Topic: The Bitcoin Lottery (Read 8171 times)
Player Feedback: »Why don't use even/odd number to identify the winner?
top or flop?
We have 1:200 right now. Should we leave it like that? Or should we raise it at 1:500 or 1:1000?
What do you think?
I kind of like it how it is. Sure the jackpots won't get really big but it does allow more people to win! It's still a pretty decent amount! What do you think?
Congratulations to Billybob, who won the Jackpot with 10.63 Bitcoins!
I had hoped the jackpot would go higher, but with a rolling range of 1-200 it seems it isn't possible.
Now I have a question:
A. Would you like a small jackpot like that one (about 10 btc) win more often?
B. Or should we increase the rolling range and offer a much bigger jackpot, which is really interesting?
For comparison, the winning chance of a real lottery house like real lotto is far higher and about 1:14.000.000.
We have 1:200 right now. Should we leave it like that? Or should we raise it at 1:500 or 1:1000?
What do you think?
Kind regards!
I had hoped the jackpot would go higher, but with a rolling range of 1-200 it seems it isn't possible.
Now I have a question:
A. Would you like a small jackpot like that one (about 10 btc) win more often?
B. Or should we increase the rolling range and offer a much bigger jackpot, which is really interesting?
For comparison, the winning chance of a real lottery house like real lotto is far higher and about 1:14.000.000.
We have 1:200 right now. Should we leave it like that? Or should we raise it at 1:500 or 1:1000?
What do you think?
Kind regards!
We're playing with house money right now. Even accounting for fees and 90% of jackpot you're looking at about 100% payback rate over time.
Good time to play!
Good time to play!
Jackpot Update: 6.2767 BTC
For your interest:
Regarding the last night with three jackpot wins in short time, we had to increase the rolling range to 200 to give the jackpot a better chance to grow.
Anyway there is always a chance to win the jackpot two times one after another, but we would like to keep the jackpot wins rare. So it can rise to a really interesting value. I think the rolling range to 200 is still to low, but we'll give it a try.
After two weeks of watching and testing the beta period should be over. It seems the system works nice and there are no errors.
So this is the final setup:
********************************
UPDATE -> 22. Jun. 2011 21:44 h (CET)
Bet minimum: 0.1 BTC
Bet maximum 1.0 BTC
Win Class: Roll 100 - 200 = 150% payout
Jackpot Class: Jackpot Roll 200 = + 90% jackpot payout[/b]
-> See details on website. http://bitcoin.dyndns.info/bt/
<- Update end
********************************
If there will be a surplus revenue, the revenue will be transfered to the jackpot account.
And btw: If you like to test the lottery, you can send a low bet from 0.01 to 0.09 btc. Some people requested that. If you play in minimum bet mode there will be no chance to win the jackpot, because the minimum bet system rolls only from 1 to 199. Everything else works like the regular gameplay.
Kind regards!
Regarding the last night with three jackpot wins in short time, we had to increase the rolling range to 200 to give the jackpot a better chance to grow.
Anyway there is always a chance to win the jackpot two times one after another, but we would like to keep the jackpot wins rare. So it can rise to a really interesting value. I think the rolling range to 200 is still to low, but we'll give it a try.
After two weeks of watching and testing the beta period should be over. It seems the system works nice and there are no errors.
So this is the final setup:
********************************
UPDATE -> 22. Jun. 2011 21:44 h (CET)
Bet minimum: 0.1 BTC
Bet maximum 1.0 BTC
Win Class: Roll 100 - 200 = 150% payout
Jackpot Class: Jackpot Roll 200 = + 90% jackpot payout[/b]
-> See details on website. http://bitcoin.dyndns.info/bt/
<- Update end
********************************
If there will be a surplus revenue, the revenue will be transfered to the jackpot account.
And btw: If you like to test the lottery, you can send a low bet from 0.01 to 0.09 btc. Some people requested that. If you play in minimum bet mode there will be no chance to win the jackpot, because the minimum bet system rolls only from 1 to 199. Everything else works like the regular gameplay.
Kind regards!
@lemonginger:
Of course you are right. I just thought it was a nice display. Its based on the number of games played without a jackpot. But it's silly and I will remove it.
@tito13kfm:
I don't understand what you mean. sorry
what is EV?
Of course you are right. I just thought it was a nice display. Its based on the number of games played without a jackpot. But it's silly and I will remove it.
@tito13kfm:
I don't understand what you mean. sorry
what is EV?Expected value of each .1BTC bet. Basically it's a way for degenerate gamblers like myself to evaluate if the risk vs reward is currently worth playing.
Edit: Updated my back of the napkin calcs in my previous replies.
@lemonginger:
Of course you are right. I just thought it was a nice display. Its based on the number of games played without a jackpot. But it's silly and I will remove it.
