NOTE: This article is for information purposes only. CoinPot and all its associated Bitcoin faucets have now closed down. If you're looking to earn free Bitcoins visit Freebitcoin and Cointiply.
Do a quick google search for online lotteries and you’ll be bombarded with thousands of results, making it hard to find legitimate sites that actually pay out.
But did you know that there are free lotteries out there that pay out prizes in bitcoin? And the best part is that you don’t need to spend a single penny of your own money to be in with a chance of winning.
The two lotteries we’re going to talk about in this article are those run by CoinPot and Freebitcoin. CoinPot is a free bitcoin faucet microwallet (more about microwallets later), while Freebitcoin is primarily a bitcoin faucet.
To get started with CoinPot firstly sign up to all or some of the following faucets (they’re all completely free) because you need to fund your account: Moon Bitcoin; Bit Fun; Bonus Bitcoin; Moon Bitcoin Cash; Moon Litecoin; Moon Dash; Moon Doge.
These faucets give out free coins because they earn money through advertising based on traffic volume and this is the incentive for you to keep returning.
Next, create a free account at CoinPot. The coins you earn from the faucets above will be paid directly into this account. That’s it, you’re ready to go!
Just use the free bitcoins you’ve collected to buy CoinPot tokens, a digital asset that can we swapped for tickets for CoinPot’s hourly lottery.
The user account page of the CoinPot lottery:
On this page you’ll find live stats on how many tickets have been bought for each round, how many you’ve bought, what your chances of winning are and the prize pot value. The most recent winners are also displayed.
It’s worth mentioning here that you don’t have to use your faucet earnings to buy lottery tickets. You can wait until you’ve collected a decent amount then transfer them to your bitcoin (or alt coin) wallet, such as Coinbase.
If you haven’t already got a Coinbase wallet, we suggest signing up using our referral link which will give you $10 of free bitcoin when you buy or sell $100 or more of coins. Full disclosure: We get the same.
The second lottery/faucet site we’re going to talk about is Freebitcoin, which is one of the oldest sites of its kind online and is extremely well trusted and reliable.
Firstly, Freebitcoin offers a simple, ad-free faucet which enables you to claim free Satoshi (fractions of bitcoin) every hour.
Every time you claim you also earn reward points and entries into Freebitcoin’s weekly lottery, together with a chance of winning up to $200 of bitcoin instantly.
The user account page of the Freebitcoin lottery:
While not quite as addictive as CoinPot’s hourly lottery, the prizes on Freebitcoin are huge. On average the 1st place payout is around 1.3 bitcoins, with nine generous runners-up prizes as well. And the hourly lucky number draw is also a good incentive to keep claiming.
The lottery prize pot starts small at the beginning of each week and gradually grows as more and more people enter. It’s not uncommon to in the region of 300,000,000 tickets being entered.
The reward points can be used towards various electrical goods, such as bitcoin hardware wallets and mobile phones. But you’ll need to collect a lot before you’re eligible.
This process can be accelerated by building up a network of referrals (more about earning through referrals here) as you earn lottery tickets, reward points and bitcoins for each claim they make.
In addition to all of the above, Freebitcoin also pays interest on any bitcoin you hold on the site as long as you maintain a balance of 30,000 Satoshi or above.
There’s a also a hi-lo game you can play which enables you to multiple the coins you’ve earn through the faucet or deposited. This is great if you enjoy gambling, but remember the golden rule: the house always wins.
In case you’re unfamiliar with microwallets they can be best explained as a free bank account that enables you to deposit bitcoin and other cryptocurrencies from a variety of sources around the web, including faucets and games.
All the tiny amounts you collect are amalgamated together meaning you can accumulate a usable amount far quicker than you would otherwise.
Hundreds of faucets use this microwallet, but many of them pay out small amounts or go scam quickly which is why we recommend starting with the CoinPot faucets.
Like CoinPot, FaucetHub also offers a browser mining facility whereby you can use your spare CPU/GPU power to mine coins while you work. However, unless you’ve got very high-end equipment the rewards can be low (read more about browser mining).
CoinPot also allows you to mine CoinPot Tokens, which is another free method of earning the currency needed to enter the lottery.
Other pages you might like:
- CoinPot launches lottery
- Top Faucet List
- Moon Dash Faucet Launched
- Do I Need To Buy A Whole Bitcoin To Invest?
- Is Moon Bitcoin Faucet Legitimate?
- Is CoinPot Microwallet A Scam Or Legitimate?
- What Are The CoinPot Faucets?
- Browser Mining Guide
- Moon Bitcoin Review
- Is CoinPot Microwallet Legitimate
- Complete Faucet List