TOMBOLA
Introduction
Tombola is a Blockchain based lottery and gambling services which is eliminating the manipulations or fraud in lottery-based tickets, numbers and winners. According to the source, the lottery market increasingly growing from $178 billion in 2004 to $294 billion in 2016 and it is expected to grow at CAGR of 9.44% in the future.
It is a reliable lottery platform where users can purchase tickets through cryptocurrency and proceed with the game and prizes are automatically distributed according to the winnings via blockchain. Users will be able use the value which is obtained through lottery purchase or winning by using various game services and distribution system, which also provides them to increase their value. A lottery and gambling platform where no one can manipulate results of game, does not charge any game fee and 50% of profits will be distributed to Tombola token holders regularly.
Problem
The problem is in existing lottery industry where an individual or organization trying to manipulate the result and in distribution of the prizes. There is only 50% of funds are distributed to the winners and the remaining amount is not fully explained where it goes. They are lacking in transparency and many lottery operators are wasting the remaining funds on their excessive or unnecessary operating expenses. On the other side, they are paying lot of taxes and do not disclosing the detailed amount, proof of expenditure to users who purchased actual lottery tickets.
Solution
The solution where Tombola is come up with their Blockchain based lottery and gambling industry by eliminating the manipulations in lottery tickets, numbers and winners. They are connecting crypto based lottery platform where users can purchase tickets through cryptocurrencies with full transparency. The winners automatically get their prizes through blockchain technology. The gaming structure of Tombola platform uses Chain Seed, Player Seed and nonce to derive game results where the nonce means number set for each game. Every result is being recorded on the blockchain and everybody can see it with full transparency.
Tombola is a Blockchain based lottery and gambling services which is eliminating the manipulations or fraud in lottery-based tickets, numbers and winners. According to the source, the lottery market increasingly growing from $178 billion in 2004 to $294 billion in 2016 and it is expected to grow at CAGR of 9.44% in the future.
It is a reliable lottery platform where users can purchase tickets through cryptocurrency and proceed with the game and prizes are automatically distributed according to the winnings via blockchain. Users will be able use the value which is obtained through lottery purchase or winning by using various game services and distribution system, which also provides them to increase their value. A lottery and gambling platform where no one can manipulate results of game, does not charge any game fee and 50% of profits will be distributed to Tombola token holders regularly.
Problem
The problem is in existing lottery industry where an individual or organization trying to manipulate the result and in distribution of the prizes. There is only 50% of funds are distributed to the winners and the remaining amount is not fully explained where it goes. They are lacking in transparency and many lottery operators are wasting the remaining funds on their excessive or unnecessary operating expenses. On the other side, they are paying lot of taxes and do not disclosing the detailed amount, proof of expenditure to users who purchased actual lottery tickets.
Solution
The solution where Tombola is come up with their Blockchain based lottery and gambling industry by eliminating the manipulations in lottery tickets, numbers and winners. They are connecting crypto based lottery platform where users can purchase tickets through cryptocurrencies with full transparency. The winners automatically get their prizes through blockchain technology. The gaming structure of Tombola platform uses Chain Seed, Player Seed and nonce to derive game results where the nonce means number set for each game. Every result is being recorded on the blockchain and everybody can see it with full transparency.
Despite the high interest it commands, the lottery and gambling industries have been riddled with massive incompetency on various levels, these incompetencies have stemmed from dishonest and insincere practices that have over time, greatly reduced the amount of trust people have towards lotteries.
Although we seem to not feel the direct impact, some companies and firms have failed in recent product launches because people have refused to subscribe to their promotional antics. More so, Investors and other multinational companies have refrained from investing into the gaming, gambling and lottery industries. The causative factor? – Dishonesty.
An Overview Of The Industry
The blockchain technology has made a lot of services better than they used to be. Little wonder a lot of businesses have adopted the technology. Now the lottery and gambling services have taken the right turn with the introduction of the blockchain into their operations, led by a product called Tombola.
With the birth of the blockchain and it’s transparency and optimal scalability, corporations and industries across the globe have repeatedly leveraged on the unique capabilities of this 21st century innovation, to reinvent their industries by eliminating the negativities that has limited their growth.
