Lottery is one of the most prominent and popular piece of gaming in the gambling system. It didn't just begin today, as it has been in play for a very long time.....
And to show you the level at which it is accepted and played globally, a great number of the world countries have actually licensed and authorised the set up of lottery spots in their respective countries.
Truly, lottery has become one type of gaming innovations which have been embedded in the fabrics of a lot of countries. It is rapidly growing and overtaking other forms of gaming in the entire globe. To show the extent of its rapid growth, the emergence of technologies have been deployed to also facilitate and transform this practice to an online multi national and multi network lottery system.
This is due to the fact that the world is currently going digital, and every other systemic niche is looking to lay their hands on the digital technologies and evolve with the times.
The online lottery innovation has actually proven to be an even better practice than the old and traditional lottery system as, it seems to be better equipped for efficiency, effectiveness and better turn around time. Sadly, despite the numerous advantages and benefits of the online lottery system, it is still flawed in a number of ways. This has continued to cause major draw backs for not just the lottery system, but for the gambling, casino and gaming industry as a whole, because this new online lottery technology was supposed to be better than the traditional or old lottery system, but it turns out that it is still plagued with several imperfections.
Let's take a closer look at......
SOME OF THE PROBLEMS CONFRONTING THE LOTTERY INDUSTRY AND SYSTEM.
Just like every other gambling system, lottery is vulnerable and open to manipulation.
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 events outcome.
This particular issue is also a very nagging one in the lottery system as 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 and this breeds the next challenge...
The absence of transparency in the lottery system, brings about lack of trust between organizers and participants, and this in turns dissuades people from participating in the lottery system, thereby affecting the gambling industry as well.
Centralization of the system is another challenge in the lottery system, as the organizers control the whole system, which can lead to manipulation, due to the absence of transparency
These challenges and several ill factors, have crippled the lottery system, for far too long, but not anymore, because at long last, there is a solution.
LOTEO IS HERE TO RESTORE TRUST TO THE LOTTERY SYSTEM.
Loteo is an automated blockchain based platform which is here to revolutionize the lottery system and the gambling industry at large. It plans on using the blockchain and it's technologies such as smart contracts, to solve the numerous problems which have for long, plagued the lottery system.
When participants purchase lottery tickets, once the winner's lottery is selected, the price or reward is sent automatically by the Smart contract to their registered Ethereum address.
Loteo lottery platform increases greatly, the winning chance of participants, due to its automated design. It is also difficult and nearly impossible to be manipulated by anyone, thereby ensuring fair winning odds or chances.
Loteo will restore transparency to the lottery system by leveraging the openess and fluidity as well as flexibility of the blockchain, which will make all transactions viewable on the blockchain, for the user to access anytime they choose to.
This way, the trust which has been missing in the lottery system will be fully restored.
I know this leaves us with the question of "how?"
HOW WILL LOTEO ACHIEVE ALL THESE?
On the Loteo platform, users take part in the weekly lottery event by making use of their Ethereum crypto-currency as a means of payment to purchase the lottery tickets.
Once this is done, the user's Ethereum address is registered on the network.
To ensure efficiency and total transparency of the lottery on the Loteo platform, the lottery is carried out with the blockchain technology called Smart contract.
This great technology ensures that in every lottery, there is total elimination of unfair odds and practicesoften present in traditional and other online lottery systems or platforms.
Upon winning, the user's reward is not a problem as the Smart contract automatically sends their reward directly to their Ethereum address.
This of course, is an evidence that Loteo is fully equipped to revolutionize the online lottery industry.
LOTEO TOKEN
The Lotes token is a security token which is used to run operations in the system.
It gives the holders a governing power on the Loteo platform.
Loteu is also 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 Loteu Tokens.
CONCLUSION
Loteo has all it takes to boost the lottery sector and in turn elevate the gambling industry at large. It has come to redefine the true meaning of online lottery gaming, as it has proven to be far more superior to the regular online lottery systems available.
Loteo is just what is needed at this moment, to move the lottery system and gambling industry forward.
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
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2096551;sa=summary
