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Author Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest  (Read 408347 times)
TheQuin
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May 29, 2019, 08:17:43 AM
 #9061

1) Given freebitco.in added their sportsbook/betting platform making them not just a faucet/wallet but now also a sportsbook, is it safe to withdraw BTC from freebitco.in directly to an exchange? I'm starting to think no, it's not...

We have been a gambling site since 2013 so nothing changed. Check the terms of service of any exchange you use.

2) The betting seems to be parimutuel (like horse racing) in that odds are not decided until the betting period is closed, is that correct?

Yes.

And I saw the formula for the time weight multiplier in the website and understand the GENERAL concept (earlier wagers are paid out more with a higher weight of the prize pool), but I am still unable to have a good sense of what my wager and therefore payout is potentially worth. I feel some betters like myself really value being able to detect whether or not we have an edge in regards to a specific wager, so if it's unknown to us (because we don't know what odds we are getting or what the ultimate payout will be for our bet), many people will simply not bet to be safe.

It is player versus player betting so you can't know in advance what the other players will do after you place your bet. That does make it difficult to know if you have an 'edge' but it can also add to the game.

Have talked with numerous other bettors I know on various platforms and forums (not bitcointalk specifically) and I know they are also confused in regards to these two (2) questions, so any clarification here (and especially added to the website itself) would be greatly appreciated. Several year fan of freebitco.in and hope to see you guys and gals continue to grow.

Thanks in advance.

I'll see if we can put more information up.

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May 29, 2019, 08:23:37 AM
 #9062



2) The betting seems to be parimutuel (like horse racing) in that odds are not decided until the betting period is closed, is that correct? And I saw the formula for the time weight multiplier in the website and understand the GENERAL concept (earlier wagers are paid out more with a higher weight of the prize pool), but I am still unable to have a good sense of what my wager and therefore payout is potentially worth. I feel some betters like myself really value being able to detect whether or not we have an edge in regards to a specific wager, so if it's unknown to us (because we don't know what odds we are getting or what the ultimate payout will be for our bet), many people will simply not bet to be safe.



I just made a bet on Liverpool to win the champions league final and here the so-called OUTCOME ODDS is 1.64 but it seems like that odds will be adjusted after the event ends.
and when 61% has Liverpool as the favorite, then the odds will probably fall to 1.39% or below

From FreeBitco
Quote
Estimated odds for this outcome. Actual odds will be calculated after betting ends for this event.
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May 29, 2019, 08:35:18 AM
 #9063

This is really a good bitcoin faucet though for now they only give few cents in BTC compared before as it seems that they adjusted it due to the fact that bitcoin market price before has a huge difference to which now BTC has gone expensive reaching to 8.7K USD per BTC. So, it is expected for the gambling site to adjust the free BTC giveaways.

There are other bitcoin faucets that could also be used for gambling but there is no better than this gambling site as a bitcoin faucet knowing that this site is one of the oldest site for BTC faucets. Good job on the team manages this project.
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May 29, 2019, 08:36:34 AM
 #9064


Have talked with numerous other bettors I know on various platforms and forums (not bitcointalk specifically) and I know they are also confused in regards to these two (2) questions, so any clarification here (and especially added to the website itself) would be greatly appreciated. Several year fan of freebitco.in and hope to see you guys and gals continue to grow.

Thanks in advance.

I'll see if we can put more information up.


Thanks for the quick response to my questions, @TheQuin. Much appreciated. Will relay the information to others I know.
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May 29, 2019, 08:49:56 AM
 #9065

~as it is common knowledge amongst bettors that exchanges will often shut down your account permanently if you directly withdrawal from a sportsbook to their exchange (as they don't want to associate themselves with gambling and/or potentially illicit coins).
~

From what I know it only concerns US based exchanges, Coinbase in particular. But, in fact, I doubt that even Coinbase will confiscate your funds in case you you've made a withdrawal from a sportsbook. Yes, I've read stories about "Coinbase blocking accounts that withdraw from gambling sites", but what "blocking" actually means here? They can block you from using their site, but I think they don't have the right to take your coins.

