Bitcoin Forum

Hi guys , how would you feel purchasing a 50$ lottery ticket with crypto to buy a 2500 $ car , 2% chance of winning it ? Would you participate ?

It's a good offer, but I've never won in a lottery.
maybe i was not lucky in the lottery. LOL
and also $ 50 big money in my opinion.

$50 is too big for the price of a lottery with a gift for $2500, Especially with the chance of 2%. Maybe with a lower price like $5- $10, it seems still reasonable. Idk it all depends on luck hahaha

Who would not want to win? Where will be this lottery be held? Is there some kind of assurance taht you won't run away and take our money? If you are going to do this then it should be in the gambling section I think.

I prefer 2-5 bucks in any ways :D. But if the chances of winning is increased then I would agree on 5.

Pretty good idea but some observations about lotteries on blockchain

1) Lower the entry price ($1-5)
2) Raise the prize (10k+)
3) This is already being implented (not with prizes but lottery on a blockchain @ https://firelotto.io/)

It's a gamble, but everyone wants to make money.
So I think there are still a lot of people involved, are you going to be transparent through the blockchain?

If given a chance, why not?! In the new develop high technology system in the world, and with the existence of cryptocurrency business, all things that involves opportunity of life winning are all possible with the used of cryptocurrency business. Because when a person joins crypto business, it is something that a certain persons are already winning.

I am thinking of funding this project . 70% bonus deal , may sound good but the actual functionality I would like to discuss it with you guys

I think the price of $50 for the lottery is very large. If it was 20$ I would still have thought of participating or not. And in general, I'm a loser in life, since I never won in lotteries.

No for me,even if the lottery ticket price is exactly 2% from the total prize and the chance of winning it is 2% too,doesn't mean it fair.We have to consider people interest rather than exact calculation by number.We know greed,but people doesn't want to bet in the unreasonable gamble.Maybe if there are some consolation prize,more people will join.

I will never risk as well. The lottery is not the stuff I trust a lot. I do not rely on my luck - I always trusted my knowledge and my experience. For me, it is much better to work hard and earn this money.

should not buy a lottery with $ 50 I think it is very expensive
it is a raffle that you are not sure will win a prize, it is better to buy coins that will benefit you

Winning on a lottery is really random and you don't have a guarantee that chance will make you take home that car. Sometimes it isn't bad to bet on this type of lottery ticket, if $50 is just a piece of cake to me then I would participate but if that is the last money I've got then I won't. But how that 2% chance of winning was calculated? AFAIK I know chances are even lower with that percentage. What if you learn through trading and make that $50 as a challenge to reach $2500 to buy that car?

I am open to try my luck at lottery, but paying a $50 bet to win $2500 seems unattractive.

As you can understand, the mathematical expectation is 0 (from 50 to 2500 ~ 2%), that is, in the long run we will not lose. But if we have the opportunity to buy just a few times, then it's better not to do anything, there's too little chance. Well, psychologically, many find it difficult to give $ 50 for such a small chance.

If you wish to play just believe you ave lost the money, yoi can win but the odds are aginst you, the way this was program is to attract alot of people into the space so that the amount genrated would be able to cover the pay out and their own profit. People are luck but Gambling and Lottery is not

Maybe with smart contracts in the future. I think blockchain might revolutionize gambling altogether and change the way it works completely.