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Author Topic: [ANN] LOTEO - Digital Era Lottery | Lottery needs a revolution!  (Read 2252 times)
LOTEO
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March 02, 2019, 05:11:28 PM
Last edit: August 03, 2019, 06:09:17 PM by LOTEO
 #1



         

What is Loteo?
A Digital Automated Lottery Platform that used blockchain and smart contracts to create a fully transparent lottery,
where your chances are incomparably higher compared to conventional lottery.

Trust
By being governed by a smart contract, rather than governments or private individual,
the drawing process becomes automated.

Transparent
All transactions and prizes are viewable on the blockchain at all times.

Winning Chances
You have a chance every time the lottery takes place,
as you are only betting against a certain number of participants.
Every game has a winner!


After the winner of the lottery is selected, a smart contract will send the prize automatically to the
appropriate Ethereum address(es). The prize will be split in the way as the image above.



Token Structure & Usage
There are 2 tokens: The Loteo Security token (LOTES) and the Loteo Utility token (LOTEU).

Security Token
LOTES is a security token which is meant to be sold only in private funding round (the STO). There will not be any public sale, for all investment requirements, please fill the form on the website. 100% from the platform profit will be distributed to LOTES holders, depending on how many tokens they hold in their wallet

The LOTES are locked for 15 months and during this time it is not possible to buy or sell them anywhere else. After the first 15 months pass, there will be another funding round during which LOTEO will sell at least 30% of all tokens in compliance with legal and regulatory requirements. All details will be revealed before this event. After selling these tokens, the token will be listed on exchanges enrighted for token trading.

After 15 months, maximum 20% of all security tokens will be owned by the lottery while at least 80% will be decentralized, preventing the lottery from being manipulated. The token also has a governing function, meaning any significant change has to be achieved by consensus and any token holder can issue a suggestion or voting.

Do you want to be a part of Loteo?


Utility Token
LOTEU is utility token of Loteo, that enables to double your chance by lottery drawing. It doesn’t raise the prize, but it increases your ticket number in the pool. Already now there is a game with entry just in LOTEU - Moon of Fortune and if you are lucky enough, you can win an entry into regular lottery and possibly hit a jackpot.

By using of LOTEU at the game called FOMO you literally buy a chance not to loose, as you have one more chance during the game. And there will be more and more games coming soon. As there was no ICO for this token and huge part of it was airdropped for the community, there is no option to enter into main Weekly Lottery with LOTEU now. There is a plan to have also LOTEU as a payment option for the main games after the value of token is stabilized and not so volatile.

There is a quarterly burning event of this token as well. Loteo is burning 20% of all tokens received on the platform until the total supply of token is 100 000 000. Long term plan of the platform is to become B2B provider of its own solution for blockchain gaming & gambling and for anyone that wants to use this solution, there will be a condition to stake different amount of LOTEU tokens according to specified type of cooperation.






Roadmap



You can find Us on:

 
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LOTEO
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March 02, 2019, 05:13:15 PM
 #2

Reserved
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March 02, 2019, 07:12:05 PM
 #3

I never tried the one on freebitco.in faucet site so I have no idea at all about how that site works, but if I am correct, then you tried to establish a lottery based on blockchain, and how will that be different from the site I mentioned earlier? They have the advantage of free tickets, and AFAIK, their fairness is provable too
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March 02, 2019, 11:22:06 PM
 #4

I never tried the one on freebitco.in faucet site so I have no idea at all about how that site works, but if I am correct, then you tried to establish a lottery based on blockchain, and how will that be different from the site I mentioned earlier? They have the advantage of free tickets, and AFAIK, their fairness is provable too

The team is implementing 2 tokens, a security token LOTES and a utility token LOTEU. Where you can be not only a player but also a owner of the lottery. You can profit from every single ticket should you take part and hold the security token LOTES, with which you can profit even if you dont win. The idea is to give people a chance to become part of one the biggest online bussinesses. It's even better when you consider that the biggest game advantages is that there's a winner on every draw. You can also participate with double or triple chances the more tickets you buy, and your odds are calculated against every other player rather than being a fixed impossibly small amount.
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March 04, 2019, 08:01:13 PM
 #5

The lottery is subject to increased requirements for transparency and undisputed proof of winnings. Without trust, it will be impossible to form a large fund.
LOTEO
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March 05, 2019, 06:12:38 PM
Last edit: September 23, 2019, 02:22:13 AM by mprep
 #6

Here are the reasons why you should form a part of LOTEO, should any of these fit what you're interested in then make sure to come around!

Join our communities in telegram!








