Win a Lamborghini for 0.00056 BTC

[STT]

Not that strange, publicity costs money which is generally going to relate to rate of ticket sales.    I do think they are trying to make a profit so they'll be selling more tickets then the total price, what ratio thats likely to be I'm still not sure and has to be the biggest unknown factor imo.
With the fixed date for this scheduled to run, my guess it will just keep going until then and then close and draw a winner.   Even if they had covered the amount required already, I guess nobody is going to say hey stop buying more tickets I dont want more of your money :p    No lottery really stops more sales being done, they just run it till the due date given and cant really complain if they do similar here

[1713260327]

1713260327

[Twinkledoe]

Not that strange, publicity costs money which is generally going to relate to rate of ticket sales.    I do think they are trying to make a profit so they'll be selling more tickets then the total price, what ratio thats likely to be I'm still not sure and has to be the biggest unknown factor imo.
With the fixed date for this scheduled to run, my guess it will just keep going until then and then close and draw a winner.   Even if they had covered the amount required already, I guess nobody is going to say hey stop buying more tickets I dont want more of your money :p    No lottery really stops more sales being done, they just run it till the due date given and cant really complain if they do similar here

Do you think this lambo lottery will go through? The other one showed its true colour already, just pure scam. But this one, the OP is not active promoting this contest. More than a month of not being online here in the forum. Do you think it is suggesting something?

[MakeMoneyBtc]

Not that strange, publicity costs money which is generally going to relate to rate of ticket sales.    I do think they are trying to make a profit so they'll be selling more tickets then the total price, what ratio thats likely to be I'm still not sure and has to be the biggest unknown factor imo.
With the fixed date for this scheduled to run, my guess it will just keep going until then and then close and draw a winner.   Even if they had covered the amount required already, I guess nobody is going to say hey stop buying more tickets I dont want more of your money :p    No lottery really stops more sales being done, they just run it till the due date given and cant really complain if they do similar here

Do you think this lambo lottery will go through? The other one showed its true colour already, just pure scam. But this one, the OP is not active promoting this contest. More than a month of not being online here in the forum. Do you think it is suggesting something?

Well, this raffle was opened about 5 months ago and there is probably enough promotion made already so that he doesn't need to do it anymore by its own because people are promoting it for free. Honestly, I don't know what to say about this because it's being said the the creator of this raffle has organized another raffle back in 2017 when they offered a $1M house to someone and there have been news all around the internet about that. It might be just another thing that like or maybe that was all a faked raffle to have credibility for this one and raise more money. Personally this looks super suspicious and I would never participate in something like this but in order to take a conclusion you need to do more digging to find out who's really behind this and what is his purpose.

[wuvdoll]

I think the problem was there was no deadline, the deadline is literally all tickets sold and it could take years if he continues with this pace before he can sell all tickets and people who want to get a refund can't get it probably which is why there is a linear direction that all tickets will be sold one day even if it takes years.

We have seen another lambo raffle where the owner literally took the money and ran with it and since there was absolutely no way to get him people just said "well it figures" and most of the commentators already knew he was a scam, this is a different approach to it but it feels like the same way.

The creator of the raffle is doxxed so he can't say he scammed you that easily but he can just postpone the draw as much as he wants and eventually people will forget about it.

[adaseb]

I think the problem was there was no deadline, the deadline is literally all tickets sold and it could take years if he continues with this pace before he can sell all tickets and people who want to get a refund can't get it probably which is why there is a linear direction that all tickets will be sold one day even if it takes years.

We have seen another lambo raffle where the owner literally took the money and ran with it and since there was absolutely no way to get him people just said "well it figures" and most of the commentators already knew he was a scam, this is a different approach to it but it feels like the same way.

The creator of the raffle is doxxed so he can't say he scammed you that easily but he can just postpone the draw as much as he wants and eventually people will forget about it.

His last post was April 3rd and also his last activity, he hasn't returned since. I am guessing he was doing some legal and regulation work and probably ran into a roadblock and decided that its not possible to hold a contest such as this.

The house that he raffled off was different because it was a local scenario and his payment was taken in pounds. With Bitcoin you got issues because laws vary country by country and you also got the problem of KYC or No-KYC.

There are also environmental regulations which are a problem since a Lambo is a gas guzzler. So if the winner resides in a country where they don't sell Lambo's, then it will need to be imported and pass emissions. And depending on how strict the country is the cost can be significant to make it road legal.

[NeuroticFish]

I think the problem was there was no deadline

From what I see on the website, the deadline is end of August.

Closing date : 28/08/19

However, I agree that he should have been a bit more active around here.
I am still thinking if I should buy a ticket or two or stay away.

