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Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1334. (Read 565954 times)

sr. member
Activity: 672
Merit: 266
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).
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
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.

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.

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.

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.
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.
newbie
Activity: 16
Merit: 0
Heh fun game to pass the time with free BTC
sr. member
Activity: 672
Merit: 266

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


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

legendary
Activity: 3262
Merit: 1376
Slava Ukraini!
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...
sr. member
Activity: 1368
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.
sr. member
Activity: 2226
Merit: 254
Top-tier crypto casino and sportsbook
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 Smiley.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform

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.
legendary
Activity: 3514
Merit: 2246
🌀 Cosmic Casino
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!
sr. member
Activity: 672
Merit: 266
3Pkfni5EAYK8VqxzQATLiMikPNZb6jwDgx

Thanks

There's no more giveaway here, it's useless to give your btc addess, as already said a few posts earlier.
sr. member
Activity: 672
Merit: 266

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)
So you just play from time to time for fun with a reasonable bet compared to your balance, and thus manage not to lose too much satoshis there. That's it?
I've tried to use bonus they gave, but always ended up losing all, including the amount they took from my balance.

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.


OK, thanks for the explanations. It's true that new condition on bonus account (no bet higher than 10% of the total bonus) slows the decreasing of the "need to wager" amount, thus increases risk of bursting before reaching zero.
To make it decrease faster, I was reducing bet amount and played also for jackpots (roll 8888) as the full amount of jackpot cost is deduced from the remaining wager amount.
legendary
Activity: 1316
Merit: 1011
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.
legendary
Activity: 1834
Merit: 1008
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
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2

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)
So you just play from time to time for fun with a reasonable bet compared to your balance, and thus manage not to lose too much satoshis there. That's it?
I've tried to use bonus they gave, but always ended up losing all, including the amount they took from my balance.

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.


Edit:

I found a book extract that unfortunately doesn't give the full maths but the table is worth a look.



The house edges compared for various betting systems, note how martingale dramatically increases across the table with more rolls.
sr. member
Activity: 672
Merit: 266
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.

Be aware that many strategies that looks good on YouTube while playing Hi Lo game are often martingale strategies that will empty your balance if played for too long.


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.
full member
Activity: 462
Merit: 101
BitcoinSN - The Real Bitcoin!!!
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.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
I quite like reading what Thequin says, and how he explains himself. I don’t play EV- games but I think he is the perfect example of how a good gambler should behave if he plays such games.

That's what it is all about, it is entertainment. There's no point trying to come up with winning strategies. If you bet too frequently then the variance decreases and the house edge stands a higher chance of winning. If you just gamble occasionally for fun then you may well get lucky and win. Put auto bet away, start with a decent bankroll, make fewer larger bets and just roll with it. I usually find that people who obsess about finding the lowest house edge actually believe that gambling on random numbers is a viable way to guarantee a profit. That might be possible in PvP poker or even sports betting but not against an RNG.

Apart from that:

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

Could you expand on this?
sr. member
Activity: 672
Merit: 266
Personally for me the Hi lo game gambling is just for fun sakes

That's what it is all about, it is entertainment. There's no point trying to come up with winning strategies. If you bet too frequently then the variance decreases and the house edge stands a higher chance of winning. If you just gamble occasionally for fun then you may well get lucky and win. Put auto bet away, start with a decent bankroll, make fewer larger bets and just roll with it. I usually find that people who obsess about finding the lowest house edge actually believe that gambling on random numbers is a viable way to guarantee a profit. That might be possible in PvP poker or even sports betting but not against an RNG.


So you just play from time to time for fun with a reasonable bet compared to your balance, and thus manage not to lose too much satoshis there. That's it?
I've tried to use bonus they gave, but always ended up losing all, including the amount they took from my balance.
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