House Edge

[Fivestar4everMVP]

The fact that the difficulties in casinos can be adjusted based on what is coded in the algorithm makes the house edge of a thing that is difficult to ascertain or trust.

We should know that house edge is not a target aimed at the gamblers, instead, its something that had been place in favour of the gambling platform to have edge over the gambler, that is one of the reason why we can always see that in some particular games, no matter how expertise you're or skillful, luck or win will be a rare thing to achieve because that is how it works for such system under that category.

You are right, but still, I think house edge still does work in reverse mode, which simply means that the casino can't win if the gamblers don't lose, so, in reality, the house edge is a mechanism that is placed to favor or give the casino an edge over the gambler, which is also to the detriment of the gambler because like I said before, when the casino wins, the gambler loses.

I think it's important for us to understand that gambling is a one way thing when it comes to winning and losing, there is no draw here, when we play casino or slot games, you either win or lose, when our win, means the casino's loss, and our loss, means the casino's win.
So, when the house edge is working for the casino to be profitable, where does the profit come from? it's still from the gamblers whom the house edge will force to lose so as to add profit to the casino.

I htink if i get you right, even if a gambler won against the house doesn't make it more of an often occurrence that the gambler have more winning edge over the house, in gambling, we often loose in general than we make win, this also could be determined by the specific game or sport in consideration by the gambler as well, so everything is determined base on the situation involved as well as the conditions attached.

Well, you are right anyway, casinos have so designed gambling in a way that in the long run, the gambler will likely be at a lose when compared to how much they have put only gambling and how much in total they have won, but this still boils down to luck any way, and how people prepare or package themselves and go about their gambling activity.

But regardless of how a gambler goes about his or her gambling activity, the truth remains that (due to house edge, which oversees that the casino is in profit over time) if a gambler is one that is hooked to gambling, it will take extreme good luck for such one to be winning in the long run, esle, the gambler will just be paying for the fun he or she is having.

[Zadicar]

The fact that the difficulties in casinos can be adjusted based on what is coded in the algorithm makes the house edge of a thing that is difficult to ascertain or trust.

We should know that house edge is not a target aimed at the gamblers, instead, its something that had been place in favour of the gambling platform to have edge over the gambler, that is one of the reason why we can always see that in some particular games, no matter how expertise you're or skillful, luck or win will be a rare thing to achieve because that is how it works for such system under that category.

You are right, but still, I think house edge still does work in reverse mode, which simply means that the casino can't win if the gamblers don't lose, so, in reality, the house edge is a mechanism that is placed to favor or give the casino an edge over the gambler, which is also to the detriment of the gambler because like I said before, when the casino wins, the gambler loses.

I think it's important for us to understand that gambling is a one way thing when it comes to winning and losing, there is no draw here, when we play casino or slot games, you either win or lose, when our win, means the casino's loss, and our loss, means the casino's win.
So, when the house edge is working for the casino to be profitable, where does the profit come from? it's still from the gamblers whom the house edge will force to lose so as to add profit to the casino.

I htink if i get you right, even if a gambler won against the house doesn't make it more of an often occurrence that the gambler have more winning edge over the house, in gambling, we often loose in general than we make win, this also could be determined by the specific game or sport in consideration by the gambler as well, so everything is determined base on the situation involved as well as the conditions attached.

Well, you are right anyway, casinos have so designed gambling in a way that in the long run, the gambler will likely be at a lose when compared to how much they have put only gambling and how much in total they have won, but this still boils down to luck any way, and how people prepare or package themselves and go about their gambling activity.

But regardless of how a gambler goes about his or her gambling activity, the truth remains that (due to house edge, which oversees that the casino is in profit over time) if a gambler is one that is hooked to gambling, it will take extreme good luck for such one to be winning in the long run, esle, the gambler will just be paying for the fun he or she is having.

Already that been designed on that way and we do know that they are business and this is the way that they do make or gain up that revenue on which it does make sense. Despite of those kind of disadvantages but still surprisingly on where there are really those people who do really love on playing despite of those disadvantage. We've seen that gambling industry is really that big and really that making huge revenue because gamblers do really seek out on becoming rich with gambling and this is why they do become that desperate on dealing with it on which making it more profitable
for those business owners due to this very common human being behavior. House edge would really be definitely giving out that edge on which it is really understandable on this way
but people are really that slow to understand the reality.

[Poker Player]

I used coin flip as an example because it's the most simple game I could think of which has only two outcomes with the same probability (50/50).
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.

You see, like many of you who write in this section, you have a certain idea of what HE is, but you don't really understand it. Where do you get that in the example you give the HE would be 2.5% if you get paid $0.95 for every $1? From dividing $0.05 by 2? Is that the logic? That as half of the time you will get heads and the other half tails you have to divide by 2?

