How does provably fair environment ensure the survival of gambling houses.

[bearexin]

I mean it is a fair environment for both a gambler and a gambling house so either anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.

I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.

In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?

What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

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[sana54210]

House edge. One simple answer for all your questions.

House edge is the open thing that is being collected from every gambler for the survival of a house. Unlike you mentioned, there is more than 50% chances for the houses to be successful against its customers in any game. Yes, a gambler gets only (50-house edge)% chances to be a winner.

Moreover, martingale kind of strategies are emphasizing about increasing your base bet on the event of losing bet. But, we need to remember like losing streak there are chances for continuous winning streak which is being missed by all the gamblers due to house-favorable strategies. I mean house-edge and flawed gambling strategies are few things (I could recall right away) which ensure survival of gambling houses.

[Ucy]

I guess the opposite of provable fair  gambling system is rigged gambling system. Or even a gambling system that can be potentially rigged. So are you suggesting that it's OK to rig the system to become very profitable (the serious provable fair ones are profitable atleast) or have a system that can be potentially rigged? I think the provable fair is ethical/moral and good for both parties (the gambler and house)

[AakZaki]

I never thought that bookies could lose. as I know my own experience when playing both gambling online gambling and offline gambling, I more often lose than win. and I don't think it just happened to me, even though there are people who win a lot from gambling on the other hand there are definitely people who lose a lot too. I think the bookies of the possibility of losing globally is very small.

[YuginKadoya]

We are all saying that gambling is risky but why there are still many people playing it the probable fair here seems just a percentage of the risk so, in my opinion, many people are surely aware of this, a percentage would not gonna sure the possibility that you can always win, the house is a fixer of that percentage to be random to bettors,

The gambling site didn't say it is 100% not risky there is the percentage to that and the fair thing that is talking about the site is the fairness that the gambling site would always sure to consider the percentage to be always there.

[hosseinimr93]

As it is already said, the house edge guarantees that the gambling website is profitable. The house guarantees that the house beats gamblers in the long term. Besides, Gambling websites consider a maximum amount for the profit a gambler can earn in a single bet. As every single bet is independent form other bets, a gambler might bet a huge amount which is more than the amount the house can afford to pay.

[target]

Casinos always win. I don't know how you can measure the provability of it but BTC casinos always claim to have fair provability. The Casino I promote claim to have fair provably, I'm just not sure about its reality since I lose most of the time there. Saying they are fair however makes the gambler think they can win. I guess it can establish trust to people when they mention provably fair on the website.

[ChrisPop]

First of all provably fair does not mean that they have no house edge. Is just that the rolls are random, but they do have an edge over you. If you have noticed on most dice websites when you bet on OVER,UNDER 50 you get a 1.98x odds or something like that. That's their edge and that will ensure they win over the long term if the clients keep playing at their tables.

Of course respectable casinos also employ risk management strategies, such as that you can only bet a certain amount per game, etc.

[shoreno]

I mean it is a fair environment for both a gambler and a gambling house so anyone may lose all their money.

what do you mean when you say anyone ? every gambling platform can claim that they are provably fair but we wont know if they are really fair because i think its possible to manipulate since they are the owner  . not saying all of them but some maybe ,,,

How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.

a gambling platform can limit bets ( how many max bet or max win ) and what does the house edges  mean's ? i think they already earn or cut thier loss depending on the percent of thier edges  .

In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?
What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

gambling is stil a  business and for sure that every business have pros and cons  . not all business can be sucesfull

[Shimmiry]

First of all provably fair does not mean that they have no house edge. Is just that the rolls are random, but they do have an edge over you. If you have noticed on most dice websites when you bet on OVER,UNDER 50 you get a 1.98x odds or something like that. That's their edge and that will ensure they win over the long term if the clients keep playing at their tables.

Of course respectable casinos also employ risk management strategies, such as that you can only bet a certain amount per game, etc.

When you are in playing the gambling, you are taking the risk all of your money and your self too because when you are playing even your intention is just for fun. Still, there is money involved. You don't want to lose all of your money in just a game as a gambler. We want to earn a profit. There are only two types of players, the winner and the loser, but we don't want to go home just giving or wasting your money.

[Ailmand]

House edge and withdrawal fees make gambling platorm survive. Even in real casino it's always the house win and that's how it goes, it os a business and it would not be built if it is not designed to be profitable. It may say provalbly fair, but at some point gambling is always about winning that is why the odds of winning is always smaller.

[seoincorporation]

I mean it is a fair environment for both a gambler and a gambling house so anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.

I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.

In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?

What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

Casinos have a house edge, and that's the way they ensure the success of the project. The house edge is a small % that the house has of advantage, let's say you are playing 1 dollar bets against the house with just flipping a coin. If you lose you will lose the dollar, but if you win you will get 0.95 dollar. This way is how the house wins in the long run.

