Hello Bitcoin community, I am not new to bitcoins, but I am to these forums. I would like some feedback on a project that a friend and I are making. We thought, Hey wouldn't it be cool if there was a type of Lottery using bitcoins? Well, we created a website
http://bitpool.webs.com. We have some information on there about how it will work, but we are looking for suggestions as how to make it more clear. Our plan is to have several "Pools" open where you send .05 Bitcoins to a wallet, that we have set up. We have dates set from when the pools are open to closed, and when the pool closes, we will use a number generator to determine who the winner is. Ill try to explain it more clearly, 1st, there is no sign up. You go to a pool, where we have the details, our test pool is open now, and will run until the 4th of July. Right now we have it set to .05 Bitcoins per entry. When the date ends, we will post the wallet numbers in order of entry in a spreadsheet, numbered 1-x. If we have 100 entries, we will number them 1-100. We will then run a random number generator
http://www.random.org/ to determine the winner. We will post the spreadsheet with the winner highlighted, and then send 95% of the pool to the winner via their wallet that we receive payment from. I would like your feedback on a few things such as. How can we make this more official or legitimate. This is not going to be a scam, and we would like to have this official, so we are trying to show participants that this is a fair lottery. My friend and I will not enter the running, and will be happy to make our 5% profit from the pool (which from our calculations is very little and what we believe to be fair.) We are also wondering if our different pools should have different rates, such as pools where instead of using .05 Bitcoins, you use .1 etc. We are also wondering if having more than one winner would be a good idea, for example, drawing 2 or 3 numbers, and splitting the pot accordingly. I would appreciate it if you guys would check out the site, and leave any ideas or feedback that you think would improve the site. For anyone who is interested, the site is operational, so if you would like to try it out, we have a more complete explanation of how it works on the site.
Thanks for your help.
P.S: we have done some research, and yes, this is legal. As bitcoins are virtual currency, and are tax free. They are not considered real currency by the government.
