Introduction

Lotteries are now a big business, involving more than 100 countries and 200 jurisdictions, and worldwide sales of lotteries are estimated to amount to almost $224.3 billion in 2007 and up to $400 billion in 2020 with a projected 10% growth over the next 1-3 coming years.

Despite lotteries' long history and the vast amount of money involved, lotteries around the world are plagued with problems. The flaws of the current government and private lotteries are turning away a great number of players, as the fairness of these games is difficult to demonstrate.

Creating a lottery system is a difficult process, and the current one has many flaws. There's no doubt that technology can help us simplify our work and address current shortcomings. This is where blockchain and smart contract technology comes in; leveraging it could make the lottery industry much more efficient.

The smart contracts have made it easier for fairer, safer, and more transparent lotteries that give players more chances to take part. As the online gaming sector expands and demographics change, lottery players want to be able to play in new ways too. Blockchain technology is the future of lotteries, enabling a sustainable and secure system that can be trusted. With blockchain, players all over the world have a fair chance at winning prizes.

We’re excited to share with you not only a great way to make the bags of your favorite cryptocurrencies bigger, but ultimately LotteryX is about bringing people together and having an awesome time.

A lottery dApp that is conventionally ruled, anonymously played, and autonomously operated, LotteryX is an innovative, next-generation blockchain-based solution designed to enhance the experience of participants and remain the meeting point between technology, fairness, and entertainment. LotteryX addresses the weaknesses of traditional lotteries by building them on top of blockchain tech. This means increased security, transparency, and performance than ever before. It offers a multifaceted approach to simplifying the current lottery model and fixing its defects by enabling fast, reliable, and tamper-proof technology access to players, while maintaining the traditional elements. The fully automated and decentralized solution, operated by smart contracts on Binance Smart Chain (BSC) with multi-chain capabilities, has been designed to effectively bridge the gap between a blockchain gaming experience and traditional practice, while maintaining the lottery’s critical process and values as central to the business model. The team behind LotteryX has a strong track record within their field of expertise. Founders and Advisors both have solid backgrounds in project management, FINtech, DeFi and cyber security. They are proudly backed by a team with a proven track record in multi chain engineering, technology, automations, business development and marketing, who bring their insights and talents to make sure LotteryX completely fulfills what it promises.

Lotteries have been a part of human history since its beginning. Different forms of lotteries were recorded in the Old Testament; Roman emperors offered them for entertainment; French kings used them to balance state deficits; and modern states rely on lotteries to finance an important part of their public works. Lotteries are now a big business, involving more than 100 countries and 200 jurisdictions, and even in countries where traditional betting and casino-style gambling is outlawed, lotteries remain legal.