Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 745. (Read 565324 times)

Wow. I didn't know about this. Thanks for your explanation!

Although it's hard to really "feel" the 1% difference when talking about the probability of something happening, I have to admit that I was absolutely wrong, because I thought the bias would be in favor of martingale.

Can you please help me to fully understand your formula,

(1 - 0.525¹⁰)¹⁰⁰ = 0.852 = 85.3%

which I'm sure is accurate bc your post was merited by reputable members of this forum. I see that 0.525 is there because on freebitco.in we have 52.50% chance of losing a bet with 2x multiplier. To the power of 100 is there bc we need to win 100 bets to convert 1 BTC to 1.1 BTC with the base bet of 0.001 BTC ... wait, you said "set the base bet to 0.001 mBTC". Was it a typo, 0.001 mBTC? Because I thought, to the power of 10 here, 0.525¹⁰, was there bc you need to lose 10 times in a row with 0.001 BTC base bet to lose 1 BTC with martingale. ... now I'm lost completely!

Please don't think I'm trolling here. I'm not. I really want to get full understanding of this formula, which is not as simple as it looks(for me, at least). I use to think that I was having a good understanding of probabilities, but it appeared it was only a superficial idea about it.

@freebitco.in PR - Just a couple of observations if I may:

I don't think burning any tokens (or coins for that matter) is ever a good idea.  Imagine if DOGE had burned coins in the past, would it's rapid rise just now have attained the same levels, or higher due to a smaller supply.  Don't forget even though there are X Billion coins/tokens, there are less than eight Billion people on the planet, so if each person were to tap into DOGE/Bitcoin/FUN/(insert another name here) the bigger picture is how many people would own how many coins if we were all to participate?


People might start asking why do we need to HODL Fun if there's yet another coin/token being developed very soon?

---

---

Seriously, if you want fast and cheep transactions, implement and promote Bitcoin Lightning Network for your members.  I think you'd be surprised at how many users would implement it if they used wallets such as Eclair, Phoenix or even Zap on the portable devices.

Regards,

Same here! Interesting roadmap and looking forward to the new developments that will come. I don't think these are empty promises, freebitco.in will not put a roadmap on paper that they can't fulfill.

Nice, about time FUN moves on to its own blockchain. Having stuck with hefty fees and converting multiple times, man.

This is a very interesting roadmap. Now we are seeing FUN pumping again because of this. My tokens are now worth almost a million sats.

I hope these are not just empty promises. We have seen other casinos which were supposedly decentralized but then they started implementing KYC and blocking people based on country of residence.

FUN Token Is Changing the World of iGaming. Join the Revolution.

2021 has been an amazing year for FUN Token and FreeBitco.in.

We acquired FUN and launched the Premium Membership Program powered by the token. Subsequently, FUN Token gained over 125,000 new users this year; this renewed activity even helped FUN hit a three-year high of $0.068.

And we want to go even further.

Our vision for FUN Token involves developing it into a token that would help bring decentralized gaming to the mainstream. We’ve developed a roadmap of our plans for FUN Token over the coming year, and we’d like you to take a look:


Q2 2021:

CUSTODIAL CASINO ON ETHEREUM MAINNET
We'll create a custodial casino for FUN Tokens on the Ethereum blockchain. Transactions will be limited to deposits and withdrawals to reduce the impact of high gas fees.

TOKEN BURNING PROGRAM
Announcing the details of a token burning strategy that would use the profits gained from the FUN Token-based gaming operations we launch.




Q3 2021:

INTRODUCING A NEW SUPER-FAST TOKEN
Creating a new token on an alternate blockchain that would form the foundation of a super-fast, low/zero cost gaming infrastructure. This token will include escrow, state channels, and transfer with memo.

OFFICIAL TOKEN LAUNCH
The new token will be pegged 1:1 with FUN. A new wallet will be launched to allow transparent and user-friendly swaps between FUN and the new token.

CUSTODIAL CASINO PORT
The custodial casino will be discontinued on the Ethereum mainnet and ported to the alternate blockchain for the new token. Lay Staking will be introduced.




Q4 2021:

DECENTRALIZED P2P SPORTSBOOK
Proprietary Sportsbook tech developed by BETR will be ported to the new blockchain and relaunched. This Sportsbook will include all major sports and esports.

CASHIER API, THIRD PARTY WALLET INTEGRATION
The new token platform will be opened up to third party providers that can use it as a payments mechanism or to power their own decentralized gaming projects.

DECENTRALIZED POKER
A fully decentralized poker game will be launched for users.




Q1 2022:

FULLY DECENTRALIZED CASINO GAMES
Decentralized casino games with dedicated staking pools and on-chain gameplay will be launched for users.

P2P SOCIAL GAMES
The ecosystem will be extended to include P2P multiplayer social games like Mahjong, Big Two, and more. This will help cater to regional demand all around the world.

TRADING
Options and CFD trading will be introduced for the token.

We’re revolutionizing iGaming and FUN Token is at the center of it. The days of lax security, scams, and unfair gaming protocols are behind us. Your support can make this a possibility.



Invest in a fast, transparent, and truly fair way to play and win. Invest in FUN Token.

Looks like our favorite whale is back to multiply his golden ticket winnings:

https://imgur.com/a/izUusdi

This was a pretty tame day based on his crazy bets a few weeks ago. I wonder how long this streak will last.

