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williamshennie9

Does the house edge affect rationality?

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Hey everyone :)

As we all know, different casino games have different house edges. So this got me thinking, logically, why would you play a game with a house edge of 10% (such as a slot machine), vs a game like blackjack with an average 0.5% house edge?

The only conclusions I came to is that people do it for the thrill of playing slots, or because the high jackpots are very appealing to win, even though the odds are heavily stacked against you.

Let's link this to an example on Stake - why do players place a bet on the colour red in roulette, instead of dice 2x? I mean, there is a far higher chance of the ball going into the zero, than there is of the dice rolling between 49.50 and 50.50 (just using statistics). So why do people bet like this on roulette? It must be for the thrill, because the payouts are the same, the only difference is roulette has a ball, and dice does not.

So what do you all think? Does the house edge affect the rationality of players, specifically you? It clearly does not affect everyone, because at my local casino, the slot machines are crowded, people are always playing slots. I'd love to hear what you think :)

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you know - in a brick&mortar casino "the edge" is just the probable/expected profit of that which is gambled. if 100/hr is gambled, the house makes 1 dollar. .. i don't know what the fuck the edge is here, but i don't think it is exactly that- and something quite different. 

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1 hour ago, williamshennie9 said:

Hey everyone :)

As we all know, different casino games have different house edges. So this got me thinking, logically, why would you play a game with a house edge of 10% (such as a slot machine), vs a game like blackjack with an average 0.5% house edge?

The only conclusions I came to is that people do it for the thrill of playing slots, or because the high jackpots are very appealing to win, even though the odds are heavily stacked against you.

Let's link this to an example on Stake - why do players place a bet on the colour red in roulette, instead of dice 2x? I mean, there is a far higher chance of the ball going into the zero, than there is of the dice rolling between 49.50 and 50.50 (just using statistics). So why do people bet like this on roulette? It must be for the thrill, because the payouts are the same, the only difference is roulette has a ball, and dice does not.

So what do you all think? Does the house edge affect the rationality of players, specifically you? It clearly does not affect everyone, because at my local casino, the slot machines are crowded, people are always playing slots. I'd love to hear what you think :)

Well it's mainly because of the following

  1. Since one game might be more fun to play over the other game.
  2. Losses incurred in one game are less over the other one.
  3. Maybe because the chance of winning all the bets are high in one game than the other one. 

These are the reasons that comes to my mind. 

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I dont think the house rate would affect rationality. I would imagine that be more on the different risk that a bet has. 

Though you make a good point with the slots mention. Its a lot more of a thrill and i dont really ever think about the high house edge on slots, because of how fun it is so i guess it does. 

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House edge doesn't affect me at all. Even if there would be a 20% house edge, if I like to play something than I'm going to do it. I keep saying this and I belive its true: it's all about luck. House edge could be 50% but if you are lucky you can hit the biggest jackpot and just take a lot of money from that casino even though their house edge is so big. Of course, 50% is very exagerate but I was just trying to explain something. 

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That's truee, much more affected to the other players. I don't know why that happen to some people. If i, i used to like playing dice more than roulette because of, i think it's same Payout and the dice more simply than Roulette

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I love slots I don't ever care what the house edge is so I guess it does not bother me what it is but it would be pretty cool to see what it was playing on different sites for slots anyway.  I just play it because it is fun and is awesome when I get a big hit.   The bonus and free spins are always fun to not to mention the designs can make it more appealing also. :)

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I think that it might just be basic human nature to get excited when they manage to score a win/profit when they are all against the odds. :D

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Heavy recreational gamblers will often gamble with bad odds and still have fun.  I think most people try to stay away from 90% payout slots and try to go for something higher.  I feel better knowing I'm playing one percent game, its a very reasonable fee to gamble and have some fun.

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On 1/10/2019 at 7:46 PM, Etude said:

I think that it might just be basic human nature to get excited when they manage to score a win/profit when they are all against the odds. :D

Makes a lot of sense actually - I suppose this is the thrill that I was talking about. Possibly a similar feeling to winning a lottery against all odds :)

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Where can we read moreabouthouse edge and how it truely affects the games/bets? im curioys in learning more about how it works. Theres been explanations from players, but realky would lime to read the official note about it so theres no confusions on which players explained it the best.. lol xD

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I don't really care about house edge personally. What I do care and what factors into my gameplay is how much control I have over a game outcome. This means I'll probably never play games like Diamond Poker/Wheel etc, unless for fun and challenges. 

House edge has a certain sting to it, which is it might strike when you are betting low or high, and the overall % is still the same. Lets say losing 51 in 100 games of 2x dice makes it 1% house edge, that 1 extra loss could either happen at base bet of 10 satoshi or something, or it could happen when you were feeling confident and betting 1 BTC, and the net profit/loss is hugely different whereas statistically it's the same. Thus I don't suggest caring too much about it.

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On 1/9/2019 at 4:08 PM, williamshennie9 said:

Hey everyone :)

As we all know, different casino games have different house edges. So this got me thinking, logically, why would you play a game with a house edge of 10% (such as a slot machine), vs a game like blackjack with an average 0.5% house edge?

The only conclusions I came to is that people do it for the thrill of playing slots, or because the high jackpots are very appealing to win, even though the odds are heavily stacked against you.

Let's link this to an example on Stake - why do players place a bet on the colour red in roulette, instead of dice 2x? I mean, there is a far higher chance of the ball going into the zero, than there is of the dice rolling between 49.50 and 50.50 (just using statistics). So why do people bet like this on roulette? It must be for the thrill, because the payouts are the same, the only difference is roulette has a ball, and dice does not.

So what do you all think? Does the house edge affect the rationality of players, specifically you? It clearly does not affect everyone, because at my local casino, the slot machines are crowded, people are always playing slots. I'd love to hear what you think :)

haha true my friend, well basically is a thing of feeling i suppose, or, because they know the roulette... every player has his preferences, that are not perpetual, but roulette has millions of fans over the world, its a more slowly game than others, perhaps roulette is better adapted to some kind of players.... perhaps they had better chance to win in the past here... who know...

And don't forget another urban legend that roulette is the most fair game in casinos... lots of players think this too.

Personally i peffer to change the game after a while, to avoid to be bored.

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