FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1310.

LTU_btc

legendary

Activity: 3234

Merit: 1375

Slava Ukraini!

Quote from: Betwrong on January 16, 2018, 05:16:53 AM

Quote from: LTU_btc on January 15, 2018, 05:32:10 PM

Quote from: Betwrong on January 15, 2018, 09:31:56 AM

Just stopped by to say that the site works perfectly for me in the last couple of months. Thanks guys for no captcha to solve before free rolls and for the fast rolls.

Won the second prize two times recently. Still hoping to win the highest free roll prize, $200 worth of BTC. Good luck to everyone!

Congratulations. You are really lucky to win $20 in BTC just in few months. I'm member of Freebitco.in for more than 3 years and I never won their second price. I only rolled $2 worth prize once. But I still hoping to win their grand prize one day...

No no, guys! I'm sorry for this misunderstanding but I meant the second prize from the bottom, which is $0.02 not $20. I use freebitco.in for more than 2 years, not regularly but quite often, and I never won $20 on free rolls. I rolled $2 worth prize several times there though, which is also great imo.

I've seen couple of reports in which real people were claiming that they won $200 on free rolls on the site so it's possible actually and I wish all of you to win the grand prize one day.

Oh, I really missunderstood you Cheesy

Even $0.02 is not that bad. In recent months I get this prize very rarely.
Yeah, there was few people who won $200 prize. But considering that Freebitco.in in market since 2013 and have over 11.7 million registered users, number of grand prize winners are very small. But maybe not everyone want to share their winning proofs in public.

Quote from: Plimo on January 16, 2018, 11:47:46 AM

I have never seen this site in my life.

And I really can recommend to try it

It's greatest faucet of all times. So many people entered to Bitcoin world trough this faucet when they were newbies.

robhimself1

jr. member

Activity: 56

Merit: 1

Missing the boat again

Quote from: chris200x9 on January 16, 2018, 07:47:10 AM

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

I'm pretty confused about people talking about house edge increasing or decreasing here. The more you bet, the more edge you give up. How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

It looks like you understood house edge concept wrongly because house edge is constant whether you bet a small amount or big amount. House edge on this site is 5% so from your bet amount site will take 5% that means if you bet bigger amount then the house will get big amount but in terms of percentage, it is same.

I'm not sure in what way you think what you said contradicts or explains away anything I said.

TheQuin

hero member

Activity: 2576

Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: amacar2 on January 16, 2018, 12:16:41 PM

If you will win they will take 5% from your winning and if you will loss you will loss 100% of your bet amount. So in both way casino will take some profit from you in a form of house edge.

No, they don't take anything from your winnings. House edge is just the statistical favour of them winning.

Quote from: amacar2 on January 16, 2018, 12:16:41 PM

Freebitco.in still have really high house edge compared to what other casino offers around 1%.

Freebitco.in also gives away far more in faucet, bonuses, reward points and free lotto tickets, and has a more generous referral program. This is all funded from the house edge, you pay your money and take your choice as to which you prefer.

amacar2

legendary

Activity: 1120

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CryptoTalk.Org - Get Paid for every Post!

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

I'm pretty confused about people talking about house edge increasing or decreasing here. The more you bet, the more edge you give up. How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

If you will win they will take 5% from your winning and if you will loss you will loss 100% of your bet amount. So in both way casino will take some profit from you in a form of house edge.

Freebitco.in still have really high house edge compared to what other casino offers around 1%.

Plimo

member

Activity: 185

Merit: 10

Shopify Developer

I have never seen this site in my life.

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: chris200x9 on January 15, 2018, 05:54:45 AM

Quote from: BTCevo on January 15, 2018, 05:39:01 AM

Quote from: hitrawal91 on January 14, 2018, 02:44:17 PM

Freebitco.in is really doing good in past few years and now after researching little bit from this forum and from Facebook, even I have started using this site. The hi and low jackpot is the cool thing which i like the most to play for and to be honest this faucet is simply looking but it is attracting the clients like a magnet and this faucet is addicting one. Also came across many strategies to earn from this faucet few from this forum and few from youtube I shall be using it for next three months and will post the results here soon, thanks.

