-=[ High Stakes Bitcoin Raffle Lottery | Limited Tickets | Good Winning Odds | No House Edge | Progressive Jackpot | Provably Fair ]=-
-=[ Game #1 | Round: 2nd | Escrow: Available | Current Jackpot: 4.0001 BTC | Status: Over ]=-
High Stakes Bitcoin Raffle Lottery 64 Number Character Alphanumeric Secret, the SHA-256 Hash is:
aec6a9ff8b868f3065face8de389a1f76b03dbda7af4e621a3d9aac97aeb199cBitcoin address for the current raffle:
1KCSsL7rRHH6qkRS5wSwWuzAcZ7zNYnNDgDeadline: 1st confirmation (blockchain) of the 10th bet of .1 BTC sent to the address shown above.
Entry ticket price (bet):
.1 BTC (ten bitcents)-=[ What is this all about? ]=-
This is an experiment (that evolved from the essay that is shown here:
https://bitcointalksearch.org/topic/idea-ev-positive-expected-value-p2p-raffle-games-peerbet-style-409660) in order to study the effects of a game that is:
* Anonymous;
* Raffle lotto using bitcoins - Always a Winner;
* Transparent;
* Instant play (No Registration Required);
* Provably Fair (cheat proof);
* Cryptographically Verifiable;
* Blockchain Spamless...
and also:
* Limited tickets: people get better winning odds and probabilities;
* Progressive jackpots: "house tickets" win the game (some times) and roll over all the current jackpot to fill next round or game;
* The game becomes +EV for gamblers to play sometimes.
* and much more...
About Provably Fairness:
By using bitcoins for raffles several unique features are possible:
* The players identities are unknown but all the tickets are known;
* Every ticket purchased can be viewed by everyone along with the senders bitcoin address;
* Each ticket is permanent and can't be altered because it is stored inside the blockchain;
* The pot size can not be faked as anyone can check the lottery address and verify it;
Most importantly, it's impossible to manipulate who wins or fake a payment to the wrong person because:
* Each ticket has a unique number that is permanent (transaction hash);
* Using some block data and hashing with SHA-256;
* The transaction hashes stored in the blockchain are then used to calculate the winner in an impossible to predict way;
* A secret known only by me is hashed and published so I can not change the secret later;
* The secret is then published after the deadline;
* The winnings are then sent to the EXACT same address that bought the ticket.
All of this can be monitored and verified by anyone and is recorded in the blockchain.
-=[ How to play this Raffle Lotto? ]=-
To buy one ticket, send the exact amount of .1 BTC (ten bitcents) to the bitcoin address shown above.
P.s: you may use the following bitcoin wallet software: Bitcoin-Qt; Electrum; Armory; MultiBit; Hive. For web wallets we recommend only using Blockchain.
DO NOT use wallets from exchanges nor any shared wallets such as localbitcoins, mining addresses etc.
The prize will be sent to the same address that previously sent the coins from (in order to avoid fraud). If sent from more than one address, the prize will be sent to one of them.
All payments received prior to deadline is part of the raffle's jackpot.
Payments sent after that deadline will be refunded to the same original sent address (a tx fee of .0001 BTC will be deducted) after the draw.
-=[ Technical and operational details ]=-
This game consists of 4 rounds;
Current entry bet is .1 BTC (ten bitcents);
There are Limited tickets: 10 tickets currently. Players get better winning odds and probabilities;
Max number of players tickets: 10 (ten).
There are "House Tickets" and Progressive jackpots: "house tickets" win the game (some times) and roll over all the current round's jackpot to fill next round or game. House tickets never get the prize just roll it over to next round's jackpot.
1st round: there are 5 house tickets - Total tickets (players + house) = 15;
2nd round: there are 3 house tickets - Total tickets (players + house) = 13;
3rd round: there is 2 house ticket - Total tickets (players + house) = 12;
4th round: no house ticket available - Total tickets (only players) = 10.
P.s.: all house tickets are created hashing pre generated secrets with High Stakes Bitcoin Raffle Lottery secret and the following/next secret revealed at
"Little Bit at a Time" right after the tenth (last before draw) ticket bought (and confirmed) here. You can verify their fairness too. Those tickets' secrets are not generated as transactions but you may see and verify all of them (SHA-256 hashed) here:
http://pastebin.com/duibPqdBIf a player's ticket is chosen instead of a house ticket in any round, the prize is paid to that player and the raffle starts from 1st round.
Drawing: after the draw all tickets and their hashes will be posted along with the winner.
The player will have the secret by then and will be able to compute for his own ticket.
Here goes how I will compute your hashes - and you'll be able to verify it by yourselves:
1. Get your Transaction ID;
2. Get the secret revealed here for each round;
3. Get the secret revealed at lbaat.net (and published here afterwards) for each round;
4. Concatenate them (generating the tickets) and Hash them together (TXID&SECRET1&SECRET2) as one string;
5. Sort the hashes;
The winner is the hash with the lowest value (starts with the lowest numbers left-to-right).
Secrets to be used:
High Stakes Bitcoin Raffle Lottery 64 Character Alphanumeric Secret: the SHA-256 Hash is shown above;
"Little Bit at a Time" Secret: will be the following secret revealed at
https://lbaat.net right after the tenth (last before draw) ticket bought (and confirmed at blockchain) here. I.e.: next secret shown after last valid entry ticket bought by player. The reference moment will be taken from tx time at blockchain.info.
They publish one secret every hour, and each one is the hash of the next one. All previous secrets are shown at the following URL:
https://lbaat.net/secretsi.e.: If you send .1 BTC and bought one ticket then I will take your transaction ID and replicate the process described above.
