LOTEO: AN INNOVATIVE DIGITAL AND AUTOMATED LOTTERY RUN VIA CODES TO BREAK BARRIER OF LOCAL INVOLVEMENT

anderhart (43)in #blockchain • 5 years ago

OVERVIEW:
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Gambling today is fast becoming a universal phenomenon following a series of gambling types, including procedure; with one pertinent illustration being lottery.
As at today, this type of gambling has been accepted and licensed officially in nothing less than half of the countries across the globe. Though it is not authorized by some countries while some countries have monopolized it, this does not reduce its fame as it is extremely known across countless regions.
Recently, there is a restriction on the level of coverage of the game to national or local markets. The raffles with much fame are those located within most populous, largest and wealthiest markets. Such as; the UK, U.S, and Australia.
There are few lotteries running in European countries like Germany, Italy, Switzerland, Spain, and France but they are not as popular as those in the country earlier mentioned.
With the introduction of digitalization, this gamble can now be operated as a digital platform thereby giving it the ability to transcend beyond the local level. People can now gamble across continental borders.
Base on the introduction of digitalization, Rastislav Bakala, A co-founder and the CEO of Loteo created a raffle ecosystem to breach the barrier of local involvement in the lottery activities and as well as entrenching the lottery process more transparent and reduce the cost of playing via block chain usage.

BRIEF INFORMATION AS REGARDS LOTEO
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Loteo is a lottery that is automated and digital. The lottery is uniquely created to be run through codes and not human. At first, draws are carried out on a weekly basis but now it's done on a daily basis.

FEATURES THAT DISTINGUISHES LOTEO FROM OTHER LOTTERIES
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Winning Opportunities
The winning opportunity of Loteo is higher compared to any conventional lottery. This is because of the mechanism adopted by the platform.

Trustworthy
As a product of its smart contract governance, the process of carrying out draws is automated and therefore trusted. Unlike other conventional lotteries that are controlled by bias individuals and governments.

Transparency
Due to the adoption of block chain innovation and entry of the lottery with crypto, Loteo is absolutely transparent. All the prize splits and transactions can always be monitored. Taking a cursory look at the Loteo structure, everything is completely transparent. It is about integrity, transparency and due diligence that they set as the main goals of their project. The whole process on the platform is built on block chain technology and smart contracts, which guarantees fair play. At any time, players can see the number of participants; get acquainted with all transactions and details of the drawing, as the information is completely open. Here you can be 100% sure that the drawing is basically conducted in compliance with all the rules, since smart contracts exclude interference in the process of third parties, and the winner received the prize almost instantly. Blockchain technology absolutely eradicates every iota of manipulation of the draw, as well as reward fraud aboard the system
Speed
There is no way the Loteo speed will have a comparison with that of any traditional lottery as it is unarguably fast. This resulted from the block chain approach employed.

THE STRUCTURE OF LOTEO TOKEN
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The Loteo have two different tokens which include LOTES and LOTEU.

LOTES
LOTES is the Security token of the Loteo that is to be sold during the private funding stage. This token will not be sold publicly. This token gives its holder the privilege to enjoy 20% of the entire total worth of each prize even though without being an attendee.

LOTEU
LOTEU is the Loteo Utility token. This token is purposefully created for marketing use. It gives you access to partake in the Loteo lottery.

BENEFIT FOR HOLDING LOTEO'S TOKEN

As a token holder, you shall get yearly returns of nothing less than 40% of the revenue generated by Loteo.
When you have the platform's utility token, you have an increased chance of winning your games as it skyrockets your ticket number.
As security token holder, you will be given Ethereum whenever there is the lottery draw.
There is the redistribution of 20 percent of the outcome of price pool to those who are holders of the security token.

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ROADMAP:
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CONCLUSION AND TEAM:
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Are you a businessman and looking for what you can invest in that will give you interest in no time, then Loteo is an option even if you don't gamble, your yearly portion of the revenue is always available.
To the gamblers and lottery enthusiast, Loteo is the best lottery where you enjoy the palatable experience at its peak. Why not try playing of its game today and confirm what am saying?