Jamie Jewitt posed with Camilla
(Picture: Dave Benett)A Love Island star has helped launch a new “crypto lottery” with a weekly $1 million jackpot.
Jamie Jewitt, who was a contestant on the third series of the show in 2017, is one of the founding shareholders of the Lucky Block lottery.
It will go live at the end of April with contestants entering a daily draw with a guaranteed winner takes all jackpot of $1 million on Fridays and smaller prizes of $200,000 to $400,000 on the other nights of the week.
The chances of winning the lottery are about 40,000 to one.
Contestants buy $5 tickets through a smartphone app using a new a LBlock token created for gaming or other cryptocurrencies.
There are already 47,000 holders of the currency valuing it at more than £260 million.
Mr Jewitt, 30, said other games and raffles will be developed on the platform once the main draw is established.
Ten per cent of the proceeds of sales will go to charities chosen by players in a vote. The first week’s charities are all working with victims of the war in Ukraine.
Mr Jewitt added “Lucky Block will provide players with much better odds of winning, whilst also contributing to good causes and the community. Players can also invest in Lucky Block and see a return on their investment as a token holder.”
Mr Jewitt, who describes himself as a “substantial shareholder,” in the business is a long standing friend of its founder and chief executive, City fintech analyst Scott Ryder.
Mr Ryder said: “The Lucky Block lottery will be operating on the Binance Smart Chain which is extremely secure, and because we don’t have the overheads from ticket sales kiosks and vendors we can offer our players much better odds, more games, bigger prizes and quicker payments.”
