I was once a newbie and played a bitcoin lotto game.

[Dabs]

Hi,

I was once a newbie and played a certain bitcoin lotto or raffle game. So here is a link to a new game I made.

Dabs Lotto Number 1. Ends May 20, 2013. 95% payout


Newbies can comment here if they can't post there yet.


Dabs

[LeftOfCenter]

Ah gambling. C'mon suckers folks step right up and lose your money have a chance to win!

[r3wt]

what a genius scam. sucker born every minute.

[trace666]

A 95% payout (assuming it is being honored) is quite low compared to e.g. Satoshi Dice's >98%.

[Dabs]

I decided on 95% because 99% while it sounds nice, was already used, and the previous operator just disappeared. There is another game I saw that is 80%. So 95% is just about right, I think. If you put in 1 BTC, and you win 95 BTC, I don't think the winner will complain.

And since it's provably fair, the losers can't really complain either. Anyone can see how the whole thing works.

If I pay out, it's not a scam. The rules are quite clear. You do have a chance of winning. You also have a chance of NOT winning (or losing), and the odds are based on the number of total tickets. So if there are only 2 players (or rather 2 tickets), then it's a 50/50 chance.

This is also different from the "dice" games because the odds are not 1 in 65536 or 32768 in 65536, but 1 (per ticket) in however many tickets were bought. And the payout, on winning is also larger. In the dice games for example, you could have a 50% chance of winning (and 50% chance of losing) but you will barely double your money. You also can play the 91% chance of winning, but win only a little more than what you put in.

Oh, also, I did post that in the Gambling forum. I'm just posting here for the newbies that can't comment there yet.

I might slowly raise that number over time, but not right now.

Thanks for the feedback.

[1bettor.com]

Im going to give it a shot!