Rollbit RLB crypto lottery receives major update

This includes free entry, eliminating staking fees, and lottery contributions at 1.2% of casino profit

Rollbit has unveiled a substantial revamp to its RLB Lottery. One of the pivotal updates centers around lottery contributions, which now stand at 1.2% of the casino's profit.

This change aims to augment the prize pool and create a more enticing incentive for participants. 

Moreover, an exciting development comes in the form of free entry. Gone are the staking fees that were once associated with entering the RLB Lottery, promising an enhanced appeal for both seasoned and novice players alike.

The RLB Lottery, an event occurring once every 100 BTC blocks, enables players to wager RLB tokens for a shot at substantial rewards. Each round’s prize pool derives from a share of Rollbit's casino profits, fostering a direct connection between player engagement and potential earnings. Notably, the impact of these changes is exemplified by a staggering $742,673 being won in a single round.

Entrants can now harness multipliers and join teams to amplify their odds of winning. These features cater to participants with smaller RLB balances, widening the accessibility of substantial wins.

The new enhancements also bring about a transparent display of winning probabilities associated with different RLB wager amounts, promoting an informed approach to participation.

The RLB Lottery functions as a dual-draw system, wherein one draw is dedicated to the lottery itself and another pertains to the lottery jackpot. The former guarantees regular payouts every 100 Bitcoin blocks, contingent on the player's RLB wager size.

Meanwhile, the latter offers an intriguing twist, with a 10% probability that a single player will lay claim to a portion between 2% and 100% of the jackpot.

Rollbit's commitment to fairness and transparency is further evident through its cryptographic methodologies. By incorporating random secrets, Bitcoin block hashes, and user-provided seeds, the lottery's outcomes are cryptographically secure and immune to manipulation. RigsterTV's meticulous examination of the lottery's provable fairness confirms its integrity.

Upon conclusion of a lottery round, the distribution of prizes follows a structured framework. The top ten players are rewarded with ascending percentages of the prize pool, while those from 11th to 100th place receive fractions ranging from 0.333% to 0.111%. 

Other recent developments saw Rollbit introduce a Buy & Burn program, utilizing a portion of its revenue to acquire and destroy RLB tokens daily. As a result, the new burning program drove a notable 65% surge in the RLB token price. 

This month Rollbit's native RLB token also achieved a significant listing milestone on the Poloniex exchange, following its substantial Ethereum network presence.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Silvia Pavlof

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