Megaltr.com selects lottery prizes based on randomness, transparency, prestige, the structure of the prize, the number of players, etc. You can check details and link to each lottery game on Megaltr.com; for example, for Megamillions (USA), the link to the home page of this lottery game is https://www.megamillions.com
- The information published on the home page for each lottery game includes prize structure, ticket cost, drawing date, etc. Megaltr.com offers the same structure and prizes as the original game. However, Jackpot prize on megaltr.com is fixed as announced on the home page of MegaLTR.com
- Players will have two options: buy tickets using USD (fiat money) or using MLR tokens (Cryptocurrency) at Megaltr.com
- For example, the Megamillions prize is drawn on Tuesday each week, and the jackpot is USD 163 million (US Lottery). The MegaLTR Jackpot prize will be USD 40 million.
+ If you buy a ticket at the ticket counters listed on its homepage, the ticket costs $2. Upon winning, you will receive USD 40 million, minus required taxes.
+ If you buy tickets on megaltr.com, the ticket price and winning money will be paid with MLR tokens (+ gas on Ethereum network). For example:
Exchange rate: 1 MLR = 0.0039ETH; 1 ETH = 180 USD. The cost of gas to transact on ETH blockchain when a person buys the ticket is 0.005556. This fee is paid to the ETH network. The total cost for the ticket would be 0.0039 MLR + 0.005556 ETH = 2.84 MLR + 0.005556 ETH. If the person wins a special prize, he/she will receive (40,000,000 : 180): 0.0039 = 56,980,057 MLR before taxes.
For example, the lottery winning tax is 20% in France, so a French winner will be paid 56,980,057 MLR x 80% = 45,584,046 MLR. The French government will collect taxes. The winnings will be credited to the winner’s wallet on megaltr.com within 24 hours; the megaltr.com tax is retained and paid to the French government within 60 days.
- If the players have MLR or ETH in their ER20 wallets, they can withdraw MLR or ETH at any time, in any amount, provided that the account was successfully KYC’d. KYC is needed to ensure that each person has only one account on megaltr.com and megaltr.com has information about his/her nationality in order to calculate the full amount of tax when he/she wins jackpots.
- A successful KYC account will be rewarded 4 USD by megaltr.com and paid in MLR tokens.
- For all the lottery prizes in the world, megaltr.com will, in turn, evaluate the randomness, transparency, and attractiveness of each prize, as well as total interested participants. Megaltr.com will list that prize on their homepage to sell tickets and pay out the prizes. The list of lottery prizes in the world, which has been uploaded and is available for buying tickets and getting high prizes, is found by using in menu About on megaltr.com.
- The exchange rate between MLR/ETH and ETH/USD used on megaltr.com as the basis for exchanging MLR for ticket buyers and payment of tickets. Winnings will be paid out using the actual rate on the exchanges that MLR and ETH that is listed (average actual price).
- Note: To buy tickets on megaltr.com, players must have two types of cryptocurrencies: MLR to pay the ticket, and ETH to pay gas fees collected by the Ethereum network. Specific types of gas charges are:
+ Fee for exchanging ETH to MLR.
+ Ticketing fee purchased on the ETH network.
+ The gas fee that the ETH network collects is not fixed, but fluctuates from time to time, as determined by the etherscan.io network.