To be exact, it's the CAKE Lottery...
I love the idea of how we now can actually spend crypto to do more and more things. The last time I spent my crypto to kinda gamble and try my luck is a few days ago with this CAKE Lottery
First thing first, it's not the least expensive lottery you would spend your money on. Secondly, it's fun and kinda give you a little hope for a day so, why not let's dive in.
How does the CAKE Lottery work?
- You spend 1 CAKE for 1 lottery which has 4 numbers on there. Your CAKE go into the lottery prize pot. More people participate, more CAKE!
- Spend CAKE to buy tickets, contributing to the lottery pot. Win prizes if 2, 3, or 4 of your ticket numbers match the winning numbers and their exact order!
Prize pool splits
- Match all 4 numbers in the exact order and win 50% of the pot (or split the pot if more than 1 winner).
- Match 3 numbers in the exact order and win or split 20% of the pot.
- Match 2 numbers in the exact order and win or split 10% of the pot.
Burn the remaining 20% of the pot.
For example, this CAKE lottery
243 people have 2 numbers in the exact order and win or split 10% of the pot which is 3004 CAKE so they get 12.36 CAKE each. Not much really and the chance is not high.
My experience with the CAKE lottery
I have tried it once. It's kinda exciting somewhat to look forward to the next draw. As I said, it's like it give you a little hope for the day. I didn't get anything last time though so pretty much $15 goes to nothing. Conclusion: Because the prize is not that much for what you spend, I would do it when I feel lucky but not going to do it constantly to waste my CAKE for nothing.
