I am planning to join into a wagering system since I am playing dice game real hard.
Pretty sure wagering contest is great, but I doubt that it will attract many players as it is only suitable for big bankroll players IMO. Low bankroll players is still indeed have chance to win on the contest but big bankroll players always have higher chance to win. Low bankroll players who realize about this condition will prefer not to join it as they will think that they have so small chance to win against whales.
Lottery linked to small wagering requirement is actually a great idea, my favorite, but it might harder to execute than simple 'bet more to win more'.
How the lottery tickets will be distributed? People would be asking about provably fair drawing method, can it be done?