@tito13kfm:
I don't understand what you mean. sorry what is EV?
Of course you are right. I just thought it was a nice display. Its based on the number of games played without a jackpot. But it's silly and I will remove it.
@tito13kfm:
I don't understand what you mean. sorry
what is EV?
Ignoring fees, back of the napkin calculation
A .1 BTC bet would need a jackpot of15 5.2 BTC to have an EV of over .1
50% to win 150%. .1BTC EV=.025 .075BTC
.5% to win Jackpot @15 5.2BTC .1BTC EV= .026BTC
Edit: I'm retarded... I was using 50% chance to win back half your bet in the original calculation
Jackpot >5.2BTC Bet like your life depends on it it's free money at that point!
A .1 BTC bet would need a jackpot of
50% to win 150%. .1BTC EV=
.5% to win Jackpot @
Edit: I'm retarded... I was using 50% chance to win back half your bet in the original calculation
Jackpot >5.2BTC Bet like your life depends on it it's free money at that point!
This phrase is a little silly to anyone that knows anything about statistics
Chance to win the Jackpot: average
You chance to win the jackpot is the exact same every turn (if it is a fair roll). It doesn't matter if the previous jackpot was 1 turn ago or 500 turns ago.
Chance to win the Jackpot: average
You chance to win the jackpot is the exact same every turn (if it is a fair roll). It doesn't matter if the previous jackpot was 1 turn ago or 500 turns ago.
3 Jackpots within a few hours! Is that normal?
Sure, that's within probabilities that aren't too far fetched. Now if 6 Jackpots happened all in a row, then I'd worry, as chances are something is wrong with the software, BUT even that is still possible, just unlikely.
3 Jackpots within a few hours! Is that normal?
Now you can bet with a new minimum of 0.01 btc. To win the jackpot, you still have to bet a minumin of 0.1 btc.
http://bitcoin.dyndns.info/bt/
Kind regards.
http://bitcoin.dyndns.info/bt/
Kind regards.
The only thing i can imagine is, that you can play the normal game with 0.01 btc, but will not have the chance to win the jackpot with that low bet.
What do you think?
And what do you other players think? Should this be done? Or not?
What do you think?
And what do you other players think? Should this be done? Or not?
That works.
Hi!
@Eggcellent:
The percentage get switched last night when noone was playing. But 40% is only the chance. Maybe you see the new Statistics Button. There you will find the real calculated winning percentage, based on all games since yesterday 19:23 h (CET).
The current calculated winning chance is 47.37%.
And you will see how many rounds were played without a jackpot winner. The Jackpot chance is 1:100. Now there were 114 rounds played without a winner. So its time for the next winner.
http://bitcoin.dyndns.info/bt/statistics.php
@mmavipc:
I think a minimum bet 0.01 btc is to low. The jackpot will raise (10%) each round. So if the bet was 0.01 btc the jackpot will be increased by 0.1 btc every 100 rounds. At a winning chance of 1:100 that will not very interesting. The only thing i can imagine is, that you can play the normal game with 0.01 btc, but will not have the chance to win the jackpot with that low bet.
What do you think?
And what do you other players think? Should this be done? Or not?
Regards.
@Eggcellent:
The percentage get switched last night when noone was playing. But 40% is only the chance. Maybe you see the new Statistics Button. There you will find the real calculated winning percentage, based on all games since yesterday 19:23 h (CET).
The current calculated winning chance is 47.37%.
And you will see how many rounds were played without a jackpot winner. The Jackpot chance is 1:100. Now there were 114 rounds played without a winner. So its time for the next winner.
http://bitcoin.dyndns.info/bt/statistics.php
@mmavipc:
I think a minimum bet 0.01 btc is to low. The jackpot will raise (10%) each round. So if the bet was 0.01 btc the jackpot will be increased by 0.1 btc every 100 rounds. At a winning chance of 1:100 that will not very interesting. The only thing i can imagine is, that you can play the normal game with 0.01 btc, but will not have the chance to win the jackpot with that low bet.
What do you think?
And what do you other players think? Should this be done? Or not?
Regards.
Can you make the minimum bet 0.01BTC please?
I second this.
Can you make the minimum bet 0.01BTC please?
Damn when did the 50% win percentage get switched to 40% go into effect? Today?
That sucks, I actually had some decent luck on this site up until the 40% change. Now I'm having terrible streaks lol
Still fun either way but ya...
That sucks, I actually had some decent luck on this site up until the 40% change. Now I'm having terrible streaks lol
Still fun either way but ya... Statistics page ready: http://bitcoin.dyndns.info/bt/statistics.php
Please note that the statistics unfortunately starts from today 19:23 h, because I did not save some of the required data fields in the past. I added the fields this evening and I hope it will work now. I have to check the jackpot winner display in the history list as soon as the next player wins.
Kind regards!
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