[tortic25]

I think it is likely the decision of the site owner to decide what their edge is. Maybe one casino has less users and has to charge a higher fee in order to profit. It shows that shopping around can be beneficial when it comes to casinos. It also shows that Stake is a less costly place to gamble online.

This is why money pot investors lost a lot.
The affiliate % and bet back programs need to be adjusted according to the house edge.
i haven't played dice in awhile so my example will be off.
But moneypot and crypto-games was exploitable
Moneypot for example, you could set your house edge, open a site, and get 50% of the house edge that was wagered.
if you auto bet 1.02x payout. with 125% increase on loss, and 2% decrease on win....... you would eventually bust, but you would get more back from the reward program then the total amount lost.
If you set the house edge to 1%, you would need to roll under 97 "i think"  2% you would need to roll under 96.  the reward ratio was the same, but you couldn't wager as much before busting.
the point is, with 1% it was exploitable, with 2% it wasn't. So a site with 1% house edge, needs to offer a less attractive affiliate/ betback %.


i don't play either, so i had to google "may be wrong" but it seems stake has 10% commission and the other has 50% commission, i think that's a big influence for the differences in house edge.
i don't think bchgames could compete with quality of games, so maybe they're focusing on attractive promotions.

[tortic25]

I used coin flip as an example because it's the most simple game I could think of which has only two outcomes with the same probability (50/50).
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.

You see, like many of you who write in this section, you have a certain idea of what HE is, but you don't really understand it. Where do you get that in the example you give the HE would be 2.5% if you get paid $0.95 for every $1? From dividing $0.05 by 2? Is that the logic? That as half of the time you will get heads and the other half tails you have to divide by 2?

alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout. and it still not be 50/50. While thinking, since it's provably fair, it has to be 50/50. i've seen alot of people complain about "spin the wheel" type games, where it slows down near the jackpot to build suspense.... then tick backwards. And they cry, saying it's rigged. it's surprising how some people don't realize alot of the visuals aren't accurate, like "3d slots" keeps showing 2/3 bonus triggers, it should be easier to hit it.

[EarnOnVictor]

I used coin flip as an example because it's the most simple game I could think of which has only two outcomes with the same probability (50/50).
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.

You see, like many of you who write in this section, you have a certain idea of what HE is, but you don't really understand it. Where do you get that in the example you give the HE would be 2.5% if you get paid $0.95 for every $1? From dividing $0.05 by 2? Is that the logic? That as half of the time you will get heads and the other half tails you have to divide by 2?

alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout. and it still not be 50/50. While thinking, since it's provably fair, it has to be 50/50. i've seen alot of people complain about "spin the wheel" type games, where it slows down near the jackpot to build suspense.... then tick backwards. And they cry, saying it's rigged. it's surprising how some people don't realize alot of the visuals aren't accurate, like "3d slots" keeps showing 2/3 bonus triggers, it should be easier to hit it.

Thank you for this exposition, and I've always told gamblers who often say that gambling is 50/50. I wonder where those people get their knowledge and wisdom of gambling from. From the practical outcomes we see, we should know that gambling is not without fault and the outcome could always be balanced in the favour of the house. This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?

This is the issue, and even if the casino tells you that they have this edge or that edge, one should never trust that but just continue to play with some degree of the benefits of the doubt. Above all, let us try as much as possible to locate reputable casinos that are liquid and that have a huge customer base. I am sure that the issues will be lessened with them because the customer base alone is enough for them to always be achieving their periodic targets and not strongly depend on manipulations.

[khaled0111]

This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

[Hispo]

This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Correct, that is a quite common misconception I have seen before,.specially from newbies who do not understand how seed verification and probably fairness works in the first place.
If we lived in a ideal world, all the software used by casinos and game providers would be open source and this could give undeniable access to the way those games work, though, that is not going to happen anytime soon. because it would be imply an oversaturation on the market by services which would be always the same thing one and over again.
that is why probably fairness was conceived for in the first place, so people can make sure they are not being ripped off by the casino, within the need to verify the source of it running on the background.

As mentioned, it is not only a system about using one's seed to generate the entropy to get a result, the fact cryptography also allows the gambler to verify the result and the seed are related is the true game changer when we talk about fair games and fair gambling .

it is a topic worth investing some time to read about.

[Mr.sprin]

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Yes, bro, talking about casinos, in my opinion, it's a matter of luck and we can be clever so we don't get cheated, sometimes there are also those who jump into casinos with high passion and have a lot of capital and the way of playing can't be mastered carefully so they can easily be cheated. casino games because not only do they benefit us because casino games in my opinion are already high level games for senior gamblers with enough experience and are not easy to trick, because they also usually have a backing at the back so they can't be cheated by them, that way it will make him profit and cannot be cheated by mere trickery.

