Negative House Edge Crypto Casino

[phreess]

I had a look at the site phreess.com and when I read the following

With Phreess blockchain technology, we guarantee prices not to go down, but only up. Once a certain price is reached, everyone will be able to buy and sell at that price until the price increases again.

I could only close the page and start laughing.

I havent spot it out and thank you for elaborating it buddy and same as yours on when the time i do able to read up some guarantees of likes "price will increase and wont drop" kind of lines
then that will already automatically give out some negative impressions. Giving out some guarantees that investors wont lose money if they decide to buy the token is just only
good or can only happen in dreams but in real life? Meh. .Those are just empty words yet price increase or value will always vary on the demand on said tokens.
I agree with some words that this is something new in way of selling out projects token but giving out guarantees? that really leave out some not good impressions.

I should've worded out that differently. I guess the only guarantee in life is that life will go on.

[1714537468]

1714537468

[hulla]

Creating a negative house edge gambling site is a wonderful innovation but I dont think this will go a long way, i dont want to discourage you but the idea to promote your token which will be use as native coin on the site seems to be a bad idea cause 95% of all gambling site native token are later obsolete. However, you doing the intial offering of the token through ICO wont help the sales either.

Yup, usually they become obsolete as owners let go their sites, don't care about keeping up the good work and everything else needed to make a successful site.

I think we are really early to see it's full potential.

The first step is to finish the Phreess Exchange, and continue promoting the whole Phreess project, not only on forums but other means, like search engines, content marketing and a lot of other great ideas.

In the past, one of my biggest projects got like 3million visitors in like 6 months and I made a killing.

It takes time. That time, that site took around 8-10 months before it went to the moon in serps (search engine ranking pages) to #1 in lots of highly searched terms, and that's where the users really started coming in.

Right now, we are at the stage of starting everything and showing people what we can do, but in time, the site will talk for itself and the engagement will be amazing.

Like bitcoin, when it started, everyone called it a scam, but now even jpmorgan got his crypto ready to roll.

So, it's all a matter to get to work, increase engagement and let things develop naturally.

You seems to have everything put in place cause the others features you mentioned can make your token thrive in the market cause crypto investors always welcome new innovative project rather than a copycat but I hope you guys also have everything put in place concern the negative gambling site you are planning to create due some fee that you'll use to keep the site alive.
With that been said, I will advise you to sell your token through IEO or including Defi through Uniswap which seems to be the initial offering unvestors follow these days.

[Pamadar]

Wait.
So if I am an investor then I would be in a delicate position here?
You are giving away free tokens because of the negative house edge.
The value may come up with "widespread adoption" as you say it. But, it will also drop when all those freebies will be sold instantly.
What will be my advantage as an investor? Or, should I just be one of those who will play the game to make more?

Are you not worrying that it may scare buyers?

I see your point, investors will not bite this kind of offer.

Knowing that those free tokens can be gain throughout  when playing inside the house are mostly be sold right away. It will affects the
value of the token and for investors side that won't attract them, there are many projects that shared dividends to investors most failed
to attract people to support the project.

[Saint-loup]

I have read tons of threads regarding this notion of doing a casino with a Negative House Edge, and of course it makes sense NOT to create one, right? Unless you wanted to give away free crypto to users, in the long run the house would be losing crypto coins.

Now, I really6 thought about this for more than a year now and I think I found the only way that a Negative House Edge Crypto Casino can work.

So, I made the first casino with negative house edge and I was wondering what you guys thought.

Obviously, the goal is to promote the use of the Phreess token, and for people to earn Phreess in the long run playing on the casino.

How much is your negative house edge exactly?
There is some publicity I suppose

[phreess]

Creating a negative house edge gambling site is a wonderful innovation but I dont think this will go a long way, i dont want to discourage you but the idea to promote your token which will be use as native coin on the site seems to be a bad idea cause 95% of all gambling site native token are later obsolete. However, you doing the intial offering of the token through ICO wont help the sales either.

Yup, usually they become obsolete as owners let go their sites, don't care about keeping up the good work and everything else needed to make a successful site.

I think we are really early to see it's full potential.

The first step is to finish the Phreess Exchange, and continue promoting the whole Phreess project, not only on forums but other means, like search engines, content marketing and a lot of other great ideas.

In the past, one of my biggest projects got like 3million visitors in like 6 months and I made a killing.

It takes time. That time, that site took around 8-10 months before it went to the moon in serps (search engine ranking pages) to #1 in lots of highly searched terms, and that's where the users really started coming in.

Right now, we are at the stage of starting everything and showing people what we can do, but in time, the site will talk for itself and the engagement will be amazing.

Like bitcoin, when it started, everyone called it a scam, but now even jpmorgan got his crypto ready to roll.

So, it's all a matter to get to work, increase engagement and let things develop naturally.

