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Bitcoin Lotto Help & FAQ
Bitcoin Lotto supplemental terms and conditions
1. Bitcoin Lotto is based on the lottery numbers drawn on the official Spanish lottery, Bonolotto https://www.loteriasyapuestas.es/en/bonoloto. 2. The draw takes place on Monday, Tuesday, Wednesday, Thursday, Friday and Saturday at 9:30 pm (Central European Time). 3. The top tier prize is seeded at 150 Bitcoins. The second prize tier is 1 Bitcoin. 4. If you are lucky enough to win the top or second tier prize you have the option, at your election to take the cash equivalent. 5. The cash equivalent will be based on the value of a bitcoin as displayed at 9:30 pm (Central European Time) of the day of the relevant draw on https://www.coinbase.com/charts. The bitcoin initial value on this website is in US dollars. We will therefore use a recognised exchange such as oanda.com to convert the value of the bitcoin from US dollars into your local currency. 6. If you choose to be paid in Bitcoin, we will lock in the value of your Bitcoin(s) as displayed at the time of the draw on https://www.coinbase.com/charts in your local currency. At time of pay-out, we will then convert back the locked value into Bitcoins. 7. Lottoland reserves the right to amend the price per ticket at any point for whatever reason. 8. Lottoland reserves the right to amend or withdraw this product at any point for whatever reason. 9. Lottoland Limited general terms and conditions apply: https://www.lottoland.africa/terms
Overview
The world’s going Bitcoin bonkers, and so are we! That’s why we’ve launched the world’s very first regulated Bitcoin lotto jackpot, with a humungous heap of Bitcoin as the top prize.
To help you play this fantastic new game, here’s our Help & FAQ section, where you’ll find all the answers to the most frequently asked questions for the Bitcoin Lotto.
What is the Bitcoin Lotto?
Bitcoin Lotto is a brand-new game and is exclusive to Lottoland. The numbers for the Bitcoin Lotto are derived from the official Sorteos De Bonoloto, a simple and straightforward 6 from 49 lottery draw which takes place every day (except Sundays) in Spain.
What is Bitcoin?
Bitcoin is a type of digital currency which can be used to buy things electronically. It’s been around for a few years now, but over the last few months, its value has surged massively.
Our top prize starts from 1000 Bitcoin (BTC) – currently worth an incredible €14.2 million (US$ equivalent)!
How does playing Bitcoin Lotto work?
When you play Bitcoin Lotto at Lottoland, you are betting on the outcome of the six main numbers drawn from the Spanish lottery Bonoloto. If the numbers on your ticket match the numbers from the draw, you win a prize from the corresponding prize tier (the “Complementario” and “Reintegro” numbers do not affect the Bitcoin Lotto).
How do I play Bitcoin Lotto at Lottoland?
Playing Bitcoin Lotto couldn’t be simpler; just choose 6 numbers from the main pool of 1 to 49. You can also select the QuickPick option (Quick+1) which will automatically choose your numbers.
Once you have chosen your numbers, press “Submit”. This will take you through to a checkout – at this stage just click “Confirm” to purchase your ticket.
How much does it cost to play Bitcoin Lotto?
The cost of a ticket is currently US$4.00.
What are the odds of winning the jackpot?
The odds of winning the jackpot (starting from 1000 BTC) are 1 in 13,983,816, far better than the odds of many multimillion pound jackpot draws such as the UK national lottery, and ten times better than the odds of EuroMillions.
What are the different prize tiers available?
The following table explains the different prize tiers and the individual prize returns for each tier.
| Prize Tier | Odds | Prize Payout | EUR (subject to fluctuations) |
|---|---|---|---|
| Match 6 numbers | 1 in 13,983,816 | from 1000 BTC | €14,266,000 (US$ equivalent) |
| Match 5 numbers | 1 in 55,492 | 1 BTC | €14,266.00 (US$ equivalent) |
| Match 4 numbers | 1 in 1,033 | €50.00 (US$ equivalent) | |
| Match 3 numbers | 1 in 56.7 | €5.00 (US$ equivalent) | |
| Match 2 numbers | 1 in 7.6 | €1.50 (US$ equivalent) |
Exchange rates correct as of 14th December 2017
Will I have to share my winnings?
The tier 1 prize (from 1000 BTC) will be shared equally between any-and-all tickets that match the 6 numbers and the number of Bonoloto jackpot winners.
For example, if there are 2 Lottoland winners of the Bitcoin lotto and 2 winners of the Bonoloto jackpot, the 2 Lottoland winners would each win 250 BTC.
Winning tickets from lower prize tiers do not share the corresponding prize amount; they will each win the prize payout in full.
Will I be paid in Bitcoins or cash?
It’s entirely your choice!
What do I do if I win?
If your account has been verified, simply proceed to your account and withdraw your winnings. If your account has not been verified, you will first need to provide proof of ID and proof of address. Once this has been confirmed, you will be able to withdraw your winnings.
Is the payout guaranteed? How do I know?
At Lottoland we can guarantee you will be paid out on your winnings - regardless of the jackpot amount.
At Lottoland you bet on the outcome of the official draw. For all intents and purposes you will have the exact same customer experience as if you were playing the official lottery. The key difference is that we take your bet and we pay you if you win. We are able to achieve this in two ways.
For smaller prize tier payments we make the payment directly from the fund we have from the total ticket sales.
In order for us to make the larger prize tier payments we take out insurance policies to cover the eventuality of a Jackpot win or a substantial payout on the Lotto ticket. Part of the Lotto ticket price you pay goes towards the payment of this policy.
We are registered with and regulated by the UK Gambling Commission, the Gibraltar Gambling Commission, and the Revenue Commissioners in Ireland. In order for us to retain these licences we have to prove that we are able to make the required payouts to our players should they win and that we have the correct procedures in place to guarantee this.
