Bitcoin Forum

Ideas by GreenFigure

--- There is a game wallet which collects bids.

Everyone who wants to participate in the game, enters the game with the lowest bid required, lets say its 10 000 satoshi per participant, everyone who enters that jackpot will have a chance to win more than (or less) he entered with.

Lets say 100 people enter it, 10 000 per person minimum, 1 000 000 sats in the jackpot (or even more, depends on the entrance bid). A dice is rolled, if the number on the dice is higher than 1, lets say 5, every fifth participant will get a part of the jackpot, so its a 100/5 = 20 winners, 1 000 000 sats / 20 winners = 50 000 per person. If the dice rolls 1, the dice is re-rolled, if its 1 again, a random winner is selected who wins the jackpot. Otherwise everything is followed by a normal order and divided between winners.

--- More than one entry is accepted per person, which is - if your bid is 50 000 satoshi, you get 5 entries. Each entry can win OR lose.
Which means  with the current example you could: win 50 000 satoshi * 5 entries = 250 000 satoshi; lose 50 000 satoshi.
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--- There is a game wallet which collects bids.

The game has only two rules, the first participant needs to outbid the starting price. Lets say the game starts with a 0 satoshi bid.
The second rule, to enter, you need to outbid the previous person (which is kinda the same as the first rule). The following person needs to bid more than the previous bid, which means more than 0, lets say he places a 10 000 satoshi bid. As the game goes the entry bid gets bigger and bigger. In the end, the jackpot is "won" by the one who bid the most (just like an auction). But Not the whole jackpot is won, the winner win is calculated by this formula

Prize = (Jackpot - Winners_bid)/2 + Winners_bid
The prize is around half of the pot, the other half goes to the participants, it does not matter how much you bid, but the prize is split among everyone equally.
100 participants, 1 Winner => 99 participants split the 50% of the pot.

The earlier you bet, the more likely you are going to profit, the later you bet, the riskier it gets.
To make it equally fair, there might be a rule added - max 5 outbids. Which would make players think if its worth it. :)
Every bid adds 1-3 mins for the game, to deny last second winners.

P.S. Someone asked if people would bot the game. In my opinion its useless to make one, you either cant outbid later on and lose everything with a bot or you just waste your time writing a bot for a 180 minute (example) game.
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If you like these ideas, I might come up with a few more or maybe even start one on the forum. :)

IMPORTANT - I didn't figure out about the house profit yet. As the one who manages the game does all the job like sending out prizes and stuff, there should be a certain fee from jackpot, but haven't decided yet what is the size of it.