Also, are there other sites like that actually? Because I've managed to find only Coinbase-related stories. Maybe it's better just to not use Coinbase then?

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TheQuin
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May 29, 2019, 08:57:58 AM
 #9066

Maybe it's better just to not use Coinbase?

That is very sound advice.

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May 29, 2019, 09:00:09 AM
 #9067

~as it is common knowledge amongst bettors that exchanges will often shut down your account permanently if you directly withdrawal from a sportsbook to their exchange (as they don't want to associate themselves with gambling and/or potentially illicit coins).
~

From what I know it only concerns US based exchanges, Coinbase in particular. But, in fact, I doubt that even Coinbase will confiscate your funds in case you you've made a withdrawal from a sportsbook. Yes, I've read stories about "Coinbase blocking accounts that withdraw from gambling sites", but what "blocking" actually means here? They can block you from using their site, but I think they don't have the right to take your coins.

Also, are there other sites like that actually? Because I've managed to find only Coinbase-related stories. Maybe it's better just to not use Coinbase?

Per people I know and other forums (Reddit, SBR, etc), yes, exchanges can and will shut down your account. They will return your funds (I never stated they took/kept your money), but you are not able to use their services again. There are also rumors that this hinders your ability to utilize other exchanges since information like this may be shared between them.

Coinbase is the most often cited one, but it's not the only one. And there seem to be triggers for them or any exchange to even do this, as not all bettors who withdraw directly from a sportsbook to an exchange directly are flagged.
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May 29, 2019, 02:37:38 PM
 #9068

This way is also not fair enough,

I think you are confusing your likes and dislikes with fairness.

Nope, I really do like it but somehow it does not make any sense to me when you do in that way. It will be just the same as the first time you set it in the end of month. 23th and 30th will be just one week difference so it does not make any huge difference unless there is some pump and dump like what I said before

That does not make sense to you, because that indeed doesn't make sense. There's no point betting early unless odds are locked (and they aren't). Betting itself was nice idea, BS execution. I'll leave it to others.

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May 29, 2019, 04:26:38 PM
 #9069

Has anyone's affiliate income went down in the recent month? For some reason my affiliates are not using it as much as they used to, I will need to readjust my advertisement and get some more affiliates I suppose, I wondered if it was just me or did others had the same as well. The first thing that came to my mind was "do they use their money to buy tickets" because that is the only difference in the past month however the deal is they are not even using the free faucet part as much as they used to which means it has nothing to do with the contest.

Maybe its just pure luck and shouldn't expect them to do the same over and over again for too long. I was super excited about the contest because I thought maybe some of my affiliates would gamble their money for a chance to get the ticket but I suppose that didn't happen that much.
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May 30, 2019, 12:43:44 AM
 #9070

Has anyone's affiliate income went down in the recent month? For some reason my affiliates are not using it as much as they used to, I will need to readjust my advertisement and get some more affiliates I suppose, I wondered if it was just me or did others had the same as well. The first thing that came to my mind was "do they use their money to buy tickets" because that is the only difference in the past month however the deal is they are not even using the free faucet part as much as they used to which means it has nothing to do with the contest.

Maybe its just pure luck and shouldn't expect them to do the same over and over again for too long. I was super excited about the contest because I thought maybe some of my affiliates would gamble their money for a chance to get the ticket but I suppose that didn't happen that much.

One thing that has changed dramatically in the last month is the value of Bitcoin. If you are looking at it in BTC terms a 50% reduction in income means it stayed the same in USD terms. Everything on the site is fixed to USD value so that would be what is expected.

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May 30, 2019, 03:39:37 PM
 #9071

--snip

One thing that has changed dramatically in the last month is the value of Bitcoin. If you are looking at it in BTC terms a 50% reduction in income means it stayed the same in USD terms. Everything on the site is fixed to USD value so that would be what is expected.
That would have been valid if I was getting less money from my affiliates who are still doing the same thing but from looking at it they are not even using free faucet as much as they used to, they are not gambling as much as they used to, these are probably affects of bitcoin going up for sure but its not directly involved like how prices are tied to dollars so even if my affiliates do what they used to do I would get less, thats not the case.

