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Crypto Lottery: What Is It?
Bitcoin lotteries are a relatively new type of prize draw, in which participants have a good chance of getting a solid win in cryptocurrency. While casino and sports gambling is often banned, gambling on the governmental level like lottos is often encouraged by the official authorities. Lotteries for the distribution of Bitcoins have been held on the Internet for a long time. Only specialized resources are used for this, for example bitcoin casino.
The principle of operation of the BitcoinLottery does not differ from the classic lotto with kegs or balls. The same fields with numbers and alternately falling out numbers. In fact, only the list of accepted currencies and the issuance of rewards are expanded.
Blockchain Concept in Lotteries
The main stumbling block to the organizers of classic lotteries has been and remains trust. Even in spite of the fact that world-famous lotteries have state licenses, public anchors, and broadcast live games, the population still has no trust. Most citizens think that lottos are hiding some manipulations that never allow an ordinary person to hit the jackpot. Sometimes, they still buy lottery tickets, and, having lost, are once again convinced that the organizers share the big prizes only among “their people”.
And here, the only alternative appears – blockchain. The main property of the blockchain, as we know, is decentralization and the inability to falsify the result or throw an “unnecessary” transaction overboard. If the lottery is really held on any blockchain platform, then, there can be no mistrust in its results. That is why in 2017 and 2018, an increasing number of gambling services and lotteries, in particular, can be observed in the listings of ICOs. All of them promise to create companies that will conduct truly fair lotteries that work on the blockchain and at the same time have the necessary customer anonymity. For a number of clients, anonymity is important. Not everyone wants to pay taxes for hitting a jackpot. And in the case of the lottery on blockchain, you receive a win on your BTC wallet, and nobody even knows about it.
Pros and Cons of Online Blockchain Lotteries
There are simply no restrictions for those wishing to test their luck in lotteries. If in real life, funds in national currencies are raffled off, there is a chance here even to win one or more BTCs in the free Bitcoin lottery without investing a cent. But many of those who have not tried their hand at lotteries doubt their honesty. In fact, such games turn out to be fair, because when creating lotteries, blockchain technology is used, which excludes any fakes and falsifications of the results of the draw.
In the system, prize numbers are selected according to a random number generating algorithm. So, a winning combination is generated randomly and cannot be preprogrammed. Each participant of the lottery will be able to double-check the results of any drawing in their personal account, so their results do not change after the game is over.
One of the Bitcoin blockchain lottery problems is the limited distribution of such lotteries. This is due to people’s distrust of cryptographic money, the complexity of manipulating digital coins, and the high volatility of quotations of virtual currencies. The latter factor is especially relevant, since any big win today can turn into pennies the day after tomorrow if the available cryptocurrency suddenly depreciates.
Despite the negative aspects, a large number of experts predict good popularity and prevalence for bitcoin lotteries in the future. The positive aspects that such draws have are extremely demanded and popular, especially among regular players.
Types of Real Bitcoin Lotto
Bitcoin lotteries are most often divided into two types. The first one is those lottos that award tickets to participants for certain simple actions (such as entering a captcha, visiting a website, and others). They are free of charge.
The second type is the lotteries that require a certain amount of money to buy tickets. The most well-known paid lotteries in the cryptocurrency industry are:
- Lottoland is a classic 6-out-of-49 lottery. The winnings can be received on a Bitcoin wallet or in cash in Euros at the company’s office in Ireland. The jackpot always starts at 1,000 BTC. Lottoland positions itself as the world’s first official Bitcoin lottery. Bets are accepted only in euros (from €3.5).
- Bitplay is a BTC lottery with a 6-out-of-45 algorithm. A non-standard ratio increases the likelihood of winning over other lotteries, but the jackpot is quite small. It usually ranges from 5 to 10 BTC. Tickets can be bought by standard transfer to the operator’s BTC address (from 0.0001 BTC).
