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Playloteo - Loteo is a Platform That Uses Blockchain And Smart Contracts

Saturday, May 25, 2019

About Playloteo

Playloteo is an automatic digital lottery that is achieved through code as a substitute for being run by way of people. The lottery will, first on a weekly, and later on each day basis, draw a random Ethereum address from a pool of users. The draw will be based on a random range era machine that will have a publically-viewable code on GitHub and also on Ethereum Network. The winner shall acquire 75% of the prize pool as a reward, which will be sent to their Ethereum address.

Not only will Playloteo make this structure of gambling accessible to more humans than ever, but it will additionally address the issue of having faith as it will be done via a smart contract, the code of which will be publically-viewable on GitHub and also on Ethereum Network. Through a mixture of international reach, transparency, and automation, LOTEO goals to turn out to be the enterprise general in the rising market for digital lotteries.

Global lottery

Online lotteries are an mounted industry, having existed in some form given that at least 19975. The world online lottery market is estimated to reach revenues of extra than $10 billion by way of 2023, growing at a CAGR of round 8% between 2019-2023.

Future outlook

Global trends such as the lengthy term amplify of cell smartphone penetration, internet penetration and the proliferation of blockchain applied sciences will furnish best conditions for the increase of the on-line playing market, together with the on-line lottery industry.

Growth will be pushed by the upward shove of draw-based video games and scratch-off immediately video games across European countries as properly as other developed regions. The increasing center of attention on funding in new applied sciences (including blockchain), enhancing the understanding of lotteries, and achieving far-away audiences by way of the internet will propel the transformation of the market.


Current issues

Lotteries, like any structure of gambling, can be manipulated in opposition to its participants, in spite of the high degree of scrutiny claimed via the organizers. Due to the high diploma of centralization, organizers wield a enormous quantity of strength that is accountable to abuse due to the modern-day lack of transparency in lotteries. Even without manipulation, lotteries are worthwhile for organizers, with many claiming a income margin of up to 50% on ticket sales.

Opportunities

Global drivers such as elevated net penetration, cell and PC ownership, and the improved adoption of cryptocurrencies9 point closer to greater demand for all-digital lotteries that overcomes current consumer problems such as lack of have confidence and requirements for non-public information.

Blockchain technology can now not solely provide a impenetrable and transparent approach of organizing the lottery, but it can additionally tap into new market segments, most particularly the global unbanked consumer segment as well as regional markets with restrictive legislation. A lottery based on smart contracts would offer an automated, tightly closed and obvious platform for this shape of gambling.

The Loteo solution

LOTEO is a completely computerized lottery platform that uses blockchain and clever contracts to create a totally obvious lottery, the place your probabilities are incomparably higher in contrast to traditional lotteries.

How does the lottery work

Users enter the lottery by way of buying single tickets for the LOTEO weekly lottery the use of the Ethereum cryptocurrency, or thru a 1/3 celebration merchant. Each Ethereum wallet tackle that has purchased entry is then registered as a participant in the LOTEO weekly lottery. At a later date, LOTEO will add a daily lottery governed by the equal rules.

The LOTEO lottery will be finished through a clever contract that will make use of a random range generator (RNG), the code of which will be publically viewable on GitHub and Etherscan. The pool for drawing consists only of lottery tickets (based on the Ethereum addresses of the entrees) rather of drawing random numbers, therefore every drawing ought to have a winner.



Token Details

  • Symbol - LOTES
  • Platform - Ethereum
  • Category - Security
  • Price - 1 LOTES = €0.05
  • Total Supply - 100,000,000
  • KYC - Yes
  • Soft Cap - €1,500,000
  • Hard Cap - €2,500,000
  • Accepted Coins for Payment - BTC, ETH, OTHER


Loteo (LOTEU) Airdrop


LOTEO is a fully automated lottery platform that uses blockchain and smart contracts to create a fully transparent lottery, where your chances are incomparably higher compared to conventional lotteries.

How to join the Loteo Airdrop?

Step-by-Step Guide Loteo Airdrop
  1. Register for the Loteo Airdrop, by creating an account.
  2. Submit your full name & email and click on ''continue''.
  3. Join Loteo on Telegramhttps://t.me/loteomission
  4. Follow Loteo on Twitter and retweet this tweet.
  5. Visit Loteo on Youtube and watch their promo video.
  6. Visit and subscribe to their Reddit.
  7. You will get your reward once the platform is ready by registering with the email you have used for entering the airdrop campaign.
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Author: Doblenk
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