The global online lottery market reached a value of US$ 9.61 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 14.35 Billion by 2027, exhibiting a CAGR of 6.50% during 2022-2027.
The lottery is one of the most regulated spheres, because at the each stage fraud is possible. Unfortunately, in the online lotteries the things look most badly and most of famous lotteries don't have online versions. The smart contracts and blockchain help us to create honest and strong systems and we can use that for a lottery and Web2 to Web3 transformations.
What it does
The crypto lottery is similar as Powerball lottery in the United States. The player must choice the 5 numbers of 69 and 1 of 26 in the dapp. When round will end the player can claim a reward from the smart contract instantly without borders.
How I built it
The solidity smart contract with React library and web3.js looks fine. I think, we must use minimal of technologies for the system stability.
Challenges I ran into
- Multichain support for the project.
- MultiWallet support for the project.
- Mobile wallet work
Accomplishments that I'm proud of
The honest blockchain lottery without the brokers. Security and scalability of crypto lottery.
What we learned
- Benefits of migrating Web2 apps to Web3
- Web3.js, Solidity
What's next for Crypto Lottery
- Production version
- Support more networks
- Add new functional
- Add new wallets
. Online Lottery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 (https://www.imarcgroup.com/online-lottery-market)