1,000 BTC at Stake as The World’s First Bitcoin Lottery Kicks Off

post image

Bitcoin is known to be a gold mine of this century, hitting the record of $20,000 a pop this December and increasing by 1,700% in total since January 2017. And despite the fact that currently, it is facing the period of wavering, it remains in the light of fame and in the dreams of those who want to get rich fast.

Anyway, if you have not purchased this digital coin yet and have been gnashing your teeth since, now you have got a chance to make up leeway. You can win around one thousand of bitcoins worth of $12 million. Such a lottery is offered by one of the most known Irish lottery operators. In particular, you have to pick six numbers to receive 1,090 BTC. “What’s more, as well as the jackpot being ten times easier to win than the EuroMillions, there’s an incredible overall 1-in-7 chance of winning a prize,” stated the Lottoland.

Bitcoin Gambling

Being established in 2013, Lottoland is one of the most popular Ireland’s lottery operators. There was controversy over cases when the operator allowed players to bet on lotteries held in other jurisdictions, e.g., America’s Powerball and Europe’s Mega Millions, as Bitcoin.com reports. However, the company managed to acquire new market shares thanks to its tactics. Currently, the company with over 300 employees has the annual revenue of about $355 million.

But now, it seems that Lottoland decided to benefit from the frenzy over cryptocurrencies and bitcoin particularly. “Bitcoin is a worldwide phenomenon, and Lottoland is giving our customers the opportunity to get involved in the big league,” said Graham Ross, who is Lottoland’s Irish country manager.

The draws of the lottery are held every day from Monday to Saturday at half past eight in the evening Z time. What each punter has to do is to match all six numbers on their cards to win $18 million. It is possible to gain smaller amounts as well. Moreover, “there’s an incredible overall 1-in-7 chance of winning a prize,” as it is mentioned on the site.

“Don’t forget, there are plenty of additional prizes too – just match two or more numbers, and you’ll be one of our lucky winners,” also claimed the company.

Fiat or crypto money?

Once a player wins the lottery, he or she will have to make a pretty tough decision: to accept the prize in traditional, fiat money, or to receive it straight to his or her bitcoin wallet. It is not new when online casinos or sportsbooks have offered bitcoin as a deposit or withdrawal option. Also, one of the first apps for spending digital coins was gambling website Satoshidice.

Anyway, one should be courageous enough to accept the prize, if he or she faces a multi-million dollar bonanza, entirely in cryptocurrency. Nevertheless, the attraction of such an offer is quite questionable today as bitcoin started going down in price after December 17, when it entered the trading market via Chicago Mercantile Exchange & Chicago Board of Trade.

Quick Look At All Crypto News And Events For November 2020
Were you too engrossed in trading left and right that you’d completely spaced on getting your monthly update of the latest events in the crypto world? Well,...
Bitcoin Era Success Story: Teen Hits Jackpot With Crypto Trading
17-Year Old Hits The Jackpot With Cryptocurrency Trading Venture The news media has been swept up in a tornado with the latest news of a 17-year-old boy...
Keep Up With October Crypto Events Checking Out This Quick Roundup
Top Crypto Market News Of October You Should Catch Up With Do you think the world is turning more crypto-crazed day by day? There’s no limit to your investments...
A Collection Of Fresh Crypto News For Those Who Missed Out
The Major Roundup On The Latest Crypto News In The World The last month has been full of events and brought even more pressure on local business pretty...
What Everyone Should Know About Tokenization
Blockchain tokenization is a means of digital representation of a right and can be done with the help of a ledger. This can be a right to asset ownership...
What To Expect From A Cryptocurrency Market In 2020
Crypto market has always been a good target for speculation, shady schemes, and "bad guys". It's also very controversial, especially for financial markets...
Ethereum Foundation Confirms Upcoming ‘Istanbul’ Upgrade
On November 7th, Péter Szilágyi announced the date of the foundations impending upgrade, known as ‘Istanbul’. This upgrade will be the eighth hard fork...
Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming more...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of cryptocurrency....
Influence of Recent Cryptocurrency Boom: Does It Still Hurt?
Crypto Exchange Gate.io Agrees With Reports Showing 51% Attack On Ethereum Classic Bitcoin is a decentralized digital currency (also known as cryptocurrency)....
What is a Security Token?
Security tokens became very popular, but do you really know what is STO?STO is Security Token Offering, which is identical to an ICO. In this, there are...
Canada Reports Blockchain To Be Amongst Its Highest Paying Industries
A report recently published by the Canadian Digital Chamber of Commerce proves that the money involved in the blockchain industry of the nation is at the...
Cryptocurrency Exchange Security Levels
The growing interest in cryptocurrencies has led to the emergence of a wide selection of both digital money and the sites where you can exchange one cryptocurrency...
Belarusbank Considers Setting Up Crypto Exchange
Last year March Belarus introduced a decree by which it legalized cryptos and some activities related to them. This made Belarus a frontrunner in the race...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold than...