Quote from: leancuisine on May 12, 2014, 08:20:29 PM

Quote from: pavlin99th on May 12, 2014, 08:34:05 AM

Round updates:

approx. 150 blocks till drawing, which will occur on BTC block #300500 (~1 day left);
5 tickets sold;
0.0717372 BTC prize pool.

https://crackthewallet.org/btc/raffle/
Tickets start at 0.001 BTC

Simple math shows that this is actually a +EV game.
Say there are 6 tickets, single ticket has 1/6 chance to win 1st place (50% of prize pot), 1/6 for 2nd place (20%), 1/6 for 3rd place (10%) and 3/6 for loss.
Even at 100 tickets it is +EV. Because prize pot is progressively increased with each sold ticket.
You can also increase you win chances by buying more nonces.

Don't miss the chance, join the raffle!

It is a +EV game, so how are you, the site owner, make money from these raffles? Seems more like you are giving money away from the large prize pool compared to the ticket entries... Undecided

You are correct, I do not have profit. Just wanted to create this kind of game, as an experiment, for fun. I can afford to spend some BTC on this.
Also thought that +EV would attract rational gamblers. Mistake. Just look at all these ponzis