It is no longer news that the lottery is big business. It is commonplace to have organizers put together a charade to extort money from participants. With the control exerted by these organizers, they are capable of fleecing participants without the latter being the wiser. The internet might have made gambling only a click away, but figures on lottery winners don’t appear to be on the increase. Have you ever wondered why this is the case?
You would expect payment of lottery winnings to be made possible swiftly and seamlessly, but that is not exactly the case. Besides the hefty transaction fees attached to receiving lottery winnings and the stunning levies involved, you’d still need to wait several days before such is available. Also, what is with all the marketing gimmicks attached to receiving your winning? Holding a large check and taking pictures for the media is as dangerous as playing with a venomous snake. The quest for money would surely lead many people down the darker path of lies, deceit and stealing to covet winnings from successful lottery participants. This explains why winners would often shield their face from the public using masks and all what not.
The Loteo Masterstroke
Blockchain is being exploited greatly and in every avenue possible. Its potential as a framework for a lottery platform isn’t as popular as you might have expected. Loteo isn’t giving it that much thought though as they have gone all guns blazing with the launch of their own lottery platform. With the transparency of the blockchain, its immutability, and smart contracts, the Loteo platform gives participants access to every detail regarding the lottery they signed up for. Nothing is hidden on the digital ledger, so you don’t have to be worried about some hanky-panky activities by Loteo.
Want some privacy when you hit it big on the lottery? Payment is done on the blockchain, and no one demands your presence. Payment is secure, so you would definitely be getting paid. Unfortunately, the ‘winner takes all’ mentality isn’t applicable to the Loteo lottery as holders of the startup’s token get to share in your gains. It is certainly not what you want if you don’t like sharing. But you get to keep about 75% of your winning which is still substantial.
Lottery players would find the Loteo platform desirable since winners will always emerge. This is contrary to existing lottery events where participants are expected to match the ‘lucky numbers’ before anyone is declared the winner. And this explains why winning the lottery is considered near impossible. Since there is always a winner regardless of outcomes, a winning mentality is plausible.
Clearly, Loteo has its sight set on demystifying the lottery as we know it. Conventional lotteries are about to find out it is no longer business as usual. Their money spinner is slipping through their grasps. It is just a matter of time before push turns to shove. After all, who wouldn’t want to participate in a contest where there is bound to be a winner as opposed to another skewed to appear like a light-tunnel scenario?
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