freebit: How to win

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   WAGER ONLY WHAT YOU CAN AFFORD TO LOSE. There is always chance to lose it all.

Help with addiction?

With a game of chance, where you have a predefined winning chances, you can try to minimize losing anything. The idea is simple: with x% winning chance, how many times can you afford to lose in a row. Here are few examples I generally use in my strategies. Suppose each bet has a winning chance of 10%, I usually go for a maximum losing streak of 100 before I win. You can also translate it to a statement like "I believe I cannot lose more than 100 bets in a row if each bet has a winning chance of 10%". I make this statement based on my past experience.

Now how do you convert such statements into winnings. You make sure that whenever you win (in first bet OR after losing 40 bets), your overall win prize takes care of what you lost cumulatively in previous attempts; and then you restart over with the base bet. You can achieve this by increasing the bet amount after each loss. A simple way to do it is to increase the bet with a multiplier (say 10% more). You can use this simple calculator to check your strategies. https://www.entropiapartners.com/Calculator/

Now what is the catch? the catch is that betting amount increases exponentially with each loss until you win. Are you willing to put thousands of dollar into unknown? You should not. Do only what you are willing ton accept as a loss playing. Look for smaller profits with low risks.

There are many other strategies people use. I use above simple approach. You can check some of my betting runs on my twitch channel:
https://www.twitch.tv/videos/514120447 (12 hours run, 20% winning chance, 35% multiplier. 50% profit)

Here is an old strategy I was using at freebit

How to win at freebit and grab more raffle tickets at EP

This has been discussed earlier and many inputs have been received from many, including top raffle winners. Maybe it should have a dedicated thread now. I ran some experiments based on inputs from Vincent. I ran 100,000 rolls at multiply game. 10 sessions of 10,000 rolls each. I ended up with 98,000 satoshi profit in end. This is what I did:
I used multiply bonus whenever it was available.
Base bet was 1 satoshi with minimum betting odd, that is 1.01. This means if you win you will get NOTHING as they dont pay in fractions. If you lose you lose 1 satoshi.
Auto-bet conditions were like this:
On lose: Increase bet by 9900% (means 100 time). Also change odds to 1.02.
On win: Return to base bet. Also change odds to 1.01.
With less than 6% chance of losing, I was winning most of the bets but making nothing. But when I lost, the bet was increased from 1 to 100, and if I won that one, I made 2 satoshi. That is 1 satoshi profit as I lost 1 in last bet. If I lost twice in a row, I made a profit of 99 satoshi. If I lost thrice in a row, I made a profit of 9899 satoshi.

I lost 3 times in a row only once with 100,000 rolls. Losing twice in a row has a probability of less than 0.36%. Losing thrice in a row has a probability of less than 0.02%. Point is you plan to play this strategy and lose more than 3 times in a row, you have the worst luck and should not play. 

You will need at least 10101 satoshi to do this with 1 satoshi as base bet.

If you wish to make a profit with every winning roll, the base bet should be 100 (1 satoshi profit if you win). You will need 1010100 satoshi in your account.

Your opinion?