[beerlover]

Stay away for sure, there is no way this guy comes back around after months of writing nothing at all and then claiming the entry is still going on. There is no way this is a real thing and he tried his luck with another one after his house to see if he could make some profit but he didn't get enough attention which resulted with not many tickets sold and the amount of money collected didn't break over the lambo prize price which then meant he would have to pay the difference which he didn't want to nor could afford to.

Enlighten of everything he decided to just be awol and instead of running it like a legit business he decided that it would be wise to just make people forget about it, hell if people would still buy tickets time to time then he can finally finish waaaay after the deadline.

[STT]

Do you think this lambo lottery will go through? The other one showed its true colour already, just pure scam. But this one, the OP is not active promoting this contest. More than a month of not being online here in the forum. Do you think it is suggesting something?

There was strong indications of flaws in the copycat thread and I said as much, it was pro-porting to follow UK law but then actually failing to comply with various requirements.    This contest appears to be within the regulations, if he fell short on sales then it could proceed with a cash prize and thats been the case in similar instances.

Also these contests are very familiar to me, in UK its quite common and usually its done by companies but sometimes people with houses as said.    The main requirement I'd recommend is the free entry which is a legal requirement, you might as well get a ticket that way if nothing else.      I say its a contest because you have to answer the question right but if you do so you are entitled to enter via postal entry.    Then others may also answer correctly and it becomes a lottery which is choosen, hence you see how it plays out

[Haunebu]

Stay away for sure, there is no way this guy comes back around after months of writing nothing at all and then claiming the entry is still going on. There is no way this is a real thing and he tried his luck with another one after his house to see if he could make some profit but he didn't get enough attention which resulted with not many tickets sold and the amount of money collected didn't break over the lambo prize price which then meant he would have to pay the difference which he didn't want to nor could afford to.

Never found any of this legit to begin with. Just quick cash grab schemes and nothing else. I do hope that more and more people learn from these scams and stop investing in future scams.

There was strong indications of flaws in the copycat thread and I said as much, it was pro-porting to follow UK law but then actually failing to comply with various requirements.    This contest appears to be within the regulations, if he fell short on sales then it could proceed with a cash prize and thats been the case in similar instances.

Why risk money here anyway? After the other scams were unveiled, I cannot believe that others are still thinking that something like this might actually work out. I would invest in a legit lottery instead in comparison or gamble in some casino.

[STT]

See I come from the finance side of things, gambles and risks are natural phenomena but this is a constructed contest.  In any case my view is to examine the details and compare the value possible gained vs the risk or cost of entry.    This is how I assess value and also it explains why someone runs this contest, its profitable!    

Never trust anyone until you understand in what way they will profit, nothing wrong with that but until I can figure it out its far more uncertain to me.

450k x £1.8  = 810k
or 2 euro

max pay is 650k euro


24.77% fee applicable

So here is the details I wrote down earlier, really basic stuff but its outlying the odds basically and the rate of return.     So under full ticket sale, which I suppose this contest will return until the deadline trying to achieve then he takes 900,000 Euro in sales

Thats revenue, we ignore costs and his max pay out is 650k Euro  so we see the gross margin is 250k which is almost a third on total take.    A very good business if you can get the people, no need to be dishonest if you are this successful in life

If he does fail to get the full ticket sale, lets say he only sold 100k in Euro ticket sale.   I would guess its more due to good publicity but for round numbers.   Terms state he will then levy a fee of 24.77%
So the winner will receive 75,230 Euro.   We dont know the 24k euro will cover his costs but I would presume he would be ok, many businesses survives on less

The situation is that he will do better the more tickets he sells, the margin is slightly more that way

[BTCevo]

See I come from the finance side of things, gambles and risks are natural phenomena but this is a constructed contest.  In any case my view is to examine the details and compare the value possible gained vs the risk or cost of entry.    This is how I assess value and also it explains why someone runs this contest, its profitable!    

Never trust anyone until you understand in what way they will profit, nothing wrong with that but until I can figure it out its far more uncertain to me.

