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Thanks all for your feedback.
Here's a new idea.
We pick a number from 10000 to 99999.
There are 5 participants.
Player1: Buys a lottery ticket $10, picks 12000
Player2: Buys a lottery ticket $10, picks 23450
Player3: Buys a lottery ticket $10, picks 69990
Player4: Buys a lottery ticket $10, picks 52123
Player5: Buys a lottery ticket $10, picks 73234
We draw the number: 54321
Now, we will distribute the whole pot among all the players.
1. Rank the players based on how close their guess was to the actual number:
Player4: 1 (closest)
Player3: 2
Player5: 3
Player2: 4
Player1: 5 (furthest)
2. Calculate the inverse of each player's rank:
Player4: 1/1 = 1
Player3: 1/2 = 0.5
Player5: 1/3 = 0.33
Player2: 1/4 = 0.25
Player1: 1/5 = 0.2
3. Sum up all the inverse ranks: 1 + 0.5 + 0.33 + 0.25 + 0.2 = 2.28 (harmonic series)
4. Calculate each player's share of the pot:
Player4: (1 / 2.28) * $50 = $21.93
Player3: (0.5 / 2.28) * $50 = $10.96
Player5: (0.33 / 2.28) * $50 = $7.24
Player2: (0.25 / 2.28) * $50 = $5.48
Player1: (0.2 / 2.28) * $50 = $4.39
In this system, we always distribute the pot, and the closer you are, the more you get. You even have the chance to break even.
Payouts with 100 players
Let's calculate the shares until we reach a share that is $10 or more: (to check break even)
Player1: (1 / 5.18738) * $1000 = $192.78
Player2: (0.5 / 5.18738) * $1000 = $96.39
Player3: (0.33 / 5.18738) * $1000 = $63.62
Player4: (0.25 / 5.18738) * $1000 = $48.19
Player5: (0.2 / 5.18738) * $1000 = $38.56
Player6: (0.166 / 5.18738) * $1000 = $32.01
Player7: (0.142 / 5.18738) * $1000 = $27.37
Player8: (0.125 / 5.18738) * $1000 = $24.11
Player9: (0.111 / 5.18738) * $1000 = $21.39
Player10: (0.1 / 5.18738) * $1000 = $19.28
Player11: (0.09 / 5.18738) * $1000 = $17.35
Player12: (0.083 / 5.18738) * $1000 = $16.00
Player13: (0.076 / 5.18738) * $1000 = $14.65
Player14: (0.071 / 5.18738) * $1000 = $13.68
Player15: (0.066 / 5.18738) * $1000 = $12.73
Player16: (0.0625 / 5.18738) * $1000 = $12.05
Player17: (0.058 / 5.18738) * $1000 = $11.18
Player18: (0.055 / 5.18738) * $1000 = $10.60
Player19: (0.052 / 5.18738) * $1000 = $10.02
This could be based on the The harmonic series. The pot distribution could be calculated on this function.
The harmonic series for 100 is:
H(100) = 1 + 1/2 + 1/3 + ... + 1/100 ≈ 5.18738...
In the harmonic series distribution the key factor is the accuracy of the guess, not the quantity of guesses. The distribution of the prize pool is still based on the rank of each player's guess, not the number of tickets they purchased. So, even if a player buys many more tickets than others, they would still need to guess closer to the drawn number to receive a larger portion of the prize pool. This aspect of the game could be seen as a form of fairness, as it rewards accuracy over quantity.
The point is, everyone will be a winner. But the winning amount will be based on how close you are to the actual drawn number. You can earn more, break even, or earn less than your initial guess. Thoughts?
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I believe the biggest obstacle such idea has is the volume which would be necessary to fulfill the time requirements you are talking about.
Even in large and popular casinos lotteries are set up as weekly events or daily events, so on order for your idea to actually work, you would need to secure enough users from the beginning, so people won't have to wait too much for a smart contract settlement.
You would also need to do such thing using a Blockchain which is fast and with low fees, because if someone likes the service they will try to buy tickets several times or many times in the day.
Actually we could deploy multiple contracts, 10 minutes, 30 minutes window, 1 hour window etc... But maybe if there are too many, it would be not good, because it would split the market, and yeah in the beginning it's not popular so it's just a waste. Maybe a 1 day rounds window contract could be deployed first. I was thinking deploy this on the BSC network, because of the low fees. Although it's compatible with ERC20 too, just the fees are too high there. |
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Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.
From 36 down to?
I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users.  Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers. When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer? it should be equal. Random winnings get worse. Nonetheless, I would stay away still. You get lucky the first time and you'll need to be lucky once again on the random selection. Do they need to once again bet $10 to increase their chances in this random selection? Why not, see if the users double down? There's another idea. Seeing they have yet done anything means there is no plan in place. But I see this is going to be a decentralized casino? When you are talking about the random selection, do you mean the random selection on the prize distribution? Random selection 1 (winners) - We select the winners Random selection 2 (Prize distribution) - We select randomly how much each user get from the pot We could see if a user double's down, (I assume you mean if he won, he would have less chance in the next round?) But this would not work, because it's super easy to generate a new address, and this user will be a "new better" in the system, easy to abuse. |
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When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?
