Any thoughts? Is there any similar projects out there?
There’s no known lottery project here that has a mechanics like this which distribute prize on random user. It’s more on a raffle than a lottery since user is not betting on a picked numbers but rather the smart contract is just selecting entries as winner.
L0tt0.com is your nearest competitor for lotto based game. The only problem on this kind of game is every round can be useless whenever there’s no participants aside from one user who place bet compared to a regular lotto games which the casino provides prize pool for players to win with their bet. This game is more on just PVP.
I definitely agree with your statement,
This is not lottery perse- but more on the spirit of a raffle where winners are chosen on a given time-frame. Unlike traditional lotteries where numbers are being picked by the minute, these follows more on the side of a raffle.
While this kind of proposal is decent, I do not think that people would try and spend $10 on a given ticket due to the circumstances involved. In our country, the ticket for the lottery costs less than a $1 with the chance of winning a huge amount of money in the end.
it may attract some players in the beginning, but i don't think, he can sustain the interest of those players. so high likely that such endeavour is only short-term.
well, he can try running this and see for himself how many people will try to join the game. but the longevity is usually the dilemma here.