What is 0.5% House Edge ? I don't know what does it mean ? Please help me to understand it ! Thx
That's site's advantage over player.
That means if you bet
BTC1 and want to win
BTC1, you set a multiplier at x2 and your chance of winning is 49.75%. If there was no house edge, your chance would be 50%.
Every casino has some house edge, otherwise it wouldn't make mathematical sense to operate. 0.5% is very low (if not the lowest).
casino's average profit from a player's bet. For example, house edge is about 1%. That means if a players bets 1BTC, the casino keeps .01BTC as profit, and returns the other .99BTC to the player as winnings.
Just for the record, waterpile is talking about 'average'. The site doesn't take 1% (or 0.5%) from every bet. It's just, in a long term, all the amounts lost less the amounts won should give, on average, 1% (or 0.5%) of total amounts wagered in profit.
