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by fastbetshenry 3992 days ago
If one can make this work this would be huge. One could offer casino style games at a house edge of 0% (house edge = the amount that the house wins on average on every bet). This would not only be a super compelling value proposition to gamblers, it would be a huge step towards eliminating problem gambling: A gambling addict that plays at a 0% house edge would not loose money in the long run.

I run a small bitcoin casino called fastbets.io. We should talk to see if there is a potential for a collaboration (feel free to email henry@fastbets.io).
1 comments
alexjikim 3992 days ago
> A gambling addict that plays at a 0% house edge would not loose money in the long run.

This isnt true because the house edge is the average return. the individual players can have a positive or negative edge depending on their skill. this would be like playing poker without a rake.

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bobbygoodlatte 3992 days ago
Yep. Also this: https://en.wikipedia.org/wiki/Gambler%27s_ruin
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fastbetshenry 3991 days ago
Alexjikim, you are 100% right. I was thinking about classic casino games that are pure games of chance (where my statement would be correct). However, the OP crablar wants to offer games of skill where alexjikim's analysis is spot on. Would still be a huge improvement over the status quo though.

I find that Wikipedia article on "Gambler's ruin" pretty misleading. What is not mentioned there is that in a 0% edge game, the party with the higher bankroll has a lower chance of loosing it all, but she'd be losing a lot in that case. If she wins (very probable) she'd only be winning a small amount. That's still a fair game.

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