Have you ever dreamed of winning lottery?
I bet you did at least once in your life.
There are frequent news about lotteries on media: who won it, how much was the winning, tax for winning is so intensive, lawsuit going on about ownership of the winning lotto, etc...
Personally, I have had a problem for traditional lottery system because I lost my lottery ticket before I check the winning numbers. I understand chance of 'my ticket' was extremely low but sometimes it gets me annoyed by repeated 'what if it was the winning'. Despite these thoughts, I already tried to search for it and had to admit it is gone.
Like I mentioned before, news title similar to 'Why billions of dollars go unclaimed in lottery prizes' is frequently found on media
This may seem like basic advice, but in order to win the lottery you have to turn in the ticket.
You'd be surprised how often players don't do that.
It's likely whoever bought the winning Powerball ticket to Wednesday's $758.7 million jackpot in Chicopee, Massachusetts will be coming forward soon to claim their prize money.
But over the last 15 years, five winning ticket holders failed to claim their Powerball or Mega Millions jackpot prizes.
Those unclaimed prizes range from $31 million for a ticket purchased in Queens, New York in August of 2006, to $77 million for a winning ticket purchased in Georgia in June 2011. These prizes have since expired, so even if someone found the winning tickets today, they'd be out of luck. The five unclaimed prizes do not include the winner of the $393 million Mega Millions drawing in Aug. 11, 2017, who still has plenty of time to collect.
This question has basic answers to it, people lose or forgets their lottery ticket. Most of these lotto systems in various countries also has expire date(do not understand why, because it is not going to decompose)
Here is another article about tax payment of winning in US 'How Much Will You Pay in Taxes If You Win the Powerball Jackpot?'
The Powerball jackpot is at $1.5 billion and rising, easily ballooning to the biggest lottery prize of all time—which actually raises the value of a single ticket. But unless the winner is Puerto Rican (no federal income taxes or territorial tax on gambling winnings), he is also likely to have to pay taxes of equally historical significance.
There are many misconceptions that float around the taxation of lottery prizes. And the truth is the issue is complicated, not just because many consider the lottery to be a regressive tax, but because the amount one pays in taxes depends on a few different factors, most notably including where you live.
Most stories about lottery prize taxes highlight a federal income tax withholding of 25% for winners. But that’s not actually the highest bracket of federal income tax. Big jackpots are instead taxed at 39.6%.
The article states that the tax is up to 40% according to the amount of winnings.
Wow 40%!, Maybe the winner might be happy for 60%, but most of people would say this is to much.
How about lawsuit of ownership of the winning? It is so common that law firms provides information about different cases and how to deal with it.
These problems could be resolved by blockchain based lottery system
You do not have to worry about losing tickets or someone tries to steal your winning because it is all secure in the platform.
Players do not have to go through a lawsuit for the ownership of the winning because the winning is from your account.
The prize pool would be higher because you do not have to pay high taxes(as far as I know) from winning on blockchain lottery. Most of the money from ticket sale will be placed in prize pool unlike the traditional lottery system.
I believe lot of people consider this as promising field, therefore more than dozens of projects were launched to compete each other.
Today, I want to introduce another strong competitor on casino&gamblings. This team worked hard to prepare working platform while most of the others were asking for investment without it
Fire Lotto is a modern blockchain lottery as simple and understandable as traditional lotteries are. 20 facts about Fire Lotto: 1.100% decentralized lottery platform. Everything is built on ETH smart contracts. 2. Starting from 4 popular lottery games. 3.Minimum loosing combinations = real chances to win Jack Pot. 4.70% of tickets sales go to Jack Pot. 5.Winnings are paid out automatically after each draw. 6. Lottery ticket starting price – 2 USD. 7.Ability to add more popular lottery games. 8. Play Fire Lotto from any device without an app. 9. Play in one click. 10.Payments are d totally secured and made in one click. 11. Transparent referral program. Join us and get up to 15% cashback for each ticket sold. 12.10% commission payments to FLOT token holders provide an endless source of crypto income. 13. The prize pool can grow up millions and millions of dollars. 14.Random number generator is based on BTC blockchain. 15. Neither winning numbers nor lottery tickets can be faked. 16. No hidden charges, taxes and etc. 17.Fire Lotto platform cannot be shut down or effected anyway. 18. The Fire Lotto is totally anonymous. 19.GitHub open code. 20. The first internet community owned lottery.
Note that this is not rated by just one expert/adviser, there are 26 people those who participated in rating. Therefore it is possible to say the rating would be more reliable.
HOW THE BLOCK CHAIN FIRE LOTTO WORKS
FireLotto have built a completely transparent and fully decentralized platform for organizing
and conducting a lottery using the blockchain technology and ETH smart contracts for
collecting and distributing funds, drawing winning numbers in a random fashion, and
paying lottery tickets sales commission to token holders.
The prize pool of the Fire Lotto lottery is formed from 70% of the funds collected from
ticket sales. The minimum size of a guaranteed jackpot is fixed—1000 ETH (~ USD
1,000,000) for the 6/45 lottery.[*] If nobody wins the main prize in a drawing, it will be
rolled over to the next drawing and increased. The jackpot will keep growing until it
finds its winner.
There will be five prize categories with a different prize depending on how accurately
the player predicts lottery numbers. All categories starting from 2 will be calculated as
percentages of the prize pool. If several winners win the jackpot in one drawing, it will
be split between them.
Distribution of Fire Lotto Prize Pool
Distribution of token
ROAD MAP
TokenFLOT
PlatformEthereum
TypeERC-20
Price in ICO1 FLOT = 0.50 USD
WEB: https://firelotto.io/
WHITEPAPER: https://firelotto.io/whitepaper_en.pdf
TELEGRAM: https://t.me/firelotto
TWITTER: https://twitter.com/FireLottery
FACEBOOK: https://www.facebook.com/firelotto/
Profile BTT:
https://bitcointalk.org/index.php?action=profile;u=1676231
my wallet:
0x6079b64f3CC92f79464f736eA4b130C5D6A44777
