To be honest, I do not know if you concept would catch on. When you gamble on other sites, you know what the house edge is and it is usually between 5% to 10%. < These gamblers have a good chance to win back between 90% to 95% of the money they gamble and sites with a higher house edge, sometimes gives a rake back option for people to get back even more >
Let's say Bob keep on losing, because his share of the "Jackpot" is always in Alex's favor, then he will eventually stop gambling. The guys with the big pockets will crush the gamblers with the smaller pockets. In the off chance that Bob does win, he would have lost a lot more than Alex and he will not have more money to gamble anymore.
The trick with gambling sites is to create a scenario where the gambler think that he is winning the house and that incentivize him or her to come back and to gamble more. What motivation is there for Bob with the smaller pockets to come back?
Have you tested this with friends and family and what was their feedback?
Hey thanks for your response.
2 things to say:
1. Mathematically your method won't work. In the long run doesn't matter how much you bet your expected value is always negative due to the tax on the profits.
This is more like a proof of concept. The game is basically done. More stuff can be added on easily. For example capping the max that a player can do in one round. we can also add multiple rooms where there's a minimum and a maximum bet player can make.
2. and yes I have tested it with friends and family and I've also made it live for about 1 hour. I linked it in bustabit chat and 10 users created an account instantly. 3 players deposited Bitcoin and played for 1 hour. They loved it so much that the next date they messaged me on bustabit asking if I could make the website live again so that they could play.
essentially everyone that I've talked to said the website is super addictive and very fun to play. There's get more of a rush gambling because they're versing each other rather than the house itself. The only feedback that I've gottenwhich is negative is for the user interface which I have improved on since that video that I posted.
If you are interested in the website, I could always do a live demo with you over a discord call or a Skype call and go through all the code and how to play and whatever questions you have I can answer.