Bit-Syndicate - A Bitcoin Lottery Syndicate [Restarted!!!!!] - page 2.

TheBitMan

sr. member

Activity: 280

Merit: 250

Quote from: ?? on ??

I have a question...

What is the purpose of joining with you for Bitlotto Jr? I looked at your site, and it costs .06 BTC for one share through you. And on the Bitlotto site it costs only .05 BTC for one entry, and I would win way more that way instead of dividing it up.

There is probably something I'm not thinking about because there's a lot of people buying from you

At the end we all share the pot I put in .06 and got out .20 something I believe (around there)

Noviz

full member

Activity: 129

Merit: 100

If any of you have noticed this: https://bitcointalksearch.org/topic/make-03-btc-for-calculating-the-bitlotto-jr-draw-while-im-away-36777
The BitLotto organiser has had to go on a short notice trip to see his family.
This will not affect our syndicate as the draws are still going to take place... it just means that he will not be able to send winning payments out until he gets back at the end of the month.

So as I said, all syndicates are still operational, but please don't worry if there is a delay in payment if we win.
As I always say, feel free to contact me on here or via the other options on the bit-syndicate website.

Noviz

full member

Activity: 129

Merit: 100

Quote from: -FaerO- on August 12, 2011, 06:53:07 PM

Quote from: Noviz on August 12, 2011, 06:22:57 PM

Because of the more expensive ticket rate, compared to BitLotto Jr, syndicate members can also purchase a 'share' of a ticket.

Tickets are split into shares. Each share is 1/10th of a ticket (so there are 10 shares per ticket). This allows members to share a whole ticket with other members... meaning more people can join in and reap the benefits of playing lotteries in syndicates.

If you have any questions, ask here or via the other contact methods on the site.

I have a question. What will you do about leftover partial shares. For example. 29 partial shares are purchased. That is 2 tickets & 9/10ths of 1. What will be done about the additional share? Will you just cover the cost of it & enter into the drawing and take the equivalent of the remaining shares. Or will you just return the shares to those who submitted them? Either way great stuff

[/quote]

Oh bum! I knew i forgot to mention something lol.
Basically i'll make up the difference. I usually enter myself. So what will happen is I will wait to enter until the syndicate closes then make up the shares needed for a full ticket.

Of course that may change if it turns out I can't afford it... but for now ill buy the remaining shares.

-FaerO-

member

Activity: 84

Merit: 10

Quote from: Noviz on August 12, 2011, 06:22:57 PM

Because of the more expensive ticket rate, compared to BitLotto Jr, syndicate members can also purchase a 'share' of a ticket.

Tickets are split into shares. Each share is 1/10th of a ticket (so there are 10 shares per ticket). This allows members to share a whole ticket with other members... meaning more people can join in and reap the benefits of playing lotteries in syndicates.

If you have any questions, ask here or via the other contact methods on the site.
[/quote]

I have a question. What will you do about leftover partial shares. For example. 29 partial shares are purchased. That is 2 tickets & 9/10ths of 1. What will be done about the additional share? Will you just cover the cost of it & enter into the drawing and take the equivalent of the remaining shares. Or will you just return the shares to those who submitted them? Either way great stuff

Noviz

full member

Activity: 129

Merit: 100

Bitcoin main draw syndicate is now open!

http://bitcoinsreview.com/bit-syndicate/syn_bitlotto.php

Please make sure you read the 'Important, Please Read' on the page as this will explain the 'shares' process for this draw.

Quote

Because of the more expensive ticket rate, compared to BitLotto Jr, syndicate members can also purchase a 'share' of a ticket.

Tickets are split into shares. Each share is 1/10th of a ticket (so there are 10 shares per ticket). This allows members to share a whole ticket with other members... meaning more people can join in and reap the benefits of playing lotteries in syndicates.

If you have any questions, ask here or via the other contact methods on the site.

Noviz

full member

Activity: 129

Merit: 100

Just processed the first batch of tickets... totally to 27 pooled tickets!

-FaerO-

member

Activity: 84

Merit: 10

Just took another 10. So im 20 in now. Soon as you get lotto up I'll take 20 of those too

-FaerO-

Noviz

full member

Activity: 129

Merit: 100

Ok, some good news and some bad (for me anyway).

