Reading: Online Startup Emerges as the New Deal-Breaker in Lottery Industry

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Online Startup Emerges as the New Deal-Breaker in Lottery Industry

Bitcoinist

Bitcoinist | Jun 05, 2018 | 21:00

Online Startup Emerges as the New Deal-Breaker in Lottery Industry Press releases

Online Startup Emerges as the New Deal-Breaker in Lottery Industry

Bitcoinist

Bitcoinist | Jun 05, 2018 | 21:00


Chancetowinbitcoin.io launches pixel-based lottery that lets customers win Bitcoins.


June 2, 2018 — In what could be the next major disruption of e-lottery industry, Chancetowinbitcoin.io has launched a one of its kind pixel-lottery game that rewards winners with bitcoins. The web-based startup sells lottery “tickets” in the form of pixels that are up for grabs on a pixel grid on its website.

Online lottery is a fast-growing market currently worth hundreds of billion dollars. According to data from research consultancy firm Technion, the global lottery market is set to snowball between 2018 and 2022 with a compounded annual growth rate (CAGR) of 10% [1]. By introducing lottery industry to the raging popularity of cryptocurrencies, Chancetowinbitcoin.io seeks to pioneer a novel era of crypto-lotteries.

To participate in a draw, users complete a quick account registration and simply select the pixels they wish to purchase on the pixel grid. Pixels can be bought with Bitcoin (BTC), presently set at the rate of 0.00001 BTC per pixel. Each draw has 1 million pixels for sale, of which 50 are randomly designated as winning pixels. As more of the grid is revealed without a winning pixel, the jackpot size swells to a maximum of 5 BTC, worth a whopping $40,000 by current market rates. When a winning pixel is sold, the pot size reduces by its corresponding percentage. Once all prizes are won, the grid refreshes and the lottery restarts with a new pot total. Winners are instantly notified, and prizes deposited to their respective Bitcoin wallets.

Chancetowinbitcoin.io is the brainchild of its Chief Executive Officer John Westbrook, who is a passionate digital entrepreneur based in Panama. “We are very excited because our overarching mission is to educate masses about cryptocurrencies, evangelize its potential and be a part of the blockchain revolution in a fun, yet engaging way”, Westbrook said. “In addition, a part of our proceeds goes to Panama Wildlife Conservation [2], an organization dedicated to the preserving local biodiversity and helping impoverished communities in Panama”. When inquired about future prospects, Westbrook replied that the startup would incorporate more cryptocurrencies as well as new games to meet popular demand.

The pixel-lottery game is live and accessible at www.chancetowinbitcoin.io

Citation:

[1] https://www.technavio.com/report/global-lottery-market-analysis-share-2018

[2] https://panamawildlife.org

Contact:

John Westbrook
Chief Executive Officer
E: [email protected] P: (+507) 951-1873


Images courtesy of Chancetowinbitcoin.io


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