Source: ETHNews, originally published on .
PrimeBall brings transparency to the online lottery with Ethereum blockchain powered platform.
Lotteries are one of the most participated “luck games” in the world. With so many people buying the tickets on a regular basis from a handful of players, the companies working in the sector tend to make a huge fortune. It is estimated that they make profits in tune of over 45% from ticket sales, which can be even more due to the lack of transparency, which also raises concerns about the fairness of the whole exercise altogether.
PrimeBall is offering an entirely new open and decentralized approach to the creation of jackpots. Leveraging the power of blockchain technology, all transactions on the network are securely recorded on the public ledger and are always available to the players for review. Anyone in the network can view the Smart-Contract and view the jackpot sum.
The Raffle doesn’t offer one of the highest jackpot prize potentials like many other lotteries in the world, but instead offers draws every day of the week with a minimum number of winners in each draw. The platform uses Ethereum transactions in place of raffle tickets as it would be in the traditional lottery setting. Unlike other lottery platforms, PrimeBall is managed autonomously by Smart-Contract, which ensures 100% transparency of the platform, the anonymity of participants and a secure ecosystem.
How does PrimeBall lottery work and why many people love it?
In the PrimeBall lottery ecosystem, there are no lottery tickets or coins or tokens involved. Instead, the platform allows the player to just submit a transaction through Mist or Metamask on the PrimeBall website, PrimeBall.io. Every transaction in the network is being recorded on the blockchain and subsequently submitted to the Smart-Contract. The prize pool of the lottery is therefore guaranteed by Smart-Contract, away from any form of human involvement.
When the round is over, and a minimum of three winners is determined unless there is a Jackpot hit, in which case it’s a Jackpot Winner! The Lucky Winners will receive the Ether they WON in their wallet and will get congratulations pop-up once they are back on the PrimeBall.io website. Winning transactions will also be posted at PrimeBall.io results page.
How does the Winners money get distributed?
In the PrimeBall lottery, there are three types of winners and two scenarios that are mutually exclusive:
Scenario One: No Jackpot winner
In this case, the main winner is the luckiest and gets around 40% of current draw funds. On the other hand, the regular winners will receive approximately 20% of all the draw funds in various amounts.
Scenario Two: There is a Jackpot Winner!
The winner will receive about 85% of the current draw and 90% of the Jackpot. Yes, that’s right, Smart-Contract does keep some money in the Pot to make sure Jackpot is always there.
Finally, there are some fees to keep the project running. The cost of operations fee is under 4.6% to generate the funds necessary to keep the game running. The marketing fees are under 5%, which will be used to make sure PrimeBall lottery has as much exposure to many potential participants around the world and the jackpot keeps getting big. Lastly, there are around 2-3% fees that go to Affiliates and Donations for worthy courses.
PrimeBall has designated 16 draws per day where a participant has a maximum of 13 tickets per draw for every single wallet used to furnish a purchase. This will keep the game fair.
The payouts and Jackpots are controlled by Smart Contracts, which makes it impossible for anyone other than the winner to receive the funds and the only way they can get it is by fairly winning the draw.
Did you know about an additional way to earn more?
The lottery is not the only way a participant can make money on the PrimeBall. They can also participate in the referral program and share their unique referral link with others. When somebody plays using the referral link, the referrer gets a small payout, unless they win. In which case, a portion of the prize will be shared with the referrer.
Enough said, willing participants can just sign up at the PrimeBall website, PrimeBall.io, and the Smart-Contract will generate a referral link for your wallet. Following a successful registration, your referral bonus earnings are automatically submitted to the wallet you specify when joining the team!
For more information, visit https://primeball.io/
Also get in touch with the get in touch with PrimeBall via Telegram: https://t.me/PrimeBallChat / https://t.me/primeball(also available in Spanish, Portuguese, Chinese, Korean and Japanese). On Facebook at https://www.facebook.com/primaballraffle
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