If you already have a wallet with some of the best-known digital currencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Gold, Bitcoin SV, etc) you are probably already using them for all types of online payments.
The use of these digital currencies makes more sense when it is important to avoid government supervision. That’s why they have become increasingly popular for all types of online gambling and betting.
Buying a lottery ticket is commonly accepted and is not considered a gambling game, however, many governments and financial institutions hold the theory that it is an online game, and place restrictions on any online gambling activity. The perfect excuse is that they try to regulate these types online activity for their protection, but the real reason is that they fear a loss of income and taxes.
It would be easy to understand that most countries have their own lotteries usually operated by the government itself. They claim a source of income of their own, and of course, any other activity outside their control (whether by their own organisation or by assignment to a private company) is considered competition.
Among others, this is one of the main reasons why government organizations, banks, financial institutions and even business owners have been badmouthing Bitcoin, as it is the first and best known since its creation.
To begin with, it has the advantage of possible anonymity, especially if the player resides in a country where gambling is considered illegal, being able to purchase a lottery ticket from any country regardless of the player’s place of residence.
In addition, there is the issue of commissions for transactions carried out by financial institutions. In the case of virtual currency transactions, these commissions are significantly lower, which gives an added advantage.
In general, if the purchase is made online, there are some platforms that offer the possibility of payment through a variety of crypto currencies.
In Lottohoy.com we offer this service through the BitBay Pay platform, which brings together up to 10 different virtual currencies, including the most popular.
If you don’t have an account yet, maybe now is a good time to create one. For many reasons, having a virtual wallet is very convenient!