LETBET - The Future Of Online Gambling
Introduction
A betting system is an important arrangement - made after an earlier triumphal investigation and the misfortune that builds a player's chance to win more bets in less time. On the other hand, the unrelenting truth of betting is that no betting system works all the time. The system is constantly loaded with opportunities. A betting system may at first seem like a player is cash.
What is LETBET?
LETBET is a platform, an ecosystem for Gambling that empowers Users / Player / Gambler with some Advanced Technology. Provide advanced blockchain technology-based infrastructure, advanced advanced technology compared to traditional ERC20 Method.
The goal of LETBET is to accelerate the gaming experience, 100% of the environment contains for players and operators as well as other participants in the ecosystem and especially, 100% free transaction fees for players and betting transactions.
There are three different kinds of system bets:
1. POSITIVE BODY 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 large add-ups to start redirects
2. NEGATIVE BODY SYSTEM
Some players want to bet much higher every time they lose. They do so with the desire to recuperate past misfortunes in a single winning bet.
3. BREAK INSURANCE SYSTEM
As opposed to the first kind, 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.
STRUCTURE OF ONLINE BETWEEN
The Internet has paved the way for a novel approach to the betting structure. Innovation from the mid-twentieth century to present day has transformed the gaming industry with the introduction of lotto video terminals, keno, early cards and more.
Betting has become one of the most popular and profitable internet-based businesses. the industry of gambling committeesstatistics shows that between April 2015 and March 2016 the online gambler operators produce Gross Gambling Yield (GGY1) of £ 4.5billion.
TYPES OF ONLINE GUIDE
There are many types of online gambling. Not all of these will be present on our platform, but a number of typical games will be introduced on our platform following the LetBet road map. Since we are open source, other game developers can sign up with us for their game list, which will be played on the LetBet platform that is inline with our goal.
1. POKER
Online poker tables usually offer Texas Hold'em, Omaha, Seven-Card Stud, Razz, Steed and other types in both competitions and Money making structures. Players play against each other instead of "home," with the profit card space through "sweeping" and the cost of the competition.
2. CLUB
There is a vast number of online clubhouses where individuals can play club gambling games such as roulette, blackjack, pachinko, baccarat and many others. The game is played against the "home" which is an advantage because of the stacked possibilities supporting it.
3. GAMES BETWEEN
Betting games are 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, in which players have to match the pre-printed number of their business cards with different settings from 5x5. A player wins the Bingo when the selected number is called by the host drafted in a row on their card.
5. Lottery
Most lotteries are often monopolized by governments and intensely shielded from competition because of their capacity to create substantial, repetitive revenue streams. individuals or private organizations may be authorized to control the lottery online with the small countries. Most private online lotteries have stopped operations because the law gives government-owned prominent lottery.
6. UK NATIONAL LOTTERY
UK National Lottery is an online gamble organized by the 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 UK adults play National Lottery often5.
7. HORSE RACING
Horse racing is a riding form of sporting activity involving two or more horse riding on long distances. horse racing hinges economic relevance through bets. And most often, online betting. Horse racing is also a popular game found on many bets that offer a variety of online games.
8. MOBILE CONSULTING
This type of online gambling involves players using remote devices like smartphones, tablet computers, or mobile phones to play games over the internet.
9. IN-PLAY BETWEEN
In-play betting is a type of online bet that allows players to bet a match after it has started. Many bets refer to in-play bets as live bets. In-play bets allow players to place bets after first considering the outcome of the game until then.
10. ADVANCE STORE Betting
This is a type of online bet on horse racing results where bets are only allowed to bet after their account is funded, and either can be played via the internet or their mobile phone.
The online gambling industry consists of many business and technology models, which include:
Sports gambling: Betting on sporting events (Football, horse racing, racing dog for example)
Online poker: The Service Provider receives the benefit of the bet.
Casino Game: Slot and roulette machines are operated in a manner similar to traditional casino-based land.
Bingo online: Online version of the ancient game
Lottery online: Same as ordinary Lottery, but operated online.
