CryptoPowerBall : A new online lottery seeking advise from experienced members.

[cryptopowerball]

Hi

TL'DR : Seeking advice: A new lottery with results from existing lottery sites like 'Euro Millions'

We posted a while back our idea here: https://bitcointalk.org/index.php?topic=1984740

Based on the comments we went ahead and created CryptoPowerBall

We wan[/glow][/size][/size][/b][/color] the system to be fair. Please either comment here or send any suggestions to: contact@cryptopowerball.com

We are not asking for BTC or money. We only need advise and knowledge of experienced

[UPDATES 1]
1. Tickets can be bought only with BTC
2. Lottery result -> based on EuroMillions https://www.euro-millions.com [because it is simple and fair for all]
3. We want to do twice a week draws just like EuroMillions, more precisely every Tuesday and Friday.
4. Minimum ticket price will be 0.001 BTC 0.00001 BTC [ to keep the risks low for people]
[UPDATES 2]
5. If no one wins, we will simply rollover the funds to the next draw.
6. Prize distribution is here:
https://i.imgur.com/AHPgafa.jpg


Open points:

- Shall we use an escrow initially?
- Shall we do a user registration using email or just using public BTC address?



PS: everyone who is sending PM like 'we want to invest', please understand we are not in a hurry to start anything unless we know what we are getting into. Please don't send us your offers unless you really understand what we are trying to do.

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More updates as we keep going along.
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Best regards
CryptoPowerBall team

https://i.imgur.com/Pln1fLG.png

[1715126807]

1715126807

[DarkStar_]

5. Best ways to maintain and gain trust

You'll probably want to be very transparent. For example, if you offer a 10 BTC jackpot, you should sign a message from an address proving you have 10 BTC. You will gain trust slowly as more people play and win big prizes. There is no magic way to become trusted, although at the start, you could use a trusted escrow from here to hold the funds until winners are paid.

7. Keeping it fair to people.

Make sure everything is clear before people buy a ticket, let them know the odds, e.t.c. Since you are basing it off the results of another lotto, you wouldn't need to come up with a good fairness method. You would need a good way to record what numbers people pick though, otherwise people might think that you switched their numbers if it won.

[JackpotRacer]

sorry but why a new self moderated thread with almost same questions?

anyway it looks like you are on the wrong pathway

good luck

[cryptopowerball]

sorry but why a new self moderated thread with almost same questions?

anyway it looks like you are on the wrong pathway

good luck

Hi

Let us know your concerns. What are we doing wrong?

contact@cryptopowerball.com

Best regards
Edi

[JackpotRacer]

sorry but why a new self moderated thread with almost same questions?

anyway it looks like you are on the wrong pathway

good luck

Hi

Let us know your concerns. What are we doing wrong?

contact@cryptopowerball.com

Best regards
Edi

fair enough

maybe if you could explain a bit more about

2. Results of the lottery will be based on EuroMillions https://www.euro-millions.com
3. We want to do twice a week draws just like EuroMillions.
4. Minimum ticket price will be 0.001 BTC


please explain based on ......... cause here could be the problem
twice a week is fine and sounds ok
what is the price for a 0.001 ticket?

we had a similar idea and it is still in the drawer where all is in that we dont touch cause we cant deliver. therefore I am a bit sceptical if you can deliver

good luck

[just_Alice]

~
4. Minimum ticket price will be 0.001 BTC

~

I suggest you to lower the price significantly, like hundred times, and thus you'll attract much more users. Not hundred times more, but thousands times more. People usually are unwilling to part with money which might have any significance, like $2+ in your case. But they will easily sacrifice $0.02 to have the opportunity to win big.

[cryptopowerball]

~
4. Minimum ticket price will be 0.001 BTC

~

I suggest you to lower the price significantly, like hundred times, and thus you'll attract much more users. Not hundred times more, but thousands times more. People usually are unwilling to part with money which might have any significance, like $2+ in your case. But they will easily sacrifice $0.02 to have the opportunity to win big.

What would be a winning amount in that situation?

Best regards
Edi

[just_Alice]

~
4. Minimum ticket price will be 0.001 BTC

~

I suggest you to lower the price significantly, like hundred times, and thus you'll attract much more users. Not hundred times more, but thousands times more. People usually are unwilling to part with money which might have any significance, like $2+ in your case. But they will easily sacrifice $0.02 to have the opportunity to win big.

What would be a winning amount in that situation?

Best regards
Edi

If you decrease the price of the lottery ticket hundred times and the number of buyers remains the same as before then the winning amount will be 100 times smaller.

But that's the point that lowering the price of one ticket 100 times you increase the number of buyers significantly, maybe more than 100 times, and the winning amount will be even greater than before.

[Joel_Jantsen]

Honestly,people are really not into bitcoin lotteries man.I'll tell you why ;-

->They have really really less chances of winning.I mean the chance decreases significantly as more people start buying the lottery tickets which is your primary objective.
->They can simply gamble away the same amounts,they still stand some chance to win something.
->Also,how are you planning to make money ? It's a risky business.

[cryptopowerball]

Honestly,people are really not into bitcoin lotteries man.I'll tell you why ;-

->They have really really less chances of winning.I mean the chance decreases significantly as more people start buying the lottery tickets which is your primary objective.
->They can simply gamble away the same amounts, they still stand some chance to win something.
->Also,how are you planning to make money ? It's a risky business.

Yes. I agree. But this is only for lottery. We have decided to go ahead with that. The odds might be low.
But I think 0.00001 BTC is low enough to take a chance.

[just_Alice]

Honestly,people are really not into bitcoin lotteries man.I'll tell you why ;-

->They have really really less chances of winning.I mean the chance decreases significantly as more people start buying the lottery tickets which is your primary objective.
->They can simply gamble away the same amounts, they still stand some chance to win something.
->Also,how are you planning to make money ? It's a risky business.

Yes. I agree. But this is only for lottery. We have decided to go ahead with that. The odds might be low.
But I think 0.00001 BTC is low enough to take a chance.

Oh, WOW! Thanks for taking my advice into account! 

- Shall we do a user registration using email or just using public BTC address?

IMO just using public BTC address for a user registration is enough.

Also if you really want to attract many users to your lottery you might consider starting a signature campaign here on Bitcointalk.

[realediston]

Hi

One more suggestion is that if no one wins, return the BTC back to the lottery buyers [after deducting the fee]
But if the value is 0.00001 BTC, no one will bother anyways.

Best
Edi

[AmoreJaz]

IMHO
if a lottery is played and in any certain amount of time there can only be X amount of players even if unlimited.... if the draw is made from a pool of the participants ? how can it not make a winner ?
i see this as a scam flaw

[cryptopowerball]

IMHO
if a lottery is played and in any certain amount of time there can only be X amount of players even if unlimited.... if the draw is made from a pool of the participants ? how can it not make a winner ?
i see this as a scam flaw

Please go through the post. Lottery will be similar to EuroMillions. It is not selected from the pool. Numbers will be taken directly from the EuroMillions results.