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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 0 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 bet 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.co.uk/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 bet on 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 £10m!
How does betting on the Bitcoin Lotto work?
When you bet on Bitcoin Lotto at Lottoland, you are betting on the outcome of the six main numbers drawn from the Spanish lottery Bonoloto and the results of it can be found here. If the numbers on your bet 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 place a bet on the Bitcoin Lotto at Lottoland?
Placing a bet on the 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) to randomly choose your numbers.
Once you have chosen your numbers, press “Place Bet”. This will take you through to a checkout – at this stage just click “Confirm” to place your bet.
How much does it cost to bet on the Bitcoin Lotto?
The cost of a line bet is currently £3. The line bet price may be adjusted in line with the GBP value of the bitcoin for each draw.
What are the odds of winning the jackpot?
The odds of winning the jackpot are 1 in 13,983,816, far better than the odds of many multimillion pound jackpot draws such as the UK national lottery.
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 | GBP (subject to fluctuations) |
|---|---|---|---|
| Match 6 numbers | 1 in 13,983,816 | from 1000 BTC | 10m GBP |
| Match 5 numbers | 1 in 55,492 | 1 BTC | 13,983 GBP |
| Match 4 numbers | 1 in 1,033 | 50 GBP | |
| Match 3 numbers | 1 in 56.7 | 5 GBP | |
| Match 2 numbers | 1 in 7.6 | 1.50 GBP |
Exchange rates correct as of 22nd December 2017
Will I have to share my winnings?
The tier 1 prize (from 1000 BTC) will be shared equally between any-and-all bets 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 bets 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!
Where will Lottoland get winning Bitcoins from?
We partner with Coinbase, which is regulated by FinCEN as a Money Service Business. They use advanced tools to perform Blockchain analysis which gathers data in real time that they combine with historical data to give an entity view of all bitcoin users which gives, as far as is possible, a full trace on source of funds for Bitcoins.
Is the payout guaranteed? How do I know?
All your winnings are guaranteed to be paid out at Lottoland!
All bets are placed on your behalf with EU Lotto Limited, licensed by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner and the Gambling Commission for Great Britain.
