Topic: Let's Create a Bitcoin Lottery! (Read 879 times)

People are not interested into lotteries on this forum, few days ago we had very good site about this but winning chance is very low, that is the reason so many people are afraid to send  some amount to the jackpot pool, only one person would get the whole amount and the rest will have nothing.

great idea of lottery to get money .
i think i would be better option for the statrter of this plan . i think anyone can bet with this amount of 0.0001 btc and get 0.1 btc .
since it can be a gambling category . but a great way to get many for lucky bitcoiner .
overall i will say admin of this game will became rich and other will became its opposite .

I don't think the odds are the problem. In a "normal" lottery, (most) people don't even know the odds. They also don't know the house edge (which is huge!). All they care about, is how high the jackpot is. If it's $300 million, people buy much more tickets than when it's $3 million, even though the odds are much worse.
For Bitcoin, there aren't enough users to make a huge pot, and you won't get enough users without the huge pot.

The problem with lottery is there is not enough interest, like people have said, but people haven't really listed reasons why it's not popular so perhaps you'd like to hear them for further clarification;

-It's simply not fast enough. In real life you have casual players who just perhaps will deposit $2 in hopes of randomly winning, but with Bitcoin betting you have people trying to get rich quick, betting quickly with bots or manually. That's why dice is so popular in the Bitcoin community, it's simple and fast.

-The odds are too low. Like I was saying in my previous point, people betting with Bitcoin want to get rich quick and simply don't see these odds very attractive.

Due to these reasons, there is a lack of interest; a successful Bitcoin lottery site will probably not be able to operate.

There were many people tried the same with you, even a trusted member on this forum have tried it but most of them failed to get enough participants because lottery is not a popular game on bitcoin gambling industry.
But if you want yo play lottery so you can try brakoo or jackbitpot, those two sites are good enough imho.

There are already lottery site which is newly created. This is the first ever lottery site. Why want to create another one if there is existing one? You got some trust issues. I guess you must get rid of that before promoting a business or everything you want to promote because no one will trust with a negative trust.

You dont need to start lottery with reputation for promoting and making a lottery. If you want people to trust you better to escrow first your bitcoin in your lottery try to find escrow like lutpin yahoo or any escrow service here in our forum. so that people can tryust you and you need a promotion for your lottery to see by many people here..

Gambling is already here, we've got a BIG list of gamblers even on this forum and nobody can stop it.

Gambling is present wherever currencies are, it's something we've got used to now. People like risking their money, their stuff. Casinos are making 95 people poor, some of them even homeless while making 5 rich. It's always a win for the House.

there are so much online lottery's, casinos with lottery and fiat lottery I am not sure you will get much people if you start lottery. First you need to prove that you are legit, than after some time you need people to start trusting you, its lots of work. And in casinos i don't see much users are paying lottery

first of all i doubt that anyone would like to play a bitcoin lottery just because there are a lot of lotteries for fiat so people would choose those instead

Ahh yes! I remember that! Used to be an avid player in Rollin.io, I think I'll partake in that, thank you poster!

I've been involved in a Bitcoin Lottery recently, so I'd like to share my experiences.
The Lottery is ran by a Bot in rollin Chatter Box. I've explained the details on my blog: RollinGames.

Short summary: 1 mBTC is the minimum amount to buy 10 Tickets, 1 winner takes all. Later we may change it to a few prizes, depending on how popular it gets.
It has zero house edge, and (as a promo) often a bonus in the pot, which makes it EV+.
It is possible to donate tickets to other users, and there's also a Ticket giveaway ran by me here on Bitcointalk.

The lowest prize was 5 mBTC, the highest prize was 298 mBTC.

Since it's run by a Bot made by a Mod in a Bitcoin casino, it doesn't need to have a house edge, being a promo is enough. If it ever gets very big we can see how to go from there, but that's not the goal.
When Lottery closes, it waits for 2 new Bitcoin blocks to be found. The hashes are used as inputs for a random number. It's been running for about 2 months now, the aim is to be provably fair, and we welcome anyone to challenge the current implementation. So far that hasn't happened.

Indeed, a Lottery doesn't have the appeal of for instance gambling. It's great fun to watch in a Chat though, but only as something that runs on the side.

