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   2910

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

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Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   155

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.
 

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.