how much would you pay for a lottery ticket?

marciks

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Quote from: Betwrong on October 04, 2018, 11:57:48 AM

I think I could have risked 25k satoshis and would buy a lottery ticket, but not before I knew:

1. The number of participants / win chance.

2. The prize amount / house edge.

3. The reputation of the lottery.

The 3rd point is the most important imo. If lottery had no reputation it would be more than likely as throwing away 25k sats.

Very good points

1 - few minuts before lotto result, it will be locked.. a list with every participant and its transaction id link will be provided so it's possible to check if all users paid for entering the game.. I think it is a good way to promote the lotto reputation (correct me if i'm wrong, please)

2 - will be provided that too from a command in telegram/discord..

3 - super important lol my next topic will be asking about this: how to increase the lotto reputation

loverets45

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Quote from: Don Pedro Dinero on October 01, 2018, 02:16:10 AM

I wouldn’t spend a penny to buy a lottery ticket unless there is an added price, which makes my buy an EV+ movement. This being said, most people want to buy lottery if they can buy cheap tickets and there is a very high price, so 5.000 sat and only one price I think would work to begin with. If the lottery became popular and you were getting important revenue you could add more prices and refunds but always bearing in mind that what attracts people to the lottery is the very tiny chance of getting that huge price.

I play twice in a month. Here in my country there are two draws in a month. I don’t want to waste my money in these draws, therefore I bet small amount of money. In these two draws I spend about $50. I never won a draw till date because the chances of winning a draw are one in 1000000. Now you can understand how difficult to win this lucky draw. I just enjoy the day.

btctalk4life

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Maybe 5000-10,000 satoshi per tickets. It's depend on how big is the prize too.

Betwrong

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I stand with Ukraine.

I think I could have risked 25k satoshis and would buy a lottery ticket, but not before I knew:

1. The number of participants / win chance.

2. The prize amount / house edge.

3. The reputation of the lottery.

The 3rd point is the most important imo. If lottery had no reputation it would be more than likely as throwing away 25k sats.

Sukut

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Activity: 392

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Quote from: maydna on October 03, 2018, 01:42:59 AM

Quote from: Sukut on October 02, 2018, 12:34:31 PM

Quote from: coinplus on October 02, 2018, 12:08:39 PM

Quote from: vintages on September 30, 2018, 06:58:29 PM

Well, for someone like me who is always careful or skeptical when I'm playing lotteries I won't want to spend anything more than between 1000-3000 Satoshi.

I would not want to go more than this either. It is always a good thing anyway to play what you can afford to lose and as least does not make it over affect your pocket. Everything is still all about luck and even if I want to put in 1sat and then luck still decides to shine on me, I would still get lucky than someone who put more than 500000sats. The highest I have ever gone on lottery was 5000sats at once, and I really do not always expect so much anyway. Even if your chances increase by getting more ticket, it still does not mean you will have it at the end of the day.

You are right, it is all about luck and I don't want to go more than 3000 Satoshi because probably I could not win.

Then you don't have to play the lottery if you don't want. You can play the other gambling games, but still, you need luck in the game so you can win the money. I think less than 5k per lotteries like I said before because it will attract people to try their luck in the games because they are hoping to get the big prizes. But always remember that only use the money you can afford, and you need to get ready when you lose.

I already prefer to gamble on other games instead of lottery but you are about to need luck in gambling, you should be lucky to win for all the games.

cleygaux

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Well it depends on the value of the jackpot prize I can pay more thousand satoshis if the reward is too good with a trusted system and cannot be manipulated by the admin of course now my questions how could we validate or test the integrity of your lotto system if it cannot be manipulated by anyone with access.

Beegovere

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Activity: 86

Merit: 1

Quote from: eternalgloom on October 02, 2018, 05:41:41 AM

Quote from: adaseb on October 02, 2018, 02:01:36 AM

In my opinion there are many who have tried the lottery/raffle way with a blockchain and they all closed down due to no interest.

The reason why is because people can just bet on dice instead.

Instead of playing the lottery where you need to wait a few weeks for the results AND usually there is a large house edge, why not just play dice.

You can just 9900x your bets and you will know in a split second whether you won "the lottery" or not.

So you can try this out but I guarantee you there won't be enough interest to generate enough funds.

Your reply is completely useless to OP, he's asking what people are willing to pay for a lottery, pretty fair question if you ask me.
Here you come along, giving a long speech about how dice is better than a lottery.

