September 7 Jackpot Size So Far: 28.96 BTC
Current approx odds: 1/117

Almost 30 BTC up for grabs already! Get your tickets now!

Who won round 4??

It would also be nice if the entries of last week would be visible after the draw.. As right now I have NO idea which ticket numbers I had ;(

As Bitlotto is on holiday I think I would post an quick update:

September 7 Jackpot Size So Far: 20.3 BTC
Current approx odds: 1/82

To have a chance of winning this simply send 0.25 BTC to: 1Gw6NJpoaBmaG77px8p6jE63SqpykrJcRx

Be sure to check out the main lottery website to verify the address: http://www.bitlotto.com/

Last month jackpot winner walked away with: 57.17 BTC (686 USD)

Just bought my first batch of tickets. People get in to sweeten the jackpot and it will grow exponentially!!!

One question actually, while I know I have to buy every ticket separately as a 0.25 transaction, is there a problem buying several in rapid succession? So that they might all end up in same block or something and then I only have one hash? Or am I just stupid here?

Really like that Noviz went with the share system. I just bought 30 shares for the main draw.

Just one thing, I think its false if you say that if you buy less than 10 shares you "share a ticket with someone" as EVERY share always shares all tickets with everybody in the syndicate. So no matter if you have 1 share or 30, you have the same chance of winning, its just that the guy with the 30 shares will win 30 times as much as you do!

Really like the syndicate as it does open up the main lottery draw to a wider audience. Thanks to the syndicate you can have a go at the main jackpot with as little as 0.026 BTC.

Can't believe the last guy won after buying a single ticket. And now the first syndicate won a Jr. drawing..

I shall spread my bet's. Sadly I only had one ticket last month in the main one as I planned to buy more later then work cut into this plan. The earlier we buy tickets I think the better as the higher jackpot will entice more people in.

Awesome.. count me in for 20+ shares!

I think you should still include the bitcoin address and ticket prize in your post to make it easier for people to take part after seeing your post.

I for once will buy more tickets. I love the transparency of it.

Congratulations on winning LeFBI!

I am a wee bit jealous here so I better get some more tickets in for the next drawing

No you where quite right in doing it proportionally. Every ticket sold increases the chance of the syndicate to win. If you buy 5 shares you should get 5 parts of the win, similarly to the lottery overall.

The charge is fair, you should however make it clear that this is the only cut you take, as its actually rather low. Considering that from the 0.01 you pay 0.0005 per ticket to actually purchase the lottery ticket.

I would NOT run a second syndicate as this would further complicate things. For example taking the big lottery you could simply divide it in shares. A ticket costs 0.25 BTC which is a barrier of entry for some newer players. You with the syndicate are in the perfect spot to enable low rollers to take part in it. Set a fixed ratio of for example 1/10. So each share costs 0.025 BTC + 0.01 in fee's (that might be much as price is so low but would encourage to buy more shares at once so less work for you). Then offer to sell any number of shares. If I would buy 20 shares for example I would actually be paying for two full tickets, its just written differently.

The risk you then have is that in the end you might end up having sold for example 101 shares, enough for 10 tickets but you are lacking 9 shares or 90% of the last ticket price. This is the worst case scenario. Either invalidate the share bought last (you have to be up front about it) or "swallow" the risk and force yourself to buy the last 9 shares for yourself which likely you wont mind as you want to part take anyway (which I think is not a problem at all).

Also you should set a deadline x hours before the draw to ensure you have time to actually purchase all tickets (as you do it manually) and for the tickets to make it into blocks in time.

Yeah I was joking.

Awesome I just won 0.01 BTC!

I do like the idea, however you should make clear if and how much of a cut you take for running the syndicate. Currently you say + 0.01 per order, is that all you take? (Would leave you with the difference of cost of purchasing ticket transaction fees of 0.005 x tickets sold, not a lot of "profit" for you).

In addition for "bigger" lotteries you should consider shares in single tickets. This would enable low rollers to take part in the big jackpots.

Wish you good luck with the syndicate. Actually I might purchase a few tickets trough it soon. Long term you might want to automate the ticket purchasing to reduce effort required by you. Also using a specific wallet / hash to purchase tickets from is a great idea by bitlotto.

I think that's a good idea. As you said it would suck if you pay the wrong person as there is no way to reverse it.

Would like to take the opportunity to say thank you for running this lottery, by far the best btc lottery out there.

Your site seems to be down atm..

Internal Server Error

Can you check it?

No sadly not all of the last ones.... I've got maybe 15 tickets this drawing. I think the last tickets where sold shortly after I bumped this thread...

July 20 BitLotto Jr. Jackpot Size Approx: 3.71 BTC or 51.98 USD
Current approx odds: 1/75 or 1/(total tickets)

75 tickets sold - not bad for the first drawing. Now anxiously waiting for the results

First drawing of the Jr lottery will be soon. Good luck to everybody who got tickets!

Nice hand Trayber!!!