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Author Topic: FreeBitco.in - Win a Lamborghini Huracan LP 580-2!!  (Read 311918 times)
Betwrong
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June 15, 2019, 11:28:55 AM
 #9221

I want to gamble on this one but it will be a huge risk since the tickets casted was already at 1.7 million. Since it is a 25k satoshi per ticket so if I wage around 1 BTC this would be a much huge gamble since it only gave 4000 tickets at most and the percentage to win is low.


Most of the tickets, in my opinion, are generated by huge players and referrals, some users can wager over 300 BTC months so is very easy for them to get tickets.

This is a world of rich for rich people.

They can have 90% of the tickets and still not win the prize. Just yesterday I watched a video saying that if you tell people that 90% of lottery tickets were bought by one person they won't buy tickets, although they would buy without that information. But the chances are always the same, regardless of how many tickets were bought by this or that individual. I have one ticket out of 1,695,457 and I still hope to win. And the main reason for that is that I don't think this world is for rich people. From what I can see, it is not. Maybe it was in the past, but not today! Smiley

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June 15, 2019, 07:56:47 PM
 #9222

Whats wrong with the server time on freebitcoin ?
Normaly weekends its gambling time with reward point bonus ?
But today i see
2x reward points (RP) promotion starts in 14h:04m:08s   Huh

regards



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[15.00000000 BTC]


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Rainbot
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June 15, 2019, 11:33:20 PM
 #9223

Whats wrong with the server time on freebitcoin ?
Normaly weekends its gambling time with reward point bonus ?
But today i see
2x reward points (RP) promotion starts in 14h:04m:08s   Huh

regards
I don't think it's something wrong. Probably they just changed something in reward point promotion schedule. If I'm not mistaken they already had started one promotion on Thursday, because I was getting 8 RP in recent days.




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June 16, 2019, 03:10:19 AM
 #9224

hello I have a question how many ceuntas can have in the same ip, and if so I can have 10 accounts to bet on them?

Ceuntas?  What's that?

Why do you need to create until 10 accounts on freebitcoin? Are you trying to abusing them by collect all faucet with your all accounts?



AFAIK, you can't create multiple accounts on same IP address

You can create as many accounts as you like but only one free roll per hour is allowed from an IP address. You have hit the nail on the head here, why someone creates multiple accounts is the important bit. If it is just to keep some Bitcoin earning interest or separate different gambling strategies it is no problem. If it is to abuse free rolls or the referral commissions then they'll probably get banned.



Whats wrong with the server time on freebitcoin ?
Normaly weekends its gambling time with reward point bonus ?
But today i see
2x reward points (RP) promotion starts in 14h:04m:08s  Huh

regards
I don't think it's something wrong. Probably they just changed something in reward point promotion schedule. If I'm not mistaken they already had started one promotion on Thursday, because I was getting 8 RP in recent days.

You're right we've changed it up a bit. Rather than just doing RP weekends with 2x, 3x, 4x and 5x in sequence, we've randomised the order and also the day it starts. You'll have to keep an eye open on your email inbox or follow us on Twitter to find out when they will be happening.



Do we know how much freebitcoin made so far from the ticket selling ?
I mean I know they said it would be 6 months and even if they profit from it right now why not make it continue until it ends and make people wait since it would make them a whole lot of money but I just wanted to ask if it was possible to cut it short.

I mean the amount we can calculate ourselves from calculating how many tickets were sold and how much it costs to buy a ticket but they claimed that the cost were a lot lower since people could wager or even buy with affiliate income and what not.

So far about 99.5% of the tickets have been given away for wagering so we're still a very long way away from selling enough to pay for the Lambo.



They can have 90% of the tickets and still not win the prize. Just yesterday I watched a video saying that if you tell people that 90% of lottery tickets were bought by one person they won't buy tickets, although they would buy without that information. But the chances are always the same, regardless of how many tickets were bought by this or that individual. I have one ticket out of 1,695,457 and I still hope to win. And the main reason for that is that I don't think this world is for rich people. From what I can see, it is not. Maybe it was in the past, but not today! Smiley

That's something I've seen before on another site. When a whale came in and started buying a huge amount of tickets every round lots of people started complaining even though it meant the prizes were much bigger. Something to do with irrational human psychology I think.




freebitcoin.TO WIN A  LAMBORGHINI!..

