How to win in Freebitco.in

[coinlocket$]

I disagree. Taking into account that the house edge is 5%, you are likely to lose over 17 BTC while wagering 354 BTC. And the prize, $5,000, for the 1st place is less than 1 BTC, so it doesn't make much of a sense. Same goes for the second prize, $2,500. The refs of the user that won the 2nd prize wagered over 94 BTC, meaning that they lost around 4.7 BTC in the process, so being the same person in that case doesn't make much of a sense either.

So, I tend to agree with @coinlocket$ here. Those winners of the ref contest somehow have managed to gain hundreds, if not thousands, referrals. They are either famous on various popular social media platforms, or very clever, or both.

I'm not fully sure about it.
The following can be an absurd but possible example:

Account A refer Account B

Account A

400 BTC wagered can be 20 bets of 2 BTC with 2.01 risk so on those 20 bets, you will lose on the long run the 1% (100 bets you will lose the bet), in this case, you will do only 20 bets so without variance you will lose a vale of 2/5=0.4 BTC

For 400 BTC the 1st account will get (Assuming 100 BTC on the account)

1. @ 0.0109589% interest= 1 BTC
2. 1 point for every 0.00000500 BTC, so for 1 BTC 200k, for 400BTC (400*200.000) 8.000.000 RP those can be converted in 0.08 BTC


PLUS THE WINNING ON THE CONTEST

The second account will have,
1 0.40% of wager / bet, SO 400btc (40%) 1.6 btc
25% of daily interest (25% of 1 btc assuming 100 btc) 0.25 btc

PLUS THE WINNING OF THE CONTEST

So, Am I missing something or one with 100 btc and 2 accounts will end with 100(0.4btc in 20 bets considering variance=0)+1 btc interest +0.08+1.6+0.25+winning of both contenst(around 3 btc)

Starting with 100 you will get

100-0.4+1+0.08+1.6+0.25+3=105.53 BTC or I'm doing something wrong?

[1714933455]

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[docthusinh]

I disagree. Taking into account that the house edge is 5%, you are likely to lose over 17 BTC while wagering 354 BTC. And the prize, $5,000, for the 1st place is less than 1 BTC, so it doesn't make much of a sense. Same goes for the second prize, $2,500. The refs of the user that won the 2nd prize wagered over 94 BTC, meaning that they lost around 4.7 BTC in the process, so being the same person in that case doesn't make much of a sense either.

So, I tend to agree with @coinlocket$ here. Those winners of the ref contest somehow have managed to gain hundreds, if not thousands, referrals. They are either famous on various popular social media platforms, or very clever, or both.

So what do you say regarding to current month position 1 for both wagering & referal contest? The one single top 1 wagerer is the only one income source for the top 1 referer. It hard to believe that the referer catched that much fishes and only one of his fishes is gambling

Few things may take into consider to cover up that 5% edge:
1) Taking into account 500 satoshi wagering reward including x2 ..x5 ..x10 for 2 days a week..much more RP to be exchanged -- this one may be the key to recover as much as it can for the 5% edge.
2) Optimized bot to resolve rounding different of lower range 0.01-> 0.5 or higher range 0.51 -> 0.99...one can do it correctly there will be much different in calculating bet size to maintain a minimum profit after a WIN.. thus requires lesser amount to take as much risk as with higer required amount thus withstand much higher "dead streak" which tend to uncommon to be happened (taken into account the winning cap is 20btc), thus reducing 5% edge.
3) Make use of as fast as possible machine/ and network..may be even hiring a machine within the same data centre as the site's domain/webserver i.e both the wagerer & the site stay on the same hosting / VPS provider. As a normal client pc there may be as less as 4 bets per second max...however with the mentioned case..it can have x3 speed which is 12+bets/sec.

[docthusinh]

Dude, you lighted up me regarding to the interest of saving account.

4.08% per year -> 0.34% a month....so he just throw in 5000 BTC to let it sit there for one month/duration of the contest to pay back the 5% edge (17BTC interest). And one may arise question who is stupid enough to put that 5000btc in this site, well if you research how bank work then this site is the same, they need liquidity and thus this big whale is certainly invited (or even an agreement IRL) by the site owner to have his bitcoin sit there to maintain its liquidity level..lol.

