Topic: POWERBALL ON BITCOIN - Uses Real Powerball Drawings, 100% Verifiable (Read 414 times)

Hi,

I have to register to reply to this, been watching so long. Why don't you just use traditional payout system like the power ball do like below table (A), and to make sure there are winners for top prizes, just down escalating like in table (B). You ensure your house edge, and players wins are also ensured.

I agree with that, most of the lottery system will do this way just to get enough balance to start giving the payout as well. Lottery site is really easy to build because you just need a good marketing to have more players without having any real money on it. You just wait until people losing and claim their money to give others payout. And when suddenly big winners coming they will delay their payout until they can't afford it and scam it anyway

well,this is the right way to do it
there are questions still as to how are you planning to pay the jackpot if it hits
but at least this lottery makes sense now
doesn't mean that it is going to be any popular,though,do not get me wrong-
you have to be a real marketing genius to make it work

So we have decided we are changing our payouts so that we can payout every single prize lvl now.

Here is the new Prizes:
Our New Jackpot will be $2000 or 0.3BTC, the jackpot is still Variable, so if there is more then 0.3BTC for the Jackpot, then that is the new Jackpot Amount.



We will be altering all our payout information soon on the website and other sources. These new payouts take effect this Sunday after Saturdays drawing which uses the old payout structure.

We also will be moving funds to our address to cover the new payouts.

I wasnt expecting that op do still trying to say up such things which is not relevant on what we are asking.I had said by insights already but im still surprised that he didnt even bother to answer on where most people do concern about this one. He do run a lottery game and putting up very huge jackpots but only a presumption because he didnt even have the sufficient bankroll to pay-up people. He do expect that no one would ever win until he accumulate such amount but what if theres someone do hit up the spot? what would be the excuse they would say?

exactly,you seriously consider anyone will play a game that is relying on the jackpot to never hit?
your payment structure doesn't matter as soon as you cannot cover the top prize
if your payment structure was like 1$ for 2 numbers ....  250$ jackpot (the money you say you currently have)
this is the right way to run such a lottery,but of course,you think that "win 100000 bitcoins" is too good a marketing slogan
and people will que to buy your tickets,take your time and scroll down the pages in gambling,projects sections
there are dozens of failed lotteries like this,please do not create yet another one-not going to work

You are completely missing the point here. The issue isn't how your prizes are structured, the issue is you can't afford to pay any winners. As soon as someone does win, you admit that you are relying on using future investors' funds to pay them off. That's pretty much a Ponzi scheme.

in reply to veleten:
The site itself took around a day but the system behind it all took much longer, probably a couple months since we went through various changes in the game until we landed on the current system. Its currently at around 1400 lines of PHP. This is everything from Getting the Transactions, Processing each Transaction and putting them in a DB, Generating the ticket/ or tickets for each transaction and Finally processing the Payouts.


in reply to CryptoGamblingSites:
This is and never will be part of an ICO, were not trying to create a Lotto coin or something. It is meant to operate solely on Bitcoin for now. We may expand it in the future to work on other coins such as Ethereum, Bitcoin Cash, Litecoin etc.. but for now it only uses Bitcoin.


We think it may help if we explain a little more how our exact payment system works. Each Ticket has a percentage of it alotted to each prize lvl. To get the total money alotted to a prize lvl, just take the total money in the Address multiplied by the Percentage for that prize lvl.

If there happens to be more winners then prize money available for that lvl, they will be paid out evenly over multiple drawings, so the first payout to each winner = Alotted Prize lvl funds / Winners(including past winners not yet paid in full). Then every drawing after, that same formula is used until each winner is paid in full.


Explanation of below information:
prize lvl, PB + Num of WB's , Odds to win , Prize in USD  ,  Prize in BTC , How much of each ticket is alotted to this Prize LVL





The Last 45% is retained for future drawings.
Finally 5% is the amount we retain

The reason the percentage to the jackpot is so low is simply due to the fact it is so extremely rare. By the time someone wins, their is almost guaranteedto be enough to pay the jackpot winner out the 750 BTC, and in the event someone wins before that, It is statistically pretty much guaranteed we could pay out a substantial amount of BTC as a 1st payment.


OR


What would you guys think about us changing the Payouts. Below is our current idea for payouts where we currently hold enough USD to pay every single payout up to the Jackpot. If we decide to go ahead with these changes, we will transfer to the Lotto Address and provide a signed message proving we own it and have the funds.

Keep in mind the Jackpot will still be variable, just the minimum will now be $5000. If we eventually gain enough users to support a higher minimum, we then change it at that time.



So we hope this helps and are looking forward to input on these proposed changes or if we should keep it the way it is.

There will be an ICO if there are any winners, then people can invest in the lottery that everyone will play. EZ Money.

Tokens start at 1BTC and only 800 spots will be available to invest

With just having this kind of statement this do already prove that this is already shady website because they can assure payments if someone do hits up the jackpot on a short time.Accumulating 750 wouldnt be a joke and it do needs time or even not achievable even up to number of years due to the thing that lottery doesnt have any strong demand.
You already admitted about sites balance this do already proves everything. So Beware

I love when people create a site in under a day and claim they created a blockchain powerball game
the only difference that they only have 250$ and will not pay you if you win
other than that-a fantastic idea  
if I only got a satoshi for every lottery or sweepstakes site that failed

Quoted for references and archived
Obviously owner is only waiting for ticket buyers to get the funds in case there is a big win. In other words, there will be no payments once someone big and there is not enough people interested to buy the lottery tickets.