Do you mean a fixed pot and an unknown number of tickets? That could be very interesting, but I think you'll be losing money when you try it.

Beg to differ, Satoshimines, Rollin.io, Yobit Dice, these are only a few of hundreds a sites that require no age verification at all; all accessible through the US. Sorry we're getting off topic here.

well..
google:  Satoshi Dice permanently blocked US players in May 2013 citing potential legal concern.

satoshi dice never handles dollars. never hosted the site in america, the company brand and records were not registered in america, they didnt even ask for user identification.. but still.. legal concerns..

so yes.. you will get headaches from america.
you dont have to ask for ID, but if a U.S agent/resident simply used your service(even without ID) it automatically brings your service into american jurisdiction because americans are able to gamble via your service

so pretending there are not legalities to worry about now, will cause you headaches later by not protecting yourself from then before you even begin

Not too much concerned about the "cut" I get; I've given away over 0.125 BTC on these forums in several giveaways, if there would be any excess it would go into the next pot, legalities? I'm sorry but this is bitcoin, no one is going to care enough to be 'oh wait that forum user is he 18?' nor are they going to have enough personal information on the user to actually find out who they are, there is so much underage gambling going on in the bitcoin world. I could see it either being popular or not as people would have to pay and it wouldn't be free, this is an idea I've had long before the past 2 hours, just never really saw it as a possibility until after how much publicity this recent 1000 BTC giveaway is getting. Anyways this is in discussion meaning this is all hypothetical, if I was really blindly thinking about doing it and making a pretty penny I would've blindly done it instead of posting the idea here.

Edit: Sorry posted this before you made your edited changes; sorry for being so aggressive/defensive.

2 different people replied in 2 hours? thats without people risking any funds. as for people willing to play.. not yet seen one person pleading you to make it.

for now, think of other less risky ways to do it as your excitement and rush to want to make it after only 2 hours of thinking of it seems more about you wanting to take a nice cut out of the combined pot and less about legalities, popularity and function

if your desire is to make some profit from doing somthing bitcoin related:
find products you can buy for wholesale/at cost and sell them for profit

if your a coder, freelance your skills to other bitcoin businesses. gain your rep as a coder which will help you later when you want to do something independently

if you have any other skills find a way to sale your abilities

start a local meetup where people pay you 0.01 ($6) and they get a cup of coffee/beer and a sandwich and get to talk about bitcoin with other people in your area.

if you have a large pool of people turning up, start some bitcoin events

there are many ways to make money in bitcoin without any legal headaches in regards to gambling regulations or trust issues of being an escrow and having to handle all the complaints of people thinking your system is rigged

True; but there are a lot more people on the forums now then there were 2 years ago, and you're right the place for such a topic is kind of at the back end of the forum, but with this whole scammy 1000 BTC thing going on and seeing how much attention it's received in such little time, idk makes me think something like that might actually get popular.

There used to be a lottery a few years back, if I remember correctly, that ended up closing because there weren't many players around. There was also PevPot which was sold recently and seems to be unavailable now. If there's someone here capable of doing a trustworthy game like this, with the ability of randomly generating a winner and with a way to verify that the process was random is RHavar. My biggest doubt is if there is public for such a game.

Ahh true money does terrible things to people's integrity.. May look into setting one up but using a legendary member as an escrow along with some other form of proof to prove that the random ticket that was chosen was random; which would be pretty hard to do.. still it'd be kinda fun and I'm sure some people would get a kick out of it.

sorry but lotteries are to make many people a little bit more poorer to make one person rich.. kind of the opposite of what bitcoin was invented for.

also services like satoshi dice got into alot of hot water for operating "gambling" service. so to many others.

its not only the trust of the middleman holding the funds. but also proving the winner is not also the middleman using a different address to pay himself.

Hey guys just a thought; what if there were a way to create a bitcoin lottery? Like have an address signed for 0.1 and have people pay 0.0001 to like have one ticket in the lottery to a separate address? Cool idea? Obviously I couldn't do it due to my low ranking and my trust as it is; but maybe a senior member or a legendary member could start that with even bigger amounts such as 1 BTC? I would if I had enough rep on the forums; maybe someone should start that?