LETBET as a gambling center from all corners of the globe that uses a blockcchain technology system in the future

Hi Everyone !

I will notify the gambling project that uses the smart contract P2P program is LETBET. Let's talk about this project.

Introduction

LetBet is an online gambling platform that aims at providing a trustless, borderless, secure, anonymous and fast online gambling platform with zero fee, seamlessly for all participants in a typical online gambling system powered by the LBT blockchain.

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.

The gambling industry, as a whole, has stagnated and the online gambling segment would likely not be much be different. A major solution to a fair gambling system that would bring it close to its future is a decentralized gaming platform.

VISION

The goal of the project is to create a platform with innate trust in a potentially bad system for one in winning the game (the player's view), getting reward (developer's view), and fair gambling (the service provider's view) through decentralized systems replaced by smart contracts through semantic blockchain in an online, trusting, unlimited, secure, and fast online gambling system that benefits everyone.

What is a betting system ?

The betting system is an important arrangement made after an inquiry about previous wins and misfortunes that build the player’s chances to win more bets in less time. On the other hand, the truth that never stops betting is that there is no bet system that works all the time. This system is continually filled with opportunities. The betting system initially appears like a player as cash. However, in the long run, they will not see much difference in their distress than if they are not connected to the betting system.

There are three different types of betting systems:

1. Positive Beta System

In this system, players increase their bets whenever they win. This is the best of the three systems because it does not expect players to have a great addition to start redirects.

2. Negative Beta System

Some players want to bet higher every time they lose. They do so with the desire to restore the past misfortune in a winning bet. This requires a more significant bankroll and a strong heart to follow this system, and as a result, is viewed as a more unsafe betting system than its alternatives.

3. Competitive Systems Insurance

Unlike the first type, in this bet system players reduce their bets each time they lose. This is a safer bet option and is seen as a perfect betting method.

The definitive point of betting to win cash. As far as the bet already exists, the individual has aimed to utilize techniques and systems to increase their chances of winning. This fundamentally human instinct is an intelligent endeavor that everyone does when taking advantage of their cash, whether it's on a card change, dice, or the consequences of a sporting event.

Structure of Online Betting

Betting has been one of the most well known and lucrative internet-based businesses. Gambling commission industry statistics show that between April 2015 and March 2016 online gambling operators generated a Gross Gambling Yield (GGY1) of £4.5billion.

This is due largely to the extensive variety of betting alternatives that are available to entice a wide range of players.

An article by Darren et al, essentially an overview recorded in Australia, demonstrated that the most well-known types of betting were lotteries (46.5%), keno (24.3%), moment scratch tickets (24.3%), and electronic gaming machines (20.5%).

Types of online gambling

There are many types of gambling. Not all of these will be present on our platform, but a number of games will usually be introduced in our platform following the LetBet roadmap. We are open source, other game developers can sign up with us to make a list of their games, which will be played on the LetBet platform in line with our goal.

Some online gambling games that need to be considered as follows :

1. Poker

Online poker tables ordinarily offer Texas Hold’em, Omaha, Seven-Card Stud, Razz, Steed and other kinds in both competition and Money making structures. Players play against each other instead of the “house,” with the card room profiting through “rake” and competition expenses.

2. Club

There is an extensive number of online clubhouses in which individuals can play gambling club games like roulette, blackjack, pachinko, baccarat and numerous others. These games are played against the “house” which profits since the odds are stacked in its favor.

3. Game Bets

Game betting is an action to anticipate the outcome of a sporting event and place a bet on the results. Typically, the bet is cash.

4. Bingo

Bingo is an online version of the bingo game, where players have to match their pre-printed card numbers with different 5x5 settings. A player wins the Bingo when the selected number that is summoned by the host is arranged sequentially on their card.

5. Lottery

Most lotteries are often monopolized by the government and are heavily protected from competition because of their capacity to create substantial and repeat streams of income. Individuals or private organizations may be authorized to control the online lottery with a smaller country.

Most private online lotteries have ceased to operate because the law gives the government a lottery advantage. Part of the government-controlled lottery played online is referred to as the online lottery and is part of the online gambling industry.

6. UK National Lottery

UK National Lottery is an online gambling organized by Camelot Group. UK National Lottery is considered the most popular online gambling in the UK. It is reported by the Telegraph (online media) that 70% of adults in the UK often play National Lottery.

7. Horse racing

Form of riding sports activities involving two or more horses that are driven over long distances. Horse racing depends on economic relevance through betting and the most common is online betting. Horse Racing is also a popular game found in many bets that offer various online games.

8. Mobile Gambling

This type of online gambling involves players who use remote devices like smartphones, tablet computers, or mobile phones to play games over the internet.

9. In Play Bets

Betting in the game is a type of online bet that allows players to bet with the game once it starts. Many bets refer to inplay bets as a straight bet. Betting inside play allows players to place bets after considering the outcome of the match up to that point. For example, in a soccer league, a client can bet on which players will get the following yellow card, or which group will be given the next corner kick.

10. Store Stakes

This as an online betting type on the results of horse races where betters are only allowed to bet once their accounts are funded and can be played over the internet or on their phones.

