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So Bitcoin lotteries are an attractive idea. A Bitcoin lottery works like Powerball or Mega Millions lotteries do: players purchase a ticket in the hope of hitting a jackpot.
The difference is that you can choose to have your jackpot paid out in Bitcoins instead of cash. If you believe that cryptocurrency prices will continue to rise, then hitting a Bitcoin jackpot can be even more valuable than receiving the same dollar amount in cash.
To play, you pay 3. You then pick six different numbers between 1 and 49 or use the Quick Pick option to have the numbers chosen randomly for you.
Lottoland doesn't draw winners, but rather uses the numbers drawn from Spain's Bonolotto, which reduces the chances of impropriety with the winner selection process.
Prizes are awarded as follows:. Balls for this type of lottery are randomly drawn, a fact that can be verified at any time. It is also possible to verify the number of tickets sold, the person who won and other details.
In order to make this possible, the mechanism creates a seed when the balls are drawn. Next, the platform gets a second random seed from the player.
When the two seeds get hashed, the balls are generated. If you match a specified number of balls, you win a prize. Another possible option involves games where balls are drawn using software from third-party providers.
These are providers like Net Ent and Evolution among others which are best known for their casino games. The best part about these providers is that they adhere to industry regulations as per full license requirements.
Since they undergo regular audits, they have to make sure they meet the set standards. They are known to offer fixed odds, rather than basing the prize money on the number of tickets that players buy.
Instead of calculating the prize based on a percentage, the prize is calculated using a multiplier. This means players get the opportunity to set their own stakes.
Despite all of the modern advances in the game, the basic concept of a lottery remains the same and most of the age-old rules have been kept intact.
Just like buying a tangible ticket from a store, Bitcoin lottery players purchase one or many online tickets from the site of their choosing and hope that they hold the winning combination of numbers.
The whole concept of a lottery relies on it being totally random, which makes it a game of luck rather than skill.
However, there are a few strategic techniques that can be used to give smart Bitcoin bettors a slight edge over their fellow players.
These include purchasing many tickets, finding the ideal Bitcoin lottery platform and picking a good mix of numbers ranging from low to high.
It is also beneficial to join online lottery forums to get updates and tips about the different available games and read suggestions from seasoned expert players.
Getting started with Bitcoin lotteries is pretty simple. Here is what you need to do:. Step 2: Select a suitable Bitcoin lottery site and sign up then purchase a ticket.
Step 3: Next, you need to choose 6 numbers between 1 and You can either do this manually or use the Quickpick option that automates the process.
Step 5: The amount you win will depend on the number of matching digits you get. Based on the type of lottery you play, this could be a percentage of the prize pool or based on a multiplier.
All you have to do at this point is to withdraw your winnings! Unlike casino games, lotteries offer an opportunity to win without requiring any skills whatsoever.
It is easy to understand why they have always been popular. Now, with the inception of Bitcoin-based alternatives to the traditional options, it is even more alluring.
You can now play with complete peace of mind, not fearing about losing your winnings to rogue operators. You can also play from any part of the world and enjoy the opportunity for massive wins.
Getting your payout instantly is the icing on the cake. We are committed to responsible handling and protection of your personal information.
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We have an unbounded love for all things Bitcoin and we use this passion to help promote safe and responsible Bitcoin casinos.
With TheBitcoinStrip. Each Bitcoin gambling site has been reviewed independently , helping you find the perfect destination for gambling with crypto.
Bitcoin Lottery. Benefits of Bitcoin Lotteries over Traditional Ones Many avid gamblers might be wondering what the benefit is of playing lotteries with Bitcoin as opposed to traditional cash and fiat funds.
Pros Low Stakes to Enter Bitcoin lotteries are known to offer much lower stakes than traditional ones. Can Be Played on the Go Mobile-Friendly Traditional lottery operators have not managed to keep up with the times to the same extent as their blockchain counterparts.
Loads of Choices Traditional lotteries are often restricted to specific countries. Transparent Among the biggest drawbacks of playing traditional lotteries is the lack of transparency.
Fair Crypto-based lotteries often make use of provably fair mechanisms that players can use to check whether the process is free and fair.
Cons Typically Unregulated One of the biggest drawbacks of Bitcoin lotteries is the fact that most of its operators are not regulated. Top 10 Bitcoin Lotteries December, Bitcoin lotteries are taking the world by storm with prize pools reaching well into the millions.
