Lottery with a twist - page 2. | Bitcointalksearch.org

reptilee

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Quote from: bittraffic on October 06, 2023, 11:44:19 AM

Quote from: reptilee on October 06, 2023, 11:13:21 AM

Quote from: Beparanf on October 06, 2023, 11:09:39 AM

Quote from: bittraffic on October 06, 2023, 11:03:50 AM

Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.

From 36 down to?

I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users.

Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers.

When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?

it should be equal. Random winnings get worse. Nonetheless, I would stay away still. You get lucky the first time and you'll need to be lucky once again on the random selection. Do they need to once again bet $10 to increase their chances in this random selection? Why not, see if the users double down? There's another idea.

Seeing they have yet done anything means there is no plan in place. But I see this is going to be a decentralized casino?

When you are talking about the random selection, do you mean the random selection on the prize distribution?

Random selection 1 (winners)
- We select the winners

Random selection 2 (Prize distribution)
- We select randomly how much each user get from the pot

We could see if a user double's down, (I assume you mean if he won, he would have less chance in the next round?) But this would not work, because it's super easy to generate a new address, and this user will be a "new better" in the system, easy to abuse.

reptilee

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Quote from: Gozie51 on October 06, 2023, 11:40:40 AM

Quote from: reptilee on October 06, 2023, 11:13:21 AM

When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?

This is more like entry for the lottery is randomly selected which amount to lesser numbers of players from the original pool of those who signed up. Also for winners or those successful, the reward is yet going to be shared by random if I get the mechanics correctly?

So for me regards to those selected for rewards, I believe there should be a lucky deep for them assuming they have to be physically present but if online, there should be another mechanics that could get them involved like another number selection on variables available like first, 2nd , third etc, I think that would create addiction excitement rather than a monotonous contract random selection.

Yeah, let's say in this round there were 10 participants.
We select a random number between 1 to 9 accounts who will be the winner.
Then we can distribute equally, or randomly. (Not sure yet)

There's no such concept as online, because once they deposited, the smart contract handles the payout. So even if they are not online on the website, they still get the winnings distributed to their account on the blockchain.

Hispo

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I believe the biggest obstacle such idea has is the volume which would be necessary to fulfill the time requirements you are talking about.

Even in large and popular casinos lotteries are set up as weekly events or daily events, so on order for your idea to actually work, you would need to secure enough users from the beginning, so people won't have to wait too much for a smart contract settlement.

You would also need to do such thing using a Blockchain which is fast and with low fees, because if someone likes the service they will try to buy tickets several times or many times in the day.

bittraffic

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Quote from: reptilee on October 06, 2023, 11:13:21 AM

Quote from: Beparanf on October 06, 2023, 11:09:39 AM

Quote from: bittraffic on October 06, 2023, 11:03:50 AM

Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.

From 36 down to?

I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users.

Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers.

When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?

it should be equal. Random winnings get worse. Nonetheless, I would stay away still. You get lucky the first time and you'll need to be lucky once again on the random selection. Do they need to once again bet $10 to increase their chances in this random selection? Why not, see if the users double down? There's another idea.

Seeing they have yet done anything means there is no plan in place. But I see this is going to be a decentralized casino?

ice098

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Quote from: reptilee on October 06, 2023, 10:34:33 AM

Hello everyone,

I would like to hear your feedback on the following.

This will be like a raffle or lottery, but with a twist. It will be based on smart contracts. The contract works like a traditional lottery. You buy a ticket to participate, and if you're lucky, you win a share of the pot. The ticket price could be set, for example $10 worth of coins. The lottery runs in rounds, each lasting 10 minutes. At the end of each round, the pot is distributed among a random number of winners. The contract is designed to be fair and transparent. The random number generation is based on blockchain data, so it's impossible to predict or manipulate. There are also some safety measures in place. The contract owner can add funds to the pot, but they can't withdraw them. This is to prevent any potential scams or misuse of funds.

Let's say in 10 minutes, a 100 people buy tickets, $10, pot is $1000.

Then we select random winners, like 36 person.
Instead of distributing 1000/36, we will distribute randomly as well.

Any thoughts? Is there any similar projects out there?

Honestly, I think there's a similar concept to that one here in this forum. I forgot when but there's a kind of lottery that when you get the last digit in block explorer you will get a bitcoin coin in physical I also forget who that person who conducted that event. But when it comes to a lottery with a prize I think there's none as of now, it could be cool and entertaining I will participate if there's a gaming site that offer such game.

Gozie51

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Quote from: reptilee on October 06, 2023, 11:13:21 AM

When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?

This is more like entry for the lottery is randomly selected which amount to lesser numbers of players from the original pool of those who signed up. Also for winners or those successful, the reward is yet going to be shared by random if I get the mechanics correctly?

