There have been a series of ways of making money online since the invention of digitalization. This development has been a rewarding one so much that many people are making their cash from online activities. There exist several numbers of online activities that fetch cool cash without defrauding anyone.
Some people use to engage in betting, digital currency investment, trading of goods and rendering of service; all carried out online. One of the most populous activities that fetch cool cash for participant these days is online gambling activities. These activities are based on how good you are at forecasting and most important how lucky you are.
A common game which has gain recognition along the years is lottery form of online gambling but currently, this gambling has as issues which have been battling with it for a long time. This issue is as a result of some countries resistance to citizen participation in this game.
Instead, they only provide a single government monopoly lottery for the participation of their citizen that must involve in this game. This is because the organization that runs a conventional lottery does not make their game transparent and trustworthy. This made so many people question their process of running it and the government finally stop them from functioning.
Thanks to digital advancement which facilitate the creation of the digital era lottery called Loteo.
WHAT IS LOTEO?
Loteo is a digital age lottery with an automated execution process. This lottery is operated through code and not my man. This lottery is carried through the generation of a random number which will have a code that viewers will use to follow the random number generation on Github and Ethereum network. 75 percent of the pool prize will be sent to the ethereum wallet of all the winners.
ISSUES BEHIND THE GROWTH AND PARTICIPATION IN THIS GAME
There many problems affecting the involvement of people in this game and this has tremendously streamlined the growth of the game.
- Manipulations Of Pool Results
- There is a high degree of manipulation in the lottery exercise. Though the lottery organizer claims to thoroughly scrutinize the winning process, still there is manipulation which is majorly against the participants.
- As a result of the centralization process of this lottery, the organizers carry virtually all the power which he can decide to abuse at any time since the lottery is run behind the camera.
- Huge Profit On The Part Of The Organizer
- Those lotteries which are transparent and free from manipulations covet a very huge amount of the gambling prize. Most of this lotteries claim a profit that is not less than 50 percent of the ticket sold leaving winners with the remaining 50 percent.
ADOPTED PROCEDURE THAT SOLVES THE ABOVE CHALLENGES
For those identified shortcomings not to affect the advancement of loteo thereby bringing it out of peers and equals, the following measures are put in place;
- Smart Contract
- The loteo lottery is built with complete automation. The transparency of this lotteries is provided with the use of this smart contract. The chances of its users cannot be compared to the of any conventional lotteries.
- Winning Chances
- In Loteo lottery, your betting is between you and those who purchased lottery tickets. With the help of the blockchain system adopted by loteo, it is possible for you to track and monitor all transactions giving every lottery participant an equal chance of winning. Winners are announced and rewarded at the end of all draws but for the Conventional lottery, winners are award yearly and the participant does not know the number of people they are playing with.
- The Loteo has unlimited trust due to the fact that the game is a decentralized one. It is neither monitored by a government nor any private person but the smart contract.
REWARD PROCEDURES OF LOTEO
The Loteo draw will be conducted on both a monthly and weekly basis. The crypto and amount generated from the ticket sold is the source of reward for the participant. The lucky winner at the end of each of the draw will have 75 percent of the revenue generated (crypto and money) from the sales of the ticket, 20 percent is to the token holder, 4 percent for affiliate and the remaining 1 percent goes to the charity.
Dear gambler, though you have been playing lotteries with slim chances of winning due to circumstance around the game. However, I now present to you, a game where all can win. Utilize this opportunity and see what it takes to partake in a transparent lottery.
Join me peruse through a well-drafted roadmap that showcases the Loteo project milestone landmark below:
CONCLUSION AND TEAM:
Like I said earlier, Loteo is a revolutionary cutting edge digital lottery backed by blockchain to bring new rewarding processes to the ecosystem
For more, click below:
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