- What is BitDraw?
- BitDraw is a Bitcoin-based raffle and lottery games site.
- What is Token (TKN)?
- Tokens are what Bitdraw issues to users upon a Bitcoin deposit and are used to purchase tickets to the games. Tokens can be withdrawn as Bitcoin at any time.
- What is the exchange rate?
- 1 Bitcoin = 1000 TKN.
- Why Tokens?
- BitDraw uses an intra-site virtual currency called Tokens (TKN) for a number of reasons. First, because the site employs an offline wallet and is technologically separate from the wallet, we wanted to abstract the gaming currency as well since there is no direct use of BTC by the site. Also, many games are quite inexpensive to play. If the site used BTC directly, many ticket prices would be in the micro-BTC range whereas with the token currency abstraction prices are much more user friendly, such as 1 TKN, 10 TKN, etc., instead of 0.001 BTC, 0.010 BTC, and so forth.
- Are my Bitcoins safe while deposited at BitDraw?
- Bitcoins deposited at BitDraw are sent to an offline wallet and withdrawals are processed manually and only after the withdrawal is confirmed by the user via email. While a bit slower than instant withdrawal, your Bitcoins are completely safe in the event that the BitDraw site itself is hacked or becomes otherwise compromised.
- What is the BitDraw password policy and how are passwords stored?
- The password policy requires passwords to be 12 characters long, and have at least one upper case character, one lower case character, one number and one symbol. Passwords are stored as a salted SHA-512 hash.
- What is the difference between a raffle and a lottery?
- Raffle games are games where the winner is chosen from among the tickets that were sold to the game. As such, there is always a winner of every raffle game when it closes. Lottery games are games where the winner has pre-selected the winning values that the lottery game randomly draws when it closes. In the case of lottery games, there may not be a winner every time a game closes, and the prize from any games with no winner roll over to the next iteration of that game.
- How do you choose your winning raffle tickets and lottery values?
- For all games, the winning ticket is chosen by using random.org. If necessary, the site will fallback to using Ruby's built in
Random.rand function if necessary, with a time + process based seed.
- Why do the Estimated Jackpots change?
With the exception of non-TKN raffles, the jackpots for all games are paid out in Tokens (TKN). When players purchase tickets to these games, a percentage of every ticket sale is contributed to the jackpot for that game. In some cases the jackpot amount must be rounded to the nearest TKN, so the jackpots are listed as estimates. The contributions from each sale to the jackpots are as follows:
– 80% is contributed to the Jackpot of the current game.
is contributed to the Jackpot of the current game.
is contributed to the Jackpot of the next game.
- Single Ticket Odds
- While a game is running, the Single Ticket Odds display what the odds are for the next ticket sold. Note the odds of a particular raffle ticket winning decrease as more tickets are sold, while for lotteries the odds remain constant. Once the game finishes, the odds of winning that raffle or lottery with one ticket are shown.