there! I got a quick question, I'm working on my own site at the moment, and when a player takes winning, there will be a small fee for the house (like a lot of casinos do), and what do you consider a reasonable taking? 0.1%? 0.5? Of course everyone prefers the lowest, but what do you reasonable/acceptables? Thanks!
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Zaih
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May 24, 2013, 04:08:18 PM
 #2

Hmm.

Well I'd love to see lower house edges, PrimeDice & CR are pushing this which is great, it's only going to be a matter of time before people start beating them as well. So yeh, I'd like to see a 0.1% house edge Tongue But reasonable? That's a different question. I'm quite content with 1% house edge tbh, and if your the house & your playing against the player, if you had much less you'd be very susceptible to getting cleaned and such.

So yeh, voted 1%
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May 24, 2013, 04:13:28 PM
 #3

I voted for 0.5% because online gambling operations, especially ones done "on the chain", incur little cost for the operator. The only operational cost for a satoshidice clone is a cheap VPS running a bitcoin node. You can probably even run it on your home computer.

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Zaih
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May 24, 2013, 04:15:26 PM
 #4

I voted for 0.5% because online gambling operations, especially ones done "on the chain", incur little cost for the operator. The only operational cost for a satoshidice clone is a cheap VPS running a bitcoin node. You can probably even run it on your home computer.

Massive variance at 0.5%.. twice as much as 1%... which is twice as much as SD's (And we've all seen SD's statistical analysis, there's been months & days where they've lost thousandssss)

I'd like to see someone with the balls & bank roll to do it though Cheesy
Boelens
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May 24, 2013, 04:19:24 PM
 #5

Thanks for the input! I'll definately try to keep it low like 0.5%-1%, I like low house edges, and as this basically is an never loss for the casino (no, it's not a chain game, or a pyramid scheme, players don't lose money to me.), I don't like high house edges either, but it'll all depend on the amount of players and attention it gets, aslong as I've gotten enough BTC so I can pay the webhosting and other possible costs, I have no real intention to make big profit, and don't expect to.
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May 24, 2013, 05:42:26 PM
 #6

It depends on the nature of the game in question.  Is it something where you can do many iterations per minute, like a slot machine?  Is the payout something like even money or a large jackpot?

I would say that it is not possible to answer the question without you describing the game in some more detail.
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May 24, 2013, 05:58:24 PM
 #7

1% seems fine to me. Still less than... any "casino" using FIAT money

BEEP BEP
Boelens
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May 24, 2013, 06:55:22 PM
 #8

It depends on the nature of the game in question.  Is it something where you can do many iterations per minute, like a slot machine?  Is the payout something like even money or a large jackpot?

I would say that it is not possible to answer the question without you describing the game in some more detail.

It's not like a slot machine, rounds will depends, maybe I'll do it every block, few blocks, or hour-ish. The winning money would be a pool.
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May 24, 2013, 08:23:17 PM
 #9

what about poker rooms?
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June 18, 2013, 02:02:06 AM
 #10

As close to 0% (or lower than 0) as possible.
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June 18, 2013, 04:45:06 AM
 #11

I do notice that the bigger games with bigger prizes take out a bigger chunk of the winnings. Just look at a traditional state run (or government run) lottery, they give out 55% to the prize winners, 15% goes to management fees, and 30% goes to charity.

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Boelens
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June 18, 2013, 07:02:23 AM
 #12

I do notice that the bigger games with bigger prizes take out a bigger chunk of the winnings. Just look at a traditional state run (or government run) lottery, they give out 55% to the prize winners, 15% goes to management fees, and 30% goes to charity.

Yeah. Well, prizes for my site will completely depend on how many users play it, it works with a pool. I have no intentions at all to profit a lot of it, as I want the winners to get as much as they can, but I have to pay for Domain,hosting,possible graphic design, etc.
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June 18, 2013, 08:23:12 AM
 #13

You can do it like Peerbet which has a 0% house edge.
Boelens
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June 18, 2013, 08:27:12 AM
 #14

You can do it like Peerbet which has a 0% house edge.

What would this mean?
TradeFortress
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June 18, 2013, 08:44:35 AM
 #15

If your game is player vs player, then you take on no variance. Peerbet is offering 0% house edge.
Boelens
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June 18, 2013, 08:49:38 AM
 #16

If your game is player vs player, then you take on no variance. Peerbet is offering 0% house edge.

Ah, right. Well, it is sort of player vs player, except people play with a pool and you can win that pool. I'd love to do that but I don't see how I could pay for domain and such that way.
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June 18, 2013, 09:35:32 AM
 #17

It should depends on the amount.


< 1 btc => 1 %
1 - 10 btc => 0.5 %
> 10 btc +> 0.1 %
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June 18, 2013, 06:00:48 PM
 #18

If your game is player vs player, then you take on no variance. Peerbet is offering 0% house edge.

Ah, right. Well, it is sort of player vs player, except people play with a pool and you can win that pool. I'd love to do that but I don't see how I could pay for domain and such that way.

Peerbet is run off of donations via the user interface, I believe.
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June 18, 2013, 06:56:54 PM
 #19

I think reasonable depends on how much work you put into the project and laos how profitable it is to you. You should keep i t as low as possible for you to be in solid profits, otherwise you will make less money in long run - loose OR not gain customers. But that depends again on type of your project OR what your "product" is.


Voted 1% but think up to 5% can be reasonable.
Mooshire
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June 18, 2013, 07:02:16 PM
 #20

If I want to gamble, I choose something with a 1% house edge.

But if I have fun while gambling, I tolerate up to a 5% house edge.

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