Guess what, I used to play quite a lot on the Crypto-Games lottery and it's pretty popular.
It's been successfully running for years now, so there goes your entire rant down the drain.

Besides, he's talking about a lottery on Discord, presumably for an already established Discord community that he's a part of.

OP, I went with 10k Sats, I think it's cheap enough so a lot of people can join, while still adding enough for a nice big pot in the end.
I definitely do think it's viable to make a lottery, execution is everything though.

I pay very small amount for lottery because I know that the winning chances are rare and losing chances are high. Here in my locality gamblers bought bonds numbers and try their luck after every fifteen days. After a long time a gambler win lottery but very little amount of money because if you want to win big money it is very difficult and the chances are almost zero.

kurian

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Probability of winning the lottery is very low. My personal opinion on lottery is that it is a waste of time. Even though, If I am going to participate the amount of participation would depend on the prize money.

gabmen

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Well i don't think there's really any serious chance with winning a lottery so probably 10 to 50k sats would be enough to waste on it. I'm not the type who would spend a lot of money for something that has a smaller chance than me getting hit by lightning twice.

bering

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I was never joining telegram lottery channel even if those channels really exist i think i would never interested to joining them because basically i'm not lottery fans even i almost zero value buying lottery tickets and i consider to be the winner of the particular lottery only belong to the people who have extremely lucky so since i consider such as it i would avoid lottery

maydna

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Quote from: Sukut on October 02, 2018, 12:34:31 PM

Quote from: coinplus on October 02, 2018, 12:08:39 PM

Quote from: vintages on September 30, 2018, 06:58:29 PM

Well, for someone like me who is always careful or skeptical when I'm playing lotteries I won't want to spend anything more than between 1000-3000 Satoshi.

I would not want to go more than this either. It is always a good thing anyway to play what you can afford to lose and as least does not make it over affect your pocket. Everything is still all about luck and even if I want to put in 1sat and then luck still decides to shine on me, I would still get lucky than someone who put more than 500000sats. The highest I have ever gone on lottery was 5000sats at once, and I really do not always expect so much anyway. Even if your chances increase by getting more ticket, it still does not mean you will have it at the end of the day.

You are right, it is all about luck and I don't want to go more than 3000 Satoshi because probably I could not win.

Then you don't have to play the lottery if you don't want. You can play the other gambling games, but still, you need luck in the game so you can win the money. I think less than 5k per lotteries like I said before because it will attract people to try their luck in the games because they are hoping to get the big prizes. But always remember that only use the money you can afford, and you need to get ready when you lose.

xIIImaL

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Quote from: DarkDays on October 02, 2018, 02:09:18 PM

Why not just have different amounts for different tickets? There's no reason to keep it limited to a single price if you simply adjust the odds of winning with the ticket value.

e.g. 1x 50000 Sat ticket has 10x the odds of winning as a 5k sat ticket.

I didn't tried lottery luck in online as of now. Instead of that i was used offline lottery many times as here local government accepted to used the lottery tickets s d scratch coupon with legal notice.

Why you have lottery at the cheap price in online market mate. You may list some sites to understand more about it.

Supercrypt

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Quote from: marciks on September 30, 2018, 10:42:46 AM

I'm planning to make a synchronized lottery bot between discord/telegram with some incentive for individuals or group admins who want to help to spread the word and announce the lottery.. will make a good system for transparency, without holding user funds.. big problem I found is the btc fee. other feeles coins have not enough volume as btc has so I'm studying if it is viable to make this lotto..

Isn't it depending on how much I could win as well ? I mean I am willing to spend as much as how much I can win.

If I am going to win millions of dollars if I win than I can buy more tickets whereas if I am going to make just couple thousand than I am not willing to pay that much for it, it means I do not care about the price of the ticket tbf, I care about how much I can win with it.

You can simply just make a 100 satoshi ticket and make automatic lottery that people could buy and the pot will increase, whoever wins gets all wagered (or 1-10 can win) that way you won't have to worry about promising anything beforehand.

DarkDays

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Why not just have different amounts for different tickets? There's no reason to keep it limited to a single price if you simply adjust the odds of winning with the ticket value.

e.g. 1x 50000 Sat ticket has 10x the odds of winning as a 5k sat ticket.

