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I want this new type of lotto I thought of.

[Deleted User]

I know the Martingale system or whatever and I know the chances are just as low as they actually are. There is zero need to go explaining this. I am 100% aware of the maths involved.

But, my Lotto fix would be sorted if I could deposit €3.65 every year and have one of these little bad boys start their journey every day. I could check in and see how they're doing. Just seems more fun and obviously cheaper than doing the actual lotto. €200 would do me for the rest of my life.

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PARlance

Outlaw Pete wrote: »

Fair enough, but I don't get what's causing the doubling of the stake.

Nothing is, you would have to find that... all it is is an illustration of the what results after doubling up successfully with 1 cent does after 30 days.

[Deleted User]

looksee wrote: »

Ok, let me see if I have this.

Day 1 put 1c somewhere. - on a table? pay it to a bookie?
Day 2 it doubles. How? Where does the second 1c come from?

Help me get this far and I might be able to work out the rest.

It's a 50/50 bet with the bookie. He doubles you up.

Amirani

looksee wrote: »

Ok, let me see if I have this.

Day 1 put 1c somewhere. - on a table? pay it to a bookie?
Day 2 it doubles. How? Where does the second 1c come from?

Help me get this far and I might be able to work out the rest.

You bet against a bookie or whatever on an evens bet. Heads/Tails or Red/Black. Do the same bet every single day.

scamalert

well looking at that id say a lot of people would manage to get to day 18, say if you got couple that's both working wouldn't be hard to get there. Thou rest would be simply unsustainable once passing 2k mark to put aside double amount.

El_Bee

Hey guys I got a bridge for sale, great condition, one previous owner.

artanevilla

Goodluck getting a bookie to agree to that or getting a bookie to pay out more than €100,000.

PARlance

[Deleted User] wrote: »

Check my reply to bluewolf. Just imagine a bookie doing this online.

Roulette?

[Deleted User]

El_Bee wrote: »

Hey guys I got a bridge for sale, great condition, one previous owner.

You realise I don't think this is profitable? I just like the idea of never having to think about regular lotto ever again for the sake of e3.65 a year, and the idea of logging in and seeing how many of your coins are still going sounds fun.

Checkmate19

Simple its just putting all on a coin flip each time or any even money chance. Say a wheel with 16 red 16 black segments.

Checkmate19

One most would cash out and in the amazing chance of getting into but numbers youd never get the bet on no bookies casino would take a million pound bet at evens.

PARlance

Checkmate19 wrote: »

Simple its just putting all on a coin flip each time or any even money chance. Say a wheel with 16 red 16 black segments.

It doesn't need to be a 50/50 chance... just to pay Evens. So Roulette would be ideal.

[Deleted User]

[Deleted User] wrote: »

You realise I don't think this is profitable? I just like the idea of never having to think about regular lotto ever again for the sake of e3.65 a year, and the idea of logging in and seeing how many of your coins are still going sounds fun.

Is there a website we can use just to test it out?

[Deleted User]

PARlance wrote: »

Roulette?

No, that would require effort. I'm talking about an automated accumulator starting at 1c every day.

So the idea is that in the rest of your life, you could have 15k-20k of these accumulators happen, and if one of them manages to win the flip 30 times in a row, you get 5.4m. Your investment in those years is like e200.

jammiedodgers

Send one dollar to Happy Dude, 742 Evergreen Terrace, Springfield. Don't delay. Eternal happiness is just a dollar away

[Deleted User]

Strawberry Milkshake wrote: »

Is there a website we can use just to test it out?

I might just code it up in javascript and see.

PARlance

[Deleted User] wrote: »

No, that would require effort. I'm talking about an automated accumulator starting at 1c every day.

So the idea is that in the rest of your life, you could have 15k-20k of these accumulators happen, and if one of them manages to win the flip 30 times in a row, you get 5.4m. Your investment in those years is like e200.

I get you.
Good idea, the bet also needs to be locked in for 30 days...
Could you imagine seeing a loss over the final week, torture.

artanevilla

Deleted User wrote: »

No, that would require effort. I'm talking about an automated accumulator starting at 1c every day.

So the idea is that in the rest of your life, you could have 15k-20k of these accumulators happen, and if one of them manages to win the flip 30 times in a row, you get 5.4m. Your investment in those years is like e200.

