Win a Lamborghini for 0.00056 BTC - page 9.

virasog

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Quote from: traderethereum on April 06, 2019, 02:55:42 AM

Quote from: tippytoes on April 04, 2019, 05:22:35 PM

Quote from: NeuroticFish on April 04, 2019, 02:42:37 PM

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

Here's the thing about this raffle. Let's say the fulfill the maximum entries(450,000 entries). If we will multiply 450,000 x .00056 = 252 Bitcoins. 252 x 5000 = 1,260,000.

I think that you've started it wrong.
The raffle is not crypto related. The price is also not crypto related. Just crypto is also accepted.
One ticket is 2 EUR, no matter how big or small Bitcoin is. That .00056 is already incorrect. The target is 900k EURO, not 1.2M. And so on...

The logic is, on the other hand, correct. They will indeed keep quite some money for themselves. This happens with all lotteries actually.

This is not surprising for lottery-operated business. Sometimes they can rake a lot of money if their contest will be a hit. If they will sell the tickets slow or not reaching their min target entries, we might never see this lambo. The realization of this raffle depends on the money that will be raised.

They need to make a contest to attract more gamblers to play the lottery so that the money will be raised in a big amount. All in all, that will be big money for the winner, and I guess that person who can win the lottery will become a wealthy person in his town.

Lottery system is very difficult to win as so many people tries their luck in it and only a few can win. I am really not fond of lottery as I think it is almost impossible to win when there are already so many contestants.

Bitinity

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Anyone knows how to check how many entries has been made so far? I cant find it on the website which is obviously fishy, lottery should be transparent. Means that the number of entries should be announced publicly and updated regularly. To be honest, I doubt that there are many entries already as the lottery (to draw the winner) is not provably fair. A big chance for the owner to manipulate the draw. Also, the site is going to take so huge fee from the total entries. 24.77%? Must be the highest lottery fee ever...

alisafidel58

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Quote from: r1a2y3m4 on April 06, 2019, 11:36:45 AM

Quote from: pushups44 on April 06, 2019, 11:05:58 AM

I say go for it as long as this contest is run transparently as other posters have mentioned. There should be a way for participants to tally all of the funds and the distribution.

The question in here is, is this contest still runs? Can anybody confirm that this contest is still on going or not?

The site is up and running and by the looks of it the lottery is still going on. I don't think I can join the lottery here since I hardly knew the site. I'll be doing some research first before joining.

d1ceplayer

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I guess it would have been horrible if the market went the other way if they kept the coins. Think about it now we say that 0.00056 or 2 euro which one is the real price for a ticket and if it is crypto they did made a profit and I think they do kind of deserve it (they could still give the right price of how much a person spent on a ticket via btc and just cut the contest short and decide the winner) just because if the price also went down then they would have lost a ton of money.

What if bitcoin reached to one thousand dollars? Then we would be telling them how it was their responsibility to give a lambo anyway and the price wouldn't affect the results but they would be in debt in that case, that is why if we are not going to let them get away with it when price goes down we shouldn't when it goes up.

r1a2y3m4

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Quote from: pushups44 on April 06, 2019, 11:05:58 AM

I say go for it as long as this contest is run transparently as other posters have mentioned. There should be a way for participants to tally all of the funds and the distribution.

The question in here is, is this contest still runs? Can anybody confirm that this contest is still on going or not?

pushups44

sr. member

Activity: 854

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I say go for it as long as this contest is run transparently as other posters have mentioned. There should be a way for participants to tally all of the funds and the distribution.

MrFreeRoMan

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If I win, I WILL WIN! I will be the richest man on Earth, in terms of inner state! And so, the richest in the area) That is also not bad
And that's how they will look at me from...

traderethereum

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Quote from: tippytoes on April 04, 2019, 05:22:35 PM

Quote from: NeuroticFish on April 04, 2019, 02:42:37 PM

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

Here's the thing about this raffle. Let's say the fulfill the maximum entries(450,000 entries). If we will multiply 450,000 x .00056 = 252 Bitcoins. 252 x 5000 = 1,260,000.

I think that you've started it wrong.
The raffle is not crypto related. The price is also not crypto related. Just crypto is also accepted.
One ticket is 2 EUR, no matter how big or small Bitcoin is. That .00056 is already incorrect. The target is 900k EURO, not 1.2M. And so on...

The logic is, on the other hand, correct. They will indeed keep quite some money for themselves. This happens with all lotteries actually.

This is not surprising for lottery-operated business. Sometimes they can rake a lot of money if their contest will be a hit. If they will sell the tickets slow or not reaching their min target entries, we might never see this lambo. The realization of this raffle depends on the money that will be raised.

