Bitcoin Forum

Please note, this is just an initial idea and I have not thought about this in much detail but would like your opinions please.

I was thinking of perhaps starting up a Bitcoin raffle whereby you buy an entry/entries into the raffle at a specified price (for arguments sake, let's say 100k per entry) each week. At the end of the week I would then put all entries into a random draw and then winner of that draw would then win most of the BTC.

I would keep a small percentage for hosting and organising the raffle (perhaps 5%-10%) and the rest would be won by whoever won the draw. So for example, if 50 entries were bought (50x100k=5 million satoshis) I would keep ~250k-500k (5%-10%) and the winner would receive the remaining 4.5-4.75 million satoshis.

There could of course be different variants of this, so you could have one jackpot winner and other smaller winners or five winners that receive equal amounts etc. but as I said this is just an initial idea.

What are your thoughts on this, do you think it is feasible and more importantly perhaps, would you take part?

Thanks.

I would take part in it but here is what's really gonna happen:


People buy entry -> time for raffle -> you disappear with 100%

I would not do that, but I see the point your making, would there be a way of making it so I am not in control of the funds but could still administer the raffle?

Take a look over at the Games and Rounds section. Raffles are never successful and get next to zero interest especially when operated by lower ranked members (though even higher ones don't get any interest either). You need to make sure the raffle is completely fair and not manipulatable by you which is hard to do. Also people won't trust you with the funds so you'd need to use escrow but I'd just forget about it if I was you as you'll likely be wasting your time.

Take a look at my new Bitcoin Raffle site here.

You also could win $10.00 USD credits by collecting free points.

https://www.cointoast.com