Gambling: how honest the blockchain casino on Tezos?
We tell how the legislators measure the honesty of the casino, whether the projects on Tezos meet these requirements and why the blockchain is suitable for gambling.
We know about two projects with classic gambling: Salsadao Gaming Hall and Tezos Degen Club. And you wondered how honestly they work? Spoiler – more honest than the average casino in Vegas.
Why is the casino always win
Gambling can be divided into two types: without a mathematical advantage in one side and with such an advantage.
An example of a game without an advantage is a coin. The probability of the loss of the eagle is 50%, and with an infinite number of games and money, each participant will remain with his money.
Casinos, bookmakers and other organizers of gambling create a mathematical advantage either in the rules of the game itself or in the rules of betting:
- Green Field – Zero in roulette. If the player puts on red or black, the probability of winning is 48.7%, and lose 51.3%;
- The difference in the coefficients in the totalizator, bookmakers and other types of bets. Even if the player puts on all possible events, the winnings will be less than the initial rate;
- The sequence of moves in card games. In Blackjack, the probability of losing is 50.28% only because the player can lose before the dealer begins to take cards;
- commission for the game. In poker, players pay poker room a commission for organizing a game-rake (RAKE).
As a result, which game you would not choose, the organizer will have a mathematical advantage. Therefore, they say that the casino is always in winning.
How to measure casino greed
In offline gambling, the probability of winning and losing in a specific game depends on the deck of cards, ball, horse or football team. But in online games everyone is controlled by pseudo-random number generators (GPSC).
At the same time, the GPSC in online gambling twists the result to ensure its advantage. In gambling, this advantage is called What is a “mempool”? a percentage of return (Return to Player, %RTP) – a percentage of the total rate that the GPSC will return to players as a winning. For example, if%of RTP games is 90%, then with an infinite number of games, users will receive 90%of all bets, and the casino will work 10%.
In jurisdictions with allowed gambling, the minimum percentage of return is indicated in the laws of the gambling business:
- Malta – 85%;
- Nevada (Laswegas) – 75%;
- Curasao – 89%.
Other jurisdictions like Sweden, Great Britain and Maine Islands do not regulate the minimum %RTP, but undertake the casino indicate its value on slot machines and sites.
In general, the most greedy legal casino can take up to 25% of the rates.
We check %RTP gambling projects on Tezos
We did not turn on the Juster.FI, because it does not have games “User against the institution”, and instead of the GSC, the outcome of the game determines real events.
The first project is Tezos Degen Club. For each game, the user pays a rack of 5%, as in poker rooms, there is no mathematical advantage.
We calculated the percentage of return on the data of the Coin Flip contract on Tzkt.Io, where the user plays against the EAC. Since February 2022, players put 238 thousand Tez and won 222 thousand Tez. Given the commissions, the percentage of return was 93.4%.
GSCh-oracle works honestly: according to Tezos Degen Stats, the eagle fell 13,452 times, tails-13 568. The chance of falling out of the eagle is 49.79%, the chance of falling out of the tank is 50.21%.
The second project is Salsadao Gaming Hall. Players do not pay additional commissions. Games in the bone and roulette are controlled by a smart contract with a dumb. Users make bets on WTZ, UUSD, KUSD, USDTZ, GSAL and RSAL.
The mathematical advantage of Gaming Hall is in the rates of bets. For example, when playing a bone at a rate of 1 WTZ per face, a potential win is 5.82 WTZ, and at a rate of 1 WTZ on three faces – 1.94 WTZ. The calculated percentage of return – 97%.
We calculated the percentage of recoil over the past 30 days on bets on WTZ. From June 13 to July 13, users delivered 293 WTZ and won 265 WTZ, and the actual %RTP amounted to 90.4 %. Most likely, at a longer segment, the percentage of return will be higher.
Now the most interesting -We found a report of the Nevada Council for Control over gambling with %RTP slot machines in the physical casino of Las Vegas. The average percentage of return per year was 92%.
That is, Tezos Degen Club and Salsadao Gaming Hall work with the same RTP %as an average casino in Vegas, although no one forces them for this.
The coolest in gambling on the blockchain is openness. The user can independently check the statistics of games and draw conclusions about the honesty of the project.
At the same time, %of RTP in TEZOS gambling projects is even higher than that of the largest offline casinos with licenses and palm trees.
The second cool moment is the lack of deposits. Among the reviews about the online casino, stories like “won a million dollars, but the casino does not want to give it to!””. There is no such thing in blockchain projects, because the user sends a bet to a smart contract without an intermediary-depository.
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