If you want to see your lottery works:
1. Use an escrow for the first time draw.
2. Use a provably fair system for the drawing
3. Reduce the ticket numbers and ticket price, no need to offer such big prize but it needs to take so long time to do the draw.
4. Use a fixed time duration for the lottery, lets say weekly or monthly. Then do draw no matter how many tickets sold.
5. Take small percent of the prizepool only.
If you keep the way as what you want with 100k tickets and wont draw till all tickets sold, there will no draws happen till the end of your site.
Of course it is just suggestion, take it or leave it.
1. Use an escrow for the first time draw.
2. Use a provably fair system for the drawing
3. Reduce the ticket numbers and ticket price, no need to offer such big prize but it needs to take so long time to do the draw.
4. Use a fixed time duration for the lottery, lets say weekly or monthly. Then do draw no matter how many tickets sold.
5. Take small percent of the prizepool only.
If you keep the way as what you want with 100k tickets and wont draw till all tickets sold, there will no draws happen till the end of your site.
Of course it is just suggestion, take it or leave it.
Hey Panjul,
Another member of BitcoinJackpot here. Like CryptoJoshua mentioned above, we will keep escrow under consideration. Regarding your provably fair system point, the main reason why we opted out of that and chose random.org is because we wanted the draw to be entirely third party; in this way, everyone can be rest assured that we have nothing to do with the results. To make it more transparent, the draw will be live streamed to prove that we are not manipulating the results. I believe random.org is pretty solid, and if you have concerns about their fairness, they have tons of information in their FAQ section.
You have a valid point about the long process, which is why we are speeding up this process with marketing and giving out free tickets for a limited time with the hopes that people who get tickets would share it within their circle, prompting more people to get tickets, and so on. I like your idea about doing a draw before all tickets are sold; of course, the price won't be the grand prize, but we will consider doing small random surprise draws along the way
Thanks for the feedback; if you have any questions / concerns / feedback, feel free to reach out to me or CryptoJoshua. Thanks.Regards,
CryptoEbe