While cryptocurrency, particularly Bitcoin, slowly inch their way into every nook and cranny of the financial world, it has the most profound effect in the gambling industry. The online gambling industry was one of the very first that took advantages of bitcoins development. The reason for this is because of Bitcoin’s ability to be both transparent and anonymous at the same time. Bitcoin lottery, in particular, is among those very first games to pop-up around the web. These bitcoin lotteries are popular for a reason, continue reading and check them out below.
What Is Bitcoin Lottery
Bitcoin lottery is the same lottery game that people have been enjoying except that instead of the traditional currency as a jackpot, they offer the cryptocurrency Bitcoin instead. Tickets can be purchased via traditional means like a credit card or via bankroll and also can be purchased with cryptocurrency as well, putting flexibility and convenience at the forefront of gamblers. Bitcoin by itself is a form of cryptocurrency, a digital currency that utilizes encryption to generate units and in its regulation, and operates outside the influence of a central bank. What this entails is that there is an unprecedented level of anonymity with transactions made via any cryptocurrency. With this one can be practically invisible. Bitcoin sites also offer withdrawals in other, more traditional forms of currency, which offers a lot of room in flexibility and adds another attractive magnet to gamblers.
While being virtually the same in every aspect, Bitcoin lottery games enjoy larger jackpot prices as a single bitcoin is worth thousands, even tens of thousands of dollars. A free online lottery boasting of 1000 Bitcoins in a jackpot price actually translates to millions of dollars and make the game super attractive to gamblers.
Because not everyone is largely familiar with bitcoins, the players are not that prolific yet. This translates to better gambling odds to players. The ticket prices between traditional lotto and a bitcoin lottery are almost the same, adding to its attractiveness. WIth better odds, the chances of you winning also increase tremendously. If you are a person who already plays a lot of the traditional kinds of lottery, give the bitcoin lottery a try and you will be surprised.