The edge is too high. People will run as soon as they know this.
Sorry for my bad english.
We have 5 players with the same bet (for example : 0,005 btc).
Every player chooses a different number from 1 to 5.
The player who falls on the number releases lost 100%.
The others 4 players wins
24.75% (4x24.75% = 99% payout).The people who makes the game takes
1% (-fees of transaction to others players).
I don't want to make that game, it's just an idea.
Don't insult me thank you.
Fixed your %'s to make it an actually competitive idea.
Yeah, this is a far better version of the idea.
Seems the op was just to explain the game than throwing out the percentage for the house. The hourse would only be able to charge less than 2% , which is on;y what will justify it.
Well, there are two limitations with the concept.
1) players don't like waiting for other players.
Which could be solved by making it player vs site.
2) Odds are fixed.
If we fix these two, it will either become a dice(fixing both)} or a lottery (that increases win amount with multiple players)(fixing 2)
The only advantage over those two is the house will earn a fixed fee.
