I want this new type of lotto I thought of.

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.

how is a chart of money doubling every day a lotto?

Hector Savage

What;s going on ?

Sabre0001

I would also like free money

bluewolf

bluewolf wrote: »

how is a chart of money doubling every day a lotto?

True. Hmm, what would I call this then? Automated stupidity?

Hector Savage

Deleted User wrote: »

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.

OP I tried this allready, things were going great till about day 14 ...

Deleted User

Deleted User wrote: »

True. Hmm, what would I call this then? Automated stupidity?

What's automated about it? it's pictures of numbers?
is there supposed to be a system or something behind this?

Hector Savage

Hector Savage wrote: »

OP I tried this allready, things were going great till about day 14 ...

Yes, but one starts every day. So you can check in and egg them on.

bluewolf

bluewolf wrote: »

What's automated about it? it's pictures of numbers?
is there supposed to be a system or something behind this?

There's more than just a picture. You lodge e3.65 a year and every day, one cent starts the journey. A new flip each day for each surviving coin.

killanena

Where is the pot coming from though if everyone is just putting in a cent per day?

Outlaw Pete

Deleted User wrote: »

True. Hmm, what would I call this then? Automated stupidity?

It's an accumulator... but you need something which results in the doubling.

Like a horse at Evens. Keep backing horses at Even money, starting with your stake of €0.01 and then when you get 30 in a row, you'll have your €5.4m.

I bet you'll cash out long before that though.

Hector Savage

Now I'm really confused , is this some dodgy pyramid scheme ?

Deleted User

Deleted User wrote: »

There's more than just a picture. You lodge e3.65 a year and every day, one cent starts the journey. A new flip each day for each surviving coin.

Ok and who is promising this? where are you lodging 3.65?
by a new flip do you mean they are promising a 50/50 chance of double or nothing?
or is this all part of your system you're thinking up?

amdublin

SOMEONE PLEASE EXPLAIN HOW THIS MAKES MONEY!!

Timberrrrrrrr

Hector Savage wrote: »

Now I'm really confused , is this some dodgy pyramid scheme ?

Schemes are usually well thought through, this is a picture and a dream.

Wheety

I'd say you'd bottle putting €327 onto a horse. Nevermind when it gets higher.

Also, if you can find something that gives you true 50/50 odds let me know because any bookies will give you less than that even on a coin flip.

bluewolf

bluewolf wrote: »

Ok and who is promising this? where are you lodging 3.65?
by a new flip do you mean they are promising a 50/50 chance of double or nothing?

"I want this new type of lotto."

Any bookie could do it if they kept a percentage of the person who eventually wins. But anyways, it's just a thought.

Outlaw Pete

Outlaw Pete wrote: »

It's an accumulator... but you need something which results in the doubling.

Like a horse at Evens. Keep backing horses at Even money, starting with your stake of €0.01 and then when you get 30 in a row, you'll have your €5.4m.

I bet you'll cash out long before that though.

My idea is that you can't cash out. You just have one cent going at the big prize every day for the rest of your life.

amdublin

amdublin wrote: »

SOMEONE PLEASE EXPLAIN HOW THIS MAKES MONEY!!

It doesn't. It scratches a lotto itch in an interesting way for very cheap.

frag420

I bet this is a scam...any takers, 2-1??

facehugger99

Deleted User wrote: »

Yes, but one starts every day. So you can check in and egg them on.

I too would like free eggs.

Ken.

Mod-How to make money. ABG, deposit the sum of money for day 20 in to my bank account and I'll reopen this thread.

Amirani

Actually sounds like a somewhat interesting and disciplined approach to gambling if you restrict yourself to 1 cent a day.

The expected value of the game is still going to be negative, but probably more fun than most other lotteries.

Outlaw Pete

Deleted User wrote: »

My idea is that you can't cash out. You just have one cent going at the big prize every day for the rest of your life.

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

Are you saying that everyone just pays €3.65 a year and each day only one person's penny doubles and the rest go to zero?

You need to explain this further before I invest, Sir.

PARlance

Hector Savage wrote: »

OP I tried this allready, things were going great till about day 14 ...

You had to buy a Valentine's present with your winnings?

4068ac1elhodqr

Can't see anything wrong with this, fly to Vegas...

all on black,
all on red,
all on black,
all on...

bluewolf

bluewolf wrote: »

you haven't explained what 'it' is other than something about flipping.
and a picture of money

Every day, the customers have a coin either face up or face down in the system. The bookie flips a coin, and all coins he beats gets removed. The remaining coins move onto the next day. Meanwhile, everyone has a new coin starting this journey every day.

If the bookie fails to beat you repeatedly, and you get to the end, you win 5.4m.

Hector Savage

Hector Savage wrote: »

Now I'm really confused , is this some dodgy pyramid scheme ?

We should get in on it now while it’s all new. Guaranteed top spots!

Outlaw Pete

Outlaw Pete wrote: »

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

Are you saying that everyone just pays €3.65 a year and each day only one person's penny doubles and the rest go to zero?

You need to explain this further before I invest, Sir.

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

4068ac1elhodqr

I feel complied to offering 25% back to the OP, just out of decency from my 1st million.

Spend it wisely lad!
This time next month we'll be rich, rich I tell ye!

looksee

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.

Edit: Ah, answers while I was trying to figure it. Sounds like a helluva lot of admin. What happens if there are many more of the winning coin side than of the losing, how can everyone be paid out? I am not very good with figures, but doesn't this mess up the 50% thing? And do only the new coins get to choose a side? Does each new coin go into a new game? No, don't answer, I can't cope.

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.

looksee

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?

El_Bee

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?

PARlance

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

Strawberry Milkshake

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?

artanevilla

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