As the craze and euphoria over bitcoin slowly but surely subside, more and more technology enthusiasts, developers and investors are coming to terms with the power and capabilities of its underlying technology Blockchain. As a result, there has been a steady drizzle of new and upcoming ICO’s in the Blockchain universe with multiple real-world usages. While the ICO market keeps growing, it is pegged to influence an industry which for eternity has managed to keep itself untouched by the ever-evolving technology.
The Lottery Industry despite the internet and digital age has managed to more or less retain its original form. This has its side effects too. And blockchain presents to the Lottery Industry a golden opportunity to shade its old clothes in return for new ones with the promise of long-desired characteristics like transparency, fairness and global exposure.
But are ICO’s & Lottery a safe bet?. Well, this blog tries to answer exactly that.
Lottery Industry: The Good and The Bad
The Good: While this might raise eyebrows but besides making a bunch of individuals filthy rich each year, there are a there are a lot of positives to the industry too. These include the public contribution to welfare schemes, Relief Funds, State Education budget, etc. And not just in modern times, in the classic old days too, lottery sales revenue has funded some major public welfare projects.
According to the wikipedia, By the end of 2017, ICOs had raised almost 40 times as much capital as they had raised in 2016. It means market is growing.
The Bad: For long the lottery industry has been at the receiving end of things over its draw policies and prize distribution. This has exposed the industry to a new set of problems. These include:
- Lack of New Products.
- No-Popularity among Millennials.
- Retaining the loyal customer base.
- New Avenues for Retailing and Improving Player’s Game Experience.
Are Blockchain and ICO’s for Lottery Industry?
Blockchain makes transactions of any kind and values transparent, secure and decentralized.
Blockchain can be a boon for the lottery industry as it can:
- Open Up new Retailing Models.
- Generate Buzz among netizens and millenials.
- Conjure attractive Jackpots and Gameplay options.
- Scale up Lottery Industry beyond national boundaries.
- Set Up a robust and fair prize distribution channel in real time.
ICO’s are important in a blockchain based lottery for primarily three reasons:
- Manage upfront operational cost and funds required for setting up a blockchain network.
- Put into place a global protocol for blockchain lottery game participation using standard crypto tokens.
- Last but not least, ICO participants not only benefit by using tokens to buy lottery tickets but enjoy a wide range of added benefits like:
- Token Swapping.
- FIAT Exchange.
- ERC20 Environment Services.
- Incremental Value of Tokens.
- Dividends from Lottery Ticket Sales.
There are many ICO launches every year but this ICO has done an amazing job, wins the trust of many investors and becomes the most popular and the most profitable ICO of this year. The one & only Airtoto is such blockchain based lottery platforms that offers its players all the benefits and more.
You might be wondering how?
Check all the benefits by visiting the website and reading the whitepaper. You’ll definitely satisfied after knowing them all.
Blockchain ensures decentralization and anonymity whereas ICO tokens and smart contracts ensure fair play on part of the organizers or hosts. All funds would be visible on the distributed append only shared ledger part of the blockchain network. Hence we see that ICO and Lottery complement each other and bring the much desired X-factor to the Lottery Industry long paralyzed by Esports and betting games.
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