[BITLOTTO] Mar 1 draw over $2000 or 50BTC! Tickets now 0.1 BTC for Apr 5

[Otoh]

Blockchain.info is good. It sends from an address in your wallet and I think it even has a dropdown box to choose which one. Recommended.

yes it does & all very easy to use too, even when not totally sober  

PS I've edited my original post above to explain how come I messed up...

[schnell]

Why not from an online wallet?

Because if you win and it sends the winnings back to the same address it may not be available to you. It depends how the addresses are allocated/managed by the wallet. They may send from an address that is not the one you would receive on. eg. MtGox sends on pretty much some random address different form the one in my account.

Ah, that should be explained a bit more
I use blockchain.info, and I have indexed my priv keys, so im good
Thanks!

[bitlotto]

I do list blockchain.info as an exception so it should work.

And I'll refund the 9.75 right away. I really try not to open the wallet too often. (Mostly my own paranoid security measures) But as I know they want to enter the rest I'll try to do it soon. I'll also update the website to be more accurate with the jackpot size.

GOOD LUCK!!!!

[bitlotto]

Ah, that should be explained a bit more
I use blockchain.info, and I have indexed my priv keys, so im good
Thanks!

Ya, I'm not sure how to better explain it but I'll give it a shot.

I honestly think the most simple way is to say no online wallets but list exceptions.

I only know of:
http://strongcoin.com/
http://blockchain.info/wallet

Are there any other popular ones that would work with my lottery?

[bitlotto]

Website has been fixed to not include the over payment (refund of 9.75 sent -the tx that sent the 10 BTC could still win as 0.25 was left in for that tx) and so far the jackpot for March 7 is just shy of 60 BTC!!!!

[Stephen Gornick]

Website has been fixed to not include the over payment (refund of 9.75 sent -the tx that sent the 10 BTC could still win as 0.25 was left in for that tx) and so far the jackpot for March 7 is just shy of 60 BTC!!!!

Though the October 2011 jackpot was bigger in terms of BTCs (the lotto was 1.0 BTC per ticket back then)  there were fewer  tickets sold (140 of them).
 - http://bitcointalk.org/index.php?topic=34007.msg558083#msg558083
[Update: Scratch that.  The switch to 0.25 BTC occurred prior to October 2011, so the Oct '11 jackpot had more tickets sold -- 560 (which remains the record high yet).]
 
This month at over 60 BTC where each ticket is 0.25 means there are over 240 tickets sold.  More than twice last month's total (of about 120 tickets).

[N.Olmos]

That long downtime a few weeks ago almost killed BitLotto.

n.olmos

[Otoh]

Website has been fixed to not include the over payment (refund of 9.75 sent -the tx that sent the 10 BTC could still win as 0.25 was left in for that tx) and so far the jackpot for March 7 is just shy of 60 BTC!!!!

Many thanks, got it - I'll resend the bets now, sorry for the extra work  

The way I was thinking for doing larger bets is if someone sent you say 10 BTC to a special large bets address that gets generated on request for each customer, your bot would then resend all of this in 0.25 BTC chunks to the normal monthly lotto address to create the 40 hashes necessary for the lotto, if one of these won then the prize would go to first the customer's exclusive large bets address & then on to them from that to the address they sent the 10 BTC from, they could also send more than 1 large bet to their exclusive LBA & this address could even be constant & just adjusted internally for each new month's lotto. It looks cheat proof to me & not too hard to set up - though I'm no programmer

I'll post this in your thread for feedback

Cheers, Otoh

Edit: perhaps the tx from customer to their LBA would need to be made public at the time so that all could see the prize went back to the winner's own address via it, or just a list of each generated LBA & which customer address it received funds from

[bitlotto]

That long downtime a few weeks ago almost killed BitLotto.

n.olmos

Ya it sucked!!! My hardest problem is finding a DNS and host that work properly through TOR. But EVEN *IF* the website and everything was taken down BitLotto will continue. As long as there are players who want to play I'll continue it. Just posting the address on this forum will keep it alive even if the website is shut down. The addresses will be gpg signed to ensure that I'm still the same person running it. In other words it will only end when I and my back up person die at the same time or people quit playing!!

[bitlotto]

Wow, over 75 BTC. BitLotto is making a comeback! Good luck to those who enter.

Otoh: I will look into that. I don't know about making it automatic as I have to have a wallet exposed to the Internet. I like to make sure that I keep security pretty high as I can never afford a single loss of funds. One loss would ruin me. I want to be the most secure, cheat proof lottery around. Unless I do the work manually myself. I may do it. We will see. But the more I think of it though, if someone wanted to invest a lot it wouldn't be hard to paste the address a few times and enter 0.25 each time....

[N.Olmos]

Thank you bitlotto for running the lottery.

I have been buying a few tickets each month and will continue to do so until it stops running.