So for me regards to those selected for rewards, I believe there should be a lucky deep for them assuming they have to be physically present but if online, there should be another mechanics that could get them involved like another number selection on variables available like first, 2nd , third etc, I think that would create addiction excitement rather than a monotonous contract random selection.

reptilee

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Activity: 10

Merit: 0

Quote from: aioc on October 06, 2023, 11:11:13 AM

Quote from: reptilee on October 06, 2023, 11:04:50 AM

I see what you mean. Most people are not technical enough to see that the smart contract is not rigged. Maybe if it got audited by some reputable company, they would trust?

If it's a smart contract it should be audited I have participated in a project that did a rugpull and it has become a big lesson for me and for many of us here not to trust smart contract-based platform that is not fully audited.

Quote

But anyway another concern that I have, let's say in the 10 minute round, there was 5 participant, but a user deposited 4 times from different addresses, so he will have higher chance to win the deposit of that 1 user? Or maybe actually he takes more risk because if that 1 user is in the winner list, he could be screwed. But since the distribution is not equal, it's fine. I am thinking about this logic.

If you're serious about creating a game like that you should do a lot of testing for possible loopholes, and you need to spend money for marketing and its quite costly.

The concept of the rug pull does not apply here, because there is no liquidity pool, coin pair.
It's a contract, that is deployed. The contract handles the deposits, the rounds, and the payouts. Everything by code. It's immutable, so it can not be changed. Actually if it would become successful, new copy's would appear so fast, because it's open source, so everyone can just launch their own in the matter of seconds.

Yatsan

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The idea is quite good ‘coz in such way there’ll be more players to win on it, however this could be unfair to some especially those who are used to lottery mechanica wherein only a few if not a single individual would take all of the pot money. Bottomline is to test and see it for yourselves whether which concept would be more popular to gamblers.Given that it will use smart contract then this could be exciting to web 3.0 players. Alao not that far from the typical lottery set up or concept so I guess players won’t be having that much struggle to adjust.

reptilee

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Activity: 10

Merit: 0

Quote from: Beparanf on October 06, 2023, 11:09:39 AM

Quote from: bittraffic on October 06, 2023, 11:03:50 AM

Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.

From 36 down to?

I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users.

Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers.

When we choose the random winners, should it be distributed equally, or we put randomness on the winnings too? What would users prefer?

aioc

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Activity: 2926

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Quote from: reptilee on October 06, 2023, 11:04:50 AM

I see what you mean. Most people are not technical enough to see that the smart contract is not rigged. Maybe if it got audited by some reputable company, they would trust?

If it's a smart contract it should be audited I have participated in a project that did a rugpull and it has become a big lesson for me and for many of us here not to trust smart contract-based platform that is not fully audited.

Quote

But anyway another concern that I have, let's say in the 10 minute round, there was 5 participant, but a user deposited 4 times from different addresses, so he will have higher chance to win the deposit of that 1 user? Or maybe actually he takes more risk because if that 1 user is in the winner list, he could be screwed. But since the distribution is not equal, it's fine. I am thinking about this logic.

If you're serious about creating a game like that you should do a lot of testing for possible loopholes, and you need to spend money for marketing and its quite costly.

Beparanf

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Quote from: bittraffic on October 06, 2023, 11:03:50 AM

Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.

From 36 down to?

I believe you misunderstood his example. The prize distribution amount is being distributed in random not the quantity of the user will be countdown. Example some user will receive 500$ and so on randomly. This is both good and bad based on the reward that you will get if you are within the lucky 36 users.

Smart contract games is always a good idea for transparency issues. The only problem is it’s not popular anymore since gambler preferred games that can give result instantly and without any fees for placing bets which centralized casino offers.

reptilee

newbie

Activity: 10

Merit: 0

Quote from: coin-investor on October 06, 2023, 11:01:35 AM

Quote from: reptilee on October 06, 2023, 10:45:43 AM

Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for fees.

Maybe a good concept but since this is a PVP scheme you need to establish your reputation and promote your project to gain more players, I don't think it will gain a lot of followers, gamblers are more convenient to play on regular casinos because they are guaranteed of payment since you mention that it will run in smart contract I don't think the majority are convenient to play a game connecting their wallet in a contract.
You will have a hard time convincing people here to play without solid plan that the game will not be rigged, trust is one of the problem of newbies coming up with a game like this.

I see what you mean. Most people are not technical enough to see that the smart contract is not rigged. Maybe if it got audited by some reputable company, they would trust?

But anyway another concern that I have, let's say in the 10 minute round, there was 5 participant, but a user deposited 4 times from different addresses, so he will have higher chance to win the deposit of that 1 user? Or maybe actually he takes more risk because if that 1 user is in the winner list, he could be screwed. But since the distribution is not equal, it's fine. I am thinking about this logic.

bittraffic

hero member

Activity: 3038

Merit: 617

Godsake, the 36 users won already yet they still have to be shuffled to lose. You can really assume no one yet made something like this because the emotions of players are going to fluctuate from high and drop to zero. I would certainly avoid playing such game especially if $10 is just one entry. Not sure what others would think but I'm already one that will not join.

