Loteo is a digital automatic lottery platform that uses blockchain

The lottery is considered one of the hardest things to win. In a typical lottery event, the odds are never in your favor. And this reasoning isn’t farfetched. A centralized control regarding what the winning numbers ensure participants rarely hit the bull’s-eyes. Little wonder people compare playing the lottery to flushing money down the drain.

Another problem with the current arrangement in the lottery space is limited reach. Usually, the lottery organizers set up shop in their country. It is never all-encompassing, so certain countries are left out of the fun. I remember vividly one specific lottery I wanted to participate in, but I was barred due to my locality. Considering the world is expected to be a global village with the birth of the Internet, it does appear stupid that limitations like this exist.

Conventional lotteries have one rudimentary flaw – the winner’s information is blasted all over media channels. It is a marketing stunt that works wonders for them. Often, we see people don facemasks and other items to protect their identity. While it is fun for the onlooker considering how hilarious such a sight is, those wearing the shoe feel the pinch. No one wants to have sudden responsibilities thrust on them just because they won the lottery. There is the security concern that comes with such an arrangement.

Fortunately, there are a few startups plotting on using the blockchain to set up lottery platforms geared at having participants enjoy the thrills of the game without the stigmatization and constraints of the regular lottery. Have there been any successes recorded? I will leave that for you to ruminate on.

FEATURE

• Global lottery

Online lotteries are an established industry, having existed in some form since at least 19975. The global online lottery market is estimated to reach revenues of more than $10 billion by 2023, growing at a CAGR of around 8% between 2019-2023.

• Future outlook

Global trends such as the long term increase of mobile phone penetration, internet penetration and the proliferation of blockchain technologies will provide ideal conditions for the growth of the online gambling market, including the online lottery industry.

Growth will be driven by the rise of draw-based games and scratch-off instant games across European countries as well as other developed regions. The increasing focus on investment in new technologies (including blockchain), improving the perception of lotteries, and reaching far-away audiences via the internet will propel the transformation of the market.

• Current issues

Lotteries, like any form of gambling, can be manipulated against its participants, despite the high degree of scrutiny claimed by the organizers. Due to the high degree of centralization, organizers wield a considerable amount of power that is liable to abuse due to the current lack of transparency in lotteries. Even without manipulation, lotteries are profitable for organizers, with many claiming a profit margin of up to 50% on ticket sales.

• Opportunities

Global drivers such as increased internet penetration, mobile and PC ownership, and the increased adoption of cryptocurrencies9 point towards greater demand for all-digital lotteries that overcomes current customer issues such as lack of trust and requirements for personal information.

Blockchain technology can not only provide a secure and transparent method of organizing the lottery, but it can also tap into new market segments, most notably the global unbanked customer segment as well as regional markets with restrictive legislation. A lottery based on smart contracts would offer an automated, secure and transparent platform for this form of gambling.

Loteo Security (LOTES)

LOTES security label is a security token that will be sold only as part of a private financing round (STO) to taxpayers accredited by venture funds. There will be no public sale. This token gives owners the opportunity to protect themselves from participating in the lottery without being present for an amount equal to 20% of the total value of each prize. Lots are blocked for 15 months, and during this period it is impossible to buy them or sell them elsewhere. After the first 15 months, another round of private sales will be held, during which LOTEO unlocks 30% of all tokens that will be sold to accredited partners. After the sale of these tokens, the token will be listed on various exchanges.

Loteo Utility (LOTEU)

LOTEU service token is a service token that will be used for marketing purposes. When you buy an additional entry in the lottery 100 LOTEU, double your chances of winning the lottery. Many drops of this token will be made directly to the community and through LOTEO marketing partners, and there will be many contests to be awarded to LOTEU. LOTEU tokens will also be distributed as part of campaigns for a reward in accordance with the LOTEO marketing plan and official announcements via communication channels. There is a long-term plan for future rates with LOTEU for the purposes of the B2B platform, which will be indicated before the start of the second round of project financing. The price of 1 LOTEU is not exactly indicated, as there are no sales.

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

More Information :

Website : https://www.playloteo.com
Whitepaper : https://www.playloteo.com/documents/loteo-wp-en.pdf
Facebook : https://www.facebook.com/loteomission/
Twitter : https://twitter.com/loteomission
Reddit : https://www.reddit.com/user/LOTEO
Telegram : https://t.me/loteomission

Author : sirop