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June 16, 2019, 05:34:48 PM
 #9225

How is it that 99.5% of all tickets bought are from wagered, plus wouldn't that mean there has been A LOT of bets made and from 5% house edge shouldn't that mean that is a lot of profit for you guys already. I mean if you only calculate the tickets purchased then you will never reach it and it would be something upsetting for you in the end, however if you calculate it right now there must be close to 8500 bitcoins wagered just for this many tickets, if we calculate the 5% house edge that is about 400 bitcoins won on average just for now from that wagered amount.

I know you normally wouldn't give anything back and just take the money without the lambo since that is what a casino is but since this is the promotion we can assume you may have more wagered right now than you used to and that difference could be the lambo money.

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SyGambler
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June 16, 2019, 11:16:32 PM
Last edit: June 16, 2019, 11:55:53 PM by SyGambler
 #9226

yeah the golden ticket thing should be just  a little incentive to gamble with the site
nobody should expect people buying tickets cause that would be insane since the current ticket numbers in theory worth around 4m$ and the prize is only 200K$

that would be the dumbest gamble to take

best thing is make it like half of the edge gambled wins  tickets and disable the buy ticket option , this would be better for the site and newbies won't buy something extremly -EV

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June 17, 2019, 12:36:03 AM
 #9227

How is it that 99.5% of all tickets bought are from wagered, plus wouldn't that mean there has been A LOT of bets made and from 5% house edge shouldn't that mean that is a lot of profit for you guys already. I mean if you only calculate the tickets purchased then you will never reach it and it would be something upsetting for you in the end, however if you calculate it right now there must be close to 8500 bitcoins wagered just for this many tickets, if we calculate the 5% house edge that is about 400 bitcoins won on average just for now from that wagered amount.

I know you normally wouldn't give anything back and just take the money without the lambo since that is what a casino is but since this is the promotion we can assume you may have more wagered right now than you used to and that difference could be the lambo money.

Yeah, that's right we don't normally give anything back. The free-rolls, reward points, lottery tickets, referral income, interest on your balance and wagering contest are all figments of my imagination. So let's just look at the Golden Ticket in complete isolation and assume all income from the site is just to pay for it.

Or in reality, it is a promotion we're running in addition to everything else that looks like we'll probably sell enough tickets to pay for half the Lambo and we'll pay the other half in return for all the publicity and interest it has generated.



yeah the golden ticket thing should be just  a little incentive to gamble with the site
nobody should expect people buying tickets cause that would be insane since the current ticket numbers in theory worth around 4m$ and the prize is only 200K$

that would be the dumbest gamble to take

best thing is make it like half of the edge gambled wins  tickets and disable the buy ticket option , this would be better for the site and newbies won't buy something extremly -EV

We were originally planning on only giving tickets away for wagering but we added the option to buy at the last moment because we wanted to give free players a chance to get tickets as well. Six months is more than long enough to get enough from free rolls to buy a ticket if someone wants. Lotteries with big prizes and cheap tickets can't really be looked at in terms EV, they are about having a chance of a huge payback if you get ridiculously lucky. People enter those sort of competitions for the fun of it, not because they calculated it was a good bet.

freebitcoin.TO WIN A  LAMBORGHINI!..

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June 17, 2019, 08:03:43 AM
 #9228

~
They can have 90% of the tickets and still not win the prize. Just yesterday I watched a video saying that if you tell people that 90% of lottery tickets were bought by one person they won't buy tickets, although they would buy without that information. But the chances are always the same, regardless of how many tickets were bought by this or that individual. I have one ticket out of 1,695,457 and I still hope to win. And the main reason for that is that I don't think this world is for rich people. From what I can see, it is not. Maybe it was in the past, but not today! Smiley

That's something I've seen before on another site. When a whale came in and started buying a huge amount of tickets every round lots of people started complaining even though it meant the prizes were much bigger. Something to do with irrational human psychology I think.

Yes, it has something to do with human psychology. If a million tickets for a lottery were bought by a million different people, it would seem like a fair competition because everyone would have equal chances of winning. But if one person has 900,000 tickets, people think it's unfair because his chances of winning are much greater than that of others. They ignore the fact that their personal odds of success are always the  same, regardless of whether they are playing against one person with 900,000 or 900,000 people with one ticket each. Is that kind of irrational? I bet it is.

