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1  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: November 18, 2019, 09:52:44 PM
Any chance we could have this weekends English Premier League and La Liga matches added to the betting section? Its a been a while since weve had the chance to bet on these matches. Thanks in advance if possible.
2  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: October 07, 2019, 08:49:34 PM
Is there a problem with the India V South Africa and Pakistan V Sri Lanka betting?

Both matches have finished and yet the status is still "pending".

3  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 20, 2019, 11:07:31 PM
The win chance shown in lottery section of freebitco website is calculated wrong. The real win chance is bigger than what is shown.
Now the win chance shown is equal to [(your tickets/total tickets)*100%]*10. It's wrong.
The real win chance is bigger. Because the person who wins the first prize will no longer have the chance to win the second to tenth prize, and all his tickets are removed when next winners are being determined.

Even then I have not heard form anyone here if they had won a lottery. Few of my friends also play at freebitco and they also did not win any big prize. I wonder if this lottery system is fair ?  Huh

For what its worth, I believe the lottery to be fair. But I can see why the perception otherwise can exist.

One possibility to help the situation might be if more prizes were paid out (hence, more likely to receive anecdotal confirmation.) Wouldnt even necessarily need an increase in the overall pot value either.
4  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 20, 2019, 09:02:36 PM
The win chance shown in lottery section of freebitco website is calculated wrong. The real win chance is bigger than what is shown.
Now the win chance shown is equal to [(your tickets/total tickets)*100%]*10. It's wrong.
The real win chance is bigger. Because the person who wins the first prize will no longer have the chance to win the second to tenth prize, and all his tickets are removed when next winners are being determined.
Some people like you think lottery is something very easy to win, we are talking about odds that many people don't even bet on dice games, it is literally less than 0.1% chance most of the time, of course you will lose every single time because it is lottery and there are literally millions of tickets every single week, so you do not have a chance to win it 99.9%+ of the time every single week, don't look at it like dice players do where they think after 17 losses it must be a win on 18th because every single bet is a new one and every single lottery is a new one, you will end up losing every single time.

A guy with 1 ticket technically has the same chance of winning the big bet as someone who has 1 million tickets, only 1 ticket will win an you do increase the chance by having more tickets but in the end there are so many combined that you are just another ticket holder among many.

It seems that you misunderstood me. I didn't talked about possibility of winning. I know how a lottery works. I know that some one who has only one ticket might win the lottery and there is no guarantee to win the lottery even if you have 1 million tickets. I know all of these.
I just talked about the percentage of win chance which is shown in front of number of your tickets on the website. The win chance which is calculated there is wrong. I just talked about a mathematical calculation. I didn't talk about how a lottery works or how the winners are determined. I know everything is based on luck.

Technically, you're correct. However, the actual win percentage is unknown before the draw because nobody knows how many tickets each of the ten winners will hold.

To be more precise, the caption should say something like: "minimum win percentage".

In a lot of cases, I would guess that the actual number isnt much higher then the displayed number.
5  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 18, 2019, 09:19:19 PM

Have anyone won a lottery at Freebitco ? I have tried my luck many times in this lottery but never won it. Even I used to solve the captcha at this site every hour but never got a big reward. Maybe I am not that lucky to go for a Lamborghini  Roll Eyes

Not once, even with 10% chance. And then I see someone winning top prize with just a few tickets Sad

10%?! You must have had around 15m-20m tickets! Where do you get all them from? Do you buy them? Its unusual for me to get anywhere near 0.05%!
6  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 17, 2019, 02:43:19 PM
However, it appears they may have removed football from their betting activities altogether as its no longer a category to select and there are no football matches whatsoever to bet on.

The categories are only listed when there is an active event in them. I was just a bit slow getting next weekends games up. I also missed that the Champions League starts this week but I will get them up starting in the next round of games.



Ah, no worries. I should have thought of that possibility. Great news about the football betting continuing.
7  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 16, 2019, 01:46:00 PM
Hey. Admin. Please add UEFA Champions League. Group stage matches for betting. It's such a popular event and no options yet  Huh

I would second this motion.

However, it appears they may have removed football from their betting activities altogether as its no longer a category to select and there are no football matches whatsoever to bet on.

Strange, as I thought they would attract much more interest then ODI's between Pakistan and Sri Lanka (which may not even go ahead by the way.)
8  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 10, 2019, 02:17:28 PM
It's a bonus more similar to bonuses on various other casinos where there's a wagering requirement (it's not just free money). If you want to play Hi-Lo, it might be worth taking if you were going to wager near the rollover amount anyway, but it is a -EV bonus (25x rollover with a 5% house edge) and you're expected to lose 25% of your stake.
Completely right.
Here I give an example to make it more clear.
I claim 1000 Satoshis. 1000 Satoshis will be deducted from my balance and I will have 2000 Satoshis on my bonus account.
If I play HI/LO game and I wager 1 Satoshi 1000 times, the house edge guarantee that I will lose 50 Satoshis. (In long term, it is 100% true and that's why I considered the amount of each bet only 1 Sathoshi).
To become eligible to withdraw my balance from my bonus account, I have to wager 1000*25= 25,000 Satoshi. So, I will lose 1250 Satoshis. So, I become eligible to send the entire balance from my bonus account to main account when I have only 750 Satoshis.


Thanks to both hosseinimr93 and DarStar_ for the responses.

In fact, I think its an even worse proposition then your example highlights as you have to bet through 25x then entire amount, not just your own contribution. If Im correct, it would mean you would expect (if allowed) to go into debt of 500 satoshis on average for every "succesful bet through attempt."

Ah well, nevermind, my instinct was in line with this but I wasnt confident about my calculations. Thanks again.
9  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 09, 2019, 08:24:40 PM
Good news about the NFL being added if it comes to pass.

Ive only recently started betting here so missed last season but I hope at least some NBA games get added, genuinely curious how the market will operate in a two outcome type event.

Also, due to the recent betting, I noticed that Ive qualified for a "bonus" on the multiply game of HI-LO. However, it appears that due to having to put an equal amount into the pot and having to bet through 25 times the total pot, it doesnt seem like much of a bonus at all.

Does anyone have any other insight on this or do I have it all correct and might as well leave it to accumulate?
10  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 07, 2019, 03:37:01 PM
Does anybody know if theres any plans to add NFL and/or NBA games to the betting section?

The start times are known in advance and can be either handicapped or moneyline.
11  Economy / Gambling / Re: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!! on: September 03, 2019, 08:51:10 PM
I have a question regarding the "Betting" section on the site.

I understand its a tote/pool/parimutuel system but there appears to be some inconsistent outcomes with the final odds and margins.

For example, in the Levante V Valladolid soccer match on 31 Aug, the final odds were:

Levante 1.73
Draw 2.01
Valladolid 2.41

The "over round" or "vig" on this market is a whopping 149! (A pure fair odds market will equal exactly 100)

However, in the Villareal V Real Madrid match the next day, the final odds were:

Villareal 3.35
Draw 3.59
Real Madrid 1.47

The margin on these odds is about 126 (still a very healthy margin but considerably better for the gambler then the Levante match.)

Its not my place to question Freebitco.in on how to run their business but the difference in profit margins from one event to the next does appear erratic. Its as if the site is taking widely different cuts from each individual event instead of say a flat 15% for example.

Does anyone know whats behind this? Rounding errors for example wouldnt explain these differences. Am I missing something?

Thanks in advance to anyone who can offer any explanation.

(For the avoidance of doubt Im not accusing or hinting at any underhand practices by the site at all, Im genuinely puzzled.)

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