BitPlay Exposed — Is It Really Fair Bitcoin Lottery?
With a tagline of “Provably fair Bitcoin lottery based on blockchain!” I was curious about how BitPlay.club’s game worked. This is a proprietary lottery game where players pick 6 numbers from 1 to 45 for each ticket line. The game is for bitcoins (BTC) which have a fluctuating exchange rate to other currencies. That all seems very straightforward right? Let’s go see it.
Here’s why 24Lottos may be a better option than BitPlay Club
The Game at BitPlay.club
BitPlay Club offers a proprietary lottery game. Players can use their favorite six numbers between 1 and 45 or can use one of the systems to select ticket lines. The system options are to pick numbers randomly, or you can choose frequent or rare numbers. One ticket line costs 0.0001 BTC (about US $1.58 at today’s exchange rate). Subscriptions are available for up to 6 draws and you can play as many ticket lines as you want. The game is played at 08:00 UTC (that’s Universal Time otherwise known as GMT) with the results posted within two hours. Drawing winning numbers use a blockchain format. There is a referral program to encourage more players.
BitPlay Club’s System Game
There is also a “System Game” which generates “every possible combination of the chosen numbers”. Players choose between 6 to 12 numbers. BitPlay.club uses the example of 7 tickets of 6 numbers which cost the price of 7 tickets. Play 12 numbers and you’re looking at 0.0924 BTC (or US $ 1449.68). Some people believe this type of system increases the probability of winning something.
What Do You Win?
Ticket sales are split 60% towards prizes and 40% to management (service charges, referral awards, marketing & promotion). Okay, then 30% of the 60% prize money goes towards increasing the jackpot. Matching 2 numbers get 0.0001 BTC which means you get your money back. 3 numbers get you 25% of the 30% of ticket sales, 4 numbers get 33%, 5 get 42% and 6 get the jackpot (remember the 30% that came off the prize money at the start. When a jackpot isn’t won, it rolls over. BitPlay Club can take part of the not won jackpot as commission to have “reserve funds” up to 50%.
Getting your Winnings at BitPlay.club
Winnings are deposited directly into your account. Oh ya – and of course, you’ve got to deposit into your account to play. There is no information on how you withdraw your bitcoins.
Who Can Play?
On the fact of BitPlay.club’s website it is clear that US and Canadian residents can’t play here. There don’t appear to be any other restrictions.
Talking to BitPlay Club
They have an online form, an email address, and a telephone number.
One More Thing
Looking at BitPlay Club’s web page, I got to wondering about the exchange rate they have posted for BTC to USD. The latest jackpot is shown at $58,195 to the BTC jackpot. I did the exchange on a currency site and got about US $5,000 more. Then again, that is one of the challenges relating to bitcoins. Over the last two months, it has bounced from 1 BTC equal to US $7,000, up to just over US $20,000, and then back down to around $15,000.
Why You Should Register with Bit Play Club
Good Odds on a 1 to 45 Number Game
Good Prize Tier
Why You Shouldn’t Register with Bit Play Club
Not for Canadians or Americans
Low Jackpot – For Now
Is BitPlay Club Legit?
If you’re into playing games with bitcoins, then this could be a good site. It is early days for the jackpot (only on their 22nd game) so it could grow depending on the number of people who play. The referral program might help with this.
Right now BitPlay Club doesn’t get a thumbs up or thumbs down. It will be interesting to see how quickly the jackpot grows which is dependent on how many people are playing. Well, that and the actual value of bitcoins.
I purchased 3 tickets here and won nothing so I withdrew the rest of my deposit. Well, at least they let me withdraw my deposit without any hassle. I might play again there, BTC seems to be recovering so who knows, maybe I can grab that jackpot!!!