This is more like entry for the lottery is randomly selected which amount to lesser numbers of players from the original pool of those who signed up. Also for winners or those successful, the reward is yet going to be shared by random if I get the mechanics correctly? So for me regards to those selected for rewards, I believe there should be a lucky deep for them assuming they have to be physically present but if online, there should be another mechanics that could get them involved like another number selection on variables available like first, 2nd , third etc, I think that would create addiction excitement rather than a monotonous contract random selection. Yeah, let's say in this round there were 10 participants. We select a random number between 1 to 9 accounts who will be the winner. Then we can distribute equally, or randomly. (Not sure yet) There's no such concept as online, because once they deposited, the smart contract handles the payout. So even if they are not online on the website, they still get the winnings distributed to their account on the blockchain. |
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I see what you mean. Most people are not technical enough to see that the smart contract is not rigged. Maybe if it got audited by some reputable company, they would trust?
If it's a smart contract it should be audited I have participated in a project that did a rugpull and it has become a big lesson for me and for many of us here not to trust smart contract-based platform that is not fully audited. But anyway another concern that I have, let's say in the 10 minute round, there was 5 participant, but a user deposited 4 times from different addresses, so he will have higher chance to win the deposit of that 1 user? Or maybe actually he takes more risk because if that 1 user is in the winner list, he could be screwed. But since the distribution is not equal, it's fine. I am thinking about this logic.
If you're serious about creating a game like that you should do a lot of testing for possible loopholes, and you need to spend money for marketing and its quite costly. The concept of the rug pull does not apply here, because there is no liquidity pool, coin pair. It's a contract, that is deployed. The contract handles the deposits, the rounds, and the payouts. Everything by code. It's immutable, so it can not be changed. Actually if it would become successful, new copy's would appear so fast, because it's open source, so everyone can just launch their own in the matter of seconds. |
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Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.
From 36 down to?
I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users. Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers. When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer? |
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Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for fees.
Maybe a good concept but since this is a PVP scheme you need to establish your reputation and promote your project to gain more players, I don't think it will gain a lot of followers, gamblers are more convenient to play on regular casinos because they are guaranteed of payment since you mention that it will run in smart contract I don't think the majority are convenient to play a game connecting their wallet in a contract. You will have a hard time convincing people here to play without solid plan that the game will not be rigged, trust is one of the problem of newbies coming up with a game like this. I see what you mean. Most people are not technical enough to see that the smart contract is not rigged. Maybe if it got audited by some reputable company, they would trust? But anyway another concern that I have, let's say in the 10 minute round, there was 5 participant, but a user deposited 4 times from different addresses, so he will have higher chance to win the deposit of that 1 user? Or maybe actually he takes more risk because if that 1 user is in the winner list, he could be screwed. But since the distribution is not equal, it's fine. I am thinking about this logic. |
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I don't like to sound pessimistic, but I don't believe there will be enough incentive for gamblers to buy tickets for such a lottery. There are just too many unknown factors. It might be more interesting if it were some sort of player-versus-player (PvP) game, where competitors battle each other. Just my thought.
The whole app would be decentralized. It means the smart contract is deployed, the source code can be read and it will be verified (green tick mark in network explorers), so basically it will live forever. Basically to deposit, you just call the deposit function, and there will be a distribute function when the round is over. So let's say even I would create an UI for this app, but for some reason the project is abandoned, it would still live forever on the blockchain. Verified mechanics, everything is handled by smart contract, which is open source and can be verified to rule out malicious code. Actually a contract like this is super simple, so ordinary people could also check if nothing malicious is going on. |
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Any thoughts? Is there any similar projects out there?
There’s no known lottery project here that has a mechanics like this which distribute prize on random user. It’s more on a raffle than a lottery since user is not betting on a picked numbers but rather the smart contract is just selecting entries as winner. L0tt0.com is your nearest competitor for lotto based game. The only problem on this kind of game is every round can be useless whenever there’s no participants aside from one user who place bet compared to a regular lotto games which the casino provides prize pool for players to win with their bet. This game is more on just PVP. Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for gas fees. |
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Hello everyone,
I would like to hear your feedback on the following.
This will be like a raffle or lottery, but with a twist. It will be based on smart contracts. The contract works like a traditional lottery. You buy a ticket to participate, and if you're lucky, you win a share of the pot. The ticket price could be set, for example $10 worth of coins. The lottery runs in rounds, each lasting 10 minutes. At the end of each round, the pot is distributed among a random number of winners. The contract is designed to be fair and transparent. The random number generation is based on blockchain data, so it's impossible to predict or manipulate. There are also some safety measures in place. The contract owner can add funds to the pot, but they can't withdraw them. This is to prevent any potential scams or misuse of funds.
Let's say in 10 minutes, a 100 people buy tickets, $10, pot is $1000.
Then we select random winners, like 36 person.
Instead of distributing 1000/36, we will distribute randomly as well.
Any thoughts? Is there any similar projects out there?
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