LOTEO — Lottery Platform

4 min readJul 18, 2019

What is Loteo?
A Digital Automated Lottery Platform that used blockchain and smart contracts to create a fully transparent lottery,
where your chances are incomparably higher compared to conventional lottery.

Playloteo is an automatic digital lottery that is achieved through code as a substitute for being run by way of people. The lottery will, first on a weekly, and later on each day basis, draw a random Ethereum address from a pool of users. The draw will be based on a random range era machine that will have a publically-viewable code on GitHub and also on Ethereum Network. The winner shall acquire 75% of the prize pool as a reward, which will be sent to their Ethereum address.

Not only will Playloteo make this structure of gambling accessible to more humans than ever, but it will additionally address the issue of having faith as it will be done via a smart contract, the code of which will be publically-viewable on GitHub and also on Ethereum Network. Through a mixture of international reach, transparency, and automation, LOTEO goals to turn out to be the enterprise general in the rising market for digital lotteries.

Advantages LOTEO

I.Chances to Win

Chances to win are much higher than in conventional lotteries because of our mechanism.

II. Trustworthy

By being governed by smart contracts rather than governments or private individuals, the drawing process becomes automated and trustless.

III.Transparency

Thanks to blockchain technology and using cryptocurrencies for lottery entry, LOTEO is 100% transparent and all transaction as well as prize splits can be viewed at all times, instead of traditional lotteries, where you don’t know the number of attendees, prize amount, nor even if its fair nor manipulated, as there is central authority.

IV. Winner every drawing

Unlike in classic lottery, where you need to tip right combination of numbers and the winner is once/year.

V .Biggest slice for the winner

LOTEO feels a strong need to provide the best user experience, that our customer, especially non crypto familiar, are used to, that’s why there will be integration of credit card payments as well as mobile message payments.

VI. Speed

Thanks to blockchain technology and cryptocurrency usage, Loteo is incomparably faster than traditional lotteries.

Future outlook

Global trends such as the lengthy term amplify of cell smartphone penetration, internet penetration and the proliferation of blockchain applied sciences will furnish best conditions for the increase of the on-line playing market, together with the on-line lottery industry.

Growth will be pushed by the upward shove of draw-based video games and scratch-off immediately video games across European countries as properly as other developed regions. The increasing center of attention on funding in new applied sciences (including blockchain), enhancing the understanding of lotteries, and achieving far-away audiences by way of the internet will propel the transformation of the market.