LetBet

LetBet is set to create a revolution in the online gambling industry

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.

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, still lurk within. These have, over time, formed to become a major problem faced by the industry. Some of them are highlighted below.

 CONCEIVABLE ISSUES

The online gambling industry is filled with lots of perceptions and views from both the players and regulators who are closely observing the industry. Some of these perceptions will be discussed below, as well 

with how LetBet will correct issues with the introduction of our peer-to-peer system, eliminating unfairness and questionable trust system.

 ILLEGAL TAX AVOIDANCE

Illegal tax avoidance is one reason some countries reject online gambling, especially in those which lack the mechanism to monitor or are unwilling to check the activities of the online gambling industry. Similar to the claim on illegal tax avoidance, some others see the online gambling industry as a means to easily launder cash. 

FREQUENCY OF BETTING MARKET 

According to the result by surveys of Gambling Commission of UK (1) with the groups of Gambler, who just joined the betting activities for the latest 4 weeks of 1st Quarter - Each year since 2014 until 2017 show us the positive statistics of the market as below:

The predicted statistic of LETBET platform in the per ICO Stage Worst Scenario

The number of total Revenue Value is based on the worst Scenario when LETBET just have:

 • 1 Revenue Stream from commission based method with Operators.

 • The Commission is 3% even the market’s value is around 5-10%.

Letbet take advantages on the Raised Fund with the Marketing Budget Allocatted around 15% of total Raised Fund to raise number of users for Platform. 

So in the timeline from Pre-sales to Crowd Sale stage, LETBET have the target to acquire more than 2,000,000 users from Marketing Budget.

 With the increasing of Marketing Budget, Power of Advanced Digital Marketing and focus on the right markets … The cost for user acquisition will be lower along the aggressive marketing timeline.

More information visit the link below :

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