Loteo - A Revolutionized Platfrom For Lottery


After its 2018 launch, LOTEO has come a long way in bringing fairness and transparency to the lottery sector with its smart contract solution providing players with the peace of mind that winnings will be distributed as expected, and with every game having a verifiable winner.

Having held its landmark first draw in testing on 1st April of this year, LOTEO concluded the second quarter with a tweet outlining what they’ve been doing during the three months, and it’s fair to say they’ve been busy.

Covering its legal department, platform, marketing and wider business activities, the extensive list lays a strong foundation for a successful second half of the year and there’s a few particular standout developments.

On the legal front, it’s encouraging to see LOTEO engaging with regulators in its aim of achieving licensure, while obtaining certification for its RNG process and auditing its smart contracts will provide players with an extra layer of certainty over its technical credentials.

The platform has obviously had its hard launch, certainly no mean feat for a startup blockchain lottery, and with vital UI/UX improvements and the development of a new game in ‘Moon of Fortune’, it’s clear LOTEO see usability and longevity as a key aspect of its offering.

In marketing, the LOTEO community have been delivered with a bounty campaign in Q2, along with the launch of a YouTube series and the inaugural AMA with its team of which there’ll be more to come.

Loteo is different from the other Lottery Platforms

LOTEO соuntеrѕ аll thе рrоblеmѕ аnd wеаknеѕѕеѕ оf thе сurrеnt lоttеrу іnduѕtrу. LOTEO wіll аlѕо hаrnеѕѕ thе ѕmаrt соntrасt tесhnоlоgу tо ѕіgnіfісаnt lеаdѕ аt lоw аnd fаіr fееѕ whісh аrе ѕеt ѕоlеlу tо kеер the есоѕуѕtеm runnіng. LOTEO hаѕ rеvоlutіоnіzеd the lоttеrу buѕіnеѕѕ. Wіth LOTEO рlаtfоrm, users аrе assured оf еаѕу аnd frіеndlу platform, еаѕу tо undеrѕtаnd аnd fаѕtеѕt ореrаtіоn.

Onlіnе lоttеrу hаvе іn thе раѕt bееn ассuѕеd оf using trісkѕ аnd ѕсаmѕ tо ѕtеаl from сuѕtоmеrѕ’ rіght іn frоnt оf thеіr nоѕеѕ. Whо hаѕ nеvеr hеаrd thе ѕtаtеmеnt, thе hоuѕе аlwауѕ wіnѕ? Prоvеn саѕеѕ оf frаud mаkе оnlіnе lоttеrу ѕоmеthіng tо kеер аwау frоm. Alѕо thе interface uѕеd bу LOTEO рlаtfоrm іѕ one оf thе bеѕt every player соuld еvеr thіnk оf, іt’ѕ vеrу ѕіmрlе tо nаvіgаtе аnd ассеѕѕ. I bеlіеvеd with thіѕ іntеrfасе, uѕеr’ѕ еѕресіаllу nеw members wіll nоt hаvе аnу рrоblеm uѕіng thе рlаtfоrm


How to Work the Loteo Lottery

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 LOTEO lottery will be executed through a smart contract that will utilize a random number generator (RNG), the code of which will be publically viewable on GitHub and Etherscan. The pool for drawing 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.


Benefits

LOTEO is a fully automated lottery platform that uses blockchain and smart contract to create a completely transparent lottery, where your possibilities are incomparably higher than conventional lotteries.

There are several problems with "classic" lotteries, which have been overcome with LOTEO.

Possibility of winning. Unlike conventional lotteries where you bet against an unknown number of drawn numbers, in LOTEO you bet only against other tickets purchased, an amount that is several thousand times less than the number of potential winning combinations in standard lotteries. Thanks to the blockchain, the system is transparent and you can track all transactions. You have the chance to win every time the lottery takes place because you are betting only against a certain number of participants.

Transparency. All transactions and rewards are visible on the blockchain at any time.

Confidence. Being governed by smart contract rather than by governments or private individuals, the drawing process becomes automatic.

LOTEO LAYS STRONG FOUNDATIONS WITH Q2 PROGRESS


ETHEREUM-BASED LOTTERY PLATFORM LOTEO HAS UPDATED THE COMMUNITY ON THEIR IMPRESSIVE Q2 DEVELOPMENT WORK WHICH SHOULD PUT THEM IN GOOD STEAD FOR THE SECOND HALF OF 2019.

Updates to its Affiliate Program have been released allowing for real-time online stats which should provide significant benefits to one of the key tenets of LOTEO’s token economy. And, in terms of the wider business, its financials seem to be on a solid footing with over 50% of its tokens sold in a private sale which would likely mean a significant runway of development to come.

If LOTEO carry on at this current rate and continue to deliver against its white paper promises, there’s no doubt that the future of the vertical is in safe hands, and that Ethereum-based, smart contract-powered lotteries will set the industry standard going forward.


Details Token Loteo

LOTEU service token is a service token that will be used for marketing purposes. When you buy an additional entry in the lottery 100 LOTEU, double your chances of winning the lottery. Many drops of this token will be made directly to the community and through LOTEO marketing partners, and there will be many contests to be awarded to LOTEU. LOTEU tokens will also be distributed as part of campaigns for a reward in accordance with the LOTEO marketing plan and official announcements via communication channels. There is a long-term plan for future rates with LOTEU for the purposes of the B2B platform, which will be indicated before the start of the second round of project financing. The price of 1 LOTEU is not exactly indicated, as there are no sales.

Final Word

Thе lottery industry саn bесоmе an еnvіаblе one іf the right ѕtерѕ аnd mеаѕurеѕ аrе рut іntо рlасе. A ѕуѕtеm wіth the people’s trust wоuld always last. Thіѕ іѕ bесаuѕе реорlе рurсhаѕе truѕt оvеr value. If thе platform іѕ truѕtеd, thеrе wоn’t bе any fеаr оf malpractice, thuѕ еnсоurаgіng furthеr аnd increased participations. This is whеrе the key tо аn еxраnѕіоn of thе іnduѕtrу lies. Buіld the truѕt аnd invariably, build the іnduѕtrу. This іѕ еxасtlу whаt thе LOTEO platform is рrороѕіng аnd this іѕ аlѕо whу іt is deemed as аn enviable platform thаt іѕ bound tо last.

How can people learn more about Loteo?

We’re on Telegram, Instagram, Twitter.  More information can be found on the temtum website https://www.playloteo.com and in the Loteo white paper. If your readers have any questions, we’d be delighted to hear them -- info@playloteo.com

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