[el kaka22]

If you are playing on freebitcoin to win than you are missing out the idea of what gambling is. Gambling is entertainment, if you want to have fun and enjoy gambling couple of rolls than that is fine but if you are trying to win money and shocked when you lose all your money I am sorry but you have no idea what gambling is.

For example, I just bought 10 tickets for golden ticket thing they are doing right now for the lambo giveaway, I know there is a HUGE chance I don't win but hey at least its fun to think that I may actually get 200 thousand dollars for that 10 tickets, I am not going to be pissed at the fact that I lost when I lose but I am going to be enjoying all the way to that loss anyway. Learn to have fun gambling and not focus on the money so much and you can actually get some fun out of it.

[daarul50]

If you are playing on freebitcoin to win than you are missing out the idea of what gambling is. Gambling is entertainment, if you want to have fun and enjoy gambling couple of rolls than that is fine but if you are trying to win money and shocked when you lose all your money I am sorry but you have no idea what gambling is.

For example, I just bought 10 tickets for golden ticket thing they are doing right now for the lambo giveaway, I know there is a HUGE chance I don't win but hey at least its fun to think that I may actually get 200 thousand dollars for that 10 tickets, I am not going to be pissed at the fact that I lost when I lose but I am going to be enjoying all the way to that loss anyway. Learn to have fun gambling and not focus on the money so much and you can actually get some fun out of it.

If so, then you are only looking for luck and hope that luck falls on you. I am happy with the principle of gambling people like you that in gambling money is not everything. However, satisfaction and pleasure in playing are far more important in gambling.

sorry OP, If the discussion above is a little off the topic discussed. I don't really like playing on freebit, if I visit the site I just play a faucet to take a few free btc.

[docthusinh]

I really don't think you can do anything to them even in the case that the real owner of the site may be US resident too, he will not be that innocence to leave a trace to the identity of himself. The entity registered as a company somewhere on an island (i forgot the name right now) which allow this kind of business, not under the control of any Lottery Rules and the one you've mentioned is just a kind of review company..which get paid to do so. I think they don't even care a single second regarding to that, or Cloudflare what they can do? cancel  the contract? well they will just switch to another service, Cloudflare lost a customer, they use a new service provider so no big deal for all.

As for your case I am not sure how it was to cause the multi account acussation, but you may definately get bursted with proof, they have fingerprint which use few algorithm to conclude the case if it is originated from one Public IP & one single PC/laptop or not (i expect you understand Pulic IP and Local IP of every single computer/laptop). If they can proof that by using a recognized algorithm, it show you did multi-accounting then you will loose. For the case of wagerer-referer, it just example, and if it is real the guy may have enough level of expertise to bypass the checking algorithms, they can't proof or catch then this guy can get away well. Lastly, even so, for a business if they can conclude that the case bring them more benefit than harm they can just decide to let it be, lol.

[STT]

For example, I just bought 10 tickets for golden ticket thing they are doing right now for the lambo giveaway, I know there is a HUGE chance I don't win but hey at least its fun to think that I may actually get 200 thousand dollars for that 10 tickets, I am not going to be pissed at the fact that I lost when I lose but I am going to be enjoying all the way to that loss anyway. Learn to have fun gambling and not focus on the money so much and you can actually get some fun out of it.

Exactly, its just a bit of fun and a dream to win that Lambo as its so incredibly unlikely like a national lottery type ticket which is almost always not going to pay off sadly.     Thats fine, anyone kidding themselves they'll turn a profit on this is kidding themselves and really wasting their time unless you got time to waste then I guess its no loss
I recommend sports gambling if you want to dream of figuring out a system of how to win, at least you have open data on the teams to judge there and its actually possible to figure out a winning streak ahead of time

[iv4n]

For example, I just bought 10 tickets for golden ticket thing they are doing right now for the lambo giveaway, I know there is a HUGE chance I don't win but hey at least its fun to think that I may actually get 200 thousand dollars for that 10 tickets, I am not going to be pissed at the fact that I lost when I lose but I am going to be enjoying all the way to that loss anyway. Learn to have fun gambling and not focus on the money so much and you can actually get some fun out of it.

