The online lottery industry is currently suffering from a lack of growth. This is due to limited transparency and decentralization as well as hidden fees, convoluted rules, cheating, and a lack of trust. Third party involvement has also been shown to severely influence prize payouts and skew draw results, reducing the public’s trust in traditional lottery systems. The aim of SmartBillions is to provide the public with a fully transparent lottery system and freedom to participate for everyone around the world.
SmartBillions, is the world’s first lottery system that is completely transparent, decentralized, and fully anonymous. The platform is actually a smart contract that runs on the Ethereum Block chain. It will allow people all over the world to partake in online gambling in a multibillion dollar industry that’s constantly booming.
How Is SmartBillions Different?
SmartBillions aims to eliminate the fear of cheating, unfair taxes, and strict regulations. Run on an entirely decentralized platform and not influenced by any organization, company, or party. The lotteries secure system ensures that cheating and unsportsmanlike manipulations are gone. As a matter of fact, SmartBillions is holding a hackathon, offering anyone that can breach their smart contracts security system $500,000 prior to the ICO.
The Lottery system
Lottery players will have to create combinations of six number, ranging between 0 and 15. Payouts occur after at least 2 correct matches. With there being a draw every 15-20 seconds. Users can expect nearly instantaneous bet placements and instant payouts in ETH. The chances of winning a jackpot are also higher than in traditional lotteries, with odds being 1 to 16,7 million. Also, identities do not need to be verified in order to participate in the lottery.
In addition to Smartbillions stakes being the safest in the world, they will also be the highest, with user jackpots reaching $2.5 billion dollars on occasion.
PLAY Token sale details
Play tokens will be allocated immediately, while all funds raised are stored on a smart contract. SmartBillions also offers investors extra protection and assurance, by allowing them to return unused coins for a partial, 70% refund.
- Launch Date: October 16, 2017
- End Date: October 30, 2010, or when the hard cap is reached
- Goal: $58,000,000
- Token supply: 252,000,000
- 0,001 ETH per token
- 90% to jackpot 10% to marketing
- PLAY token holders will also provide dividends on a monthly basis. The dividend amounts are based on a fixed 5% ticket sale revenue for a given period allocated over the number of all PLAY tokens in circulation. Dividends will be automatically allocated to users wallets.
What’s to come for SmartBillions
The SmartBillions lottery will initially be accessible through a website, with a mobile app set to follow in Q1 2018, designed to simplify lottery participation for mobile users. The dev team will continue working on new smart contract type products and on adding more PLAY token functionality and use. Current plans include for the token to become a global online gaming currency that can be used on multiple platforms.
Expect PLAY to be listed on popular exchanges about 14 days after the token sale ends.