As soon as you hit “chance to win $100,000” you ran afoul of gambling laws.
Nope, this was all CCP.
There has to be a cost for putting these up that isn’t recoverable. If there isn’t, you’ll see both a massive amount of spam hypernets that just clog up the system and keep getting thrown up again and again, and you’re also likely to see more use of the system for RMT, because there’s no actual cost to the system. The majority of the lost hypercores are going to come from sales that don’t go through, not from the ones that do, and that is removing both isk and/or plex from the economy, which is a good thing.
Think of the hypercores as the “broker fee” for the transaction. It needs to be non-refundable. This also makes people put fairer deals up because they want a raffle to complete and not lose the “broker fee”.
Wow. I’m bummed. I didn’t think CCP would have thought this was a good idea.
Why wouldn’t they? This was something that was wildly popular during EVE’s Golden Age.
EVE’s best days are yet to come.
Not this exactly. Also popularity was so high really? It was all outside game. I wonder what percent of players actually used those sites.
A lot of people in this forum have asserted that the hypernet relay is exploitative. I disagree, but I have no doubt that it will cause problems for some people nonetheless. So, I decided to make a video about addiction and recovery. I’m a recovering alcoholic myself, but much of what I had to say is relevant to addicts of all types (including gambling).
Hey come to Jita and see the spam @Shipwreck_Jones
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You are disgusting @Brisc_Rubal
Its even worse than that.
Take into account the cost related to the hypercores and then the 5% listing fee. By the time you add those together and item of any value costs more in cores and listing fee, than the actual item.
The amount of cores require to list an item over 15mil grow at a weird rate. And a item over 8bil costs over 90plex in cores alone. Then add the 5%, the seller ether has to add that cost to their item (which in turn increases the number of cores and the list fee futher), or take a lose from item payout to cover the listing costs.
Add to that its only a 3day listing and if it fails to be won the lister looses all the cores and listing fee.
If it is won, the list still used the cores a fees to put the item up.
As a buyer its a win win situation, you get the chance of winning an item for 1/512 its list value, but a 1/512 of winning, or you with a high chance by increase the number of tickets or go for a 1/8 chance item. Both will cost more, and if you win its worth it, if you loose, well what you put in it lost.
But as a buyer if the item fails to get the ticket numbers you still get your isk back,where the lister doesn’t.
This is a bit inaccurate as it’s assuming that the “seller” is not making a profit, which of course isn’t the case. So for a 120M item let’s say, they seller puts-up 16 tickets at 10M each to make a bit of profit.
So the buy now has a 6.25% chance to win. The reality is that after play this 12 times, statistically they are only breaking even if they win on that draw. To put it another way, they have a 25% chance to loss money over time at this specific draw (if they played until they won or 16 times, whichever came first).
Because the actual ticket price does not accurately represent the true value of the item being won, the “buyer” is actually at quite a disadvantage (sometimes).
Not sure where you’ve accounted for the hypercores or the 5% listing fee in you calculations!
Buyers only loose their isk if someone else wins it.
The seller gets all the bidder/buyers isk from everyone that brought a ticket.
So 1/512 for the winner is nothing, and a looser with 1/512 chance of winning only looses that 1/512 of the total pool value.
You must have thought the seller/lister only gets what the winner put in. Raffles don’t work that way. List gets all the funds from ticket purchases.
Only difference with CCP’s version is if all tickets aren’t sold the item expires and returned to lister minus hypercores and listing fee that were original spent to list item, ticket buyers get 100% of ticket purchases back.
Real world,the raffle continues. Lister gets money from tickets minus any costs, and item raffled till a ticket that has been purchased has been drawn.
I’m not talking about the lister/seller/host/whatever…
Yes so if the player/buyer does it 12 times in my example, they have paid as much for what a new one would have cot in the first place…and that’s a 25% chance of happening.
The point is that when the actual value of an item is far from the total raffle value (ie tickets) then the “risk” increase for the buyer of the tickets or the value of the tickets decreases, whichever you want to take that…
Well you need to account for the listers costs.
A ticket buyer will only buy tickets for something they want, and only invest what they think is worth to gain it.
You could buy 8 tickets for an item that has 8 tickets and instant win, but it has to be seen as worth the cost of all the tickets.
The more tickets available the lower the chance of winning without purchasing more tickets.
So if one ticket was brought from a specific number of tickets this is the chances of winning.
1-512 = 0.1953125%
1-48 = 2.08333333%
1-16 = 6.25%
1-8 = 12.5%
The more tickets purchased by a buyer the better the chance of winning. From a listers point the more ticket sold the better the return, but also the higher the risk of raffle failure if they all don’t sell.
Sure the more tickets available dereases the individual ticket prices. But at the same increases the isk return. To confirm this go do a buy all on a raffle and compare the total price vs and equal valued lower ticket number raffle.
You’ll see the lower ticket raffles are cheaper to purchase outright vs the higher ticket number raffles, even though the individual tickets are cheaper.
You are totally not getting my point. Here, pick the better option for the buyer:
Lotto A:
80M ship in Jita
8 tickets for 10M each
Lotto B:
80M ship in Jita
8 tickets for 20M each
The “win win” situations for the buyer you initially said are not all created equal.
Think you also missed my points.
A winner will almost always come out better as individual tickets in most cases are cheaper than a outright market purchase.
But the point i was pointing out is the more tickets on a item the lower your chances, yes the individual tickets will be cheap. The more tickets you get increases your chances of winning and cost, and here’s the point players will buy tickets to a value point they believe is good value.
Now the other point is the lose, if a player brought heaps of tickets and looses the raffle they lose every isk the spent on tickets.
This is a lie. I totally showered today.
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Enough so that the guys who ran the sites were making trillions of isk, way back before supercap ratting and Rorquals.