Sukut

full member

Activity: 392

Merit: 101

Quote from: coinplus on October 02, 2018, 12:08:39 PM

Quote from: vintages on September 30, 2018, 06:58:29 PM

Well, for someone like me who is always careful or skeptical when I'm playing lotteries I won't want to spend anything more than between 1000-3000 Satoshi.

I would not want to go more than this either. It is always a good thing anyway to play what you can afford to lose and as least does not make it over affect your pocket. Everything is still all about luck and even if I want to put in 1sat and then luck still decides to shine on me, I would still get lucky than someone who put more than 500000sats. The highest I have ever gone on lottery was 5000sats at once, and I really do not always expect so much anyway. Even if your chances increase by getting more ticket, it still does not mean you will have it at the end of the day.

You are right, it is all about luck and I don't want to go more than 3000 Satoshi because probably I could not win.

coinplus

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Quote from: vintages on September 30, 2018, 06:58:29 PM

Well, for someone like me who is always careful or skeptical when I'm playing lotteries I won't want to spend anything more than between 1000-3000 Satoshi.

I would not want to go more than this either. It is always a good thing anyway to play what you can afford to lose and as least does not make it over affect your pocket. Everything is still all about luck and even if I want to put in 1sat and then luck still decides to shine on me, I would still get lucky than someone who put more than 500000sats. The highest I have ever gone on lottery was 5000sats at once, and I really do not always expect so much anyway. Even if your chances increase by getting more ticket, it still does not mean you will have it at the end of the day.

eternalgloom

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Quote from: adaseb on October 02, 2018, 02:01:36 AM

In my opinion there are many who have tried the lottery/raffle way with a blockchain and they all closed down due to no interest.

The reason why is because people can just bet on dice instead.

Instead of playing the lottery where you need to wait a few weeks for the results AND usually there is a large house edge, why not just play dice.

You can just 9900x your bets and you will know in a split second whether you won "the lottery" or not.

So you can try this out but I guarantee you there won't be enough interest to generate enough funds.

Your reply is completely useless to OP, he's asking what people are willing to pay for a lottery, pretty fair question if you ask me.
Here you come along, giving a long speech about how dice is better than a lottery.

Guess what, I used to play quite a lot on the Crypto-Games lottery and it's pretty popular.
It's been successfully running for years now, so there goes your entire rant down the drain.

Besides, he's talking about a lottery on Discord, presumably for an already established Discord community that he's a part of.

OP, I went with 10k Sats, I think it's cheap enough so a lot of people can join, while still adding enough for a nice big pot in the end.
I definitely do think it's viable to make a lottery, execution is everything though.

adaseb

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In my opinion there are many who have tried the lottery/raffle way with a blockchain and they all closed down due to no interest.

The reason why is because people can just bet on dice instead.

Instead of playing the lottery where you need to wait a few weeks for the results AND usually there is a large house edge, why not just play dice.

You can just 9900x your bets and you will know in a split second whether you won "the lottery" or not.

So you can try this out but I guarantee you there won't be enough interest to generate enough funds.

milewilda

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Quote from: leowonderful on October 01, 2018, 05:24:04 PM

I'd personally pay 10k satoshis for a single ticket. Nice round number, and it isn't too much or too little in my eyes; I'm sure most people here would agree with me.

I also value reputation when going into something like a lottery. It would suck to win a lottery, and then never get the payout if the owner were to run with the money. A form of escrow would be important if you're starting out as a lottery site, as I personally have very little trust in a new casino offering a lottery or any form of gambling.

I also agree that you should consider offering multiple prizes to participants to attract more winners. I've started gravitating away from single-winner lotteries and towards lotteries with incremental prizes, as I've occasionally had some success in such lotteries.

Even those lottery have multiple prizes do failed up or didnt able to get players as well.The thing we dont like mostly on these kind of gambling is the duration and the chances of winning.Escrowed funds might be considerable but i didnt see such lottery site do able to do such stuff.They do hold up the funds on their own which we cant really avoid not to worry if those owners wouldnt run all of the money accumulated.
Talking on the prize of a lottery ticket 10k-20k sats would be considerable plus the network fees.

coolcoinz

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I'd probably pay 1% of the prize. Usually the prices of lottery tickets are much lower than 1%. Of course there would have to be an upper limit. For example I wouldn't pay 10 Bitcoins for the chance to win 1000. I just don't have 10 Bitcoins to risk. It's too much money for me to play with, even if the stakes and chances of winning were high.

Topic: how much would you pay for a lottery ticket? (Read 309 times)