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Author Topic: [ANN] LOTEO - Digital Era Lottery | Lottery needs a revolution!  (Read 381 times)
LOTEO
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March 02, 2019, 05:11:28 PM
Last edit: March 05, 2019, 06:50:12 PM by LOTEO
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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 a public sale, for all investment requirements please fill the form on website. This token grants owners an opportunity to profit from being part of a lottery without being attendees in amount 20% of each prize total value. 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. The price and all details  will be revealed prior to this event. After selling these tokens, the token will be listed on exchanges that offer security tokens trading. After 15 months, 20% of all security tokens will be owned by the lottery while 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 a utility token that will be used for marketing purposes. When you buy an additional entry into the lottery with 100 LOTEU, you double your chances of winning the lottery. It doesn’t raise the prize, but it doubles your ticket number in the pool. There will be more airdrops of this token through LOTEO’s marketing partners and there will be many more competitions that will reward LOTEU. The LOTEU tokens will be also distributed through bounty campaigns in accordance with LOTEO’s marketing plan.





Roadmap



You can find Us on:

 
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LOTEO
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March 02, 2019, 05:13:15 PM
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Reserved
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March 02, 2019, 07:12:05 PM
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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
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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.

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March 05, 2019, 06:12:38 PM
Last edit: March 05, 2019, 07:00:01 PM by LOTEO
 #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!




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March 06, 2019, 12:43:53 PM
 #7

WIN MUCH MORE WITH THE FIRST 1000 LOTEOPASS TICKETS


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March 08, 2019, 02:26:03 AM
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March 11, 2019, 06:56:31 PM
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Have you done your lottery? Already played some kind of prize funds. What are the guarantees and how transparent is your lottery?

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March 11, 2019, 07:45:28 PM
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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?



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March 11, 2019, 08:37:49 PM
 #11

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
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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
 #13

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
 #14

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
 #15

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
 #16

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
 #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

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
LOTEO
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March 17, 2019, 01:30:00 PM
 #18

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
 #19

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

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
LOTEO
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March 18, 2019, 04:56:16 AM
 #20

I hope you will send an invitation email for registration

Yes, zerosoul, of course we will. Smiley
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