450k x £1.8  = 810k
or 2 euro

max pay is 650k euro


24.77% fee applicable

So here is the details I wrote down earlier, really basic stuff but its outlying the odds basically and the rate of return.     So under full ticket sale, which I suppose this contest will return until the deadline trying to achieve then he takes 900,000 Euro in sales

Thats revenue, we ignore costs and his max pay out is 650k Euro  so we see the gross margin is 250k which is almost a third on total take.    A very good business if you can get the people, no need to be dishonest if you are this successful in life

If he does fail to get the full ticket sale, lets say he only sold 100k in Euro ticket sale.   I would guess its more due to good publicity but for round numbers.   Terms state he will then levy a fee of 24.77%
So the winner will receive 75,230 Euro.   We dont know the 24k euro will cover his costs but I would presume he would be ok, many businesses survives on less

The situation is that he will do better the more tickets he sells, the margin is slightly more that way

The way they start this lambo thing is already wrong, and I do not find a good reason why they are offering this lambo of they do not even have a chance to sell their tickets. I feel sorry for them who already buy it. Although they write that it will end up oñAugust, we never know if such thing is exist. They shouls really giving such a prove just by holding this to make sure it is a legit site

[STT]

I said I would report back any similar contests I see news on and here is one for a £2m flat which did not sell enough tickets.    People arent happy as the cash prize actually drawn in the lotto was just 53k and the organisers gave themselves 120k in costs

https://metro.co.uk/2019/06/29/owners-refuse-hand-2000000-kensington-flat-raffle-raised-just-227000-10090309/

It doesnt say how many tickets they sold so I dont know if they gave a reasonable return but seems unlikely.   The problem with a flat is its a more specific type of sale then a large open house with pool etc. that could be someones dream residance.    A flat in London is often a requirement for people in jobs based there hence why the price is high, outside London people might prefer the big open house without the traffic of built up cities.

   Seems an elementary mistake to me!

[AmoreJaz]

I said I would report back any similar contests I see news on and here is one for a £2m flat which did not sell enough tickets.    People arent happy as the cash prize actually drawn in the lotto was just 53k and the organisers gave themselves 120k in costs

https://metro.co.uk/2019/06/29/owners-refuse-hand-2000000-kensington-flat-raffle-raised-just-227000-10090309/

It doesnt say how many tickets they sold so I dont know if they gave a reasonable return but seems unlikely.   The problem with a flat is its a more specific type of sale then a large open house with pool etc. that could be someones dream residance.    A flat in London is often a requirement for people in jobs based there hence why the price is high, outside London people might prefer the big open house without the traffic of built up cities.

   Seems an elementary mistake to me!

tbh, i dont think this will acquire the amount that they need to provide this lambo thing. the op is not active here so we dont know the updates of this lottery.
if there is a hint that they will gonna be successful, they will be confident in showing the stat bar of how much they collected so far.
i hope this will not end up like the lamboforbitcoin.com that posted here in the forum and saying that they will go live but ended up nothing...
we will know if this is real at the end of august???

[Jjewelle29]

Not that strange, publicity costs money which is generally going to relate to rate of ticket sales.    I do think they are trying to make a profit so they'll be selling more tickets then the total price, what ratio thats likely to be I'm still not sure and has to be the biggest unknown factor imo.
With the fixed date for this scheduled to run, my guess it will just keep going until then and then close and draw a winner.   Even if they had covered the amount required already, I guess nobody is going to say hey stop buying more tickets I dont want more of your money :p    No lottery really stops more sales being done, they just run it till the due date given and cant really complain if they do similar here

Do you think this lambo lottery will go through? The other one showed its true colour already, just pure scam. But this one, the OP is not active promoting this contest. More than a month of not being online here in the forum. Do you think it is suggesting something?

Im not a fan of a online lottery, but I think they are trying to make a profit, so that there's a chance that it's just a scam?

[STT]

No I think its legit, Im not vouching for it or that you get great value or anything but everything I've read on them pans out as in line with UK legislation that I'm familiar with and the last example I posted above or similar.
   The other thread was a copy cat scam and identified by a few old hands as such a few times, someone marked it with a warning popping up every time it was viewed.  It was pretty clear, if I had the ear of a mod I would have asked them to just lock and archive the thread out of sight as a few minor points stood out as illegitimate.

Also if you have doubts on this one, a simple thing you can do is take the free entry option possible via post.   Then if you are more confident, take an entry via BTC while its on a high seems reasonable imo

[Johnzky]

Extensions really depend on the pick up.

So far we have had technical/payment provider issues slowing us down, so the real launch (with fiat) only really started yesterday - eg when we sent out first press release.

As of now we are on less than 1k entries within the first day - there are a lot of pending entries so its difficult to say exactly at the moment.

I expect that an extension may be likely, but who knows with press coverage, one day on the house raffle alone brought in over 100k GBP.

This is the last post from OP and also his last “Online” and after almost two months he didn’t come to appear here and bring some update ,so from this many speculative idea coming from people involved here.though from the very start I have a doubt about this but yet I am waiting for what will be the ending

                                                  ~snip~
 

Well that’s the normal thinking of cryptonians since the op is Newbie and the price at stake is huge.but I don’t wanna throw my stone against it and will wait for the outcome