How does this become a zero loss? Do I get refunded for the tickets I bought for the pool after the 15-day period and the winner has been drawn?
I failed to write it in the inital post, and if I can edit it I will.
But what pretty much happens is that you buy tickets, if you lose --> You don't really lose, as you just lost 'winning' the interest accrued by the pool for the month. Your initial deposit is returned to you by a smart contract on the ETH network.
There's some new sites in the space that run on smart contracts on ETH, such as no loss lotteries where peoples DAI (a decentralized stablecoin pegged to 1 USD) is pooled together and then lent out on compound finance.
At the end of the pool (usually 15 days) The interest that has been generated by the pool is paid out to one lucky winner. Your chance of winning increases as you buy more tickets to the pool.
Here's the link to the project in question, but I do want to know if this is something that people are interested in -->
https://www.pooltogether.us/And our bet amount will be returned to every player?
If I understand this right its something kind of ponzi so we will be scammed at end.
Only way this would be able to be a 'scam' would be if this was centralized or there was an ability for the code to be altered, while in motion, by a rogue developer or something along those lines. I doubt that could the case, as people can go and review the code right now -- and I think there MIGHT be some outside groups that have viewed it.
Something cool to try is all, rather then just losing tons of money on traditional gambling.
