Hugely popular LTC lottery sites offer players the chance to play lottery games, which are typically split into Bingo and Keno. Alternatively, players may prefer traditional lottery variations where players select numbers that they hope will match the random lottery draw.
In this article, we have put together a list of the best Litecoin lottery casinos. So, if you are new to Litecoin and lotteries, read on to find out more.
Top Litecoin Lottery Sites List (November 2022)
What is Litecoin?
LTC or Litecoin is a cryptocurrency that was created by forking Bitcoin’s source code. The idea was to make a Bitcoin-comparable crypto faster and in greater volume.
Apart from block time and token supply, Litecoin differs from BTC in terms of initial distribution and hashtag algorithm. Lately, many US lottery sites have begun accepting deposits by Litecoin.
Litecoin Lottery games
Renowned for its popularity, the simplicity and fun, there are many Bingo games that players can choose from. Most center around the concept of players matching numbers to their predetermined set of numbers.
This traditional lottery games allocates players with a set of numbers ranging between 30-80 numbers in total. Players select their numbers and their correct guesses are rewarded with the prize.
There are several variations of LTC lotteries, such as US Powerball, Lucky for Life, Cash4Life and Mega Millions. Each differs in terms of the states in which they are available, their odds, jackpot amount and their size and scope.
How do LTC lotteries work?
Litecoin lotteries work the same way as the traditional ones. In both cases, the online lottery picks a random number, and the ticket with the number closest to the former wins a prize. However, LTC lotteries differ from standard online lotteries in many ways.
Trust and fairness are critical components of all online lotteries. In fact, traditional lottery sites struggle to harbor trust between the operators and the players. Instead, LTC lottery sites solve this problem with blockchains, which are public yet secure blocks of data.
Generally, 50% of ticket sales contribute to the prize pool which later forms the jackpot. However, at the time of disbursement, many players don’t know where all this money is going, and this leads to mistrust.
LTC lottery sites solve this problem because the total amount arising from ticket sales is visible on the digital ledger. Smart contracts on LTC lottery sites guarantee they award the correct amount of money to the right winner at the right moment. Indeed, all payments on these platforms are safe.
These are self-executing chunks of code that make payments based on the rules in the contract. Therefore, when an individual wins a Litecoin lottery, he will receive his prize without human intervention.
Since every node maintains a copy of the blockchain ledger, it’s impossible to tamper with the results of LTC sites.
Also, blockchains disallow manual intervention because of the global distribution of their payment processes. This eliminates the likelihood of a potential scam.
Pros and cons of using LTC in a lottery
LTC lotteries work the same way as Powerball lotteries. The only difference is that in the former you receive cryptocurrencies and not cash.
Many bettors believe that getting a lottery jackpot is impossible. This thinking is changing because crypto lotteries are expanding this industry. Consequently, there are more lottery prizes available, thanks to LTC and other crypto sites.
Take a look at the many advantages of playing at lottery sites that accept Litecoin.
- All withdrawals are fast and hassle-free. An LTC lottery winner receives his prize just a few minutes after the lottery is drawn.
- LTC may reach $10,000 between 2024 and 2026. Given its current value, that’s a significant jump indeed. That said, LTC lotteries have a few disadvantages.
- LTC is highly volatile and may reach rock-bottom levels without any logic.
- Unlike traditional lotteries, there are very few websites that accept LTC.
Are LTC lotteries safe?
Yes, most lotteries that accept LTC are safe because they work on blockchain technology which is a digital ledge free from manual intervention.
Do Litecoin lotteries work with other gateways?
Some websites that accept LTC work with other payment providers, such as credit and debit cards, e-wallets, BTC, and prepaid vouchers.