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Casino Rank 2. Casino Rank 3. Casino Rank 4. Welcome Offer With Deposit Bonus 2. Casino Rank 5. Our company, which has entered the market quickly with Bitcoin lottery and lotto, has aimed to grow further by distributing an average of 3 million dollars per year.
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Our customers have always expressed their satisfaction with the service we provide in this way. We are always dealing with the most professional team, which takes us one step forward compared to other companies.
You can also invest in meticulously the company you will work with, and you can also invest in bitcoin. Your internet connection should be very good and you should not be disconnected.
Because all the bitcoins you earn in any glitch can disappear. On the one hand, some players prefer this, as there is no input required from the platform in question.
Players know that the offline lottery space operates in a heavily regulated environment, which in itself acts a safeguard against fraud and manipulation.
However, some players prefer to stay away from this branch of the Bitcoin lottery space, not least because they would rather opt for a ball-drawing process that allows them to verify the authenticity of the game.
At the other end of the Bitcoin lotteries spectrum, a whole new version of the game exists — Provably Fair. For those of you unaware, Provably Fair was fist created by the founder of SatoshiDice — a Bitcoin dice game created in Not only this, but it is also possible to independently verify how the Provably Fair mechanism generated its outcome — as all of the data is available in the public domain.
In the case of Bitcoin lotteries, Provably Fair is absolutely ideal. One of the best things about Provably Fair Bitcoin lotteries is that the entire end-to-end process can be verified at any given time.
This includes the exact amount of tickets that were sold, how much was paid, which addresses held a winning ticket, and most importantly — how the winning balls were randomly selected.
The third option that you have at your disposal is to use a Bitcoin lottery website that utilizes a third-party software provider to draw its balls.
Keno is very similar to a lottery game, however, winnings are not based on the number of tickets sold. Instead, winnings are based on fixed-odds.
The numbers run from Prizes and paid when you match at least 3 balls from your ticket. As such, you can effectively set your own stakes.
The second — and perhaps the most important aspect that sets this particular Bitcoin lottery game apart is the process used to draw the balls.
In the vast majority of cases, platforms will partner with third-party software developers such as Microgaming, NenEnt, and Evolution. These software developers are not only required to hold full gaming licenses, but they regularly have their gaming data audited.
On the other hand — unlike Provably Fair, the gaming data cannot be verified by the public, meaning that the ball-drawing process is kept behind closed doors.
Before you begin playing a Bitcoin lottery game, it is well worth making some considerations regarding your chances of winning.
First and foremost, your specific odds will depend on a number of key factors. Notably, this includes the number of balls in the draw, the number of balls that will be drawn randomly, and the number of balls on your ticket.
However, in order to give you an idea of the underlying odds, we have taken the industry average — which is a 49 ball game with 6 numbers drawn.
As you can see from the above examples from a typical 49 ball game, the odds are heavily stacked against you once you get past the 3 number requirement.
As such, it is crucial to assess how much each corresponding win is going to pay. Probably not. So now that you know the ins and outs of how Bitcoin lotteries work, we are now going to show you how you can get started.
Follow our simple step-by-step guide below to find out how to register and deposit funds at a Bitcoin lottery platform! Your first port of call is going to be to choose a platform that hosts a Bitcoin lottery game.
In some cases, these will be dedicated platforms that specialize exclusively in Bitcoin lottery games. In other cases, platforms will be a fully-fledged Bitcoin casinos that hosts a range of Bitcoin lotteries alongside more traditional games likes like blackjack, roulette, and slots.
Before choosing a platform, you also need to assess what type of Bitcoin lottery game that you want to play. As we discussed earlier, this will dictate how the balls are drawn.
For example, while some players prefer balls that are generated via Provably Fair, others prefer Keno-style games that are backed by regulated software providers.
Once you have chosen your preferred Bitcoin lottery platform, you will now need to go and open an account. A pop-up box will then appear asking you to choose a username.
Although you have just created an account by simply choosing a username, you should now go into your settings page and add a layer of security.
This can either be via two-factor authentication or email notifications. Once you opened your account and added a layer of security, you now need to deposit some funds so that you can enter a Bitcoin lottery game.
You will then be shown your Bitcoin deposit address. This wallet address is unique to you and your Bitcoin lottery account, so make sure you keep it safe.
Copy the address to your clipboard, and then head over to your external Bitcoin wallets.