LetBet Platform System

Introduction
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.

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.

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

STRUCTURES OF ONLINE BETTING
The internet has paved the path for novel approaches to betting structures. Innovation from the mid-twentieth century to present day has changed the gaming industry with the introduction of video lottery terminals, keno, scratch
cards and more. 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 £4.5billion3.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%)4.

General Information of Web Betting
Online betting (or Web 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.

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%.

Benefit From Letbet Platform

1. Anonymity
   One of the major reasons for the popularity of Bitcoin since it was offered is because of its inherent privacy. The Bitcoin cryptocurrency allows participants to participate in online transactions anonymously without leaving a trace of information of either party in the transaction. Each party on a blockchain system is represented by series of codes.

What this means is that if you play games online with our platform, the chances of your transaction being tracked are
slim.

1. FREEDOM AND FLEXIBILITY
   Flexibility an security are major advantages that come with the use of a decentralized system. Your location doesn’t matter with the use of blockchain technology. The blockchain system of financial transactions is more independent and
   decentralized to give you total freedom over your transactions.

LetBet Platform Offers

1. A Trustless platform
   You don’t need to trust the system, everything is written in Smart Contract. Hence you are not playing games at the mercy of the service provider, game developer, bankroll backers and the platform owners. You lose because your chances were limited and you win simply because your chances were high and maybe depended on your experience with the game. The bottom line is that game outcomes are not due to prior knowledge or system manipulations

2. A Privacy-Protected Platform
   You don’t need to share any personal information. What you need is just a wallet.

3. An Anonymous Platform
   You are hidden from the internet, our platform is only interested in your optimal satisfaction while placing your bets online rather than focusing on knowing your name, your favorites and soon. All we are interested in is that you place your bet, get the outcome and be rewarded.

4. A Reliable Platform
   Thanks to Blockchain technology and our decentralised systems, you can play whenever you want and cease the worry about corruption or trusting a third party.

5. A Secure Platform
   Online gambling with LetBet is secure. This means that no one has prior knowledge or access to your online wallet. This is unlike the traditional system where details of your wallet are stored on a secure server that is not entirely free from
   destruction and hacking. With the LetBet platform, you are totally responsible for your security. You own the private key to your wallet, which can be stored on your local computer or on a cloud based server that is totally under your control. You only need to deploy your private key or upload your wallet from your local computer to initiate a game.

6. A Transparent Platform
   Everything is transparent, from the time you make your deposit, to the time when your game result will be out, you would have it recorded in a way that is immutable and visible to every
   person.

7. A Fast Platform
   Through hard work, we’ve created an optimized platform that ensures fast content and service delivery anytime.
   On the average, the chain in our block takes less than a second to process your request at any given time. By fast, we mean, it is easy to open account, get coin, and play; easy to deposit or withdraw; our blockchain is customized to execute transaction faster.

More information you can also visiting this links :
Website : https://let.bet/
Whitepaper : https://static.let.bet/whitepaper.pdf
ANN Thread : https://bitcointalk.org/index.php?topic=2683151.0
Bounty Thread : https://bitcointalk.org/index.php?topic=2684253.0
Facebook : https://facebook.com/letbetcoin
Twitter : https://twitter.com/LetBetOfficial
Github : https://github.com/letbetcoin
Telegram : https://t.me/LetBetCoin

Created by:
Username bitcointalk : trysetya11
Link profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1686500
Ethereum Wallet Address : 0x24F26311B28E86523DB5f34BbF69cb63f331D403