LetBet is set to create a revolution in the online gambling industry.

celin (25)in #letbet • 7 years ago

What it LetBet?
LetBet is a new project, which aim is to create a trusting environment in a potentially corrupt system, creating a booming revolution in the online gambling industry. In the traditional gambling system, all the players rely on the trusted third party. Very often this third party turned out to be corrupted, leading to the biased outcome. Now smart contracts have replaced the third party that was previously necessary to carry out the game. A decentralized online platform is a right solution to a good and fair gambling system.

LetBet is set to create a revolution in the online gambling indsutry. 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.

VISION

To provide a trustless, borderless, secure, and fast online gambling platform powered by blockchain.
The end users (players) are central to the LetBet system. Hence all game would be written in the smart contract, where no-one could control the game. We provide a fair and sufficiently randomise game for every player.

Problem
Both players and regulators, who are carefully observing the gambling industry, face with numerous perceptions and views
Illegal tax avoidance is one of the key reasons why a lot of countries do not approve the gambling industry
Player recognition is the other problem. It is hard to understand whether you are playing with a real person, especially if it is a game, played remotely from the other location
Security factor. Now all the gambling online service providers work through the centralized network of computers. If something happens or if some hacking incident takes place, all the private confidential info, bank account info and users money will be lost
Remotely played games make a large gap in trust between players in online gambling
One of the biggest problems of the online players is money deposit and withdrawal. These problems are caused by the legislation put on a low transfer and money limit on the players’ fiat cards
All the online gambling service providers are interested in the detailed information, concerning their players. They are aimed to provide maximum safety to their system, protecting it from various cheaters, hackers, and unlawful intruders. Thanks to the LetBet system it becomes impossible to hack the blockchain system which is deployed through the smart contracts
There are some situations when the server shuts down. In this case, the player will be dependable on the host because he would have to start a rigorous process of ensuring a refund of his game

Solution
The LetBet project is designed to solve all the problems mentioned above. LetBet is:

A Trustless Platform
Do not trust the platform, everything is written in the Smart contracts
A Secured Platform
Nobody has access to your wallet. Own the private key to your wallet and store it on your computer or on a cloud-based server, managed completely by you
A Zero-Privacy Platform
All you need is just a wallet
A Transparent Platform
Everything is transparent. From your deposit to the time of game results
A Fast Platform
Fast transactions and service delivery are offered any time you want
An Anonymous Platform
Do not worry about the confidence. You are completely hidden from the Internet
A Reliable Platform
Blockchain technology and decentralized system allow you to play whenever you want without any stress, corruption or the third party interference
Sport Bet Game
With the LetBet online gambling system, players would also have the ability to get involved with or play a range of sports betting game on existing platforms.

LETBET PLATFORM EMPOWERS 3rd PARTY GAMES
With the LetBet online gambling system, players would also have the ability to get involved with or play a range of sports betting game on existing platforms. Platforms such as Bet365, William Hill, BetFair are the ones players can get on with on our platform

New Game Is Available On Platform

SLOT MACHINE GAME POWERED WITH SMART CONTRACT
Written on smart-contract, which will ensure that our random numbers cannot be predicted by any of the parties in a typical gaming system. Our smart contract is fair and open and can be audited anytime.

WHAT MAKE THE GAME UNIQUE?
The fiat-based jackpot slot machine is often referred to as the one-armed machine because one lever often operates them. This makes it possible to exert influence on the game outcome leaving the player impoverished. But with the LetBet system, you play on an open source code platform, where all your wins are added to the Jackpot.

New Games Coming on the Platform

ROULETTE GAME POWERED WITH SMART CONTRACTS
Similar to the slot machine, our roulette will be written on a smart-contract. The user could quickly read the source code and audit the business logic of a particular game.

Initial Coin Offering ( ICO )

The LETBET Solution As Platform

What the LetBet team has brought to the table in way of eliminating or tackling the existing problems as identified above,especially those unique to the online gambling industry. ANONYMITY — Every player,plays simply with their level of expertise and not as a result of prior knowledge of the game FREEDOM AND FLEXIBILITY — an online betting platform that is conducted through smart contracts rather than on a centralized network of computers

The LETBET Product Achitecture

P2P SMART CONTRACT

Unlike others, it’s not just a P2P Smart Contract-Based Game, but that which is customized to suit the online gambling industry in a way that will simultaneously service third party online gambling developers, and the end-users (players).

With our P2P smart contract, from the time when the game was initiated, through to the point where your result is seen and funds remitted, you remain anonymous and secure through a smart contract with the blockchain system.

The LETBET Game User Flow

Seamless Flow of Gaming

Enjoy the seamless flow of gaming activity without the usual disruption. With our concept, you only need to browse the game you want, choose it, activate your wallet on it, make a deposit (through a smart contract in seconds), play and end game, then withdraw your funds to your wallet anonymously.The LETBET Game User Flow

Coin Distribution and Fund Allocation
Coin Distribution

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

50% coin will be issued in ICO
15% coin will be reserved for third-party developers.
LBT will hold 15% coin
20% coin will be used for audit, bounty, affiliate program
Fund Allocation

30% allocated to platform development
20% allocated to betting development
20% of marketing, legal & professional costs
20% allocated to a reserve
10% of operation & other costs
Roadmap

TEAM