Yes. Ths is more of a lottery than a chit fund.
In that case,please change the title it's misleading.
No monthly payments....its only one time payment and get into the lottery draw. So no running away.
Again who would hold this money and what is the guarantee they won't run away with the money ?
I know there are many lottery with block chain concept like FireLotto,TrueFlip etc. wherein the participants
pick six numbers and also it rolls over if no number is matched. Its similar to traditional lotto.
Which means the market is already saturated and no new services will be welcomed gratefully.
In our case, we pick from the participating members., the pool money goes to winner/s. Also there is a cap on
participants and total amount and hence more transparency and winning chances are more.
That is technically how every lottery works.The winning chances will always depend on the number of participants.How would you earn money if you give all the pool money to the winner ? You know that's a lie.