Where is the bookie making his money?

[Deleted User]

artanevilla wrote: »

Where is the bookie making his money?

No one is cashing out along the way, and they can take a 20% cut off the 5.4m if they like. No one would care. It's just a game.

cruizer101

Its not a bad idea, probability of you winning on a single bet are 9.3132257e-10
or 0.000000000931 or about 1 in a billion, but every day in a year gives you 3.39815e-7 or 0.00000034 or 1 in 3 million.
Compare that to lotto you chance is 1 in 10 million and prize is comparable.
The problem is not cashing in at earlier stage.
If you could automate in some way would be an interesting one to scratch a gambling itch.

Richard Hillman

If you put €1 on a 1/10 shot in the bookies and do it over and over again 100 times, you end up over 12k. Of course they all have win :pac:

Used to do it online, it's good fun if you do one bet a day and spend the evening trying to work out your 1/10 (or roughly 1/10) shot.

After 10 wins you have 2.36
20 - 6.12
30 - 15.86
40 - 41.14
50- 106
60 - 276
70 - 717
80 - 1862
90 - 4830
100 - 12527

Boom_Bap

oeb

It's easier to visualize the system like this.

You are matched with another player, a coin flip decides who takes the pot. On day one, each player has a pot on square 1 (1c).

On day two, if you won yesterdays coin flip, you now have a 2c stake (your original stake, plus the 1c you won from yesterdays opponent.), so you are now matched with someone who also won yesterday, and the winner of this flip comes out of it with 4c.

This continues until you run out of players.

The main issue here, to keep it going for 30 days, you would need like half a billion players. (And have a one in half a billion chance of winning it, which makes it worse by a long shot than winning the Irish lotto)

I can see the appeal from a players perspective, it gives players a better idea of 'closeness' e.g. "I was so close, I got to day 22".

[Deleted User]

Do you chose the heads or tails part? Or are you always on one or the other?

PARlance

Best of luck with it OP. I'll let you figure it out and do all the hard work.... I'll launch the 31 Day lotto then

Drumpot

Its an interesting idea. What is the percentage chance of winning the lottery or a significant amount from day 25 onwards ?

I had a different idea before and pitched it to the lotto long before they started to do it on some capacity more recently. Always have a guaranteed amount won by a random punter or punters.

Some examples:

-Lotto value up to 10 million - Next draw 10 random ticket holders win (that might take 3 draws to build it up to that level) if no 6 number winner
- Every lotto draw one random person wins €100,000 (or two win €50,000) - 104 people a year winning 100k.

It is similar to the millionaire raffle (which came out after I had suggested something similar)….

I know its greed and the enticement of a huge lump sum that reels some people in, but I think its a much better system where every time you buy a ticket you might win a significant by virtue of just actually having a ticket. You have the same chance as anybody with a ticket. I know they have a sh*tty watered down version of it, but I think this would be better TBH.

[Deleted User]

This is the JS for it. You can run it by pressing F12 or somewhere else.

If you lower the .5 to .2 or something, you can see it winning easily.

loop1:
for (var i = 0; i < 20000; i++) {
  loop2:
  for (var j = 0; j < 30; j++) {
    var flip = Math.random();
    if (flip > .5) {
      if (j === 29) {
        console.log("Wins after: " + i + " flips");
        break loop1;
      }
    } else {
      break loop2;
    }
  }
}

Outlaw Pete

I'm sticking with the nags. Playful Spirit easily wins the 4.00 @ Southwell.

Then all I'll need is just another 29 Even money shots and I'll be a multi millionaire!

4068ac1elhodqr

Deleted User wrote: »

No, that would require effort. I'm talking about an automated accumulator starting at 1c every day.

So the idea is that in the rest of your life, you could have 15k-20k of these accumulators happen, and if one of them manages to win the flip 30 times in a row, you get 5.4m. Your investment in those years is like e200.

Only very small issue is that the odds of predicting x30 coin flips correctly is 54,000,000+/1.
Then there's the operator cut usually 15% to pay.

artanevilla

Lobster Book wrote: »

From people's losses.

Of 1 cent? Doesn't come close to covering costs.

super_furry

You don't need 30 days, just go to a roulette wheel.