WIN MUCH MORE WITH THE FIRST 1000 LOTEOPASS TICKETS





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March 11, 2019, 06:56:31 PM
 #7

Have you done your lottery? Already played some kind of prize funds. What are the guarantees and how transparent is your lottery?
feryjhie
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March 11, 2019, 07:45:28 PM
 #8

Have you done your lottery? Already played some kind of prize funds. What are the guarantees and how transparent is your lottery?

if you visit the website you will see when the first lottery start


i see on the website that the first lottery will start in May 2019,
so how the people can join the lottery? since the tokens is locked for 15 months?
and if people just use ethereum to join the lottery will the investor get a dividend for 15 months the tokens locked?




...loteo...
DIGITAL ERA LOTTERY


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r

RPLAY NOWR
BE A MOON VISITOR!
[/center]
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March 11, 2019, 08:37:49 PM
 #9

also they mentioned the chance of winning from the op, how is it different from the traditional lottery aside from obviously integrating the blockchain in their system?
how it will give a higher chance of winning to the individual?
can you explain much further how the probability of winning here is different from the regular lottery machine?

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March 11, 2019, 09:01:10 PM
 #10

Have you done your lottery? Already played some kind of prize funds. What are the guarantees and how transparent is your lottery?

We are preparing a new blog article about scams and how to know if a lottery is transparent or not. Make sure to stay tuned to check it out!!

Bullet points:

  • Our code will be open source on github, this of course is not enough - we will have the same code on etherscan.
  • We have our specific way of RNG (random number generator), that will be subjected to external audit of RNG, without external audit most RNGs can be considered worthless!
  • External audit of our smartcontracts for tokens to make absolutely clear that we dont have any kind of back door.

also they mentioned the chance of winning from the op, how is it different from the traditional lottery aside from obviously integrating the blockchain in their system?
how it will give a higher chance of winning to the individual?
can you explain much further how the probability of winning here is different from the regular lottery machine?

This one is not very difficult, traditional lotteries can have draws without winners which add up to the jackpot, but a winner is not guaranteed and not all the funds go to the jackpot as there's no audits to the way they handle money, despite government regulations. On the other hand, LOTEO will have a winner on every single draw, chances of winning are calculated by pitting users against each other, so it will vary depending on the player pool.

You can ask any questions you may have, the team is here to answer them all! Cheers Smiley
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March 11, 2019, 09:10:26 PM
 #11

Have you done your lottery? Already played some kind of prize funds. What are the guarantees and how transparent is your lottery?

We are preparing a new blog article about scams and how to know if a lottery is transparent or not. Make sure to stay tuned to check it out!!

Bullet points:

  • Our code will be open source on github, this of course is not enough - we will have the same code on etherscan.
  • We have our specific way of RNG (random number generator), that will be subjected to external audit of RNG, without external audit most RNGs can be considered worthless!
  • External audit of our smartcontracts for tokens to make absolutely clear that we dont have any kind of back door.

also they mentioned the chance of winning from the op, how is it different from the traditional lottery aside from obviously integrating the blockchain in their system?
how it will give a higher chance of winning to the individual?
can you explain much further how the probability of winning here is different from the regular lottery machine?

This one is not very difficult, traditional lotteries can have draws without winners which add up to the jackpot, but a winner is not guaranteed and not all the funds go to the jackpot as there's no audits to the way they handle money, despite government regulations. On the other hand, LOTEO will have a winner on every single draw, chances of winning are calculated by pitting users against each other, so it will vary depending on the player pool.

You can ask any questions you may have, the team is here to answer them all! Cheers Smiley

Your answer makes sense. And that is true, traditional lottery have draws without winners and that amount is added to the jackpot. And no one knows if they are giving the right amount unfortunately. And with blockchain lottery, you have assurance that there will be a winner in every single draw. That's nice! But how much is the percentage that goes to the house?

LOTEO
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March 12, 2019, 12:05:42 PM
 #12

And with blockchain lottery, you have assurance that there will be a winner in every single draw. That's nice! But how much is the percentage that goes to the house?

That's a good question! More details can be seen on this image:



20% of the lottery winning prize goes to LOTES holder while 1% goes to charity and 4% goes to the Affiliate program. There are no hidden fees whatsoever, the winner will get 75% of the prize.
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March 12, 2019, 05:54:30 PM
 #13

I read your answers. I was pleased. You respond in sufficient detail to the essence of the project, and this is good, since knowledge of the topic is credible.

LOTEO
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March 13, 2019, 08:30:30 AM
 #14

I read your answers. I was pleased. You respond in sufficient detail to the essence of the project, and this is good, since knowledge of the topic is credible.

Thank you!

