All gamblers know that even if they have a lucky break now and then, or even a lucky streak, the casino will inevitably win because of an inbuilt house edge. After all, why would operators be in this business unless for the prospect of making money?
Of course, online casinos keep the house edge very low in order to retain their customers and stay competitive. If you enjoy gambling online, then you would have no doubt picked a casino that advertises the lowest house edge. You’ll be happy to know, therefore, that some operators are considering running online casinos with no edge at all.
Is Zero House Edge Possible?
Having edgeless casinos is, without doubt, a brave and risky concept but it is certain to appeal very much to players. In fact, if this concept takes off then it can very well become the future of online gambling.
Edgeless.io is one of these new generation casinos. It is a gambling site that does not have any house edge. Furthermore, it will make use of Ethereum Smart Contracts to ensure absolute transparency of all actions. Naysayers are of the opinion that this concept has no chance of working. However, the people behind the casino say that it is possible to make money from players who do not follow the right playing strategy. In other words, they feel that it is not necessary to fix the games to retain the traditional mathematical edge.
Casinos Make Money In Spite of Zero House Edge
A lot of research has gone into the subject of house edge. Experts have worked out that casinos gain money even if there is zero house edge since the average player will always make mistakes while gambling on games that require some strategy. Needless to say, this is not true for games that depend entirely on skill, such as slots.
It is fair to say that Edgeless.io has done its homework well, and will only offer blackjack at the outset, soon to be followed by dice and video poker. Since skilled blackjack or poker players make money when their opponents play badly, the casino can also benefit in the same way from players who have not come prepared.
The team at Edgeless.io are firmly of the opinion that going without a house edge will give them a competitive advantage over other casinos with more conventional styles of operating. The gambling site also expects to earn revenues from its sportsbook that retains a house edge, albeit a very small one.
Edgeless.io: An Example of a Zero House Edge Casino
Edgeless.io will also be the first one to use a crypto currency platform called Ethereum blockchain. This platform offers a greater degree of flexibility and speed to online monetary transactions than Bitcoin. More importantly, this will help deal with the problem of mistrust. At present, players have to take gambling sites at their word that the games use Random Number Generators to be absolutely fair. However, if sites start to use Ethereum Smart Contract, then they will not be able to hide any transactions. Others will be able to look into their servers to check if all transactions are fair or not.
The promoters of Edgeless.io will soon be starting a crowdfunding campaign to raise money for the casino. This will also pay for future developments. They are very optimistic that blockchain and cryptocurrency will become the norm of the online gambling industry once this casino becomes a success. After all, they feel, why wouldn’t players want to be part of a fully transparent gambling system? It remains to be seen whether the market welcomes this concept and to what level it does so. If it does it can bring about revolutionary chances in the industry.