Exactly, its just a bit of fun and a dream to win that Lambo as its so incredibly unlikely like a national lottery type ticket which is almost always not going to pay off sadly.     Thats fine, anyone kidding themselves they'll turn a profit on this is kidding themselves and really wasting their time unless you got time to waste then I guess its no loss
I recommend sports gambling if you want to dream of figuring out a system of how to win, at least you have open data on the teams to judge there and its actually possible to figure out a winning streak ahead of time

Golden ticket is a dollar only, 25k satoshis, a bit more at this price, but who counts? It`s a lottery, classic lottery and you know how much chances anyone from us have to win a first prize..Well I have some golden tickets too, I didn`t bought them I won them after I wagered some amount on dices, just in case, who knows what will happen.
I will go with you on this STT, sports betting is much better for making profit than dices, I will just add poker on that list.

[Nadziratel]

If you are playing on freebitcoin to win than you are missing out the idea of what gambling is. Gambling is entertainment, if you want to have fun and enjoy gambling couple of rolls than that is fine but if you are trying to win money and shocked when you lose all your money I am sorry but you have no idea what gambling is.

That's exactly what it is, though. People's expectations from gambling always win. But, unfortunately, there is no such thing as a permanent win. If you want to have fun and win while having fun, you can try something. But the loss is always part of this event.

[Betwrong]

~
I'm not fully sure about it.
The following can be an absurd but possible example:

Account A refer Account B

Account A

400 BTC wagered can be 20 bets of 2 BTC with 2.01 risk so on those 20 bets, you will lose on the long run the 1% (100 bets you will lose the bet), in this case, you will do only 20 bets so without variance you will lose a vale of 2/5=0.4 BTC
~

400 BTC wagered can be 200 bets of 2 BTC, not 20.

Considering the house edge, 5%, you can perfectly lose 20 BTC within 200 bets. ...

Nevertheless, I too feel that their referral system is being abused, and I made a post about that today in their official thread.

[Alpinat]

You have a good technique there mate but that technique doesn't work to everyone the system of freebitco.in is aggressive. You need to be lucky to won in that gambling site. I guess you should need also a capital for you to start gambling and have a high chance of winning.

[jak3]

I don't get it. You are just using a custom martingle stratgy which is going to make you losses.and why are you doing it. My method of wining is never play for making coins also gambling to cover your transaction fees. No greed no loss.

[coinlocket$]

400 BTC wagered can be 200 bets of 2 BTC, not 20.

Considering the house edge, 5%, you can perfectly lose 20 BTC within 200 bets. ...

Nevertheless, I too feel that their referral system is being abused, and I made a post about that today in their official thread.

You right, let's do the math again.

Assuming 100 BTC on account A and 400 BTC weighed.
Account A refer account B.

Account A

Interest for 1 month: 0.0109589%*30 (100btc)=0.328767 BTC
Reward points = 1/0.00005*400=80.000.000 RP
Exchanged RP= 0.8 BTC



With 200 bet and 5% house edge on the long run, you will lose = 5% 20 BTC = 10 BTC
Winner of the contest = 2 BTC

Account B
Interest= 0%
MULTIPLY BTC / BETTING 0.40% of wager / bet =0.4% 400= 1.6 BTC
EARN BTC 25% of daily interest, big question marks= 25% of 0.328767? = 0.08 BTC

Winner of the referral contest 1 BTC

So assuming that you have 2 accounts and 100 BTC on account 1, you will end with

100+0.328767+0.8-10+2+1.6+0.08+1= 95.808767 BTC

[fillippone]

Sorry,
But I don’t get the point.
you are talking about this comuteations as it were talking about arbitrage, but this is not arbitrage.
Arbitrage is risk-free gain without using capital.
Here you have two differences:

• you have to use your own capital (you could simply borrow the needed BTC deducting cost of borrowing BTC from the expected P&L of the trade).
  
• you are losing control of your bitcoins, so you are exposed to counterpart running away with your bitcoins.
  Of course this risk has to be taken into account.
  

On this two considerations:

• If I were a scammer I would construct a scam trying to mask a little bit. As this BTC community paranoid geeks are over represented, I would hide the access into the scam in an apparent glitch of the formula, just to attest people wanting to exploit the system.
  
• exit scams where the counterpart simply runs with the money are far common that thought. Do you remember Fullt Tilt/Poker Jesus scam?
  

[LUCKMCFLY]

I think that big bets, that is to say, starting from 2BTC should be made at the beginning and not give so much duration, because as time passes, it is a game in which the strategies usually work for a very short period of time.

