Press Release

What benefits does Megaltr.com offer over Traditional Lottery ?

Published

5 years ago

February 14, 2020

rolebitcoin

Basic disadvantages of the traditional lottery:

People cannot buy lottery tickets from other countries. This means that people can only buy lottery tickets where they live. If you want to buy lottery tickets from another country, you have to be there in person.
To buy a lottery ticket, buyers have to buy it directly at the ticket counter.
After buying the lottery ticket, you must safeguard it carefully.
To know if you won or not, you have to look up the result
Upon winning, you have to contact the rewarding office and fulfill some procedures to receive the prize.

Lottery Demand:

There is a great demand for lottery tickets, especially the prestigious lottery prizes with attractive jackpot such as Megamillions, Powerball, (US) EuroJackpot, etc.

Why buy lottery tickets:

Check their luck
Charity (help the lottery ticket vendors to have more earnings)

2. Source of fund The source of funds for lottery tickets is disposable income, which has no significant effect on people’s lives in case of losses.

How often people usually buy a lottery ticket:

Occasionally, when the opportunity presents itself (come across a vendor)
Periodically, to check their luck (long-term lottery players)

Introduction to the rules of the prestigious lottery prizes of countries around the world, which megaltr.com offers:

Megaltr.com selects lottery prizes based on randomness, transparency, prestige, the structure of the prize, the number of players, etc. You can check details and link to each lottery game on Megaltr.com; for example, for Megamillions (USA), the link to the home page of this lottery game is https://www.megamillions.com,
The information published on the home page for each lottery game includes prize structure, ticket cost, drawing date, etc. Megaltr.com offers the same structure and prizes as the original game. However, Jackpot prize on megaltr.com is fixed as announced on the home page of MegaLTR.com
Players will have two options: buy tickets using USD (fiat money) or using MLR tokens (Cryptocurrency) at Megaltr.com
For example, the Megamillions prize is drawn on Tuesday each week, and the jackpot is USD 163 million (US Lottery). The MegaLTR Jackpot prize will be USD 40 million.
If you buy a ticket at the ticket counters listed on its homepage, the ticket costs $2. Upon winning, you will receive USD 40 million, minus required taxes.
If you buy tickets on megaltr.com, the ticket price and winning money will be paid with MLR tokens (+ gas on Ethereum network). For example:
- Exchange rate: 1 MLR = 0.0039ETH; 1 ETH = 180 USD. The cost of gas to transact on ETH blockchain when a person buys the ticket is 0.005556. This fee is paid to the ETH network. The total cost for the ticket would be 0.0039 MLR + 0.005556 ETH = 2.84 MLR + 0.005556 ETH. If the person wins a special prize, he/she will receive (40,000,000 : 180): 0.0039 = 56,980,057 MLR before taxes.
- For example, the lottery winning tax is 20% in France, so a French winner will be paid 56,980,057 MLR x 80% = 45,584,046 MLR. The French government will collect taxes. The winnings will be credited to the winner’s wallet on megaltr.com within 24 hours; the megaltr.com tax is retained and paid to the French government within 60 days.
If the players have MLR or ETH in their ER20 wallets, they can withdraw MLR or ETH at any time, in any amount, provided that the account was successfully KYC’d. KYC is needed to ensure that each person has only one account on megaltr.com and megaltr.com has information about his/her nationality in order to calculate the full amount of tax when he/she wins jackpots.
A successful KYC account will be rewarded 4 USD by megaltr.com and paid in MLR tokens.
For all the lottery prizes in the world, megaltr.com will, in turn, evaluate the randomness, transparency, and attractiveness of each prize, as well as total interested participants. Megaltr.com will list that prize on their homepage to sell tickets and pay out the prizes. The list of lottery prizes in the world, which has been uploaded and is available for buying tickets and getting high prizes, is found by using the link: megaltr.com/list.
The exchange rate between MLR/ETH and ETH/USD used on megaltr.com as the basis for exchanging MLR for ticket buyers and payment of tickets. Winnings will be paid out using the actual rate on the exchanges that MLR and ETH that is listed (average actual price).
Note: To buy tickets on megaltr.com, players must have two types of cryptocurrencies: MLR to pay the ticket, and ETH to pay gas fees collected by the Ethereum network. Specific types of gas charges are:
- Fee for exchanging ETH to MLR.
- Ticketing fee purchased on the ETH network.
- The gas fee that the ETH network collects is not fixed, but fluctuates from time to time, as determined by the ethersan.io network.

The currency used for transaction and paying prizes for lottery prizes in the world, which are put up by megaltr.com to sell tickets and pay prizes is Cryptocurrency or MLR:

Is the cryptocurrency running on the ethereum network (etherscan.io) code MLR (Token ER20 MLR)
Total supply: 1,000,000,000 MLR (one billion MLR)

Allocation:
- Fund allocated for prizes: 999,000,000 MLR (nine hundred and ninety-nine million MLR)
- – Offer for sale: 1,000,000 MLR (one million MLR)
Duration:
- Expectedly start on 11/2019 and ends at 31/12/2019
Location:
- IEO on an exchange, which will be announced in November 2019

3. Starting price: 1 MLR = 0.0059 ETH

4. ETH collected from the offering phase and MLR which had not been sold in the campaign will be held and used for paying out winning prizes.

5. The purpose of selling the quantity of 1,000,000 MLR is to ensure that MLR token is listed on at least one exchange and to obtain the exchange rate on an actual exchange.

6. The demand and supply of MLR tokens on the exchange are from:

- IEO buyers
- MLR holders, not using MLR to buy tickets
- Lottery winners
- Refer bonus participants (exchanging bonus MLR tokens for another token)

7. MLR will be listed on two top 50 exchanges by January 2020. Details will be announced in December 2019.

Revenue allocation of ticket sales:

5% for MegaLTR charity fund
10% for a referral bonus
10% to increase jackpot fund
10% for MegaLTR.com operating costs
65% for MegaLTR bonus fund

Goals of MegaLTR.com

Help people check their luck; they can buy tickets anytime and from anywhere for the opportunity to win the huge prizes
Introduce another use case of cryptocurrency to the public
Help create more jobs and more income (referral bonus program)
Build a charity fund
Help governments collect more taxes
Create a valuable asset: the MLR token, a tool for people to speculate and invest in. The MLR token has a limit of 1 billion; it can be obtained only by winning lottery prizes and has a starting point of 1 million MLR initially on exchanges.