If you send .1, then your transaction id is used like this:
sha256sum(TXIDSECRET1SECRET2)
Where:
TXID = transaction id in hex as it appears in bitcoin-qt or blockchain;
SECRET1 = High Stakes Bitcoin Raffle Lottery secret;
SECRET2 = "Little Bit at a Time" Secret;
* The winner is the hash with the lowest value (starts with the lowest numbers left-to-right);
* Payout: 85% of Jackpot (after House Rake deduction);
* House Rake (% of pot): 1st Round = 0; 2nd Round = .5%; 3rd Round = 1%; 4th Round = 2%;
-=[ Frequently Asked Questions - FAQ ]=-
What's with all the secrets?Their reason to be is to be Provably Fair and Cheat Proof. I have one secret and there is a secret that is generated from someone else (that I don't know what will it be). All secrets are verifiable after they are published. All secrets from this raffle game are available on the list (SHA-256 hashed) as seen here:
http://pastebin.com/NMgAZkLKHow much is the payout?The total prize funds is allocated as follows:
85% (after House Rake deduction) of the funds goes to the current jackpot. This is what the winner receives (minus tx fee).
The remaining funds (~15%) goes to the next jackpot, for the next round and is used any bitcoin transaction fees.
Just some reminders:
1. If you don't like the rules, don't play it;
2. I'm gonna do all the hashing manually;
3. Games start with 15% of whatever amount the previous game had;
4. If I change or update the rules, they will take effect right on the next game after publishing the changes. It will not affect the current game nor it's 4 rounds;
Although I said you can send from multiple addresses, as that's how bitcoin works, I would prefer you send your bet from a single one.
What is the purpose of the 85% / 15% deal?There are two purposes for this.
1. To ensure that the next game/round starts with something;
2. To prevent someone from attempting to buy all the tickets. You can actually buy 100% of them, but the prize you'll get is only 85%.
How much is the House Edge?There is no house edge! This is like a Peer-to-Peer (P2P) game (as Poker). There is only (a small) house rake for each and every round (except 1st round).
Why is the house rake so small? Are you a scammer? Because this is an experiment and I'm not in for the coins. I'm in for studying the statistical and mathematical behavior and effects of this experiment. That's why the house rake is that small, just to afford the costs of running this experiment. And no! I am not a scammer that's going to run away with your coins!
What are my winning probabilities for each round?For one single ticket the winning probabilities are:
1st Round = 1/15 = ~6.7%
2nd Round = 1/13 = ~7.7%
3rd Round = 1/12 = ~8.3%
4th Round = 1/10 = 10%
Will there be another game after this one?Yes. As soon as all tickets are bought I'll draw, send the coins to the winner, roll the pot over and start a new round or game. You just need to follow this topic.
What if this forum goes offline?If bitcointalk goes offline for more than 48h I'll refund all coins sent to the current round. Otherwise the game goes on.
Is there no deadline for each game/round?There is. But it's not measured in time. It's measured in actions: it is set after the 1st confirmation (at blockchain) of the 10th bet of .1 BTC sent to the address shown above (last valid entry ticket bought by player).
How is the refund policy?Payments sent after the deadline will be refunded to the same original sent address (a tx fee of .0001 BTC will be deducted) after the draw.
P.s.: all sent amount different than the multiple of one entry ticket price (.1 BTC) will be considered as donation to the jackpot (not generating additional tickets) and won't be available for refund anymore.
What happens if we don't get enough ticket buyers?In that specific case all tickets bought will be refunded to the same original sent address (a tx fee of .0001 BTC will be deducted).
Is there any escrow to guarantee the refund of my tickets?Yes, there is. See detailed info here:
https://bitcointalksearch.org/topic/m.6182165I wanna buy two or more tickets. May I buy all of them in one single transaction?I ask you not to do it in one transaction because it changes the hash calculation method. But if you (stubbornly) still do it, I'll have to add numbers to you transaction id hash in order to generate the tickets.
i.e.: you buy 5 tickets with one single transaction and you get a hash transaction of "TXID". Then I'll add the numbers of tickets bought by you after it.
TXID01; TXID02; TXID03; TXID04 and TXID05.
When hashing (draw): sha256sum(
TXID00SECRET1SECRET2)
Can I send a HUGE amount of coins in order to buy tickets and join as many games and rounds as possible?Please do not do it. Every game (consisting of 4 rounds or less) will be running with a different bitcoin address.
Is every process automated?No. In fact it's all manually performed.
How do you generate the house tickets?Almost the same way it's done for players' tickets. All house tickets are created hashing pre generated secrets with the High Stakes Bitcoin Raffle Lottery Secret and the "Little Bit at a Time" Secret set for each round and revealed after all draws. You can verify their fairness too. Those tickets' secrets are not generated as transactions but you may see and verify all of them (SHA-256 hashed) here:
http://pastebin.com/duibPqdBVerifying: sha256sum(HOUSETICKETSECRETSECRET1SECRET2)
Where:
HOUSETICKETSECRET = pre generated secrets. Those tickets' secrets are not generated as transactions but you may see and verify all of them (SHA-256 hashed) here:
http://pastebin.com/duibPqdBSECRET1 = High Stakes Bitcoin Raffle Lottery secret;
SECRET2 = "Little Bit at a Time" Secret.
Do you have a website for this game?Not yet. This is an experiment, a (almost academic) case study and a work in progress. It's not a priority yet.
I have a doubt that is not listed here!Feel free to ask me so!
P.s.: I wanna thank forum member
Dabs for the support (this raffle game evolved from his
"Low Hash Lotto" and some notes have been taken from his original ideas and texts) and all members from the community as well for the positive feedback. Thank you so much!
So, lets have some fun!
