In this article, we will discuss the best crypto lottery in Australia to win a significant weekly prize pool.
Luck is something we all have an opinion about. Some think that they are lucky and some find them not-so-lucky.
While all of us can have different opinions on luck but something that is not different is the excitement to test it out.
Prizes, quizzes, and lotteries excite everyone equally and this is where Web3 way of lotteries come into the picture.
Best Crypto Lottery Australia – Top Sites For Cryptocurrency Lottery
Moving from the unfair hands of centralized and regulated lottery systems to an open, transparent, and democratic way of conducting lotteries, crypto lotteries are changing the landscape of how we bet on our luck.
In this crypto lottery Australia article, we’ll go through some of the most popular crypto lotteries of Australia and discuss the various technical and non-technical aspects of crypto lotteries
Answering all your major queries of regulation, functioning, and steps to operate in this vast and open network of blockchain crypto lotteries.
The Best Crypto Lotteries Australia List
Even though a large number of crypto lotteries are available on the internet, in this article we will cover three of the most famous crypto lotteries Australia to discuss whether they are legitimate and regulated?
If yes, by whom? And How to get started with them. The three best crypto lottery Australia covered by us are:
- Lucky Block
- Bitcoin Lotto
Best Crypto Lotteries Australia Reviewed
In this segment, we will provide a comprehensive and crisp review of some of the best crypto lotteries in Australia to make sure that you can understand how these lotteries function and can you win actual money with them?
So knowing all this, let’s dive deep into the world of crypto lotteries Australia.
Lucky Block is a new project that was launched in 2022 only and the way it has hit the boom is an astonishing sight to see.
The lucky block is a blockchain lottery project that is based on the Binance smart chain technology to deliver a fair, decentralized, and larger scope of winning a prize with it.
Presently being in the registry phase, Lucky Block is currently issuing its coins that have a substantial value.
Lucky Block promises all the coin holders to get an assured price when the lottery starts moving.
Lucky Block comes with an ambition to decentralize the monopoly of big players in the lottery arena and hand this authority to the masses with the help of blockchain technology.
Lucky Block aims to deliver ultimate transparency and fairness in a global lottery where all the players can achieve either one thing or the other.
Lucky Block has a collaboration with a London-based media company that adds an extra layer to their credibility.
Lucky Block has a wide spectrum of projects waiting to be deployed and their plan to create a space in the upcoming Metaverse might sound too astounding for now, but they are reasonably possible.
Bitcoin Lotto is the first crypto, or better say Bitcoin-based blockchain lottery, that has been in place for years.
Bitcoin Lotto is based on the 6-digit lottery number that is allotted to you once you become a part of their ‘Lottoland’.
This 6-digit lottery number is then matched with a random number fetched during the final lottery and the blockchain technology will make sure that the number fetched during the lucky draw remains completely random without any favoritism.
You can also pick up six numbers as per your choice and then wait for the result day to know whether you have hit the jackpot or not.
Bitcoin Lotto also promises to increase the rewarded Bitcoins by a margin on a regular basis.
Their simple-to-use mechanism and the wide coverage of countries make it a great choice for those who want to try out their luck.
You do not need to be a crypto or Bitcoin buff to start playing Bitcoin Lotto as it is as simple as playing a video game online.
Other than the crypto lottery, Bitcoin Lotto also provides various other gambling games e.g. scratch cards, instant win games, and casino games in which the reward money can go as high as one million USD.
So if you are planning to scale your crypto trading to actual gaming, Bitcoin Lotto could be the right choice for you.
If you love your money more than the thrill of risking it all, PoolTogether of our list of best crypto lottery Australia will fascinate you for sure.
PoolTogether is a lossless lottery game based on the Ethereum blockchain that encourages its users to save their money with them and while saving they have a chance to win a mega prize in their lotteries and even if they will not win anything, 100% of their total money will be given back.
Sounds exciting? Well, you must be wondering what kind of lottery it is where a person can get back his money.
To quench your curiosity PoolTogether is a crypto-powered lottery that is based on premium bonds in which case both the parties are earning when they put their money into these savings.
The process to participate in the PoolTogether is quite simple, all you have to do is to sign up on their website and deposit some funds to enter a lottery.
With prizes being awarded every day, you might have to wait for a while for your lucky draw to be fetched and once the time comes, you’d be able to find out whether have you won a prize or not
If you have won a prize then congratulations but even if you won nothing, you can take out all of your money back.
Crypto Lotteries Australia Explained
Crypto Lotteries work on the basic principle of the traditional lottery system where a random number is being drawn from a large pool of allotted numbers and the person who was allotted that number is declared as the winner.
Crypto lotteries are not too different as well, other than the fact that all the entries are saved in a decentralized blockchain network which is under the direct scrutiny of a vast public ledger.
This public nature of lottery withdrawal adds additional layers of credibility to modern-day online crypto lotteries.
Other transactional details are also saved in a wide network of blockchain, making it indestructible forever.
How Does A Crypto Lottery Work?
Crypto lotteries are based on traditional lottery mechanisms. However, a few changes that blockchain technology has brought in the working of these online lotteries are the factor of extreme transparency.
From auto payment of lottery tickets to a clear cut, predetermined rules of the lottery are registered in a public crypto ledger instead of closed company documents.
