How are the chances of winning here compared to something like the lottery?
Each lottery has its own mechanics, yet the most of them lowers their prize rates a lot. You can check it yourself comparing the wining chances of lotteries on different «bet vs prize» combinations. As example, we will take one of the most known lottery in the US. Player needs to select 5 numbers from 1 to 70 (white balls) and 1 number from 1 to 25 (gold ball). The ticket costs $2, and to win i.e $4 you need to guess 1 white ball and a gold ball. The winning chance is 1 : 89. Playing Ethex, you can double your bet if you guess just «any letter». Winning chance is 1 : 2.7. It says Ethex has x 33 times more chances to win 😉