I have been around for too many coin launches, ICOs and scams. Here is my take -

PROS
Project is GREAT ... on paper. Blockchain and lottery is a match made in heaven.
Hackathon is a GREAT way of auditing.

CONS

• If devs wanted integrity - put the bounty on an automated smart contract that either:
  -returns dough to dev at a certain time period
  -allows hacker to take all. its not a bounty if devs can take back money
  
• Devs are anonymous, why?

If I was advising a family member on this I woul say: "

• First, Think about yourself back on the forums, fuming, typing in red caps "scam I want my money back" and thinking - "if only I had known or heeded the red flags"
  Are you ready to take a risk with this, given what you know?
   (== is this a good investment)
   
• Secondly, do you think this project has the confidence of the crypto community
• Thirdly, gambling laws??? Implosion (== is this a good investment)