They need to make a contest to attract more gamblers to play the lottery so that the money will be raised in a big amount. All in all, that will be big money for the winner, and I guess that person who can win the lottery will become a wealthy person in his town.

adaseb

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Quote from: beerlover on April 05, 2019, 11:54:13 AM

I think they will continue going on until the money is collected, they can't just cut it short or have time frame because they need the money to be paid to them in order to buy the lambo anyway, I don't know if they will give the lambo away (would be costly overseas) or they are willing to just give bitcoin worth of it so they can be done with this in just one transaction but I am sure they would prefer the winner to get lambo literally so they can showboat about how it is real.

All the provably fair discussion aside the fact that they have such an insane house edge is just sad, I mean you could just drop the house edge insanely and still make a lot of profit and the time for the end of this lottery will be so much closer, even maybe today if they collected enough, no reason to postpone it just so they could have more money.

This was already discussed a few pages back and on the website. Basically they will not be buying a lambo and shipping it to the winner. They will buy the lambo in the winners country.

Due to regulations and how they vary from country to country it would be very difficult to get a Lambo registered in USA if it was a Euro spec model originally.

Also the prices of vehicles also vary country to country. A lambo might be cheaper in USA as compared to somewhere in Europe or Asia. So they are better off hoping that the winner will be located somewhere in North America and they get a larger house edge to keep for themselves.

beerlover

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I think they will continue going on until the money is collected, they can't just cut it short or have time frame because they need the money to be paid to them in order to buy the lambo anyway, I don't know if they will give the lambo away (would be costly overseas) or they are willing to just give bitcoin worth of it so they can be done with this in just one transaction but I am sure they would prefer the winner to get lambo literally so they can showboat about how it is real.

All the provably fair discussion aside the fact that they have such an insane house edge is just sad, I mean you could just drop the house edge insanely and still make a lot of profit and the time for the end of this lottery will be so much closer, even maybe today if they collected enough, no reason to postpone it just so they could have more money.

dunfida

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Quote from: AmoreJaz on April 04, 2019, 06:00:35 PM

Quote from: dunfida on April 04, 2019, 05:38:24 PM

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

1,260,000 - 740,323.22 = $519,676.78 they'll be having this amount just for processing the payment for the Lambo and just for holding this event. Although if you submit at least 2 euro, it's not big enough though but the chances of winning is too low.

What an edge huh.! Cool

Theres no dumb person that betting out 2 euro ticket would say to win such prize but atleast you have that chance of winning even its already on
nearly impossible thing to happen.Its much better compared to those who havent purchased one. Wondering if this raffle is ongoing?

seems ongoing. the above post was his latest here in this thread. of course, at the end this is all about money. and more then likely they are getting the big chunk out of this if will be a successful one. we wont know whats gonna happen afterwards.
people can always participate this raffle contest at their own risk. anyway they even have that statement on their website

Okay if they are still on going but i doubt that people would still hesitant to give out even 2 euros. Handling lotteries sounds easy but accumulating large amounts to unknown person
on net isnt really that ideal at all.

AmoreJaz

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Quote from: winalambo on April 03, 2019, 12:52:50 PM

Extensions really depend on the pick up.

So far we have had technical/payment provider issues slowing us down, so the real launch (with fiat) only really started yesterday - eg when we sent out first press release.

As of now we are on less than 1k entries within the first day - there are a lot of pending entries so its difficult to say exactly at the moment.

I expect that an extension may be likely, but who knows with press coverage, one day on the house raffle alone brought in over 100k GBP.

Quote from: dunfida on April 04, 2019, 05:38:24 PM

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

1,260,000 - 740,323.22 = $519,676.78 they'll be having this amount just for processing the payment for the Lambo and just for holding this event. Although if you submit at least 2 euro, it's not big enough though but the chances of winning is too low.

What an edge huh.! Cool

Theres no dumb person that betting out 2 euro ticket would say to win such prize but atleast you have that chance of winning even its already on
nearly impossible thing to happen.Its much better compared to those who havent purchased one. Wondering if this raffle is ongoing?

seems ongoing. the above post was his latest here in this thread. of course, at the end this is all about money. and more then likely they are getting the big chunk out of this if will be a successful one. we wont know whats gonna happen afterwards.
people can always participate this raffle contest at their own risk. anyway they even have that statement on their website

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

1,260,000 - 740,323.22 = $519,676.78 they'll be having this amount just for processing the payment for the Lambo and just for holding this event. Although if you submit at least 2 euro, it's not big enough though but the chances of winning is too low.

What an edge huh.! Cool

Theres no dumb person that betting out 2 euro ticket would say to win such prize but atleast you have that chance of winning even its already on
nearly impossible thing to happen.Its much better compared to those who havent purchased one. Wondering if this raffle is ongoing?

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: NeuroticFish on April 04, 2019, 02:42:37 PM

Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

Here's the thing about this raffle. Let's say the fulfill the maximum entries(450,000 entries). If we will multiply 450,000 x .00056 = 252 Bitcoins. 252 x 5000 = 1,260,000.

I think that you've started it wrong.
The raffle is not crypto related. The price is also not crypto related. Just crypto is also accepted.
One ticket is 2 EUR, no matter how big or small Bitcoin is. That .00056 is already incorrect. The target is 900k EURO, not 1.2M. And so on...

