It is fair to say that few of you will need any sort of introduction to lotteries and how they work. Lottery games have been around since the dawn of time – alright, at least since ancient China. Legend has it that lotteries were first created to raise taxes to fund the Great Wall of China. Irrespective of the truth of this, most civilizations, cultures and nations have had their own take on lotteries. By and large, they all work in essentially the same way.
Cryptocurrency betting may not be a culture or a nation, but this industry has also put together its own form of lottery – in fact, many of them exist. Surely bitcoin lottos work in the same way as the others, right? Join us as we explore how bitcoin lotteries are run and look at some of the leading bitcoin lottery sites you can choose to join.
What is a bitcoin lottery game? At its most basic, a bitcoin lottery is no different than any other type of lottery. Tickets are bought, and some will be deemed winners, while others fall short. Each bitcoin lottery game may have its own parameters. Some are unique to one site over another, and some are networked, ensuring that they appear at a wealth of different platforms and operators’ websites. Ultimately, we’ve covered all these bases on our page, so you can find the ideal lottery for you.
In the next section, we will look at the key components of bitcoin lotteries, how to buy tickets and how they work. Let’s get started…
Obviously, the defining feature of any bitcoin lottery is that you purchase your tickets using BTC, and your prizes are paid out in bitcoin. Some lotteries have considerably larger jackpots than others, but the same is true of fiat currency lottos, such as EuroMillions and Mega Millions. After heading to the bitcoin lotto site and signing up, you can deposit via BTC and purchase tickets to the game. The regularity of these games varies from site to site.
There are two types of bitcoin lottos that we’ve come across. One of these acts more like a prize draw or a raffle. Here, players aren’t purchasing a ticket filled with numbers. Instead, they are buying a serial number. During the draw, serial numbers will be chosen at random. With these types of draws, it is not impossible that multiple winners will be drawn to share a pot, or the order of the draw could determine who wins which prize.
The second type of bitcoin lotto is far more conventional. Here, you can either pick your own numbers or select a “Lucky Dip”, whereby your numbers are chosen for you at random. During the draw, numbers will be drawn as normal, and players who match up specific combos of those numbers will win prizes according to their matches. Naturally, the player who matches all the numbers and any bonuses (if there are any winners at all) will pocket the top prize.
Bitcoin lottos always pay out their prizes in BTC. Like true lotteries, the more players there are joining the lottery, the larger the jackpot tends to be. Some lotteries (namely those involving serial numbers) are guaranteed to see one or more jackpot winners. Lotteries where numbers are drawn and where there is no winner will often roll over their jackpot to the following draw, and so on. In this manner, the jackpot can grow to a considerable size. It may roll over indefinitely until it is won, or there may be a cap, at which point if the lotto remains unwon the bitcoin player or players with the second-highest tier of numbers, or third-ranking, and so on, will pocket the top prize.
You may be wondering, why play bitcoin lottos? Why not play major fiat currency lottos such as the EuroMillions or the Mega Millions. Well, firstly, those lotteries are usually only available to players in selected countries. Americans can’t readily join the EuroMillions, for instance, and Brits can’t get a slice of the Mega Millions’ action. Sure, there are lottery ticket agent sites that try to facilitate this, but they aren’t entirely kosher. However, BTC lottos are open to everybody, no matter where they reside. There are other perks to playing bitcoin lotteries, too, and they include:
Bitcoin lottos are often Provably Fair. This means that a regulator or authority has checked the blockchain to ensure that the technology that runs these lottos is fair and that no cheating has occurred.
If you’re playing from somewhere where gambling (even lottery betting) is illegal, then BTC lottos are for you. Bitcoin lotteries offer anonymity as you’re dealing with cryptocurrencies, allowing players from everywhere to get a slice of the action.
You seldom have to wait for weeks to pocket your prize, and you certainly won’t have your doorbell rang by a Z-lister celebrity wafting a comically giant cheque aloft. Instead, your lotto wins are paid out immediately via bitcoin, and more importantly, they are discreet. This means you won’t have relatives and “friends” desperate for a handout because they’ve read about you online.
Ultimately, playing bitcoin lotteries can also be fun because it is different. The rules regarding gameplay, the cost of tickets and the prizes differ from conventional lottos, and that makes them exciting.
Before you start betting on lottery games, you need to find somewhere to play. Finding a bitcoin lottery game online isn’t easy unless you know what you’re looking for. Fortunately, we do. We’ve got a great host of bitcoin lottery sites right here for you to check out. Each has been analysed, exclaimed and reviewed, so you can consider yourself fully in the know about what these sites and their games can offer you.
If you’ve got questions about bitcoin lottery games, we’ve got the answers. Check our FAQ below to see if you can assist you?
No. Regrettably, these lottos are off the table. However, bitcoin lottos are specifically designed for BTC bettors and are, therefore, more ideal.
The amount you can win is relative to the number of tickets bought (overall), minus a small commission for the organiser of the lottery. You also have to factor in how many winners there are.
No. In fact, not many top bitcoin casinos have their own lottery game, even if they have lotto-type titles for you to play. You can easily find bitcoin lotto games at our recommended sites, though.
The minimum combination you need to have varies from game to game. However, like other lotteries, BTC lottery games typically require two balls and a bonus, or three balls to pocket a win.
Most bitcoin games aren’t exactly legal, and that is because few sites have obtained a gambling license. However, we wouldn’t be concerned too much about them being legal. Instead, we’re more than happy to play them, provided they are fair and safe. All of our recommended BTC lotto sites (and their games) certainly are.