A lottery is a type of gambling that is solely based on a player’s luck. It is a highly popular “gaming” event played by millions of people around the world. However, unfortunately, the traditional lottery industry faces several challenges such as:
- Most of the lottery games are rigged to prevent players from winning.
- Limited global access as most of the lotteries are only played domestically, which also reduces the winning pool.
- The prize allocation process in the lottery industry is opaque and does not give the players clarity.
Some of the lottery registrations are licensed, making them respectable, but most of them are not. Also, even if they are licensed, the possibility of fraud still exists.
While these shortcomings are blatantly evident, players are forced to constrict to these standards because of the lack of any alternative. However, blockchain technology has the capability of optimizing the lottery industry, and Magic Lotto is an excellent example of that.
Blockchain technology is an online distributed ledger that records all the information about any industry, product, or good. This information is vital to track all transactions, draws, and winnings in the case of the lottery industry to give the players a transparent process.
With the introduction of blockchain technology, the lottery industry has seen a sudden influx of traffic as it is more trusted and fair than the traditional industry. Also, blockchain technology is inherently secure, making online transactions protected and anonymous.
How does Magic Lotto utilize Blockchain Technology?
Magic Lotto is the world’s first online lottery based on Blockchain 5.0 to offer unlimited scaling. Magic Lotto offers a variety of games such as Magic Lotto 6/49, 7 Plus Lotto, Jokerball, Free Jokerball. Among these games, Magic Lotto 6/49 is the most popular one with the most rewarding game pools.
The chance of winning in the game can range from 1 out of 1,000,000 to 1 out of 8, depending upon the number of matched numbers. Also, Magic Lotto gives the users a chance to significantly increase their winnings by inviting friends using their affiliate program.
Apart from the security and transparency of blockchain technology, Magic Lotto offers several advantages. All the games can be played anonymously as the winnings and purchases of the users are publicly visible but not the player’s name. Players can purchase tickets using cryptocurrencies QDT, and the winnings are automatically transferred to the winner.
Moreover, the winnings can be withdrawn instantly using smart contracts without any hidden fees. Players can create their own network and receive rewards for the players that join their network to create a source of passive income.
Magic Lotto has amassed a lot of popularity and has happy customers all around the world. The platform brings the thrill of lottery to the blockchain and offers more security, better transparency and exciting rewards.