WHY ADDRESSING THE UNDERLYING PROBLEMS IN THE CURRENT LOTTERY MARKET IS AN URGENT CONCERN
April 30, 2018 5:58 am,
How Belotto Intends To Become the Leading Crypto Lottery in the Market The current lottery market is worth billions of dollars (projections place it at $81.7 billion by 2022) based on the vast numbers of investors willing to invest in this highrisk and high-reward investment opportunity. Lotteries currently command 29% of the gambling market cap courtesy of its affordable $3 ticket cost aimed at enticing and retaining gamers worldwide. As profitable as they might seem, several problems associated with excessive deductions, instances of internal tampering, high commission rates, and geographical barriers have persistently held back this industry from achieving its highest potential.
Blockchain technology refers to an advanced digitized and decentralized public record of all cryptocurrency transactions. Through it, several advantages have significantly disrupted how industries operate. Security fears are adequately addressed by Blockchain technology since it incorporates a highly advanced peerto-peer verification system to authenticate cryptocurrency transactions. Before traders can transact, the Blockchain technology conducts verification to ensure that specified cryptocurrencies have not been negotiated beforehand. The best part is that the entire transaction is performed on a public platform to avoid cases of fraud.
Blockchain technology’s decentralized nature makes it free from government intervention and renders third parties irrelevant to the entire transactions. By solely relying on the market forces of demand and supply, Blockchain has traversed pitfalls such as the mismanagement of fiat currency and inflation. State-of-the-art security features safeguards anonymity at all costs from the public domain. Belotto.io offers impressive benefits aimed at taking the crypto lottery to the next level. The development of Smart Tickets accurately addresses reliability and internal
tampering concerns. Through Smart Tickets, traders receive instant notifications regarding current transactions while an escrow comes into play to facilitate the release and transfer of funds into the winner’s wallet. To adequately address the inconsistencies’ concerns, the Smart Tickets uniquely operate within the decentralized system to protect the winner’s identity and track real-time transactions.
Belotto.io firmly believes in delivering unrivaled betting and gaming services to customers. Traditional lottery systems usually allocate 50% or less ticket sale income as prize-winning. According to the United Kingdom’s Lottery Association, only 24.7% of ticket sales were allocated as prize-winning while a significant 75.3% ended up in the management’s coffers.
Belotto however, aims at redefining this structure by allocating 70% of ticket sales towards winnings while the 30% balance will be used to cover business expenses. Customers are free to check the whole process as a testament to executing transactions on an honest policy.
Belotto.io not only strives in providing reliable services but also in staying true to our core team values, entailing the extraction of figures from the Bitcoin Blockchain hash codes which are insusceptible to modification by anyone. With the aid of Blockchain technology, Belotto.io aims at breaking the ceiling by restoring faith, transparency, and accountability to the crypto lottery market. For more information about Belotto, don’t hesitate to visit www.belotto.io for unrivaled guidance.