121 sats \ 6 replies \ @WeAreAllSatoshi 24 Aug 2023 \ on: NFL Survivor Pool 2023- Buy-ins OPEN meta
We probably should have paid by invoice instead of zapping, since 10% goes to fees
Yes. My mistake. We will learn for next year. @ekzyis zapped up back the difference so we are whole right now after 7 entries. This account is also getting additional zaps and rewards so I am pretty sure by the time we crown a winner it will still have more sats than the prize pool payout even with the 10% fees.
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We may have to alter the winner payout method. We have 7 entries already and 9 other committed parties we are waiting plus potential re-buys for all players and any folks who express interest between now and Sept 4. Prize payout likely will be over 200k sats.
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Unless it somehow messes up payouts in some weirdly indivisible way, then I kind of don't mind the idea of partial buy in going back to the community rewards to be dispersed among other users of the site. Now 10% is too high and considering the winner (unless it's GrayRuby) will then also take a 10% pay cut upon receipt.
Secondarily, that would be an interesting feature, the ability for SN to change the fee based on certain events that may be deemed value generating for the site. Like I deposited funds specifically for this contest, fee generation that may never have been captured unless for competitions or events such as this. They can develop a site/section for community contests and competitions that are non-custodial and may not violate some online gambling laws. Kind of how I believe the poker site Blockchain.poker used to get around certain regulations. However, I also know nothing of the legal area I am talking about. But setting lower fees taken on events may encourage activity and potentially draw new users.
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Agreed but will make sure the prize pool is whole. Hopefully through zaps and rewards to NFL survivor account over the course of the contest. But I don't like the idea of shortchanging the winner (which will be me anyways) because of an oversight on my part. First year, first event of this type, I expect some bumps along the way.
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Yeah, I'd be willing to contribute a few sats if we needed to make up the difference.
I may have been a bit into the whiskey last night typing my response, but I am a bit stuck on the idea that SN or Nostr could be used for community competitions such as this. Where perhaps you zap your payment/entry fee into a verified/escrow/multisig account, the entry fee is lowered or completely zero, and then a low fee is applied to the winner distributions only. I think Blockchain.poker was legal since it was community members putting up the prize money and not a centralized entity, so anyone can create a game/competition and anyone can join. That could bring more users to the site/increase engagement and fee generation for SN, plus a larger fee reward pool for users. Idk, I just like gambling/competitions and I like the idea of it being more personal/social than gambling on some sportsbook.
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I think things will evolve. I am looking forward to seeing how things go with this pool. I could see someone eventually standing up a site hosted on nostr where users can create their own pools (doesn't have to be football- could be an office pool on when your co-worker is having a baby).
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