I am a little bit puzzled with regards to your jackpot. I was puzzled about the formula, f is the minimum bet amount which is a little bit understandable.
But what I want to know is whether the Jackpot is available to anyone? or it has a certain rules to be able to participate in it like the minimum bet that
are present in the formula.
Yes, the jackpot is available to anyone. Any bet that hits the jackpot with bet amount less than indicated by f will win only a portion of the jackpot. The exact amount of jackpot winnings is calculated using the above formula. f is the minimum bet amount to win the whole jackpot and varies for each cryptocurrency.
For example:
If you hit the jackpot with a bet amount of 1 LTC you will win the whole jackpot.
If you hit the jackpot with a bet amount of 0.5 LTC you will win 50% of the jackpot amount.