[redsun114]

let's say you are playing 1 dollar bets against the house with just flipping a coin. If you lose you will lose the dollar, but if you win you will get 0.95 cents. This way is how the house wins in the long run.

2 corrections:
You will get $0.95+1 dollar (you get back your bet amount).
0.95 cents is less than one cent. It could be 95 cents or 0.95 dollar in your example.

how we do have lots of gambling houses when provably fair is a neutral to them?

If you observe keenly, lots of gambling business are getting closed regularly. It makes us assume that provably fair is neutral to both the parties. For a failed business, there could be hundreds of reasons like poor management or hacking or anything but when not considerably profitable due to provably fair environment also one of probable reason.

[Ayiranorea]

let's say you are playing 1 dollar bets against the house with just flipping a coin. If you lose you will lose the dollar, but if you win you will get 0.95 cents. This way is how the house wins in the long run.

2 corrections:
You will get $0.95+1 dollar (you get back your bet amount).
0.95 cents is less than one cent. It could be 95 cents or 0.95 dollar in your example.

how we do have lots of gambling houses when provably fair is a neutral to them?

If you observe keenly, lots of gambling business are getting closed regularly. It makes us assume that provably fair is neutral to both the parties. For a failed business, there could be hundreds of reasons like poor management or hacking or anything but when not considerably profitable due to provably fair environment also one of probable reason.

You itself have stated this the provably fair environment will serve to be one among the probable reason for closure of gambling businesses and not a proven reason. Gambling houses will always have their own house edge which gets them with the profit. Going through the gambling discussion section it is possible to find more users who have failed in gambling losing big. Have you come across any thread stating that they are closing their website as there isn't profit. If something happened then it isn't not of profit, it would've happened for other reasons.

[milewilda]

What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

Its never been a neutral thing and the stuff you have missed is the House edge considering that provably fair stuff they wouldnt mind too much as long theres HE this business would becomes profitable no matter what or in the end of the day. Big wins do happen and this is why gambling houses do set maximum wins to prevent their entire bankroll to bust up and its just been a typical part of the management.As more players do hang out on a site and as they wager more money they do earn at the same time.

Heres some explanation about it: https://www.liveabout.com/understanding-the-house-edge-537607

[leowonderful]

There's also other costs associated with running a casino like hosting the website and all of the features on the cloud and advertising through plain web ads on other crypto-related websites or even signature campaigns through Bitcointalk, and some smaller sites also just don't have large bankrolls which means a whale netting a few wins and leaving could leave the site with a temporary loss, though some sites especially like crash set max win limits to prevent events like this from happening. Statistically speaking, the house wins over time, but that doesn't mean losses can't occur in the short term.

[maydna]

Gambling houses will get the most win because they are taking all gambler's money from the gambler's lose. We don't know how much money the gambling houses will make, but I am sure that will be huge money as many gamblers still playing in their place. I don't think gambling business is saturated because if you visit on each gambling website or casino, you will find that each casino will have their members who are still playing gambling.

When you can maintain your gambling houses, and you can make your members satisfy while they stay at your casino, I am sure your members will love to spend their money to play the games. And that means you will make more money because every time they gamble, many of them will get lose and only a few of them that will win.

The gamblers will select the gambling houses in which they will play gambling. They will have their favorite gambling houses and stay on those gambling houses for a long time.

[Darker45]

I mean it is a fair environment for both a gambler and a gambling house so either anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.

I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.

In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?

What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

A provably fair system may be neutral to the gambling house but it is only neutral as far as the results are concerned. Meaning to say, that the games will give the users random and fair results. This is all about showing to the users that the results of the games are not in any way rigged. That the codes in the system do not favor the house. And because it is provable, all the users can confirm or verify it themselves. Instead of being against the house, this kind of system is actually advantageous to it because gamblers would always prefer a house that is open and can be trusted.

[libert19]

There is fixed house edge, even when player wins there will be small percentage that goes to the house, technically house can never lose in long term.

[mu_enrico]

Yep, the answer is the house edge. It ensures the profitability of the house. However, guaranteed "profit margin" doesn't mean that the casino will survive.

The survivability of a casino depends on various factors:
- UI & games offered;
- Promotion;
- Community, etc.

[jrrsparkles]

I mean it is a fair environment for both a gambler and a gambling house so either anyone may lose all their money. How gambling houses are avoiding big loses to their customers because they are only having provably fair games and anyone could be the winner at the end of day.

I know the gambling business is a saturated one nowadays and there is a heavy competition among houses. But, basically with provably fair thing, I am afraid that houses cannot be sure about being profitable within existing customers base and their spending money.

In some sense, when a gambling house grows bigger in terms of customer base, the chances to be defeated in the provably-fair-environment is more. Does it mean there is only 50% chances to be successful as a gambling business owner?

What am I missing and how we do have lots of gambling houses when provably fair is a neutral to them?