Before choosing one of these options, you need to think carefully about all the advantages and disadvantages that they provide. To do this, it is enough to create a corresponding search query in the browser line, where you can read reviews about a specific resource and learn about the rules of the game. To finally decide on the choice, you need to check the compliance of the online platform with the BTC lottery to a number of criteria, such as:
- simple yet attractive design;
- secure connection;
- positive user reviews;
- the presence of educational information on the pages of the Bitcoin lottery sites.
How Do I Play the Bitcoin Lottery?
Crypto lottery may seem complicated at first glance, but in reality, this game is much easier than it seems. Here is the step-by-step guide you should follow when playing bitcoin drawing.
Step 1. Select a Site
Of course, you cannot start playing cryptocurrency lotteries unless you choose the right site. Sometimes this is the most difficult step because the industry is still fresh and there are not many operators. Choose the website that has the most user support and a good reputation. There are many scam sites that sell lottery tickets, but then they disappear without a trace, so take your site seriously. Pay attention to its license and the period of its existence before registration. At the same time, the variety of games is of great importance.
Step 2. Choose a Lottery
Then, you should choose the lottery itself. All options differ in average payments and duration. Which BTC lottery to choose is up to you. Once you have made your choice, you should purchase a ticket to play, which does not cost a lot of money. Sometimes you can get this ticket as a prize, for example, if you did something special or the casino just decided to give out a bonus.
Step 3. Create an Account
You will not be able to play if you do not complete the registration process. You need to create a username, which must be unique and include your country of residence, age, and email address. Please note that a working BTC address is also required. You must comply with the terms and conditions stated on the website.
Step 4. Buy Tickets
The most important thing is crypto lottery tickets. You can’t play the lottery if you don’t have one. There are several ways to buy tickets.
Some platforms are very generous and give away free tickets from time to time. This can be in the form of a no-deposit bonus. Or you can be provided with a task, and after completing it, you get a bonus ticket.
Usually, a lottery ticket can be bought directly on the lottery page of the bitcoin lotto/casino website. The cost of such a ticket for each platform is different. As a rule, it starts from $1 and can go up to $10 per ticket. There is no limit to the number of tickets you can buy to participate in the lottery.
Is Crypto Lotto Legal?
If cryptocurrencies are not prohibited in the country, then, in principle, lotteries with BTC should be legal. This is similar to any other lottery where the value of purchased tickets is pooled, and the jackpot is given to random winners. It’s just that the rewards are given in BTC and not in cash.
If the party organizing the lottery is a registered legal entity and complies with any government regulations, then it is legal. Yet, it’s worth paying attention to the following aspects:
- the platform proves to be registered in accordance with the laws of the country (provides necessary documents, indicates the certificate number on the main page, and so on);
- users are paid regularly and on time;
- the prizes are relative to the pool size, that is, they are not incredibly overpriced and not overly discounted.
Of course, lotteries are very attractive for their ability to win without doing anything. This is the reason for the scam. But there are also registered official sites (mostly, in Ireland).
BTC Free Lottery Scams – What to Beware of
Consider one of the popular lottery frauds other than an initially dishonest site. The victims receive a letter about winning a lot of money, in which they did not even participate. To receive the prize, they will be asked to pay. Fraudsters often say these fees are for insurance, government taxes, bank, or courier charges. The letter may also urge the victims to keep the winnings confidential. That’s for “keeping them safe” in order to stop other people from receiving the winnings, allegedly in error. Scammers do this to prevent you from getting additional information or advice from independent sources.
Fraudsters can use the names of legitimate foreign lotteries (often Spanish). So, if you only do a cursory investigation, you might not notice the catch. They also ask for personal details to prove that you are the right person and provide bank account details in order to send the prize. Fraudsters use this data to obtain personal information or try to steal an account.
More subtle fraud is based on social engineering. Attackers can take over the accounts of family members, friends and talk about the winnings, lure victims to the site and force them to make a deposit.
