Yes, since freebitco is using a different system for determining the odds, you can take the advantage of different odds. But you should keep in mind that odds shown on freebitco can change even after you make the bet. So, you cannot decide base on the odds you see at the time of betting.
I wonder if they would plan on moving from pari mutuel to fixed one day.
One of the casinos I used to play on made it several months back.