LottoShares WILL Accept bitUSD For Contributions

[unreadPostsSinceLastVisit]

St Martin has a population of 77,791 people. Seems like an awful lot of tickets per person to produce 30,000,000 in revenue.

It's an online lottery, right? Just "based" in SM? Theoretically, someone in another jurisdiction could play, though I'd discourage it if it were illegal in yours.

http://www.fantasysxm.com/register

That's the website for Fantasy, the one we'd be buying into. I think. It seems to only be willing to let you register if you're in St. Martin

edit: or maybe it's just asking what base country you want to play out of, and there's only one option at the moment?

but the 30,000,000 figure was quoted for a competitor. Maybe this one?
http://www.thecaribbeanlottery.com/stmaarten_retailers

In which case the answer to your question is no, it's not online.

Perhaps some of the extra could come from tourism? Maybe I'm missing something else. I'm not trying to piss on the parade here, just asking questions.

[donkeypong]

St Martin has a population of 77,791 people. Seems like an awful lot of tickets per person to produce 30,000,000 in revenue.

It's an online lottery, right? Just "based" in SM? Theoretically, someone in another jurisdiction could play, though I'd discourage it if it were illegal in yours.

[BunkerChainLabs-DataSecurityNode]

Great choice to move to bitUSD! Thank you for this! 

[unreadPostsSinceLastVisit]

St Martin has a population of 77,791 people. Seems like an awful lot of tickets per person to produce 30,000,000 in revenue.

How much does a ticket go for currently?

If they're a dollar per ticket and everybody on the island buys a ticket per month (even though some can't because they're children) that comes out to 933,492.

Rounding up to a million because I'm using old census data and some people may buy multiple tickets.

(I do realize I'm talking about the other lottery on the island)

[Akado]

Out of curiosity does anyone know the revenue of any known lotteries? What places are you thinking to expand to? Nearby regions? How much do any lotteries on those regions generate in revenue? Since I only know EuroMillions from Europe. Would be interesting to know more about that market in other regions if anyone has the knowledge.

Does Fantasy has other businesses other than lotto? If yes,
Do FantasyLotto 3 partners (all except lottoshares holders) also have a stake on those businesses?

[Murderistic]

Should be pretty obvious to do so after what happened to Ethereum

You are damn right there.

SO would you brilliant fellows suggest we liquidate btc daily for bitUSD?

Definitely convert to bitUSD from btc daily... I'm sure your business plan is to make money via the lotto, not speculating on bitcoin.  If bitcoin were to go up and you made money it would be luck, and real business's don't run on luck.

Agreed on all counts.  Thanks for the perspective.  I also updated the OP with details Akado mentioned.

Thanks for the feedback gents.   

[lil_jay890]

Should be pretty obvious to do so after what happened to Ethereum

You are damn right there.

SO would you brilliant fellows suggest we liquidate btc daily for bitUSD?

Definitely convert to bitUSD from btc daily... I'm sure your business plan is to make money via the lotto, not speculating on bitcoin.  If bitcoin were to go up and you made money it would be luck, and real business's don't run on luck.

[Akado]

Should be pretty obvious to do so after what happened to Ethereum

You are damn right there.

SO would you brilliant fellows suggest we liquidate btc daily for bitUSD?

Since there's 90 days I guess you could wait maybe 2 weeks or so to see how the peg works out on 2.0 and whenever you feel confident, trade the btc into bitUSD and/or other stable bitAssets.

Also would be nice if you could post some info regarding what you talked about in the interview. Namely that you don't need the full $500,000 to be fully functional, that each share is 80cent and after a certain number 250,000? (correct me) they would go to $1,25 or $1,20. Feel free to correct me those numbers might not be 100% correct. Sales end January 1st 2016 and shares are sharedropped into the wallet and on April 1st (possibly the 2nd lel) shares will get unlocked for trading in the markets. Feel free to correct me. Thought it would be nice to share this, could get more ppl interested.

And also that the only other lottery on the island makes $30M/year... If you could get even 5% of that 

[Murderistic]

Should be pretty obvious to do so after what happened to Ethereum

You are damn right there.

SO would you brilliant fellows suggest we liquidate btc daily for bitUSD?

[Akado]

Should be pretty obvious to do so after what happened to Ethereum

[Murderistic]

We should have the contribution tab setup to accept bitUSD by Monday.

I took DataSecurityNode's advice and got it ready to setup and rock.

BitShares wallet = lottosharesdonations   (not active until next week)

We are already seeing contributions, and the timer is now active as of today.

See the replay and walkthrough here: http://linksfrom.us/lottoshares-replay

"Shares" will be dropped into contributors wallets on Jan 1, 2016.

Monthly Buyback of LottoShares will begin on April 2016.

Please spread the word, and prove to the world that BITASSETS and BLOCKCHAIN are here to stay, and we aim to change the world one way or another.

Remember, that LottoShares are assets on the BitShares network, and can be traded in many different pairs once shares are unlocked for trade.

Here is how the LottoShares work:
First 250,000 shares are priced at $.80
Remaining 250,000 shares will be priced at $1.20

Start Date: October 1, 2015
Shares dropped to participants on Jan 1, 2016
Shares unlocked for trade, sale, buyback on April 1, 2016
Buyback date (TENTATIVE) will likely be the 28th of every month starting on April 28th, 2016

Intent For Funds Raised:
We are raising $500,000 total for funds to expand lottery to Bahamas, and pay for dev work to create the first physical lottery with physical customers ran on the blockchain.

Once we raise $150,000, we are initiating the start of the plan, which is to hire 3x more staff and more locations on island.

Even if we do not reach $500k raised, as long as we hit $150k it is a go.

If we can only Raise 150k, it will take longer to expand and to dev the blockchain lottery, but we will commit to doing that either way - it will just take much longer to get it dev'd out.

There is only 1 other lottery on the island, and they bring in $30,000,000 per year in revenue.  Even just a small percentage of that becomes an epic win.

Let me know if you have any questions, or write us here at info [at] lottoshares.com