What is a coinflip?
Whether you are trying to settle who will start with the ball in a game of football, who gets to ride shotgun or, who wins $1000 in skins, the Coinflip is a ubiquitous simple game.
The rules are simple, flip a coin that has a 50% chance of being either heads or tails. Before the flip, you choose between heads or tails, if the outcome is what you chose you win, if it is not, you lose. This simplicity makes Coin Flip one of the best games for those entering the world of CSGO gambling.
This simplicity differentiates Coin Flip from other games in incredibly significant ways. Unlike games like roulette, Coin Flip can is primarily done against other players and not just the website. This makes it similar to case opening however, the returns are fixed. When you open a case, you expect to have some probability of cheap skins and an exceptionally low probability of some expensive skins. In contrast, in a Coin Flip, you either win twice your bet or nothing at all. For those looking to win some credits on CSGO gambling sites without massive risk, CoinFlip is one of the best games out there.
It offers good odds for the returns and if done correctly can allow players to make a significant profit. This game, however, is not for anyone, it is not the most thrilling game, you can’t win a knife by spending a few cents, but for those looking to increase their balance on a CSGO betting site, it offers a great option.
In detail: What makes it different?
If you feel like playing some serious CoinFlip the rest of the article is for you.
We all know the phrase “the house always wins” when talking about playing at a casino, but that is not the case with Coin Flip. Let us consider a roulette. On a roulette wheel, you have three colors, black, red, and green. If the wheel has 99 numbers, there are 49 black and 49 red and 1 green. What does this mean for your money? Well, it means you always have less than a 50% chance of winning on a simple bet on red or black. Since if you bet on black or red you get a return of 2 (i.e. u give 10 they give u 20) then if you bet X amount you have an expected return of less than X. In short, this means that even if you win, on average you will lose money but slowly.
A similar rationale can be used to analyze the CSGO case opening game. This game is even more extreme than roulette because the chance of losing money is significantly higher than 51%. However, in this game the objective is often not to slowly make a profit but unbox expensive, rare skins, thus profiting by absurd luck rather than strategy.
A Coin Flip is completely different.
The mathematics of Coin Flip
Yes, mathematics can be boring, but less so when we talk about making money and simple statistics. So, what is this all about? In a Coin Flip game, the player has a 50% chance to win, meaning the player also has a 50% chance to lose.
If you opened a Coin Flip site with infinite credits, and you spent infinite time playing, then you would end up with the money you had when you started. This is not exactly easy to see mainly because we cannot simulate infinite time. However, in a graph of Coin Flip gains, usually, the mean value will be the initial balance. To prove this point we ran a Monte Carlo Simulation of CoinFlips with an initial balance of 100 and a bet of 1.
On this graph, you can see that before the value falls under 0, the mean value is about 100. We left the negative to get a better idea of how a player’s balance would change over time. How does that help you? Well, this simply means that in a Coin Flip game, statistically speaking, you cannot win or lose. Although you can be lucky or unlucky respectively, according to statistics Coin Flip does not have a benefit to the player. Except when you introduce strategies.
How to win a CoinFlip
Since Coin Flip, in general, has been around for such a long time, mathematicians have figured out ways to mitigate the issues of no change in returns over time. The simplest betting strategy which can help you recoup some losses and possibly make a profit in a more efficient way than normal betting.
Developed in 18th Century France, it is called the Martingale strategy and it is quite simple. All you need to do is double your bet every round. Since the probability is always 50%, if you lose 10 in the next round and bet 20 the next and win, you will have a profit of 10. That is because 20*2 = 40 and 40-10 = 30.
This strategy makes sense since eventually a profit will be made. However, the grave error of this strategy is that it assumes infinite wealth. Since the growth of bets will be exponential, at some point the stakes will amount to more money than the balance available. But when used correctly, this strategy allows players to mitigate losses way better than using normal betting.
To be successful with Martingale, you do need a large bankroll or start with small stakes. We recommend betting no more than 1% of your bankroll at each initial starting bet as this way, you'll be able to sustain 6 losses in a row without crashing.
Why should you play Coin Flip?
Simply put, Coin Flip is an easy game with good odds that allow you, with luck, to increase your balance. Unlike when playing jackpot, the odds are always steady. As they often say, “slow and steady wins the race” and if you feel that is right then CoinFlip is for you. Although you cannot make massive instant gains, like unboxing a knife, you can still enjoy the game while making progress towards getting your next skin.