Today, official licensed lotteries can be found in almost half of the countries in the world. Although some governments limit or monopolize this form of betting, they are undoubtedly popular in many regions.
Lotteries are a very popular type of bet, but they face a variety of old problems. States can limit their occupants to take part in lotteries, or they can limit their decisions to business models run by the government. Trust in the ordinary lottery coordinator has been dissolved through anger just because there is no directness available from the start of the game.
Loteo is a digital automatic lottery platform that uses blockchain and smart contracts to make lotteries that are fully transparent, where your chances are much higher than conventional lotteries. LOTES is a security token that is intended to be sold only in private funding rounds (STO). There will be no public sales, for all investment requirements, please fill out the form on the website. This token gives the owner the opportunity to profit from being part of the lottery without being a participant in the amount of 20% of each prize value. LOTES was locked for 15 months and during this time it was impossible to buy or sell it elsewhere. After the first 15 months have passed, there will be another funding round as long as LOTEO will sell at least 30% of all tokens in accordance with legal and regulatory requirements. All details will be disclosed before this event. After selling this token, the token will be listed on the exchange. After 15 months, a maximum of 20% of all security tokens will be owned by the lottery while 80% will be decentralized, preventing lotteries from being manipulated. Tokens also have a government function, which means that any significant changes must be reached by consensus and holders of any tokens can issue suggestions or vote.
FEATURES
Lottery Global Lottery
online is an established industry, which has existed in several forms since at least 19975. The global online lottery market is estimated to reach revenues of more than $ 10 billion by 2023, growing at a CAGR of around 8% between 2019-2023.
Future prospects
Global trends such as the long-term increase of mobile penetration, internet penetration and the proliferation of blockchain technology will provide ideal conditions for the growth of the online gambling market, including the online lottery industry.
Growth will be driven by the rise of draw-based games and scratch-off games in European countries and other developed regions. The increasing focus on investment in new technologies (including the blockchain), increasing perceptions of the lottery, and reaching distant viewers through the internet will drive market transformation.
Current problem
Lotteries, like all forms of gambling, can be manipulated against participants, even though the high level of supervision claimed by the organizers. Because of the high level of centralization, organizers use a large amount of power that can be misused due to the lack of transparency in the current lottery. Even without manipulation, the lottery is profitable for the organizers, with many claiming profit margins of up to 50% of ticket sales.
Opportunity
Global drivers such as increased internet penetration, ownership of cellphones and PCs, and increased adoption of cryptocurrency9 lead to greater demand for digital lotteries all that address current customer problems such as lack of trust and requirements for personal information.
Blockchain technology can not only provide safe and transparent lottery organizing methods, but can also take advantage of new market segments, especially customer segments without global banks and regional markets with strict laws. The smart contract lottery will offer an automated, safe and transparent platform for this form of gambling.
Solution
Loteo LOTEO is a fully automated lottery platform that uses blockchain and smart contracts to create fully transparent lotteries, where your chances are much higher than conventional lotteries.
With the Smart Contract on the Blockchain, the platform is owned by anyone, but is owned by everyone. Individuals or groups of people cannot determine who the winner is. This is the fairest way to run a lottery. The Smart Contract Code will be publicly visible on GitHub and also on the Ethereum Network. Through a combination of international reach, transparency and automation, LOTEO aims to become an increasing industry standard in the digital lottery.
How the lottery works
Users enter the lottery by purchasing a single ticket for the LOTEO weekly lottery using cryptocurrency Ethereum, or through third party merchants. Each Ethereum wallet address that has purchased an entry is then registered as a participant in the LOTEO weekly lottery. Later on, LOTEO will add daily lotteries that are governed by the same rules.
LOTEO lotteries will be executed through smart contracts that will use a random number generator (RNG), a code that will be publicly visible on GitHub and Etherscan. The collection of images only consists of lottery tickets (based on the Ethereum address of the appetizer) instead of drawing random numbers, therefore each image must have a winner.
Opportunity to win
The opportunity to break the bank in the usual lottery is so small that it tends to zero. But in the Loteo project, the situation is a little different. Here the opportunity to win is very big and true.
Winner
If in a regular lottery, the winner depends on the combination of numbers shown, and if it does not exist, then there is no winner, then in the Loteo project, the winner will always be. And if in an ordinary lottery, you can manipulate the number of winners, then in our situation, that is not possible. In ordinary lotteries, we can wait for winners for weeks and months. In the Loteo project, the winner will be in each lottery.
