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Topic
Board Project Development
Re: [ANN] Flip4Coins.com - bet heads or tails in 24+ crypto-currencies
by
campycoin
on 15/03/2014, 00:53:25 UTC
I'm missing something here.

The site is to shady for me, I think I need explanations on:


All I gotta say is, I certainly won't vouch for em yet but they  have now paid me twice.  First one took 2 days but I saw the payment they just didn't add a fee and it so it never got picked up on the blockchain.

But sir, just look at the site rules.... your next two comments are comical.

Quote

- You are saying that "Each time you win, we double your bet" and also "We have a low house edge of just 0.8%". How can this be possible? if you're doubling our bet everytime we win, in a fair random system your house edge is 0%. But yet you are giving 1% of the losing bets (50%) to the jackpot and also 0.1% to the referred players. This make you house edge -0.6%. I'm really sure you isn't a wealthy person donating your money to the poor players of your site, so, unless you can prove that your site is generating fair random numbers, you are just scamming people on your site.


They are giving 1% of losing bets to the jackpot.  I'm sure they apply the 0.8% house edge before the bet... right?  So in the 51/100 bets- which are losers they take 1% for the Jackpot.  And they pay 0.1% to referrals.  Your math is just wrong in regards to a house edge. If I said I had a 1% house edge and gave 95% of losing bets to my Mom... My house edge is 1%.

Quote
- You said here: "As for jackpots: the chance to win a jackpot is 0.01%". Wow, so this is a nice form to win easy money from your site. Well, the bitcoin jackpot is at 43 BTC, but the minimum bet size is 0.00001. Statistically if I bet a total of 10000 bets of 0.00001 (total of 0.1 BTC) I have 100% of chance of winning 43 BTC, niiiiiiice. You should be asking why I didn't try to win this jackpot before posting this here. because we have a saying in my country that says: "when the alms is big, the saint distrusts" or using a known english sentence: "it's too good to be true".


This is simply you not reading the rules.  The max jackpot is 400x your bet.  So if you bet 0.00001 10,000 times it will have cost you 0.1, and if you hit the jackpot in there once it would have paid you 0.004....   So I don't advise you to do that.  The Jackpot is at 43 btc so yesterday I played a few flips at .1 which would have paid me 40btc.  Like I said.... I'm no willing to say they aren't a scam... in a month when they have 100 btc on their site, they could just close down...  but day to day with little bits, so far I'm up.