My head is spinning with all the different cryptocurrencies popping up. FireLotto.io is yet another Initial Coin Offering (ICO) that is linked into their three lottery games. Getting into the game means purchasing their FLOT – FireLotto Tokens. Besides the three lottery games currently offered, it does mean as an investor, you get a percentage of each ticket sold. But what are you going to do with your FLOT?
Games at FireLotto.io
FireLotto currently has three games. 4/20 Lottery has a current jackpot of 3 ETH or an estimated value of US $2,109 and is a pick 4 numbers out of 20. It’s 5/36 Lottery has a jackpot of 83 ETH or US$58,190 and yes, is a pick 5 numbers out of 36. The 6/45 Lottery jackpot is 183 ETH or US$ 129,864 and players pick 6 numbers out of 45 for each ticket line. The actual winning jackpot will fluctuate depending on how many people have bought tickets. 70% of FLOT used to buy tickets goes to the jackpot. There is no limit to how many tickets you purchase. The cost for each ticket line for all advertised lotteries is .003 ETH or US$2.00 to buy a lottery ticket. There is an additional game called Roger’s Wheel which is an instant win lottery that ‘will be coming soon’.
How to Play?
Step one in getting into these lottery games is buying FLOTs – tokens for your Etherwallet. That makes you an investor. Currently 16,051,524 out of 77,000,000 FLOT has been sold. Once you have FLOT in your account, you can play lotteries or simply sit back and collect your percentage on each ticket sold. More on that shortly.
How Fire Lotto Lotteries Work
Now how the lottery side of FireLotto works could be the million dollar question. The only information on when the draws take place is the clock running down. Each lottery closes one hour before it takes place with the draw using a Random Number Generator to select the winning ticket numbers. It looks like there is only a jackpot and no other tiers of prizes. There is no information on winners though FireLotto says in their FAQ when the timer runs down, click on that lottery and then the “Draw Archive” and it will show the results.
This is an ICO (Initial Coin Offering versus an Initial Public Offering or IPO) for a blockchain currency called Fire Lotto Tokens (FLOT). People buy FLOTs with real currency. This is crowdfunding with the idea being the more FLOT that is sold, the value of the FLOT increases. Investors also get a percentage of each ticket sold playing their lotteries so your ownership in FLOT should grow.
Who Is FireLotto.io?
This new currency and lotteries are operated by Tavaron Media Group out of Cyprus. It has a snail mail address, a couple of email addresses and click on “contact us” and an email menu opens up. There is also a huge list of the people who are involved in the operations of FireLotto. Actually the list takes up half of their home page. There is also a list of different publications. Click on any of the icons and you open a press release providing more details on FireLotto and their ICO. There are no phone numbers.
FireLotto and their Bottom Line
It’s amazing all the different cryptocurrencies that are popping up all over the place. Theoretically, they aren’t worth anything until you can translate the currency back into cash at the same time there are more and more outlets that take cryptocurrencies. It just means picking one that is actually recognized. But I wonder in playing lotteries here, how much of my investment would go out the window in tickets.
Percentage of Tickets Credited to Your Wallet
Investing & Playing
Where Can I Use My FLOT?
Only Prize the Jackpot
Playing Away My FLOT Investment on Lottery Tickets
This site gets neither a thumb’s up or down. It’s early days for their lottery side with a fairly limited jackpot at this point. Plus, the only thing I could do with my FLOT is continue to play more lottery games.