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Best Lottery Platform for Bitcoin
Unfortunately, there aren’t many legit lottery sites that accept Bitcoin as a payment method so we don’t have much to choose from. Luckily though, one of the best in India do – Lotto247.
At this site, you’ll find a good range of international lotteries to play and tickets are priced fairly compared to many other lottery platforms. The support is great, should you ever need help. The true icing on the cake is, however, Lotto247’s welcome bonus. You can get up to ₹8,500 as extra cash when you make your first deposit and use this money to buy lottery tickets for free.
Why Use Bitcoin to Play the Lottery Online?
The biggest reason for using Bitcoin to play the lottery is anonymity. While you aren’t necessarily 100% anonymous, it’s a valid payment option to use if you want your gambling transactions to stay hidden from the government.
However, important to know about Bitcoins is that lottery sites won’t allow you to withdraw money back to your Bitcoin wallet. It’s a one-way street. Deposits are made from your wallet, but any cash you withdraw must go to your bank account or an e-Wallet such as Skrill. From a Skrill account, you could, however, send any received money to your Bitcoin wallet.
- Anonymous transactions
- Very safe
- Can’t withdraw back to Bitcoin wallet
- Rapid changes in Bitcoin value
- Deposits aren’t instant
How to Purchase Bitcoins in 5 Easy Steps
- Download the Bitcoin.com Wallet app to your phone.
- Open the app, select BTC and choose to buy.
- If it’s your first purchase, verify your identity.
- Select payment method, such as Visa or bank transfer.
- Follow the instructions to complete the transaction.
How to Make a Lottery Deposit With Bitcoin
- Sign up to a lottery site supporting Bitcoin deposits.
- Head to the cashier at the site and select Bitcoin.
- Enter the amount to deposit and confirm.
- The site will now provide you with a Bitcoin address.
- Log in to your Bitcoin wallet.
- Transfer the exact amount of Bitcoins to the address provided by the lottery site.
That’s it! Usually, your lottery account is funded with your deposited money after 30 minutes. However, at times it can take a bit longer.
Do note that you won’t be able to actually play the lottery with Bitcoins, but the Bitcoins you deposit will be converted to your account currency (USD, EUR, or INR).
How to Withdraw Lottery Winnings With Bitcoin
As it currently stands with the trustworthy lottery sites that accept Bitcoin, Indian players can’t withdraw winnings through Bitcoin. Instead, you’ll be asked to withdraw your money using bank transfer or an e-Wallet like Skrill or Neteller.
Is It Safe to Use Bitcoin at Lottery Sites?
It doesn’t get any safer. When you deposit Bitcoins to lottery sites you aren’t using their platform at all, but they will provide you with a wallet address to make the deposit to. You then proceed by logging in to your Bitcoin wallet where you enter their address and send them the money.
The important thing about Bitcoin is, however, that you make sure that the address you’re sending your Bitcoins to is correct. If you send money to the wrong address, there is no way of getting it back. This is the biggest risk with Bitcoin and it is indeed a real one.