The online lottery industry has boomed with an increase in the reach of the internet. More people are now online, engaging in their favorite activities. Many industries have leveraged this opportunity to increase their customer base. One of the industries that are not far behind is the lottery industry.
Platforms that deal with online lottery systems are attempting to get more players on board, encouraging them to engage with the platform. While most of them are legitimate with an honest approach of allowing users to play their favorite games, scammers also exist looking to steal money and data from the users.
Thanks to blockchain technology, the risks of users getting scammed have been almost mitigated. Crypto lottery sites are decentralized and blockchain-based. These elements offer a safe and secure environment to their players. Click on the linked article to get more information about crypto lottery sites.
Lucky Block is one such platform where players can fearlessly enjoy being in the ecosystem. When compared to the industry standards, then it would be right to state that Lucky Block is way ahead of its competitors.
The platform has lined up the launch of its mobile application. The launch is tentatively scheduled for March 21, four days ahead of the first-ever draw, which is scheduled for March 25. The link to download Lucky Block’s mobile application will alternatively be available on its official website.
The mobile application will have the feature to allow its users to buy lottery tickets. The price for a lottery ticket has been fixed at $5, payable by LBLOCK, the native cryptocurrency of Lucky Block.
Anyone interested in being a part of Lucky Block’s growing ecosystem can purchase the LBLOCK token from PancakeSwap.
Holders of LBLOCK have a surprise that awaits them. They will be eligible to earn a passive income simply by holding LBLOCK. This is a revolutionary payout system that has set a new benchmark in the online lottery industry.
A player who wins the lottery will be able to withdraw 70% of his or her winnings. The remaining 30% will be distributed to other holders, charities, and Lucky Block in the ratio of 10% each. Lucky Block will utilize its holdings for marketing and developing the project.
The total amount of the lottery will not only be made up by the sale of lottery tickets. It will also include a certain portion from a special fund called Lottery Fund. The special fund will be made up of a transaction fee which will comprise a total of 12%.
Out of the 12%, 4% will be directed to cash reserves, games, and the development of non-fungible tokens each.
Players of the Lucky Block ecosystem also benefit as the risk of losing their tickets due to destruction is lowered. Additionally, it is impossible for hostile players to manipulate the result as the information about draw and transaction will be available to everyone.
It must be noted that LBLOCK will be a deflationary token as 1% of it will be destroyed with every transaction, resulting in the shrinkage of the total number of units.