LETBET

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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 trusting a third party that is potentially corrupt would result in a biased outcome. Smart contracts that automatically reward all the key contributors — 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.

1. What Is A Betting System?
   A betting system is a crucial arrangement — created after an investigation of prior wins and misfortunes that builds players’ odds of winning more wagers in less time. On the other hand, the unceasing truth of betting is that no betting system works all the time. The systems are constantly loaded with chances. A betting system may at first appear like the player is cash. Be that as it may, over the long haul, they would not see much contrast in their misfortunes than if they hadn’t connected to a betting system. There are three distinct sorts of betting systems:

positive betting system
in this system, players increment their wager each time they win. this is the best of the three systems as it doesn’t expect the player to have a major add-up to begin the diversion1.

negative betting system
some players wish to wager much higher each time they lose. they do so with a desire to recuperate past misfortunes in a single winning wager. it requires a more significant bankroll and a solid heart to follow this system, and is consequently, viewed as a more unsafe betting system than the alternatives.

Insurance betting system
in this betting system the player diminishes their wager each time they lose. this is a more secure betting option and is viewed as a perfect betting method.

LetBet Vision

To provide a seamless, secure, and secure non-secure online gambling platform supported by blockchain.

The end user (player) is the central LetBet system. So all games will be written in smart contract, where no one can control the game. We provide fair and fairly random games for every player.

Our platform extends to developers interested in bringing their business models through our platform; and bets to join and build a new online gambling platform that is powerless, seamless, secure, fast and supported by blockchain.

And the most important part is that our blockchain is not limited to online gambling, but can be used for many other purposes. This, like all other blockchains, is a completely open source, hyperledger free and secure that can be used to accommodate various other products.


Solution LETBET As Plaltform
What team LetBet has brought to the table by eliminating or resolving existing issues as identified above, especially those unique to the online gambling industry.

LetBet DTrawalization System
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.

The LetBet Achilles product

Unique LetBet concept — SMART P2P CONTROL

Unlike others, it’s not just P2P-Based Smart Games, but tailored to the online gambling industry in a way that will simultaneously help third-party online gambling developers, and end users (players).

With our P2P smart contract, since the game starts, to the point where your results are viewed and the funds sent, you remain anonymous and secure through smart contracts with the blocking system.

User LETBET Game Flow

Seamless Flow of Gaming: Enjoy a seamless gaming activity without the usual distractions. With our concept, you just have to look around the game you want, pick it up, activate your wallet on it, make a deposit (through smart contracts in seconds), play and end the game, then pull your funds into your wallet anonymously.

THE DEVELOPMENT OF ONLINE BETTING.
Online betting includes games such as poker, clubhouse and other conventional games played over the internet. In 1994 when online gambling became popular, numerous countries limited online betting while some others construed it an illegal venture or practice. However, some regions in Canada, some European countries, and a few Caribbean islands allowed online gambling as a legal venture or practice. Since then, the online gambling industry has grown to what is now, valued at 500 billion USD. It continues to increase at a steady rate, with some indications that it will grow to 1 trillion USD by 2021

With the development of internet and mobile technology, the online gambling industry is forecasted to experience a boom in the near future. The online gambling industry consists of many business models and technologies, which include:

1. Sports betting: Betting on sports event (soccer, horse racing, hound racing e.g.)
2. Online Poker: Service provider receives profits from wagers.
3. Casino Games: Slot machine and roulette which are operated in a manner similar to a traditional land-based casino.
4. Online Bingo: Online version of the ageold game
5. Online Lottery: Same as regular Lottery, but operated online.

The key vendors in the Online Gambling Industry include: 888 Holdings, GVC Holdings, UniBet group, William Hill and many others, which operated from the traditional business model. According to statistics, William Hill is the market dominator in the UK with market share of 15%.

Revenue Stream Of LETBET

As the description above to emphasize where the revenues will be generated for the platform owner — LETBET. This section will provide transparent details about how LETBET operate a Zero Fee platform with a high margin of profit from Operators and other parties in the ecosystem.

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

FUND ALLOCATION

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

PRIVATE SALE DETAILS
We offer limited private sales to those with strong faith in our mission and business model. Individuals, especially Bookmaker, Developer, Game Provider, are highly welcome to join our private sale. Please do check our website, our FAQs section or you may also drop us a message to partner@ let.bet for more information.

PRE-SALE DETAILS
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 noted 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 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 sell at a price of $0.6

Crowdsale details
A maximum of 70M coins will be issued during the crowdfunding. The LetBet crowdfunding will kick off fully on the 25th of Feb, 2018 with an open sale that will last for 30 days.
 — The first 20% LBT will sell at a price of $0.8
 — The next 20% LBT will sell at a price of $0.9- The next 20% LBT will sell at a price of $1- The next 20% LBT will sell at a price of $1.2- The next 10% LBT will sell at a price of $1.4- The next 10% LBT will sell at a price of $1.5

Roadmap

WhitePaper : Here

Join Us :
Website : https://let.bet

Telegram : https://t.me/LetBetCoin

Facebook : https://facebook.com/letbetcoin

Twitter : https://twitter.com/LetBetOfficial

Github : https://github.com/letbetcoin

LinkedIn : https://www.linkedin.com/company/let-bet/

Penulis: mohamad sahwi
https://bitcointalk.org/index.php?action=profile;u=1838748;sa=summary