BitDraw: Difference between revisions

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Created an article for BitDraw and added to the Gambling category.
 
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A monthly lottery where one winner will be chosen at the end of the month.  The winner earns 80% of the amounts wagered.
A monthly lottery where one winner was be chosen at the end of the month.  The winner earns 80% of the amounts wagered.


The site was announced on February 20th, 2011<ref>[http://www.bitcoin.org/smf/index.php?topic=3658.0 Bitcoin 50-50 Style Draw]</ref>.
The site was announced on February 20th, 2011<ref>[http://www.bitcoin.org/smf/index.php?topic=3658.0 Bitcoin 50-50 Style Draw]</ref>. The first and last draw was on March 4th, 2011<ref>[http://www.bitcoin.org/smf/index.php?topic=3658.msg59812#msg59812 Re: Bitcoin 50-50 Style Draw]</ref>


==Criticism==
==Criticism==

Revision as of 22:05, 3 April 2011

A monthly lottery where one winner was be chosen at the end of the month. The winner earns 80% of the amounts wagered.

The site was announced on February 20th, 2011[1]. The first and last draw was on March 4th, 2011[2]

Criticism

Thought the site's instructions say the winnner will be chosen by a random number generator, there is no independent verification that this in fact is what occurs. The operator keeps 10% of the amounts wagered, and another 10% goes to a charity that has not been identified. Returns of 80% or 90% even might not be considered to be competitive for an online lottery.

External Links

References