What sets us apart from other gambling websites is that we run a 0% house edge game. Instead of implementing a house edge like all other dice sites, we implemented a Player Versus Player system instead. With a player vs player based game, the players will win more, andeven if they lose, there will always be an actual player winning instead of the house.
This is false.
With the house taking a 2.5% commission, they will ALWAYS win.
It really doesn't make a difference whether they take 2.5% via an edge in the actual game, or as a commission off the top.
I don't think there's anything wrong with doing either or. It's the deceptive advertising that I think needs to be brought to the public attention.
if you think it is deceptive then please help us describe it in a better way but to say that we have a house edge is also wrong because it would not apply for bithorse since it charges a percentage of the pot. Why would you want to connect escrowing fees to house edge, these two are just different.
We have 2.5% gambling house escrowing and winnings distribution fees. We have 0% house edge to win against you. Your winning odds are always against other players in a 20% per horse. Fair enough as a statement?
First of all, I don't think it's unreasonable at all to take the 2.5% (in fact I believe in US paramutual wagering around 20% is taken by the track and government), its just the heavy advertising of 0% house edge.
I understand your point that the house is just taking a "fee" unlike most casino games. However, that doesn't mean the house has no edge.
Wizardofodds.com is probably the most reputable source gamblers have. Note how he lists the baccarat banker bet is listed with a 1.06% house edge, this is collected as a commission. Also the definition:
"The house edge is defined as the ratio of the average loss to the initial bet. "
If you are taking 2.5% of each bet, the average loss will be 2.5% = the house edge. If the house edge were 0%, a player should expect all bets to have 0% equity. (before any skill variable)
http://wizardofodds.com/gambling/house-edge/