Guide to Live Bitcoin Lotteries
Are bitcoins better than gold? They are actually. Not long ago the price of one bitcoin was higher than the price of an ounce of gold. So, in financial terms, bitcoin is as good as gold, and even better. And despite the fact that this cryptocurrency has been used for all sorts of things, from buying regular items to playing Live Bitcoin Casino Games, it is still commercially not much recognized.
Maybe it’s because this entire decentralized currency concept is confusing to regular people. They can’t seem to perceive bitcoins as an asset, but something that is out there used by people for shady activities.
What about Lotteries?
Winning or earning small amounts of bitcoins online is possible in many ways. But, one of the latest trends is playing live lotteries, and as you know, a lottery winning usually spells big money. Live bitcoin lotteries offer hundreds or even thousands of bitcoins as jackpots.
This may sound little, but remember, the price for one bitcoin is similar to the price of one ounce of gold. Ka-ching! The tickets usually go as cheap as 0.0001 BTC.
With minimal effort, these jackpots can be yours. And because of these incredible amounts, which you can find at some live bitcoin lottery sites, not all of them, bitcoin lotteries could easily become the next big thing. All people need is to get educated about the powers of the bitcoin and how they work.
Remember, bitcoin transactions are not taxed and cannot be traced by the authorities. This means what you win is what you get, no government involved, no third-party processors, nothing. The money goes straight to your bitcoin wallet in matter of moments!
All you need to do is look for provably fair bitcoin lotteries. This is equal to being audited by a licensing authority, only that here the players themselves are the ones that verify the legitimacy of the outcomes and the operator. It’s an amazing concept!
What to Expect at Live Bitcoin Lotteries
Bitcoin lotteries use almost the same types of games such as pick 5, 6 or 7 balls out of 49. Depending on the website you can bet on lines too. Different operators may offer different and unique games. It’s all up to the creativity of the people behind it the games.
Live bitcoin lottery games run almost every 5 minutes. This means you can play up to a dozen games in just one hour. That is a lot of opportunities to win big. On the other hand, some lotteries run once per week. So, expect to see a lot of variety.
The winnings are usually paid out through a prize pool. Sometimes the winner takes the entire prize pool or a big percentage of it, sometimes the pool is divided into 3 winners etc. It all depends on the operator. In any case, the operator will keep a small percentage for operation and maintenance, which is only fair. This usually goes around 1.5%.