tongkol: Belotto

Belotto

Belotto

mission to create the first global cryptocurrency lottery system

The Internet has made way for new types of gambling to form online. Improvements in technology have changed betting habits just as video lottery terminals, keno and scratchcards changed the gambling industry in the early 20th century. Gambling has become one of the most popular and lucrative businesses present on the Internet.

Due to the disparity in the regulation of the global gambling industry and the number of businesses in it that operate on the wrong side of the law, it is not easy to estimate its total market value, however, it is known to hold an important share in the entertainment industry by raising over 400 billion dollars per year, and this includes lotteries, casinos, poker, and others.

Despite this huge success, when these games are virtualized the outlook becomes way more complicated and the several inconsistencies that online gambling systems present discourage people from investing their money through Internet-based options. Although there is growth, the truth is that the online gambling sector needs adjustments and improvement in order to be taken more seriously and attract a wider amount of players.

PROBLEM

Inconsistencies, lack of reliability, overpriced services and the fact that users never know what happens behind their screens when they gamble online, are some of the problems that lottery users face when playing online (and it’s not so different when offline), there is a lot of uncertainty and doubts nearly always followed by disappointment and as a final result, a potential industry growing at a shorter pace than it should

SOLUTION

Before blockchain, we knew no solution to this. But now, the Belotto system is capable of ensuring users that their money will go straight to a common pool, that will only be taken by winners through an autonomous and inalterable framework powered by Smart Contracts. And the “who wins”? enigma will be dictated by blockchain itself, as an unprecedented decentralized drawing methodology. We won’t even generate the numbers, and you can check it all for yourself. No manipulation here, or there. It’s virtually flawless.

We deliver innovation, transparency, trust and security to the most popular gambling game of all times by eliminating the risk of misallocated money, drawing or jackpot manipulation through a decentralized lottery scheme powered by blockchain, and what's even better, what you are announced is what you get, not a cent less. With Belotto, the house never wins. Users do.

Three major lotteries will jump-start this project:

MISSION

Belotto is on a mission to create the first global, decentralized cryptocurrency lottery system that brings manipulation to an end establishing the biggest bond of trust between the crypto sphere and chance supported by Blockchain providing a new standard on the industry so that every forthcoming lottery operates in the same way, focusing on its users and not the administrative bodies and thus, offering the following advantages:

a) 100% transparency in drawings

b) Zero deduction over prizes

c) Worldwide reach

d) Payment options in accordance to the modern world

e) Incorruptible Management

What Makes Belotto the Best Lottery

No location-based restrictions

Receive jackpots in full - 0% deductions

No more fake data - accumulated prizes and winners

Know the numbers in real-time

100% transparent drawings.

Validate the winning numbers yourself.

OPPORTUNITY

The lottery business has been experiencing remarkable growth throughout the last years reaching a net revenue of 22.57 billion dollars per year in the United States alone, and has seen a 4.94 billion dollar raise in its annual income in the course of eight years, such growth is mainly fueled by double-income that is rooted in the increase of working women, boosting the overall income in households enabling the acquisition of exclusive products and leisure activities and in general the spending capacity of people in developed countries

It is also important to note how personal mobile devices are contributing to the rapid “virtualization” of the world:

“The growing adoption of smartphones and tablets and high penetration of internet will play a significant role in the growth of the market, especially in the mobile lottery segment”. -Technavio.

The capitalization of the main cryptocurrency markets and the public reception they have achieved, superseding all speculation and defiance of every statistic demonstrate their great power.

BUSINESS MODEL

Regarding fund allocation in traditional systems, it is known that usually only 50% or less ticket sale income is destined for prizes. Here is an actual example of a distribution scheme from the United Kingdom’s Lottery Association for the April-2016 to May-2017 period:

Smart Contracts will automatically allocate 70% of each ticket into the jackpot, the remaining 30% will be used for the business expenses that include: wages, platform maintenance and support services, technological infrastructure, cloud computing services, marketing, advertisement and revenue, among other expenses that may derive from rendering excellent quality service.

CREDIT SCHEME

Belotto’s lottery platform will make use of Credits that enable lottery ticket acquisition and will be available for purchase through cryptocurrencies, Fiat money and the BEL token (that will provide users with special discounts). Credits may also be stored in users’ accounts so that they are able to use the services anytime in a faster way.

BEL TOKENS

BEL Tokens are built over the Ethereum blockchain, a fundamental component of the Belotto ecosystem, designed in an integral way to be used within the platform. Acquiring BEL Tokens entitle users to purchase lottery tickets and receiving discounts within our privileged community. BEL Tokens can be obtained in pre-sale, sale and second sale stage through credits purchase