A massive daily jackpot lottery - page 2.

supine

full member

Activity: 1036

Merit: 109

Quote from: pezdspense on July 06, 2020, 06:07:20 PM

Hi everyone,

I know you have a lot of projects popping out here every day.
I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.

The only trusted Bitcoin or crypto lottery that I know is Freebitco.in but it isn't daily but a weekly lottery.
The site is one of the oldest faucet and gambling site in crypto it is a good site that already build a trust from their users.
They aren't just lottery but also a faucet site that gives us free Sats and also a free ticket on their weekly lottery they also have gambling game on their site,
So if you or the person who asked you to do research haven't tried it yet then you should really check it out.

P.S
Sorry it was a different lottery from what I have been thinking I haven't find any site that provide something like that yet.

pezdspense

newbie

Activity: 20

Merit: 1

Quote from: Shimmiry on July 07, 2020, 11:55:57 AM

Quote from: pezdspense on July 07, 2020, 11:25:22 AM

Thank you for your reply. And also all others who replied, I really appreciate you reacted.

So to start with, the idea of the project is pretty simple.
Each day a pool of all the bets made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as they like to increase their chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.

I think you should know the fact that such ideas are likely to have pretty numerous cons, yet the most disadvantage of that system is its fairness issue. If you could make a logic that wouldn't be favorable or bias on certain bets or just have the winning numbers be totally random, it would now make another con which is your user's trust. And what would they found much suspicious is the ticket/bet price which is too high compared to common lotteries. If you really want audiences, making blockchain lottery is fine, but you would struggle with gaining client's trusts and finding fairness bugs in your system..

Thats completely different point. The idea was exactly to make:
1. Provable and verifiable unbiased algorithm the does pure random winner selection.
2. Provable and verifiable payout mechanism.

So having that implemented, I wonder what would be the customer acquisition costs? Does it require licensing if whole logic is placed within a smart contract.

pezdspense

newbie

Activity: 20

Merit: 1

Quote from: dothebeats on July 07, 2020, 11:38:44 AM

I've been hearing a similar idea too, though IMO it would be pretty hard to get people in since most of them would be playing dice anyway and try their luck in there since they can control some of the factors affecting their win/loss compared to just putting something in a pot and hope for the best. While that is happening still on a daily basis on traditional lottery games, I don't think it will fare well given the multitude of options gamblers can choose from here on the crypto space. Either way, it'd still be a cool experiment to check how many people are really willing to try their extreme luck for the jackpot.

I can't find exact stats now, but I remember 60M people playing lotteries in the US alone.
Asian market is much larger.
BTW cryptolotto.live sounds like really close match, but I couldn't launch it to try (even though I have MetaMask installed).

Shimmiry

full member

Activity: 840

Merit: 105

★Bitvest.io★ Play Plinko or Invest!

Quote from: pezdspense on July 07, 2020, 11:25:22 AM

Thank you for your reply. And also all others who replied, I really appreciate you reacted.

So to start with, the idea of the project is pretty simple.
Each day a pool of all the bets made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as they like to increase their chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.

I think you should know the fact that such ideas are likely to have pretty numerous cons, yet the most disadvantage of that system is its fairness issue. If you could make a logic that wouldn't be favorable or bias on certain bets or just have the winning numbers be totally random, it would now make another con which is your user's trust. And what would they found much suspicious is the ticket/bet price which is too high compared to common lotteries. If you really want audiences, making blockchain lottery is fine, but you would struggle with gaining client's trusts and finding fairness bugs in your system..

dothebeats

legendary

Activity: 3542

Merit: 1352

I've been hearing a similar idea too, though IMO it would be pretty hard to get people in since most of them would be playing dice anyway and try their luck in there since they can control some of the factors affecting their win/loss compared to just putting something in a pot and hope for the best. While that is happening still on a daily basis on traditional lottery games, I don't think it will fare well given the multitude of options gamblers can choose from here on the crypto space. Either way, it'd still be a cool experiment to check how many people are really willing to try their extreme luck for the jackpot.

