What is LetBet ?
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.
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.
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.
LETBET 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.
How to create LBT wallet ?
LBT wallet is an open-source & client-side tool. You could use the cloud-based version https://wallet.let.bet or download and use it locally.
Here are the steps to create a wallet on https://wallet.let.bet
1). Select [NEW WALLET] in the main menu on the top.At this step, you will be asked for entering a password which is used to unlock your wallet.
- Your password must be at least 8 characters in length
- Click [Create New Wallet] to create your wallet.
2). If your wallet is created successfully, you can see the address and private key of your wallet.
3). Due to the fact that we won’t keep any information about your wallet, So there are some important notes you should keep in mind.
- We cannot recover or restore your wallet in case of losing your private key by any means.
- Backup! Backup your wallet.
- In order to backup your wallet, you either can keep your raw private key in somewhere or download encrypted private key as a json file by clicking (Save Encrypted Wallet)
Getting started to play SportBet ?
To be able to play games on our gambling system, you must
- Have an LBT wallet, check this article.
- Make sure that you have a positive balance in your wallet by buy LBT or request an LBT Bonus.
- Login or Connect your wallet to gambling system: You can login to gambling system with the account which you created on ico.let.bet
- Deposit to gambling platform.
Now, you can see that there are lot of matches to place a bet. You can choose the matches you are interested in by some filters
- By country
- By form of betting: Decimal Odds, Asian Handicap, Over & Under.
At the moment, only Decimal Odds (1×2) is available, the others are under development.
For those who dont know what the Decimal Odds, Asian Handicap, Over & Under betting is, check these articles for detail information.
- Decimal odds
- Asian handicap
- Over & Under
Let’s take the match between Besiktas vs Bayern Munich as an example:
Besiktas vs Bayern Munich
Besiktas win: 6
Draw: 4.33
Besiktas lose: 1.5
Let’s say, you will bet for Bayern Munich to win at the odds of 1.5 and your stake is 1 LBT. And here is what you must do:
Firstly, select the [1.5] button in the column named Lose.
Secondly, enter your stake ( the amount of LBT) you wish to bet.
Right after you entered your stake, it shows the amount of LBT you will get in case of winning. In this case, you will have 1.5 LBT in return(Stake: 1 LBT, Profit: 1.5 LBT)
Finally, click (PLACE BET) to confirm.
It will take few seconds for your bet to be accepted.
Okay, you have just placed a bet for Bayern Munich to win.
Our system will take over everything for you from now on. By the end of match, your profit will be updated automatically.
You also can track your bet by looking at the session named [Your Transaction] in the bottom right.
And this is a video tutorial of this project :
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.
- 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
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.
- For users : LBT will be used as the coin to play various games on our platform.
- 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.
- 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.
- For hosters : Hosters would also make use of the LBT to host a single game for other players to play.
- For developers : who want to develop their own game and submit to our platform.
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
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
The Team
Advisor as 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.
Casino Advisor as 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.
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.
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.
For more details, you can visit our below :
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