I cannot for the life of me, understand how a casino with a 100% house edge, can be sustainable?
How do you pay your expenses, if the house takes no profit from the bets? They must over charge you for something else, if they do not profit from the gambling.
Please explain this in more detail.
Hello, 'Kakmakr', UMG takes 0.1% of every bet. 1 x 0.001
So essentially for every group of bettors, each bet, 99.9% is dispersed back to a random selection of the players.
This, system is sustainable, due to the fact that it is functioning as a lottery, allowing all the money to go back, without the house's money being put in jeopardy.
- The fee is so small, that users are not majorly affected, likewise enabling users to experience much more benefits.
- The house's money is not put in jeopardy by users winning money, you can win and lose however many times, you want with no limitation.
- The system will not limit the amount of money it will payout to users, because that is solely contingent upon how much money is put in.
In essence, the function of a lottery, can only pay back a maximum of, what was put into it, so at no point in time, can the system incorrectly pay a user an amount it is not capable of paying. And the system cannot go bankrupt from users winning either.
Likewise,
To answer your question, the house does take profit from bets. The RTP is just so high I rounded it up to 100%.
The actual rtp is 99.9%
Bitcoin Talk Forum, is only a small fraction of users on the UMG.
You are just aware of UMG, because it needs to be circulated within all audiences.
I have heard of UMG after reading your topic. Everyone is familiar with house edge though. So in you topic you are basically introducing UMG and suggesting others to use proper terms.
That is correct, but UMG, allows users to manipulate their luck, to have a better chance of winning versus other users.
Explain that better, otherwise you're earning a red tag.
Is this what a DT became these days? I have no idea if there is a past issue with this user but literally you are threatening a member of the forum to get their opinion LOL
I have heard of UMG after reading your topic. Everyone is familiar with house edge though. So in you topic you are basically introducing UMG and suggesting others to use proper terms.
Correct, yes.