Key vendors in the Online Gambling Industry include: 888 Holdings, GVC Holdings, Unibet groups, William Hill and many others, which are operated from traditional business models. According to statistics, William Hill is a market dominator in the UK with a 15% market share.
THE BENEFITS OF THE LETBET THE DECENTRALIZATION SYSTEM
1. Anonymity
One of the main reasons for the popularity of Bitcoin because it is offered is due to inherent privacy. The Bitcoin cryptocurrency allows participants to participate in anonymous online transactions without leaving a trace of information from either party in a transaction. Each side of the blockchain system is represented by a series of codes.
2. Freedom and Flexibility
A significant advantage of the decentralized system as presented by LetBet's platform is freedom and flexibility because it is an online betting platform that is done through smart contracts rather than on a centralized network of computers.
Flexibility and security of the main advantages that come with the use of decentralized systems. Your location is not concerned with the use of blockchain technology. A more independent and decentralized financial blockchain system to give you total freedom of transactions.
OFFER PLATFORM LBT
LetBet's team introduced an untrustworthy, seamless, secure, and fast platform for online gambling backed by blockchain technology.
An untrustworthy platform: You do not have to trust the system, everything is written in Smart Contract. Therefore you do not play games at the mercy of service providers, game developers, bankroll supporters and owners of that platform. You lose because your possibilities are limited and you win just because your chances are high and may depend on your experience with the game.
A Privacy-Protected Platform: You do not need to share any personal information. All you need is a wallet.
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 so on. All we are interested in is that you place your bets, get the results and be rewarded.
Reliable Platform: Thanks to our BlockChurchechnology and decentralization system, you can play whenever you want and stop worrying about corruption or trusting third parties.
Secure bases: Online gambling with LetBet is safe. This means that no one has prior knowledge or access to your online wallet. It's not like the traditional system where the details of your wallet are stored on a secure server that is not completely free from destruction and hacking. With LetBet platform, you are really responsible for your security. You have a private key for your wallet, which can be stored on a local computer or on a cloud-based server that is completely under your control.
Transparent Platforms: Everything is transparent, from the moment you make your deposit, to the time when your game results will come out, you will have it recorded in an eternal way and visible to everyone.
Quick Platform: Through hard work, we have created an optimized platform that ensures fast content and service at any time. On average, the chain in our block takes less than a second to process your request at any given time.
ARCHITECTURAL PRODUCTS
This will show specifically how we will deploy our smart contracts in terms of generation of random numbers, payment systems and the like with help.
P2P SMART CONTRACT
The LetBet concept is unique. Unlike others, it's not just a P2P Smart Based Contract game, but it's tailored to the online gambling industry in a way that will simultaneously service third-party online gambler developers, and end users (players).
USER CURRENT GAME
SPORTS BETWEEN ARCHITECTURE GAME
JACKPOT SLOT MACHINE ARCHITECTURE
Fiat-based jackpot slot machines are often referred to as single-armed machines because one lever often operates them. This makes it possible to use influence on the outcome of the game leaving poor players.
POKER TEXAS ARCHITECTURE
On the LetBet platform, third party developers can also run through smart contracts with us after ICO to launch blockchain based Poker Texas platforms that their online gambling.
Third-party developers will not be the only people to benefit from this Poker Texas gaming platform. end users such as players will also benefit from this after the ICO when we have fully obtained an online gambling license from various authorities and governments, which is currently in the process.
OTHER ARCHITECTURAL MATCHES
MAIN COMPONENT
User Wallet: Each user will be provided with a crypto wallet similar to MEW, Jaxx. Each user can have one or many wallets. Each user will be responsible for managing their private key.
Decentralization Game: This is one of our typical competencies and gives us the obvious advantages over other online gambling service providers. LetBet's system is decentralized, which will make players enjoy a free system that is not influenced by anyone. And this will be provided by LBT or independent developers.
Smart Game Based Contract: This will be developed by LBT or other developers, which provide P2P trusts of decentralized online gambling. After a normal user participates in the game, Betting Amount will be saved and managed by Smart Contract. This SC will be publicly announced on Github from LBT for everyone to know and audit.