You seems to have everything put in place cause the others features you mentioned can make your token thrive in the market cause crypto investors always welcome new innovative project rather than a copycat but I hope you guys also have everything put in place concern the negative gambling site you are planning to create due some fee that you'll use to keep the site alive.
With that been said, I will advise you to sell your token through IEO or including Defi through Uniswap which seems to be the initial offering unvestors follow these days.

Thanks. Yeah, once the Phreess Exchange is up and ready, people will be able to trade their tokens over there.

Wait.
So if I am an investor then I would be in a delicate position here?
You are giving away free tokens because of the negative house edge.
The value may come up with "widespread adoption" as you say it. But, it will also drop when all those freebies will be sold instantly.
What will be my advantage as an investor? Or, should I just be one of those who will play the game to make more?

Are you not worrying that it may scare buyers?

I see your point, investors will not bite this kind of offer.

Knowing that those free tokens can be gain throughout  when playing inside the house are mostly be sold right away. It will affects the
value of the token and for investors side that won't attract them, there are many projects that shared dividends to investors most failed
to attract people to support the project.

Yeah, that may be true, but as soon as the Phreess Exchange is up and running and people actually start trading their coins, that's when it will start the journey.

Right now, it's not on exchanges, but soon will

I have read tons of threads regarding this notion of doing a casino with a Negative House Edge, and of course it makes sense NOT to create one, right? Unless you wanted to give away free crypto to users, in the long run the house would be losing crypto coins.

Now, I really6 thought about this for more than a year now and I think I found the only way that a Negative House Edge Crypto Casino can work.

So, I made the first casino with negative house edge and I was wondering what you guys thought.

Obviously, the goal is to promote the use of the Phreess token, and for people to earn Phreess in the long run playing on the casino.

How much is your negative house edge exactly?
There is some publicity I suppose

The House Edge is -1%, which means that overall, for every bet you make, you get 1.01x your bet.

[jostorres]

I like the topic and negative house edge has always been a hot topic because while casinos cannot operate at house edge but I wonder even without an edge or even negative house edge which works for players might still benefit house because the bigger bankroll usually tends to eat up the smaller one, house edge only helps the cause.

There are no current casinos that work at negative house edge and there is no reason for a casino to operate like that because mathematically the casino should lose to the gambler which sounds crazy, but I personally feel even without the house edge it would be gambler who would be on the wrong side of the results still. Think of it, we often deposit and lose all that money but do we wager for all of it? Suppose I deposit 0.01 then I would bust it without even getting close to 1 BTC (1% house edge means I should be able to wager 1 BTC before losing 0.01BTC) wager which shows that house edge is not the only reason for the gambler to lose.

[mu_enrico]

So users play with the phreess token, not BTC, etc, right?
If that's the case it is somewhat similar to staking with an uncertain yield. Yeah, it is doable. But depending on how easy to earn the token, the price would go to the equilibrium (in theory), so there is no such thing as a guaranteed profit (in dollar or BTC value).

[shoreno]

Wait.
So if I am an investor then I would be in a delicate position here?
You are giving away free tokens because of the negative house edge.
The value may come up with "widespread adoption" as you say it. But, it will also drop when all those freebies will be sold instantly.
What will be my advantage as an investor? Or, should I just be one of those who will play the game to make more?

Are you not worrying that it may scare buyers?

I see your point, investors will not bite this kind of offer.

Knowing that those free tokens can be gain throughout  when playing inside the house are mostly be sold right away. It will affects the
value of the token and for investors side that won't attract them, there are many projects that shared dividends to investors most failed
to attract people to support the project.

they think negative house is a good idea to attract people but it will only attract those that hunt free coins and theres a posibility that investors wont invest anymore and they will also join the craze of playing the game just to earn a coin .

if they dont wan this to happen , they can make another option which is to limit the rewards given on the casino or they dont make the house edge negative so that chance of winning to free players will be lessen . investors wont be affected that way .

[Yudhisthir]

You buy a token with money but you don't have a way to turn the token into money. It's like playing fun game spending money.
If you can't redeem your tokens or sell to other users, it's worthless. Furthermore it's not a cryptocurrency or a token if it can be transacted through.
It's just a virtual game points on the site that can be bought using crypto. It makes no sense even if it were a -100% house edge.

[Karartma1]

I had a look at the site phreess.com and when I read the following

With Phreess blockchain technology, we guarantee prices not to go down, but only up. Once a certain price is reached, everyone will be able to buy and sell at that price until the price increases again.

I could only close the page and start laughing.

I havent spot it out and thank you for elaborating it buddy and same as yours on when the time i do able to read up some guarantees of likes "price will increase and wont drop" kind of lines
then that will already automatically give out some negative impressions. Giving out some guarantees that investors wont lose money if they decide to buy the token is just only
good or can only happen in dreams but in real life? Meh. .Those are just empty words yet price increase or value will always vary on the demand on said tokens.
I agree with some words that this is something new in way of selling out projects token but giving out guarantees? that really leave out some not good impressions.