[DaNNy001]

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Yes, bro, talking about casinos, in my opinion, it's a matter of luck and we can be clever so we don't get cheated, sometimes there are also those who jump into casinos with high passion and have a lot of capital and the way of playing can't be mastered carefully so they can easily be cheated. casino games because not only do they benefit us because casino games in my opinion are already high level games for senior gamblers with enough experience and are not easy to trick, because they also usually have a backing at the back so they can't be cheated by them, that way it will make him profit and cannot be cheated by mere trickery.

I really don't get the essence of what you are saying though, is it that you are saying the casino actually cheat their users by altering the results of some of their casino games or what? Because the overall experience and impression I have about most casino games is that it's already system designed and the results are way harder to predict than that of ordinary sportbet games and that's why if I ever want to play or bet on any casino games I just go with the impression of I might be lucky because I have already given the house the bigger chances of winning so that if the results isn't of my favor I won't get angry or even suprised. But of my poker and roulette friends say it's quite easy for them to play these games of which I really don't know how they do it.

[rodskee]

I used coin flip as an example because it's the most simple game I could think of which has only two outcomes with the same probability (50/50).
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.

You see, like many of you who write in this section, you have a certain idea of what HE is, but you don't really understand it. Where do you get that in the example you give the HE would be 2.5% if you get paid $0.95 for every $1? From dividing $0.05 by 2? Is that the logic? That as half of the time you will get heads and the other half tails you have to divide by 2?

alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout. and it still not be 50/50. While thinking, since it's provably fair, it has to be 50/50. i've seen alot of people complain about "spin the wheel" type games, where it slows down near the jackpot to build suspense.... then tick backwards. And they cry, saying it's rigged. it's surprising how some people don't realize alot of the visuals aren't accurate, like "3d slots" keeps showing 2/3 bonus triggers, it should be easier to hit it.

this means one thing , those who gambles online is still not ready to accept their faith in gambling ,
when they gamble keeps looking for wins but does not  know that gambling casino is here to take our
money but to bring us happy time( casino  are fun provider but not to take money from us lol)

[Fivestar4everMVP]

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Yes, bro, talking about casinos, in my opinion, it's a matter of luck and we can be clever so we don't get cheated, sometimes there are also those who jump into casinos with high passion and have a lot of capital and the way of playing can't be mastered carefully so they can easily be cheated. casino games because not only do they benefit us because casino games in my opinion are already high level games for senior gamblers with enough experience and are not easy to trick, because they also usually have a backing at the back so they can't be cheated by them, that way it will make him profit and cannot be cheated by mere trickery.

Sorry, but I guess you are completely unsure of what you are even saying, losing in casino games does not equate or translate you being cheated on or tricked, and it will also interest you to know that in playing casino games, there are no special formula for winning, and how long you've been gambling or your overall gambling experiences has nothing to contribute to the outcome of your games, for even if you have been gambling for 100 years, you can play casino games and lose woefully if luck is not on your side, while some one who just started gambling the previous day will come around and hit a jackpot out of the blues, this tells us that, outcomes in playing casino games has nothing to do your a level of gambling experiences.

The only thing experience does for a gambler is that, he help them know which game to choose to play, games with better house edge and better chances of hitting a jackpot, and experience also helps a gambler to know when to practice conservative gambling, and when to take the risk of going all in.

[Kriptogram14]

alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout.
this means one thing , those who gambles online is still not ready to accept their faith in gambling ,
when they gamble keeps looking for wins but does not  know that gambling casino is here to take our
money but to bring us happy time( casino  are fun provider but not to take money from us lol)

Gambling does not always make us profit, but there are times when it also gives us losses, but no one can predict that gambling always makes a profit, there is no guarantee that gambling will make us always win, often we are defeated by winning at the start of the game, so that we are passionate about the winnings that have been given at the start of the game, because gambling is a 50 50 prediction, 50 gain 50 loss, no one wins continuously, there are also benchmarks, they are defeated at the beginning and won at the end, there are also those who start from the beginning They are always defeated until the end, but usually people who are often defeated will continue until they get satisfactory results, even though they have been at a disadvantage from the start.

[EarnOnVictor]

This is not about the provably fair of a thing, as it could be proved to you now that it is provably fair but later adjust it, and even those provably fair we see are not as they claim because, which company will make their platform to be an open source for people to painstakingly and sincerely verify?

