I see so the house edge is in fact 0.5%.
Your claim of no casino offering a flat 50/50 edge is not relevant when the multiplier is not 2.
Plenty of casinos offer a flat 50% win chance with multipliers of 1.9 to 1.99.
edge:
Odds Bet Payout
49.5% 1 2
edge:
Odds Bet Payout
50% 1 1.99
^ is the same, its just being laid out differently, your casino does the 2nd option which many other casinos do.
but in your favour it seems you have 1 of the lowest house edges.
it has no use to have 50% if it is not to win 2x.
It's a
huge difference between a 1% rake and a 1% house edge. The chance to win at this is 50% and not 49.5% it would have been if there was an house edge.
actually the difference is not huge, its 0.5% instead of 1%.
and you can have 50% win chance with a house edge..... its not that hard to understand, maybe this helps:
http://memslist.com/index.pl?action=house_edge_form