Loteo – Making the Near Impossible Appear Realistic

chikky08 (46)in #blockchain • 5 years ago

The lottery is considered one of the hardest things to win. In a typical lottery event, the odds are never in your favor. And this reasoning isn’t farfetched. A centralized control regarding what the winning numbers ensure participants rarely hit the bull’s-eyes. Little wonder people compare playing the lottery to flushing money down the drain.

Another problem with the current arrangement in the lottery space is limited reach. Usually, the lottery organizers set up shop in their country. It is never all-encompassing, so certain countries are left out of the fun. I remember vividly one specific lottery I wanted to participate in, but I was barred due to my locality. Considering the world is expected to be a global village with the birth of the Internet, it does appear stupid that limitations like this exist.

Conventional lotteries have one rudimentary flaw – the winner’s information is blasted all over media channels. It is a marketing stunt that works wonders for them. Often, we see people don facemasks and other items to protect their identity. While it is fun for the onlooker considering how hilarious such a sight is, those wearing the shoe feel the pinch. No one wants to have sudden responsibilities thrust on them just because they won the lottery. There is the security concern that comes with such an arrangement.

Fortunately, there are a few startups plotting on using the blockchain to set up lottery platforms geared at having participants enjoy the thrills of the game without the stigmatization and constraints of the regular lottery. Have there been any successes recorded? I will leave that for you to ruminate on.

Loteo
With the challenges bedeviling the lottery sector and the rising profile of blockchain – it is compared to being as important as the internet – a few emerging digital enterprises have keyed into the enormous potential of the digital ledger. And Loteo is one of such.

What would Loteo do differently? Strategically and on paper, the concept of the startup is as enticing as it is profitable for the participants. With the transparency of the blockchain, it is no longer a centralized pattern which is seen among the conventional lottery events, and this removes the issue of a lack of trust. Players can ride their luck to the end. It is goodbye to the insurmountable odds and the associated risk that come with such. With Loteo, you no longer have to worry about the winning numbers being manipulated.

One of the strengths of the Loteo platform is that participants battle it out among themselves. With the winning number easily accessible on the blockchain, participants can be confident of beating their opponents without any external intrusion.

With Loteo putting their lottery events on the blockchain, participants don’t have their identity on the line when they win. Payments are made through smart contracts and they are secure and free of drama.

Final thoughts
Gambling might be the bane of so many misconstrued perceptions. Playing the lottery should be playful and devoid of hiccups. Loteo intends to make this happen through its digitized approach. Whether the startup succeeds will be decided in the coming weeks.

To have more insight about loteo, kindly do check on the link below

Website: https://playloteo.com/

ANN: https://bitcointalk.org/index.php?topic=5116114

Twitter: https://twitter.com/loteomission

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