The many consecutive losses may look unrealistic at first impression, but it becomes quite often because gamblers need hundreds or thousands of bets to make some decent profit with a low base bet as many faucets/free bitcoin sites' users are used to play. The less money the person has, the more greedy he becomes to double this amount through low bets, but really frequently. Then it becomes a dangerous journey and high loss streaks are hit often.

Plus on top of that martingale creates this fallacy amongst many newbie gamblers that "how is it possible to lose 20 times in a row! I will definitely win!" and they make strategies based around that "fact" and when they end up losing, they feel like you scammed them.

I have seen plenty of people in this 830+ pages when people did martingale, lost many many times in a row and then came here and blame you for having a "rigged" setup as well. Why? Because they believe they "can't" lose 10+ times in a row in martingale with 50% win chance or 2x win whatever, because in their idea that odd is now lower because they lost that many times, the chances of losing 15 times in a row is same as 1, on that 15th one it is still 50% and yet they do not see that. Which gives house a psychological advantage as well, it makes them lose a lot more frequently because of that, and makes you win a lot more because they do not realize this.

Even the endless pocket/bankroll can't guarantee profit to anyone. Because every casino have max bet or max profit limit. So, at one point you won't be able to increase your bet amount inorder overcome your previous losses. Finally you have to accept your losses at that point. Casino always stay ahead. The profit is guaranteed for the casino not for the gambler.

Maximum profit limit is 20 BTC at freebitco. If anyone starts with 1 satoshi base bet at 2× payout and use 100% increase on each loss then he/she can face upto 31 losing streak at freebitco. Cause, after 31 loss the bet amount would be 21.47483648 BTC. At 2× payout it will overtake maximum profit limit there. As a result the user won't be able to place more bigger bets.

You are absolutely right, in fact I have applied the martingale technique many times, and although my balance is not infinite as I always wanted, sometimes I have made profits and others mostly losses.

But the bad thing about making very small bets is that you quickly reach a large balance to recover little, and although in a bet by pure nature one tends to go to martingale, it is difficult when you risk a considerable balance because you simply want to recover that, it is As an instinct, at that moment adrenaline comes into play instead of reason, reason has a very small voice in the face of the emotions that the game triggers.

the merit to Martingale strategy is that it is guaranteeing profit but there is a condition that cannot be fulfilled which is to have a an endless pocket so that when you go on a very long losing streak you can increase the bet amount until you end up winning all you've lost plus make some profit.

the problem is that not only you can't have an endless pocket most people using Martingale strategy do it with small amount of money or start the bet relatively close to their max balance because of the profit they wish to make on each bet.

Formula 1 Betting - Can Hamilton Win His 6th Spanish GP?

Hamilton took an 8-point lead over Verstappen in the Drivers' Championship with a win in Portugal last weekend.

With tight battles between the pair making every race exciting, it's a toss up between Hamilton and Verstappen this weekend. Hamilton has won the Spanish Grand Prix 5 times while Verstappen took it once in 2016. Can Max put pressure on the top spot again?

Meanwhile, their teammates Bottas and Perez come in with incredible odds and could be the wild cards.

Notable Odds: 2.13 on Lewis Hamilton, 2.45 on Max Verstappen, 13.39 on Valtteri Bottas, 22.12 on Sergio Perez

Predict the outcome of the Spanish Grand Prix at FreeBitco.in and win BTC. Betting expires before qualification on 8th May.

Reading the verb convert used in the context of betting makes my eyes bleed  

1oXb1xnDtAFFmgNEWvzD7KxYZMKdXDXkG
 

We've added the Spanish Grand Prix bet. It ends in 2 days just before qualifying on Saturday. More F1 and Football bets incoming.

That's why Martingale is sometimes known as "the extra house edge".

What Martingale is really meant for is allowing you to bet on outcomes that are less than the minimum bet odds. Your example shows a 1.1x and you could reduce that to 1.01x. But if you wanted to reduce it to 1.001x then Martingale is the only way you can do it. 

Off of the newsletter 1x wheel spin entry just before I got the 3700 SAT prize which is pretty amazing by the standards of my luck in life generally :p      I just need to find myself a good ten to one odds bet I can put it on and win and Iam really on my way.

Martingale has no merit to it, the appeal is the simplicity but no advantage is gained so its unfortunate fallacy sadly.   I first heard that one drinking in a casino bar twenty years ago and it did seem worth a go but thats it, its like an urban myth a good story to tell is the best thing about it.

Doge is into the 70's cent per Doge.  It was 1 satoshi price long time ago

Yes, it's a native sewgit address. You can use it for slow and instant withdrawals.

---

If I sold all my tokens today I would make a profit of 61k sats. It would be a nice ROI but I still want to hold them to see if the premium benefits are worth it. I'm getting close to being able to exchange my reward points so it would be better for me to hold FUN and get more RP's from the WOF.

I mean it could be any reason, maybe they decided that they do not want to deal with the outside stuff anymore, they just keep it at btc/eth/fun from now on and stuff that are similar to that instead of keep dealing with the sports part of it. However they may not be doing that neither, maybe I am overreacting, after all they might be just a bit of late to add them and that’s all.

However last night had Manchester city and PSG game which is a HUGE game if you ask me and it wasn't there, that didn't really make sense to me. What are you going to list as a bettable thing if not for champions league semi finals? We know they added a lot less important games before, so this should have been there as well. I gambled it somewhere else so it is not a problem for me but I just wanted to know if the plans for sports betting will continue or not?