Each of us played a lottery at least once in our life. Someone is spent for such entertainment regularly, and someone is enough once to be disappointed in the transparency of the rules and the probability of winning. However, there are a lot of lotteries - private and national, electronic and mechanical, in special institutions, live television and online. The rules and organization are different for everyone, but most share a common feature: control over their honesty is almost impossible, the creators of the Firelotto lottery lot are sure.
Despite this, people in all parts of the world continue to experience good luck in the hope of multi-million dollar wins. The capitalization of the lottery business has been growing steadily and at the moment is more than $ 280 billion - and this is one-third of the world's gambling market. More than half of all sales of lottery tickets are in the US and Western Europe.
Technological innovations gradually change the appearance of lotteries, pushing back the purchase of tickets in the banks' cash desks and the mechanisms that throw balls with numbers, but the principle remained unchanged until in this segment of gambling they tried to apply blocking technology.
The decentralized crypto-exchange platform has allowed to avoid state regulation and to achieve instant payments in case of a win, but questions of the random number generator, the ways of filling funds and investing are still relevant. The developers of the Firelotto lottery lottery decided to try to answer their own challenges.
According to the creators of the platform, this is a public lottery, since it will work until they want to play it, and while it will be played, the prize fund will be replenished. Any interested person can become an investor. At the moment the project is at the ICO stage.
According to the creators of Firelotto, the initial fund will be made up of 30% of deductions from the sale of tokens. Then, at the launch stage, the ticket office will be filled at the expense of 70% of deductions from the collection from ticket sales, whose cost will be at the start traditional for most lotteries $ 2. Winners will receive their money in the Ethereum crypto currency.
As a "lototron," the platform will use the bitcoin block, getting numbers from the unique code of the last extracted block of coins. According to the creators, the guaranteed and instant receipt of money in case of a win will be secured by a smart contract based on Ethereum, which can not be hacked or changed unilaterally. At the same time, no taxes and de-nomination of players. All you need for the game is a crypto-currency purse and the Internet.
The creators note that at the start of Firelotto will offer two game modes: a draw lottery and an instant "Roger's wheel". The first assumes three variants of the drawings: 4 guessed numbers out of 20, 5 of 36 and 6 of 45. Six hours after the sale of the circulation, the winning bit numbers are determined from the bitcoin block.
In the categories for 4, 5 and 6 guessed numbers, the winnings are calculated as a percentage of the prize fund amount. If several winners win the jackpot in one draw, the winnings will be divided equally. If there are no winners, the fund is added to the next drawdown jackpot - it will grow until the winner is found.
The developers add that the mode "Roger's wheel" - something in between the "Wheel of Fortune" and "One-armed bandit". The player determines the bet size (up to $ 2000) and the coefficient, on which it is multiplied in case of winning. A player's "rotated" wheel has sectors with different coefficients and losses. In the case of winning, the amount is credited to the crypto. The random number generator in this game works on the blockbuster Ethereum.
The creators argue that the platform will deduct 10% to holders of tokens from each sold circulation of tickets, and promise a profitability of 20% to 50% per annum. According to them, given the territorial unlimitedness of the lottery, tickets will be able to buy up to 100 million people already in the first year of the project, which should mean a 12-fold increase in the yield of tokens.