[ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery.

[glennmatthew]

Besides that such an event will get high public attention to the lottery and will raise the ticket sales .

I disagree.
Winning a "jackpot" that is significantly lower than the advertised "estimated win" and then only being able to access 50% of this (already very reduced) winnings will most likely not boost ticket sales.
What it might do is show how ridiculous the current setup is and create a huge bunch of drama because the conditions are not clear (or mentioned at all) on the site.

Would you not be happy with 3000 ETH suddenly appearing in your account? Sure it is not 70,000 ETH, but it is still a shitload of money, and providing that the lottery doesn't die over the coming years you would get all of your money eventually.

A monthly income from the smart contract might also be a better solution for some people How many people have gone bust months after winning a jackpot?

[maximuss]

Can you provide me info for this exact case:
I bet 1 ETH and win the jackpot (all 6 numbers in exact order).

Questions:
- How much will I win?
- When will I receive 100% of winnings
- From where will those winnings come from?

[naaktslak5]

Since the FAQ doesn't load over here, I'll have to ask some questions directly, maybe someone is smart enough to answer them (or you can take a look at that ...paper).

Taking a peek at the site, you currently accept bets from 0.001 to 1 ETH, when I enter my bet size, I get an "estimated" win, where the estimate for #6 is glowing & jumping right in my face.
It says 7,000 ETH at the lowest allowed bet size and a whopping 7,000,000 ETH at the 1 ETH max bet. However, your current pot is just 6,227 ETH, meaning you can't even cover a jackpot hit at the minimum bet.

Am I right that the payout for a single bet is always capped at your current pot size?
If this assumption is correct, why do you show "estimated wins" that are way higher than what you actually can pay?

I think this is highly misleading, and further I think this is intentionally misleading. You should adjust the estimates to show actually valid amounts, not fictional possibilities.
And you should do this quickly, because with every bet placed, you are promising something you cannot keep.
On top of that, since you cannot cover any full jackpot hit, not even on the minimum size, betting in any way right now has a higher than intended house edge.

i think its a matter of time untill the jackpot is filled with such amounts, now we are still early.

[naaktslak5]

why are there only 7.8 million coins? i read in the wp there will be 260million. did they burn the coins?

[naaktslak5]

i like the project but i think soon other decentralized lotteries will arrive with better odds, than no one will use this one. or can they adjust the odds?

[glennmatthew]

why are there only 7.8 million coins? i read in the wp there will be 260million. did they burn the coins?

260 million was the maximum that could possible be made. There would be this many coins if the hardcap of the ICO was reached.

We reached much less that is why there is only 7.8 million coins. The remainder were not burned, they were never created

[glennmatthew]

i like the project but i think soon other decentralized lotteries will arrive with better odds, than no one will use this one. or can they adjust the odds?

How can a lottery make its money if with higher odds of winning? If it isn't going to make money, then there aint gonna be any money in the pot for winners. Do the math bro, for there to be a winner there must be losers.

Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.

[lordzc]

The best lottery platform. I always like to try my luck. I'm going to the lottery for the worst.

[Lutpin]

Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.

Wasn't the house edge over 10%, even ignoring the increase due to insufficient funds in the bankroll?

How can a lottery make its money if with higher odds of winning?

Simply put: More gambling volume.
Eg the expected profit with 1000 ETH wagered on a 1% house edge is the same as with 100ETH wagered on a 10% house edge.
The lower edge attracts more gamblers, resulting in similar profit expectations.

[naaktslak5]

i like the project but i think soon other decentralized lotteries will arrive with better odds, than no one will use this one. or can they adjust the odds?

How can a lottery make its money if with higher odds of winning? If it isn't going to make money, then there aint gonna be any money in the pot for winners. Do the math bro, for there to be a winner there must be losers.

Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.

off course there has to be more losers then winners, but i think the odds can go up and still make a lottery. the odds for winning the jackpot at smartbillions is 1 in 16 million , thats not very high. but i dont know how many people will play this lottery.

[naaktslak5]

Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.

Wasn't the house edge over 10%, even ignoring the increase due to insufficient funds in the bankroll?

How can a lottery make its money if with higher odds of winning?

Simply put: More gambling volume.
Eg the expected profit with 1000 ETH wagered on a 1% house edge is the same as with 100ETH wagered on a 10% house edge.
The lower edge attracts more gamblers, resulting in similar profit expectations.

house edge about 21% if im correct.

[Rumipl]

House edge is set at 13.85 % which is very low when compared to other online and offline competitors.

[cryptogodzilla]

Do you want to run the games or play the games is the question I have. I think I'd rather run them but good luck to those playing them. The odds are in your favor here on the blockchain over real world lotteries which can be totally manipulated.

[Lutpin]

House edge is set at 13.85 % which is very low when compared to other online and offline competitors.

yabtcl (a direct competitor since also offering crypto based lotteries) has a house edge of 1%, where is 13% low compared to that?
And no, I dont want to compare it to state run lotteries, but rather look at blockchain/crypto based alternatives.


You didn't address my concerns of you intentionally misleading players with "expected win" amounts.

[vitocorp]

Only 2 days left for the first dividend payment in Smartbillions ether.
For now 0.00056399 ETH for every 1000 planned tokens. We will see the final result.

[naaktslak5]

House edge is set at 13.85 % which is very low when compared to other online and offline competitors.

yabtcl (a direct competitor since also offering crypto based lotteries) has a house edge of 1%, where is 13% low compared to that?
And no, I dont want to compare it to state run lotteries, but rather look at blockchain/crypto based alternatives.


You didn't address my concerns of you intentionally misleading players with "expected win" amounts.

amazing 1%. to bad the website is crap. if that 1% is real than more decentralized lotteries wil come online just like Smartbillions but with lower edge.

[stil55]

Hello, I want to participate in your lottery, tell me where and how I can buy lottery tickets, how much is 1 lottery ticket. Can I buy a lottery ticket for Smartbillions tokens?

[mistique]

Hello, I want to participate in your lottery, tell me where and how I can buy lottery tickets, how much is 1 lottery ticket. Can I buy a lottery ticket for Smartbillions tokens?

If you like to play you should visit smartbillions.com. You play with ether. On page you can use "Wallet" tab and transfer eth to wallet or use metamask. Everything is described on "How to play" tab on bottom on page. Minimum bet is 0,001ETH.

If you like to buy tokens you shoud visit https://etherdelta.com/#SMART-ETH

[Capos]

Only 2 days left for the first dividend payment in Smartbillions ether.
For now 0.00056399 ETH for every 1000 planned tokens. We will see the final result.

Sorry if i didnt understand your statement right but do you mean that its two days untill the first dividend occur or do you have two days remaining to claim the dividends? Cheers

[Lipe490]

Do you want to run the games or play the games is the question I have. I think I'd rather run them but good luck to those playing them. The odds are in your favor here on the blockchain over real world lotteries which can be totally manipulated.

I agree with you because blockchain is not the guarantee that a system will not be manipulated. Lottery online is very easy to scam and be frauded, but I can give it a shot if the codes and scrypts are fully public. The whole thing is that I don't believe in online lottery and I will never put a single penny on it.