The randomly generated numbers are also saved in the blockchain, along with other necessary transactional details.
One of the most critical parts of using a crypto lottery is the automatic prize distribution without any external factor of favoritism.
Decentralized Crypto Lottery
While defining decentralized crypto lottery we must make sure to be aware of the term ‘Decentralized’ as the name suggests, decentralized crypto lotteries do not have a central authority or regulation which controls the process of the lotteries and no one person or a single organization has the right to modify any lottery results for their personal gain.
Decentralized crypto lotteries use a blockchain public ledger that is maintained by a number of widespread computers with no changes that can be made in the ledger without the verification of the majority of available connections present in the same network.
This is how the democracy in a decentralized crypto lottery is maintained.
Centralized Crypto Lottery
On the contrary, to decentralized crypto lotteries, centralized crypto lotteries are handled and maintained by one single person or one single organization who is the central authority when it comes to conducting the crypto lottery.
The authority to conduct, collect the fund, select the random number, and distribute the prize among the winners is done by a central authority and these actions are conducted by some terms and conditions which are pre-defined by the sole authority themselves.
The lack of public scrutiny and complete democratization of the lottery are some of the major disadvantages of centralized crypto lotteries.
Crypto Lottery via Premium Bonds
When it comes to gambling on lotteries, nothing can go better than gambling on a crypto lottery via premium bonds.
Being one of the safest methods in traditional gambling, premium bonds lotteries are not new but cryptocurrencies have made it more interesting than ever before.
The extremely volatile nature of cryptocurrencies worldwide allows the premium bonds to gain a better profit while staking the total funds on different crypto assets.
In the premium bonds crypto lottery, even if you lose the lottery, you do not lose the money that you saved with them, but if you win; you win.
This makes it sound like a pretty legitimate gambling option with too less of a risk. However, the prize pool is lower than other lotteries as well.
Are Bitcoin Lotteries Fair And Safe In Australia?
Well, now that you know quite a lot about how bitcoin lotteries work, it is obvious to feel excited to start with them, but before starting this question might hit you.
Are they even safe and fair in Australia? How to know whether they are not a trap?
To ease up things for you, there are a few suggestions we are mentioning in this best crypto lottery Australia article so that you can know whether the vendor you selected is a safe one.
Follow these steps to know whether your choice is safe or not:
- Make sure to use the most popular lottery websites rather than going for the new ones
- Do your research first before start putting your money in a lottery
- If the website looks fishy, avoid that lottery completely
- Red user reviews to know more about the services of the company
Are Cryptocurrency Lotteries Legal in Australia?
Bitcoin is the most prominent cryptocurrency available in the market.
The strong backing of huge capital is making it sure that Bitcoin is here to stay for a pretty long time.
Australian crypto traders invest in this secure blockchain currency with open hearts and the overall investment in Bitcoin from Australians is pretty high.
On the other hand, the Australian Government has not put any restriction on the transaction of any Bitcoin assets, making it completely legal to use Bitcoin for any legitimate transactions.
Using Bitcoins over the internet to purchase goods, services, and entertainment is a completely legitimate and common proceeding.
Using cryptocurrencies for gambling or crypto-based lotteries is not restricted in Australia, hence, they are legal in Australia.
How To Enter A Crypto Lottery
To start trying your luck in a crypto lottery, you do not need to be a crypto expert and hence anyone who is above the legal age for gambling in Australia can try his/her luck.
Here is a small guide on how you can start your lottery journey without going through any major hassle. To enter a crypto lottery, follow the steps mentioned down below.
Download Trust Wallet
To start your crypto lottery investment, you will be required to buy some tokens so that you can get your hands on your lottery ticket.
To buy some tokens, you need to download a crypto wallet to keep them. You can download Trust wallet from the Google Play Store or iOS App Store to start buying some cryptos for yourself.
Trust wallet is one of the best crypto wallets available in the market.
Swap BNB To Binance Smart Chain
After downloading the Trust wallet, you need to make sure to transfer some tokens so that you can enter into the lottery.
After buying your BNB tokens, click on Binance smart chain from the main menu of your wallet.
After that, put the number of tokens that you want to transfer to the Binance smart chain.
Once done, confirm the transactions and your BNB will be transferred to Binance Smart Chain.
Connect To PancakeSwap
Go to the DApp browser in your Trust wallet, search for PancakeSwap. Once you find the PancakeSwap, select the ‘Connect Wallet’ option and, after that, your wallet will be connected with the PancakeSwap.
Buy Lucky Block
Go to the PancakeSwap app from your wallet and enter Lucky Block Token in the search bar. Once found, enter the amount you want to stake and confirm the transaction.
Once the transaction will be completed, you can add LuckyBlock DApp to your Trust wallet for any future transactions.
Best Crypto Lottery Australia – Conclusion
The world is changing rapidly and so are our ways to earn, spend, and transact. The world is said to be entering a Metaverse, which is on the verge of making gigantic changes in the way we use the internet.
Amidst all this crypto lotteries are changing the gambling landscape as well, making it easier and more transparent for those who never thought that lotteries could be this reachable.
In this Best Crypto Lottery Australia Review, we tried our best to provide a detailed view of the different aspects of modern-day Crypto lotteries; we hope that this review will help you to make a smart decision when it comes to trying your luck in a decentralized crypto lottery system.