I think the best thing is to be willing to lose a considerable number to play without any kind of fear quickly betting a lot on good luck and with the strategy to the maximum changing it at the right time.

The provably fair ensures that each move gives you the audit at the time you want and that the moves are legal, from this principle is where the strategy if it has value, but chance, or what is random, weighs much more , what we commonly call Luck.

[MakeMoneyBtc]

I think that big bets, that is to say, starting from 2BTC should be made at the beginning and not give so much duration, because as time passes, it is a game in which the strategies usually work for a very short period of time.

I think the best thing is to be willing to lose a considerable number to play without any kind of fear quickly betting a lot on good luck and with the strategy to the maximum changing it at the right time.

The provably fair ensures that each move gives you the audit at the time you want and that the moves are legal, from this principle is where the strategy if it has value, but chance, or what is random, weighs much more , what we commonly call Luck.

I'm curios to see who's the person that actually has such a huge bankroll of dozens of btc to try such a strategy when you know there is a risk of losing your money, even though that's very small. I keep seeing this strategies where people talk about accounts with 100btc but that's surely got to be exaggerate since we are talking about half a million dollars willing to gamble.

[prtty2gal2]

Is there anyone still play https://freebitco.in
I can see the last post related to freebit is very old.

If you still playing freebit. Can you share how to win?

Here's my own rule to win. Lets discuss about that.

1- Bet at 1/1000 your balance
         Exp: you have 1000 sat => bet 1 sat per roll
2- If you loose => x2 your bet
         Exp: you bet 3 sat and loose => bet 2x3 = 6sat
3- If you win => return to base bet and change type of bet
         Exp: Hi -> Lo, or Lo -> Hi
4- THE MOST IMPORTANT: after 4 times you loose, its time to stop lost. Return bet to exactly 1sat untill you get green. After that, back to step 1.

The 4th rule is the most important to keep your balance. But its is really hard to keep us in rule. You need practice very much.

======
Any one else has your rule to win freebit or any new idea? please share here, i will happy to practice with it.

Nah I’m never going to play that rubbish game again. That’s how I ended up losing my bitcoins without gaining anything, that thing is very useless. If you don’t want to lose your bitcoins it’s better you just do faucets once you’re there forget that Hi-Lo game or whatsoever it is that they are using to rip people. I even tried to play automatic but I was still losing my coins. I gain a little profit and lose more than what I gained , it doesn’t make any sense man.

[okala]

That's exactly what it is, though. People's expectations from gambling always win. But, unfortunately, there is no such thing as a permanent win. If you want to have fun and win while having fun, you can try something. But the loss is always part of this event.

there is never a sure bet in gambling no Matter the mechanism you are using to play and place your bet, gambling is an unpredictable game because you are not the only one involved in playing the game. While we are having fun play gambling games we have to be lucky to win at the end.

[slaman29]

That's exactly what it is, though. People's expectations from gambling always win. But, unfortunately, there is no such thing as a permanent win. If you want to have fun and win while having fun, you can try something. But the loss is always part of this event.

there is never a sure bet in gambling no Matter the mechanism you are using to play and place your bet, gambling is an unpredictable game because you are not the only one involved in playing the game. While we are having fun play gambling games we have to be lucky to win at the end.

This is the only truth that gamblers ignore. Winning is never permanent, neither is it the expected outcome, no matter how long you are trying or how hard. In fact, the simple truth is unless you are the house with an edge, then the longer you play, the more you gamble, the closer you are to losing if you haven't already. Keep it in mind and you will slowly begin to enjoy gambling for what it is: entertainment.

[Betwrong]

~
So assuming that you have 2 accounts and 100 BTC on account 1, you will end with

100+0.328767+0.8-10+2+1.6+0.08+1= 95.808767 BTC

In other words, a player will lose more than 4 BTC using that strategy, right? That's on average. In reality he/she can lose 100 BTC or win 100 BTC, depending on luck, but risking 100 BTC is pretty irrational, if you ask me.

So, we can conclude that on average neither the strategy you described nor the one described in the OP will help to outplay the site. And it's no wonder that they can't be outplayed so easily. Freebitco.in is one of the oldest Bitcoin-related sites. If they weren't smart, they wouldn't last so long.