The Generosity of Steem Based Casinos

@fairbet is an account created for the Steem Gamblers Association, SGA. The purpose is to make people aware of the state of gambling DApps on Steem and to warn users of potential dangers when risking or staking their precious Steem. Casino's and Gambling sites are for profit, some are more profitable to the house and investors than others-this implies they are worse for the players from an Expected Return perspective.

Last week we discussed the Odds or the Expected return of various gaming sites here. This week we are going to look at the generosity of the house when paying out profits to dividend holders/investors or players in general.

WARNING: IT IS NOT RECOMMENDED TO PLAY ON STEEMBET AT THIS TIME!

CAUTION: Steem-Roller is in their Beta version, be careful when investing as the site is buggy.

Steem Roller

https://www.steem-roller.com/#

This site is under a CAUTION right now, do not invest at this time because there are exploits which need to be closed. In other words, your investment could be hacked and it would be gone. DO NOT INVEST AT THIS TIME. Regardless, @klye is offering the most generous payouts to investors known on the Steem blockchain. 90% of house profits will be paid to investors at this time. The house only takes 1%, so the developer is only taking 0.1%, sharing 0.9% with investors and returning back 99% to players. Investors are not guaranteed a profit, if the site loses money, investors will also lose money. There is no known marketing budget at this time, so there are no bonuses for playing.

• Anyone can invest Steem and your investment can be leveraged
• There are no tokens, it's only Steem based
• House only takes 10% of profits
• 99.9% goes to investors/players!

CUPZ

https://cupz.io?referrer=fairbet

@cupz FAQ is very straight forward about profits. 60% goes to token holders, 10% goes to promotions, 10% goes to referrers. This should imply 20% goes to developers. Since the odds are 2% in favour of the house, this means ultimately 99.6% of wagered Steem will be returned back to players and token-holders. It is unknown if CUPZ or any related parties such as @jonsey plan on holding or gifting themselves a significant amount of free tokens. There is also no evidence of pre-mining and they have not changed these ratios. There are frequent giveaways, bonuses and incentives to play paid out in CUPZ tokens. Due to low volume, there are currently no dividends being paid out to token holders.

• CUPZ frontman @jonsey is the most transparent and fair gaming site operator
• CUPZ is currently not paying out dividends to stakeholders
• House promises to keep only 20% of profits
• ~99.6% goes to token holders/players

Kryptogames

https://kryptogamers.com/?ref=fairbet

@kryptogames has very generous odds in favour of the player, they have games where the expected return to the player is a whopping 99.5% of wagers! Naturally, this doesn't leave much profit for the house or the investor. Refers get 10% of the dice house edge or 20% of the blackjack edge. 70% of tokens are paid out in dividends to token holders, you must stake your tokens to get these dividends, traders are discluded from profits.

https://steemit.com/steem/@kryptogames/kryptogamers-collaborates-with-steem-engine-upcoming-token-launch-details

Read the above post by Kryptogamers for details on their token. They have a complicated system but ultimately the house only keeps 20% of their already low profits, paying out 80% to token holders. It seems like 25% of the tokens will be kept for the house (developers, the team and operations.) 5% of tokens are reserved for questionable means. 60% are for players and 10% is for marketing. Ultimately it seems like the house keeps 20% of 1% or 0.2% plus they will keep 25% of the remaining 80% of profits for token-holding, so another 0.2% for a total house take of 0.4%. Keep in mind, the odds are lower than 1% in favour of the house due to insured bets, blackjack and video poker. In short, Kryptogamers is very generous to stakeholders and players.

• Kryptogames is the MOST GENEROUS GAMING SITE for players/investors
• Due to best-expected return to players dividend payouts are low
• Over 99.6% goes back to players/token-holders

Epicdice

https://epicdice.io/?ref=fairbet

Epicdice pays out 98% of wagers back to gamblers. Refers get 10% of the 2% house edge or 0.2%, this used to be 12.5% but was changed by @epicdice and confirmed by @blocksensei to be their right. Now it says the 10% is permanent but they do reserve the right to change this at any time!

They automatically payout dividends to token-holders, this is preferable to Kryptogammers where you must collect your dividends manually. Their token mechanism is explained in a post by @epicdice here Basically the house keeps 50% of profits, then pays the rest to token holders. They hold 30% of tokens themselves and reserve 10% for marketing purposes. House edge is 98.2% (considering referrals), the house keeps 50% or 0.9%, plus they hold 30% of the tokens so they get an additional 0.27% for a total of 1.17%.

• Epicdice is expected to keep 1.17% of wagers for themselves which is almost triple the amount of the above 3 games
• Epicdice representatives openly discuss EPC token valuation in their discord
• ~98.83% of goes back to players/token holders

Steemslotgames

https://steemslotgames.com/?referral_name=fairbet

Every Steem you bet on @steemslotgames will only win 0.9603 back, so you lose 4% per spin, they do offer generous Steem payouts for people who interact with them on the blockchain on a weekly basis so this has to be considered but is difficult to quantify. You can read about their bonuses here https://steemslotgames.com/bonuses They gave @fairbet 5 Steem to gamble on their site because we mentioned their great graphics. THANK YOU @steemslotgames for supporting the Steem Gamblers Association, the winnings from the 5 Steem we bet will go to help promote this post and spread awareness about gambling on the blockchain.

• No known token mechanism
• Incentives are relatively random
• more than 96.03% goes back to players/referrers/interested parties

Steem-Bet

No referral link here because we don't recommend you play @steem-bet at this time since they are not paying dividends as promised.

WARNING DO NOT PLAY STEEM-BET

@steem-bet has not paid dividends for well over a month, they sold tokens to people and should refund investors. The Steem Gamblers Association has nothing good to say about the people associated with Steem-bet.

• You could lose 100% of your wagers and the house could keep everything

DISCLOSURES

Luck plays the biggest part when gambling but the expected returns and payout makes a huge difference if you are a big gambler. The author of this post holds tokens and a stake in every mentioned betting platform (except Steemslotgames and temporarily withdrew an investment in Steem-Roller for safety reasons) and favours the odds above the sites/tokens. Gambling and tokens do not guarantee any sort of profit and the math shows you will always lose in the long run so please don't gamble more than you can afford to lose.

This post is intended for player information only and the intention is not to provide financial advice, gambling is not an investment, we only recommend playing for fun. If you can find an obvious mistake in this post, or if there is missing pertinent information please let us know in the comments below.

Please join the Steem Gamblers Association on our discord at https://discord.gg/xVcubXH