The logic is, on the other hand, correct. They will indeed keep quite some money for themselves. This happens with all lotteries actually.

This is not surprising for lottery-operated business. Sometimes they can rake a lot of money if their contest will be a hit. If they will sell the tickets slow or not reaching their min target entries, we might never see this lambo. The realization of this raffle depends on the money that will be raised.

NeuroticFish

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Quote from: r1a2y3m4 on April 04, 2019, 11:24:40 AM

Here's the thing about this raffle. Let's say the fulfill the maximum entries(450,000 entries). If we will multiply 450,000 x .00056 = 252 Bitcoins. 252 x 5000 = 1,260,000.

I think that you've started it wrong.
The raffle is not crypto related. The price is also not crypto related. Just crypto is also accepted.
One ticket is 2 EUR, no matter how big or small Bitcoin is. That .00056 is already incorrect. The target is 900k EURO, not 1.2M. And so on...

The logic is, on the other hand, correct. They will indeed keep quite some money for themselves. This happens with all lotteries actually.

cabalism13

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Activity: 1428

Merit: 1166

🤩Finally Married🤩

~~So, where are we going to send that 0.00056~~[
Already found it. Tongue

I was too lazy, for hoping that it will be having the BTC address here at the thread.

quote author=r1a2y3m4 link=topic=5077095.msg50459559#msg50459559 date=1554395080]
JOIN AT YOUR OWN RISK.
[/quote]
Seriously? Is there a lot loss on making a bet with your 0.00056BTC? Come on.

STT

legendary

Activity: 4088

Merit: 1452

Chances, the gods of fate will guide your hand to winning entry onto the steering wheel where your destiny always lay. Only one ticket is required to fulfil what always should have been :p On the other hand some must buy all the tickets and somehow would still lose, I cant tell which path you are cast on you must reflect and focus your chi before considering this venture

Quote

Dude we are in crypto world, if you are going to make something like this and than publish it here and than ask for MORE money when paid in crypto people will see you as a scammer very easily.

Its not a scam if the premium is stated openly, honestly people should only enter a ticket or two or whatever is spare. Lots of companies have premium to deal with crypto, not saying its ok but only competing ventures can really bring that % down rather dismissing the proposition altogether.
I have won a grand prize with a single ticket previously, sadly it was not a house or Lambo but nothing is impossible. If you really dislike this one on grounds you can contrast it to the comp run by freebitco but I think the odds are longer on that one maybe

r1a2y3m4

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Match365> be a part of 150BTC inviting bonus

I don't know if this is real or what but I can say that this thing is a great opportunity for all of us since, we're just focussing and saying "when lambo," "when moon." But we never know that this could make us own a lambo for ourselves.

Here's the thing about this raffle. Let's say the fulfill the maximum entries(450,000 entries). If we will multiply 450,000 x .00056 = 252 Bitcoins. 252 x 5000 = 1,260,000.

€400,000 + €250,000 + €10,000= €660,000 = $740,323.22 the equivalent of 660k euro.

1,260,000 - 740,323.22 = $519,676.78 they'll be having this amount just for processing the payment for the Lambo and just for holding this event. Although if you submit at least 2 euro, it's not big enough though but the chances of winning is too low.

NOTE: THE COMPUTATION WAS RAW AND WAS BASED ON THIS SITE. JOIN AT YOUR OWN RISK. IF YOU ARE TO JOIN, GOODLUCK
IDK EITHER IF THIS COMPETITION IS STILL ON GOING

coinplus

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I am not going to even go into detail about how horrible this idea and how it could be taken advantage by the people who run it, that has been talked for pages and nobody has a single reason to trust these guys, if you can please never even visit the website.

Nonetheless, the most shocking and horrible thing we can talk is the ticket pricing, it says 2 euro per ticket for CRYPTO PAYMENTS and 1.8 for the others. Dude we are in crypto world, if you are going to make something like this and than publish it here and than ask for MORE money when paid in crypto people will see you as a scammer very easily. Hell dollar and euro payments in fiat is a lot worse with fees compared to bitcoin whereas with bitcoin it is so cheap, why would anyone charge crypto more than fiat.

Pamadar

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Quote from: STT on April 03, 2019, 08:40:34 PM

I had hoped the crypto price was hedged so it stayed fixed entry cost. I guess now crypto price rose, the entry fee for this has dropped so its actually a positive to enter now rather then previously.
Whats the latest cost to get a ticket, how often does it update.

Its a given they wont raffle till its paid for

That's the idea it won't start unless every ticket equivalent to lambo will be covered, then they will start the draw if I pick it up correctly, great update
seeing the market is rising and bitcoin value is showing good run, so people who will see this might be attracted with Lambo thing and will try their luck buying tickets and wait till the final draw will happen.

Topic: Win a Lamborghini for 0.00056 BTC - page 9. (Read 16869 times)