Let Bet ICO
Let Bet is a blockchain based decentralized online gaming network that intends to bring innovation in the current gambling system, where the right of players, developers, and service providers is often overridden
|ICO Name||Let Bet|
|Description||Let Bet is a blockchain based decentralized online gaming network that intends to bring innovation in the current gambling system, where the right of players, developers, and service providers is often overridden|
|White Paper URL||https://static.let.bet/whitepaper.pdf|
|ICO Launch||2018/02/25 05:00|
|ICO Closing||2018/03/27 05:00|
|Token Platform||ETH (ERC20)|
|Coins Offered||50% of the total token supply|
What Is Let Bet?
Let Bet is a decentralized blockchain based network that aims to revolutionize the online gaming world. The platform intends to bridge the lack of trust in an accused corrupt gaming system for players to win, for developers to get rewarded, and for service providers to offer fair gambling with the concept of blockchain oriented smart contracts executions. This will not only help players to play and win on fair grounds but also enable service providers to offer gambling services more transparently. With the help of smart contracts execution, developers can also enjoy the payment protection mechanism set in place by the platform.
Let Bet is a blockchain based decentralized online gaming network that intends to bring innovation in the current gambling system, where the right of players, developers, and service providers is often overridden. The platform provides a system where players are the central element of the game and the game is carried out on a random basis in a way that it is not controllable. The platform also welcomes developer who intends to offer their business ideas using Let Bet platform. The key aspect of the platform is that its scope is not limited to just a gaming world, but it also serves as an open source platform that can be utilized to host a range of different products as well.
How Does Let Bet Work?
In current gambling system, players are dependent on the third party service providers (gamblers) to play the game. This is where the players often get mistreated. With the Let Bet gaming solution, players are no more required to trust the untrusted gaming setup. Through blockchain based decentralized gaming system, the game remains fair enough, therefore the possibility of biased outcome is eliminated. The platform reshapes the gambling industry where key parties including players, developers, and gamblers are bound to remain transparent and each involved party receives its due compensation fairly. The platform, therefore, strives hard to restore the lost trust between players and service providers and let people change their perception concerning the gambling industry.
Earn Let Bet Tokens
The ICO planned to issue its tokens following two phases of sales including the pre and main sale. The pre-sale has now been over, people who participated in the pre-sale of the ICO would have not only earned let bet tokens but a bonus as well. Those who couldn’t take part in the pre-sale of the ICO and wish to earn let bet tokens can contribute now since the ICO main sale is currently in progress. Although, there will be no token generated after the ICO ends, however, investors could still earn let bet tokens by having them exchanged against other cryptocurrencies from supported exchanges worldwide.
Buy Let Bet Tokens With E-Wallets
Since BTC and ETH are supported currencies of the platform, therefore, people who wish to buy let bet tokens need to send either BTC or ETH to the platform so they can receive Let Bet tokens in return. Before you buy Let Bet tokens, you must have an e-wallet since both bitcoin and ethereum can only be sent from and received in e-wallets. In addition, Let Bet tokens are also stored in e-wallets, so everyone out there who plans to buy let Bet tokens or any other digital currency are required to open an e-wallet first.
The ICO Distribution
The ICO has started off its token sale on February 25th, 2018. It is expected that the ICO will last for about one month. It will end on March 27th, 2018. There will be a total token supply of 199 Million tokens out of which 50% are planned to be sold during the ICO. We couldn’t find any information on the hard or soft capping of the ICO. Information concerning the minimum fundraising is also not available. The starting price of the ICO is expected to be $0.8.
The ICO plans to distribute its tokens under the following pattern;
- 50% tokens are planned to be distributed to the public during the ICO
- 20% tokens are planned to be distributed to offer Bounty and Referral Programs by the ICO
- 15% tokens are planned to be distributed to third-party developers
- 15% tokens are planned to be held by the ICO itself as Reserves
Funds Allocation (100%)
The ICO plans to allocate its funds generated through the ICO under following proportion;
- 30% funds are planned to be allocated for the development of the platform
- 20% funds are planned to be allocated to the development of the betting system
- 20% funds are planned to be allocated to meet legal, marketing and professional cost
- 20% funds are planned to be kept as a reserve by the ICO
- 10% funds are planned to be allocated to the operations department of the ICO
Unlike other ICOs, the platform plans to offer bonuses following affiliate program. The more referral you bring into the system, the more bonus you earn.
The ICO has following team members;
- Khoa Truong is the Core Engineer at Let Bet
- Jitendra Rathod is the Advisor to the company and also serves as Content Manager at Let Bet
- Bill Healey is the Casino Advisor to the company and also works as a Manager Business Development at Let Bet
- Awais Bajwa is the advisor for Gambling Regulation and acts as the Director Legal Services at Let Bet
- Aleksey Batishev is the advisor for Online Gambling and also works as Manager of European Business Expansion at Let Bet
Invest In Let Bet
After conducting a detailed analysis on the ICO, we hereby conclude the ICO is likely to be successful in meeting its objective. The concept of the ICO is undeniably unique and workable. Although we have some concerns with respect to the information not available about the founding team of the ICO. Still, we feel confident that the ICO will work its way to success. We, therefore suggest, people should take one chance at least and invest in Let Bet. We hope the ICO won’t let people down.