How Do You Rank and Review Bitcoin Lotteries?
The things we consider include the site’s reputation, what’s the maximum win they pay out, and how easy it is to gamble at the site.
The big draw of lotteries obviously is that you can win a lot with a small bet. This means that to be a top lottery site the maximum payout needs to be high. Most lottery sites are a bit too stingy for our liking, only paying out wins up to 5-10 BTC. We’ve excluded these sites and only recommend lotteries that have enough liquidity behind them to pay out wins of at least 20 bitcoins.
A lottery site’s reputation is also something to consider. We check the largest cryptocurrency forums and communities for real players’ opinions on each website. This is enlightening, as it quickly becomes evident that gamblers love some lotteries and hate others with a passion.
Last but not least, we look at other stuff such as how easy it is to play at the site and if it offers any bonuses.
What Kind of Lotto Games Can I play With BTC?
BTC lotto games come in three flavors: dice, keno and prize draws.
The most popular type of bitcoin lotteries are the so-called “dice games.” They are, in a way, instant lotteries, where you set the odds of your winning: the lower the odds, the higher your potential payout. After setting the odds, you choose how much to wager, and a click of a button shows you if you won or lost.
You can also play keno, which is a classic lotto game. Pick your numbers and see how many of them match randomly drawn numbers. The more matches, the more you win. You can play keno as a simulated game or with live dealers at a live dealer casino.
Last but not least many bitcoin-accepting sites have random prize draws. The biggest one is Bitcasino’s lottery. It has daily, weekly and monthly lotto draws. What makes these draws unique is that somebody has to win (there is going to be one winning ticket). This is different from the you-pick-em style games, where it’s possible that nobody picks the winning numbers.
What is the Best Bitcoin Lottery?
The best one is either Prime Dice or Betcoin depending on your exact needs.
It’s easy to recommend two bitcoin lotteries over any others: Betcoin and Prime Dice.
Prime Dice is your choice if you want a simple lottery game and nothing else. Go to the site and start gambling right away. The game is so simple, as is depositing and cashing out, that you’ll be playing in seconds.
Betcoin is the top choice for the best lottery site of 2017 if you also would like to play other games. Betcoin has a lottery game, but also every other form of gambling. While not playing the site’s instant lottery, you can also enjoy every other gambling game under the sun: roulette, blackjack and other casino games, slots and even sports betting.
Can I Play Lottery in Litecoin, Monero, Ethereum or other altcoins?
Yes. You have a couple of options for altcoin-accepting lotteries.
Finding a pure-bred altcoin lottery game is more challenging than you might imagine, considering that there’s an endless supply of BTC lotteries. When you finally do find one, they tend to be not very good with the most common problem being insufficient liquidity (fancy way of saying “small payouts”).
There’s a way around this though. You can play at Fortune Jack or Betcoin. Both of these multi-currency casinos have a good selection of lottery games.
Can I Play a Free BTC Lottery / Find a Lottery Game With a Faucet?
Yes you can. If you’re willing to play “dice-style” lotteries, then playing for free with a faucet is not a problem.
You can play free bitcoin lotteries. Just be prepared that the amounts you play with are tiny, typically a hundred or two satoshis (satoshi being a hundredth of a millionth BTC aka very little money).
The way to get your free bitcoin lotteries going is to head over to a dice site with a faucet. Dice sites have lottery-style games that for some weird reason are called dice games instead of lotteries. Faucet, on the other hand, is a slang term for a system, where you receive free money from the site’s owner as a way of getting you to play at the site (so the free cash works as a type of advertisement).
Out of all the different lottery sites with a faucet, I recommend Prime Dice. Whenever your account is empty, aka you’re broke, you can claim 150 satoshis by clicking on “Faucet” (you’ll find it from the top menu of Prime Dice).
When you get your free bitcoin fractions from Prime Dice, you can then wager them on the site’s lottery game. Set your odds and click on “roll dice.” If you win, great. If you don’t win, keep claiming your 150 satoshis again and again from Prime Dice play the free lottery until you hit a winning streak.
Are BTC Lottery Pools (syndicates) Available?
No. They are not needed, as you can play lotteries where you set your own odds.
A lottery pool, or syndicate as it’s more often called in the UK, is a lottery strategy where a group of lottery players pool their funds and buy a bunch of tickets for a shared stake of the potential profit.
Essentially, pools/syndicates are a balancing act between increasing your odds of winning while lowering how much you can win. For example, 10 people could buy 1 ticket each. Or, for a 10 times higher chance of winning they could pool their money, buy 10 tickets and agree that everybody is entitled to 1/10th of what they’ll win. Buying tickets together increases the chances of winning while reducing the amount each player in the syndicate can win.
When it comes to bitcoin lotteries, pools like these are unnecessary. There are plenty of BTC lottery and dice games where you can set your own odds of winning. Because you set your own odds, you don’t need to be a part of a syndicate. If you wish to play with higher odds (and lower potential winnings), just set the winning odds higher on the game you’re playing.
What Software Runs Bitcoin Lotteries?
Each bitcoin lottery site has its own software. The games are verifiably fair.
The more experienced online gamblers know that seemingly different gambling websites often run on the same software. This means that while two gaming sites might look completely different on the surface, gambling at them is identical.
Bitcoin-accepting lottery sites rarely, if ever, run the same software. Each of them has their unique look and feel, and more importantly, their own games giving you a unique gambling experience no matter where you play.
Of course, when sites have games they made, the question of fairness comes up – how would you know that the lottery site isn’t a scam? This is why all legit bitcoin lottery sites have verifiably fair games.
Are There Verifiably Fair Lotteries?
Yes there are. In fact, they should be the only kind of bitcoin lotteries you play.
Verifiably fair games let you check afterward that the results of the game were indeed random and that neither you nor the lottery website could know the results beforehand. Each site has its technique for you to check the results, but you’ll find it usually by following a link in the site’s footer that says something like “fairness.”
I recommend against playing lottery-style games at any site that doesn’t have provably fair games. There’s so many reputable dice and lottery game operators with fair games, that you have no reason to play at any potentially shadier site.
Are Bitcoin Lotteries Legal?
Yes they are. Although, when it comes to online gambling laws, few things are crystal clear.
I’m by no means an expert in online gambling laws, but I can still say that for most of you playing online bitcoin lotteries is legal.
Why it’s legal comes down to two things. First of all, many countries don’t consider bitcoins or other cryptocurrencies (“altcoins”) currencies at all. This makes playing bitcoin lotteries the same as playing play-money lotteries, which, of course, is legal.
The other legal bit is that most bitcoin lottery sites have a gambling license from a jurisdiction where taking bets (in Bitcoin, Litecoin or whatever) is perfectly legal.
The only case where bitcoin lotteries are illegal is if you’re playing in a country that explicitly outlaws them. In that case, you can either stop gambling or not care. The latter approach is common among cryptocurrency users, as we tend to believe that what we do with our money is our business and not the government’s.