Recently it came to our knowledge that there is a company out there that plans to revolutionise the world of online lottery – Fire Lotto, and the best thing is that you may become one of its early investors. Let us tell you more about what Fire Lotto is all about and how you can invest into it already now.
Ethereum-based lottery games
One of the major issues behind all of the lotteries, no matter online or offline, is the lack of transparency. Unlike most of the lottery brands on the market, Fire Lotto operates via a publicly available Random Number Generation (RNG) code that can be verified and checked against the possible manipulations.
The legal framework behind the lotteries is not so open in the vast majority of the countries. The largest share of EU-member states is served via a single governmental monopoly for the lottery games. Many other countries have a completely closed one – meaning that all of the lottery companies are either violating the law or simply do not exist. However, Fire Lotto is what can connect the lottery player together regardless of their location. As Fire Lotto is fully decentralised, it can serve the clients from all of the countries, even the ones that completely restrict lotteries or limit those to their own monopolies.
Most of the countries tax the lottery winnings, and the vast majority of the countries actually have some incredibly heavy taxation policies. When it comes to Fire Lotto, a lucky player is paid his winnings instantly, and the funds are sent in ETH to the online cryptocurrency wallet. It is up to a player to file the tax declaration as his identity remains hidden.
What makes it a good investment?
Unlike most of the iGaming companies that are privately funded, Fire Lotto has decided to go the innovative way and raise the funds for its first jackpot of over 1,000,000 USD via the most modern method of attracting the investors – an Initial Coin Offering (ICO).
How will it work?
Between now and 15th of April, the investors will be able to buy Fire Lotto tokens to support the project, and also get a slice of the company. If an investor decided to chip in now, it should be possible to score a great deal as the tokens are priced at 0.25 USD a piece. Later, once the ICO moves into a pre stage, the tokens will cost 0.35 USD and, finally, the ICO stage will feature a token price of 0.5 USD. There will be a total of 100,000,000 tokens sold during all of the stages, hence the company can be valued anywhere between 25 and 50 million USD.
What can the investors expect?
The lottery industry has been showing a positive growth of around 5% each year for the last decade and the iGaming sector is expected to continue growing even further. Besides that, the revenues of the lottery companies have more than doubled during the last decade.
When looking at similar companies, it is possible to expect the price of a token to go up above 1 USD, in case the project proves to be successful within a year or less.
What makes it trusted?
The company has already a working prototype which is shared with the general public. You may click here and test the lottery for yourself.
Besides that, instead of focusing on a single product, Fire Lotto takes a safer approach. It will launch four types of lotteries simultaneously, and this way it will be able to cater to different types of players. While the first 3 lotteries are not too different from each other, the 4th type (Roger’s Wheel) is some sort of a nearly instant game that will keep the players busy while they wait to get the hands on the jackpot.
Keep in mind that you should conduct your own due diligence when investing online, especially when it comes to Initial Coin Offerings. However, the iGaming sector is booming now and it certainly seems that there are many opportunities coming up that should not be missed.