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In this article i wanna talk to you about freebitco.in
In this article we will talk about
-Inner gambling system (with a simulation i made)
-Where does the website takes its money
-The stats i achived after almost 5 years of usage.
What gives a website/service reliability?
A number to call?
A support email?
A VAT number?
Well, many websites have this information shown to prove to the users that they are not a scam but they are a real working service.
The website we are considering doesn't have any of those (just a twitter account).
I find it important to talk about reliability when talking about this website because it is one of the few websites who "built trust" in years of "legit" work.
As i just report information i would lie if i told you that noone has ever claimed to have been scammed from this website (later we will see how), but since i have used this website (more than 5 years) i never had any problems and all the people that i know in real life, who i know that use this website, have never been scammed.
We will review each single game/opportunity that this website gives in order to give a full overview of the website for the people not registered.
The first tab of the website is FREE BTC, it has a table in which are shown the possible rewards for a roll.
As you can see the rewards can go from very small to very big.
You have 1/10000 chance of winning 200$ instantly (in btc of course).
This page is very intuitive, there is just a roll button, each time you click it will roll a number and you will receive the reward corresponding to the number.
You can roll for free every hour.
There is a google captcha which will be taken off if your balance reaches above 100$.
It doesn't matter how you reach 100$, you can earn all on the website or you can deposit. (personally i didn't deposit)
Still in this page you will see an orange box explaining you how to increase your Free roll reward amount.
Basically, you will see a percentage, each time that the percentage reaches 100%, your reward will increase (only the lowest reward, not all the rewards)
You can stack up this bonus 19 times reaching 20 times the value of the base reward.
So if you reach 3 times 100% and the base reward at the moment is 100 satoshi, you will get 100+100+100+100 for each roll winning the lowest reward.
How to increase the percentage? Mainly playing the multiply btc "game", which leads us to the next tab!
In this paragraph we will actually discuss about the probability and i will show a simulation to prove that what happens in the website is not fake.
In the first place i have to say that i played this game and i came to some conclusions that may seem obvious, i will share them with you soon.
In this tab you will see a basic interface for betting your balance and an history of your recent win/loss.
How the game works?
Is a sort of dice game with 10000 numbers and a variable house edge.
For each bet that you make you will choose bet odd (which means how much you "multiply" your win) and if you bet on "High" or "Low", then the website will randomly generate a number.
In the base of your bet odd you will have a fixed chance of winning.
If you use a bet odd of 2 the winning chance is 47.5% both for high and low and 5% sure lose (also called house edge)
-A few examples:
Amount: 10 satoshi
Bet odd: 2
Winning chance: 47.5%
Bet on: Low
This set up means that you only win if the rolled number is below 4750.
Remember that there are 10000 numbers and only 9500 are possibly winning (depending if you bet on high or low) and 500 numbers are sure lose.
Amount: 50 satoshi
Bet odd: 50
Winning chance: 1.9%
Bet on: High
This set up means that you only win if the rolled number is above 9810.
With this bet odd the house edge must be bigger or they would lose too much money so there are only 380 possibly winning numbers and 9620 losing numbers.
You can see by yourself that how the game is build, they don't need to cheat, is literally written that you will slowly lose all your money if you use it.
On this game i past long time testing all sort of strategies, all work in a short term but on a long term they end up failing because the law that 5% is for the house is sure.
PAY ATTENTION!!!!!!!!!! Don't belive anyone who told you that they found a way to cheat the game, it is impossible, and i don't say that for lack of knowledge, i can assure you. I found many persons claiming that they have the "winning code" (an external application to install and make run) that will make bets for you and win for you, all for the price of... your registration with their referral. They may even tell you to put in 500$ or more or the code wouldn't work. Let me tell you, they wrote a code, yeh, but not for winning, for loosing at the slowest rate possible, thisway they will gain the most from the referral commission. Some of them even livestream their code "working" but after a deep look you too can realize that their code is not making them win anything with the multiply game and that all they are gaining is from their referrals wasting their money.
Some people may want to try the Martingale strategy but that doesn't work too, it seems the safest way but is actually the worse.
This strategy just means to bet, each time that you lose, the double of your lost amount. This way you would always cover your losses. This may work with large bet amounts and only betting 3-4 times at max.
In this case where you are more willing to bet very little amounts, many times, i can assure you that you can find streaks of 20 or more losing numbers (confirmed both by simulations and real game).
A streak of 20 losing numbers played the martingale style means, betting 1 satoshi, losing undreds of dollars.
This is what you will lose when you try the Martingale strategy and you find a streak of 20 losing numbers starting betting from 1 satoshi:
1 million satoshi = 350$ or more
You don't belive that 20 losts or more in a row are possible in a fair game?
Then let's make the simulation i told you before:
I will be using python and i will try to explain each operation i used to count how many consequential losses are possible.
Of course we did 50000 operations because you will want to bet small amounts and to stack up money you are willing to do a lot of bets.
The result of the simulation basically can be any from 10 to 30, so don't use Martingale or any variant. THIS GAME IS BUILD TO MAKE YOU LOSE!
-How to cheat the game?
Basically what you have to do is to play more random than the random function that they use, don't follow any scheme, all the schemes will always be a variant of the Martingale method, which with microbets will fail 100% of the times.
In this tab you will be able to bet on
Personally i don't recommend betting on sport events on this website because the win amounts are very low compared to sporty bets websites.
The outcome odds are never higher than 2, most of times for "safe bets" the outcome odd is 1.1, not worth at all
This is a pretty new tab that they introduced in march this year.
Here it is basically allowed to only trade on the FunFair Token.
The more FunFair token you own, the more bonuses you will receive.
The longer you own it, the higher the bonuses will be.
-WIN A LAMBO
This is the tab where the website gets most of its money.
Buying a ticket on this page will make you eligible for winning a Lamborghini or 200000$ in BTC.
They pick a winner once every 6 months and each ticket costs 25k satoshi.
Till now they sold 235k tickets, which means 58.75 BTC.
If you consider that 200000$ = 5.7 BTC, they gained 10 times the cost of the car.
This is not a scam, there are persons who claim to have won the contest, but the law of big numbers is against you this time. So i just suggest you to ignore this tab.
Last but not least of the tabs (hidden in the "MORE" tab) is the rewards tab.
Do not make the mistake of undervaluing this tab.
The main thing that you want to do on this page is to redeem the highest reward points bonus that you can get for each free roll (on the Free BTC tab) because reward points are actual satoshis.
If you consider this website running 24/7 (which i assure you it can be done) with always the highest reward points bonus active, you are able to gain 1200 satoshi daily, which will be added to the basic amount that you earn from the freeroll.
Let's say you earn 30 satoshi for each freeroll and 100 reward points per freeroll, in the long term you will be gaining 57k satoshi monthly (20$) which is something that i bet you are not willing to lose.
Once you reach 100000 reward points (which a lot of people have done in the past so don't think that it is impossible) you can convert them for 100000 satoshis.
-LOTTERY & CONTEST
This is a fraudulent side of this website, it has been proven in the past that the winning users are always the same. So for not losing possible gains i suggest that you go to your profile (tab hidden in "MORE") and disable the lottery because instead of tickets you are gonna get reward points, which are actual satoshis.
After more than 5 years of using this website i rolled more than 20000 Free rolls and no, i didn't receive the 200$ prize. Yes it is probably fair.
I made more than 800000 rolls at the multiply game and i won a lot many times and i lost all a few times, but yes, i am still in gain and not in loss.
I don't wanna share my aged stats because someone may use the picture of my stats to convince other people to trust him.