LetBet is here to bring revolutionary change to online betting. The main goal of this company is to create a platform that can build an innate trust in a potentially corrupt system for people to win games, get rewards and fair gambling. Some system will be replaced by smart blockchain technology in a trustless, borderless, secure and fast online gambling system that will benefit all. The gambling trade has stagnated and also the online gambling section would doubtless not be a lot of changes. For more details here is the whitepaper link: https://static.let.bet/whitepaper.pdf
What is a betting system?
Almost every adult know about betting, a betting system is a kind of arrangement that is made up from the investigation of prior wins and misfortunes that builds players odds of winning more wagers in less time. On the other hand, the universal truth about betting is that no betting system can work all the time. These betting systems are constantly loaded with different chances.
There are three distinct sorts of betting systems:
Positive betting system: In this system, players increment their wager every time they win. This is often the simplest of the 3 systems because it doesnt expect the player to possess a significant add-up to start the diversion.
Negative betting system: Some players want to wager abundant higher anytime they lose. It needs an additional important bankroll and a solid heart to follow this method, and is consequently, viewed as an additional unsafe dissipated system than the alternative ways.
Insurance betting system: As opposition the primary kind, during this sporting system the player diminishes their wager anytime they lose. This can be a safer sporting choice and is viewed as an ideal sporting technique.
Structures of online betting
The internet has come up with many different approaches to betting structures. Updates and changes from the mid-twentieth century to present day have changed the gaming industry with the introduction of video lottery terminals, keno, scratch cards and more.
Types of online gambling
A lot of gambling-type is present on the internet. LetBet will not be providing all types of betting but the main types will be available the platform. Some of them are explained below:
Poker: Online poker tables are here to offer, Seven-Card Stud, Razz, Steed and other kinds of poker games that are played on the internet.
Game betting: Games betting is the action of anticipating the outcome of sporting events and putting a bet on the result. Usually, the bet happens in cash.
Lotteries: Most lotteries that happen are offered and controlled by the government. The part of the government-controlled lottery played online is referred to as an online lottery and is a part of the online gambling industry.
Horse racing: Horse racing is an equestrian form of sporting activity that involves two or more horses ridden over a distance.
Mobile gambling: This type of online gambling does not involve cash or liquid asset, instead of that gamblers use a remote device such as a smartphone to place a bet on the internet.
General information and problems of online betting
Online gambling has become very popular after the internet came along in the lives of people. Here is some discussion about online betting and its problems. The official website of LetBet is https://let.bet/
General information about online gambling
Online betting aka Web betting inbuilt with games such as poker, clubhouse and other conventional games that have been played all across the internet. In 1994 online gambling started gaining fame, many countries accepted online betting, on the other hand, some other countries declared it as an illegal venture.
The problem of online gaming
In spite of the significant growth of the online gambling industry, early issues that made some countries to accept, and the others to reject the idea of online gambling. These countries have been marked by becoming a major problem faced by the gambling industry. Some of the problems are:
Some conceivable issues come to mind
People can avoid taxes illegally
Change of player senses
The lack security
Trust issues
Slow pace
Trade and bet unreliability
The LetBet solution
The issues that are related to the traditional online gambling systems cannot be overemphasized, because of their quantity. From the beginning of a game selection, the generation of random numbers and the payout system that the industry provides involves a complex process which affects all the players there is. LetBet came up with good solutions to solve these problems.
The benefit of the LetBet decentralized system
The LetBet platform came up with some benefits so that people from anywhere can participate in the betting games without getting into trouble. Here are the 2 main benefits that the platform provides in case of online betting.
Anonymity: Bitcoin has become so much popular in the past few years, it is because of the internet privacy that can provide. Bitcoin is a cryptocurrency that allows any person to participate in online transactions anonymously without leaving a trace of information of either party any kind of transaction. Each party on a blockchain system is represented by series of codes. So if anyone plays online games with the LetBet platform, the chances of their transaction being tracked are close to impossible.
Freedom and flexibility: A significant advantage of the decentralized system of LetBet platform is freedom and flexibility. Because this is an online betting platform that is conducted through blockchain technology not the network of computers.
Background and significance of blockchain
Before the modern times, TCP/IP protocol was an important way of communication around the globe. Then after a long time, a new way of communication can in the world which is known as the internet. This technology has given people around the world more ways to interact and connect, which made the online gambling industry to be digitized and tokenized.
Blockchain revolution
LetBet is proud to be the one who brings change in the industry of online gambling. The primary objective of LetBet is to make sure that a decentralized system is made where any barrier and central authority is eliminated, and where players can get fast services and secure payments with online betting.
What LetBet platform has to offer?
Here is a chart showing LetBet offers:
Product architecture
Here is a graph that shows product architecture of LetBet:
This side is viewing the concept of how the LetBet platform can run.
P2P smart contract
Here is the LetBet smart contract concept:
Market opportunity & business model
It the current age the online gambling industry is a huge industry with various exciting prospects. Below that there are some signals to back up our claims coupled with our business model.
Roadmap
Here is the LetBet roadmap:
To be concluded, LetBet is the platform which gives gamblers a new way of gambling through cryptocurrency. However, the idea of gambling using cryptocurrency is the safest because of the privacy payment of cryptocurrencies.
Visit LetBet fromthe following Links:
Telegram: https://t.me/LetBetCoin
Twitter: https://twitter.com/LetBetOfficial
Facebook: https://facebook.com/letbetcoin
Github: https://github.com/letbetcoin
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2683151.0
LinkedIn: https://www.linkedin.com/company/let-bet/