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June 17, 2019, 08:06:55 AM
 #9229

Lotteries with big prizes and cheap tickets can't really be looked at in terms EV, they are about having a chance of a huge payback if you get ridiculously lucky. People enter those sort of competitions for the fun of it, not because they calculated it was a good bet.


that may be true , some people may be dumb enough to buy tickets even tho they can get way better odds by just going to a normal dice site and wager that 25K sats on X9900 then wager the winnings on X8.800

here you go a lambo worth 200$K with the same risk but much better odds of winning  Cheesy

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June 17, 2019, 08:16:39 AM
 #9230

that may be true , some people may be dumb enough to buy tickets even tho they can get way better odds by just going to a normal dice site and wager that 25K sats on X9900 then wager the winnings on X8.800

here you go a lambo worth 200$K with the same risk but much better odds of winning  Cheesy

You could make the same argument against player Powerball or Euromillions lotteries. People do it for other reasons, they like to spend all week dreaming about what they would do with the payout while they're waiting for the draw. That was the point I was making about it not being a rational decision about if it is a good bet or not. That's not what lotteries are about.

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June 17, 2019, 08:59:13 AM
 #9231



You could make the same argument against player Powerball or Euromillions lotteries. People do it for other reasons, they like to spend all week dreaming about what they would do with the payout while they're waiting for the draw. That was the point I was making about it not being a rational decision about if it is a good bet or not. That's not what lotteries are about.

I'm not exactly sure about these lotteries to be honest , I live in a country where lottery is shit as well but odds aren't insane like this
here the government takes like 30% cut on lotteries and give 70% of value in prizes

I'm pretty sure there is no lottery worse than this , at the moment the current tickets value is 4.1m$ and the prize is 200K$
and if people keep wagering the pool should worth over 10$m easily

just sharing my opinion for future in case you decide to make a new lottery


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June 17, 2019, 09:08:21 AM
 #9232

just sharing my opinion for future in case you decide to make a new lottery

None of those lotteries giveaway tickets.

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June 17, 2019, 09:25:18 AM
 #9233

just sharing my opinion for future in case you decide to make a new lottery

None of those lotteries giveaway tickets.

yeah but technically both bought and " earned " tickets hold the same value of the pool , givingaway tickets doesn't change the fact that the value is insanely low

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June 17, 2019, 09:35:58 AM
 #9234

yeah but technically both bought and " earned " tickets hold the same value of the pool , givingaway tickets doesn't change the fact that the value is insanely low

.... or to look at it another way the value of a ticket you got for free because you were wagering anyway is insanely high.

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June 17, 2019, 10:53:03 AM
 #9235

Cool, just realized that the rewards points came on last week and it wasn't a weekend. Only occurred to me now when I'm reading updates about randomizing the RP bonus times that this isn't on the weekend necessarily anymore. Good switch IMO. Not everyone is free on weekends, I know that when I'm most active usually its because of downtime at the office:)

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June 17, 2019, 02:41:56 PM
 #9236

Of course, you are giving those things, I do not mean "you are normally not giving anything back" in the sense of reward points and etc, I mean you normally do not give lambo, this is the first time you are doing it and maybe last time but at least this is not normally something you do, I was only talking about the lamborghini.

It means if you are giving away to people who wager you are already giving the reward points the referral income the lottery tickets and everything else but the difference is you are also now giving lambo tickets which I think should mean there must be an increase in the wagered amount, considering that is 5% house edge as well that must be calculated as well, I am not saying you will profit greatly but taking ALL of wagered amount out is wrong calculation as well, we can neither calculate it all but we can't take it all out neither, some of it must be thanks to lambo as well.

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Csmiami
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June 17, 2019, 03:21:48 PM
 #9237

I am not saying you will profit greatly but taking ALL of wagered amount out is wrong calculation as well, we can neither calculate it all but we can't take it all out neither, some of it must be thanks to lambo as well.

Welp, translating that into numbers....

TheQuin says that 99.5% of the tickets come from the wagering, so 1,787,537 *0.995.....1,778,600 (rounding up 599.315)

To get one ticket, you need to wager at least 0.005, so 1,778,600 * 0.005.... 8893BTC wagered

I'm guessing that the majority of that cromes from the dice game rather than betting, so let's assume that 65% from hi-lo and 35% from betting. Since betting is a prize pool and I believe there is no comission there,

8893BTC * 0.65......5780.45BTC have been wagered in this hypothetical situation to get those tickets.

If we apply the 5% house edge..... 5780.45 * 0.995.....5751.54775 BTC go back to the users (multipliers not applied here and I'm not sure the house edge was counted that way Undecided )

So if eveytinh up there has been done the right way (I wish), Freebitco.in would have won 28.90225 BTC on house edge to give those tickets away (not taking the return to users who win into account).

