Are there any Sports betting websites with 0% house edge?

[Deylandra]

I was thinking of trying to build a sports betting website with a 0% house edge.

I was wondering if anything like this existed now?

Basically, the website wouldn't use any of it's own money but would just hold funds in escrow, which would enable a 0% house edge.

For example, if you want to bet $100 on the Patriots and place it with a betting parlor, the house edge is like 10%. The casino needs to make a profit.

But if my best friend wants to bet $100 on the Rams, I can just bet against him and receive a 0% house edge.

But what if you don't have a best friend who wants to bet on the Rams?

This website would enable you to put $100 into a bitcoin escrow on the Patriots, and if another user wants to accept your bet, they put $100 into escrow for the Rams.

A smart contract would ensure automatic payoff upon completion of the game.

I mean, this is basically what Ethereum was built for I think, so I'm assuming someone has perhaps already done it?

I was living in England for a while and there's like sports betting parlors on every street corner. I'm just picturing like, all of this gone in 10 years, like what happened to blockbuster. When people figure out you can get a negligible house edge, why place bets where the juice is 10%?

[xvids]

I think you post it on the wrong section .
There is a gambling section in this forum you should move it there.

[alisafidel58]

First this should be here Gambling discussion.


I don't think that there is a sports gambling site like that nor I have ever encountered such a gambling site. I don't think that a gambling site like that would survive its operation just by escrowing funds.

[Kakmakr]

A 0% house edge will not generate income for the online casino site, to keep their doors open. A 0% house edge will also generate a lot of trafic to the site and traffic = bandwidth. How will a site like this pay for the bandwidth and maintenance and also support staff?

The only way this will work, is if the site hosts many other games with a higher house edge, which would generate the income for the site, but their Sport betting games will have to draw in the crowd with it's 0% house edge. <The site might just get Sport betting players and they might not play the other games?> 

[romero121]

The possibility for a website with 0% house edge is simply an impossible thing to be done. That too with sports betting it isn't that possible. As an user mentioned in the above quote with all the traffic and more games it isn't possible to achieve an earning to meet the requirements. The fund required as a base is very high and there are sites that have gone into loss even when they had certain percentage as house edge.

[Bitinity]

I was thinking of trying to build a sports betting website with a 0% house edge.

The casino needs to make a profit.

So what is you main plan? Offering free service for sports bettors so they can avoid the juice and you do not want to earn profit by making the site?
Or you have other idea how to make profit as the owner of the site that offers 0% house edge? I cant even imagine how you can survive, as you need to pay some expenses as the owner of the gambling site.

[ralle14]

This is already done by Onehash it's called parimutuel betting where odds of each side is determined by the total bet amount the site becomes the escrow but Onehash take a small fee from the winners. A sportsbook must have a house edge or at least have a way to profit because eventually you'll be forced to close your sportsbook because of the costs to maintain it.

The only way this will work, is if the site hosts many other games with a higher house edge, which would generate the income for the site, but their Sport betting games will have to draw in the crowd with it's 0% house edge. <The site might just get Sport betting players and they might not play the other games?>  

Another way for it to work is to charge the players a fix deposit or withdraw fee.

[MyRealName]

This is working example but has low activity: https://0xgame.io/
Also look at: www.sportcrypt.com It has some activity, but platform needs improvements.
Also take a look at www.Fairlay.com It is most active project nowadays. It will charge you up to 0.25% fee. But I think it's not a big deal compared to other bookies and exchanges.

All sites I was suing myself. Did not have any issues so far.

https://kryptium.io/ This is another one you are looking for. But I did not try it yet.

[kryptqnick]

A 0% house edge will not generate income for the online casino site, to keep their doors open. A 0% house edge will also generate a lot of trafic to the site and traffic = bandwidth. How will a site like this pay for the bandwidth and maintenance and also support staff?

The only way this will work, is if the site hosts many other games with a higher house edge, which would generate the income for the site, but their Sport betting games will have to draw in the crowd with it's 0% house edge. <The site might just get Sport betting players and they might not play the other games?> 

I've never encountered such websites but the idea is not crazy per se. If the bets are only within the network of players, the website if not gaining anything from them. Here, of course, we also exclude a case in which there is zero house edge on bets but, say, withdrawal fees that go to the website.
Such a website gets really high traffic, as you mentioned, because people are excited to play under such terms. This means that website can be easily monetized through advertising. Another thing such a website can do is receive donations from people who'd like to support it. These things combined might bring enough profit.

[traderethereum]

What do you expecting if the sports betting website was 0% house edge? Although they say like that, I don't think that they are really 0% of house edge. You know what, I never think about 0% house edge or not because if you search that website, you need to check one by one until you find what you want. You cannot enjoy the game because you still search the website and I think you will spend your time to find to search almost impossible website.

[MakeMoneyBtc]

I don't see what is the relation between sports betting and house edge because most betoors never talk about this since its not very important for them. When we are talking about sportsbooks we talk about which has the highest odds and that's what determines their house edge,but none sportsbook has a fixed edge because there are so many matches everyday and odds are completely different.

