Sweepstakes: Random Drawing Prize
December 17, 2020•881 words
We already covered the basics of collectible digital stamps.
Earn Fantastic Chances to Win Cash
DigiPhi's digital collectible stamps are new and, we think, pretty neat. If you're a philatelist. What makes them even neater? Cash, the cold hard type.
You can buy a stamp or a sheet of them just to collect and trade as, we expect, many will. But we added a sweepstakes to them to help spread the fun. How's it work? Pretty easy.
Like a Free Lottery - Just Better
DigiPhi stamps are made of code that includes features that make each one of them 100% unique and impossible to counterfeit (unless you can harness all the computing power on the planet for millions of years, literally). The stamps are minted in batches, that are limited either by number sold or by date, called a Series (which limit is used is decided by the person who launches the Series). When the maximum number or the date is reached, sales of that Series end.
It's important to understand, this lottery-like feature is completely free. You buy the stamp because you like it, want to collect and trade digital stamps, or perhaps want to support the person or cause selling them. We decided to share our marketing budget with our collectors via the sweepstakes rather than spend it on an agency producing adverts. Hence the sweepstakes.
Winner Drawn at Random
When the sales of a given Series end, one stamp is drawn at random and awarded a cash prize. That means every stamp in the Series has the exact same chances of being drawn as any other.
Odds of Winning
The winner is drawn from the stamps that have been sold. So, unlike lotto-style games, there is always a winner and always just one winner. No prize sharing in this sweepstakes. It also means that the odds of winning are simple to calculate: 1 divided by the number of stamps sold. So, if there are 100 stamps sold the odds of winning are 1 in 100 (written 1:100). If 5,000 are sold the odds of winning are 1:5,000. Simple.
Prize Amount
The Random Drawing Prize is 25% of total sales in a given series. The price of a stamp is decided by the person launching the Series.
Note: All amounts are shown in US Dollars but they could be anything. Our system uses a digital currency called XLM which can be purchased or sold for US Dollars (USD), British Pounds (GBP), Czech Crowns (CZK) or any other global currency.
Learn more about using XLM with DigiPhi.We recomend that stamps be priced at the local equivalent of $2 and sheets for $8.
Prize Amounts and Odds Examples
| Stamps Sold | Odds of Winning | Sales in Series | Prize Amount |
|---|---|---|---|
| 50 | 1: 50 | $100 | $25 |
| 5,000 | 1: 5,000 | $10,000 | $2,500 |
| 250,000 | 1: 250,000 | $500,000 | $125,000 |
The odds might look bad until you compare them to regular lotteries. Then you'll see why our sweepstakes is better. The French Lotto is considered to have the best odds of major lottery games. Their odds of winning roughly similar amounts are:
| Odds | Prize Amount* |
|---|---|
| 1: 224 | $27 |
| 1: 86,677 | $2,518 |
| 1: 2,118,760 | $107,688 |
(Source: Euro-Jackpot)
A ticket for the French Lotto, however, costs about $7*. To compare apples to apples, the odds of winning similar amounts per dollar spent, let's look at the sweepstakes odds/prize table if we use $7 as the price per stamp (That pushes the prize amounts up so fewer stamps need to be sold to reach the same prize amounts. Fewer stamps means better odds).
| Stamps Sold | Odds of Winning | Sales in Series | Prize Amount |
|---|---|---|---|
| 15 | 1: 15 | $105 | $53 |
| 1,500 | 1: 1,500 | $10,500 | $2,625 |
| 70,000 | 1: 70,000 | $490,000 | $122,500 |
These odds are just crazy better, right? 1:15 vs 1:225 or 1:70 k vs 1:2,118 k? Nuts.
It Gets Even Better Though
Remember, the prize depends on the total stamps sold in the series, not just the ones you sell. As good as these odds are, our sweepstakes gets even better. The only way to improve your odds of winning a Lotto game is to buy more tickets. With our sweepstakes, you can improve your odds of winning by buying more in the same way. But if the reason you buy stamps is to play the sweepstakes you can earn chances of getting Seller Bonuses by selling stamps. If you buy a stamp you can double your odds of making some cash by selling one stamp! Yup - that means instead of 1: 100 you have 2:100, or 1: 50. If you sell 5 stamps that becomes 5: 50 or a crazy 1: 10!!!
As if that weren't enough, you can even earn a flat 10% commission on your sales whether you win or not.
Learn How to Make Money with the Bonuses and Commissions
* Actual cost & payout of the French Lotto is in EUR. USD calculated using the exchange rate as of this writing, 1EUR=$1.22)