First off my current lotto will not be changed. The 2 participants have already agreed to the terms and they will not be changed unless they contact me and agree on a rules change.
There seem to be no alt coin lotto's and I personally would join one if ran by a trusted member. I will not enter any of my contests but am using that as my theory that other people would like one as well.
If enough interest is present I am going to be starting a weekly Litecoin Lottery. I am looking into way to make it as fair and trustworthy as possible. Using a truly random drawing.
It seems with no starting value for the lotto it is hard to gain interest. I am thinking with my next lotto I will be adding part of the total winning towards the next weeks prize as an incentive to join.
I actually have multiple questions but would not like to spam with multiple pool threads.1. Do you believe this would be fair to the winner if they were aware of the payout system at the time of purchase.
2. What percentage do you think would be acceptable to rollover into the next lotto?
3. What would you like the ticket price to be? I currently have my running lotto at .5LTC to enter with a maximum of 3 entries per participant. Does this seem to high or low? The advantages of it being low are minimal risk which will bring in more ticket sales. The downside is a rather small prize for the winner.
4. What fee would you see as acceptable for someone to run this service. It would have to be percentage based because there is no way of telling what the final prize would be. I was thinking 10% maybe less if people think that is too high.
5. Where do you believe the organizers percentage should come from? The rollover amount or the current winnings? Obviously the % would be differant I would be willing to take say 50% of the rollover if it were 20% or something like that.
Any feedback is welcome. Try to answer as many question as possible. I am really trying to get a feel for what people want from a alt coin lotto
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