How are you going to gamble by using faucet that not even worth? I do not think that any strategy will work on hi-lo since your faucet is very small amount, if you want to gamble on their site you should consider to deposit your balance and try out some strategy that you get from everywhere. But as I can say here no startegy will work in a long run and also they got some pretty huge house edge which is tend to lose faster

It looks like he may be new to this hi-low game and that's why excited with the methods in youtube. He will soon realize that he may be wasting his time in this hi-low game to earn money from it. In this game even if you play with your deposited money there is no guaranty that you will earn money because results depend on only luck. So don't waste your money to play this game with your deposited money.

I do not say that we can't win it here but still they have huge house edge so there is no way that you can play huge multiplier here because the chance of losing will be much greater. I already deposit and played on their game quite long and earn some amount too, so I can say you can earn some profit here but yet you need luck to play and btw people are tend to play om their lottery to hit 1st prize

chris200x9

legendary

Activity: 1316

Merit: 1011

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

I'm pretty confused about people talking about house edge increasing or decreasing here. The more you bet, the more edge you give up. How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

It looks like you understood house edge concept wrongly because house edge is constant whether you bet a small amount or big amount. House edge on this site is 5% so from your bet amount site will take 5% that means if you bet bigger amount then the house will get big amount but in terms of percentage, it is same.

robhimself1

jr. member

Activity: 56

Merit: 1

Missing the boat again

Quote from: Chris314 on January 16, 2018, 04:16:29 AM

Quote from: TheQuin on January 16, 2018, 03:59:31 AM

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

Lots of small bets will have less variance and the result will trend towards the house edge the longer you continue. A smaller number of large bets will have more variance so you have an opportunity to have good luck and come out winning.

I confirm. To put that with figures, you have 0.5 btc balance. A single bet with 0.5 and you have 47,5% chance to earn 0.5 more, but 52,5% to lose all your balance.
With ten bets of 0.05 you have 0.475^10 = 0.05% chance to earn 0.5 more (ten wins), 1% chance to lose all your balance.
With one hundred bets of 0.005 you have hardly any chance to earn 0.5 more (4,5e-31% to be precise).

The smaller your bets are (and the more you bet), the sharper is the result distribution (thus less variance), distribution which is by any means biaised towards negative gains by the house edge (you have more risk to lose all than chances to win all).

Yes, obviously you have less of a chance at winning huge on the larger number of small bets, but on the one big bet you have no chance at winning any of the amounts between -.5 and +.5. Either way, your expected loss is still 5% of your bets. If your goal is to play until you win .5, yes obviously a single bet would be better in your scenario. If you are enjoying yourself with some betting and want to sometimes not walk away broke, smaller bets with long odds are going to be how you get the most out of your money.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: LTU_btc on January 15, 2018, 05:32:10 PM

Quote from: Betwrong on January 15, 2018, 09:31:56 AM

Just stopped by to say that the site works perfectly for me in the last couple of months. Thanks guys for no captcha to solve before free rolls and for the fast rolls.

Won the second prize two times recently. Still hoping to win the highest free roll prize, $200 worth of BTC. Good luck to everyone!

Congratulations. You are really lucky to win $20 in BTC just in few months. I'm member of Freebitco.in for more than 3 years and I never won their second price. I only rolled $2 worth prize once. But I still hoping to win their grand prize one day...

No no, guys! I'm sorry for this misunderstanding but I meant the second prize from the bottom, which is $0.02 not $20. I use freebitco.in for more than 2 years, not regularly but quite often, and I never won $20 on free rolls. I rolled $2 worth prize several times there though, which is also great imo.

I've seen couple of reports in which real people were claiming that they won $200 on free rolls on the site so it's possible actually and I wish all of you to win the grand prize one day.