I should've worded out that differently. I guess the only guarantee in life is that life will go on.

Do you know what you should have avoided? To start a shady project in the first place; then you come here promoting your negative house edge coin flipping game to get people's interest.
I have snapshotted your bold statement in case you will change it

I don't flag you know but I will watch this closely to help people not being scammed by your ICO.

[DoublerHunter]

^ Playing in a negative house edge with Phreess or any token that has no value at all is like playing a kids game where if you will win you can just simply brag it to anyone because the prize that you can earn from winning has no use. Apparently, for people like me who finds gambling as entertainment, I can somehow try it as well besides I play and put bets on the amount which I can only afford to lose, and playing on this negative house edge using Phreess token I will not be afraid of getting lost since it is free and has no value for now. Nevertheless, winning on the negative house edge with a token is not bad at all for we cannot assume if Phreess will never gain any value in the future.

[tippytoes]

^ Playing in a negative house edge with Phreess or any token that has no value at all is like playing a kids game where if you will win you can just simply brag it to anyone because the prize that you can earn from winning has no use. Apparently, for people like me who finds gambling as entertainment, I can somehow try it as well besides I play and put bets on the amount which I can only afford to lose, and playing on this negative house edge using Phreess token I will not be afraid of getting lost since it is free and has no value for now. Nevertheless, winning on the negative house edge with a token is not bad at all for we cannot assume if Phreess will never gain any value in the future.

Don't say that it is free to play as you need to purchase phrees token in terms of btc or eth before you can play. Hope you didn't overlook how much they are selling their token at a price tag of 300 satoshis per phrees token. So you're not playing for free here. This is the reason why they have negative house edge, to attract gamblers to play on their site but in return they need to buy their tokens first.

[fullhdpixel]

You need to buy their phrees token before you can play on their platform. Right now, their price is 1 Phrees = 300 satoshis. So they are selling their tokens via their casino. That's where their funds will be coming from. We will see if they can attract players here that will buy their tokens.

The problem I see in their model lies in this statement as taken from the website:

"With a -1% House Edge, we will allow our players to earn tokens in the long run from our games. Not only that, but we will allow Phreess to become more known and become a success!"

Because, this means that players will earn free coins and then what they would do?

Obviously they will dump the coins and cash it and that is the problem when you give away free coins in name of negative house edge, players will play, earn and dump the coins which will always create a constant negative impact on the price for the tokens.

[tbterryboy]

The offer is too good to be true for a negative house edge to maintain a profit. How do you plan to create a profit when the games at your casino are in favor of the players. That is opposite what a businessman should do, thinking about favoring the interest of their customers. The business model that you are proposing will be unsavory to your investors, and in my opinion, it will not work unless you do some questionable underhanded tactics. If you say that you will put negative house edge and then putting it back to a positive house edge, then as a gambler, I would just wait it out. If that exploit is done by a lot of the players, it will break the business within months.

Completely agree on that and while the use and spread of tokens might carry the casino for some time but really it would not survive in the long term and lose everything to players eventually.

One way I think people can negate the house edge is by taking part in promotions and giveaways. For example, if you are a sports bettor you can check offers from sportsbet.io and stake.com as they offer some really cool promotions like UFC double pay (stake) and free bets on various events (sportsbet) so taking these offers you can negate the house edge to a considerable number. Negative house edge is just plain stupidity to even think about.

[phreess]

I had a look at the site phreess.com and when I read the following

With Phreess blockchain technology, we guarantee prices not to go down, but only up. Once a certain price is reached, everyone will be able to buy and sell at that price until the price increases again.

I could only close the page and start laughing.

I havent spot it out and thank you for elaborating it buddy and same as yours on when the time i do able to read up some guarantees of likes "price will increase and wont drop" kind of lines
then that will already automatically give out some negative impressions. Giving out some guarantees that investors wont lose money if they decide to buy the token is just only
good or can only happen in dreams but in real life? Meh. .Those are just empty words yet price increase or value will always vary on the demand on said tokens.
I agree with some words that this is something new in way of selling out projects token but giving out guarantees? that really leave out some not good impressions.

I should've worded out that differently. I guess the only guarantee in life is that life will go on.

Do you know what you should have avoided? To start a shady project in the first place; then you come here promoting your negative house edge coin flipping game to get people's interest.
I have snapshotted your bold statement in case you will change it

I don't flag you know but I will watch this closely to help people not being scammed by your ICO.

Don't worry, man. We are not here to scam. We are here to create a cryptocurrency that can help people move from the predatory fiat currencies that only allow people to lose wealth in the long run.

This will be a great experiment. The only thing that will decide things is time. Time will tell. But, scamming fiat from people is just not the idea. Like, if we exit scammed, sure, it would "help" us in the short-term, but in the long run, no one will win as fiat currencies lose value and we hurt people financially. So, the idea is to work on the long run for this to work.