Never send money or provide a credit card, online account details, or copies of important personal documents to anyone you don’t know or trust. Avoid anything that asks for payment via bank transfer, a pre-loaded card, or e-currency such as Bitcoin. It is rare to get refunds sent this way.
How to Win the Bitcoin Online Lottery?
As for how to play and get a win, it all depends on the player. If the “fight” for free bitcoins is on faucets, then no special strategy is needed. Click more often and get free satoshi. But if bets are made with your own money, then, it is better to adhere to the following simple rules of money management:
- The maximum size of one bet should not exceed 2% of the total capital for the lottery.
- All bets in total must not exceed 15% of your deposit.
- If you have already lost 15% of the deposit, then you need to stop. It is better to recoup after a while, having come to peace of mind.
- Betting should be done with a cold mind, and not succumb to such emotions as excitement and greed.
If you follow simple rules and regularly play on both free and paid services, luck will surely come. Do not forget that Bitcoin is an excellent tool for making money, and you can earn on it in other ways – investing, speculation, or mining.
How to Calculate the Chance of Bitcoin Winning on Lottery?
Bitcoin award lotteries are held according to certain formulas, and the odds of each event (winning a particular category) are calculated mathematically. Moreover, this probability is calculated for any desired value, be it “5 out of 36”, “6 out of 45”, or “7 out of 49”. And it does not change, since it depends only on the total amount
of numbers and how many of them must be guessed.
For example, for the lottery “5 out of 36” the probabilities of winning are always the following:
- guess two numbers – 1: 8;
guess three numbers – 1: 81;
- guess four numbers – 1: 2 432;
- guess five numbers – 1: 376 992.
In other words, if you mark one combination (
5 numbers) on the ticket, then the chance to guess the “two” is only 1 out of 8. But the “five” numbers are much more difficult to catch, this is already 1 chance out of 376,992. This is exactly the number of all possible
combinations that exist in the lotter
y “5 out of 36”. And it is guaranteed that you can win in it if you only fill in all of them. However, the amount of the win, in this case, will not justify the investment: if a ticket costs 2 dollars, then marking all combinations will cost 753,984 dollars. The jackpot is usually much smaller.
In general, all the probabilities have long been known. They are presented in the table below:
|How many numbers to guess||5 out of 36 odds||6 out of 45 odds||7 out of 49 odds|
|2||1: 8||1: 7|
|3||1: 81||1: 45||1: 22|
|4||1: 2432||1: 733||1: 214|
|5||1: 376,992||1: 34,808||1: 4,751|
|6||1: 8,145,060||1: 292,179|
The Best Crypto Lotto Websites
Further, we have listed and described one of the most reliable and tried-and-true sites that hold crypto mining lotteries. As of the time of writing, the websites pay and allow to withdraw altcoins (BTC, in the first instance).
The site does not require any contributions from users and is one of the most popular resources. The lotteries are held weekly, but to take part in them, you need to register on the platform. Those wishing to participate should provide a Bitcoin wallet number and enter a password to enter the crypto currency lottery. You do not need to learn how to play the lottery at FreeBitco.in for a long time, because everything is intuitive here. On the main page, you just need to enter the captcha and then follow the link “Claim your free bitcoin now”. To participate in the drawing, you will receive a random number from the system in the range from 0 to 10,000.
The amount that goes to the winner is indicated in the draw table, which is provided to the players of the free Bitcoin lottery. This number is not constant and directly depends on the current Bitcoin rate. The owner of the largest jackpot will receive a significant amount. After each captcha introduction, participants receive two tickets at once to play the lottery.
It is enough to visit this FreeBitcoin service at least once a day. The number of tickets can reach 150, and at the same time, the chances of winning will increase. You can get additional tickets, but you will have to pay 17 satoshis for each of them. The prize amount will be divided among 10 people. The likelihood of becoming the owner of the coveted amount depends on the number of tickets on hand. The winner receives more than one Bitcoin, while the tenth place winner will receive only 0.002 conventional units.
