LOTEO

LOTEO

Iyus gmb

LOTEO - Lottery needs a revolution and a digital era Lottery

Dear bounty hunter and investor!

This time I want to invite you as well as introducing a gambling project, of course there are very many gambling sites out there, but this is very different and has its own differences from other gambling sites, if you are curious about this project, you can immediately see the reviews that have been I made it for you, so that you can understand about the LOTEO project and understand the game presented on their website,following the review below...

Abstract

Lotteries are a very popular form of gambling, but they face a number of long-standing issues. States may restrict their citizens from participating in lotteries, or they may restrict their choice to a single state-run monopoly. Trust in conventional lottery organizers has been eroded through scandals as well as a lack of transparency that has been present since the game’s inception.

LOTEO is an automated digital lottery that is executed via code instead of being run by people. The lottery will, first on a weekly, and later on a daily basis, draw a random Ethereum address from a pool of users. The draw will be based on a random number generation system that will have a publically-viewable code on GitHub and also on Ethereum Network. The winner shall receive 75% of the prize pool as a reward, which will be sent to their Ethereum address.

Not only will LOTEO make this form of gambling accessible to more people than ever, but it will also address the issue of trust as it will be executed via a smart contract, the code of which will be publically-viewable on GitHub and also on Ethereum Network. Through a combination of international reach, transparency and automation, LOTEO aims to become the industry standard in the rising market for digital lotteries.

Introduction

This is a list of gambling times. Today, officially licensed lotteries can be found in the world1. Although it is a limited or monopolized form, they are

Until recently, the lottery was either a local market or a market2. USA, USA (3), United Kingdom, Australia, USA operating on a larger scale, but still relatively large lotteries. France, Switzerland and Germany.

There is a fully digital platform. Another important task is the development of lotteries.

Trust is always an integral part of successful lotteries. It is made of transparent, fair and randomized. Many scandals, both recent and past, have undermined the reputation of ordinary centralized lotteries.

MaxLotto was such an example. A fully digital lottery licensed in the Dominican Republic in 2001, announced the size of $ 100 million. However, by 2002, MaxLotto.com fully promised the jackpot. It was not paid.

Regular lottery is not much better, in 2017, Eddie Tipon, former director of security. Colorado. Wisconsin, Kansas and Oklahoma, receiving $ 2 million in illegal winnings.

In an effort to provide additional control, the state often takes the initiative in managing lotteries within its borders; State monopolies exist in many countries (for example, in Brazil, New Zealand and the United Kingdom).

However, transparency is truly extremely lacking for actual management, even in the toughest national lotteries. In addition, many of them must be automated, transparent and honest.

Future prospects

Global trends, distribution and distribution of mobile phones, providing ideal conditions for the growth of the online gambling market, including the online lottery industry.

The growth in the number of games will depend on the number of games in Europe and other countries of the world. Increasing attention to investment in new technologies (including blockchain), improving market perception and market promotion.

In the case of the global economy of

The United States of America, the United States of Nevertheless, there are trends towards transnational lotteries, such as Euromillions, Powerball and / or digital lotteries.

The global non-banking segment (1.7 billion people).

opportunities

Global factors, such as increased Internet penetration, mobile computer and PC ownership, and wider adoption of cryptocurrency, 9 indicate a growing demand for fully digital lotteries that overcomes current customer problems, such as lack of trust and personal information requirements.

Blockchain technology can not only provide a safe and transparent method of organizing a lottery, but also use new market segments, in particular the global segment of non-banking customers, as well as regional markets with restrictive legislation. The lottery based on smart contracts would offer an automated, secure and transparent platform for this form of gambling.

Loteo solution

LOTEO  is a fully automated lottery platform that uses blockchain and smart contracts to create a completely transparent lottery, where your chances are incomparably higher compared to regular lotteries.

There are several problems with lotteries in the "classic" style, which we reviewed with the help of LOTEO.

