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FAQ

About Quanta Group

What is Quanta PLC?

Quanta Public Limited Company (PLC) steers technical breakthroughs and innovation by integrating blockchain, smart contracts and RegTech. It develops first-class products and services for entertainment, finance/banking and renewable energy sectors. Its open innovation model affords unprecedented opportunities for collaboration by top players in various industries and markets. It has been relentlessly developing means for empowering people through revolutionary yet accessible solutions to everyday life.

What is QTL?

Quanta Technology Limited (QTL) is a licensed company based in the Isle of Man and registered with the Gambling Supervision Commission (GSC). QTL runs the first fully compliant blockchain lottery in the world called Quanta. Built on the Ethereum blockchain, Quanta utilises smart contracts for ticket sales, the selection of winners and prize payouts. The system allows for fully autonomous, transparent, manipulation-proof gaming. Developed with breakthrough RNG (random number generation), the first provably fair lottery can operate independently or be adopted as a white label solution.

What is the relationship between Quanta PLC and QTL?

Quanta Technology Limited (QTL) is a subsidiary of Quanta PLC which is a part of the Quanta Group. The Quanta group provides an integrated blockchain system with its own lottery service which stakeholders can participate in the success of. The IP of the lottery system is held by Quanta PLC. There is a software licensing arrangement between Quanta PLC and QTL that allows Quanta PLC to use QTL’s lottery software.

What regulations oversee Quanta?

Quanta is overseen by the Online Gambling Regulation Act of 2001 and the Designated Business (Registration and Oversight) Act of 2015, and adherent to all Anti-money Laundering and Countering the Financing of Terrorism (AML/CFT) legislation. QTL is regulated by the Isle of Man Gambling Supervision Commission and Quanta PLC is supervised by the Isle of Man Financial Services Authority (IOM FSA) and is registered under the Designated Business (Registration and Oversight) Act 2015.

Who are the GSC?

In 2001, the Isle of Man Government was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and e-gaming firms and fully protect customers. The Isle of Man’s Gambling Supervision Commission ('GSC') is an independent statutory board established in 1962. In addition to the licensing and regulation of land-based gambling operations (casinos, amusement and slot machines, betting offices and lotteries), the Commission regulates all online gambling activities. The core principles the Commission upholds are
  • a. To keep the gambling industry crime free
  • b. To protect the young and those at risk
  • c. To ensure that the services offered by licence holders are fair and that players receive their true winnings

Who are the FSA?

The Isle of Man Financial Services Authority (IOMFSA) is the regulatory body for the financial sector in the Isle of Man. The objectives of the Authority are to secure an appropriate degree of protection for the customers of financial services providers, reduce financial crime and maintain confidence in the Island’s financial sector through effective regulation.

Why the Isle of Man?

The Isle of Man is a leading jurisdiction for online gambling and blockchain regulations with a well-established digital business ecosystem and community. The self-governing British Crown Dependency has established regulations and compliances specifically designed to accelerate cryptocurrency & E-gaming industry growth. It is home to commercial opportunities that emerge from the convergence of e-gaming, cryptocurrency and world-class telecom interconnectivity, bandwidth and Tier 3 certified data centers. The Isle of Man enjoys great political stability and is on the Organisation for Economic Co-operation and Development’s (OECD) White List and a member of the World Trade Organisation.

About Lottery

What is Quanta Lottery?

Quanta Lottery is the world’s first fully compliant blockchain-based lottery utilizing cryptocurrencies. Its use of the Ethereum blockchain’s smart contracts enables unprecedented security, transparency and ease of operation.

What are the advantages of a blockchain based lottery game?

Complies with Isle of Man regulations and anti-money laundering standards Reliant on Blockchain technology that is self auditing, tamper-proof and immune to mainipulation

Optimizes paperwork, resources and operational costs while avoiding human errors.

Identical access for multiple devices and locations / markets ensuring complete equibility.

Decentralized, transparent P2P system enabled on Ethereum Blockchain

Encrypted method of random number generation is self-contained, autonomous and insusceptable to manipulation

What makes Quanta Lottery different from other crypto lottery games?

On August 7th, 2017, Quanta Technology Limited (QTL) officially became the first blockchain lottery to receive an e-gambling license from the Isle of Man GSC. This license, which required a stringent 17 point assessment by the globally recognized gaming commission, ensures that players’ funds, data and identity are secure as well guaranteeing transparency and accountability. The license requires resources be provided to aid players for whom gambling may become a problem. Similarly, Quanta PLC is registered with the Isle of Man FSA, which like the GSC license requires strict Anti-Money Laundering (AML) and Funding of Counter Terrorism Financing (CTF) efforts. Quanta is a crypto venture that maintains unrivaled standards for compliance, security and risk management.