This is an exciting time for the lottery and gambling market and we shall explore the expected changes for the industry below.
Looking At The Existing Challenges
The lottery market is faced with the challenge of easy hacking of their system. Some years ago, some incidences were recorded in which some individuals tampered with the lottery system and by so doing, the results of the games played were altered.
The gambling and lottery business is supposed to be built on total transparency but with such problems of hacking, this industry cannot reach that level of transparency. Tombola will transform the mode of operations in the gambling and lottery industry.
The need for stakeholders to build their operations along transparent systems which will boost the confidence levels of their clients cannot be over emphasized. This is why a team of experts who have gathered decade long experiences over various industries have come together, towards reinventing the industry by bringing together, various parameters and technologies that will help grow the gambling industry, and also increase investor confidence. The name of the new project is Tombola.
Tombola – Saving The Industry
Tombola is a product that will utilize cryptocurrency in its operations. It is the first of its kind that will make use of EOS blockchain to provide the world a lottery and gambling business service. Tombola aims to be at the pinnacle of lottery services and gaming in the world.
Tombola’s Unique Strategy
Smart contract: This strategy will be employed by Tombola for the purpose of verification and propagation of contracts digitally.
The smart contract in the Tombola platform will make it possible for transactions to occur without the need for Intermediaries and these transactions will be documented and traceable.
This smart contract distinguishes Tombola platform from traditional lottery services because of its superiority and it will make cost of transactions to become cheaper.
Cryptocurrency: Tombola will make use of cryptocurrency in their operations and transactions which will remove the barrier of geographical location. This strategy gives everyone in the world the ability to access the tombola platform and to participate from any corner of the world.
Tombola will boost confidence by leveraging on a decentralized strategy which will randomly generate results for lotteries and polls, without a single factor being the determinant of the result.
With Tombola, operations will be highly secure and encrypted, 3rd party alterations and modifications will not be possible due to the transparency of the blockchain. All outcomes will be independent, and with their transaction IDs, they will be fully verifiable.
Why Tombola Stands Out
Tombola plans to become beneficial to many more gaming platforms by sharing their expertise with them and reaching agreements for the utilization of the Tombola Token on those platforms.
Tombola makes the security of their users of great importance, therefore, they have implemented the blockchain to bring about the safety of users transactions on their platform.
Despite the supposed interest by various other companies who rake in billions of dollars from the gambling industry yearly, and the operations of various programmers to create hack-proof systems, Tombola stands out as the first innovation that will tokenize transactions and make the actions that lead to the outcomes fully accessible to the public who may want to investigate it.
Tombola is championed by a team of revolutionists who understand the pains in the industry, and are fully committed to making the change we all desire.
Conclusion
Tombola is the answer the gambling and lottery industry has been waiting for.
The Tombola platform will definitely make a difference and with them in the picture, no manipulation will occur in the lottery market. Tombola is worth every consideration.
With the project having officially kicked off, the team is fully committed to giving everyone the chance to come on board, and become major stakeholders. For this reason, the team have decided to kickstart an initial coin offering exercise which will attract interested partners to team up and help save the gaming and lottery industry.
The ICO will feature the offering of TBL tokens at an early bird rate. Funds which will be gotten from the ICO will be used to carry out numerous actions which have been designated and planned in the project’s whitepaper and roadmap.
This is your own golden opportunity to become a part of something unique. An opportunity to eliminate insincerity and shady operations in the lottery industry. It remains your best opportunity to become a partner in a futuristic project, so do not pass on this one.
THe ICO for the tombola project is ongoing. Be a part of the ICO by visiting the official website through the link below. You may also visit the official tombola telegram group chat, where you can interact on a one on one level with the team, and get a more detailed first hand information about the project.
To get started, you should click any of the links below:
author: munzaeae
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1063793
eth address: 0xD715ddA7d156E781E9fc5Aad7DB7301B2b8F64ca
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1063793
eth address: 0xD715ddA7d156E781E9fc5Aad7DB7301B2b8F64ca
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