The platform was launched after the start of the partnership between Bitcoin.com and Bravio Technologies Limited. It acts as a booking engine, buying tickets locally through official lottery agents on behalf of users. All users need to purchase tickets through the platform using a suitable wallet app such as Bitcoin.com Wallet and a Bitcoin.com Lottery account. After choosing the lottery and numbers, the user proceeds to pay using their application.
Once payment has been made, a selected team of local distributors working with the platform will purchase tickets, and shortly thereafter, a scanned copy will appear in the user’s account. Bitcoin.com Lottery will also notify players if they have any form of winnings through internal customer support who can help at any time.
The online platform currently supports over ten internationally renowned lotteries. These include the U.S. PowerBall, Mega Millions, Euro Millions, and the popular Lotería de Navidad, which has a jackpot of €2.24 billion. To start playing, you need to create an account and purchase a ticket. The platform is based on blockchain technology and allows you to buy tickets using cryptocurrency. It supports payments in BCH and BTC.
Bitcoin zebra is one of the most popular Bitcoin faucets today. Every hour, it distributes up to 1,000 Satoshi to the Bitcoin wallet specified during registration.
The site earns money from users who visit the site. They see ads posted all over the website. The platform shares part of its profits with users who come in to get their free Bitcoins. To get them, nothing complicated is unnecessary. You just need to specify your BTC wallet, click on the “Feed the zebra” button and enter a captcha (you can enter it once an hour). For each input, you can get 100, 200, 300, 500, or 1,000 Satoshi; the number drops out randomly. After entering the captcha, Bitcoin is immediately displayed on the account. The distribution of the cryptocurrency on the site never stops. Withdrawing BTC from BitcoinZebra is carried out automatically every Sunday to the wallet specified during registration.
The CloudBet portal offers seven BTC lottery options: six themed bingo apps and a traditional 80-ball keno. Uncertainty in choice can be overcome with the help of fan-mode: you can play not only for Bitcoins but also for free.
The mobile version allows you to take part in the draws almost at any convenient time. Yet, owners of five-inch smartphones may have display problems due to minor flaws in the responsive design. On tablets, the Bitcoin lottery is much more convenient.
The CoinPot Bitcoin lottery ticket seller uses an internal CoinPot Token. You can get it for free or buy it for 5 available cryptocurrencies of the service: BTC, BCH, LTC, Doge, and Dash. Moreover, you can make an exchange both in one direction and in the other, which makes it possible to use the most convenient cryptocurrencies for you for replenishment and withdrawal.
If everything is clear with the paid version of the lottery on CoinPot, then we would like to draw your attention to the free option. Free tokens are distributed for each call to each faucet working with this resource. There are seven such faucets in total.
For each call to the faucet, you are credited to CoinPot with the corresponding cryptocurrency and 3 of those same tokens. You can perform these actions every 5 minutes. Thus, you get the following formula (excluding cryptocurrency) for tokens: 3 tokens x 6 faucets = 18 tokens in 5 minutes.
BitPlay Bitcoin Lottery
BITPLAY is a real online lottery crypto based on blockchain technology. Winnings here are paid in Bitcoin cryptocurrency. The process of generating random numbers to identify the winners is completely autonomous, without human influence. Lottery results cannot be faked. Playing the lottery is easy. Mark your lucky numbers on the ticket and then buy this ticket by paying for it with BTCs from your wallet, or with other altcoins (a large selection).
Features of the platform are as follows:
- Types of games: 6 out of 45 (it is possible to guess from 6 to 12 numbers out of 45, with an increase in the ticket price);
- frequency of the drawings: 1 time in 24 hours;
- lottery currency: Bitcoin;
- one ticket price: 0.0001 BTC;
- jackpot: over $50,000 in Bitcoin.
