Giving misleading house edge info which is significantly higher than advertised
Hello,
I'd like to start this off by saying how ridiculous a 50% house edge is. It is unheard of, that an established casino will take 50% of all your winnings as a house edge, meanwhile advertising the game to have one of the lowest house edges, set at 1%.
I continue betting because I trust the website I've used for a long time. I've even asked in chat why literally every time I have a betting session, I have twice as many losses as the house edge advertised, I've always been replied to with a simple ''better luck next time'' when in fact, there will never be a "better luck next time" since the house edge was never changed.
I've added a screenshot showing what the casino claims is the house edge, as well as a screenshot of the game itself, showing the chance of winning and the multiplier at which the game pays out.
As you can see, the multiplier at which it pays out, is set at ''1.0102x''. For simplicity's sake, I've rounded the house edge up to 50% (it is fairly close, but just under that, because of the 0.0002 difference)
The 2 at the end is most likely set to confuse players, so they don't realize how insane the house edge is, since at 1.01x it is a lot easier to do the math, and even though it's practically the same number, I doubt many people will be bothered to actually check it.
Now, the chance of winning this bet, is 98%, meaning on average you will win 98 out of 100 bets. With no house edge, the chance should be 99% with an average of 99 wins out of 100 bets, which lets be honest, is a pretty big difference.
If you're betting 100 dollars each time, if you get the most likely statistical outcome (98 wins 2 losses), you will be left with negative 101 dollars (98x1.0102 - 2x100) when with a house edge of 1%, you would be left with negative 1 dollar (99x1.01 - 1x100)
This is probably one the game modes I have the most bets on, since I love betting on a high win chance low payout, where I can stop any time I start hitting many losses (instead of a low win chance, where it can spiral out of control way too fast)
I find it incredibly unfair to take 50% of someone's winnings just because they play on your casino.
I've attached a screenshot of my wagered amounts as well as my overall profit (which also accounts for sports winnings but the number should be fairly close) The main currency to check the profit for, is Ethereum, which is at over negative $10,000
I am unable to get separate dice game bet screenshots, as they delete your old bets. They do store your bets in the bet archive, but you must download every single day of betting separately, and they're stored as ''json'' files which makes it impossible to get an accurate estimate, especially considering I have over 3 million bets made on the website.
I have over $600,000 wagered on the website, I've lost over $1000 on the dice game, and seeing as the house edge stole half of my money, the amount I will settle for is $500.
The number $1000 was chosen to keep it fair to the casino. I have lost more than that on the dice game mode, but because it is impossible for me to prove that (due to the bet deletion and cluttered bet archive), I had to choose a lower number I am confident is less than the amount I've actually lost.
If the casino would like to object to the number chosen, I'd be glad to cooperate, but I doubt they will since it will only hurt them more in this case.
P.S. I'd like to note, that literally nowhere on the site does it mention that the dice game mode has a 50% house edge, not even in fine print. They are hiding this fact for a reason.
I'd like to start this off by saying how ridiculous a 50% house edge is. It is unheard of, that an established casino will take 50% of all your winnings as a house edge, meanwhile advertising the game to have one of the lowest house edges, set at 1%.
I continue betting because I trust the website I've used for a long time. I've even asked in chat why literally every time I have a betting session, I have twice as many losses as the house edge advertised, I've always been replied to with a simple ''better luck next time'' when in fact, there will never be a "better luck next time" since the house edge was never changed.
I've added a screenshot showing what the casino claims is the house edge, as well as a screenshot of the game itself, showing the chance of winning and the multiplier at which the game pays out.
As you can see, the multiplier at which it pays out, is set at ''1.0102x''. For simplicity's sake, I've rounded the house edge up to 50% (it is fairly close, but just under that, because of the 0.0002 difference)
The 2 at the end is most likely set to confuse players, so they don't realize how insane the house edge is, since at 1.01x it is a lot easier to do the math, and even though it's practically the same number, I doubt many people will be bothered to actually check it.
Now, the chance of winning this bet, is 98%, meaning on average you will win 98 out of 100 bets. With no house edge, the chance should be 99% with an average of 99 wins out of 100 bets, which lets be honest, is a pretty big difference.
If you're betting 100 dollars each time, if you get the most likely statistical outcome (98 wins 2 losses), you will be left with negative 101 dollars (98x1.0102 - 2x100) when with a house edge of 1%, you would be left with negative 1 dollar (99x1.01 - 1x100)
This is probably one the game modes I have the most bets on, since I love betting on a high win chance low payout, where I can stop any time I start hitting many losses (instead of a low win chance, where it can spiral out of control way too fast)
I find it incredibly unfair to take 50% of someone's winnings just because they play on your casino.
I've attached a screenshot of my wagered amounts as well as my overall profit (which also accounts for sports winnings but the number should be fairly close) The main currency to check the profit for, is Ethereum, which is at over negative $10,000
I am unable to get separate dice game bet screenshots, as they delete your old bets. They do store your bets in the bet archive, but you must download every single day of betting separately, and they're stored as ''json'' files which makes it impossible to get an accurate estimate, especially considering I have over 3 million bets made on the website.
I have over $600,000 wagered on the website, I've lost over $1000 on the dice game, and seeing as the house edge stole half of my money, the amount I will settle for is $500.
The number $1000 was chosen to keep it fair to the casino. I have lost more than that on the dice game mode, but because it is impossible for me to prove that (due to the bet deletion and cluttered bet archive), I had to choose a lower number I am confident is less than the amount I've actually lost.
If the casino would like to object to the number chosen, I'd be glad to cooperate, but I doubt they will since it will only hurt them more in this case.
P.S. I'd like to note, that literally nowhere on the site does it mention that the dice game mode has a 50% house edge, not even in fine print. They are hiding this fact for a reason.