Thank you for all your comments since our initial posting. We have had a lot of emails and also a number of attempts to purchase tickets via the entry page. These tickets sales will obviously not be fulfilled at this time as the draw doesn't open until 00:00 UTC 1st May, but we realise the ticket page perhaps wasn't clear enough and have added a bold notification of when tickets can be purchased. Apologies for any confusion on that.
In other comments made via email and here, yes of course we are making some profit from the draw after covering costs - that is how we are operating it, and we are planning to operate further bitcoin draws in the future (although this will be our one and only Lamborghini offering). We have set a profit margin that we feel is reasonable for the costs and logistics involved and yet also offers players a very fair margin of winning, as some have already calculated from ticket numbers against prize cost/overheads. We would add, however, that our profit margin is not as simple as number of ticket sales x cost of ticket vs cost of the car. Operating costs, especially with the logistics involved for a prize draw such as this one, are more substantial than may be imagined.
There is some concern about the scenario where the allocation of 21,000 tickets are not fully sold, along with the length of time the ticket sale for the draw will operate. Valid points, and we will be making additions to the website to cover this over the next few days.
Firstly, from our own experience in this sector and market testing earlier this year, along with the early positive response to the website, we are anticipating a swift and complete sale rather than the opposite. The referral system in particular has proven popular at all stages. In the event however of this not happening, we have a small 'buffer' number that the ticket sale can still be closed at. In the extremely unlikely event that the sale still does not succeed in reaching this number, then all tickets will be voided and funds will be returned to the wallet address they were made from. All funds from ticket purchases are held in separate addresses by player, easily visible on the blockchain, and this group of addresses are effectively 'escrowed' and are not touched unless a) All tickets are sold whereupon the funds are utilised for the prize, or b) The unlikely event of the draw being cancelled, whereupon the transactions are reversed to the addresses they came from.
In terms of ticket sale duration, we have to be guided up to a point by the rate of ticket sales over time, but rest assured this sale will not be entirely open-ended, nor indeed run for months or anything like that. It will be fairly easy to judge early on how long it is likely to take to complete the sale of tickets, and we will keep everyone updated on progress via email, posts on here and other places we are active, or players can check for themselves via the ticket sale progress bar on the front of the site.
We hope this post addresses some of the key points made to us since we opened the website and announced this groundbreaking prize draw. We are honestly as excited to be running this as the players are indicating they are to be taking part in it! If you have emailed us and are still waiting for a reply, please be patient as we are answering in the order they are sent and we promise to get back to you asap. Further updates to come, and the advertising and marketing are being ramped up after the weekend too as we approach the ticket sales opening up on Wednesday 1st May. Any further queries, do let us know, as we wish to be as transparent and communicative at all stages of the process as possible. Thank you.
Win The Dream - LamboForBitcoin
you havent answered any of my questions, i wonder why hmmm In other comments made via email and here, yes of course we are making some profit from the draw after covering costs - that is how we are operating it, and we are planning to operate further bitcoin draws in the future (although this will be our one and only Lamborghini offering). We have set a profit margin that we feel is reasonable for the costs and logistics involved and yet also offers players a very fair margin of winning, as some have already calculated from ticket numbers against prize cost/overheads. We would add, however, that our profit margin is not as simple as number of ticket sales x cost of ticket vs cost of the car. Operating costs, especially with the logistics involved for a prize draw such as this one, are more substantial than may be imagined.
There is some concern about the scenario where the allocation of 21,000 tickets are not fully sold, along with the length of time the ticket sale for the draw will operate. Valid points, and we will be making additions to the website to cover this over the next few days.
Firstly, from our own experience in this sector and market testing earlier this year, along with the early positive response to the website, we are anticipating a swift and complete sale rather than the opposite. The referral system in particular has proven popular at all stages. In the event however of this not happening, we have a small 'buffer' number that the ticket sale can still be closed at. In the extremely unlikely event that the sale still does not succeed in reaching this number, then all tickets will be voided and funds will be returned to the wallet address they were made from. All funds from ticket purchases are held in separate addresses by player, easily visible on the blockchain, and this group of addresses are effectively 'escrowed' and are not touched unless a) All tickets are sold whereupon the funds are utilised for the prize, or b) The unlikely event of the draw being cancelled, whereupon the transactions are reversed to the addresses they came from.
In terms of ticket sale duration, we have to be guided up to a point by the rate of ticket sales over time, but rest assured this sale will not be entirely open-ended, nor indeed run for months or anything like that. It will be fairly easy to judge early on how long it is likely to take to complete the sale of tickets, and we will keep everyone updated on progress via email, posts on here and other places we are active, or players can check for themselves via the ticket sale progress bar on the front of the site.
We hope this post addresses some of the key points made to us since we opened the website and announced this groundbreaking prize draw. We are honestly as excited to be running this as the players are indicating they are to be taking part in it! If you have emailed us and are still waiting for a reply, please be patient as we are answering in the order they are sent and we promise to get back to you asap. Further updates to come, and the advertising and marketing are being ramped up after the weekend too as we approach the ticket sales opening up on Wednesday 1st May. Any further queries, do let us know, as we wish to be as transparent and communicative at all stages of the process as possible. Thank you.
Win The Dream - LamboForBitcoin
