Lotteries are one of the oldest and most socially accepted forms of gambling. But we have not seen it as popular in the crypto casino industry, but that might change with the grand jackpot prize on Rollbit lottery approaching $1 million.
Sure, we have seen some lottery systems implemented throughout the casino industry, but they have yet to prove as unique or rewarding as the one offered by Rollbit. Recognized as one of the most innovative casinos in the space, Rollbit has found a way to put its spin on this classic gambling category.
How to enter the Rollbit lottery
To enter, players must stake the platforms’ native gambling token, RLB or Rollbit Coin. Once players have staked their RLB and applied a multiplier, players can not withdraw their RLB. The staked RLB will then be held until the lottery results are complete.
The lottery takes place after 100 BTC blocks are mined. With an average block mining rate of 10 minutes, lotteries take place every 16 hours roughly.
The lottery winnings will be split among 100 players or teams, with one player having the chance to win up to 100% of the current jackpot value. The current jackpot value at the time of writing is close to $1 million.
Steps to enter:
Step 1: Select an amount of RLB to stake. The more you stake, the higher the probability to win large prizes. Your winnings will be proportionate to your staked amount.
Step 2: Choose a conditional multiplier to increase your staked amount. You can choose between rank, wager, and Rollbot. Multiply your staked amount with every new rank your reach, how much you wager, or how rare your Rollbot NFT ear trait is.
Step 3: Join or create a team to increase your staked amount and thus your potential prizes.
Step 4: Wait for the 100 blocks to be mined and hope you hit the jackpot, but with 100 winners to be announced, your time to shine is sure to come.
Rollbit lottery rollover increases the jackpot
The last draw of each lottery is for the jackpot. If the spin lands on the player’s name, they can walk away with the jackpot. If the spin lands on the skull and crossbones, the player is rewarded the remainder of the lottery prize pool, and the jackpot balance is rolled over.
The lottery and jackpot values are accumulated from the total profits of Rollbit over the course of the lottery. 10% of profits generated are put towards the lottery, with 70% going to the lottery and 30% going to the jackpot. There is a 10% chance that a player can win between 2% and 100% of the jackpot total. Overall, there is so much fun and innovation surrounding the Rollbit lottery, and with a jackpot approaching $1 million, it’s worth a shot.