General information

Online betting (or Web bets) includes games like poker, clubhouse and other conventional games played over the internet. In 1994 when online gambling became popular, many countries restricted online betting while some interpreted it as an illegal business or practice. However, some areas in Canada, some European countries, and some Caribbean islands allow online gambling as a business or legal practice.

Since then, the online gambling industry has grown to what it is now, worth 500 billion USD. It continues to rise at a steady rate, with some indication that it will grow to 1 trillion USD by 2021.

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

1. Sports bets are betting on sporting events (eg soccer, horse racing, camel racing)
2. Online Poker as a service provider receives the benefits of betting.
3. Casino Games is a slot and roulette machine operated in a manner similar to a traditional land-based casino.
4. Bingo Online is an online version of the ageold game
5. Online Lottery is an ordinary Lottery, but operated online.

Solution

The LetBet team has removed or resolved an existing issue on the online gambling platform by creating blockchain based gambling platforms that are unreliable, seamless, secure, fast, and highly secure.

The system is decentralized and therefore can not be hacked. The game is written in Smart Contract, removing the usual ‘home advantage’. which is seen in other physical or online casinos. The end result of any game depends entirely on the luck or skill and experience of the player and has nothing to do with the unfair system.

This platform provides complete anonymity. It helps players from illegal betting areas to also enjoy safe and secure online gambling and gambling. The victory is in a token that can be easily cashed.

Product Architecture Letbet

Unique LetBet concept using Smart Contract P2P

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

With our P2P smart contract, starting from the time the game starts, until you can find and manage, you remain reliable 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.

Revenue Stream of LETBET

Initial Coin Offering (ICO)

Affiliate Program Bonus

PRE-ICO Program

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.

1. The first 35% LBT will sell at a price of $0.4
2. The next 35% LBT will sell at a price of $0.5
3. The rest 30% LBT will sell at a price of $0.6

Coin Model LETBET

LBT is the coin that will be used throughout the LetBet platform.

Below are some of the specific functions of LBT to the LetBet platform.

1. For users : LBT will be used as the coin to play various games on our platform.
2. For bookmakers : Bookmakers who intend to participate on our platform, would need to do that by simply making a minimum deposit (of about, lets say 10.000 LBT) to our SmartContract to provide their games.
3. For bookmakers/game providers : LBT will also be used by bookmakers and game providers to buy games already developed by our developers and available on our platform.
4. For hosters : Hosters would also make use of the LBT to host a single game for other players to play.
5. For developers : who want to develop their own game and submit to our platform.

Coin Distribution Letbet

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

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 LETBET

Core Team

Jitendra Rathod (India)
Advisor is Content Manager

Jitendra is a B2B and B2C marketing writer and content strategist. He has worked for many companies working in different sectors life sciences, finance, law, blockchain, online gambling and many more. He is passionate about the immense opportunities that blockchain technology affords us and is hopeful of a better tomorrow that is truly democratic. He loves to write and research about blockchain technology’s ability to touch every aspect of human endeavor.

Bill Healey (US)
Casino Advisor is Business Development Manager

Bill is a well-known international journalist with over three decades of experience in the fields of hospitality,casino gaming and leisure. He has successfully opened new markets for several western companies and now he works for let.bet to connect more bookmarkers, game providers with the LBT platform.

Awais Bajwa (UK)
Gambling Regulation Advisor & Legal Services Director

Awais Bajwa is a licensed attorney University of London. He has robust experience of working in a variety of industries while providing legal services including, Information

Technology, Corporate & Commercial, Insurance and Civil law. He has also been providing legal advice to his clients based in USA, UK, EU and Australia through online legal services marketplaces. He was awarded with Gold Medal in Constitution Law for his distinction. He was also the captain of the winning team of “Jurist of the Year” competition held in 2009. His rich experience serves let.bet well as he smoothens legal creases and guides the team effortlessly through the myriad laws and regulations of online gambling.

Aleksey Batishev (Russia)
Online Gambling Advisor and European Expansion Manager

Aleksey is an astute business development manager with a robust background in the field of online gaming and gambling. With more than 15 years of professional working experience in different segments of the online gambling industry, he has successfully become part of outstanding innovations in the online gambling space. He is the International Moderator of the Gambling Portal Webmasters Association (GPWA). Currently, he is the Business Development Manager for LetBet and help expand LetBet’s business in the Russian and Eastern European Markets.

There are also more than 12 developers, designers, UX experts who are working tirelessly on the LetBet BlockChain and Betting Platform to bring to you the best product as soon as possible. If you believe in our vision, please mail us at contact@let.bet. We are looking for passionate and creative individuals to take the revolution forward.

For more information details:

• WEBSITE : https://let.bet/
• REPORT : https://static.let.bet/whitepaper.pdf
• FACEBOOK : https://facebook.com/letbetcoin
• TWITTER : https://twitter.com/LetBetOfficial
• LINKEDIN : https://www.linkedin.com/company/let-bet/
• TELEGRAM : https://t.me/letbettelegram
• GITHUB : https://github.com/letbetcoin
• ANN THREAD : https://bitcointalk.org/index.php?topic=2683151.0

Author by Dico88