Tombola is a blockchain-based gaming platform that is safe to use and distributes winnings promptly. The project has incorporated the safety and transparency of blockchain in creating a dependable gaming system that every user can trust due to its openness and cheat-free distributed ledger technology.
It has taken cognizance of the fact that the traditional lottery and gaming industry is evolving as new technologies are adopted. This will replace the way these games are played and the checks and security that hitherto was based on obsolete systems.
Taking advantage of the features of digital currencies as instruments of cross-border payments in building a gaming system that has a global audience and users makes Tombola one of the gaming platforms that could revolutionize the lottery sector especially when their fund distribution is considered.
The traditional Tombola lottery system comprises a Jackpot in which winning occurs when six numbers on a ticket match the numbers drawn by the lottery out of a possible 45.
Tombola Introduction Video
Lotteries have been known to be manipulated.
There have been instances in which organizers have been known to collude with programmers or the technicians involved in determining the outcome of gambling results. This is possible because most times, the gamers have no access to the process that determines the outcome of the game.
The current situation of the lottery industry is that its activities are mostly shrouded in secrecy and non-disclosures. For instance, it has been noticed that 50 percent of winnings are not disbursed. The Lottery services rather spend most of their earnings on unnecessary running costs due to the non transparency of the system.
The current gambling industry is controlled and regulated by the local or state government, which has not prevented sharp practices and manipulations. The uncertainties created have been a hindrance to the growth of the gaming industry.
The earnings of the companies are hardly disclosed to the users who play the lotteries.
The Tombola Solution
Tombola uses time-stamping features of the blockchain network to ensure that lotteries and winnings are not manipulated. The project does this through the extraction of a random number at a fixed time and storing it on the blockchain. By saving the number and user wallet on the transparent ledger anyone will be able to verify the transparency of the system.
Tombola operates a transparent and fair distribution system by paying winnings if and when they occur. However when no winnings occur, all funds are recycled to the next pool of the next round of games.
By implementing smart contracts on its platform, Tombola has ensured a “trustless” system in which all activities such as purchase of tickets, the numbers selected by players, the number of winners and the winning numbers are impossible to alter. All winnings are promptly paid to winners in a transparently verifiable manner.
60 percent of all funds raised by Tombola are paid out as prize money, the company uses 20 percent as operating expenses, 10 percent will be disbursed as dividends, 5 percent goes into fees and 5 percent to charities.
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- Visit website for investment details: https://www.tombola.io/
Additional Investor Resources
Website: https://www.tombola.io/
Whitepaper: https://www.tombola.io/tombola_whitepaper_english.pdf
BitcoinTalk [ann]: https://bitcointalk.org/index.php?topic=4691540.0
Social Media Links
Telegram: https://t.me/TBL_tombola
Medium: https://medium.com/@tombola
Facebook: https://www.facebook.com/TOMBOLAofficial
Twitter: https://twitter.com/TOMBOLA_COIN
LinkedIn: https://www.linkedin.com/company/tombolaico/
Article written by @justiceforall
BitcoinTalk user: Mr.Ease
User link: https://bitcointalk.org/index.php?action=profile;u=803528
Ethereum Address: 0xfd797888c66DfEbf7bA5A6927a50F2F75Ad7175e