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Oh, I love that, I am always open to corrections, and thank you for trying. But the fact is that I quite understand you, but it seems you did not understand my point. I know a lot about the provably fair in casinos and I wrote a thorough post about it a while ago, which is beyond the mere publication by the casino but how to go about some ways to have a test on it. Fine, this is to prove some level of transparency and fairness, but is it truly true? Can you vouch that what the casino tells you is 100% true? That is where my remark comes in, and judging by how I constructed it, it's a figure of speech but easy to understand if you read it insightfully. No one is saying that an open source as we often see in some crypto projects must come into play with casinos, especially a centralised one, but just saying that it will have to come into play before the casino can be trusted 100% or close. These are two different things.

Now, the question is, can casinos let you have access to all that they do? Certainly Not, because this is a company we are talking about and the more they allow access, the more the security breaches. For this, we can only trust casinos by giving them some benefits of the doubt and holding them for their word relatively. But certainly not entirely because what they tell you and even what you have some degree of provably fair play with may not certainly be true. That's my plight there.

[kotajikikox]

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Yes, bro, talking about casinos, in my opinion, it's a matter of luck and we can be clever so we don't get cheated, sometimes there are also those who jump into casinos with high passion and have a lot of capital and the way of playing can't be mastered carefully so they can easily be cheated. casino games because not only do they benefit us because casino games in my opinion are already high level games for senior gamblers with enough experience and are not easy to trick, because they also usually have a backing at the back so they can't be cheated by them, that way it will make him profit and cannot be cheated by mere trickery.

Gambling is becoming on how we are treating this , example if you are gambling to have fun then you will never let yourself losing tons of money but that is far different if you wanted to become instant millionaire because that is the way why people ending up losing everything that sometimes bringing troubles even in their own family and friends.
try not to brag yourself from irresponsible gambling instead know when to stop and when to start.

[doomloop]

Gambling does not always make us profit, but there are times when it also gives us losses

You are making it sound like gambling gives us losses only at times and wins at most times which isn't how it works because in gambling, there are mostly losses and wins sometimes because casinos are not created to make money for gamblers but they are created to make money for their creators and owners, so it's mostly the house that wins and gamblers lose their money and only sometimes the gamblers manage to win something as well.

A gambler who gets into gambling because they want to earn money will eventually come to know that they were delusional and it is not possible for anyone to achieve that from gambling, so it's better that a person understands this before they get into gambling so that they don't lose a lot of money.

[rodskee]

alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout.
this means one thing , those who gambles online is still not ready to accept their faith in gambling ,
when they gamble keeps looking for wins but does not  know that gambling casino is here to take our
money but to bring us happy time( casino  are fun provider but not to take money from us lol)

Gambling does not always make us profit,[size=15ptbut there are times when it also gives us losses,

lol it is not there are times but instead MOST OF THE TIME that gambling brings us losses instead of winning.

there is no guarantee that gambling will make us always win, often we are defeated by winning at the start of the game, so that we are passionate about the winnings that have been given at the start of the game, because gambling is a 50 50 prediction, 50 gain 50 loss,

another wrong perception , 50/50 win loss? lol do you really gamble? do you experience that 50/50?
because for the years that i gamble? never that  i have that percentage instead its 30/70 win/loss
or sometimes even higher than those .

no one wins continuously, there are also benchmarks, they are defeated at the beginning and won at the end, there are also those who start from the beginning They are always defeated until the end, but usually people who are often defeated will continue until they get satisfactory results, even though they have been at a disadvantage from the start.

if you are friend of luck that day? maybe you can win continuously but that has limit and you must
know when to stop.

[bitterguy28]

Just a small correction, a provably fair game hasn't to be open source as you suggested. All you need to know as player to verify the fairness of a game is how the outcome is determined and the variables used to determine this outcome.
Also, you can verify all the results at any time you want. So, it will be easy to know when the casino start manipulating the results.

Yes, bro, talking about casinos, in my opinion, it's a matter of luck and we can be clever so we don't get cheated, sometimes there are also those who jump into casinos with high passion and have a lot of capital and the way of playing can't be mastered carefully so they can easily be cheated. casino games because not only do they benefit us because casino games in my opinion are already high level games for senior gamblers with enough experience and are not easy to trick, because they also usually have a backing at the back so they can't be cheated by them, that way it will make him profit and cannot be cheated by mere trickery.

whatever we wanted to deal with crypto casino that is depending in what you can achieve and contain because there are  things that may bring us to negative or positive effect.

some who gambles with lots of money are mostly the one that will lose more and will feel sadder than those who have smaller amount , because at least they only need to recover that amount.

trick and cheats are part of casino specially in online that you don't even know what you are dealing directly because everything is in the system and not in physical form.