How Lottery Works And How To Set It Up

First, let’s take a look at the lottery game in your CryptoKit website.                    

Crypto Lottery games work similar to online lotto games. Users buy tickets, and the funds from tickets are used for the prize pool. 

                   

Only this time, the tickets and prize pool are in cryptocurrency, and the winners are paid in cryptocurrency! 

                   

To play your lottery game, users need to log in with their wallets on your site, and then visit the “play lotto” section. 

                   

There, they can buy tickets for the lottery round that’s playing when they visit the page, and they can buy as many tickets as they want until all tickets are sold. 

                   

The prize pool as well as the prizes are determined by the number of tickets sold. 

                   

Each winner wins a set percentage off the prize pool. First prize wins 50%, second prize wins 25%, third prize wins 12.5%, and the rest of winners gets a small percentage in descending order. 

                   

The larger the prize pool, the larger the prizes for each winner. The size of the prize pool will also depend on the price of tickets. The higher the price of the tickets, the larger the prize pool! It’s all calculated automatically for you. 

                   

One thing your users will love is that the CryptoKit Lottery shows participants a way to verify the fairness of the lottery on the blockchain after each round. 

                   

And the best part, you will earn income by taking an admin revenue percentage off the prize pool after each round! 

                   

To set up and enable this awesome Crypto Lottery game on your site, start from your CryptoKit dashboard and click on the “CryptoKit Settings” shortcut.

                    

Next, click on the “Earn Settings” tab, and then click on the “Lottery” tab on this column. 

                   

The settings you need to configure here are easy. 

                   

Start by setting the price of tickets into the “enter ticket price” field. 

                   

I recommend you to enter a low entry price that’s between $1 and $20 so everybody can buy, and to make a generous prize pool. 

                   

Next you are going to set the number of winners per round into the “how many winners per round” field. 

                                                                                               

This is the number of winners you want to draw on each lottery round. 

                   

And now you’re going to set the number of tickets you’ll sell per round on the “how many tickets for each round” field. 

                   

Here I recommend you to set a large number of tickets for sale, because the more tickets you sell, the larger the prize pool, and the more money you will earn for the admin fee! 

                   

Lastly, you are going to set the “Admin Revenue Fee”. This is the percentage you’ll earn off the prize pool after each round. 

                   

The admin revenue fee is set at 15 percent by default, but you can set a different percentage if you want. 

                   

My recommendation is that you keep a 15 to 20 percent percentage. 

                   

Once you are done setting all your settings you are going to click on the “Enable Lottery” lever button to activate the lottery game on your site. 

                   

And then click on the “Save Changes” button.