Poll about lottery game - page 2. | Bitcointalksearch.org

Fancium

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Quote from: bitbunnny on May 28, 2020, 05:24:16 AM

The better odds, the more players will be attracted, that is logical. The question is how you can build the platforme and ensure the best for players and that everything is legitimate and trustworthy.
New platforms appear all the time but only few manage to attract and keep the players for a longer time.

Yes that's going to be tough but members like you can help us by reviewing the platform once it's released

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Fancium

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Quote from: Darker45 on May 28, 2020, 05:23:40 AM

How about each ticket has an equal winning chance? So that if a player wants to increase his/her chances of winning, he/she will buy more tickets. It is going to be his/her option based on how much he/she really needs to win or how much he/she is willing to shell out for the game. As to the odds, isn't it just a jackpot, 1st prize, and so on?

Quote from: Fancium on May 27, 2020, 11:28:08 AM

...the winner will be decided by the players itself.

What exactly do you mean by this? How would you do this?

No, we are not going to have any first, second, or third price.

We are just going to have 3 numbers displayed for the people to select, a user can select only one number and at the end of the day the number which has got less number of selections is going to win and the money on the other two numbers will be distributed to the winning number calculating the odds.

Fancium

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Quote from: Ucy on May 28, 2020, 04:44:29 AM

Probably the higher winning percentages... assuming they are cheaper(very unlikely), fool-proof and verifiable. But I guess those with higher percentages will be costlier than the lower ones... The low price alone of those with low winning % could attract more people if they are not aware of the low chances of winning.

Yes we will be keeping each ticket at 0.001 which is going to be $ 10 and the minimum winning odds of 3 with winning percentage of 33.3%

Fancium

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Quote from: ralle14 on May 28, 2020, 04:08:22 AM

The more entries allowed in the lottery the better because if there's only a few entries the prize pot would be less interesting. I also agree with stomachgrowls the number of tickets available should be increased because both sides benefit from it. The chances of winning is lowered but the participants get a bigger prize if there's more tickets and the site would get more profit as well.

We are not going to limit the number of tickets but the game takes place every 24 hours, so we will welcome any number of tickets in that time period.

Fancium

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Quote from: ?? on ??

I voted 5 and 20%, But in fact, no matter what the odds are, if players gradually find that the game is unfair, they may not continue to play anymore.

Yes that is why we want to build a transparent game where the players will be deciding the number that wins

Fancium

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Quote from: stomachgrowls on May 26, 2020, 04:42:51 PM

Quote from: Fancium on May 26, 2020, 03:42:19 AM

This for building a small lottery game accepting bitcoin as a payment

It shouldnt be a static one, odds or winning chance should vary on how much ticket you have bought in just like on what most lottery sites do apply on.

Take this as an example: https://crypto.games/lottery/bitcoin Grin

Lastly, it doesnt have any house edge.

Hope you do get some idea on what i have shown.

Yes it's quite a good game, but the winning chances increase only if I buy more tickets let's say if I buy 6 tickets I will get a chance of 28% to win, but in our game every winning ticket will have minimum odds of 3 and with zero house edge

maydna

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I give my vote to 3 and 33.3%.

But I think no matter how much the odds, people will buy the ticket because they want to be the winner. Many people don't think about the odds, the percentage, the money they use, but people see what the prizes are, how much the money they can win from the lottery. If they see the prizes are so big, they will buy more ticket because they think with having so many tickets, that can increase their chance to win the prizes.

But for people who care about the odds and the percentage, they will calculate how big their chance to win the prizes, and if they think that they don't have a chance to win, they will not buy many tickets, but they will only participate for fun.

imstillthebest

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Quote from: ?? on ??

I voted 5 and 20%, But in fact, no matter what the odds are, if players gradually find that the game is unfair, they may not continue to play anymore.

most people find lotto game unfair just because they hardly win on here . we know lotto game is hard to win

i bet this was also the reason why op is asking for odds or winning chance because he was trying to make the game more winnable . why not go for the small win chance anyway ? the higher the chance of winning the better but expect that the prize pool will be also lowered . still better than not experiencing to win at all .

