lotterion - my take at an innovative bitcoin lottery

[lotterion]

I finally got around to finishing my pet project - http://lotterion.com Yes, yet another bitcoin lottery, but with some innovative rules

The tl;dr version: A drawing ends every 24 hours. While it is active, you can deposit your stake. When it ends, 50% of all stakes are distributed among those, whose stake was below the average stake. 49% of the deposited stakes are won by the player which supplied the highest stake. That allows positive returns for players which supply low stakes as well as as a potentially huge reward for the player which is going to take a higher risk by betting a higher stake...

For transparancy, the list of stakes and payouts is made public after the drawing ended, so you can build your own strategy based on the last rounds.

I would love to hear your thoughts

[ranlo]

This sounds interesting, but to clarify...

Let's say that we had three people join. One put in 5, one did 10, one did 15.

The person who put 15 would win the 50% of all (or 15, oddly enough)
The person who put in 5 would get 49% (or 14.xx)
The person who put in 10 would get 0, since they put in the "average" amount (5+10+15=30/3=10)

Is that correct?

[lotterion]

This sounds interesting, but to clarify...

Let's say that we had three people join. One put in 5, one did 10, one did 15.

The person who put 15 would win the 50% of all (or 15, oddly enough)
The person who put in 5 would get 49% (or 14.xx)
The person who put in 10 would get 0, since they put in the "average" amount (5+10+15=30/3=10)

Is that correct?

Yep, thats correct
The only thing, thats happening additionally is that stakes which are virtually zero are being filtered out. The current threshold for this is 1% of the average bet. If a stake is lower than that threshold, it is simply being refunded (if it was bigger than the transaction fee, at least).
If these stakes would be allowed, staking a few satoshis would be an almost guaranteed winning with no risk..

[greyhawk]

German, are we? Have fun in jail.

[lotterion]

German, are we? Have fun in jail.

What makes you think that?