Loteo is a digital automated lottery platform that uses blockchain and smart contracts to create a transparent lottery. Unlike conventional lotteries in which you bet against an unknown number of drawn numbers, in LOTEO you only bet against other purchased tickets, an amount that is several thousand times smaller than the number of potential winning combinations in standard lotteries. Thanks to the blockchain technology, the system is transparent and you can track all transactions. The system runs on a dual-token structure - LOTES and LOTEU. LOTES is a security token which is meant to be sold only in private funding round (the STO). This token grants owners an opportunity to profit from being part of a lottery without being attendees in amount 20% of each prize total value. The LOTES are locked for 15 months and during this time it is not possible to buy or sell them anywhere else. After the first 15 months pass, there will be another funding round during which Loteo will sell at least 30% of all tokens. LOTEU is a utility token that will be used for marketing purposes. When a user buys an additional entry into the lottery with 100 LOTEU, you double your chances of winning the lottery. It doesn’t raise the prize, but it doubles your ticket number in the pool.