From 36 down to?

coin-investor

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Quote from: reptilee on October 06, 2023, 10:45:43 AM

Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for fees.

Maybe a good concept but since this is a PVP scheme you need to establish your reputation and promote your project to gain more players, I don't think it will gain a lot of followers, gamblers are more convenient to play on regular casinos because they are guaranteed of payment since you mention that it will run in smart contract I don't think the majority are convenient to play a game connecting their wallet in a contract.
You will have a hard time convincing people here to play without solid plan that the game will not be rigged, trust is one of the problem of newbies coming up with a game like this.

Yaunfitda

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Quote from: reptilee on October 06, 2023, 10:45:43 AM

Quote from: Eternad on October 06, 2023, 10:42:26 AM

Quote from: reptilee on October 06, 2023, 10:34:33 AM

Any thoughts? Is there any similar projects out there?

There’s no known lottery project here that has a mechanics like this which distribute prize on random user. It’s more on a raffle than a lottery since user is not betting on a picked numbers but rather the smart contract is just selecting entries as winner.

L0tt0.com is your nearest competitor for lotto based game. The only problem on this kind of game is every round can be useless whenever there’s no participants aside from one user who place bet compared to a regular lotto games which the casino provides prize pool for players to win with their bet. This game is more on just PVP.

Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for fees.

Yeah, I also heard this kind of projects before, maybe you have to comb this board: Project Development. And I'm not sure if we have seen a lotto project that become successful regardless of the twist or just a regular lotto game because there could be a lot of trust issues like how is it not going to be rigged or stuff like that?, specially coming from a newbie like you. But if you think that your project will be successful, then just go ahead and see if others are willing to participate in your lotto game, so best of luck to you.

reptilee

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Quote from: decodx on October 06, 2023, 10:48:48 AM

I don't like to sound pessimistic, but I don't believe there will be enough incentive for gamblers to buy tickets for such a lottery. There are just too many unknown factors. It might be more interesting if it were some sort of player-versus-player (PvP) game, where competitors battle each other. Just my thought.

The whole app would be decentralized. It means the smart contract is deployed, the source code can be read and it will be verified (green tick mark in network explorers), so basically it will live forever.
Basically to deposit, you just call the deposit function, and there will be a distribute function when the round is over. So let's say even I would create an UI for this app, but for some reason the project is abandoned, it would still live forever on the blockchain. Verified mechanics, everything is handled by smart contract, which is open source and can be verified to rule out malicious code. Actually a contract like this is super simple, so ordinary people could also check if nothing malicious is going on.

decodx

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I don't like to sound pessimistic, but I don't believe there will be enough incentive for gamblers to buy tickets for such a lottery. There are just too many unknown factors. It might be more interesting if it were some sort of player-versus-player (PvP) game, where competitors battle each other. Just my thought.

reptilee

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Quote from: Eternad on October 06, 2023, 10:42:26 AM

Quote from: reptilee on October 06, 2023, 10:34:33 AM

Any thoughts? Is there any similar projects out there?

There’s no known lottery project here that has a mechanics like this which distribute prize on random user. It’s more on a raffle than a lottery since user is not betting on a picked numbers but rather the smart contract is just selecting entries as winner.

L0tt0.com is your nearest competitor for lotto based game. The only problem on this kind of game is every round can be useless whenever there’s no participants aside from one user who place bet compared to a regular lotto games which the casino provides prize pool for players to win with their bet. This game is more on just PVP.

Yeah it's more like a PVP. Well I was trying to search but I can not find any projects like this. Maybe this system will be flawed? Anyway if there is only one participant, when the round is over, he gets his money back. Everything happens automatically. It's written in the smart contract. Only if the contract has not enough balance to pay the gas plus the user's share would be a problem. But for that, we could add a function that everyone can topup the contract's account for gas fees.

Cantsay

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Quote from: reptilee on October 06, 2023, 10:34:33 AM

Any thoughts? Is there any similar projects out there?

There should be similar projects although I’m not entirely sure, but that’s not the issue here.

The issue is; how will those that will take part in this so-called lottery be able to trust their funds with you? And how are you going to prove that the system won’t be rigged? That should be more concerning at the moment because AFAIK you’re just a newbie with no reputation whatsoever and I for one wouldn’t want to risk my money with a stranger.

Eternad

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Quote from: reptilee on October 06, 2023, 10:34:33 AM

Any thoughts? Is there any similar projects out there?

There’s no known lottery project here that has a mechanics like this which distribute prize on random user. It’s more on a raffle than a lottery since user is not betting on a picked numbers but rather the smart contract is just selecting entries as winner.

L0tt0.com is your nearest competitor for lotto based game. The only problem on this kind of game is every round can be useless whenever there’s no participants aside from one user who place bet compared to a regular lotto games which the casino provides prize pool for players to win with their bet. This game is more on just PVP.

Topic: Lottery with a twist - page 2. (Read 358 times)