Who can play Quanta Lottery?

Only those over 18 years of age can participate. To withdraw winnings, players need to submit proof of age in the form of a passport and photo with passport. Additional proof of age may be required if needed. It is recommended that web filtering used to prevent access to the lottery game if user(s) share a computer with someone under the age of 18.

Is there any limitation of countries from where players can play?

Basically, there is no limitation of participation from any person in any region of the world. However, Quanta is committed to following all laws and regulations. Therefore, participation in Quanta is restricted to those countries in which all licenses and operation requirements have been satisfied.

How can I participate in the lottery?

Players can access lottery, register, buy tickets and claim winnings via desktop or mobile device.

How much does it cost to play?

All lottery tickets are priced in QGT and the payment is only received in QGT. The price of each lottery ticket is set in QGT equivalent of USD1.00 at the time of each lottery round starts.

Is there any limitation of number of ticket or amount of money that one player can buy?

For player approved with KYC-1:

  • Max. 30 tickets / transaction (one buyer can perform more than one transaction for any round)
  • Max. GBP100 / month for total ticket value bought in the same month

For player approved with KYC-3:

  • Max. 30 tickets / transaction (one buyer can perform more than one transaction for any round)
  • No limitation for total ticket value

Can I buy tickets with fiat currencies like USD or EUR?

Quanta Lottery does not accept any form of payment other than QGT, since the lottery operates on Ethereum blockchain. In the future, payment in form of fiat currencies may be integrated however such methods may require some transaction fees.

How can I keep QGT to buy ticket?

Players can use a cryptocurrency wallet like Quanta Game Wallet developed by Quanta Group to make transactions with Game Tokens. Quanta Game Wallet is a secure wallet that allows users to safely send, receive and store cryptocurrencies (currently BitCoin, Ethereum, Game Tokens and QNTU). It is available for download on iPhone, Android phone, MacOS and Windows OS devices.

What are the prizes?

The total prize pool consists of 70% of the total value of tickets sold. Payouts are allocated as follows:

  • 55% of the Prize Pool is the jackpot.
  • 15% of the Prize Pool is for the 1st prize of which there are 3 potential winning ticket numbers
  • 10% of the Prize Pool is for the 2nd prize of which there are 5 potential winning ticket numbers
  • 10% of the Prize Pool is for the 3rd prize of which there are 15 potential winning ticket numbers
  • 10% of the Prize Pool is for the 4th prize of which is based on the number of tickets.

How are prizes selected?

All winners are selected by a random number generation system which produces a final Randao Final Number - RNG

How can I be convinced that RNG number is truly random and fair?

Randao algorithm is employed to produce a random number. The process invites any interested persons (registration required) to generate and submit a random number. These random numbers are collected, revealed and a transparent, tamper-proof SHA3 process performed. The full source code and technical details for Randao is available to anyone online here: https://github.com/randao/randao Furthermore, the process has been tested, approved and overseen by NMi.

Can I select my favourite numbers?

Current version has not supported this function yet. This function is planned to be added in the next versions.

How am I notified if I win the prizes?

Current version has not supported this function yet. This function is planned to be added in the next versions.

How are prizes paid out?

A player’s claimed winnings are paid in QGT to the player’s registered Ethereum wallet.

Quanta Lottery is owned and operated by Quanta Technology Limited, 3rd Floor, Goldie House, Goldie Terrace, Douglas, Isle of Man, IM1 1EB and is licensed and regulated by the Isle of Man Gambling Supervision Commission under the Online Gambling Regulation Act 2001 (130833c issued 7th August 2017). Online gambling is regulated on the Isle of Man. Quanta Lottery is available to players aged 18 and over. Terms and Conditions apply. Visit myquanta.im for further information. Online gambling debts are enforceable in the Isle of Man Courts.
Quanta is committed to responsible gambling and access to information and help is available on our website and at GamCare (www.gamcare.org.uk) or GambleAware (https://about.gambleaware.org). Both organisations offer vital support and we encourage anybody who has difficulty in controlling their gambling to contact either or both organisations for further assistance. Remember, when the fun stops, stop!

© Copyright 2016-2019 Quanta Technology Ltd.