News
BananoBet Update - 1% House Edge Promotion and Changelog
Limited Time Promotion - 1% House Edge on Every Bet!
BananoBet has always had a low 2% house edge. The edge is only a factored into payouts. For example, if you make a 5 BANANO bet with a 50% chance then the house will pay back 1.96X (9.8 BANANO). This is because 1.96 is 2% less than 2. With a 1% edge, this becomes a 1.98X payout because 1.98 is 1% less than 2. The edge does not affect your actual chance to win, but it means that all wins will be paid slightly more than before.
This reduced edge is effective immediately and will remain in effect until December 9th, 2018 - two weeks from today. In addition, referral payments have been increased in response to this change - you will now receive 20% of the house edge (1%) on every bet your referrals make. We believe that the BananoBet affiliate program is one of the best, if not the best, in the industry and we hope to see more people make use of this program.
So, what's the deal here?
The deal is it's the holiday's, and we'd like to give a more to our users before we hit our mega 10 Million Bets mark. (Usually a nice time for giveaways!!) We're going to try out this promotion for the next 2 weeks to see how things go. For the users it's getting paid 50% more (of the 2%) per/winning bet and for referrers getting paid 50% more per/referral based on their bet volumes. Pretty cool right?!
Dice Roll Algorithm Change
A bug was brought to our attention this past week that has been fixed in this update. In the FAQs it says dice rolls are between 0-99.99, which is the intention. However, a user noticed that he had rolls that resulted in an even 100, higher than the stated 99.99.
The reason for this is rounding. Dice rolls come out as up to 4 decimal places, with the maximum value being 99.9999. When 99.9999 is rounded, it results in 100. The algorithm has been changed to truncate, not round, to two decimal places. This means a roll of 99.9999 becomes 99.99, a roll of 49.996 becomes 49.99, a roll of 23.4569 becomes 23.45, etc. The provably fairness tool at bananobet.github.io has also been changed to account for this.
Thanks for reading, playing and being a valuable part to the growth of BananoBet.
Cheers,
The BananoBet Team