Belotto - The Best Lottery using Blockchain system.

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The Internet has made way for new types of gambling to form online. Improvements in technology have changed betting habits just as video lottery terminals, keno and scratchcards changed the gambling industry in the early 20th century. Gambling has become one of the most popular and lucrative businesses present on the Internet.

Due to the disparity in the regulation of the global gambling industry and the number of businesses in it that operate on the wrong side of the law, it is not easy to estimate its total market value, however, it is known to hold an important share in the entertainment industry by raising over 400 billion dollars per year, and this includes lotteries, casinos, poker, and others.

Despite this huge success, when these games are virtualized the outlook becomes way more complicated and the several inconsistencies that online gambling systems present discourage people from investing their money through Internet-based options. Although there is growth, the truth is that the online gambling sector needs adjustments and improvement in order to be taken more seriously and attract a wider amount of players.

PROBLEM
Inconsistencies, lack of reliability, overpriced services and the fact that users never know what happens behind their screens when they gamble online, are some of the problems that lottery users face when playing online (and it’s not so different when offline), there is a lot of uncertainty and doubts nearly always followed by disappointment and as a final result, a potential industry growing at a shorter pace than it should.

INTRODUCING BELOTTO

What is Belotto?

Belotto is a blockchain-powered lottery that allows users to be in control of the management of funds, jackpots and, even payouts, eliminating trust issues and tampering possibilities, resulting in a 100% honest game that makes new millionaires around the whole world leading a new era inside the lottery industry. Belotto is based in Belize.

The crypto lottery scene is still very limited, but the few other cryptocurrency lotteries available lack reliable technology infrastructures and have been poorly designed, producing discomfort and mistrust among users. Belotto’s approach is to provide the highest- quality lottery platform that the world has seen not only in the crypto sphere but throughout the history of digital lotteries. Offering a genuinely user-friendly interface that requires zero knowledge of advanced subjects like Blockchain, or even cryptocurrencies, so it’s just like playing the usual game, but online, with the additional confidence that every process is entirely transparent, as any user can verify it so, at any time.

The Belotto system is capable of ensuring users that their money will go straight to a common pool, that will only be taken by winners through an autonomous and inalterable framework powered by Smart Contracts. And the “who wins”? enigma will be dictated by blockchain itself, as an unprecedented decentralized drawing methodology. We won’t even generate the numbers, and you can check it all for yourself. No manipulation here, or there. It’s virtually flawless.
We deliver innovation, transparency, trust and security to the most popular gambling game of all times by eliminating the risk of misallocated money, drawing or jackpot manipulation through a decentralized lottery scheme powered by blockchain, and what's even better, what you are announced is what you get, not a cent less. With Belotto, the house never wins. Users do.

Three major lotteries will jump-start this project:

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OUR MISSION
Our mission is to build and develop the best Blockchain-based lottery system, self-sustainable and ensurely supported by digital technologies, a drawing methodology impossible to be hacked and an overall service that works perfectly without the need of regulating third-parties

Belotto is on a mission to:

Develop the first robust and global decentralized cryptocurrency-based lottery system
Combine the advantages of traditional lotteries with digital ones to create a superior product
Demonstrate the benefits of the Blockchain technology in the gambling industry
Spread the effectiveness of Ethereum's infrastructure in the real world
Prove that corruption-free lottery businesses are indeed viable
Make many new cryptocurrency millionaires.

How is corruption eliminated from a decentralized lottery system?

Each time someone buys a ticket, a Smart Contract is autonomously executed to take care of the distribution of funds and update a public marker according to new contributions, allowing users to track the Jackpot’s activity in real time. Since the code is pre-set and unmodifiable, no one can change the percentages, and the collected funds aren't available for withdrawals or use different to the payment of prizes.

In regards to drawings, contrary to existng traditional processes, Belotto will not generate number combinatons through vulnerable mechanisms like urn ball drawings or software.

Belotto will extract the numbers from the Bitcoin Blockchain HASH CODES (that are not modifiable by anyone, publicly accessible to everyone and automatically stored) so that no entity or person can manipulate the results. As soon as there is a winner, a Smart Contract is self-executed to send notifications to each of the parties involved: Belotto, the Escrow company, and the winner, to proceed with the delivery of the prize (in full), for absolutely real and random drawings.

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What Makes Belotto the Best Lottery:

*. No location-based restrictions
*. Receive jackpots in full - 0% deductions
*. No more fake data - accumulated prizes and winners
*. Know the numbers in real-time
*. 100% transparent drawings
*. Validate the winning numbers yourself

FEATURES
The lottery business has been experiencing remarkable growth in recent years reaching a net
revenue of 22.57 billion dollars per year in the United States alone and has witnessed a 4.94
billion dollar raise in its annual interest. Such growth is mainly fueled by the increasing
double-income in households which boosts its overall yield and enable the acquisition of
exclusive products and leisure activities and in general, the spending capacity of people in
developed countries.

It is also important to note how personal mobile devices are contributing to the rapid “virtualization” of the world:
The growing adoption of smartphones and tablets and high penetration of internet will play a significant role in the growth of the market, especially in the mobile lottery segment

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The capitalization of the main cryptocurrency markets and the public reception they have
achieved superseding all speculation and defying every statistic demonstrate their high
power.

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BUSINESS MODEL

Traditional systems usually allocate only 50% or less ticket sale income for prizes. Here is an
actual example of a distribution scheme from the United Kingdom’s Lottery Association for
the April-2016 to May-2017 period:

In contrast, Belotto is going to distribute its income in the following way:
Smart Contracts will automatically allocate 70% of each ticket into the jackpot, while Belotto
will use the remainder for business expenses. Such expenses refer to platform maintenance
and support services, technological infrastructure, cloud computing services, marketing,
advertising, employees, and revenue, among other costs that may derive from rendering
excellent quality service.

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TOKEN
The project aims to collect the necessary funds to develop the Belotto’s infrastructure
through an early Credit sale that awards BEL Tokens to all its contributors. Such credits will
allow them to acquire the services of what is expected to be the biggest and most potent
cryptocurrency lottery in the world and the Tokens will sustain it from its foundation

BEL Token
BEL tokens are a fundamental component of the Belotto ecosystem, integrally designed to be
used by users within the platform giving a pivotal value to its economy. Acquiring BEL in early
stages entitle holders to benefits. People may obtain these Tokens through Pre-Sale, Sale and
Second Sale stages by the acquisition of credits.

ICO RATING PRE SALE APRIL 2018
https://www.trackico.io/ico/belotto/
https://www.coinhills.com/ico/view/belotto/
https://foxico.io/project/belotto
https://foundico.com/ico/belotto.html

TOKEN SALE