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.
Topic: how much would you pay for a lottery ticket? - page 2. (Read 309 times)
Pretty good advice I heard is the 10% luckiest prize.. Second is the trust.. Will make some research on this topic.
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.
Not many would be spending much because they know finally it is a lottery and out of thousands only someone would be able to make it and chances of wining becomes very slim. Instead better at current situation to buy the crypto coin and save for future.
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..
Any advice is welcome
Any advice is welcome
Let me tell you how much I’d pay for a lottery ticket organised by a Newbie - 0.00BTC
How are you going to make people feel confident that you’re not going to take their money & run?
It will be a real lottery or just another raffle game? If it is lottery so we are playing against the house but if it is just another raffle so we are playing against other players and you as the facilitator get some percent of each draw.
Raffle wont be attractive, we have seen many sites offering raffle based game but most of them failed to survive. But if you are offering a lottery like powerball or the old dust lottery then I think you will get better result.
Raffle wont be attractive, we have seen many sites offering raffle based game but most of them failed to survive. But if you are offering a lottery like powerball or the old dust lottery then I think you will get better result.
Lottery ticket price and the wish to buy that ticket completely depends on the price money and personal risk taking capability. I would probably pay 5K SAT to 20K SAT depending on the winning price. Also the risk profile of individuals determines the value for each individual.
Secondly, what I understand that you would not have a website for such lottery, that means the organizer would not have a physical existence! That's a big no-no for me! I would not want to invest anything which doesn't have a physical existence. I would always prefer some website along with a license to run such business activities.
Lastly, just a suggestion! Don't make just one winner for each lotteries! Instead make 10% winners out of the total participants and divide the jackpot to them. As it will increase the chance of winning, it will attract more people to participate in your lottery!
Secondly, what I understand that you would not have a website for such lottery, that means the organizer would not have a physical existence! That's a big no-no for me! I would not want to invest anything which doesn't have a physical existence. I would always prefer some website along with a license to run such business activities.
Lastly, just a suggestion! Don't make just one winner for each lotteries! Instead make 10% winners out of the total participants and divide the jackpot to them. As it will increase the chance of winning, it will attract more people to participate in your lottery!
I agree that the price should depend on the prize, and it should be more winners, but I want to be more focus on the problem why there wasn't many lottery event, it was because people were concerned about the transparency system of drawing, the trust level of lottery was really low, the interest level was also low, you need to build some trust before you can create a lottery game, when you said you want to be as transparent as possible people will question your method, and your answered will be the key to gain trust and make the lottery event become successful
Lottery ticket price and the wish to buy that ticket completely depends on the price money and personal risk taking capability. I would probably pay 5K SAT to 20K SAT depending on the winning price. Also the risk profile of individuals determines the value for each individual.
Secondly, what I understand that you would not have a website for such lottery, that means the organizer would not have a physical existence! That's a big no-no for me! I would not want to invest anything which doesn't have a physical existence. I would always prefer some website along with a license to run such business activities.
Lastly, just a suggestion! Don't make just one winner for each lotteries! Instead make 10% winners out of the total participants and divide the jackpot to them. As it will increase the chance of winning, it will attract more people to participate in your lottery!
Secondly, what I understand that you would not have a website for such lottery, that means the organizer would not have a physical existence! That's a big no-no for me! I would not want to invest anything which doesn't have a physical existence. I would always prefer some website along with a license to run such business activities.
Lastly, just a suggestion! Don't make just one winner for each lotteries! Instead make 10% winners out of the total participants and divide the jackpot to them. As it will increase the chance of winning, it will attract more people to participate in your lottery!
I think 5.000 satoshi per lottery ticket + bitcoin fee is good for a start and I think it makes sense and maybe you can add a big prize for the winner. For the fee, I think it depends on each wallet we used because I see there is any different fee that we should pay for each wallet. But I leave the lottery game since I don't have any good experience to win in that game, maybe the other people will get their luck work on this game.
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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.
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.
2000 sats is non sense at all.. just removed it.. zero means that user would not play a telegram/discord lottery
Why make a poll for this and have the 2000 k Satoshi as a minimum thing to pick, Worst case even put zero in it, What if I just want a cheaper price for a fee to have a ticket? I really think it is not an option to really put that amount and a fee price would be a minimum of 10k Sats, if that is what the prefer fee price, But in my opinion, I really think that 25k to 30k Satoshi should be reasonable for a starting price of the ticket and for the fee I am sure that the gambler will not mind the fees at all if they can have a chance in winning a lot of money from this, So they will play on their hearts content.
For a lottery ticket, it depends on the prize if you have a big lottery prize I think 15ksat to 25ksat BTC would be enough.
For the fee, it depends on the network but you can check the recommended fees regularly from this link https://bitcoinfees.earn.com/
For some website the default is 10k sat so you can recommend the 10ksat as a fee.
For the fee, it depends on the network but you can check the recommended fees regularly from this link https://bitcoinfees.earn.com/
For some website the default is 10k sat so you can recommend the 10ksat as a fee.
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..
Any advice is welcome
Any advice is welcome
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