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Author Topic: How about bringing lottery on blockchain?  (Read 179 times)
mehran8282
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June 30, 2019, 06:46:45 PM
 #1

Just sharing some idea...

What you think guys of making a lottery, which holds yearly, on blockchain, for instance on Ethereum smart contract. Everyone could pays for a token (i.e. min 1$) and so join the lottery.
this lottery could be done on yearly bases and done by a random function already established on the blockchain or smart contract. The lottery prize could be equal to the whole blockchain value or main part of it!

We have such national lotteries in every country but this time it could be held globally, borderless, and in a much transparent way on blockchain!

No doubt that such a thing should be well promoted and widely adopted by the crowd so that its prize reach to a lucrative amount to be seductive for people taking part in!

Let me know of your opinions.
Thanks
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July 04, 2019, 04:39:57 PM
 #2

Your idea for lottery has been shown in similar manner such as matchbillion, but that project is in powerball game only. In my opinion, lottery is similar with gambling. There are some gambling project with no good result in the ICO....Some were failed such as Urunit, other gambling has been so so such as Astor Game, etc.

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July 04, 2019, 07:09:01 PM
 #3

Unfortunately, you're not the first person with such idea. There are already few lottery on ETH's blockchain such as ETHEX.
If you want to make your own loterry on blockhain, you should write a smart contract for it & an investor for initial funds.

Even so, few people argue that miners could manipulate the block hash if the lottery reward is big enough to risk them losing earned coins from mining.

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July 04, 2019, 08:16:44 PM
 #4

Unfortunately, you're not the first person with such idea. There are already few lottery on ETH's blockchain such as ETHEX.
If you want to make your own loterry on blockhain, you should write a smart contract for it & an investor for initial funds.

Even so, few people argue that miners could manipulate the block hash if the lottery reward is big enough to risk them losing earned coins from mining.
The problem isn't that at first, the first and main subject is how to make it popular and attract people. A lot of lottery websites/companies have run and almost all of them failed, they can't make their service popular so to sum up, it seems crypto market is closed for lottery, at least for now.
There are some exiting ideas that you can't bring because there is no demand and lottery on blockchain is one of them. It would be interesting to know, why we don't see lottery on bc from big lottery companies? Because there is huge demand on blockchain technologies from all over the world: Mastercard, Walmart, Governments are interested in it. But there wasn't any interest from lottery companies.

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July 04, 2019, 10:00:39 PM
 #5

Let me know of your opinions.
Thanks
Yearly lottery? You will surely fail on such idea.If you do try to look at on the Gambling section board and find those the same lottery games
either using up a smart contract or not,they do all fail except for Freebit.co.

Yearly draw is way too long and most people or bettors cant really afford to wait up for that much.I do even see lottery duration for about
15 seconds or 1minute results but they didnt still get any impact.


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July 04, 2019, 10:17:30 PM
 #6

Even so, few people argue that miners could manipulate the block hash if the lottery reward is big enough to risk them losing earned coins from mining.

Not to mention private lotteries are illegal; this would further sour the crypto reputation.

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July 24, 2019, 01:38:29 PM
 #7

Build positive sum games, not zero sum games, or in this case if there is a commission it is a negative sum game
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July 24, 2019, 06:17:46 PM
 #8

We have such national lotteries in every country but this time it could be held globally, borderless, and in a much transparent way on blockchain!

Then that would be illegal to do so not unless all of the countries in the whole world will allow it operating such global lottery would break various domestic laws depending on what country you are in. Great idea but could you expect that all countries would allow it if they can't even agree on other matters relating to international problems? I don't think so, like I said its a great idea but definitely not plausible as of the moment.

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Bitcoin Gambling
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July 25, 2019, 12:21:13 AM
 #9

We are already running a Blockchain based gambling game for 3+ years. Check the link in my signature for details.

https://www.Chain-Bet.com - Gambling Game based on Bitcoin Blockchain
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July 25, 2019, 08:42:20 AM
 #10

I think that Lottery is old gambling type, we could use blockchain for developing something new!
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July 25, 2019, 11:21:04 AM
 #11

Just sharing some idea...

What you think guys of making a lottery, which holds yearly, on blockchain, for instance on Ethereum smart contract. Everyone could pays for a token (i.e. min 1$) and so join the lottery.
this lottery could be done on yearly bases and done by a random function already established on the blockchain or smart contract. The lottery prize could be equal to the whole blockchain value or main part of it!

We have such national lotteries in every country but this time it could be held globally, borderless, and in a much transparent way on blockchain!

No doubt that such a thing should be well promoted and widely adopted by the crowd so that its prize reach to a lucrative amount to be seductive for people taking part in!

Let me know of your opinions.
Thanks
I actually am pretty interested in the possibility of running something like a lottery or another p2p gambling sorta game (coinflip), I've always thought that would always be a market for gambling games that wasn't the player betting against the house.

Keep in mind, to run a lottery and gambling project - there are a lot of paperwork and legal requirements that one has to pass, and there is a lot of development and marketing to commit to before you can even think about turning a profit from your idea.

Let me know of your opinions.
Thanks
Yearly lottery? You will surely fail on such idea.If you do try to look at on the Gambling section board and find those the same lottery games
either using up a smart contract or not,they do all fail except for Freebit.co.

Yearly draw is way too long and most people or bettors cant really afford to wait up for that much.I do even see lottery duration for about
15 seconds or 1minute results but they didnt still get any impact.
This would be an issue as well, no one is going to wait so long for a lottery. If you base it like Powerball or regular lotteries, you'd need to draw lotteries like every week or 2, not yearly.


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July 25, 2019, 12:27:20 PM
 #12

Not to mention private lotteries are illegal; this would further sour the crypto reputation.
That depends where you live. There a rules but a lotto drawing for friends and family or a betting pool at work is totally legal here. This subject always get attention when the worldcup hits its season.
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July 25, 2019, 02:48:34 PM
 #13

recent project about the lottery is loteo. they used eth blockchain and they do weekly lottery where the prize will be distributed to the lottery winner and their security token holders.

their utility token has been listed on several exchanges, such as cointiger and eterbase. seems like they're not going to be the last one to do such thing though.
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July 26, 2019, 05:25:33 AM
 #14

Annual lottery is not feasible, every year your project pays only once, it does not create too much credibility for many people to participate.

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