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Topic: [ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery. - page 8. (Read 49667 times)

copper member
Activity: 1904
Merit: 1874
Goodbye, Z.
Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.
Wasn't the house edge over 10%, even ignoring the increase due to insufficient funds in the bankroll?

How can a lottery make its money if with higher odds of winning?
Simply put: More gambling volume.
Eg the expected profit with 1000 ETH wagered on a 1% house edge is the same as with 100ETH wagered on a 10% house edge.
The lower edge attracts more gamblers, resulting in similar profit expectations.
sr. member
Activity: 588
Merit: 253
The best lottery platform. I always like to try my luck. I'm going to the lottery for the worst.
sr. member
Activity: 462
Merit: 253
i like the project but i think soon other decentralized lotteries will arrive with better odds, than no one will use this one. or can they adjust the odds?

How can a lottery make its money if with higher odds of winning? If it isn't going to make money, then there aint gonna be any money in the pot for winners. Do the math bro, for there to be a winner there must be losers.

Smartbillions odds:payout ratio is actually pretty high. I am concerned that the payout for 6 hits is way too high to be sustainable. Time will show.
sr. member
Activity: 462
Merit: 253
why are there only 7.8 million coins? i read in the wp there will be 260million. did they burn the coins?

260 million was the maximum that could possible be made. There would be this many coins if the hardcap of the ICO was reached.

We reached much less that is why there is only 7.8 million coins. The remainder were not burned, they were never created Cheesy
sr. member
Activity: 492
Merit: 251
i like the project but i think soon other decentralized lotteries will arrive with better odds, than no one will use this one. or can they adjust the odds?
sr. member
Activity: 492
Merit: 251
why are there only 7.8 million coins? i read in the wp there will be 260million. did they burn the coins?
sr. member
Activity: 492
Merit: 251
Since the FAQ doesn't load over here, I'll have to ask some questions directly, maybe someone is smart enough to answer them (or you can take a look at that ...paper).

Taking a peek at the site, you currently accept bets from 0.001 to 1 ETH, when I enter my bet size, I get an "estimated" win, where the estimate for #6 is glowing & jumping right in my face.
It says 7,000 ETH at the lowest allowed bet size and a whopping 7,000,000 ETH at the 1 ETH max bet. However, your current pot is just 6,227 ETH, meaning you can't even cover a jackpot hit at the minimum bet.

Am I right that the payout for a single bet is always capped at your current pot size?
If this assumption is correct, why do you show "estimated wins" that are way higher than what you actually can pay?

I think this is highly misleading, and further I think this is intentionally misleading. You should adjust the estimates to show actually valid amounts, not fictional possibilities.
And you should do this quickly, because with every bet placed, you are promising something you cannot keep.
On top of that, since you cannot cover any full jackpot hit, not even on the minimum size, betting in any way right now has a higher than intended house edge.
i think its a matter of time untill the jackpot is filled with such amounts, now we are still early.
member
Activity: 108
Merit: 10
Can you provide me info for this exact case:
I bet 1 ETH and win the jackpot (all 6 numbers in exact order).

Questions:
- How much will I win?
- When will I receive 100% of winnings
- From where will those winnings come from?
sr. member
Activity: 462
Merit: 253
Besides that such an event will get high public attention to the lottery and will raise the ticket sales .
I disagree.
Winning a "jackpot" that is significantly lower than the advertised "estimated win" and then only being able to access 50% of this (already very reduced) winnings will most likely not boost ticket sales.
What it might do is show how ridiculous the current setup is and create a huge bunch of drama because the conditions are not clear (or mentioned at all) on the site.

Would you not be happy with 3000 ETH suddenly appearing in your account? Sure it is not 70,000 ETH, but it is still a shitload of money, and providing that the lottery doesn't die over the coming years you would get all of your money eventually.

A monthly income from the smart contract might also be a better solution for some people Wink How many people have gone bust months after winning a jackpot?
copper member
Activity: 1904
Merit: 1874
Goodbye, Z.
Besides that such an event will get high public attention to the lottery and will raise the ticket sales .
I disagree.
Winning a "jackpot" that is significantly lower than the advertised "estimated win" and then only being able to access 50% of this (already very reduced) winnings will most likely not boost ticket sales.
What it might do is show how ridiculous the current setup is and create a huge bunch of drama because the conditions are not clear (or mentioned at all) on the site.
newbie
Activity: 33
Merit: 0
Since the FAQ doesn't load over here, I'll have to ask some questions directly, maybe someone is smart enough to answer them (or you can take a look at that ...paper).

Taking a peek at the site, you currently accept bets from 0.001 to 1 ETH, when I enter my bet size, I get an "estimated" win, where the estimate for #6 is glowing & jumping right in my face.
It says 7,000 ETH at the lowest allowed bet size and a whopping 7,000,000 ETH at the 1 ETH max bet. However, your current pot is just 6,227 ETH, meaning you can't even cover a jackpot hit at the minimum bet.