Transparency
Many people consider the lottery cheating. Part of this, because it is possible to manipulate the results with the help of interested parties. They may be dishonest creators. The Loteo project works on blockchain technology, which guarantees 100% integrity for participants.
Payment method
Lottery habits are paid for using fiat funds. The Loteo project not only provides Fiat, but also now popular cryptocurrency, whose numbers will only increase in the future.
Speed
Speed is another advantage of Loteo. Speed is related to the draw itself and the speed of payment of prize money to the winner. Once again blockchain technology has come to save us.
No one loses
That will be an item, I will choose mainly. This is explained by the fact that each Lotes token holder will receive a small gift just to store tokens in their wallet. In the usual lottery, when we buy tickets and lose, you can forget the prize money forever. In general, winners will receive as much as 75% of the lottery collection. 20% will be distributed among token holders, regardless of whether the person has won or not. 4% is a prize from the winner to the person who invited him to the project. 1% will be given to charity.
How do affiliate programs work?
For the first ticket purchased by registered users through an affiliate link, the affiliate partner will receive 50 LOTEU (utility tokens) + 4% of each ticket value purchased at ETH, while newly registered users will receive 100 LOTEU. Note: every 100 LOTEUs (2 registered users) will double the chances of winning. During LOTEPASS reference sales, each affiliated partner can request 500 LOTEU and 4% of the value of each ticket at ETH.
Affiliate partners have the right to be rewarded with every sale of the wholesale LOTEOMAXX package. However, wholesale package bonuses (10, 20, 50, 100) can only be requested once per user, per year. There is no limit to 4% of each ticket value at ETH.
Economic token
There will be 2 tokens:
- Loteo Security (LOTES)
- Loteo Utilities (LOTEU).
Security Token
LOTES is a security token that will only be sold in the personal financing round (STO) to taxpayers accredited by venture capital funds. There will be no public sales. This token gives the opportunity owner to protect himself from being part of the lottery without attendance in an amount equivalent to 20% of the total value of each prize. LOTES were blocked for 15 months and during this period it was impossible to buy them or sell them elsewhere. After the first 15 months, there will be another round of personal sales where LOTEO will open 30% of all tokens and it will be sold to accredited employees. After selling these tokens, tokens will be listed on various exchanges.
Utility Token
LOTEU is a utility token that will be used for marketing purposes. When you buy additional entries to the 100 LOTEU lottery, it will double your chances of winning the lottery. Lots of airdrop from these tokens will be made directly to the community and through LOTEO's marketing partners, and there will be a lot of competition to be provided with LOTEU. LOTEU tokens will also be distributed through a prize campaign according to LOTEO's marketing plans and official announcements via the communication channel. There are long-term betting plans in the future with LOTEU for B2B platform purposes that will be determined before the second round of project funding takes place. Price of 1 LOTEU is not determined precisely because there is no sales event,
I concluded the article that considers Loteo a very interesting project. There are many blockchain-based lottery projects on the market but, if Loteo respects Whitepaper's promises, it will definitely prove to be one of the leading projects. I remind you that the platform is running and running and you can participate in the lottery by going to the following address after registering!
Roadmap
2019 Q1 - Legal & Project Funding
Weekly lottery testing phase
April 1 - MVP with Weekly lottery launch
The official Loteo Web launch
Q2 - Testing MVP
MAY 1 - Soft launch
JUNE 1 - Launch is difficult
Launch of the promo campaign
BTC payments will be available
Q3 - Daily lottery launch
Apply the possibility of card payments
Enable Local Cellular message payments
Q4 - Launch of the 3rd Loteo game
Deploy Cellular message payments
2020 Q1 - Loteo iOS & Android App
Special Announcements
Q3 - External API Integration, LOTES Unlock
2nd funding round & development of LOTEO Games
Q4 - LOTES List of exchanges
2021 - LOTEO Betting - P2P Betting System
LOTEO tickets are available through third parties
2022 - Launch of LOTEO B2B Platform
Information Details:
Website: https://www.playloteo.com
Whitepaper: https://www.playloteo.com/documents/loteo-wp-en.pdf
Facebook: https://www.facebook.com/loteomission/
Twitter: https://twitter.com/loteomission
Telegram: https://t.me/loteomission
ANN Thread: https://bitcointalk.org/index.php?topic=5116114
Author: Mikdad1018
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=2343017
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