Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CHA] Chancecoin protocol, client, and coin for decentralized dice betting
by
bingjiw
on 08/04/2014, 01:08:15 UTC

Right now the risk for the "site bankroll" is 1/2 kelly kriterion. If we would change the house edge to 1% we could then keep the kelly criterion constant at 1/2 Kelly by setting the max profit to 0.5% site bankroll.

How do you propose do we ask the community? because i'd rather change this soooner than later.



Do you know that Just-dice.com is 1% house-edge and 1% max profit?  But some big whales winned a lot and make the house lose a lot.  It's a disaster for a dice site run with 1% house-edge and 1% max profit.

But as I re-think about it.  The difference is that the house of Chancecoin won't lose a bit when the player wins, because only the player's balance changes.

So, It is more safe for Chancecoin to run 1% house-edge than Just-dice.com.