Chris314

sr. member

Activity: 672

Merit: 266

Quote from: TheQuin on January 16, 2018, 03:59:31 AM

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

Lots of small bets will have less variance and the result will trend towards the house edge the longer you continue. A smaller number of large bets will have more variance so you have an opportunity to have good luck and come out winning.

I confirm. To put that with figures, you have 0.5 btc balance. A single bet with 0.5 and you have 47,5% chance to earn 0.5 more, but 52,5% to lose all your balance.
With ten bets of 0.05 you have 0.475^10 = 0.05% chance to earn 0.5 more (ten wins), 1% chance to lose all your balance.
With one hundred bets of 0.005 you have hardly any chance to earn 0.5 more (4,5e-31% to be precise).

The smaller your bets are (and the more you bet), the sharper is the result distribution (thus less variance), distribution which is by any means biaised towards negative gains by the house edge (you have more risk to lose all than chances to win all).

TheQuin

hero member

Activity: 2576

Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: Chris314 on January 16, 2018, 02:00:04 AM

Mining is profitable only if you use a computer you don't pay electricity for. If you running your own devices, it's not worth it.

If you are using a computer that is turned on anyway running the mining in the background can be profitable with fairly cheap electricity cost. Use a hardware monitor like https://www.hwinfo.com/ to measure how much extra electricity your CPU uses when mining and calculate the value of what is mined and find out if it works for you.

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

I'm pretty confused about people talking about house edge increasing or decreasing here.

I thought I had explained that above. Using a martingale means that your average winning bet is smaller than your average losing bet. It can be mathematically demonstrated that the -EV increases the longer you play. You can't decrease the house edge.

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

The more you bet, the more edge you give up.

If by 'the more you bet' you mean the number of bets then the larger the number of bets the less variance of luck and therefore the closer the expected outcome will be to the house edge.

Quote from: robhimself1 on January 16, 2018, 03:33:35 AM

How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

Lots of small bets will have less variance and the result will trend towards the house edge the longer you continue. A smaller number of large bets will have more variance so you have an opportunity to have good luck and come out winning.

robhimself1

jr. member

Activity: 56

Merit: 1

Missing the boat again

I'm pretty confused about people talking about house edge increasing or decreasing here. The more you bet, the more edge you give up. How you bet doesn't matter. If you want to give up the lowest edge while having a chance to win something decent, do small bets with small odds to win.

Jonnylolo

newbie

Activity: 16

Merit: 0

Heh fun game to pass the time with free BTC

Chris314

sr. member

Activity: 672

Merit: 266

Quote from: STT on January 16, 2018, 01:46:19 AM

I tried the mining on this site and I'm not sure how its proceeding but its not especially profitable. I have a modern 8 core with 20mb 3rd level cache, even if it only ever used the CPU it should do better then this. ITs probably mining the wrong coin. But anyhow its nice they put it there at all I guess but its 90% not worth it

Mining is profitable only if you use a computer you don't pay electricity for. If you running your own devices, it's not worth it.

STT

legendary

Activity: 4102

Merit: 1454

Quote from: TheQuin on January 15, 2018, 03:06:20 AM

The house edges compared for various betting systems, note how martingale dramatically increases across the table with more rolls.

so the best system to look up there would be the Pass Bet or maybe Ponzer. Start a thread if you know how to implement these

not sure of those methods but people should slap themselves everytime Martingale is mentioned to remember because its never worked. Even in theory it was some tiny gain if working

I tried the mining on this site and I'm not sure how its proceeding but its not especially profitable. I have a modern 8 core with 20mb 3rd level cache, even if it only ever used the CPU it should do better then this. ITs probably mining the wrong coin. But anyhow its nice they put it there at all I guess but its 90% not worth it

LTU_btc

legendary

Activity: 3234

Merit: 1375

Slava Ukraini!

Quote from: Betwrong on January 15, 2018, 09:31:56 AM

Just stopped by to say that the site works perfectly for me in the last couple of months. Thanks guys for no captcha to solve before free rolls and for the fast rolls.

