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Ratings Loteo

Lottery Needs Revolution

Loteo is digital automated lottery platform that uses blockchain and smart contracts to create a fully transparent lottery, where your chances are incomparably higher compared to conventional lotteries. LOTES is a security token which is meant to be sold only in private funding round (the STO). There will not be any public sale, for all investment requirements, please fill the form on the website www.playloteo.com. 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 in compliance with legal and regulatory requirements. All details will be revealed before this event. After selling these tokens, the token will be listed on exchanges. After 15 months,maximum 20% of all security tokens will be owned by the lottery while 80% will be decentralized, preventing the lottery from being manipulated. The token also has a governing function, meaning any significant change has to be achieved by consensus and any token holder can issue a suggestion or voting.

4.3
8 7 expert ratings
Benchy 4.5
KYC
Experts
4.2
4.1
4.5
Review: coming soon PRO
Ended
Token
LOTES
Price in ICO
0.0569 USD
Country
Whitelist/KYC
KYC
Restricted areas
USA, Netherlands
ICO start
1st Mar 2019
ICO end
30th Apr 2019
Visit ICO website
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Changelly

Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Ian Scarffe
Blockchain Consultant, ICO, IEO, STO Advisor. Founder at Crypto Consulting and Investments LTD.
Rated on Mar 30, 2019
4
4
5
15%

Loteo is a nice and promising idea. There are more and more gambling products on the blockchain as they make use of the transparency it provides, and they have come up with an idea which can appeal to a wide audience. They have a good team, strong vision and an effective idea.

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0
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Nozomu Nakazato
ICO consultant
Rated on Mar 26, 2019
5
4
5
15%

In fact, lottery and blockchain are very compatible fields. That is why there are many competitors. However, this project has succeeded in presenting USP wonderfully in terms of the system.
The draw is based on a random number generation system with codes published on GitHub and Ethereum Network. The winners will receive 75% of the prize pool as a reward, which will be sent to their Ethereum address.
I think it is very simple and reliable as a mechanism.

+7Agree
+7
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Sayali Joshi
BLOCKCHAIN EXPERT, ICO and STO Marketing and fundraising consultant
Rated on Mar 26, 2019
Modified on Mar 26, 2019
5
5
4
8%

Expansion of mobile technologies and use of Internet is definitely an added benefit for lottery market. Loteo is automated lottery system on smart contract that makes it trustable and provides online environment for lottery market.

As per WP loteo provides transparency, trust and winning chance to everyone and have good plan for risks.

+1Agree
-22
-23Disagree
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Sash (Yoganand) Jeetun
ICO Advisor, Business Development and Business Strategist.
Rated on Apr 23, 2019
4
4
4
7%

Team; Quite an interesting bunch but lacking backgrounds from the concerned business area.

Vision: The business idea is great and really something that could work on blockchain. Soft cap and hard cap are very much realistic, just worried if that will be enough for the project.

Product: well designed but I think with a really good marketing campaign they could make the cut.

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Nirav Kuwarji Gala
ICO, IEO and STO Advisor
Rated on Apr 23, 2019
1
3
2
7%

On the face of it Loteo looks to be a very interesting project. The use of blockchain technology to improve how lotteries are conducted is quite unique. The team has done a very good job of communicating the key issues with the current lottery system and how they are using blockchain technology to solve some of the pain points of existing lottery players. As a lottery player I would want to give it a try once if the odds of winning are favorable and the process is transparent as claimed by the project.

However, a good product does not equal a good investment. As an investor a good product idea is a great but not the only thing that matters. There are other things which need to be considered as well.

Team - Based on the review of the team credentials in the whitepaper and social media it appears that they do not have any significant experience in running a lottery business. Given the highly technical nature of the project it is surprising to see that the project does not have a CTO or any developers for the matter. The team is full of people from Marketing and PR background which makes the team very unbalanced.

Vision – As discussed above the use of blockchain technology to improve how lotteries are conducted is quite unique.

Product - It appears that the project is currently at MVP Stage.

Legal Structure –It is mentioned in the whitepaper that Loteo has established a company in Curacao that has applied for an online gambling license with a subsidiary in Cyprus. However, it is not mentioned which company is issuing the Security Tokens. The legal identity and registration details of both companies are not mentioned in the whitepaper. Thus, it is not clear what investors are getting in return for their investment. This is very important from an investor protection perspective.

Overall the concept of the project is interesting but after considering the other factors it looks quite a risky investment. I would wait for the project to deliver more milestones and conduct a very thorough due diligence on the project before considering any investment.

Disclaimer: Above is my personal opinion and not an investment recommendation. Please do your own research and take independent financial advice before making any decision

You can find my raiting methodology here. https://medium.com/@niravgala/nirav-galas-ico-bench-rating-methodology-c7186a354c9e

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0
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Ashton Wolfe
Listing Legend | PR | ICO Analyst
Rated on Mar 25, 2019
Modified on Mar 25, 2019
5
5
5
7%

It seems gambling on the blockchain is becoming more popular in the industry as we speak. Loteo takes a unique approach to gambling on the blockchain by offering token holders a higher incentive to play and earn a bigger bang for their buck. Their team is experienced in both gambling and technology so there is a lot of successful KPI's they're able to hit.

A fully decentralized casino is the safer bet, allowing a more transparent and trustworthy platform for everyday users to take part in. Alongside a trustworthy user experience, their referral program allows users to make more than 40% profits from their initial investment. This is incentive to bring more users in looking to make residual income and actually spend time spreading the word about Loteo.

Lastly, I also like the fact they are not running an ICO or STO - it shows they don't need to raise a plethora of funds to launch something everyone can enjoy or worry about upcoming regulations. Looking forward to more updates and the launch of Loteo in the upcoming future.

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0
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Ajit Kumar Jain
ICO and STO Legal and financial Advisor
Rated on Mar 26, 2019
Modified on Mar 26, 2019
5
4
5
6%

LOTES is a security token which is meant to be sold only in private funding round (the STO). There will not be any public sale, for all investment requirements, please fill the form on the website www.playloteo.com. This makes this ICO very vibrant and significant. Overall I see a great potential in this ICO.

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-25
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Benchy
ICO analyzer bot
4.5
35%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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Rastislav Bakala
Passed
Jan Lalka
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