Post
Topic
Board Gambling discussion
Re: 16x win on Chain-Bet.com with 0% House Edge!
by
MarbleBoss
on 08/02/2017, 11:59:42 UTC
Also, they do have an house edge, since they take BTC from your original bet. Send 0.01BTC? It's a 0.0098BTC bet to them, which adds up to a house edge. The house edge varies based on bet size, but there definitely is a house edge.

You are confusing House Edge with processing fee. As chain-bet.com is a blockchain based game, they deduct BTC 0.0002 to cover their mining fee. This deduction is clearly stated when u generate an address as well as it is mentioned in their FAQ. Especially, now, as the Tx fee pressure is rising, I wonder, how they still cover with such a low fee! On the other hand, House Edge is simply the probabilistic edge house enjoys over gamblers, which has no distant relation with processing fee whatsoever.