Explorer Transactions: With our transactions explorer, it is easy for users to monitor, and recognize transactions that occur on the LetBet system. The transaction in LetBet is public and can not be edited.
Wallet Agency: In addition to features like UserDompet, the Wallet Agency lets users use the MultiSign feature, which reduces the risk of cheating. If one single user needs to withdraw money, they need both their private keys and need to use the MultiSign feature to verify.
Integration Module: An amazing feature of our platform is the integration module, which is a support component provided by LBT so developers can explore data from traditional online gambling or other service providers. For the prize of the Lottery sample, the wager ratio of William Hill, Bet365, etc.
MARKET OPPORTUNITY
In the UK, around 2009-10, 4% of adults have online bets. Between April 2010 and 2011, online betting, managed by the UK Betting Commission, generated $ 913 million, up 5% compared to the previous year.
In 2011, 5000 grow-ups were interviewed and about 11.2% of them had taken part in no less than one type of remote bet in the last month; while about 50% of the respondents had an interest in the National Lottery.
In the middle of today and age, bets were handed out $ 18.08 million, with bingo and gambling clubs reversing $ 36.9 million and $ 480 million each.
Among other areas of the online gambling industry, online betting segments are expected to dominate the market with more than 1000% of the current $ 550m total industry gambling market in 2021. This will amount to $ 946 billion in 2021 or $ 1 trillion of the total bet rate of all time (Juniper's research, 2016).
LETBET CUSTOMER SEGMENT
The LETBET platform is the home of users, where all other parties and even LETBET must provide top-notch services to users, helping users to have the best gambling experience.
Details Definition of each participant in the ecosystem:
Investors: Investors for LETBET are initial investors of personal sales, stakeholders or sign holders who have already invested into LETBET Token. Directly profitable once the LETBET token increases in value, or is listed on a public exchange with high demand from trading.
Government: The party that manages the policy stakes - Gives LETBET permission or LETBET platform operator, protects users, players, gamblers.
users: The most important party in the ecosystem, which will be served by all the other parties to ensure end users must have the smoothest, fastest and untrustworthy service and gambling experience.
operators: Bookmakers or game operators who intend to participate on our platforms, give game bets to users by using LETBET 's advanced games today or even bring their games to LETBET' s platform. Each method will set different service charges imposed by LETBET with the carrier.
Hosters: A party / person in charge of hosting a single game for players, possibly on behalf of the operator.
game providers: game providers provide advanced games for operators, who want to operate the game directly on the LETBET platform - developed by LETBET or game providers without bringing their game to LETBET.
indie developers: Independent Developers who will join to submit their games to the platform, operate the game directly with the user.
LBT TOKEN - THE FUEL OF THE WHOLE PERON
LBT is a coin that will be used across the LetBet platform. It will be used on the LetBet platform to store values, as account units, and as the only means of exchange. LBT plays a major role on the LetBet platform. Here are some of the specific LBT functions to the LetBet platform.
STREAM REVENUE OF LETBET
The details of the allocation of funds obtained will be largely determined in section 7 - CoinModel.
Marketing cost / user
COIN DISTRIBUTION
A total of 199M coins will be distributed in the following order:
1. 50% of coins will be issued in ICO.
2. 15% coins will be reserved for third party developers.
3. LBT will hold 15% coins
4. 20% coins will be used for audit, gift, affiliate program
ALLOCATION FUNDS
1. 30% allocated for the development platform
2. 20% is allocated for bet development
3. 20% of marketing, legal & professional fees
4. 20% is allocated for backup
5. 10% of operations & other charges
DETAILS CROWDSALE
A maximum of 70M coins will be issued during the crowdfunding.
The LetBet crowdfunding will start fully on February 25, 2018 with an open sale that will last for 30 days.
• First 20% LBT will sell for $ 0.8
• Next 20% LBT will sell for $ 0.9
• Next 20% LBT will sell for $ 1
• Next 20% LBT will sell for $ 1.2
• Next 10% LBT will sell for $ 1.4
• Next 10% LBT will sell for $ 1.5
ROADMAP
WEBSITE | Whitepaper| Facebook | Telegram | Github
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