Lottery is among the most popular forms of gambling in the gaming industry.
It didn't just begin today as it has been in play for a very long time; and to show you the level of which it is accepted and played globally, a great number of world economies have actually consented to the establishment of lottery spots across their respective countries.
Lottery as a form of gambling sport, has become an integral part of different economic systems of the world. It is rapidly improving and outperforming other forms of gambling sports across the globe.
To show you the extent of it's rapid growth, the emergence of technologies also brought about the emergence of the online lottery system. This is so because, digitization is going on at a geometric pace and every system wants to move towards this digital revolution.
The online lottery has actually proven to be an even better practice than the old and traditional lottery system as it seems to be better equipped to ensure the efficiency of the system.
But sadly, not minding all these gains of the new lottery system, it is still flawed in a number of ways. This is disturbing news for not just the lottery economy but also the gambling industry at large, because this inventive lottery practice was meant to be better when compared with the regular or old lottery systems but it has ended up plagued with imperfections.
SOME OF THE PROBLEMS CONFRONTING TRADITIONAL LOTTERY SYSTEM.
THEY ARE OPEN TO MANIPULATION
Just like different forms of gambling, traditional lottery systems are weak and easy to manipulate. This makes it an unprofitable practice for the users, as they stand a higher chance of losing their assets in a case where the organizers manipulate the lottery outcome.
ABSENCE OF LUCIDITY
This particular issue has also become a nagging issue in this system because the system's operation is not made lucid. Participants are kept in the dark on how the lottery is organized and are forced to take whatever outcome they see, this breeds the next challenge.
ABSENCE OF RELIABILITY ON THE SYSTEM
The lack of transparency in the lottery system brings about absence of trust between organizers and participants which dissuades people from taking part in lottery gaming thereby, distorting the gambling industry as well.
CENTRALIZATION
Lack of decentralized systems is another challenge in lottery, seeing as the organizers control the entire lottery which can result in manipulation as a result of lack of transparency.
These challenges have limited the lottery system for far too long. However, there is a rescue in place. This rescue comes in form of Loteo which is a revolutionary and inventive approach geared towards practical solutions and operations for the lottery industry. Loteo has presented the complete package with an aim to make lottery, attractive, profitable and completely reliable.
LOTEO IS HERE TO RESTORE TRUST TO THE LOTTERY SYSTEM.
Loteo lottery platform is an automated blockchain based platform designed to bring about a tremendous improvements in lottery. It plans on using the blockchain and it's technologies such as smart contracts to resolve the numerous problems which have bedeviled the efficient performance in lottery for far too long.
The participant purchases the lottery ticket and once the user's lottery ticket is selected, the price is sent automatically by the smart contract code execution to the registered ethereum address. Loteo lottery platform increases greatly the winning chance of participants.
Due to its automated design, it is difficult to be manipulated by anyone thereby ensuring fair winning odds or chances.
Loteo will restore transparency to the lottery system by leveraging the use of the blockchain which will make all transactions viewable on the blockchain for the user to access anytime they choose, this way trust which has been evidently absent in this system will be fully restored.
I know that this bags a question of "how?"
How will Loteo achieve all this?
Now let's see the answer to this.
MODE OF OPERATION AND USABILITY
On the Loteo platform, users take part in the weekly lottery by making use of their Ethereum crypto-currency as a means of payment when purchasing the ticket.
Once this is done, the user's ethereum address is registered on the network. To ensure efficiency with total transparency of lottery on Loteo platform, the lottery is carried out with the blockchain technology called smart contract. This great technology ensures total lucidity in every draw thereby eliminating unfair odds present in traditional and offline lottery systems.
The user's reward is not a problem as the smart contract automatically sends their reward directly to their ethereum address.
This is an evidence that Loteo is fully equipped to revolutionize the online lottery system.
LOTEO TOKEN
The LOTEO platform is consist of two custom tokens integrated into the platform to offer smooth operability and usage. Both of these tokens have their respective purposes and work together to present one solid and truly remarkable system.
The Lotes token is a security token which is created for the effective running of the system.
It gives the holders a governing power on the Loteo system.
Loteu on the other hand is a utility token created by the Loteo system which is used for marketing purposes such as the purchase of lottery tickets on the system.
Distribution of Tokens
CONCLUSION
Loteo possess every feature required to boost the lottery system as well as elevate the global gambling industry.
It shows the true meaning of online lottery system as it has proven to be far more superior to the regular online lottery system. Loteo is just what is needed at this moment to improve and completely change this industry for the better.
For more information about the Loteo Project, kindly access the official channels below:
Website : https://www.playloteo.com?referral=fqdJAJV9
Whitepaper : https://www.playloteo.com/documents/loteo-wp-en.pdf
Facebook : https://www.facebook.com/loteomission/
Twitter : https://twitter.com/loteomission
Reddit : https://www.reddit.com/user/LOTEO
Telegram : https://t.me/loteomission
Instagram : https://www.instagram.com/loteomission/
Github : https://github.com/loteomission
Linkedin : https://www.linkedin.com/company/loteo-net
Author: EmmaBen
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