  • Chance to win
  • Unlike regular lotteries, in which you bet against an unknown number of drawn numbers10 , in  LOTEO  you bet only against other purchased tickets, the amount of which is several thousand times less than the number of potential winning combinations in standard lotteries. Thanks to the blockchain, the system is transparent, and you can track all transactions. You have a chance to win every time a lottery is held, since you only bet against a certain number of participants, and there is a winner in each hand.
  • transparency
  • All transactions and prizes are available for viewing on the blockchain at any time.
  • Trust
  • By managing smart contracts, not governments or individuals, the drawing process becomes automated. There are many problems with modern blockchain-based platforms. They are often too complex, suitable only for crypto enthusiasts, offering a simple design that is neither attractive nor user friendly. The global lottery market costs about $ 8 billion.
  • The goal is to provide a lottery platform (MVP 31/3/2019), which has been improved. LOTEO seeks to withdraw 0.1% of this market in 1 year. This will be achieved through the world of global cryptoindustry, as well as the world famous global athletes.

How does the lottery work?

Users participate in the weekly LOTEO lottery using a third-party seller. Every week we have a weekly lottery. Later,  LOTEO  will be a lot more regulated by the same rules.

The LOTEO Weekly  Lottery  will be conducted as part of a smart contract using a certified random number generator (RNG). It’s a random number draw, so it’s possible to make a draw.

After the winner is chosen, Ethereum. All code will be published on both GitHub and Etherscan. The prize will be divided as follows:

75% for lottery winner

20% for LOTES owners

Acquired by ticking the user he registered

1% is given to a charity chosen by  the LOTEO community .

Payment system

Users participate in registering their address by Ethereum.

Understandably, the ticket is done with the Ethereum cryptocurrency. The user is able to check all transactions on the blockchain at any time. This is a method of payment for people who are familiar with crypto. There will also be Metamask integration for easier payments. Bitcoin and other cryptocurrencies. Of As  LOTEO  strives to the make the process as with the Purchasing simple as with the Possible for all the users in order to GAIN the maximum amount of Them,  LOTEO plans to provide additional payment options such as Bitcoin or other cryptocurrencies such as US Dollars or Euros. However, they will be currently users. Payment options will be later extended with mobile transfers and mobile transfers.

LOTEO  is in Talks with mobile providers to to kriptoplatezhnyh terminals of the future Possibilities  LOTEO integration  in payment terminals. LOTEO  strives to have as many outlets as possible in accordance with all regulatory restrictions. It is also planned to use the third-party sales network. It is not clear that there is a situation in the national level. FIAT must be exchanged for cryptocurrencies through a broker and obtained on  the LOTEO platform .

MOBILE APP

It's not a  problem  . However, since Apple’s iStore doesn’t need to be online, it's not a problem. Users will receive 100 applications on their phone, regardless of the version of Apple or Android. Technical specifications will be clarified later. LOTEO  seeks to offer lottery tickets through its application. It is not a question of how much it can be. The first quarter of 2020.

Token structure and usage

Security marker

A security LOTES Is the token which is Meant to the BE in the private only sold A Funding round ( the the STO ) Accredited contributors to venture from Capital funds. There will not be a public sale. If you’re part of a lot of money, you'll be able to get it. LOTES are locked for 15 months. After the rst pass 15 months, there will of the BE another round of the the private sale DURING which the  LOTEO  unlocks 30% of all tokens, where it will be sold. After 15 months, it will be decentralized, and it will prevent manipulation of the lottery. It is a marker that also makes it possible.

Road map

First quarter of 2019 - legal and project financing

Weekly lottery testing phase

April 1 - MVP with weekly lottery launch

The official launch of Loteo Web

Q2 - MVP Testing

May 1 - soft start

June 1 - Hard Launch

Launch promotional campaign

BTC Payment will be available

Q3 - Daily Lottery Launch

Implementation of payment cards

Enable local payments for mobile messages

Q4 - 3rd launch of the game Loteo

Spreading mobile payment messages

2020 Q1 - Loteo app for iOS and Android

Special announcement

Q3 - integration with external API, unlocking LOTES

2nd round of LOTEO Games

Q4 - LOTS Exchange listing

2021 -  LOTEO  Bets - P2P betting system

LOTEO tickets will be available through third parties.

2022 -  Launch of  the LOTEO B2B platform

ACCURATE INFORMATION

AUHTOR: iyus gmb

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