Sweepstakes Pool Ideas



  • So I have the idea to run a sweepstakes pool, which I’m sure is not original, but came to me while trying to think of an original proposal for and Ark node. It’s the same idea as a pool, just paid out to one random user each day, instead of split to everyone. If there are 20 people in the pool with equal amounts - each day you have a 1 in 20 chance of winning the pool rewards.

    I’m working on the idea that a sweepstakes pool is a great way to bring people into the Ark system, build buzz and spread the word. For some people, coming in for .05 Ark a day might not be so motivating - but for a good chance to take 200 coins - that guy is surely going to tell his friends. It’s also going to be addictive for some.

    If anyone have experience with this that they could offer, I would be happy to hear it.

    As for how it would work, my first thought is weight the votes based on. Ark balance / 1000 = # of entries per user. I know there are auto script payouts. I would think they could be modified to randomly auto payout to one winner. There are some third party sites doing random drawings and looks like @cannabanana use it for and ark sweepstakes.



  • Hey @semipro, I thought about doing this for a while.

    It’s an interesting idea because it brings the “solo mining” concept to DPoS - there’s always a chance that a smaller voter can earn a lot if they’re lucky, compared to small regular payouts like most pools.

    You could even go as far as to linking it into some kind of lottery, where users can pay for entries, but can’t or don’t want to sacrifice an existing vote for a delegate that they already support. Any paid entries could go directly into the the prize pot, which could mean massive payouts if enough people were interested. You’d have to play around with the numbers, but when I was thinking about it, something like a 10,000 ARK vote = 1 entry, while a paid vote (where the funds are actually sent to your delegate and are added on top of the prize pool) could be something like 10 ARK = 1 entry.

    There’s a few sites online that you can use to pick a random winners and publish the URL for people to look at. I’ll try and find the link, but I know there’s one that shows how many draws you’ve made and the history of each one, meaning you can prove that you didn’t try to fake a winner by picking over and over again to get the right (forged) result.

    Something else you’d have to think about is vote hopping. You’d have to keep track of who voted when, so that a last minute vote has a far lower chance of winning than someone who’s voted for you all week, for example.

    Feel free to bounce ideas around :relaxed:



  • So lottery and sweepstakes have different legal implications. Lottery is ‘pay to play’ and sweepstakes is ‘no risk of loss’. I’m a bit nervous to touch the lottery side of things without looking into the legal side a bit more.

    Since payouts in sweepstakes pool are exactly the same as pool mining, yeah, I guess it does give it a solo miner feel as solo miners have to get lucky to get block rewards. For completely logical people - you’d join a pool to spread your risk.

    But the world is not made of logical people - proof: casinos exist. That means enough of a market for a sweepstakes pool. But since Crypto is a fiefdom of the more logical geeks in the world, standard shared risk pools are obviously going to be more popular for now. So the point of a sweepstakes pool is to attract the casino going population to Ark coin - the kind of people any coin needs to really grow.

    @dafty to your idea on pay to play. I was thinking of a way to get non Ark holders into the system - using a sweepstakes system. Maybe use 1% of the rewards to get people with no Ark wallet, into the free drawing. Basically used as an awareness builder.

    Lets say a pool voter votes for semipro pool with 123,456 Ark coin. I’d like to be able to run a script at a random time to divide the balance by 1000. So that gives 123.456 entries for that user. Might be more readable to stick to whole numbers and give them 123 entries in the sweepstakes. If voter 2 comes with 2,000, they’d have 2 entries. Taking 125 as the total - voter 2 has a 1.5748% chance of winning each day - or a likely win once every 63 days.

    For vote hoping, maybe the 1+1 ARK fee might be enough disincentive for some. Also random time on when the sweepstake winner was picked would be the other factor. Another limiter could be a 24h hour requirement. “All voters present in the previous 24 hours”.

    A major key here would be publishing the winners, building hype. At minimum a public page for people to check winners. Better - daily announcements and ways for them to share their win. My only problem with an auto pay to an ARK address is it’s kind of anti-climatic. "And today’s winner is: ‘AcD5rFz1KGi2Qs94f6JBdo4rbQ8wLMmJtW’ " doesn’t have much of a ring to it. :confused: .





  • @densmirnov I did check it out. Have you been running something like this before Ark?



  • @semipro said in Sweepstakes Pool Ideas:

    @densmirnov I did check it out. Have you been running something like this before Ark?

    Yes, It was initially developed for Lisk and currently Lisk version is in closed beta



  • @densmirnov So if I understand it right, you’ve got a lottery where you PAY 20 Ark for a chance to win 80% of the total deposits for the week. So this is a pure lottery. Seems like you can do this without being a delegate or running a node.

    But then there is a voting component, where you’re also asking for delegate votes? Is that kind of an extra program - just nice if you’re in?



  • @semipro said in Sweepstakes Pool Ideas:

    @densmirnov So if I understand it right, you’ve got a lottery where you PAY 20 Ark for a chance to win 80% of the total deposits for the week. So this is a pure lottery. Seems like you can do this without being a delegate or running a node.

    But then there is a voting component, where you’re also asking for delegate votes? Is that kind of an extra program - just nice if you’re in?

    Yes, you’re right — it’s a lottery, but with an extra option to get some tickets and a chance to win the prize completely free — you just need to vote for ark_lottery delegate and you will receive some free tickets, depending of your voting weight, every week! You will participate on an equal basis with all other participants who bought tickets.


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