Another fun way of gambling with Bitcoin is the interesting BTC Raffle games. They are usually being offered together with other well-known activities, such as slots, poker, and sportsbooks. Sometimes you can find Bitcoin Lottery as the main feature of some websites. It is a raffle kind of entertainment where you and other people buy tickets with corresponding numbers on them.
After a certain period of time, the system picks a number, and that number is the winner. These games appear in a variety of ways. So let’s take a look at them. The main way these games differentiate is through price and length.
What does this mean?
It means that depending on the provider, i.e. Bitcoin Casino the price for a lottery ticket is different. Some websites offer cheaper prices, while some casinos offer a variety of different lotto with prices ranging from very small to quite large. Generally, they create these games by following the demand and communicating with their visitors. So it’s a safe assumption that bigger companies would have more variety up on offer than smaller ones.
The other way that games are different from one another is by the amount of time it takes for the draw to end. Some of them last for the duration of a whole week, while some take only 5 minutes. Of course, there are also lotteries that last for a day or even twice daily. Again this depends on which casino you choose to gamble with.
These entertainments are similar in some aspects as well.
All of them utilize Provably-Fair technology to determine the winner of a lottery draw. This means that the winner will be picked randomly through the use of cryptographic methods. These methods are completely provable and can be easily tested for validity after the results have been published.
Another similarity between all of these games is the ability to purchase multiple tickets. This will increase your chances of winning, but will also cost you more. It is up to you to decide what kind of strategy you want to implement when playing.
What should I know?
There are different things you need to be aware of. Since the prize pool is generated by players purchasing tickets, it’s quite obvious that there is a correlation between prize amount and chances for winning. The second thing you need to know talks about the way the casino has implemented the game.
This is important because a small percentage of every purchased ticket goes instantly to the casino, while the remainder goes in the prize pool as potential winnings. Casinos usually express the amount of “fees” placed on the tickets in the same screen where you can buy them. This means that the information should be available and if it isn’t please be careful.
What is the best choice?
When talking about Bitcoin Lottery it’s purely a matter of taste in games. Some people don’t like these types of raffles, while others love them! The industry in the fiat economy is a big one, so it makes complete sense that we would see the same behavior in the crypto world.
With this being said, you want to find a website with a high RTP value (return to player), since this means that the fees for buying BTC lottery tickets are low. You also need to make a decision on how long you want raffle to last.
More people join into raffles if they last longer since the opportunity for joining is readily available. Depending on your preferences you might want to opt in for daily draws. In my opinion, these BTC raffles are the best ones, since they allow just enough time to raise a nice prize, but not too big of a prize. Having a large prize lowers your chances of winning.
This means that I have a relatively healthy chance of winning the lottery with a single ticket. Some people like to dominate by purchasing a lot of tickets, but that’s not for me. I like to keep on the safe side.
In summary, the only thing that really matters is whether you want to play the game and what is the amount of RTP offered by the casino. Remember high RTP is good for you with Bitcoin Lottery.
Good luck out there!