Lottoland launch world's first bitcoin lottery with a jackpot of 1000 bitcoins worth £12m

This year has truly been the year of Bitcoin, as the value of this cyber-currency has soared from just under £1k in January to over £12k in December.

Lottoland - the the global leader in lotto-betting - is launching the world’s first officially licensed Bitcoin lottery . The jackpot is 1,000 Bitcoins, worth approximately £12 million, but who knows what they’ll be worth in a year’s time?

The Bitcoin Lotto draw is based on the result of the Spanish ‘Bonoloto’ lottery, which takes place every day from Monday to Saturday at around 8:30pm UK time.

To make a bet, you need to select six numbers from between one and 49.

There are five prize tiers, meaning that you can win if you choose just two numbers correctly.

You can see the provisional prize breakdown below, although bear in mind that the pay-out figures are just estimates:

Tier 1: 6 matching numbers = 1000 BTC prize money
Tier 2: 5 matching numbers = 1 BTC prize money
Tier 3: 4 matching numbers = £50 prize money
Tier 4: 3 matching numbers = £5 prize money
Tier 5: 2 matching numbers = £1 prize money
A bet normally costs £3 per line, with the chance to win at least 1,000 BTC. If the jackpot is not won, then it will roll over the next day, and keep increasing until Lottoland have a jackpot winner.

Thought Bitcoins were for other people? Then think again, because now you can get your own piece of that valuable virtual currency if you're lucky enough to win.

Lottoland pride themselves on being the leading innovators of the lotto world, which is why we they are so pleased to be able to present the world’s first and only Bitcoin lotto.

This article first appeared on mirror.co.uk