Lotteries in various forms have been around since the 2nd century B.C. People really enjoy the suspense of buying a ticket and hoping to win big time. The problem has always been that lotteries are inherently easy to manipulate and corrupt which lessens the odds of winning immensely.

Even without manipulation, lotteries are profitable for organizers, with many claiming very high profit margin. All that has changed with the launch of LOTEO, the first transparent Lottery based on blockchain technology. This is the next generation of the lottery which will disrupt the old model in a massive way.

In order to understand how much can be disrupted, let’s look at some numbers so that you can have a decent idea how big this industry is and how much are people actually winning.

According the World Lottery Association, the lottery industry has generated revenues in the amount of $283 billion in 2017. This number is based just on the association members reporting and probably it does not contain all the lotteries.

If we look at the overall gambling annual numbers and trends, you can see that the gambling world has experienced impressive growth from 2011 till 2016 which continued up to now and the future is positive as well with predicted value set to reach $635 billion in the coming years as stated at www.casino.org.

If you want to have a comparison or benchmark what this number means, for example, the automotive industry itself has annual revenues around $2 trillion. Hence the gambling industry makes approximately 20% of the automotive one which is a huge share.

HOW MANY PEOPLE DO THE LOTTERY?

It turns out — a staggering 70% of the UKs over 18 take part in the national lottery on a regular basis, which is close to 45 million people. That’s about the same amount of people that live in Ukraine. On top of that, at least 50% of the overall population play lotteries more than once a month, and on average they buy a minimum of 3 tickets each week.

Besides the English people, also 57% of the American population, 181 million people, buys at least one lottery ticket a year. Unlike in the UK, American men are more likely than American women to pick up a ticket, especially if they don’t live alone.

THE 5 BIGGEST LOTTERY PRIZES EVER

Despite the fact that the odds of winning are very low in the conventional lotteries, for a few extremely lucky lotto players that dream came true. These are the top five highest lottery jackpots and the people who won them.

5. $590.5 MILLION, MAY, 2013

Florida’s Gloria Mackenzie was the sole winner of a Powerball jackpot worth more than $590 million in May 2013. At the time, it was the largest jackpot ever won by one person.

4. $648 MILLION, DECEMBER, 2013

Ira Curry of Georgia and Steve Tran of California split a massive $648 million Mega Millions jackpot in December 2013.

3. $656 MILLION, MARCH, 2012

This Mega Millions jackpot had three winning tickets. One ticket was purchased by Merle and Patricia Butler of Illinois. The other winning tickets were sold in Maryland and Kansas, where winners can remain anonymous.

2. $758.7 MILLION, AUGUST, 2017

This massive Powerball jackpot smashed the previous record for the biggest win for a single ticket when Mavis Wanczyk of Massachusetts.

1. $1.59 BILLION, JANUARY, 2016

Three winners claimed the Powerball prize that would be the biggest jackpot in history.

WINNING CHANCES WITH LOTEO

As mentioned above, unlike conventional lotteries in which you bet against an unknown number of drawn numbers, in LOTEO you only bet against other purchased tickets, an amount that is several thousand times smaller than the number of potential winning combinations in standard lotteries.

That’s why your chance to win the lottery is higher and, furthermore, there is a winner in every drawing. This means every week and every day.

We at LOTEO believe that with the transparent and fully automated blockchain lottery we are building, the users can win significant prizes in a very short time.

We think the future is not something to be predicted, it’s something to be achieved, and we can achieve a very different future as long as we want it.

Stay tuned for more examples, articles and educational videos to be published with the approaching launch!

For more questions do not hesitate to contact us as mentioned below or read the official whitepaper.

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