Blockchain is a future of a lottery

Learn how Fire Lotto will become fair international lottery with big prize pool and fast payment for winnings
11 January 2018   1201

Global Lottery Industry

The global lottery industry grew from $187.1 billion in 2004 to $294.3 billion in 2016, representing a compound annual growth rate (CAGR) of 4.3% per year. In 12 years from 2004 to 2016, lottery sales have declined only once, evidencing the stability of the business. More than 64% of global lottery sales come from Europe and North America.

Concurrently, with growing penetration of the Internet and mobile phone adoption, online and mobile lotteries are growing everywhere. The total revenue of mobile lotteries in 2016 is estimated to be 43 billion, while 44% of the amount is generated in Europe and North America. The pace of technology adoption can be even faster in the developing markets. Fire Lotto can operate as a global blockchain protocol, but can also be offered to governments of specific countries as a solution to challenges to ensuring a fair lottery.

Fire Lotto is a modern blockchain lottery as simple and understandable as traditional lotteries are.

File Lotto advantages:

  • A record 70% of funds collected from ticket sales will be allocated to the prize pool.
  • The initial guaranteed prize pool is over USD 1 million.
  • The amount of the prize pool can grow up to dozens of millions of dollars.
  • If nobody wins the main prize in a drawing, it will be increased and rolled over to the next drawing. The jackpot will keep growing until it finds its winner.
  • Distribution and payout procedures are transparent and supported by smart contracts.
  • Winnings of any size are paid out almost instantly.

The primary objective of Fire Lotto is make fair international lottery with big prize pool and fast payment for winnings.

20 Facts about Fire Lotto:

  1. 100% decentralized lottery platform. Everything is built on ETH smart contracts.
  2. Starting from 4 popular lottery games.
  3. Minimum loosing combinations = real chances to win Jack Pot.
  4. 70% of tickets sales go to Jack Pot.
  5. Winnings are paid out automatically after each draw.
  6. Lottery ticket starting price – 2 USD.
  7. Ability to add more popular lottery games.
  8. Play Fire Lotto from any device without an app.
  9. Play in one click.
  10. Payments are totally secured and made in one click.
  11. Transparent referral program. Join and get up to 15% cashback for each ticket sold.
  12. 10% commission payments to FLOT token holders provide an endless source of crypto income.
  13. The prize pool can grow up millions and millions of dollars.
  14. Random number generator is based on BTC blockchain.
  15. Neither winning numbers nor lottery tickets can be faked.
  16. No hidden charges, taxes and etc.
  17. Fire Lotto platform cannot be shut down or effected anyway.  
  18. The Fire Lotto is totally anonymous.
  19. GitHub open code.
  20. The first internet community owned lottery.

How does Fire Lotto work?

You can choose instant or draw lottery.

Instant lottery Roger’s wheel has a fortune wheel with 21 numbers. It offers bets from 0,007 ETH with coefficient from 2 to 20. If you guess the right number, then you’ll receive your bet multiplied by chosen coefficient.

There are 3 types of draw lottery:

  • 4 of 20 
  • 5 of 36 
  • 6 of 45.

You pick one, buy a ticket and mark numbers. Lotteries are held every 6 hours. Your winnings are based on amount of numbers that you’ve guessed.

Why Fire Lotto is the most honest lottery?

  • Winning number are chosen by RNG based on blockchain technology of Bitcoin, so they are impossible to fake.
  • All lottery parameters are in open source. They are accessible and fully transparent 24/7.
  • Complete anonymity and safety. No taxes!
  • Decentralized platform provides full autonomy and independence.
  • Record payments to prize pool – 70% from all raised funds.

Fire Lotto ICO Terms

There will be several stages of ICO:

  1. Privat presale 15th of December 2017 till 15th of January 2018
  2. Pre ICO 15th of January 2018 till 15th of February 2018
  3. ICO 15th of March 2018 till 15th of April 2018

100 million tokens released and 77 million FLOT tokens will be sold during the ICO.

Learn more about Fire Lotto

Tezos Co-Founder penaltied by Wall Street Regulator

Tezos co-founder Arthur Breitman is punished with a fine and a trading veto for two years by The Financial Industry Regulatory Authority (FINRA)
20 April 2018   93

The Wall Street regulatory institution has come to a adjudgement with Breitman after he was indicted of producing false statements about his side venture (Tezos) while he was actually employed at Morgan Stanley. All registered FINRA securities specialists are demanded to report any for-profit activity outside of their stated employment if there is “reasonable expectation of compensation.”

The regulatory activity started from a Reuters article published in October that discovered Breitman, who is filed with FINRA as a French citizen, never disclosed hise work for Tezos while still employed at Morgan Stanley within the years of 2014-2015.

Together with the other proofs published in Reuters` article is a business plan written in 2015 that lists Brietmen as chief executive and makes projections on the potential for the company to be worth as much as 20 billion dollars over 15 years.  They also cited two papers Breitman penned under the pseudonym L.M. Goodman about Tezos, showing that he purposely hid his connection with the firm.

FINRA enclosed that “Breitman did not notify Morgan Stanley at any time that he was engaging in these outside business activities.” The adjudgement conditions of April 18 are that Breitman shun any broker-deals for 2 years and pay a $20,000 fine. Breitman neither accept nor disclaim the indictments.

The settlement with FINRA is unrelated to and has no impact on the launch of the Tezos network. Arthur cooperated fully with FINRA at all times and Arthur is pleased to put this personal matter behind him.
Sarah Lightdale, lawyer of Arthur Breitman

Last July the Tezos foundation increased for $232 million from their initial coin offering to found the blockchain network for smart contracts but still haven’t delivered any of the cryptocurrency to supporters because of infighting and legal problems in and outside of the boardroom.