Re: [ANN] LOTTO COIN - The coin thats a game! Released 12/12/13
Yes, at CoinBomb the house gets all what's in when the countdown reaches 0. But LOT1 is still low and just a few hours old - so there will be some buyers. As you said, it was 7.5M in the last round 
Woah - hang on, this is not true. Ive seen it posted before, but think it needs explaining how this works. The house makes 1%. The people buying are just funding the interest for theprevious person.
Example: The start price is 1000 and the "interest" is 50%. So player 1 is the owner of the bomb, and the price is now 1,500.
When player 2 buys for 1,500. Player 1 gets 1,485 coins. This is their 50% less the 1% house fee.
The house is not making millions - they are just passed from one player to the next. The coins that you have paid for LOT 1 and LOT 2 have already ben sent to the last player, less 1% for the house.
The risk is that you are not the last person to buy, if you are and nobody buys from you, then you lose and get zero back.
Obviously the lower the price, the more likely it is that somebody will buy - which is why the cheats only do it up to about 500K. after that they let others (like you) take the risk.
Exactly. And that is why i never played it even from the day it launched.
I am all for someone using their skill to beat the house.
The problem is in this game you are only playing against each other and the house gets a vig.
Even though the perception is that you are playing against the house it is actually more a game of mexican standoff/sweat between the players.