Twinkledoe

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Quote from: dunfida on May 28, 2020, 07:19:12 PM

Quote from: ryzaadit on May 28, 2020, 10:59:12 AM

Quote from: Fancium on May 27, 2020, 11:28:08 AM

The thing is we are building a platform with no house edge, the winner will be decided by the players itself. we just charge a transaction fee for being a middle man

Then, how you run the business.

I believe still not enough the business would be running with the only charge from the transaction fee, cause every transaction already can be created with a cheap fee.

Unless if they do make fees that too high or deductions much more since this one doesnt have a house edge.
Answering up the question in talks on which one is better then of course the higher the percentage the better
which is 3 in 33.3% since people do know that they have higher chances of winning rather than being divided into
smaller parts.Business with no house edge will probably get their income in fees and theres no doubt with that because
theres no other way to generate profit.

So it means, it is better to have HE rather than charge high hidden fees, right? The project should be transparent as much as possible so players will have the trust to play on their platform. Of course, if you want to set-up a lottery game, somehow, you want to earn money and I guess, they are not doing this for charity. So better be honest as much as you can because people will dig your system if you are not telling the whole truth of your intentions.

dunfida

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Quote from: ryzaadit on May 28, 2020, 10:59:12 AM

Quote from: Fancium on May 27, 2020, 11:28:08 AM

The thing is we are building a platform with no house edge, the winner will be decided by the players itself. we just charge a transaction fee for being a middle man

Then, how you run the business.

I believe still not enough the business would be running with the only charge from the transaction fee, cause every transaction already can be created with a cheap fee.

Unless if they do make fees that too high or deductions much more since this one doesnt have a house edge.
Answering up the question in talks on which one is better then of course the higher the percentage the better
which is 3 in 33.3% since people do know that they have higher chances of winning rather than being divided into
smaller parts.Business with no house edge will probably get their income in fees and theres no doubt with that because
theres no other way to generate profit.

ryzaadit

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Quote from: Fancium on May 27, 2020, 11:28:08 AM

The thing is we are building a platform with no house edge, the winner will be decided by the players itself. we just charge a transaction fee for being a middle man

Then, how you run the business.

I believe still not enough the business would be running with the only charge from the transaction fee, cause every transaction already can be created with a cheap fee.

Ryker1

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Well, in my opinion, my answer is 3% and 33.3% as this is the closest to the fact that the person who plays the lottery can win. But also because playing the lottery has a 10-11% chance of winning because this gambling class has the worst chance of winning due to the mechanics of the game. But if the lottery store has many available tickets that can be sold to lottery betters the chances are they will win, --both the lottery store and the people who play it have the same benefits. Indeed, playing the lottery is one of the fun activities of its players, it can be compared to drinking water that cannot be forgotten all day.

webtricks

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Quote from: Fancium on May 27, 2020, 11:28:08 AM

The thing is we are building a platform with no house edge, the winner will be decided by the players itself. we just charge a transaction fee for being a middle man

Now this is going somewhere interesting. If you don't mind, would you like to share more details about your platform like what the format of P2P lottery and how players will pick winners among themselves?

Quote from: swogerino on May 28, 2020, 05:31:15 AM

I think that the 33.3% is a generous win ratio and I think many players may be fascinated by such a high chance percentage in a lottery game.While you may start out small as you say but based on the participation of people it may become a hit and it may turn into a big lottery.Of course you will have to adapt to changes if this happen.

But it also means only 3 players will play per game. I don't call something lottery where I can only win 3x of the ticket amount. It will be more or less gambling and there are many other games with much more interesting formats like sports bet, multiplayer dice, crash game, etc to win such odds. People buy lottery tickets to hit big jackpots. Buying ticket to win 3 times won't be fun as a lottery.

Quote from: Fundamentals Of on May 28, 2020, 08:26:26 AM

The higher the odds, the lower the winning chance. So it is somehow balanced. You will either go for a bigger prize or a higher probability of winning. That's fair.

Also, the higher the winning chance, the more expensive the ticket I assume. So the players will be torn between just taking the chance and pay for a cheaper ticket or trying to really make some money and pay for a more expensive one.

