The owner will go bankrupt

[Traffic4u]

if all the btc games provably fair.

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[chaosPT]

if all the btc games provably fair.

So which casino do you mean thats not provably fair ?

[ranochigo]

The owner will never go bankrupt if the house edge exist. House edge prevents the owner from falling into the negative range most of the time.

[chaosPT]

The owner will never go bankrupt if the house edge exist. House edge prevents the owner from falling into the negative range most of the time.

In that case  you will need a big bankroll to prevent that .

[Traffic4u]

if all the btc games provably fair.

So which casino do you mean thats not provably fair ?

I knew one, i didn't know it's a bug or not,  i told the owner a week ago, but it happened again.
I lost some coin by the same way.

[deadley]

if all the btc games provably fair.

So which casino do you mean thats not provably fair ?

I knew one, i didn't know it's a bug or not,  i told the owner a week ago, but it happened again.
I lost some coin by the same way.

This discussion is  worthless till you dont mention site name, without that how we will say anything.

[CaptainBeck]

if all the btc games provably fair.

So which casino do you mean thats not provably fair ?

I knew one, i didn't know it's a bug or not,  i told the owner a week ago, but it happened again.
I lost some coin by the same way.

Any real casino should have an edge otherwise they will fail.

[hodlmybtc]

If the owner has a positive (provably fair) edge and a large enough bankroll and adjusts the maximum payout to the bankroll there is zero chance he will go bankrupt.

Provably fair just means it can be proven that the house edge is what it is and can not be manipulated by the owner/admin.

[Traffic4u]

if all the btc games provably fair.

So which casino do you mean thats not provably fair ?

I knew one, i didn't know it's a bug or not,  i told the owner a week ago, but it happened again.
I lost some coin by the same way.

This discussion is  worthless till you dont mention site name, without that how we will say anything.

Not now maybe, i keep playing there, if it's a bug they should fix it, i told them twice.

[hodlmybtc]

So does the house have a negative edge there? Or a not provably fair positive edge?

If it's the first you should definately play there, if it's the second you should stop immediately hehe.

[MRKLYE]

if all the btc games provably fair.

Please OP refrain from posting meaningless shit on this forum to get your post count up.

[LiteCoinUser84]

Agreed this is bizarre post... it makes no sense. The owner might go bankrupt if he doesn't have enough liquidity to cover some high stake flukes, but if the bet sizes and edge exist, the owner is never going to go bankrupt in practice.

[Marlo Stanfield]

You misunderstand what provably fair means.

It does not mean there is no house edge.

[byt411]

Provably Fair = Provably Fair.
For example, you can see a dice being rolled with your own eyes. If you roll an even number, you will get 2x your money, and if odd, nothing.
If you gamble $1 you won't get $2 back even if you win. If the house edge is 1% for example, you get $1.99 back.
That's why all gambling sites and casinos profit. No one will run a business to lose money.

[CaptainBeck]

http://dictionary.reference.com/browse/provably

Will help you out a little OP, Provably is more a measure of what the owner says and what is really going on in the odds.

[2017orso]

Indeed OP there is a misunderstanding.

Provably Fair refers to verifiable randomness in the mechanism which produces the result.

If an operation has a house edge, and institutes a reasonable maxbet, the chance of ruin is infinitely small as to almost not exist.

The smaller the house edge, the greater the variance.  If the maxbet % stays constant, the risk of ruin is virtually 0.

[chaosPT]

You misunderstand what provably fair means.

It does not mean there is no house edge.

There usually a 1 % of house edge on all casino , what happen to you and we still dint get the actually thing hapends ?

[Ashbite]

Do you even get the term provably fair mate?
Maybe its time to look up the word in the dictionary before making a topic of it

[Benjig]

if all the btc games provably fair.

I dont think so, once one man told me about a pshysical cassino where they had a non-cero roulette, yes! a roulette table with cero hause edge, and do you imagine what happened there? yes... people was still losing.

So the "fair" or hause edge means almost nothing at the time when the people win or lose unless you are doing linear bets, but you know that the people always use progressive martingales and is when they lose it all.

[dooglus]

If you gamble $1 you won't get $2 back even if you win. If the house edge is 1% for example, you get $1.99 back.

$1.98, not $1.99.  $1.98 is 99% of $2.

If you got $1.99 back, that would be a 0.5% house edge.

Consider two bets, where you win one and lose one.

In total you risk $2 and end up with $1.99

You have lost 0.5% of everything you risked.

That's a 0.5% edge.