[AhmadM]

Socialbet.io is on beta test now. This site provide lottery games time based, they also have 0% house edge and KYC is needed there.
I don't know why people now have interest to create new gambling site with 0% house edge, do you not think about profit and maintenance fee when it needed?

[XCANA]

For a gambling website to operate with 0% house edge is surprising to know. There will be question of, how will the platform survive in terms of it financial responsibilities? will be much interested to know how they operate and how beneficial it will be to the owner. Although some platforms listed by forum members are not active and some not 100% Zero house edge.

[ralle14]

I don't see what is the relation between sports betting and house edge because most betoors never talk about this since its not very important for them. When we are talking about sportsbooks we talk about which has the highest odds and that's what determines their house edge,but none sportsbook has a fixed edge because there are so many matches everyday and odds are completely different.

Sportsbook can have a fix house edge if they want to, on Darkstar's overview bitcoinrush has a consistent house edge of ~3% on most of their markets. House edge is an important factor when it comes to sports betting because that small 1% difference can be huge when you're a regular gambler. There's less discussion regarding sportsbooks because most gamblers are casino players and i'm sure there's at least one thread here I can still recall making a reply but I don't have time to look for it.

[YuginKadoya]

What can I say 0% is not an option here Sports Betting is offering a low percentage house edge already and this type of thing is pretty easy compared to traditional casino sites that are way more house edge than sports bets, I say it will deal on your familiarity on the kind of sports you will try and bet in and a familiarity with the teams and players or fighter that are playing the sports that you love I can say you can do well with sports betting if you had this kind of information instead of casino-like gambling that are straight pure luck only.

[emberbekas]

I was thinking of trying to build a sports betting website with a 0% house edge.

I was wondering if anything like this existed now?

Basically, the website wouldn't use any of it's own money but would just hold funds in escrow, which would enable a 0% house edge.

For example, if you want to bet $100 on the Patriots and place it with a betting parlor, the house edge is like 10%. The casino needs to make a profit.

But if my best friend wants to bet $100 on the Rams, I can just bet against him and receive a 0% house edge.

But what if you don't have a best friend who wants to bet on the Rams?

This website would enable you to put $100 into a bitcoin escrow on the Patriots, and if another user wants to accept your bet, they put $100 into escrow for the Rams.

A smart contract would ensure automatic payoff upon completion of the game.

I mean, this is basically what Ethereum was built for I think, so I'm assuming someone has perhaps already done it?

I was living in England for a while and there's like sports betting parlors on every street corner. I'm just picturing like, all of this gone in 10 years, like what happened to blockbuster. When people figure out you can get a negligible house edge, why place bets where the juice is 10%?

Such a scenario will work if bets only involve a few people and they have different choices, one person chooses team A and the other person has to choose team B. But when betting involves many people and because the chances of people having the same choice are high, the scenario like that won't work. That is why there must be bookies that are ready to accept whatever bets we make and that will only happen with the help of the house edge.

[Oceat]

If they make it 0% how would they're going to stay in the long run? They aren't sure if their business will survive in the future, the house edge is their last final weapon in case if they get bankrupt due to people winning more than the casino earned. It's just a give and takes for both gamblers and the house.

[Dreamchaser21]

Socialbet.io is on beta test now. This site provide lottery games time based, they also have 0% house edge and KYC is needed there.
I don't know why people now have interest to create new gambling site with 0% house edge, do you not think about profit and maintenance fee when it needed?

Probably there are something on that gambling site because its too impossible for them to impose a 0% house edge. The system might be too risky for a gambler if they deal with those gambling sites. So far most of the gambling site have their own house edge and still many gamblers wants to play with them.

[Twinkledoe]

Socialbet.io is on beta test now. This site provide lottery games time based, they also have 0% house edge and KYC is needed there.
I don't know why people now have interest to create new gambling site with 0% house edge, do you not think about profit and maintenance fee when it needed?

They are promoting 0% house edge that's why they are receiving a lot of negative criticisms. People don't believe that such kind of system will work in this business. And most of us are thinking that somewhere along the process, there is a loophole that might cheat the players. It is a new system, that's why gamblers are hesitant. Gambling websites are known to be suckers of money, then why now create a 0% house edge?

[ralle14]

Socialbet.io is on beta test now. This site provide lottery games time based, they also have 0% house edge and KYC is needed there.
I don't know why people now have interest to create new gambling site with 0% house edge, do you not think about profit and maintenance fee when it needed?

Probably there are something on that gambling site because its too impossible for them to impose a 0% house edge. The system might be too risky for a gambler if they deal with those gambling sites. So far most of the gambling site have their own house edge and still many gamblers wants to play with them.

They could easily change their rules or add things to make it more convincing. Also with a 0% house edge it's not risky if they're true to their words the only risk is they don't have any reputation and could run away with everyone's funds. Anyways they're in beta we shouldn't judge it like everything is final.