Revolutionizing Lottery
***MyLottoCoin DApp has been updated and migrated fully to BSC, no longer running on Ethereum blockchain. Refer to this article for up-to-date information***
Ever played the lottery? Seems like a ridiculous question for the majority of the world’s population, right?
And for those who haven’t, you all know about it and have probably wished to play at least once. Who wouldn’t dream of winning a huge prize and forget about financial problems?
We want to introduce a new way of playing the lottery. A game-changing way, to be precise. But to explain it, we will use the traditional lottery model to help you transition and enable everyone to become a part of the revolution smoothly.
Imagine walking into the lottery shop to participate in any official lottery game: for example, U.S Powerball if you live in America, Canada 649 if you live in Canada or EuroMillions if you live in Europe. The first thing you do is select the specific game ticket, choose your lucky numbers and pay for it, so you walk away with your piece of paper, the receipt that will turn you into the winner if you nail the number combination!
HERE lies the first major killer difference along with the similarities that will make us all feel like “home”.
MyLottoCoin follows some of the most famous traditional lottery game rules, and here is how:
- When you visit the website, the first step you need to take to play is to pick your numbers. Don’t worry! We have painted a very look alike ticket that simulates the same number picking you would do with your pen at the lottery shop. It’s just easier, from the comfort of your house — you can even do it in your pajamas! –.
By the way! In how many websites have you used a service that doesn’t involve an account creation or a login submission? Don’t answer. Here you don’t need any of that. Once you’re in, you can pick your numbers directly, it’s that easy! Avoiding collecting your data makes MyLottoCoin way safer and protects your identity and personal data from the beginning to the very end.
Once you picked your numbers, you just need to pay, right? Exactly, like any other lottery game in the world. Here is where MyLottoCoin kills some of the main painful points of traditional lotteries:
- What do you do at the shop? You take out some cash or even your credit card and you pay the price of the ticket(s). You get the receipt in exchange so if you end up being the winner, you can go and claim the prize.
Now it’s way simpler: MyLottoCoin lottery tickets are paid in ETH. So you pay by connecting your crypto-wallet and… You don’t need to collect any receipt! Because blockchain is that awesome! Each player’s chosen numbers will be reflected in the SmartContract that automatically handles the prize distribution at the same time that the winning numbers are published.
Let’s explain how: once the real lotteries that we have replicated in MyLottoCoin carry out their draw, the exact same winning numbers are instantly captured and compared to all the players’ chosen numbers. If you got lucky and made the right choices, the jackpot will go straight to your wallet, the same one you originally paid the tickets with.
Yes, exactly! This means no prize claim, no ticket dependency and no chance for rigged results! How incredible is this so far?
Oh, hold on! There is a major point missing here… The Jackpot!!! How much do you think the Jackpot limit is? Easy: limitless! From the total ticket sales, 85% of the collected money goes straight to the prize pool and if no one wins it, it stays there and builds up endlessly draw after draw… And yes, eigh-ty-five-per-cent! Hell yeah! Because the game should be for the players and without players there would be no game, so MyLottoCoin wants to empower everyone and give back the greatest prize of all times!
Now it’s time to introduce a new concept, our special “tickets”. If you decide to buy 10 tickets at once (most of us don’t get that lucky in one shot, right? So you get to choose a different number combination as many times as you want as independent lottery tickets) you will get something in return.
So… What is this something? In a lottery shop you would get a receipt that reflects the 10 tickets and you need to hold on to it so in case you win it you can prove your matching winning numbers to claim the prize.
In MyLottoCoin what you get is MYL tokens. MYL tokens are MyLottoCoin’s way to reward players in a whole new level. How does it work?
- Regardless of winning or not winning the prize, if you manage to accumulate up to 100 MYL tokens in your wallet, this will automatically make you a passive winner. Wait, what? A passive winner is everyone who holds, at least, 100 MYL tokens in their wallets and onwards. From the total ticket sales, 10% of the collected money in ETH (tickets sold) is automatically deducted. This 10% is distributed among all token holders every 3 months in proportion to the number of tokens each one owns. This means, apart from filling out the prize pool, a portion of the collected money goes back to the community, as it should be, for as long as they hold on to their tokens. So what do you get for holding on MYL tokens? Real ETH money in your wallet, not bad!
- Not only that. What can you do with that receipt you get when you buy your lottery tickets at the shop? Basically nothing, but you better keep it safe or you stand no chance to claim your remotely potential prize! With the MYL tokens you already have an asset! You have your gateway to assured success. But let’s say you get tired of holding them (which is very unlikely, why would someone give up receiving ETH passively, huh?) … You will be able to trade or exchange them like other tokens in the market. Can playing lottery get any better now?
Ok so you probably need to digest all this information right now. We know, it’s quite intense!
Believing something like this exists seems dreamy! But MyLottoCoin is real, it’s here to stay, it’s fully operational and it offers the best of two worlds: our familiar traditional lottery games and the unique features of blockchain technology. MyLottoCoin turns lottery into a fair game with a fully transparent, safe and reliable approach where decentralization, automation and autonomy are the key features.
P.S. In case you were wondering: MyLottoCoin can be accessed from anywhere in the world no matter where you are located. It is the aim of the project to make regional lotteries globally accessible. For example if you always wanted to play US Powerball lottery but you couldn’t because you were not in the US, well, good news! Now you can! And in the coming months, we will add 4 more lottery games from Canada, UK and Europe to make them available to everyone in the world > check our roadmap! ❤
