Lottoland is today (Monday) launching what it claims to be the world’s first officially licensed Bitcoin lotto jackpot.
The jackpot is seeded at 1,000 Bitcoins (€15.9m/$18.7), with today’s draw taking place at 8.30pm (GMT).
Bitcoin Lotto, which will be drawn each day apart from Saturday, is based on the popular 6/49 lottery format.
Lottoland said the odds of winning the Bitcoin jackpot are 14 million to 1, which is 10 times more likely than winning the EuroMillions.
Nigel Birrell, Lottoland chief executive, said, “We’re pleased to be able to announce the launch of this world exclusive lotto betting product. 1,000 Bitcoins are already worth £14m today, but might be worth double that by tomorrow. Bitcoin is a worldwide phenomenon, and Lottoland is giving our customers the opportunity to get involved.”
Bitcoin Lotto is backed by Lottoland’s insurance model, guaranteeing all pay-outs and giving customers access to the largest lottery jackpots in the world.
Related article: UK announces EuroMillions betting ban