LetBet Project

HALLO Dear all community, in this blog I will introduce about LetBet project is platfrom based Online Gambling, and for more details let's just go to the following Topics:

LetBet is set to create a revolution in the online gambling industry. Our aim is to create a platform that creates an innate trust in a potentially corrupt system for one to win a game (players' view), get rewarded (developers' view), and fair gambling (the service providers' view) through a decentralized system is replaced by smart contracts through blockchain semantics in a trustless, borderless, secure, and fast online gambling system that benefits all. In a typical online gambling system, players rely on a trusted third party to carry out the game. But with LetBet's concept, there is no need for trust, because we believe that a third party is potentially corrupted would result in a biased outcome. Smart contracts that the game developers, referrers and operators of independent platforms necessary for the game discovery - now replace the trust a typical player had in a third party.
The gambling industry, as a whole, has stagnated and the online gambling segment would likely not be much different. A major solution to a fair gambling system that would bring it close to its future is a decentralized gaming platform.

The LetBet team hopes to champion a system by employing technological know-how to address the perceived issues in the industry.

The online gambling industry consists of many business and technology models, which include:

1. Sports betting: Betting on sporting events (football, horse racing, hound racing for example).

2. Online Poker: Service providers receive the benefits of betting.

3. Casino Game: Slots and roulette machines are operated in a manner similar to a traditional land-based casino.

4. Bingo Online: Online ageold game version

5. Online Lottery: Same as regular lottery, but operated online.

Key vendors in the Online Gambling Industry include: 888 Holdings, GVC Holdings, UniBet groups, William Hill and many others, operating from traditional business models. According to statistics, William Hill is a market dominator in the UK with a 15% market share.

GAMING ONLINE PROBLEMS
Despite the significant growth of the online gambling industry, the initial issues that some countries accept, and others deny the idea of online gambling, are still lurking inside. This, from time to time, formed into a major problem facing the industry. Some of them are highlighted below

RELATED CONCEPT CONCEPTS:

The online gambling industry is filled with the many perceptions and views of both players and regulators who closely watch the industry. Some of these perceptions will be discussed below, as well as how LetBet will fix the problem with the introduction of our peer-to-peer system, eliminating unfair and questionable belief systems.

solutions
The issues within the traditional online gambling systems can not be overemphasized, because they are numerous. Starting from game selection, the random number generation and the payout system of the industry involves a rigorous process which affects the player most. Problems such as this is humongous and complicated, especially for the industry has always been that way, and may possibly remain so without the interruption of a blockchain based online gambling system. Information about the pros of a decentralized (blockchain based).

Anonymity - Each player, playing only with their skill level and not as a result of prior knowledge of the game
Freedom And Flexibility - an online betting platform that is done through smart contracts rather than on a centralized network of computers.

This section will show you what the online gambling industry is about.
knowledge of the game. This is different from the fiat system, e.g; using other online gambling platform where you would need to fund your game with a fiat-based credit card that would reveal your private details. While in the LetBet payment automatic gateway, all your transactions are totally anonymous.

The LETBET Solution As Platform
The LetBet team has eliminated the online gambling platform by creating a blockchain-based gambling platform that is trustless, borderless, safe, fast and extremely secure.

The system is decentralized and hence unhackable. Games are written in Smart Contracts, removing the prevalent â € œhouse advantageâ € ?? that is seen in other physical or online casinos. The end result of any game depends completely on either luck or the expertise and experience of the player and has nothing to do with an unfair system.

The platform affords complete anonymity. This helps players from regions where betting is illegal to also enjoy safe and secure betting and online gambling. Winnings are in tokens that can be easily cashed out.

BLOCKCHAIN REVOLUTION.
We are proud to be the enablers of change in this industry by building the next generation of online betting that focuses on the end user (Player) and not the service provider. Even though we will provide the platform on a smart contract with other third-party developers to leverage on, the end goal is to secure a decentralized system where gambling experience.

With the act of creating a new blockchain, based on the Ethereum protocol, with custom features to meet the decentralized, transparent and trustless system.

PRODUCT ARCHITECTURE

COIN DISTRIBUTION

A total of 199M coins will be distributed in the following order:

1. 50% coin will be issued in ICO.

2. 15% coin will be reserved for third-party developers.

3. LBT will hold 15% coin

4. 20% coin will be used for audit, bounty, affiliate program

1. 30% allocated to platform development
2. 20% allocated to betting development
3. 20% of marketing, legal & professional costs
4. 20% allocated to a reserve
5. 10% of operation & other costs

Note: Please send in your requests for bonus from ICO site. 0.1 LBT will be transferred to your wallet (this option is only open for the first one hundred thousand users). Please check your transaction on the LBT Explorer, where you can see any other instruction in the knowledge base. Please be aware that in this phase we will also develop some simple Sports Betting games
(see in Roadmap) so that you can use bonus coins to play. Please use Felix unit to bet (1 LBT = 1000 Felix) and enjoy.
BTC or ETH can buy LBT and we will add some bonus for first purchases just above. The value of BTC or ETH will be counted from the time you finish the order as seen on coinmarketcap.com.
A total of 20M LBT will be issued during the pre-sale. The presale will kickoff on the 20th Jan 2018 and end on 14th Feb 2018. We will limit total coin you will be able to buy during our pre-sale. Please check the table below for more information.
• The first 35% LBT will sell at a price of $ 0.4
• The next 35% LBT will sell at a price of $ 0.5

• The rest 30% LBT will at a price of $ 0.6

Initial Coin Offering (ICO)