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Author Topic: CoinsLottery(Coming Soon)(Hiring)  (Read 1651 times)
Matthew N. Wright
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April 09, 2012, 10:59:16 PM
 #21

@Matthew
I am perfectly fine with not being anonymous. How would you like me to do that. I could go and write a autobiograpghy but what would that prove beside that I can write a biography. I can give you my phone number,my name and even my address.

I'm not your customer nor will I likely be in the future (nothing personal, not a huge fan of lotteries) therefor it doesn't matter what I want, it matters what your customers want. When you get some, ask them.

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starsoccer9
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April 09, 2012, 11:00:33 PM
 #22

by that I am assuming you mean invest my coins the first couple of weeks to start out the site correct? I planned on doing this already and I will work on changing my lottery from a normal one to a mega millions style once since it seems to never have been done.
@matthew
Ok but if you were a customer what would you like?

Matthew N. Wright
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April 09, 2012, 11:01:14 PM
 #23

by that I am assuming you mean invest my coins the first couple of weeks to start out the site correct? I planned on doing this already and I will work on changing my lottery from a normal one to a mega millions style once since it seems to never have been done.

He's talking about putting up the money in the first place.

You need to do more research if you don't understand what he's talking about.

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April 09, 2012, 11:14:30 PM
 #24

Ok I will, Also Just as another point that I am not scamming anyone. Why would I post im hiring some one to help me automate the process of paying the winner if I had the intention to steal the money.

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April 09, 2012, 11:18:50 PM
 #25

Ok I will, Also Just as another point that I am not scamming anyone. Why would I post im hiring some one to help me automate the process of paying the winner if I had the intention to steal the money.

And just another note to you, scammers constantly defend themselves using these exact words "If I were a scammer, why would I...".

Work, don't talk. Then we'll know you're not a scammer.

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April 09, 2012, 11:44:07 PM
 #26

by that I am assuming you mean invest my coins the first couple of weeks to start out the site correct? I planned on doing this already and I will work on changing my lottery from a normal one to a mega millions style once since it seems to never have been done.
@matthew
Ok but if you were a customer what would you like?
The way Mega Millions works is they put up a jackpot BEFORE anyone has paid them any money.  Statistically, Mega Millions will come out ahead on the jackpot, but that doesn't always happen.  Therefore, you need funds to put up a sizeable jackpot, and you need funds to replace that jackpot if someone happens to win it quickly before you generate enough ticket sales to pay for it.  And heck, you should probably have funds to replace the jackpot twice, just in case.

So, if you can put up a sizeable jackpot, can replace the jackpot at least twice with your own funds without any help from ticket sales, and can come up with a way to prove that you aren't manipulating the results (i.e., base it on the blockchain with a verifiable result posted prior to the drawing), then I think you might have a chance at building a successful lottery.
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April 09, 2012, 11:49:13 PM
 #27

I have coins to start it but not enought to replace it 2 times. Thank you for explaining to me how it works. In your opinion how much is a sizeable jackpot. How much would it take for you to try my lottery?

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April 10, 2012, 12:54:23 AM
 #28

I generally don't play lotteries, because I'm not a gambling man.  I know the odds are against me.  However, there are a good number of people here who DO play lotteries.

In my opinion, a sizeable jackpot would be no less than 100 BTC.  If I was setting up a mega-millions style lottery, I would set the odds at 30% of the ticket price divided by the initial jackpot prize, with half the ticket price going back into the jackpot.

In other words, for a 100 BTC jackpot, I'd give each ticket of 1 BTC a 1 in 333 chance to win.  And if 100 people entered @ 1 BTC each the first week, and no one won, then the jackpot would increase to 150 BTC the next week.

Someone tell me if my logic is flawed.  I am by no means a lottery expert, but I would expect these odds to pay out in favor of the lottery coordinator to the tune of about 1.2 BTC per 1 BTC paid in.

That might be too slim of a margin for a startup lottery, but I think much more of a margin and people wouldn't enter it.

If you don't have 300 BTC on hand (3 jackpots), you could always search for investors who believe in the idea enough to back you up if the luck stacks against you.  Eventually, they (and you) would win out.
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April 10, 2012, 02:29:34 AM
 #29

Thank you very much sgt for helping me. as for finding investors I am pretty sure GLBSE is my best choice correct?

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April 10, 2012, 02:57:03 AM
 #30

a person will ask themselves, "Why not just gamble on bitlotto instead of this unknown guy's site?"  Which is a legitimate question.

maybe because they are bitcoin newbies who just happened to stumble across his lottery site first and have never heard of bitlotto
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April 13, 2012, 11:11:48 PM
 #31

Hi Could someone give me their opinion on these rates for winning. I am tottaly open to changes.
Just the Powerball Half of a bitcoin(1)
The Powerball and 1 Number 2 Bitcoin
The Powerball and 2 Numbers 5 Bitcoins
3 Numbers but without the Powerball 2.5 Bitcoins
3 Numbers and the Powerball 15 Bitcoins
4 Numbers but without the Powerball 10 Bitcoins
4 Numbers and the Powerball 20 Bitcoins
5 Numbers but without the Powerball 30 Bitcoins
5 Numbers and the Powerball Jackpot

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