Umm! I don't see much clarity in your suggestion. It would make the game unnecessarily complicated. There cannot be multi-rates to enter same lottery. Better and easier way is to allow users to buy as many tickets as they want. Higher the number of tickets, higher the probability to win and higher the cost. Simple!

Tipstar

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It would not be exciting if there are many winners on a lottery game. The most you can go is 3 winners for every 100 participants. That's a winning odd of 3%.
And there should also be limit how much a single player be able to buy on a lottery. The game of course should be provably fair. Provably fair on lottery is much easier as you can take a simple reference of future hash for the results.

shoreno

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Quote from: Fundamentals Of on May 28, 2020, 08:26:26 AM

Quote from: bitbunnny on May 28, 2020, 05:24:16 AM

The better odds, the more players will be attracted, that is logical. The question is how you can build the platforme and ensure the best for players and that everything is legitimate and trustworthy.
New platforms appear all the time but only few manage to attract and keep the players for a longer time.

The higher the odds, the lower the winning chance. So it is somehow balanced. You will either go for a bigger prize or a higher probability of winning. That's fair.

Also, the higher the winning chance, the more expensive the ticket I assume. So the players will be torn between just taking the chance and pay for a cheaper ticket or trying to really make some money and pay for a more expensive one.

single ticket but expensive price ? this is new to me . im only thinking of the traditional lottery with fix price tickets but the only way to increase the chance of winning is to buy more quantity of tickets with different numbers pick on it but this was online so introducing new twist is still welcome . just want to say goodluck to the op for venturing the world of gambling . gambling markets are pretty competitive but still few lotto games that i saw here , so you still have a chance to shine

Lakai01

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Quote from: Vod on May 26, 2020, 05:56:53 PM

But no one will play if the game isn't provably fair. What is your plan to show that?

I agree with Vod. You can also offer odds of 99.9% in your lottery, if you don't provide a mechanism to check the outcome of the lottery, you will hardly find any players.

If you have never heard of "provably fair":

Quote

In online gambling provably fair describes an algorithm which can be analyzed and verified for fairness on the part of the service operator[...] Provably fair algorithms are often used in the operation of an online casino.

Source

(Yes I know, you shouldn't quote Wikipedia, but the paragraph sums up the meaning very well Wink

)

You can see for example here for Bustadice how "Provably Fair" works and how it was implemented.

Fundamentals Of

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Quote from: bitbunnny on May 28, 2020, 05:24:16 AM

The better odds, the more players will be attracted, that is logical. The question is how you can build the platforme and ensure the best for players and that everything is legitimate and trustworthy.
New platforms appear all the time but only few manage to attract and keep the players for a longer time.

The higher the odds, the lower the winning chance. So it is somehow balanced. You will either go for a bigger prize or a higher probability of winning. That's fair.

Also, the higher the winning chance, the more expensive the ticket I assume. So the players will be torn between just taking the chance and pay for a cheaper ticket or trying to really make some money and pay for a more expensive one.

fortunecrypto

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Quote from: Fancium on May 27, 2020, 11:28:08 AM

The thing is we are building a platform with no house edge, the winner will be decided by the players itself. we just charge a transaction fee for being a middle man

Very interesting I hope you can give us more details this, some of the lottery game are on provably fair but if you have a new algo like this one you mentioned let us have even a small information on how it's going to be run.

Distinctin

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3 and 33.3%.. that's my answer, if 3 people are playing with a total fo 33%, tat means they have at least 11% chances of winning, and in gambling regardless of what kind, more chance of winning attracts gamblers more.

Actually I am quit confuse about the question because in reality, lottery does only give a very low percentage to gamblers, lower than 1%, that's the chances of winning, and that's the reason why they can even accommodate millions of gamblers with sometimes no one wins in a single draw.

swogerino

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I think that the 33.3% is a generous win ratio and I think many players may be fascinated by such a high chance percentage in a lottery game.While you may start out small as you say but based on the participation of people it may become a hit and it may turn into a big lottery.Of course you will have to adapt to changes if this happen.

Topic: Poll about lottery game - page 2. (Read 474 times)