LetsBet ICO Review – ICO Token News
What is Letsbet ?
LetsBet is a completely decentralized betting platform, allowing players to bet on the price of the hottest cryptocurrencies. Everyday there is a jackpot of all the bets for the lucky winner who has predicted the price closest to the real price at 8am and 8pm UCT.
It is censorship resistant, completely autonomous and independent from any human intervention. It is the same breakthrough that made things like Bitcoin and Ethereum possible. Bitcoin and Ether are cryptocurrencies, but LetsBet is a complete match making platform, which runs on the Ethereum blockchain. You can now finally bet on any game knowing that your funds and bets are completely anonymous, safe and secure in a smart contract based platform.
Decentralized – Open sourced, smart contract based trustless platform running on Ethereum blockchain. It could be even hosted on your own machine.
Daily Games – Every day a new game will be played for each of the supported crypto currencies.
Anonymous – We don’t store any of your details on our servers. LetsBet is completely anonymous!
Win-Win – Holding XBET tokens means you will win in bull-markets as well as in bear markets. Because no matter what… gamblers are gambling and holders are “hodling”!
Mobile Friendly – Track and see what is happening on LetsBet with your phone.
Community Driven – As a part of the community you are able to decide in what direction the platform should evolve. If you own XBET tokens you are automatically part of the community.
Letsbet.io is launching a Bounty Program! Promote LETSBET and get XBET tokens for Free! Instead of spending our funds for Facebook and Google Ads, we will benefit our LETSBET users directly. The purpose of the Bounty Program is to the promote the LETSBET ICO. The LETSBET ICO will raise 10.000ETH and become the most popular ICO for crypto traders. The ICO starts in May 2018.The Bounty will be accounted and distributed after the ICO is over. A Bounty Application Form (Google Form) is mandatory for each and every Bounty submission. For example, when you make a retweet, each Retweet requires a separate Bounty Application Form submission. You may check the current state of your Bounty application submission in the Tracker Sheet or in telegram by asking our bot. Only applications submitted to the Bounty program will be reviewed for the Bounty bonus. Leftover Bounty will be given to individuals with exceptional performance. So, please, put in extra effort to win the Community Reward!
Why decentralised betting exchanges are the next big thing
- There is no way for regulators to stop the betting platform — it runs on unstoppable code
- Everybody can enjoy the thrill of winning a crypto- jackpot every day without any signup or registration requirements
- The architecture of the platform is open-source and everybody can rely on fair and transparent rules
Dadadi, dadaDAO: About the LetsBet community
The entire platform is run on autonomous, ethereum-based, smart contracts. It is fair to say that our goal is to make LetsBet the first DAO in the p2p betting space. Without any intervention of a central authority, LetsBet will be virtually unstoppable and 100% owned by the crypto-community. To become part of it, all you need to do is acquire some XBET tokens in the upcoming ICO.
How LetsBet works
Before you start playing:
You need to install Metamask at metamask.io. Everyone who used DAPP like Cryptokitties should be ready to jump right into the game. For all others, please install the browser extension and get yourself some test-money to check our beta-version today. It is free and only takes a couple of minutes to get you ready to play!
- STEP 1: Select the coin you want to bet on.
- STEP 2: Place your bet by predicting the price.
- STEP 3: Follow the leader
Rules of the game
- Every game has: 1) a start time, a 2) “lock time” and a 3) “end time” (jackpot draw)
- Daily games last 24 hours — 1) half of the time is reserved to place your bets, 2) the other to wait for the the jackpot draw when 3) the game ends.
- The winner is selected according to the price forecast as derived from coinmarketcap.com. 90% of the jackpot is paid to the winner, 10% are kept in a pot for XBET Token holders
- You can place as many bets on as many different coins as you want, but all bets must be placed before the round finishes. This ensures that the games are fair.
- Every day at 8am and 8pm UTC the daily jackpot is drawn and a new round of betting starts.The jackpot will be paid out to the bet closest to the price at 8am / pm.
Ticker symbol – XBET
1 ETH – 10000 XBET
Total supply – 100 000 000 (100 Million)
Maximum crowdsale cap – 10 000 ETH
Minimum investment amount – 0.1 ETH
Presale cap – 1000 ETH
Prototype design and proof of concept
Development of Dapp
Design and development of decentralized betting application
Testnet Release sale
Release MVP on Testnet and token sale annoucement
Presale and regular ICO token sale
Launch on Mainnet and exchange listing
Accept bets on special events (FIFA World Cup), UX enhancements, providing multilingual support
Mobile wallet, in-browser built wallet and hardware wallet support
Based on community decisions new games will be released