I guess there is like a lifespan deal in the website as well, if you are interested in all of the aspects of freebitcoin like me, you use every each of them, I get the free faucet even to this day even though it is incredibly small amount for me, I still gamble, I buy lottery tickets (and earn some) and I have affiliates, I have bought golden tickets and even saving up my reward points to get one of the hardware wallets.

However if you do just gambling or just faucet you are basically using only one part of a huge website which they probably do like for 2-3 months and leave, I need to find a strategy to appeal to my affiliates in a way to showcase ALL aspects of freebitcoin and not just faucet and gambling alone. I don't want to get a new banner made and spend money on that but that seems like the quickest option for now.
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May 30, 2019, 04:15:06 PM
 #9072

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

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May 30, 2019, 06:50:09 PM
 #9073

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

I was going to comment the same thing. I had recently crossed the 100 referral threshold but now I'm down to 82.

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May 30, 2019, 08:29:17 PM
 #9074

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

I was going to comment the same thing. I had recently crossed the 100 referral threshold but now I'm down to 82.

Isn't it obvious?

Some of your referrals were probably fake&cheaters and they got banned. I believe they do manual checks from time to time and ban the abusers. If they don't do that, soon the service won't be able to sustain itself.




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May 30, 2019, 08:34:26 PM
 #9075

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

I was going to comment the same thing. I had recently crossed the 100 referral threshold but now I'm down to 82.

Isn't it obvious?

Some of your referrals were probably fake&cheaters and they got banned. I believe they do manual checks from time to time and ban the abusers. If they don't do that, soon the service won't be able to sustain itself.
A decent faucet with site having some good affiliate percentage rates then there no doubt that there would be abusers and as a gambling site owner or management
will normally looks into this matter so no surprise if numbers of ref been reduced yet most of the time there would be lots of dummy.cheaters account.

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May 30, 2019, 09:25:08 PM
 #9076

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

I was going to comment the same thing. I had recently crossed the 100 referral threshold but now I'm down to 82.

Isn't it obvious?

Some of your referrals were probably fake&cheaters and they got banned. I believe they do manual checks from time to time and ban the abusers. If they don't do that, soon the service won't be able to sustain itself.

I'm not sure cheating is why they were deleted. Looking through my referrals it looks like it was mostly dormant accounts that never made a claim were the ones that got deleted.

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May 30, 2019, 11:00:42 PM
 #9077

Hey Quin, what happened to some of the referrals? Noticed mine has dropped by nearly 30.

I was going to comment the same thing. I had recently crossed the 100 referral threshold but now I'm down to 82.

Isn't it obvious?

Some of your referrals were probably fake&cheaters and they got banned. I believe they do manual checks from time to time and ban the abusers. If they don't do that, soon the service won't be able to sustain itself.

I'm not sure cheating is why they were deleted. Looking through my referrals it looks like it was mostly dormant accounts that never made a claim were the ones that got deleted.

Yes, it's accounts that have never been used, no rolls, no deposits, no referrals, no activity at all. We're just clearing them out of the database.

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May 31, 2019, 02:07:12 AM
 #9078


Yes, it's accounts that have never been used, no rolls, no deposits, no referrals, no activity at all. We're just clearing them out of the database.

I see, that's good to know.

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May 31, 2019, 03:00:28 AM
 #9079


Yes, it's accounts that have never been used, no rolls, no deposits, no referrals, no activity at all. We're just clearing them out of the database.

I see, that's good to know.

It's going to happen regularly now. Any new accounts will be deleted if they haven't been used at all after 15 days.

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May 31, 2019, 03:24:39 AM
 #9080


It's going to happen regularly now. Any new accounts will be deleted if they haven't been used at all after 15 days.

Noted. Since this happened for the first time, that left us a little surprised.

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