It would sure limit variance. 1/36 rolls you would lose half the free play being played through so 71/72 of your free play would be expected realized. Long term return is 98.61% with little variance.
one thing with respect to using free play in order to turn it into as much cash as possible that i don't understand is the question of bet size. in other words, does one want to make as many small bets as possible or would one want to make less and larger bets.
my thought is that since with free play we are probably looking to minimize variance, that we'd want to make a lot of smaller bets than fewer larger bets in order to run the free play through.
does it matter?
Assuming the EV is the same either way, minimizing variance (by making many small bets) will increase your CE. In most cases this is desirable, but you wouldn't want to take it to the extreme because of the increased time required to play through the freeplay. You want to balance the increased CE with the increased time required and find a happy medium. If it is a play where even the smaller bets can be completed quickly, I'll usually play the smaller bets. But I wouldn't, for example, play $0.05 VP if I could play $0.25 with the same pay table, because the variance of $0.25 VP is still relatively small, and the difference would not be significant to me, while the time difference required to run through, say, $200 at $0.25 per spin versus $1.25 per spin is significant. On the other hand, if my choices are $5 and $1 credits with the same pay table, I'll definitely play the $1. Between $1 and $0.25, I'd probably choose the $0.25 unless I was in a rush to get somewhere. But the bottom line is the lower the variance, the higher the CE. It's just whether or not that difference is worth your time.
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