pezdspense

newbie

Activity: 20

Merit: 1

Quote from: Shimmiry on July 07, 2020, 10:53:15 AM

Quote from: Yatsan on July 07, 2020, 10:19:28 AM

~

Based on my comprehension, I found the thread pointing unspecific on what he really wanted to achieve. I don't really see if the OP is pertaining to lottery systems that either uses cryptocurrency as their fiat (in which uses blockchain technology as well) or is he talking about making a lottery system that uses blockchain as it's back-end technology. If he talks about crypto's blockchain, then maybe your vipgame.io is his best option. And if he wanted the back-end blockchain, I think Cryptolotto fits the category.

Nevertheless, getting ideas from others without specifying your whole plans or goals to achieve, you might find comments that are either unnecessary or off-topic with what you really intended.

Thank you for your reply. And also all others who replied, I really appreciate you reacted.

So to start with, the idea of the project is pretty simple.
Each day a pool of all the bets made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as they like to increase their chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.

Shimmiry

full member

Activity: 840

Merit: 105

★Bitvest.io★ Play Plinko or Invest!

Quote from: Yatsan on July 07, 2020, 10:19:28 AM

~

Based on my comprehension, I found the thread pointing unspecific on what he really wanted to achieve. I don't really see if the OP is pertaining to lottery systems that either uses cryptocurrency as their fiat (in which uses blockchain technology as well) or is he talking about making a lottery system that uses blockchain as it's back-end technology. If he talks about crypto's blockchain, then maybe your vipgame.io is his best option. And if he wanted the back-end blockchain, I think Cryptolotto fits the category.

Nevertheless, getting ideas from others without specifying your whole plans or goals to achieve, you might find comments that are either unnecessary or off-topic with what you really intended.

Raflesia

hero member

Activity: 2282

Merit: 560

_""""Duelbits""""_

Quote from: bitbunnny on July 07, 2020, 09:03:39 AM

Quote from: blockman on July 07, 2020, 08:47:26 AM

I sort of heard that idea before but it won't be as popular as the other crypto lottery that we have today. Why you need an advice? are you going to make your own lottery or you're just researching about them.
I think a blockchain-based lottery dwells more with the dApps. So you should check them out and search for them.

In both cases if he asks for some advice he should give more information. This is very general and, yes, many new ideas pop up all the time so for some suggestions or advice we should first get clearer picture to see if idea is good or not and will it find the place on the gambling market.

The ideas always come up when a lot of the suggestions that have been conveyed here I do not know why the OP is doing research like whether it really wants to make a site so it needs a good advisor to find a bright idea, and blockchain-based Lottery when really much I know there might be people who will tell in detail.

BitcoinTurk

hero member

Activity: 1694

Merit: 629

When we look at the preferences of users who usually gamble with crypto coins, we will see that lotto is not preferred much. Of course, low demand does not mean that there will be no service in this sector, but it should be known that in order to serve in this sector, there is a very strong capital requirement and a very good marketing effort is required. In addition, if the project is successful, it is possible to be the market leader in this field and become a monopolist in its field. The best advice I can give you is to do a lot of detailed research on this topic and never take action without fully mastering the topic.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

vipgame.io offer that kind of game and actually it's pretty good to play with! I played it once and the option is pretty good and you can still adjust the percentage of your winning.

Here's what it looks like:

The game is pretty good and it's based on EOS blockhain I think, so the result is fair.

*If I say something wrong here please correct me Grin

ryzaadit

legendary

Activity: 2688

Merit: 1262

Quote from: pezdspense on July 06, 2020, 06:07:20 PM

I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.

What advice did you need for the research?

I guess you will do some survey to collect some data from "lottery project", did your survey focus on the player experience by buying a lottery or have other topics you want to research? Need a more specific question for your research.

