If CAKE in the prize pools isn't won it doesn't go to waste! Unclaimed CAKE rolls over to the next Lottery round.
Lottery v2 distributes prizes more widely than Lottery v1. It gives each ticket a 1 in 10 chance to match the first number, which means more tickets will at least win a small prize. It also has 6 (up from 4) numbers that need to be matched sequentially to win the biggest prize.
Overall this means more tickets can win a prize, but the largest prize jackpot will be won less frequently, making for huge top prize pools!
Lottery v2 introduces:
- cheaper ticket prices (~$5 USD in CAKE per ticket) that don't swing wildly with the price of CAKE
- bulk ticket discounts
- 6-tiered prize pool brackets with increasing prize pools as more numbers are matched
- manual number selection (optional), so users can use their lucky numbers
Each bracket's prize pool is a portion of the total CAKE in each Lottery round.
No, once purchased you will not be able to convert your ticket back to CAKE.
Yes, you will need to click the Check Now button under "Are you a winner?" on the Lottery page.
A lottery draw occurs every 12 or 36 hours. One lottery draw occurs every day alternating between 0 AM UTC and 12 PM UTC, next rounds after the 0 AM UTC rounds will be after 36 hours, next rounds after the 12 PM UTC rounds will be after 12 hours.
Lottery injection schedule
Every ticket purchase you make will be one transaction. Purchasing a single ticket in a Lottery purchase will cost the normal amount of fees for a transaction.
However, buying more tickets in that purchase will increase the fee. Buying 100 tickets rather than 1 will not multiply the fee by 100, but may increase the fee amount by 5-6 times (though this varies).
The bulk discount rewards buying larger amounts of tickets with a scaling discount. If you're only buying 2 tickets, the discount is negligible, but will add up quickly as you increase the number of tickets to buy in one transaction.
The discount only applies to each transaction up to 100 tickets. The discount does not carry over to the next transaction or next round.
You can only buy a maximum of 100 tickets in one purchase, but you can make multiple purchases. There's nothing to stop you buying more tickets after your first 100.
Yes, each ticket is treated as a separate entry to the Lottery. Keep in mind that the prizes will not be 1:1 though, as each winning ticket you have dilutes each share of the bracket's total prizes.
When people buy tickets, the CAKE they spend is added to the lottery pot. In addition, 8,000 CAKE is also added (injected) to the lottery pot every other round on a regular schedule over the course of seven rounds per week as shown above in the lottery schedule figure.