To participate in the lottery, you need to choose 4 numbers from 1 to 20 in your lottery ticket, or select the Random auto selection icon to allow the random number generator to choose the numbers for you. The number of tickets that you can buy are 10 at a time . Using automated software tools for buying tickets or filling them out is prohibited.
As of the date of lottery launch, the price of one ticket is approximately USD $0.5 based on the average exchange rate to GEX on the day of ticket purchase. The ticket price may be changed in the future.
Players pay for tickets in GEX using their cryptocurrency wallets. This ensures that all payments are safe. Players also have to pay for a small fee (a transaction fee for using the Gexan network). The transactional costs of transferring lottery winnings are covered by the organizers. Once purchased, tickets cannot be exchanged or returned.
Distribution of Funds
Funds collected from ticket sales for each drawing are distributed as follows: 85% goes to the Prize Pool for the current drawing; 10% is used to cover advertising, marketing and legal expenses or just burned for price stability; 5% owned by the development team.
33% of the Prize Pool (Category 4) are always rolled over to the jackpot pool for the following drawing. The jackpot built up over the previous drawings is divided between the owners of the tickets with 4 matching numbers. If there are no such tickets, the current jackpot is rolled over to the jackpot for the following drawing.
The 4x20 Gexan lottery has a minimum guaranteed Jackpot of USD 2500 in terms of the average exchange rate to Gexan as of the current date. If the Jackpot won is less than the minimum guaranteed jackpot, the Reserve Fund will be used to compensate the difference. After that, all the funds intended to build up the jackpot for the following drawings will be first used to replenish the Reserve Fund. Initially, the Reserve Fund is funded from the amount of money collected for the Jackpot as well as funds contributed by the organizers.
The Prize Pool for each drawing is calculated based on 85% of the ticket sales for that drawing. It is distributed according to the following chart depending on how many numbers are matched.
In Categories 2, 3, 4 the sum is divided by the number of winners in the category. If there are no winners, the sum is rolled over to the Jackpot pool for the next drawing.
This means that the amount of winnings for matching 2, 3, 4 numbers is calculated by the equation:
Ticket sales for one drawing * 0.85 * 0.33(0.34) / number of category winners
Drawings are held every 24 hours. The time of the current drawing is indicated on the lottery ticket. Ticket sales end 1 hour before the drawing. After that time, any tickets purchased will be played in the following drawing.
Payment of winnings
Gexan lottery does not act as a tax agent. The responsibility to pay taxes lies with the owner of the cryptocurrency wallet to which the winnings were transferred.
By participating in the lottery, you agree to the lottery rules. By purchasing the lottery tickets, you guarantee that you are 18 years of age and/or you have reached the minimum age for legally participating in the lottery in your country of residence.