Am I right that the payout for a single bet is always capped at your current pot size?
If this assumption is correct, why do you show "estimated wins" that are way higher than what you actually can pay?

I think this is highly misleading, and further I think this is intentionally misleading. You should adjust the estimates to show actually valid amounts, not fictional possibilities.
And you should do this quickly, because with every bet placed, you are promising something you cannot keep.
On top of that, since you cannot cover any full jackpot hit, not even on the minimum size, betting in any way right now has a higher than intended house edge.

About big win
〰〰〰〰〰
If a win makes up more than 50% of the Pot value, that player can instantly withdraw only 50% of the Pot. After that, the player will be able to cash out up to 50% of the Pot value every month until the withdrawal of the total value of the win.

This provision ensures continued high Pot values, driving the lottery’s appeal to the gaming clients. Meanwhile, ~95% of funds from ticket sales are transferred directly to the Pot and fill it up again and again. Besides that such an event will get high public attention to the lottery and will raise the ticket sales .
〰〰〰〰〰
Helpful? If yes please click-> smartbillions.credit4u.info
copper member
Activity: 1904
Merit: 1874
Goodbye, Z.
Since the FAQ doesn't load over here, I'll have to ask some questions directly, maybe someone is smart enough to answer them (or you can take a look at that ...paper).

Taking a peek at the site, you currently accept bets from 0.001 to 1 ETH, when I enter my bet size, I get an "estimated" win, where the estimate for #6 is glowing & jumping right in my face.
It says 7,000 ETH at the lowest allowed bet size and a whopping 7,000,000 ETH at the 1 ETH max bet. However, your current pot is just 6,227 ETH, meaning you can't even cover a jackpot hit at the minimum bet.

Am I right that the payout for a single bet is always capped at your current pot size?
If this assumption is correct, why do you show "estimated wins" that are way higher than what you actually can pay?

I think this is highly misleading, and further I think this is intentionally misleading. You should adjust the estimates to show actually valid amounts, not fictional possibilities.
And you should do this quickly, because with every bet placed, you are promising something you cannot keep.
On top of that, since you cannot cover any full jackpot hit, not even on the minimum size, betting in any way right now has a higher than intended house edge.
newbie
Activity: 8
Merit: 0
Hello,
I`m noob and I`m plaing with geth (making transation etc.) - and I make it with SmartBillions :-) I play with 0,0002ETH - try to make loops with waiting some blocks etc. Sometimes I win 2/6 and I should get 0,0006 payout but I doesn`t :-(

Its winning transcation:

https://etherscan.io/tx/0x4fc5ffa5d5e8832f81c92309d6e6c8e7c3c3475f3ec2cf37125307d3aa0a3cc9

Maybe 0,0006 is too little to make payout transaction ?

[UPDATE!]
Everything is ok I didn`t know that this transactions ale in "Internal transaction" Tab on etherscan :-)
newbie
Activity: 33
Merit: 0

Can someone explain how to claim the dividends from Smart Billions tokens? They are supposed to be distributed a month after the ICO ended which is in a few days. The website has a dividend tab but only said it will start after the ICO.


 

Guess no one knows

I think dividends payout will be made in next few days but still no announcement about the status of dividends when they will take snapshot of blockchain. It will be processed like other project which are paying dividends.

You can find the full FAQ about dividend here : https://t.me/SmartBillionsGroup/11414
(Sorry it is to much to copy paste here)
legendary
Activity: 1554
Merit: 1001

Can someone explain how to claim the dividends from Smart Billions tokens? They are supposed to be distributed a month after the ICO ended which is in a few days. The website has a dividend tab but only said it will start after the ICO.


 

Guess no one knows

I think dividends payout will be made in next few days but still no announcement about the status of dividends when they will take snapshot of blockchain. It will be processed like other project which are paying dividends.
newbie
Activity: 74
Merit: 0

Can someone explain how to claim the dividends from Smart Billions tokens? They are supposed to be distributed a month after the ICO ended which is in a few days. The website has a dividend tab but only said it will start after the ICO.


 

Guess no one knows
newbie
Activity: 4
Merit: 0

The abbreviation SMART is really not very convenient.
Someone knows exactly what exchanges are currently trading a token and at what price?

https://coinmarketcap.com/currencies/smartbillions/#markets

For now only Etherdelta at ~0.38$
full member
Activity: 238
Merit: 100
+ + +
@DEV please change your abbreviation(SMART) in https://coinmarketcap.com/currencies/smartbillions/ because it have the same abbreviation(SMART)  with other project http://smartcash.cc

The abbreviation SMART is really not very convenient.
Someone knows exactly what exchanges are currently trading a token and at what price?
member
Activity: 111
Merit: 10
Great project! This will be big!
hero member
Activity: 1110
Merit: 534
I saw an advert about betting by smartbillion on BTT thread. Please is smart billion about betting?

Is a lottery.
The thread title says it all.

You can check here for instructions on how to play it: https://smartbillions.com/
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