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Jackpocket, an app for trading lottery tickets, has announced it is now using the virtual currency.
Jackpocket, a mobile app for acquiring lottery tickets, has started accepting payments in digital currency. The users of the app will now be able to fund their accounts with the use of bitcoin and play a wide range of games available, such as the Mega Millions, New York Lotto and Powerball lotteries.
Meantime, the Powerball jackpot hit $1.5 billion on Wednesday night, what is one of the biggest lottery prizes in the US so far. The officials said the sum will be divided between the three winners located in California, Florida and Tennessee.
The jackpot was launched in November at $40 million and was rolled over 19 times, but no one has managed to guess the winning numbers until now. Powerball tickets are sold in 44 states and cost only $2 per each, while the overall revenues from selling the tickets reach billions of dollars. The odds of choosing the right combination are just 1 in 292 million.
Jackpocket has been seeking to improve the processing of mobile payments within the past few months, owing to the strict regulations in the US.
According to Medium, the bitcoin integration complies with the company’s strategy to build high-efficient and secure lottery platform. This means “reducing friction and providing more options for players, utilizing playing data to fully embrace responsible gaming principles and ensuring the lottery itself is more safe and secure.”
Jackpocket, which is available both on Android and iOS platforms, can be used only by residents of the New York state.
There are a lot of reasons for integrating digital currency. The everyday usage of bitcoin for playing lotteries turns it into a more traditional currency and helps to increase people’s awareness.
Besides, it is an opportunity for bitcoin wallet holders to spend their cryptocurrency, as there are not many places where bitcoin can be spent on a daily basis. “Furthermore, accepting bitcoin creates a new demographic of lottery players. The lottery has notoriously been associated with harboring on a poverty-stricken population,” Medium writes.
In order to fund your account with bitcoin, it is necessary to sign up using a phone number. After the registration process, the system processes the bitcoin transaction and automatically sends money to the account. Upon completion, you will get an email from Jackpocket telling the cryptocurrency has been transferred to your account.
For the next order, you can just open your native Jackpocket app containing all the credits necessary to use for the other purchase.