Boelens (OP)
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May 24, 2013, 02:37:55 PM |
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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 |
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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](https://bitcointalk.org/Smileys/default/tongue.gif) 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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grue
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May 24, 2013, 04:13:28 PM |
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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 |
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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](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Boelens (OP)
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May 24, 2013, 04:19:24 PM |
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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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KGambler
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May 24, 2013, 05:42:26 PM |
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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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vlees
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May 24, 2013, 05:58:24 PM |
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1% seems fine to me. Still less than... any "casino" using FIAT money
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BEEP BEP
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Boelens (OP)
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May 24, 2013, 06:55:22 PM |
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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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nicolazza
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May 24, 2013, 08:23:17 PM |
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what about poker rooms?
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b!z
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June 18, 2013, 02:02:06 AM |
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As close to 0% (or lower than 0) as possible.
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Dabs
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The Concierge of Crypto
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June 18, 2013, 04:45:06 AM |
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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 (OP)
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June 18, 2013, 07:02:23 AM |
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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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🏰 TradeFortress 🏰
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June 18, 2013, 08:23:12 AM |
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You can do it like Peerbet which has a 0% house edge.
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Boelens (OP)
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June 18, 2013, 08:27:12 AM |
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You can do it like Peerbet which has a 0% house edge.
What would this mean?
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🏰 TradeFortress 🏰
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June 18, 2013, 08:44:35 AM |
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If your game is player vs player, then you take on no variance. Peerbet is offering 0% house edge.
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Boelens (OP)
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June 18, 2013, 08:49:38 AM |
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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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naphto
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June 18, 2013, 09:35:32 AM |
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It should depends on the amount.
< 1 btc => 1 % 1 - 10 btc => 0.5 % > 10 btc +> 0.1 %
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DiamondCardz
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June 18, 2013, 06:00:48 PM |
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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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BA Computer Science, University of Oxford Dissertation was about threat modelling on distributed ledgers.
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JKWong
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June 18, 2013, 06:56:54 PM |
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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.
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Mooshire
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June 18, 2013, 07:02:16 PM |
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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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