To start with, LetBet aims at revolutionizing the online gambling industry and creating a new trustful platform which will give benefits to both players and developers as well as service providers. It is going to be a decentralized system because only a decentralized gaming platform can be the best solution to a fair gambling system which will bring it closer to its future. Moreover, LetBet is based on smart contracts and blockchain technology. These technologies will provide its users with a high level of security, trust and transparency. A great number of technological know-how will be employed in order to address the current issues in the industry.

The perceived problems in the gambling industry and how LetBet can solve it

Nowadays there are a lot of problems connected with the online gambling industry. First is the existence of a trusted third party. While carrying out a game, all players should rely on an intermediary agent. But if you join the LetBet platform you will not need to have any third parties because smart contracts will replace them. Consequently, there will be no intermediaries who are always corrupt. In turn, with the help of smart contracts game developers, referrers and operators will be rewarded automatically. Another problem is some conceivable issues. Some players and regulators often complain about unfairness and questionable trust system. LetBet will eliminate these challenges introducing its peer-to-peer system.

To other current problems related to the gambling industry refer:

• frequent cases of illegal tax avoidance (it exists in those countries where there is a poor mechanism of monitoring and checking the activities of the online gambling industry, so a lot of people can launder cash with the help of it)
• player discernment (it means that when sometimes a player plays with another player remotely he or she can worry whether it is a real man or not)
• security (players are afraid about the level of security when they play a game because when an incident happens they can not only lose their money that they have won but also someone can get their confidential information including bank account details and others)
• trust (the online gambling industry works based on the code which is generated from a closed-source system and its developers can change this code within the system, so the players worry about it)
• providers are more interested in getting the money and information from the players but not in providing them with the high-quality games
• unreliability.

But the LetBet system differs from it and can give a solution to all problems enumerated above. First of all, there are fewer chances for intruders, because it is impossible to hack the blockchain
system which this platform is based on. Then smart contracts provide the clients with transparency, efficiency and security. All in all, everything is based on smart contract powered by the blockchain technology beginning with where the user chooses the game and ending at the point of payment. The Main ICO has already started and will end in about 6 days.

More information visit:
Website: https://let.bet/
Whitepaper: https://static.let.bet/whitepaper.pdf
Facebook: https://www.facebook.com/letbetcoin
Telegram: https://t.me/LetBetCoin
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=360063