What is Bitcoin Online Lottery Games: Cryptocurrency Lotteries – What You Should Know

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Cryptocurrencies appear to be gradually seeping into a lot of different areas of our day to day lives. So, it is not surprising that we currently have Lotto jackpots which are using bitcoin as their prize.

As the name indicates, Bitcoin Lotto is the first ‘regulated Bitcoin jackpot’ which is unique to LottoLand. It enables users to earn prizes in the form of crypto assets instead of standard fiat currencies.

Concerning offerings, the lotto supplier says that if the owner of a ticket matches any six digits, he/she qualifies for a significant payout amount of 1055 BTC jackpot. In mathematical terms, this Bitcoin volume is an entire €14.5m.

BitCoin Lotto Difference

Standard lotto uses almost 40% to 50% of our incomes as taxes, but this latest crypto lotto will enable us to retain our entire earnings (because Bitcoin is exempted from standard taxation laws). Apart from this, this new lotto’s payout scheme is very advanced also and lets us withdraw our entire money into our digital wallet instantly. Alternatively, winners can obtain cash which is equal to their winnings, according to their preference.

Other Vital Considerations

Increasing Winnings

To promote this exceptional ‘Bitcoin jackpot’ Lottoland says it is setting up a distribution model which facilitates a rise in winnings as time advances. Additionally, they also have plans to distribute numerous other incentives which users can access by just matching two numbers or more.

Flexible Payouts

As said before, you can obtain payments in the form of hard cash or cryptocurrencies. Other than this, many experts anticipate that the Bitcoin value is expected to go on increasing until 2021. The jackpot’s overall value is also going to rise continuously.

Playing is easy

The game is simple and provides customers with great winning odds. All users need to do to pay is select six figures and press the submit button. A ‘QuickPick’ option is available also which enables the production of random numbers and chosen for us.

Higher Odds

The firm’s website indicates that the odds of becoming a winner of BitCoin Lotto are ten times more compared to Euro Lotto odds. The firm also says that statistics show that ‘in overall there is a 1 in 7 chance of becoming a prizewinner’ when you play this lotto. But there is no proof of these claims since no factual information was provided to back it.

Expertise is not necessary

You may think that you need significant technical awareness to play this game, but the reality is very different. Rather than you having to carry out any complex work, all users are requested to select six figures, and that’s all.

Signing up for BitCoin Lotto

If you want to play, go to the website and adhere to the instructions given there.  To play you need to have a valid bank account or a bitcoin wallet. In case you have other questions, you can contact company officials through email.

Types of Lotto Games You can play with BTC

BTC lotto games are available in three flavours; keno, prize, and dice draw.

The most famous kinds of bitcoin lotteries are known as ‘dice games.’ They can be described as instant lotteries; here, you fix your winning odds. Low odds increase the potential of your payout.  After you set the odds, you choose the amount you want to wager. You need to press a button to find out whether you lost or won.

You can play keno also on 1xBit which is a standard lotto game. Select your figures and check the number of them which match numbers that are drawn randomly. As the matches increase you win more. A user can play keno as a replicated game or at a live dealer casino with live dealers.

A lot of sites which accept bitcoin present random prize draws. The major one is Bitcasino’s lottery which offers daily, weekly as well as monthly lotto draws. These draws are unique because someone has to win (one winning ticket will be available).

The Ideal Bitcoin Lottery

The ideal ones are either Betcoin or Prime Dice; your precise requirements determine it. These two bitcoin lotteries are highly recommended. If you wish for an uncomplicated lottery game, opt for Dice. Visit the site and begin gambling immediately. The game is easy since you deposit and cash out then start playing right away.

Betcoin ranks top among the 2017 best lottery sites if you want to play other games also. Betcoin presents a lottery game and different kinds of gambling. When you are not playing the instant lottery in the site, you can have fun playing other available gambling games like blackjack, roulette, lotto games like UK49s betting, and different casino games, slots, and sports betting also.

Do BTC Lottery Pools or Syndicates Exist?

They are not available because they are unnecessary. The reason is that you can play lotteries where you fix your own odds. A syndicate or lottery pool as it is mainly referred to in the UK describes a lottery plan where a team of lottery players combine their money and purchase numerous tickets for a joint stake of the possible profit.

Usually, syndicates or pools work to raise your winning odds and decrease the quantity of cash you can win. For instance, ten individuals could each purchase one ticket. Or for a winning chance that is ten times higher, they could combine their cash, buy ten tickets and reach an agreement that each person qualifies for 1/10th of their winnings.

Purchasing their tickets together raises the winning chances and decreases the sum every syndicate player can win. Where bitcoin lotteries are concerned, pools such are these are not necessary. There are many dice games and BTC lottery where you can set your winning odds. Since you fix your odds, it is not essential for you to join a syndicate. If you want to play using increased odds (and less potential winnings) fix the winning odds higher on the game that you are playing.

Are Bitcoin Lotteries Lawful?

Bitcoin lotteries are legal. Playing bitcoin lotteries is similar to playing lotteries that play money which is legal. Also, many bitcoin lottery sites possess a gambling license from a jurisdiction where making bets, for instance in Litecoin and Bitcoin is legal. Bitcoin lotteries become illegal if you play in a state that explicitly prohibits them. In such an instance, you should stop gambling.