Bitcoins have generated a lot of excitement over the last few years and it’s clear that they are here to stay. One of the ways this new digital currency is being celebrated is through the launch of Bitcoin Lotteries. These lotteries have yet to be offered by major state lottery organisations, but they are being offered by many online lottery vendors, the biggest of which is Lotto-vm.
Lotto-vm launched something known as the Bitcoin Jackpot at the beginning of 2018 and this lottery has since taken the gambling world by storm, getting digital currency fans excited and also providing something new for the lottery community.
The Bitcoin Jackpot is not actually drawn like other lotteries are, but is instead based on the numbers drawn on the Bonoloto, which is a major Spanish national lottery that is organised by the Spanish state lottery.
What is the Bitcoin Jackpot?
The Bitcoin Jackpot is offered 6 days a week and the draw takes place at 9:30pm CET. It is organised by Lotto-vm and they also provide the jackpot, which is 1,000 Bitcoins. The fluctuating nature of this cryptocurrency means that the exact value of this jackpot changes every day.
Bitcoin Jackpot tickets cost $3/£3 each and players can buy as many of these as they want, with each one providing them with a reasonable chance of becoming a cryptocurrency millionaire.
Each Bitcoin Jackpot ticket consists of just 6 numbers between 1 and 49 and as mentioned above it is based on the numbers drawn on the Bonoloto. However, players will only win money based on the Bitcoin Jackpot and not the Bonoloto, and if they want to win money on this Spanish lottery then they will need to buy a separate ticket.
Bitcoin Jackpot Jackpots and Records
The Bitcoin Jackpot grand prize is 1,000 Bitcoins, the value of which is typically in the millions, and is generally above €10 million. There are also prizes paid out to players who get anywhere from 2 numbers to 5 numbers, with all 6 numbers securing the jackpot win.
The grand prize on the Bitcoin Jackpot is always a fixed amount of Bitcoins and this does not change at all. There are a varied number of smaller prizes on offer, returning everything from enough money to buy another ticket, to a sizeable amount that is only eclipsed by the jackpot itself.
Bitcoin Jackpot Odds
The Bitcoin Jackpot grand prize offers some very respectable jackpot odds of 1 in 13.9 million, and there are even more accessible odds for the lower tier prizes. In fact, every player has a 1 in 8 chance of winning the smallest prize, which occurs when just two numbers are matched. The Bitcoin Jackpot odds are similar to several popular European lotteries, and they are considerably better than the odds offered by major lotteries like Powerball, EuroMillions and more.
For a full list of odds on the Bitcoin Jackpot see below:
Jackpot (6 numbers) = 1 in 13.983.816
Second Prize (5 numbers) = 1 in 55.492
Third Prize (4 numbers) = 1 in 1.033
Fourth Prize (3 numbers) = 1 in 57
Fifth Prize (2 numbers) = 1 in 8