Prize Detail

The Price of a Lottery ticket

Vottery comprises of 2 types of ticket: Stake ticket and Purchase ticket, therefore each of them have different price depending on how much token users have staked or purchased.

Stake ticket:

$$stakePerTicket= \frac{TotalBondedToken*10\%}{1000000} * 60\%$$

Purchase ticket:

$$ticketPrice=stakePerTicket*20\%$$

Expected prize calculation

Unlike some lotteries which pay out a fixed prize based on a number of matches (i.e. a fixed $50 for a ticket with 3 consecutive matches), we pay out a variable amount depending on the pool size (and for the jackpots on number of winning tickets). In the unlikely event of many fewer winning tickets than expected for a given week, each winner will receive a larger prize than expected. Similarly, in the unlikely event of many more winning tickets than expected for a given week, each winner will receive a smaller prize than expected.

$$reward = \displaystyle\sum_{i=1}^6 \frac{totalReward * allocationPercent(i)}{winners(i)}$$