PowerBalt: Blockchain-based Lottery System For The Official U.S. PowerBall
The online gambling and betting industry has seen consistent growth over the last decade. By the end of 2020, industry reports suggest that the online gambling market will be worth around $60 billion and will continue to grow at 11.5% up to 2027.
The online gambling industry presents some key drivers like easy and quick accessibility as well as more convenience for the players. However, some scam players bring a bad image to the overall industry keeping away legit players from participating.
Thanks to the arrival of the blockchain technology as the industry is looking forward to some healthy developments ahead. The apparent blockchain benefits of better security and higher trust bring legitimacy and accountability among players.
Bridging the gap between the Gambling Industry and the Blockchain Tech
PowerBalt is one such blockchain-based lottery system that leverages the official US PowerBall draw held twice a week. The PowerBalt project draws trust from the official US PowerBalt lottery as the winners are only selected on the numbers drawn at the official event.
With the trust of the official draw, the odds of winning on the PowerBalt project are 7 times higher than the official draw. Similarly, the rewards offered by PowerBalt are also 70 times higher than the official event.
The PowerBalt blockchain platform has got its own native cryptocurrency PWRB and all bets on the platform are placed in this cryptocurrency. The automated payouts also happen in the same currency.
The PowerBalt blockchain platform allows users to place bets on one, two, or three winning numbers. The three-number bets supposedly provide greater rewards of up to 350,000%.
Benefits Associated With the PWRB Cryptocurrency
Upon every bet that is placed, the associated coins are burnt on the PowerBalt blockchain. Unlike other online gambling, PowerBalt doesn’t compromise on the authenticity of the winner.
The benefit of betting with the PowerBalt blockchain is that it doesn’t interfere with the draw. The draw is conducted only by the official US PowerBall. The PowerBalt blockchain only serves as a medium while automating and recording the process to ensure that there’s no risk or fraud in the process of selling tickets or distributing rewards so that the players’ trust is restored.
Using the PWRB cryptocurrency, users from across the world can participate. PWRB streamlines the entire process from buying tickets to rewards distribution. Participating in the lottery just requires users to pick their numbers inside the wallet and make the purchase. After the PowerBall draw, the reward distribution happens automatically among the winners.
Don’t want to purchase lottery tickets? The PWRB cryptocurrency offers another alternative to users to earn staking rewards and fetch around 300% ROI in the early days.
Collaboration With Flitsnode to Reach Larger Audience
In order to reach a larger audience and expand its footprint further before the PWRB exchange listing, PowerBalt has joined hands with Flitsnode to conduct a presale.
The presale is currently ongoing with the first phase already concluded last week with Coin Price 9000 Sats. The second phase is between June 18 to June 25 at a coin price of 9500 Sats. The third phase will happen between June 25 to July 2 at a coin price of 10,000 Sats.
Overall, a maximum of 25000 coins has been allocated in each phase. Currently, one can purchase the PWRB cryptocurrency only on the Flits platform.
The PWRB cryptocurrency is likely to play a major role in bringing more legitimate players to participate in the online gambling and betting platforms. Besides, it will also bridge the gap between the gambling world and the blockchain industry.