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Prize Linked Savings Accounts, the Cure for the Traditional Lottery!
Lottery equals a game of chance.
In the traditional lottery you buy a ticket, the winner is selected and everyone who didn’t win loses the money they spent on the ticket.
This traditional lottery has a huge prize, and millions of entries with astronomically small chances of winning, like 1 in 1 million or in the case of very large prizes 1. In 10 million.
If you do the math, a 1 in 1000 chance of winning is 0.1% chance of winning or a 99.9% chagnce of losing.
Correspondingly a 1 in a million is 0.0001% chance of winning or a 99.9999% chance of losing.
Although lotteries are often seen as the only chance for the poor to get rich, others criticize them for (a) very low chance of winning and (b) weekly loss of money to pay for lottery tickets.
The Prize Linked Savings Account cures the traditional lottery, in two ways.
First, the number of entries is smaller, so the chance of winning is higher. And the number of prizes are higher, so with more chances to win, the chance of winning is larger.
Second, the ticket price is refundable, so no loss of funds occurs.
The United States legalized Prize Linked Savings accounts, and many other countries followed.
It just makes sense to provide a savings vehicle, which also provides a chance to win.
Leofinance has a Prize Linked savings account: No Loss Lottery
Hurray!
Yes, the No Loss Lottery is designed to function like a Prize Linked Savings Account, and provide a vehicle for savings and large prizes.
So feel free to enter the No Loss Lottery, a Prize Linked Savings Account.
Leofinance has a Prize Linked savings account: No Loss Lottery
The No Loss Lottery Explained
Short version:
You send your Leo to @nolosslottery so you have a chance at a prize, worth much more then the Leo you sent, and you can always get your Leo back.
The No Loss Lottery combines the Money Safety aspect of a Savings Account, with the Large Prize aspect of a lottery.
It lets you save and it lets you dream.
Let it Ride!
In the No Loss Lottery your money is never lost, you deposit it, and leave it in to enter every weeks lottery.
Okay, How do you enter?
First, Send one Leo or more, to @nolosslottery
Second, you will be assigned a number.
Done.
That’s it. Done.
See original post for Official Rules Longer Explanation.
Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance.
Read more of shortsegments articles here: https://leofinance.io/@shortsegments
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