I did missing two draws as I was checking the website from time to time and did not know the drawings were still ongoing.

Best,

n.olmos

[Ricochet]

Ah what the hell.  Might as well enter the lottery.  Better chances than the local gas station at least.

[farfiman]

Wow, over 75 BTC. BitLotto is making a comeback! Good luck to those who enter.

Over 100 !

[bitlotto]

March lottery is over. Jackpot grew to over 100 BTC. Winner will be announced soon. Next draw is April 4. Good luck!

[Stephen Gornick]

Looks like someone bought a ticket after the deadline.  So once that is returned, looks like there were about 450 tickets sold.

Incidentally, reading the article about the PowerBall Lottery I saw this:
"Powerball retailers in Rhode Island get eight cents on the dollar for every ticket sold [from Rhode Island]."
 - http://news.yahoo.com/336-4m-powerball-winner-newport-ri-woman-81-160939430.html

Eight percent of the ticket sales (in R.I. at least) goes straight to the convenience store or wherever you bought the ticket.  OUCH!

I don't know the exact payout but have seen something to the effect of payouts being in the 70% range.  Compare this to BitLotto at 99% payout.

Then the jackpot, based on ticket sales, was $336.4 million but the winner wants a lump sum (at 81 years old, wise choice!) so that drops it to $210 million.  The state of Rhode Island got an additional $14.7 million on the income taxes on the prize that are subtracted before the winner sees the money.

Now I know some of the profits from state-run lotteries go to good uses but at 70% or whatever payouts exist for wagering in those lotteries they've never interested me.

[BkkCoins]

Looks like someone bought a ticket after the deadline.  So once that is returned, looks like there were about 450 tickets sold.

Incidentally, reading the article about the PowerBall Lottery I saw this:
"Powerball retailers in Rhode Island get eight cents on the dollar for every ticket sold [from Rhode Island]."
 - http://news.yahoo.com/336-4m-powerball-winner-newport-ri-woman-81-160939430.html

Eight percent of the ticket sales (in R.I. at least) goes straight to the convenience store or wherever you bought the ticket.  OUCH!

I don't know the exact payout but have seen something to the effect of payouts being in the 70% range.  Compare this to BitLotto at 99% payout.

Then the jackpot, based on ticket sales, was $336.4 million but the winner wants a lump sum (at 81 years old, wise choice!) so that drops it to $210 million.  The state of Rhode Island got an additional $14.7 million on the income taxes on the prize that are subtracted before the winner sees the money.

Now I know some of the profits from state-run lotteries go to good uses but at 70% or whatever payouts exist for wagering in those lotteries they've never interested me.

The 99% payout is the only reason I'm willing to play this lottery. The old saying goes "Lotteries are a tax on the stupid", but in this case only 1% stupid. If the chances of winning drop too much I'll drop out too. I like it around 100:1 roughly but it's already passed that.

[Otoh]

In Europe we get only 50% returned in prizes, so a 50% stupid tax - now we just need BitLotto to have the same size of jackpots as it does, except that would be all the possible coins ever in existence until they're worth considerably more each

[N.Olmos]

50%! WOW!

Perhaps we have been doing it wrong all along. Instead of trying to get big businesses to adopt bitcoin we should try to get the the lottery players of the world to use bitcoin.

Breakdown of BitLotto revenue

0.5%   in profit to BitLotto*
0.5%   in operating costs*
0.0%   in commision to the retailers
0.0%   to the Government
0.0%   for Good Causes
99%    to winners
vs.
above chart

* split 1% since I don't know if BitLotto is profitable.

[Otoh]

50%! WOW!

Perhaps we have been doing it wrong all along. Instead of trying to get big businesses to adopt bitcoin we should try to get the the lottery players of the world to use bitcoin.

Breakdown of BitLotto revenue

0.5%   in profit to BitLotto*
0.5%   in operating costs*
0.0%   in commission to the retailers
0.0%   to the Government - to waste on stupid shit that you probably disagree with anyway
0.0%   for Good Causes - ie not you
99%    to winners
vs.
above chart

* split 1% since I don't know if BitLotto is profitable.

FTFY

yep 50% surprised me when I looked it up & I've paid a lot in to that stupid tax fund over the years, from now on it's all going to go to Bitlotto except when the € jackpot is over €100M (when I'll play both), also if a few millions of lottery players cut out the middle men by using BitLotto the prize return for winners could probably go up as it's quite scalable without much extra work I'd imagine, say if $10M was staked then a return of 99.9% would leave a healthy $10,000 per week for the operator, even with 99.99% returned it would still give him $1,000 per week in beer money on a weekly draw

[koin]

0.0%   to the Government

bitlotto should change its slogan, from
 "anonymous, transparent, and cheat-proof with a 99% payout!"
to just
 "0.0%   to the Government"