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Bitcoin Lotto Product Rules
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 22:30 (SAST). 3. The top tier prize is seeded at 2,220 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 21:30 (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.za/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, with a humungous heap of Bitcoin as the top prize.
To help you bet on this fantastic new game, here’s our Product Rules 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 R106,714,957*!
*indicative value. subject to exchange rate and Bitcoin values on the day.
How does betting on Bitcoin Lotto work?
When you place a fixed odd Bitcoin Lotto bet at Lottoland SA you are betting on the outcome of the six main numbers drawn from the Spanish lottery Bonoloto. 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 bet on Bitcoin Lotto at Lottoland?
Placing a bet on the outcome of 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 automaticall select your numbers. Once you have chosen your numbers, press “Submit”. 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 Bitcoin Lotto?
The cost of a bet is currently R55. The price may be adjusted in line with the EUR value of the bitcoin for each draw.
What are the odds of winning the payout?
The odds of winning the payout (starting from 1000 BTC) are 1 in 13,983,816, ten times better than the odds of EuroMillions.
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 | ZAR (subject to fluctuations) |
|---|---|---|---|
| Match 6 numbers | 1 in 13,983,816 | from 1000 BTC | 106,714,957 ZAR |
| Match 5 numbers | 1 in 55,492 | 1 BTC | 106,714 ZAR |
| Match 4 numbers | 1 in 1,033 | 50 EUR | |
| Match 3 numbers | 1 in 56.7 | 5 EUR | |
| Match 2 numbers | 1 in 7.6 | 1.50 EUR |
Will I be paid in Bitcoins or cash?
It’s entirely your choice!
What do I do if I win?
If your account has been verified, simply proceed to your account and withdraw your winnings. If your account has not been verified, you will first need to provide proof of ID and proof of address. Once this has been confirmed, you will be able to withdraw your winnings.
Is the payout guaranteed? How do I know?
At Lottoland we can guarantee you will be paid out on your winnings - regardless of the payout amount.
We are registered with and regulated by the Western Cape Racing and Gambling Board, under bookmaker license number 10185706. In order for us to retain these licences we have to prove that we are able to make the required payouts to our players should they win and that we have the correct procedures in place to guarantee this.
