Talking About Crypto Lotteries: How they Work?
Lotteries have, for long, carried the charm of a genie’s lamp for individuals wanting to try out their luck and win windfall gains. The prospect of becoming a prince from a pauper within a day makes lotteries an incredible option. They are for people who want to earn quick returns in a short time rather than mindfully investing and waiting for returns without investing much capital.
Whether local or international, a lottery system carries the same hassle-free routine of buying a lottery ticket and waiting for the d-day. The result announcement consists of a random selection of numbers. A user having the lottery ticket with the numbers most similar to the winning number sequence wins the lottery.
Crypto Lotteries work similarly to traditional lotteries and depend on the same dual principle of fate and time. But crypto lotteries offer much more than a traditional lottery ticket. Bot Planet, an ecosystem combining Defi, GameFi, and P2E gaming solutions, is coming up with many new gaming opportunities for users, including a lottery. Before discussing what Bot Planet has to offer via its exciting offerings, let’s discuss how a crypto lottery operates.
How Does a Crypto Lottery Work?
The chances of winning any crypto lottery depend on the number mentioned in your lottery ticket, just like the traditional lottery. The more numbers from your ticket match with the winning number, the greater are the chances of winning. Many websites today offer crypto lotteries. If you are interested in trying your luck in crypto for the first time without incurring much investment, crypto lotteries offer you a win-win situation.
You don’t require any technical knowledge or crypto background to try your luck in crypto lotteries. Also, these lotteries may be considered more profitable than putting your money in a single asset and waiting for returns. You are not required to pay any transaction fees, and the entire winnings go to your wallet. Below are a few steps that you follow to avail of a crypto lottery you are considering buying:
- First, find a reliable and secure crypto lottery site with numerous game options such as Bot Planet. Ensure that the website has got maximum feedback and credibility from the users.
- Next, you need to set up your account on that crypto lottery site using your email address.
- Once your account is set up, deposit some funds, usually cryptocurrencies such as BTC, ETH, XRP, or the native token of the platform, to purchase your lottery ticket. The choice of cryptocurrency depends on the website’s policy regarding the cryptos they accept as payment.
- Buy the lottery ticket of your choice and wait for the result day to see whether luck turns in your favor.
GameFi and the metaverse concepts are being developed and evolved by several projects in 2022. Projects that offer clear and simple mechanics to users to manage and multiply their finances are gaining popularity among investors and gamers alike. Bot Planet seeks to build a GameFi-powered ecosystem consisting of several utilities, including a P2E gaming sphere, crypto lottery, NFT marketplace, DEX, etc. The platform has built multiple revenue streams for users to earn yield and returns via a plethora of fun and exciting activities.
Users can purchase lottery tickets and get a chance to win BOT coins. The BOT lottery system is completely fair and gives equal opportunity to every user to become a winner. The development team has been rigorously working to offer a fun lottery experience to the users.
The Bot Lottery service is an additional service that Bot Planet plans to offer to the members of its ecosystem. It serves the dual purpose of keeping the users engaged via reward winnings and adding an additional deflationary mechanism to the BOT coin.
The Bot lottery system requires the user to purchase a digital lottery ticket. The smart contract then generates a random four-digit code. Each number in the code has a value from 1 to 14. Once the code is generated, it is sent to the users for matching. The user is considered a winner when the order of the numbers in the code coincides with that in the lottery ticket. The users whose 2,3, or 4 numbers match also receive a guaranteed reward.
About Bot Planet
Bot Planet is a unique GameFi-based ecosystem that offers users the synergized benefits of a multifunctional wallet and a DEX combined with P2E games, NFT marketplace, Lottery, messenger, and much more. The added functionalities of a DEX will allow players to exchange their earnings for Bot coins and move further in the game. Players can also stake and farm their tokens to earn more rewards.
Bot Planet will soon release its blockchain lottery service to earn additional daily rewards. Bot Planet will organize IDOs on three launchpads in the first half of 2022 to materialize its vision and objectives of becoming the ultimate GameFi ecosystem.