Lottery will forever be a staple betting activity for all kinds of people perhaps across the globe. It’s easy and simple, and it offers massive jackpots that are absolutely too hard to resist. Then Bitcoin lottery came, and the game just got even better.
YABTCL, which stands for Yet Another Bitcoin Lottery, was among the first few lottery websites on a Bitcoin platform. It was launched in 2012 by three software engineers who prefer to be anonymous.
I talked with one of them and explored more about its provably fair lottery system that promises the greatest jackpots and the lowest house fee.
It’s always interesting to hear the story behind the launch of a Bitcoin gambling website. What was YABTCL’s?
We’ve always had doubts about the transparency of lottery draws in our country. We simply have to trust the company that makes the auditing of the draws. So, the idea of a lottery where anyone can verify the integrity of the results come to us when one of us was waiting in the line to buy national lottery tickets and he thought that he would play more if he could make the audits himself, and we started brainstorming the details of the first lottery that would allow any person to verify the results.
There are other brands already in the same market. What makes your game unique, though?
The main difference between other lotteries and ours is that we are provably fair for the players and the investors. Also our big jackpot has 100+ BTC. We also proved that we have this amount in our cold wallet; the proof is in our help page.
If an average lottery enthusiast is to come across YABTCL, what are the qualities or features you would want to initially let them understand about free lottery Bitcoin?
Transparent draws through a provably fair draw. Players can join tickets with other players around the world to have greater chances of winning, and can earn revenue by referring others players in a multi-level way. They can invest in the system, and have a chance at winning a smaller jackpot in our free lottery.
For now, the unique challenge is trying to find ways to improve our lottery to be the best Bitcoin lottery available…
What updates should we watch out for on your platform?
We plan to make massive promotion, start implementing the lottery to other cryptocurrencies, and develop other games.
Since you are operating in the Bitcoin gambling industry, what is your take on the growth of Bitcoin casino and gambling sites, and how does Bitcoin affect it in general?
Bitcoin is a revolutionary decentralized technology allowing us to send money to anyone in the world without having to trust third parties for it. And also, as it is decentralized, it has very low fees on transactions and it is confirmed in about one hour. That’s the main reason Bitcoin is become popular very fast. And with Bitcoin come the provably fair games that allow gambling sites to prove they are trustworthy in a better way old fashioned gambling places can provide, by this means, gambling is one of the most used ways to spend bitcoins, and also bitcoin gambling sites has the lowest house edges between gambling places and sites.
Before we wrap up, do you think cryptocurrencies will assume a major role in our daily lives in the years to come?
Because the facility of sending money with Bitcoin, in my opinion, is in the right time, Bitcoin will become near as popular as other options of payments. Merchants will adopt bitcoin because of the lower fees and its security on the transfer. Multinational Companies will adopt bitcoin because of the security and fast transactions times and even regular people will use it to send money to a relative that is in another place in the globe because it’s very simple to make a Bitcoin payment. For example, when one of us tried to send money to a company in another country via wire transfer, it took 4 months to our bank to tell us that the money was stuck because they couldn’t find the swift code we provided. We wouldn’t have this kind of problem if the company accepted Bitcoin in that time.
Indeed. Thank you for your time; it’s a pleasure.