Lottoland rolls out "world-first" bitcoin lotto jackpot
Bitcoin-powered jackpot is backed by Lottoland’s proprietary insurance model
Lottoland has announced the launch of what the bet-on-lottery claims is the “world’s first” Bitcoin lotto jackpot.
The Bitcoin Lotto initiative will offer UK players the chance to join the Bitcoin boom and flavour of the month in the fintech industry as the currency continues to rise at meteoric rates.
The jackpot is seeded at 1,000 Bitcoins, which equates to approximately £14.1m.
Bitcoin Lotto follows the traditional lottery format of choosing 6 numbers from 49 balls, but players are almost ten times more likely to win on the 14 million to 1 Bitcoin jackpot than the EuroMillions.
But on the company’s new Bitcoin Lotto, Birrell added: “We’re pleased to be able to announce the launch of this world exclusive lotto betting product.
“One thousand Bitcoins are already worth £14.1 million today, but they might be worth double that by tomorrow.
“Bitcoin is a worldwide phenomenon, and Lottoland is giving our customers the opportunity to get involved.”
News of the launch comes after Lottoland CEO Nigel Birrell recently slammed the UK government’s decision to ban lottery betting on the EuroMillions draw.