I really like this idea, and I can see where you could essentially function as a bank (make money off the deposits while paying out less than that in the EV of all winnings) as long as you are prepared to take any hit of variance (obviously not much variance in your prize structure though, especially with the big jackpot being pretty much in the realm of impossibility territory)
For those of us that enjoy variance - I wonder if you could make it so we could generate our own payout structure than could never get above what you are setting as "EV API"
Based on my back of the envelope calculations you are still running at less than 1% API, but I could be wrong (still need to run the exact numbers)
I'm not sure exactly how the legality works, and I understand that you need to make your money, but I do think it is an interesting (if not an MVP) option to allow advanced users to tinker with the amount of variance - perhaps I want to support your project in encouraging better savings but I want closer to no variance, perhaps I don't care about 1% a year but I want the chance of something more life changing...
That's really interesting. Something basic we could do is allow users to toggle between getting a guaranteed return or more tickets. It wouldn't change the payouts, but it would change your own variance. It's not as flexible as what you describe though. Will think more on this.
For those of us that enjoy variance - I wonder if you could make it so we could generate our own payout structure than could never get above what you are setting as "EV API"
Based on my back of the envelope calculations you are still running at less than 1% API, but I could be wrong (still need to run the exact numbers)
I'm not sure exactly how the legality works, and I understand that you need to make your money, but I do think it is an interesting (if not an MVP) option to allow advanced users to tinker with the amount of variance - perhaps I want to support your project in encouraging better savings but I want closer to no variance, perhaps I don't care about 1% a year but I want the chance of something more life changing...