Bitcoin Lotto Review
The good, old bitcoin seems to be here to stay! Are you excited about the cryptocurrency that’s changing the rules of the game? So are we. So are people who create lotteries for that matter! As a result, the brand new Bitcoin Lotto has come into existence in 2017.
Don’t worry – there’s nothing sketchy about Bitcoin Lotto. In fact, it appears to be pretty legitimate and it has already produced its first millionaire. Way to go for such a short period of existence!
Bitcoin Lotto: Introduction
Bitcoin Lotto is one of the exclusive entries in the portfolio of LottoLand. It’s advertised as the first-world bitcoin lottery and according to the creators, every seventh ticket will result in some sort of prize for its buyer.
The coolest aspect of Bitcoin Lotto is that you can buy your ticket with regular currency (euro) and win a prize in the form of the world’s most popular cryptocurrency. If you’ve had some interest in getting your hands on bitcoins but you don’t know how to do it, Bitcoin Lotto may be the right option for you.
Is Bitcoin Lotto a Scam?
There are still some skeptics out there who think that everything cryptocurrency-related is a scam. The truth of the matter is that many fake and shady websites do exist. The official Bitcoin Lotto by LottoLand, however, appears to be pretty legitimate.
Bitcoin Lotto has the structure and the rules of all other standard national lotteries. The payment is also confirmed in advance, which means you know exactly what you’ll be getting into. There may be some other bitcoin lotteries out there, but unless they are the official opportunity mentioned here, they should be taken with a grain of salt.
Please be careful because there are many bitcoin scams out there. Since cryptocurrency is becoming more and more lucrative, fraudsters are getting creative. Some of the scams are pretty sophisticated and difficult to identify. Thus, if you want to be on the safe side, use the link provided in this review – it will take you to the official LottoLand Bitcoin Lotto website.
Play Bitcoin Lotto Online: The Rules
It’s fairly easy to play Bitcoin Lotto online.
The game follows a standard 6 out of 49 format. Thus, in order to win, you have to choose 6 digits and an additional number. Drawings are taking place every single day of the week and there’s a minimum guaranteed jackpot of 1,000 Bitcoin.
The numbers drawn are based on the Sorteos de Bonoloto in Spain. By playing the Bitcoin Lotto, however, you will not be making an entry into the respective Sorteos de Bonoloto drawing.
The price of a single ticket is 3.5 euros.
Prizes and Odds
Players have the choice to get their prize either in bitcoin or cash. This is a pretty cool characteristic because some may be unaware of what it takes to create a digital wallet and exchange bitcoin for national currency.
There are 5 prize tiers. The top two are provided in the form of bitcoin, the lower prize tiers are annotated as euro cash prizes. Every jackpot is split equally between all of the people who have the correct 6 numbers for the respective drawing.
Bitcoin Lotto comes with odds of winning the jackpot of 1 in 13,983,816. The biggest jackpot won to date is 1,455 bitcoin (the equivalent of 11,494,492 USD at the time of writing). Because the price of the bitcoin fluctuates so much, it’s certainly a good idea to check how it’s going up and down at the time of playing Bitcoin Lotto.
The second prize is 1 bitcoin and it’s handed to those who get 5 numbers correct. The odds of this happening are 1 in 55,492.
Three lower prize tiers exist, as well. People who match 4 numbers (odds of 1 in 1,033) will win 50 euros. The prize for 3 correct numbers is 5 euros and those who match 2 numbers (odds of 1 in 7.6) will win 1.5 euros.
Other than those who win the jackpot, players who claim a sum in one of the lower prize tiers will not have to share with others. The mentioned sums are paid in full, regardless of the number of winners per prize tier.
Some Information for Bitcoin Lotto Winners
In order to play and claim prizes, Bitcoin Lotto enthusiasts will need to create a verified LottoLand website. Once this process is completed, all prizes will get credited directly to the account of the winner.
LottoLand is registered and regulated by the UK Gambling Commission and the Revenue Commissioner in Ireland. This means you don’t have a reason to worry about winning anything and not being paid in full.
The payout is guaranteed and once it is made, you can withdraw the money to your bank account. Players also have a choice between taking out the entire amount and leaving some of the money in their LottoLand balance for future purchases.
Can You Buy Bitcoin Lotto Tickets Online?
Bitcoin Lotto is a web-based lottery. This means that in order to participate, you have to buy Bitcoin Lotto tickets online via the LottoLand website.
Here are some of Bitcoin Lotto’s biggest advantages summed up for you:
Why You Should Play Bitcoin Lotto
An official lottery that is regulated by UK national entities
Ticket purchases are possible online by players from all parts of the world
There are six drawings per week, every day apart from Saturday
The minimum guaranteed jackpot is 1,000 bitcoin
If there’s no winner, the jackpot will roll over towards the next drawing and grow
Players can choose to take out their jackpot prize either in Bitcoin or a standard national currency
All prizes are credited directly via the player’s LottoLand profile and can be withdrawn to a bank account
There are 6 prize tiers
The odds of winning a Bitcoin Lotto prize are pretty good
You don’t need to own bitcoins in order to buy a lottery ticket
That’s a pretty long and a pretty impressive list of advantages. Still, there are a few things about Bitcoin Lotto that aren’t so great:
Why You Shouldn’t Play Bitcoin Lotto
Only the first two prizes are provided in the form of bitcoins, the others are paid out in euro
This is a standard 6/49 game
The price of the bitcoin fluctuates greatly, which means there will be variations in the prize amount from week to week
Players who get the 6 correct numbers will have to split the bitcoins between themselves
Is Bitcoin Lotto Legit?
Fully certified and regulated, Bitcoin Lotto is the world’s first official cryptocurrency-based lottery. If you’re in the whole bitcoin craze, you will definitely be eager to try the lottery. After all, getting your hands on at least 1,000 bitcoins is definitely going to be life-changing.
These shortcomings don’t really interfere with the lottery experience and Bitcoin Lotto is definitely something pretty innovative. If you believe that bitcoin is a good form of investment, this LottoLand lottery is definitely the one for you.