Gambling sites are surviving from players losses, if you see the probability of winning on any casino game then it will be 1/10 or lesser to most game so house has better chance if more players are playing and you calculation or query about their survival will fit if house has only one player on that site.

[owengtam09]

I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.

[Ucy]

As it is already said, the house edge guarantees that the gambling website is profitable. The house guarantees that the house beats gamblers in the long term. Besides, Gambling websites consider a maximum amount for the profit a gambler can earn in a single bet. And every single bet is independent form other bets, a gambler might bet a huge amount which is more than the amount the house can afford to pay.

How about changing account or gambling with multiple accounts to bypass the limit?
If the maximum profit is not fixed, it could be changed as they wish?
Well, I guess this limit setting by gambling websites should be part of what provable fair can prevent or make more transparent to  gamblers?

[Debonaire217]

I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.

And most of the time, the number of winners is less compared to those who bet and lost the game. In this case, the house is having the higher percentage of profit but if you are the lucky winner of a game, it is sure that you can get too much. But the chances of you winning is low.

[peter0425]

I never thought that bookies could lose. as I know my own experience when playing both gambling online gambling and offline gambling, I more often lose than win. and I don't think it just happened to me, even though there are people who win a lot from gambling on the other hand there are definitely people who lose a lot too. I think the bookies of the possibility of losing globally is very small.

but what OP is mentioning are about Fair Environment meaning the house gives higher chance of wining from the players than loosing.
though this is very few(actually i think i have not experienced playing in one)i believe that they can survive by adjusting the winning chances.

There is fixed house edge, even when player wins there will be small percentage that goes to the house, technically house can never lose in long term.

this may be one of the reason for them to survive because at least there are surely income in every game,players win house will gain as well.

[imstillthebest]

I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.

And most of the time, the number of winners is less compared to those who bet and lost the game. In this case, the house is having the higher percentage of profit but if you are the lucky winner of a game, it is sure that you can get too much. But the chances of you winning is low.

chances of you winning will also depend on the different factors e.g luck , type of game , how much house the casino have , how much your back roll and many more  .  i think if you can have all these factors equally i dont know if you cant still win but we all that not all can fulfill those requirements so their chances of winning are always cut .  provably fair isnt the only one factor to base if how long a gambling site can survive but also depend on other factor as well like how much thier capital, what is thier advantage on why gamblers will keep playin on them , etc .....

[alexsandria]

Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this. Besides when we says fair environment we are always thinking about gambler-centered environment though it is but the thing is, it is either win or go home lose. Applying the idea of fair environment, it would be all about the player and not the system itself, it will turn out to be more like their gain came from rental stuff, entrance something like that.

[Casdinyard]

Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this.

I would agree and seemsOP misunderstood the house edge and provably fair.
More likely the percentage of provably fair is just a show up and at the end of the day the house always win.
How do you think casinos survive? Taking to account of their expenses --- I guess no casinos will continue to operate just for the sake of players.

[joshy23]

I think the house always wins, especially if there are always a lot of gamblers playing inside the house even though we all know that every game there is always who wins even though that is not us but there are also some games that you are only the one who plays and if you lose the house wins so the house still wins. Not all our gambling game results are always positive.

The generated profits out from this business came from those gamblers who will stay long inside the house. Since there's always HE that is really the biggest advantage of the owners of the house. When there's more gamblers to play the more profits the house will take, the reason why gambling owners
make sure that they will attract more players to the point that they will give bonuses to make sure that players will be satisfied and keep coming back.

[DoublerHunter]

Fair environment? I don't think there is a fair environment in those gambling houses. Gambling sites are always winning this.

I would agree and seemsOP misunderstood the house edge and provably fair.
More likely the percentage of provably fair is just a show up and at the end of the day the house always win.
How do you think casinos survive? Taking to account of their expenses --- I guess no casinos will continue to operate just for the sake of players.

^ Definitely right, because the house edge is the main revenue from the owner and a gambling platform won't survive if they dont have revenue. They always say this promising word the provably fair but the fact, it's really hard to defeat the house edge and it is always in favor of them. This is clear that gambling is not good for chasing money, it just for fun and if you are lucky enough, you can defeat the house edge as well.

[sunsilk]

They can survive despite of the competition's heavy presence. I think op you got already the answer that you're looking for. One's the casino has already the user base and they are having an acceptable number of daily users.

The thing that they'll get busy is to maintain the site and to sustain other costs through the said factor by most.

[tbterryboy]

I like to appreciate your cross-thinking like most people here are worrying about survival of gamblers in provably fair environment whereas no one question about casinos for same set of conditions. Your question is sounding like doubting about the reliability of provably fair still houses are taking commission from gamblers in the name of house-edge which is also covered by provably fair environment.

I guess you might have got your answer from so-far conversation hence it would be much better you go locking this topic as it may turn supporting spammers. (It is always a good practice to lock a discussion after it served its purposes)