About BTC Lottery

FAQ of BTC-L


Why a Lottery

Instead of betting on this or that, or playing cards, a lottery is (or should be) simple. It also offers the most gain for the least amount of input but also the highest risk. I have seen a couple of other lotteries that are not done right, and don't seem to be as easy to use as they should be so I figured I would give it a try


Verification

How to you verify a random number? BTC-L has developed a system to ensure that we don't cheat you. We take the last deposit, get the transaction id, then grab the time the block for when that transaction was created. This time is then verified with another service to ensure that the time is correct. Once that time is verified, it is converted to a unix timestamp and then the mod of that unix timestamp and the total number of tickets is found, and that is the winner. Here is what the code looks like

// Last Transaction ID for the Current Lottery (uncontrollable variable)
$txid = $lastTransaction["txid"];

//Get the time from BlockExplorer of this transaction
$blockexplorer = file_get_contents("http://blockexplorer.com/tx/{$txid}");
$time1 = strtotime(array_shift( explode(")",end(explode(" (", $blockexplorer, 2)))));

//Get the time from BlockChain of this transaction
$blockchain = file_get_contents("http://blockchain.info/tx/{$txid}");
$time2 = strtotime(array_shift( explode("  ",end(explode(" (", $blockchain, 2)))));

//Verify that the times match so that we have verification of time and neither sites were hacked
if($time1==$time2){
	//Get total number of tickets and get the modulus of the time
	$winnerTicket = $time1 % count($tickets);
}

This is completely secure in that that a block can not be manipulated by a single user and that the time is verified by two different entities. Once the winner is selected, the lottery account is closed so that no more transactions can be made to this account and so that the last transaction will always remain the same.


Fees

Currently the lottery has a 25% cut of the total amount in the lottery. 10% of this is used to seed the next lottery and the other 15% is used to pay for transaction fees and to help support the site and staff.


How our Lottery Works

The lottery works by allowing you to "purchase" a ticket(s) by depositing any amount of bitcoin into a Lottery Address. Each .001 BTC acts as a ticket. This means if you deposit .057BTC, you have 57 tickets, giving you 57 chances to win. Once the lottery has ended (Weekly Lotteries end on Sunday at midnight GMT), the automated system counts all the tickets and picks one at random. It then awards 75% of the total pool. The other 25% of the pool goes into the a seed for the next lottery and maintenance of running the system. (Fees). If you want to read up on how we verify ourselves, you can do so here: Verification


Payment

After a lottery has ended, a winner is chosen at random. Once the winner is chosen, payment is sent directly to their bitcoin address they used to purchase a ticket. This is why when playing BTC-L, you need to ensure your bitcoin address can send and receive bitcoin.


Example Lottery

Weekly Lottery (.001 BTC Min Deposit)

Ticket NumbersBitcoin AddressDeposit
1-23randombitcoinaddress1.023BTC
24-124randombitcoinaddress2.1BTC
125randombitcoinaddress3.001BTC
126-136randombitcoinaddress4.01BTC
137-236randombitcoinaddress5.099BTC
237-324randombitcoinaddress6.087BTC
325-357randombitcoinaddress7.032BTC
358-458randombitcoinaddress8.1BTC
459-559randombitcoinaddress9.1BTC
560-660randombitcoinaddress10.1BTC
661-718randombitcoinaddress11.057BTC
719-735randombitcoinaddress12.016BTC
736-810randombitcoinaddress13.074BTC
811-911randombitcoinaddress14.1BTC
912-963randombitcoinaddress15.051BTC
964-1004randombitcoinaddress16.04BTC
1005-1015randombitcoinaddress17.023BTC
Bitcoin Lottery Ended
Winning number is 343Winner is randombitcoinaddress70.759 BTC


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