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RE: GAMER Buyback System is LIVE
@cryptoeater, I know that you are very good for calculations on these number.
Can you analyse it and say us if this kind of deviation between the house edge and the REAL profits withdrawed are normal?
If I calculate well, the house edge total amount since this casino started is around 37.000 STEEM as we received 70% of it (minus some fees) and the 70% is equal to 26.000 STEEM.
So since the start of that casino, how the house edge is around 37.000 STEEM and the real profit withdrawed can be 160.000 STEEM so more than 4X it. Does anybody here has the knowledge to know if this deviation is plausible or not? I'm agree these results can be different from one day to another but here we are talking about a period of several months.
I'd be willing to say that majority of profits came from WAY before dividends were a thing, for example I had 2.5 million volume before dividends were implemented. I know other players like @lexilee around the same volume and @lisboa and @grandlisboa had much more than me from BEFORE dividends were implemented. Just from us 4, statistically they should have made at least 100,000 STEEM before dividends were implemented. There were also a 3 or 4 big token farmers before dividends were out that had around 10-50 million tokens so around a few hundred thousand volume each. This accounts for around 110,000 STEEM just from 8 players from before dividends were out and I'm sure there are people I'm forgetting with large holdings. Assuming let's say all the other players combined lost 10k STEEM before dividends started, that's a total of at least 120k steem earned before dividends started.
However, that means their earned amount is still above 70%. This makes a lot of sense as most of their profits come from blackjack I assume, since players don't play perfectly so the real house edge might be as high as 10% (random guess) against players who just aren't good. Remember, the house edge is 0.5% on blackjack ONLY if you play perfectly, like a bot.
lol are you serious ?
Dividends started to be distributed May 5 and from 160.000STEEM, at least 100.000STEEM have been withdrawed after that period so nope it is not coming before dividends were implemented...
And even before May 5th, dividends were not paid but we received May 5 all the back log not yet paid, see your publication : https://steemit.com/gambling/@cryptoeater/kryptogamers-4731-steem-dividends-on-first-day-663-steem-claimed
So I don't think this explication is the root cause.. so perhaps they are doing fortune on blackjack, this is indeed there that I lost big money but in that case, it is time that they change way of calculation for dividends because we are receiving 1/4 of the real profits. It is nice to use house hedge to calculate our didvidends but if the real profits are 4 more higher, it is not fair for all token holders...
I was thinking about your explanation, if you was farming, it was to receive token and if token were already in place, perhaps the payment was not yet in place but you received dividends for them and they are included already in the 26k received as total dividend, see yourself your post : https://steemit.com/gambling/@cryptoeater/kryptogamers-4731-steem-dividends-on-first-day-663-steem-claimed
So this definitely not the reason of this deviation.