Zero House Edge Blockchain Casinos
Both real bricks and mortar and online casinos will need to have a house edge, as that’s the means whereby they make their money. This gives them the long term profits and makes it all worthwhile. Knowing the house edge on the various games on offer means that you can tailor your gambling experience with your bankroll and help ensure both a better gameplay, and a better chance of winning. But how about a casino that offers a house edge of zero. That’s right, no house edge at all!
If you do a Google Search, then you’ll find a couple of online casinos which offer zero house edge. They are on platforms built around Blockchain technology and are Edgeless and Zero Edge. The idea is as simple as it is revolutionary, you can play casino games without facing any house advantage. So, essentially, how does this work? If the casino has no advantage, then how can it exist? Our collective brains are starting to hurt!
What Is a No House Edge Casino?
Simply put, a zero house edge casino has no advantage in their games. So you can play roulette and blackjack without any disadvantage. Also, it’s a given that you then have a 50:50 chance of winning each bet. These new casinos are running on a decentralized app (DApps) on block-chain technology. Being decentralized is just another way of saying that these apps run autonomously and no one, not even the founders, can have control over it. All the transactions, like bets, are up on the block-chain for everyone to see. To that end the block-chain itself serves as a kind of digital ledger, recording every action.
How Does a Casino Benefit from Zero House Edge Games?
This is the six million dollar question. In truth, there are a couple of ways. The first is that they will run an initial coin offering (ICO) and then they’ll keep back some of these shares for themselves. Essentially they let the public buy into their crypto-currency via tokens. Obviously, the investor wants to see his tokens appreciate in value. By hanging on to a portion of these tokens, then the founders can retain value, which they too, hope to see a rise in the near future.
The second method by which the casinos make a profit is via skill-based games. For example, a game like blackjack or video poker will have a variable house edge depending on your skill level. By making the right moves, you can lower the house edge. Conversely, any strategy mistakes will see you punished with a higher house edge, thus lowering your chances of winning. If you are able to play with perfect basic strategy, then the house edge will remain at zero, thereby increase your jackpot winning chances. The casino is banking on the fact that the vast majority of players don’t have those skills.
Looking at the numbers, we can see that Edgeless Casino has a house edge of up to 0.83% on their video jackpot poker and blackjack games. So, just keep in mind, that the prospect of a truly zero house edge is only theoretical when playing skill-based casino games.
You’re Flipping Coins with a Casino
Playing a zero house edge game with the casino is pretty much equal to flipping a coin with them. If you take a look at zero house edge roulette for example, you’ll find that the roulette wheel is missing both the US double zero and the single zero. This puts you on the same footing as the casino itself. Even though some games will require you to play perfect strategy in order to keep the house edge down to 0%, you’ll still find it worth playing block-chain casinos over your regular ones.
Zero House Edge Block-chain Casinos: You Have a Stronger Chance to Win Money
It goes without saying, that the complete lack of the house edge in some jackpot games will give you a tremendous advantage and therefore a much better opportunity to earn some serious winnings. But do keep in mind that you are still gambling. To that end, it’s still easily possible to finish a session out of pocket. But the odds are fairly even of this happening. And still, it’s going to be a lot better than your traditional casino.
Your Tokens (Bankroll) Could Gain Value
Though we’re not suggesting that you become an overnight crypto-currency investor, be aware that you’re buying tokens, which are essentially just that. So, you may have a number of these and it’s quite possible that they can almost double in value overnight. OK…slight exaggeration, but on many days, these coins can move up or down by as much as 10% in just 12 hours. If you do buy and decide to hold (a.k.a. hodl), then it’s possible to see your bankroll increase in value in a short space of time.
Potential Drawbacks to Zero House Edge Casinos
If you go to traditional casinos to win the jackpot, then having a house edge is a pretty big disadvantage. But as with many new things, there are also some other potential negatives to take into account. One factor is that, as well as the possibility of your tokens gaining in value, there’s also the possibility of them moving in the opposite direction. So it might be better to just deposit exactly what you plan to spend and not have any leftover sitting on the block-chain. It really just the polar opposite of what we mentioned above.
Zero House Edge Apps Are Unproven
When online casinos first launched in the mid-1990s, there were many who were extremely skeptical as to whether they would gain enough public trust to allow for deposits and the handling of their monies. But as time has passed, we can see that, on the whole, there was nothing to worry about. Of course, there will always be some bad apples, in the same way, that there will always be some bad players. Crypto-currency gambling sites have yet to gain widespread approval and are, let’s face it, still really in their infancy. Acceptance is really just a matter of time. Most of us know about the block-chain, and how every single transaction is followed and logged. So though there could always be the possibility of being scammed, it’s probably much less likely.
Conclusion: Zero House Edge Block-chain Casinos
The truth is that zero house edge casinos are a wet dream for most gamblers. By removing the house advantage, the punter has a much better chance of winning. Being run through block-chain technology there are a couple of means by which these companies can still earn a living. By keeping back a portion of any public offering is one way. Another is by penalizing any gambler who plays less than perfect strategy. By making mistakes, the house edge moves upwards.
So these businesses earn their keep via player mistakes and ICO offerings. Surely this has to be better than giving up a proportion of your cash out. Right now, we see the downsides as very small when compared with the upsides of these ventures. But only time will tell as to how well punters will receive this new technology. Fingers crossed!