The blockchain technology is anticipated to bring a lot of changes – even to the most unexpected realms. And Fire Lotto is a straightforward example of this popular trend. This is a blockchain based lottery platform that was introduced on the 1st of January 2018. So, not only that the blockchain revolution is altering the corporate and business world, but the lottery world is prone to change, as well.
About Fire Lotto
To start with, Fire Lotto is the very first blockchain lottery. It utilizes the funds obtained from the ticket sales in order to pay the lottery sum to the winner. To be more specific, roughly 70 percent of the prize’s amount is derived from ticket sales.
What is more, the winner receives the prize instantly. It’s as simple as this: the more ticket sales, the higher the prize will be. Currently, the funds are estimated at $3.7 million. In the event in which there is no specific winner in the draw, then a second iteration will be initiated, and the original prize will be actually doubled.
Being developed on Ethereum smart contracts, it delivers utmost transparency when it comes to payments, in particular. What is more, it has a source code available, to be as clear as possible.
Fire Lotto has actually shown that there are no limitations when it comes to the blockchain.
What lottery games are available
Currently there are 3 main lotteries available to play:
- The 4/20 Lottery
- The 5/36 Lottery
- The 6/45 Lottery
- Roger’s wheel is coming soon…
How to play
- Besides being older 18+ years of course, you will need an ethereum wallet called MyEtherWallet.com from where you will transfer ETH Ethereum that you will put at stake.
- In the next step you need to select the type of game you want to play and select your lucky numbers.
- Last but not the least, you proceed to the purchase where you transfer the amount of Ethereums from your wallet into the system.
- When you are lucky and you win, the system will automatically transfer the funds you won, to the same wallet that was used to purchase the ticket.
- Rinse and repeat if you are feeling lucky
What Makes Fire Lotto Unique?
For one thing, we’ve already pointed that complete and utter transparency is the main advantage. Considering that all transactions are made via smart contracts, there is no doubt whatsoever that the winner won’t get the money.
Simultaneously, there are four distinct lottery games within the Fire Lotto mobile app. Essentially, playing the lottery is significantly simplified. All you have to do is download the app and pick the game that appeals to you the most. You can get a ticket worth $2 and, afterward, you patiently await the draw.
If you’re lucky enough and your numbers appear in the draw, the money will be delivered to you right away.
How does Fire Lotto differentiate from other ICOs?
For one thing, there is already a finished product for users to see and use. The payment is guaranteed, as well as a promise of authenticity featuring the source code available.
Some people say that FireLotto.io was the best ICO of January 2018…
Plus, interestingly enough, you may choose to become an investor by investing in FLOT tokens at the ICO. As an investor, you benefit from 10 percent of the total ticket sales. In the meantime, 25 percent of the sales are directed towards promotion, whereas 5 percent is utilized for maintenance and innovation.
So, if you want to become a co-owner, you have the guarantee of getting returns yearly. As the lottery gets more participants, this will maximize your profits, as well. At the same time, with the higher trade volume, the token cost will grow, which translates into an increase in the profit margin.
Presumably, the most notable advantage is the fact that the prize comes free of taxes. This is definitely appealing, especially considering that normal lotto implies paying a lot of taxes. So, a $2 investment could help you become a millionaire.
Fire Lotto vs. Normal Lotto
With the launch of Fire Lotto, lottery games have been made available to literally anyone in the world, regardless of location. In comparison to normal lotto, it promises transparency in all respects – something that doesn’t come as a guarantee when we’re talking about conventional lottery systems.
All you need in order to be a part of it is a mobile device with an Internet connection and a crypto wallet, and you may actually become a winner of the prize. For the first time, thanks to the blockchain technology, lottery games will become available to anyone, in a transparent manner.
Most importantly, as a player, you won’t have to fear the fraud or faking of the winning numbers. Also, the likelihood of delayed payments or non-payment is gone.
If you want to learn more about Fire Lotto, make sure you visit their website: https://firelotto.com/
Without a doubt, blockchain technology has plenty of surprising things in store for you – who would have thought of this thing years ago, right?