It currently has one pretty obvious point of failure - you do not have the funds to pay out to anybody who wins. Given that that is the entire point of a lottery, I'd say that's a pretty big failure.

In comparison to the actual Powerball, our non-Jackpot prizes are higher, we wanted the more common prizes to have higher payouts at the cost of a lower jackpot. If someone were to win the Jackpot or any prize that we could not pay out right away, the plan is they would be paid out weekly until they are paid in full.

We are sorry some may feel this is a scam, that's really not our intention. The idea is just to create an International Powerball System that runs solely on the Bitcoin Blockchain with minimal points of failure, no critical website, minimal user input, just kind of a "Set it and Forget it" type thing.

We aren't putting this out there expecting people to blindly trust us, that's why we trying to be as transparent as possible about things like the total amount of money we have currently($250 or 0.03 BTC) and the Ticket generation code. If some people take the risk, cool, if not that's cool as well.

We're just thankful for all of the feedback everyone is providing.

To - CryptoGamblingSites:
We actually did think about doing something like that where people could buy Powerball tickets, then if the ticket wins, we would ship the ticket to them so they could redeem it or we redeem it, keeping a greater percentage of it. We decided against it for various reasons. Would be cool for someone else to do it though.

To - kryptqnick
As far as the Website, it isn't meant for anything else other then an informational page, it's only needed so people know how the game works, though as was pointed out, it's not perfect looking yet. Like we said above, it was designed to run solely on Bitcoin with minimal points of failure, no critical website that could be shutdown/hacked etc.. , and minimal user input.

For proof of payment, all you would need is a block explorer and the ticket generation code we have posted on the website, either the PHP (it's at the bottom of the website) or the javascript (the Ticket Checker on the Left side), we will also be posting to GitHub soon, will link to it when posted. Use the ticket generation code to verify we generated the tickets correctly and then use the block explorer to see our payouts. If we payout incorrectly, anyone can see that.

There is indeed some table on the left side with payout structure, but there are no proofs people ever received the payment in case of winning. The overall design is also pretty unappealing. It looks like a gambling website 'under construction'. Only one web page with different blocks of information, no 'terms and conditions' section, no copyright and property statement, no registration, chat or contact information... If you want people to try playing, you should make a decent website and perhaps offer some welcome bonuses.

You would probably do better selling actual powerball tickets for bitcoin as an agent like the thelotter does to people outside America.

Not that you want to change your whole model or anything, just don't see this taking off and SOMEONE should probably do that with a powerball type bitcoin site.

I understand your payout structure and this is what I assumed you would do originally.

However you need to understand that this is not fair in the rare chance that someone might actually with the prizes greater than 4 white ball + powerball and all they would get is $200 instead of millions they deserve.

This would be like the Powerball people saying, "You can only win the max amount of tickets purchased even if your deserved prize is a higher value, because we think the odds are nobody will hit the winning numbers".

However it doesn't work like that.

There you go guys - straight from the horse's mouth. Not only do you have the exact same odds of winning lower prizes than the powerball, but they don't have any funds to pay you if you do win.

This is a straight up scam. Avoid.

Basically, it works exactly like normal Powerball (Link to Powerballs site https://www.powerball.com/) except our payouts are differn't. The match Powerball is where the Powerball (Red Ball, 1-26) is drawn in the Powerball drawings. The match 1 + Powerball is where you must have the Powerball (1-26) and at least 1 Whiteball (1-69), 5 White balls and 1 Powerball are drawn in every Powerball Drawing, the order the white balls are drawn in does not matter.

These are the actual Prize payouts in BTC.
We just updated the payouts on our website but here they are as well. The Payouts in BTC never change, if you win, that's what you get, its the USD amount that changes based on the current exchange rates.
Our odds are exactly the same as Powerball.

Powerball                       = 0.00075 BTC
1 White Ball + Powerball = 0.0015 BTC
2 White Ball + Powerball = 0.006 BTC
3 White Ball                   = 0.006 BTC
3 White Ball + Powerball = 0.075 BTC
4 White Ball                   = 0.15 BTC
4 White Ball + Powerball = 30 BTC
5 White Ball                   = 300 BTC
5 White Ball + Powerball = VARIABLE, starts at 750 BTC


In regards to the $5,000,000 USD (750 BTC) Jackpot, the 1PWRBALL address currently holds all of the funds, to be honest we only have the 0.03076 BTC ($250 roughly). This is currently enough to cover the most common winnings (everything below the $500 Prize). If someone were to hit any prize higher then what is currently in the address, they would be put on a payment plan (weekly) until there prize is paid in full.

But statistically, by the time somebody wins, there should be enough to cover any prize including the Jackpot.

Basically there are a few issues with this idea.

For one, it would be much easier to do this with an Ethereum smart contract. Then we can hire an indepedant audit and we can be sure our funds will be safe from theft, since in a smart contract you can't withdraw the funds that are on it.

Second issue is like the above poster mentioned. When you play the lotto you pay $2 to win millions of dollars, since its nearly impossible to win. Here the max you can win is how many tickets are purchased, so if you sell $20 worth of tickets, someone gets all the numbers correct, instead of winning millions, they only get $20.

Third issue is that this idea was tried and tested and failed every single time a "raffle" or "lotto" type of Bitcoin gambling site pops up.  Reason being is that I can go to any dice site right now, make a large bet on 9900x, and its more or less the same as a lottery but I get the result right away and its provbably fair instead of waiting for the lotto results to come.