We have a piece earlier yesterday on how to avoid lottery scam, please take a look:

https://medium.com/@playloteo/how-to-avoid-the-lottery-scams-3738fcca218c
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March 15, 2019, 07:34:37 PM
 #15

Tell me why run airdrop, if you have not even set up a site on which now you can not even register. Would have added to airdrop entering the ether wallet at least
LOTEO
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March 17, 2019, 01:30:00 PM
 #16

Tell me why run airdrop, if you have not even set up a site on which now you can not even register. Would have added to airdrop entering the ether wallet at least

Our platform will be ready for community testing later next month. By then, everyone will be able to register for an account. We will pick the best contributors in the community to test our platform and reward them accordingly.

Why are we doing this kind of airdrop is because there will be more airdrop for the community. Read our unique token structure here:

https://medium.com/@playloteo/unique-token-structure-a356d43c6fe2

Thank you for your feedback and we'll be happy to answer any questions you might have.
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March 17, 2019, 05:32:33 PM
 #17

Tell me why run airdrop, if you have not even set up a site on which now you can not even register. Would have added to airdrop entering the ether wallet at least

Our platform will be ready for community testing later next month. By then, everyone will be able to register for an account. We will pick the best contributors in the community to test our platform and reward them accordingly.

Why are we doing this kind of airdrop is because there will be more airdrop for the community. Read our unique token structure here:

https://medium.com/@playloteo/unique-token-structure-a356d43c6fe2

Thank you for your feedback and we'll be happy to answer any questions you might have.

I hope you will send an invitation email for registration
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March 18, 2019, 04:56:16 AM
Last edit: September 23, 2019, 02:38:45 AM by mprep
 #18

I hope you will send an invitation email for registration

Yes, zerosoul, of course we will. Smiley



Do you want to learn what makes us different to regular lotteries? How can the blockchain really be better than the current alternatives in lottery? Learn about this and more:

https://medium.com/@playloteo/lottery-lost-tickets-cases-and-how-blockchain-and-loteo-can-solve-it-449c066575eb




Decentralization is key for fair play, there's a monopoly in lottery and we're here to DISRUPT it using the blockchain. Learn how: https://medium.com/@playloteo/governments-and-monopoly-behind-lotteries-adb03fd4ad8c



Affiliate program with rewards FROM 40%! Refferal links active just in few days, be ready!




We will have something big today and we will pick the most active community members to do a private test on the platform!
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April 01, 2019, 08:53:42 PM
 #19

Hello,
great concept you got here!
do you already have an agreement with exchange platforms to trade LOTES ?
LOTEO
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April 02, 2019, 06:03:19 AM
 #20

Hello,
great concept you got here!
do you already have an agreement with exchange platforms to trade LOTES ?

Hi BTCTalker2020, thank you. The answer to that question is: Yes. However, we cannot disclose anything about that at this moment. Though, let's recap our current update below.



PLATFORM STATUS: READY

As per the platform status, let us happily announce you significant news that we are launching the LOTEO testing platform as promised on 1st of April 2019 with the following structure:

· MVP is ready and testing starts with the chosen community partners for the whole month of April
· All the platform functions are put into operation, including all the tickets purchase, registration and also the links for affiliate business partners
· The private partners can use the tickets for drawing right away
· The public can use the tickets for drawing from the 1st of May

The soft launch is estimated as planned on 1st of May and hard launch on 1st of June 2019.

Head over to https://www.playloteo.com/home to see the new website including the weekly lottery.

 
LOTES PRIVATE SALE

Ends in approximately 28 days from this post. You can reach us at this link https://www.playloteo.com/contact-us to be part of the private sale.


LEGAL ISSUES

LOTEO has established a company in Curacao and its subsidiary in Cyprus that applied for an online gambling license. Regarding the structure, LOTEO will receive a global online gambling license except for the USA. We are awaiting the completion within 3 to 4 weeks including some additional feedback discussions if needed.

TRUE RNG CERTIFICATION

We at LOTEO focus on the true randomness and therefore we have integrated the random number generator system and engaged external company www.random.org for the certificate. We have upgraded to true random generator system which is the best solution nowadays. RANDOM.ORG offers true random numbers to anyone on the Internet.

This service has existed since 1998 and was built by Dr. MadsHaahr of the School of Computer Science and Statistics at Trinity College, Dublin in Ireland. Once we obtain the official certificate, it will be submitted as additional document to achieve the license in Curacao. Additionally, we also plan the smart contracts to be audited to enhance the transparency as well.

Estimated time frame is 3–4 weeks.


AIRDROP UPDATES

We have realized the first airdrop, dated from the 15th of March 2019 till 31st of March, with the following results:

· 2860 participants altogether with 22 000 activities done
· Although liking was not the airdrop condition, around 1000 participants have liked our video and we have gained 2300 new subcribers on our youtube channel which resulted in more than 7500 views
· Due to the unique visual apperance of the reddit channel, more than 2000 new subscribers have joined the platform

We will launch another airdrop TODAY! Stay tuned, guys!
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