Casdinyard

hero member

Activity: 2184

Merit: 891

Leading Crypto Sports Betting and Casino Platform

Quote from: Maus0728 on July 07, 2020, 09:36:26 AM

Blockchain based lottery? Isn't it similar to the other existing projects cryptocurrency online gambling site similar to freebitco.in and the newest signature campaign above my reply which is Crypto Lotto?

Blockchain simply means that they are operating their gambling services using cryptocurrency is it not?

I still haven't heard of blockchain lottery as well.

All I know is that lottery is a game where there would be certain bets (set of numbers) and there would be a certain time where the numbers would be generated either physically (using balls with numbers) or generated on an online gambling's platform, and the winner is when there's a bet that has the same chronological order and numbers on the drawn numbers. I don't see any importance nor correlation of implementing blockchain system on such games.

And isn't the use of crypto is the only blockchain relation to the online lottery?

Maus0728

legendary

Activity: 1904

Merit: 1563

Blockchain based lottery? Isn't it similar to the other existing projects cryptocurrency online gambling site similar to freebitco.in and the newest signature campaign above my reply which is Crypto Lotto?

Blockchain simply means that they are operating their gambling services using cryptocurrency is it not?

blockman

hero member

Activity: 3066

Merit: 629

20BET - Premium Casino & Sportsbook

Quote from: bitbunnny on July 07, 2020, 09:03:39 AM

Quote from: blockman on July 07, 2020, 08:47:26 AM

I sort of heard that idea before but it won't be as popular as the other crypto lottery that we have today. Why you need an advice? are you going to make your own lottery or you're just researching about them.
I think a blockchain-based lottery dwells more with the dApps. So you should check them out and search for them.

In both cases if he asks for some advice he should give more information. This is very general and, yes, many new ideas pop up all the time so for some suggestions or advice we should first get clearer picture to see if idea is good or not and will it find the place on the gambling market.

We can't know those things until he comes back and give more information of the what's and why's.

Quote from: Sadlife on July 07, 2020, 09:19:42 AM

Dont know much about lottery i rarely see casino's that has those type of games but i do bet in sports bettings that could instantly earn money depends on the odds.
From what i see DApps are not yet widely used by gamblers i guess the most popular and in demand right now are sports bookies and casino games that are crypto based. You should look into it to, if you're conducting a survey.

Well, look to my signature it's a lottery.

There were the same ideas of game before when the market has been uprising. But after the bearish market has shown, they almost got no attention anymore.

Sadlife

sr. member

Activity: 1400

Merit: 269

Dont know much about lottery i rarely see casino's that has those type of games but i do bet in sports bettings that could instantly earn money depends on the odds.
From what i see DApps are not yet widely used by gamblers i guess the most popular and in demand right now are sports bookies and casino games that are crypto based. You should look into it to, if you're conducting a survey.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Quote from: blockman on July 07, 2020, 08:47:26 AM

I sort of heard that idea before but it won't be as popular as the other crypto lottery that we have today. Why you need an advice? are you going to make your own lottery or you're just researching about them.
I think a blockchain-based lottery dwells more with the dApps. So you should check them out and search for them.

In both cases if he asks for some advice he should give more information. This is very general and, yes, many new ideas pop up all the time so for some suggestions or advice we should first get clearer picture to see if idea is good or not and will it find the place on the gambling market.

blockman

hero member

Activity: 3066

Merit: 629

20BET - Premium Casino & Sportsbook

I sort of heard that idea before but it won't be as popular as the other crypto lottery that we have today. Why you need an advice? are you going to make your own lottery or you're just researching about them.
I think a blockchain-based lottery dwells more with the dApps. So you should check them out and search for them.

pezdspense

newbie

Activity: 20

Merit: 1

Hi everyone,

I know you have a lot of projects popping out here every day.
I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.

Topic: A massive daily jackpot lottery - page 2. (Read 361 times)