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What Is a Bitcoin Lottery?

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For those of you who have not heard yet, Bitcoin hit an all time high of almost $20,000 per Bitcoin (BTC) and has since been fluctuating between $16,000-$20,000 for the past few days. Many traders, investors and technology enthusiasts are speculating whether or not this is a “bubble” that will “pop” eventually or if the price will keep on skyrocketing to the moon and just never stop going up. Some believe it is a “bubble” that is bound to “pop” and some believe it is a great way to invest money, others even see it as a perfect get rich quick scheme where you buy low and sell high, even during a 24 hour period, and make profit from the buy/sell difference.

But this is not what we are writing about today, what we are writing about isn’t the blockchain technology or the Bitcoin price fluctuations, we are today talking about a new and growing phenomenon in the lotto world known as “Bitcoin & Cryptocurrency Lotteries”, as we have been seeing dozens of these types of lotteries sprout up and so much hype is being made about them on the internet and on social media.

So What Are Bitcoin Lotteries?

A Bitcoin lottery is a betting game where a 6/49 lottery matrix for example, similar to the matrix of the Spanish Bonoloto lottery game, is used to draw a set of numbers. Players will purchase a virtual ticket and try to guess the outcome of the draw and if they guess all of the numbers correctly they win a prize – but instead of being payed in regular money, the prize money is payed in Bitcoins or in a variety of cryptocurrencies and digital moneys.

Official Bonoloto Tickets - Similar Matrix To Bitcoin Lottery, But With an Official Game and Regular Money

Official Bonoloto Tickets – Similar Matrix To Bitcoin Lottery, But With an Official Game and Regular Money – Play Now and Win REAL Money

Are Bitcoins Real?

Bitcoins are classified by most as a “technology” and as a “speculative asset” but many are saying that it has no real value and unlike the US Dollar and the Euro it is worth nothing more than the belief that people hold in it, furthermore, not many places accept Bitcoin or other cryptocurrencies as payment for products, goods or services. We believe that in the long run, it may be better to win a jackpot in a regular lottery game, where the payout is in normal currency, than in a Bitcoin lottery. Those Bitcoins that you may win could loose all of their value suddenly and without warning while major currency such as Dollars or Euros will not crash suddenly anytime soon.

Most are saying that Bitcoin is a "bubble" and will soon "pop" and loose most of its value

Most are saying that Bitcoin is a “bubble” and will soon “pop” and loose most of its value

Should You Play a Real Lottery Like Bonoloto or a Bitcoin Lottery?

The choice is yours and only you can decide if you would rather buy a regular Bonoloto ticket or play a Bitcoin lottery game. The fact s that they both use the same rules, the Bitcoin lottery takes the same numbers drawn during the Bonoloto draw or the Powerball draw (whichever lottery the Bitcoin lotto website is emulating) and uses the original lotto games drawn numbers as their own. It might be safer and smarter to just play a regular lottery game. If you are a Bitcoin freak then you probably will prefer the Bitcoin lotto game over a regular lotto game, but if you are a lottery lover, you should stick to what you know works.

Check out the list of real lottery games that you can play on Lottosend and enjoy purchase of a variety of official scanned tickets with a variety of safe and secure deposits when purchasing,
click here for the full list of lotteries.

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