A No-Loss Lottery

Posted by rbanffy on Tuesday June 25, 2019 @09:26AM
from the pooltogether.us dept.

https://www.pooltogether.us/how-it-works

( 5 comments | 7 points | on HN )

Re:A No-Loss Lottery by FearNotDaniel on Tuesday June 25, 2019 @07:55PM (#20280538)

So, much like a Premium Bond, then. These have been issued by the UK government since 1956, using an "electronic random number generator" that originally used vacuum tubes as a source of randomness...

https://en.m.wikipedia.org/wiki/Premium_Bond

[ Parent | on HN ]

Re:A No-Loss Lottery by GreenJelloShot on Wednesday June 26, 2019 @06:06PM (#20289732)

If lending money on compound.finance is a 100% safe and guaranteed way to make money, why bother joining the pool? Why not just directly lend your own money yourself and get 100% of the profits 100% of the time?

[ Parent | on HN ]

Re:A No-Loss Lottery by dr_dshiv on Tuesday June 25, 2019 @06:51PM (#20279946)

This is very interesting. Seems like a good way to get people to save.

[ Parent | on HN ]

Re:A No-Loss Lottery by altec3 on Tuesday June 25, 2019 @07:49PM (#20280486)

Some banks even offer savings account that do the same thing - https://en.wikipedia.org/wiki/Prize-linked_savings_account

[ Parent | on HN ]

Re:A No-Loss Lottery by JaleDarvis on Tuesday June 25, 2019 @11:39PM (#20281698)

The crypto articles are coming in fast.

[ Parent | on HN ]