An idea for a fair new gambling site.

[thirdprize]

in the past the gambling sites which have done lotteries haven't been all that successful either. I think a lot of people even though it's provably fair are skeptical about it.

This is more redistribution of the bets than a lottery.  5 people put money in and 99% of the money goes back to those 5 people in a different ratio.

[1715433131]

1715433131

[thirdprize]

So far I have been trying to get as many winners out of a game as possible.  Do you care?  Would you like bigger winnings if the odds were longer?  If there were 10 players and the pot was split 50%, 20%, 20%, 9% and house 1%.
20%,20%,20%,20%,19% and house 1%. 

What sort of ratios would appeal to you?

[marlboroza]

To be honest i don't think lotteries are very popular and you will hard get few participants(I could be wrong too).
Besides, some gambling sites have lotteries, you can easily find ev+ lottery and it is much easier to buy tickets at one of the gambling sites.
But if you want to run blockchain lottery, sure, why not? Go for it, I wish you good luck.

So far I have been trying to get as many winners out of a game as possible.  Do you care?  Would you like bigger winnings if the odds were longer?  If there were 10 players and the pot was split 50%, 20%, 20%, 9% and house 1%.
20%,20%,20%,20%,19% and house 1%. 

What sort of ratios would appeal to you?

If 10 players join, there should be 1(or 2) reward. It is lottery.
More players - higher pot - more rewards.

[RockoRulez]

should'nt be too hard to write a smart contract for this...
But need of use of a currency with lower fees, like ethereum

[BTCevo]

so house will be 1% MAX from now on.

That is a good move but what do you think about high transaction fees?

I think you may need to consider to design your game based on other altcoins which can confirm transaction faster with the very low fee then you may get players. No one wants to waist so much transaction fee to bet.

Yes, this might do since btc are on huge transaction fee but still people are used to btc rather than other altcoin. May be it is the best alternative to do since altcoin have better transaction speed and fee. But you will find that there will always better player on btc rather than altcoin on most site. Altcoin is only some diversion to them after they losing some btc. But it is really good if OP can give some altcoin out

[Oilacris]

so house will be 1% MAX from now on.

That is a good move but what do you think about high transaction fees?

I think you may need to consider to design your game based on other altcoins which can confirm transaction faster with the very low fee then you may get players. No one wants to waist so much transaction fee to bet.

Yes, this might do since btc are on huge transaction fee but still people are used to btc rather than other altcoin. May be it is the best alternative to do since altcoin have better transaction speed and fee. But you will find that there will always better player on btc rather than altcoin on most site. Altcoin is only some diversion to them after they losing some btc. But it is really good if OP can give some altcoin out

Why would need to choose if you can have both? Since there are still some people who do always prefer to use up bitcoin without minding those fees but i would say regarding on how high the tx fee nowdays then they will surely change their mind and might switch to altcoins.On this case putting both options would really be an advantage thing because if gamblers would able to see this they wont really hassle theirselves on which one they would select.It would really depend on their preference.

[thirdprize]

If I code it right I should be able to run the same games on BTC and ETH/LTC.  I don’t want accounts as that can be hacked.  If the money comes in and goes out from the same address, there’s less to lose.

[LuanX3]

If I code it right I should be able to run the same games on BTC and ETH/LTC.  I don’t want accounts as that can be hacked.  If the money comes in and goes out from the same address, there’s less to lose.

So you want something like on-chain gambling. To be honest, there have been tons of those kinds of games. But really, not has survived. A lot of them just died because the fees for the game are quite a pain in the ass for everybody. For example, a player plays with just 0.01btc and he pays 0.0005btc on top of that bet. Then he wins with just 0.0095btc that means he is not playing at a house edge of 1%. I hope you got my drift.

[veleten]

So, I was pondering ponzi/HYIP investment sites and came up with what I think is a provably fair and fully transparent game.  I was wondering if anyone else had had the idea before me and what you guys thought of it?

The idea is that the players pay x satoshis into an address.  Quite simply, once ten deposits have been made the contents of the address is divided among the players.  One gets 40%, one gets 30%, one gets 20% and the house gets 10%.  This gives you a roughly 3:10 chance of winning (and there is no reason for the house to cheat as they get their 10% whatever).  I am not a gambler, but I like those odds.  The groupings of 10 would be based on the order of the transactions in the block chain and the winners would be picked based on the last digits of the last 3(ish) transactions ids.  That would be fairly hard to fix from a players point of view.  If you think its rigged then just check the blockchain.

On the whole, it would be fairly easy to implement and be pretty scalable.  You could have games for bets of 100, 1000, 10000, 1000000, sats etc.  You could have time based games.  The pot is open for an hour and the winner is decided the same way but at greater odds.

What do you think?

pretty easy to implement as in are you a backend dev?
all in all the idea is nothing really fascinating and it won't be beating any player base records
especially since the site will be new,without advertising,starting capital or bankroll
the best shot would be posting it in the appropriate section and see if anyone wants to participate in developping it

[thirdprize]

So, I was pondering ponzi/HYIP investment sites and came up with what I think is a provably fair and fully transparent game.  I was wondering if anyone else had had the idea before me and what you guys thought of it?

The idea is that the players pay x satoshis into an address.  Quite simply, once ten deposits have been made the contents of the address is divided among the players.  One gets 40%, one gets 30%, one gets 20% and the house gets 10%.  This gives you a roughly 3:10 chance of winning (and there is no reason for the house to cheat as they get their 10% whatever).  I am not a gambler, but I like those odds.  The groupings of 10 would be based on the order of the transactions in the block chain and the winners would be picked based on the last digits of the last 3(ish) transactions ids.  That would be fairly hard to fix from a players point of view.  If you think its rigged then just check the blockchain.

On the whole, it would be fairly easy to implement and be pretty scalable.  You could have games for bets of 100, 1000, 10000, 1000000, sats etc.  You could have time based games.  The pot is open for an hour and the winner is decided the same way but at greater odds.

What do you think?

pretty easy to implement as in are you a backend dev?
all in all the idea is nothing really fascinating and it won't be beating any player base records
especially since the site will be new,without advertising,starting capital or bankroll
the best shot would be posting it in the appropriate section and see if anyone wants to participate in developping it

Having looked into the legal paperwork, it looks too expensive and technical if i want too do it legally.  If anyone wants do do the paperwork and hire me to write it, PM me.