Free Bitcoin Faucets
One of the easiest ways to earn BTC is by using Bitcoin lotto faucets. They are basically a reward system created in the form of an application or a website. They give a reward in the form of satoshi (1 satoshi is one hundred millionth BTC). Visitors must complete the tasks described on the site. Different faucets can have different cryptocurrencies, not just Bitcoin.
What tasks do users typically perform? They solve captchas, play games, click on ads, or watch videos. For each completed task, they earn Bitcoins. Let’s take a look at a few popular Bitcoin faucets:
- One such faucet is Bittube, where you earn satoshi by watching YouTube videos.
- AdBTC Top pays from 5,000 Satoshi for viewing ads (up to 70 Satoshi every 35 seconds). So, the main tasks are web surfing and watching videos.
- Bitco Mania pays around 300 Satoshi daily. The website allows users to view advertisements, click on short links, complete tasks, and participate in the game. Payments start from 1 Satoshi.
- BTC Clicks allows you to earn up to 10,000 Satoshi. The site pays steadily straight to your wallet. You can earn BTCs for viewing advertisements on the sites of the service’s partners. You need to follow the link and wait 10 seconds to receive Bitcoins.
- Kickass Traffic allows users to earn 2,000 Satoshi (up to 60 Satoshi every 10 seconds). You can earn money for viewing the site and advertising. Tasks on the website are constantly updated and added.
- Coin Bulb pays up to 10,000 Satoshi daily for clicks and ads. Payments to your bitcoin wallet (after accumulation) are instant.
- Clix Coin allows users to earn up to 35,000 Satoshi by watching ads (35 Satoshi every 60 seconds). Contests and other ways to earn bitcoins are also available.
Is this an efficient way to earn cryptocurrency? Well, this is not really an option for people who are in full-time jobs. Tap rewards are always a few cents or a dollar. Such services are made more as an advertising function.
Is Mining Bitcoin Like Lottery?
The point is that Bitcoin mining is an ordinary block search. And if you find this block, then you are given a reward in the amount of 15 BTC. Finding this block is like playing a lottery. Thus, the millionth prize in a lottery can be won by a person who has bought 100 thousand tickets, and who has bought 1 ticket.
If you have some kind of processor that can produce even the smallest number of hashes, then, all of you are a member of this lottery. The reward for the found Bitcoin block is 15 Bitcoins. Every 6 hours the block is found. During the day, there are several such draws. Yes, the mathematical probability is low. But this is only probability. You just turn on Bitcoin mining for your processor or video card, and that’s all – you will take part in the lottery.
What you need to start participating in this lottery:
- Download the local bitcoin wallet on your computer together with a full copy of the blockchain.
- Find the miner program for Bitcoin mining in Solo-mode.
- Start mining.
Drawings with Ripple, Bitcoin, Ethereum Classic, or other cryptocurrencies are a real thing. Most of them are legal and trustworthy. However, you need to remember that such lotteries can’t be stable income. They are games of chance, so you can’t rely on them fully.
Are There Bitcoin Instant Lotteries?
Yes, there are, but their number is limited. When we talk about instant BTC lotteries, it means that they are executed quickly. You don’t have to wait for the broadcast to start, so everything ends right away. However, such lotteries are not very common among casinos and other lotto services. Almost everyone prefers the traditional BTC lottery.
What Is the Price of a Lottery Bitcoin Ticket?
The average ticket price is $2; it depends entirely on the particular provider. Of course, there are platforms that triple the price and sell tickets for $10. Since bitcoin is used in lotteries, you must buy a ticket with the cryptocurrency.
What Were the Biggest Bitcoin Lottery Winnings?
There is no specific information on the largest BTC lottery wins. The prize fund may even be $2 million. There were players who managed to win $100,000, but there are no detailed statistics on the winners. In general, the lottery organizers always try to keep the names of the winners anonymous.