Fire Lotto Uses Blockchain Tech and Smart Contracts for a Transparent Lottery System
The Fire Lotto project aims to deliver a safe and transparent blockchain-based lottery where everyone can win.
Since 2004, annual turnover in the global lottery market has been growing by 4.3%, according to research by Union Gaming. In 2016, total revenues reached nearly $300 billion, with over 64% of global lottery sales attributable to the US and Europe. A survey carried out by the British Gambling Commission in 2016 confirmed this data and revealed that nearly half of respondents had engaged in gambling over the previous four weeks.
Internet and mobile technologies have fueled the explosive growth of the industry in recent years as gamblers from emerging markets get access to high-quality online lottery platforms.
Transparency and credibility are the key issues in the lottery industry and also the source of headaches for regulatory bodies. Numerous scams have eroded trust and made people wary of small market players. Gamblers want to be sure their lottery tickets are legit and that the guy who hits the jackpot is a real person. They want to know how many tickets are sold and how the money raised will be spent.
Fire Lotto gives the world blockchain crypto lottery
Blockchain technologies are taking the lottery industry to the next stage of its evolution, and the Fire Lotto project is at the center of this historic transition. It is a transparent, 100% decentralized platform for organizing and carrying out lotteries built on the Ethereum smart contracts concept.
Currently, the platform supports four popular games, but the team plans to increase the number in future. The hottest thing about Fire Lotto is that 70% of the funds received from ticket sales go to the prize pool, which starts at $1 million and can grow multiple times. The whole system works automatically on the blockchain with ETH smart contracts, making it impossible to cheat or scam players out of their money. Winnings of any size are paid out almost instantly.
What’s so unique about Fire Lotto?
It is ready: Unlike 80% of the projects behind ICOs, Fire Lotto has a fully operational product. Anyone who feels like trying their luck can do it on the web-based platform.
It is affordable and profitable: The ticket costs just $2 or 0.003 ETH, while a guaranteed prize pool, a transparent referral program and 10% commission payments to FLOT token holders create an endless source of crypto income.
It is user-friendly: Most blockchain lotteries are too complicated, but this is not the case with Fire Lotto. The team has developed an easy-to-use and secure platform where buying tickets requires nothing more than a click.
Fire Lotto ICO details
The Fire Lotto team has successfully completed the pre-sale stages. The main crowdfunding round starts on March 15, 2018 and will be live until April 15, with 77 million FLOT tokens available for sale out of 100 million in total. The standard cost is $0.70 for one FLOT, but those who join early will get a $0.20 discount.
If you find the Fire Lotto project exciting and need more details, visit the official website or subscribe to the updates on Telegram or Twitter.
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