The bad news is that the festival I was going to has been cancelled because British weather is f**king stupid and it has totally flooded the fields.
The good news is that I can now monitor the syndicate over the weekend and also get the main BitLotto syndicate up and running quicker Tongue

Just to let you know we already have 17 tickets pooled! I'l be processing these shortly.

Noviz

full member

Activity: 129

Merit: 100

Quote from: -FaerO- on August 11, 2011, 04:20:59 AM

I just bought in on 10. I never got an option to enter a receiving address. Im guessing you just shoot the winnings back to the address they came from? Can someone clarify this for me

Yeah in the event that the syndicate wins the coins are sent to the address that purchased the ticket.

Konzul

newbie

Activity: 44

Merit: 0

Quote from: Noviz on August 10, 2011, 07:24:02 PM

Ok the new BitLotto Jr syndicate address for the draw of 17th August is now up. Please check the website for details.
I'm using a brand new wallet this time so it shouldn't be as confusing to track transactions.

I'll be opening the main BitLotto draw syndicate up next week now because of this festival I'm going to. I'm pretty sure I'll be using the 1/10th share method that was suggested. Check this space or the website for more details next week.

Congratulations again for everyone who won with the syndicate this week!

Awesome.. count me in for 20+ shares!

-FaerO-

member

Activity: 84

Merit: 10

I just bought in on 10. I never got an option to enter a receiving address. Im guessing you just shoot the winnings back to the address they came from? Can someone clarify this for me

Noviz

full member

Activity: 129

Merit: 100

Ok the new BitLotto Jr syndicate address for the draw of 17th August is now up. Please check the website for details.
I'm using a brand new wallet this time so it shouldn't be as confusing to track transactions.

I'll be opening the main BitLotto draw syndicate up next week now because of this festival I'm going to. I'm pretty sure I'll be using the 1/10th share method that was suggested. Check this space or the website for more details next week.

Congratulations again for everyone who won with the syndicate this week!

Noviz

full member

Activity: 129

Merit: 100

Quote from: bitlotto on August 09, 2011, 11:22:31 PM

Congratulations! Your syndicate won!!! Payment sent to address listed at bitlotto.com/jr.php

Fantastic news!
I'm processing the winnings now

They should be in participants wallets shortly.
Once that is done I'll open up for next week BitLotto Jr's draw.

In total we won 2.717 coins.
There were 13 tickets bought in the syndicate so this equates to 0.209 per ticket!

-FaerO-

member

Activity: 84

Merit: 10

This looks promising. As soon as you come back saying youre accepting payments for the next drawing Im in. I'll take 5 off the top

-FaerO-

Cory

sr. member

Activity: 288

Merit: 250

Huzzah!

TheBitMan

sr. member

Activity: 280

Merit: 250

Yea!!!

bitlotto

hero member

Activity: 672

Merit: 500

BitLotto - best odds + best payouts + cheat-proof

Congratulations! Your syndicate won!!! Payment sent to address listed at bitlotto.com/jr.php

Noviz

full member

Activity: 129

Merit: 100

Alright guys I've stopped accepting syndicate tickets now to make sure that all the tickets can get purchased on BitLotto Jr.

On an important note...
I'm going to a festival this week, from Thursday to Monday morning so please don't be alarmed if I don't reply for a few days... especially if we win

I haven't run off I'll just be sitting in a muddy field lol.

I will still run the BitLotto Jr syndicate for next weeks draw, however again don't be alarmed if I don't process the tickets till the Monday of my return. Everything should go swimmingly as Monday will allow me to purchase the syndicate tickets in time. So if you are thinking of joining in the syndicate for the next BitLotto Jr draw, don't be afraid to do so.
I will try and keep up to date using my mobile however that has limited battery.

I am probably going to use the 'shares' idea that has been suggested, especially for the main BitLotto draw anyway. However, this will have to wait until after next weeks draw as I won't be around to sort any issues out.

Anyways, everyone keep their fingers crossed and hope we win Cheesy

bitlotto

hero member

Activity: 672

Merit: 500

BitLotto - best odds + best payouts + cheat-proof

Looks like you got a few for BitLotto Jr. It will be interesting to see how many will pay for BitLotto. This weeks results should be interesting!!!!

Noviz

full member

Activity: 129

Merit: 100

Ok we have about 12 hours to buy syndicate tickets until I close it off until the draw.

Topic: Bit-Syndicate - A Bitcoin Lottery Syndicate [Restarted!!!!!] - page 2. (Read 4577 times)