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Bitcoins and the Lottery: A Match Made in Cyber Heaven!

Bitcoins and the Lottery

Lottery Addicts Must Keep Up with the Times

The bitcoin started making headlines back in 2009. What this is, is a peer-to-peer payment system that’s essentially focused on a decentralized currency freed from the banking system. While the US is relatively accepting of the electronic currency, the rest of the world is a bit more skeptical and some countries have even imposed restrictions on exchanging bitcoin for local currency.

With that said, it’s interesting to examine the manner in which bitcoins affect the world of lotteries. Many countries run lotteries that are open for local and international players alike. It only makes sense that the lottery circuit would be an excellent opportunity for bitcoin owners to partake in this activity.

One thing you should know is that a bitcoin lottery is no different from the regular lottery that we play with our hard earned cash. In fact, the two are very similar. Instead of entering your credit card information, you enter your bitcoin wallet address. You select the numbers the same and you can win the same.

Why Should You Play the Lottery with Bitcoins?

Bitcoin lotteries run off the same premise as regular lotteries. You pick your numbers, you enter your information (bitcoin wallet address in this case) and just wait to see if you win. It’s no different, except that you do not have to create an account with the lottery site. These bitcoin lotto sites usually allow you to purchase a ticket by sending the payment to the wallet address that they provide. Once you receive a confirmation that payment has been made, you can begin to pick your numbers. So in essence, you can begin playing within minutes of visiting the site.

Because you are not signing up for an account with any of these lotto sites, you are playing 100 percent anonymously. While some sites may require some form of identification, bitcoin lotteries don’t require anything other than your wallet address.

All bitcoin transactions, including the purchase of lottery tickets, are completely legal. From beginning to end, the entire process deals with the electronic money and no real money is passed through the banking system. There is no way for governments to trace where bitcoins go and come and there also aren’t any known laws that have been signed to prevent people from playing with bitcoins.

Sounds Great! Where to Begin?

There are many bitcoin-based lottery sites available for you to choose from. Thus, you may be a little overwhelmed as to where to start. After doing some research, we’ve compiled a list of some of the more reputable bitcoin sites:

Bitcoin icon Taabl.net was the very first bitcoin lottery site and it’s been servicing the bitcoin community for years. They offer a 99 percent return to their users, which is pretty good considering you are playing the lottery after all. When you first go to the site, it may be mind-boggling, which is why we recommend you checking out the How to Play section.

Bitcoin icon Bitoomba.com is not only a lottery site, but it is a casino site, as well. You can play a variety of casino games like slots, baccarat, roulette, and dice to name a few. You will have to create a login for this site in order to play, however, the graphics make it an exciting experience for new players.

Bitcoin icon Luckyb.it is a completely anonymous site where you can play. There are three different risk tiers and they are used to scale the risk and rewards per play. The way you play is you enter your bitcoin address and you begin betting. It is recommended that you read the note on compatible wallets, which is located at the top of the site’s homepage. This website cannot be classified as a lottery per se, it’s more reminiscent of the Price is Right game, “Plinko”. You will always win something when you play.

Bitcoin icon Crypto-Games.net has lottery tickets available for purchase at a relatively low price of 0.0001 bitcoins. A drawing occurs one time per week and three winning tickets are chosen. The three players will split 98.5 percent of the bitcoins generated during the respective drawing among themselves.

Bitcoin icon YABTCL also ranks among the websites that enable players to test their luck with a bitcoin wallet. The name of the website is an acronym for Yet Another Bitcoin Lottery. To participate, players can choose anywhere between 1 and 16 numbers from a pool of 67. The price of the ticket is 0.00000010 bitcoin (minimum bet) but players can choose to bet more. Those who pick 1 numbers and have it drawn during the respective week will get their bet back x4.14.The return is x2 for 2 numbers and the odds change depending on the set of numbers chosen. Whenever players choose 5 numbers, for example, and get all of them correct, they will receive the bet x49. If they have 4 out of five numbers correct, the bet will be returned x10.

Bitcoin icon Cloudbet provides a welcome bonus of up to 5 bitcoins. As usual, a bitcoin wallet can be used to make bets. The website allows for sports betting, casino-style games and raffles. The website has excellent security and guaranteed payouts, factors that turn it in an attractive choice for people who want to play with bitcoins and win some crypto cash.

Keep in mind that the bitcoin is only the first cryptocurrency. Over the years, various other digital and decentralized payment options have been developed. Whether you pick a website that utilizes bitcoins or other cryptocurrencies, you should check its security features first. There are many legitimate opportunities out there. Others, however, may be questionable. Apart from making sure there is privacy protection and anonymity, you should also ensure the safety of the transactions for the purpose of getting your crypto cash transferred to you risk-free.

Also, know that the premise of lotteries remains the same. You may win, but it’s also possible to lose. Be prepared to invest a reasonable amount in tickets. Online websites make it easy to go overboard, which is why you may want to set a budget in advance.