LOTEO The Digital Era Lottery Explanation and Review

Loteu

Hi guys, welcome back to my blog. Today I would like to write a review of a new lottery platform called LOTEO. Ok, lets straight to the point. What exactly the different from Loteo to any other lottery platform across the internet? Read this carefully so you'll understand what I want to tell you. So, for example, you want to join this one lottery, but its only for US citizen and you are not so you cant participated in it, but with Loteo you can always join the lottery no matter from what city you are, Loteo accessible for all people around the world. And there second issue, with traditional lottery system you never know if the game was truly fair or not. But with Loteo the result will be 100% fair cause the lottery executed by code via blockchain contract and not a single person can control it.

There you go, I just told you two main reason why LOTEO better than any other lottery platform in the world. Not only they make the lottery easier than ever, but they also eliminated the trust issue. If you want you can verify the smart contract used for Loteo at Github or ethereum network, all of that totally public viewable.

Some gambling platform needs KYC/AML but not LOTEO just like what they say at their whitepaper here:

Users that want to enter the lottery have to be registered on the LOTEO platform due to the need to

operate the dashboard, view statistics and access the referral system. However, as LOTEO doesn’t

handle users with FIAT currencies, there is no duty to perform individual KYC for each user. For users

that enter the lottery thorough FIAT currencies, all KYC and AML requirements are the responsibility

of the third party merchant.

So you don't have to worry about all that paperwork and legal document cause you won't need any to buy a lottery ticket at Loteo. Just register directly here start making eth deposit and play.

They only have a weekly lottery going on right now, but daily lottery and other game will launch soon. For now, they have another game which is Moon of Fortune, you know something like Wheel of Fortune but a little different, if you want to check the game just click this gif below.

MOF

The game itself will look like this image below, as easy as putting the amount of token you want and click bet.

Oh, almost forget to explain this crucial part. The important part maybe, so this is how the lottery work, users enter the lottery by purchasing single tickets for the Loteo weekly lottery using the Ethereum cryptocurrency, or through a third party merchant. Each Ethereum wallet address that has purchased entry is then registered as a participant in the Loteo weekly lottery. At a later date, Loteo will add a daily lottery governed by the same rules. The weekly Loteo lottery will be executed through a smart contract that will utilize a certified random number generator (RNG). The pool for drawing will be created by another smart contract and it consists only of lottery tickets (based on the Ethereum addresses of the entrees) instead of drawing random numbers, therefore every drawing must have a winner After the winner of the lottery is selected, a smart contract will send the prize automatically to the appropriate Ethereum address(es). All code will be publicly visible on GitHub as well as on Etherscan. The prize will be split in the following way: 75% for the lottery winner, 20% for Lotes owners each drawn prize will be redistributed to the owners of Lotes, in proportionality to how many LOTES each user owns. 4% for affiliate and the 1% is given to a charity that is chosen by the Loteo community.

The price of one ticket is 10 euro, but there loteo Pass you get a year-long entry into the lottery, without the need for repeated entries the price is only 520 euro. is a pretty cheap option if you think about it. And the more ticket you buy the more LOTEU bonus you get.