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> Now imagine the rules and procedures of an underground lottery. That's what makes it so fascinating. The bingo ball machine concept you describe requires a l
by Udo 7y ago
> Now imagine the rules and procedures of an underground lottery.
That's what makes it so fascinating. The bingo ball machine concept you describe requires a lot of trust, that's why so much effort has to go into continuous verification. As resiliency goes, this isn't really a feature.
The underground lottery is interesting precisely because it requires comparatively little trust, and the trust it does require is based on reputation and decentralization. For example, as a numbers player, you would be placing your bets with the same banker, one who you know has always paid out in the past, and who has personal ties to you and your neighborhood. The data source and hence the information about whether or not you won is public and hard to fake.
What makes numbers an illegal racket probably has more to do with low payout ratios and the fact that it's not linked in with the tax system (also, it's an unregulated chaos of private persons conducting it).
- Spooky23 7y agoThe difference is the numbers man works with the loan guy, and when you get in over your head, you get beat up.