Won the second prize two times recently. Still hoping to win the highest free roll prize, $200 worth of BTC. Good luck to everyone!

Congratulations. You are really lucky to win $20 in BTC just in few months. I'm member of Freebitco.in for more than 3 years and I never won their second price. I only rolled $2 worth prize once. But I still hoping to win their grand prize one day...

Warfare

sr. member

Activity: 1360

Merit: 257

LOTTERY ROUND 137
This round, the winner with the lowest number of tickets is #10 with 3,120 tickets.
#1 won 0.86447480 BTC with 4,416 tickets.

babygun

sr. member

Activity: 2170

Merit: 254

Quote from: Betwrong on January 15, 2018, 09:31:56 AM

Just stopped by to say that the site works perfectly for me in the last couple of months. Thanks guys for no captcha to solve before free rolls and for the fast rolls.

Won the second prize two times recently. Still hoping to win the highest free roll prize, $200 worth of BTC. Good luck to everyone!

Wow, congrats on your second prize winnings, I never won anything higher than the 4th prize, but also hoping (like everyone) to win the first prize one day

.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

Quote from: TheQuin on January 15, 2018, 03:06:20 AM

Quote from: Chris314 on January 14, 2018, 03:02:07 PM

Quote from: Don Pedro Dinero on January 14, 2018, 01:43:51 PM

Quote from: TheQuin on January 14, 2018, 06:36:51 AM

many players actually increase the house edge by using strategies like the martingale.

Could you expand on this?

I would be curious too to know why a martingale strategy increases house edge.

Because you go back to base bet after each win you end up increasing your average loss in proportion to your win. You can only ever win the base bet amount but often risk much larger amounts. There are ways to gamble that make winning less likely but none that can give a better expectation than the house edge.

I just spent ages on Google trying to find a decent mathematical example of this and without finding my old maths teacher I can't remember exactly how to demonstrate it myself. This roulette example is the best I could find:

https://en.wikipedia.org/wiki/Martingale_(betting_system)

Quote

In this example, the probability of losing the entire bankroll and being unable to continue the martingale is equal to the probability of 6 consecutive losses: (10/19)6 = 2.1256%. The probability of winning is equal to 1 minus the probability of losing 6 times: 1 − (10/19)6 = 97.8744%.

The expected amount won is (1 × 0.978744) = 0.978744.
The expected amount lost is (63 × 0.021256)= 1.339118.
Thus, the total expected value for each application of the betting system is (0.978744 − 1.339118) = −0.360374 .

...

Pretty much, if you have a balance of 0.05 and try to win 0.0005 in a few dice bets you have a fair chance of coming out a winner. If you try to get 0.0005 up to 0.05 then most times you'll end up busting.
They changed the hi-lo bonus requirements a while back. The "The maximum wagering requirements that you can fulfil in a single bet cannot exceed 10% of the original amount of your bonus account." makes it much harder to come out on top now. But the reward points quickly add up especially on the weekend when it is 4 or 5 points for every 500 satoshis wagered. So you end up with getting past the 100,000 minimum quite quickly with a few big bets.

Thanks, on my part too. I knew martingale is a bad system where you increase your risk exponentially to win just the base bet, but I hadn’t thought about it like that: “you increase the house edge”.

But it doesn’t matter if this keeps being said in all the betting forums, Wikipedia or wherever, people will keep using martingale.

The other point you talk about is quite interesting as well, and in poker and sports betting is widely known as bankroll management. It consists in making small bets, compared to the total money you have in the casino account. Many gamblers would be better off doing bankroll management.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Just stopped by to say that the site works perfectly for me in the last couple of months. Thanks guys for no captcha to solve before free rolls and for the fast rolls.

Won the second prize two times recently. Still hoping to win the highest free roll prize, $200 worth of BTC. Good luck to everyone!

Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1310. (Read 559380 times)