The lambo is worth $200.000 or in btc..... 21.5BTC

There are almost 5 months left, so even when you take the winnings on the Hi-Lo game into account, Freebitco.in will be doing a shitload of money from this


Please right anywhere I may have gotten off, my head is not working the right way today so I most likely made some mistakes on the way

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June 17, 2019, 04:44:30 PM
 #9238

I am not saying you will profit greatly but taking ALL of wagered amount out is wrong calculation as well, we can neither calculate it all but we can't take it all out neither, some of it must be thanks to lambo as well.

Welp, translating that into numbers....

TheQuin says that 99.5% of the tickets come from the wagering, so 1,787,537 *0.995.....1,778,600 (rounding up 599.315)

To get one ticket, you need to wager at least 0.005, so 1,778,600 * 0.005.... 8893BTC wagered

I'm guessing that the majority of that cromes from the dice game rather than betting, so let's assume that 65% from hi-lo and 35% from betting. Since betting is a prize pool and I believe there is no comission there,

8893BTC * 0.65......5780.45BTC have been wagered in this hypothetical situation to get those tickets.

If we apply the 5% house edge..... 5780.45 * 0.995.....5751.54775 BTC go back to the users (multipliers not applied here and I'm not sure the house edge was counted that way Undecided )

So if eveytinh up there has been done the right way (I wish), Freebitco.in would have won 28.90225 BTC on house edge to give those tickets away (not taking the return to users who win into account).

The lambo is worth $200.000 or in btc..... 21.5BTC

There are almost 5 months left, so even when you take the winnings on the Hi-Lo game into account, Freebitco.in will be doing a shitload of money from this


Please right anywhere I may have gotten off, my head is not working the right way today so I most likely made some mistakes on the way

My calculations put the amount of tickets bought at roughly $20 000+  Roll Eyes  <Sounds crazy, if you look at the membership totals and the amounts spend on other features on this site.>

What was the amount spend on other gambling options and also withdrawals in the past, if only 2+ BTC worth of tickets has been sold for a huge prize like this? I know I spend a lot of dollars on tickets for this, but the test will be when someone comes forward to say that they bought large amounts of tickets with their own money.  Roll Eyes

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June 18, 2019, 08:38:05 AM
 #9239

~

My calculations put the amount of tickets bought at roughly $20 000+  Roll Eyes  <Sounds crazy, if you look at the membership totals and the amounts spend on other features on this site.>

What was the amount spend on other gambling options and also withdrawals in the past, if only 2+ BTC worth of tickets has been sold for a huge prize like this? I know I spend a lot of dollars on tickets for this, but the test will be when someone comes forward to say that they bought large amounts of tickets with their own money. Roll Eyes


I personally bought one ticket with my own money, and although I have 0.007+ BTC on my freebito.in balance, and thus I can theoretically wager 0.005 BTC placing a bet with 94.06% win chance and receive another ticket I'm afraid of doing so because losing 0.005 BTC in one second is not what I want. ... I mean, I think people who have obtained their tickets from wagering definitely deserve them because wagering 0.005 BTC is not an easy task.

If I wanted a lot of tickets for this lottery, I would rather buy them with my own money than wager 20x of the ticket price to receive just one. So, I think, there are big chances of seeing posts from those people here.

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June 18, 2019, 09:38:15 AM
 #9240

If I wanted a lot of tickets for this lottery, I would rather buy them with my own money than wager 20x of the ticket price to receive just one. So, I think, there are big chances of seeing posts from those people here.

Agreed, but when doing so, not only do you get a golden ticket; you also qualify for the monthly wagering contest (and make your referer happy).

I mean, the guy at top of the leaderboard has wagered  268.26064000BTC since June first, obtaining 10,000$ (if no one wagers more than him), 53,652 golden tickets, 53,652,128 lottery tickets and 107,304,256 reward points (at 1 satoshi each atm, so 1.07304256 BTC worth).

His referer has earned $5,000, 1.60956384BTC and the lottery tickets and reward points are tricky here, because
Quote
We also give you 1 free lottery ticket and 2 reward points for every FREE BTC roll your referrals play!

Hi-Lo game is more than just a multiply game where you get a ticket for the lambo; there is a very well designed system behind it

Honestly, every day I get more amazed seeing how well wetsuit has managed to create a site in which he "gives free bitcoins" with only one community manager and himself

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