Today a solo miner of Bitcoin hit the jackpot today, 19th of August, finding Bitcoin's 803821 block. With a reward of a whooping 6.25 Bitcoins. At this time, this is 162841.25$
https://explorer.btc.com/btc/block/803821
Operating at around 1PH of hashrate, the miner successfully cracked the 277th individual block with the help of Solo CK Pool. An administrator for that pool said that a miner of this size would typically accomplish a solo block solution on average once every 7 years with the present difficulty level. In June we saw another solo miner using CKPool hitting a block. It was then shared by the team behind that a miner with such magnitude would typically solve a block approximately once every 450 years on average.
Bitcoin miners earn BTC by presenting the accurate hash (a sequence of mixed characters and numbers) for a specific block, this way they gain the privilege to choose and validate transactions. Mining rigs produce aa large array of guesses when they try to get one being approved. A larger numbers of rigs lead to increased guesses and bigger chance for substantial block rewards (alongside transaction fees).
Is there a better lottery than this?