LetsBet represents a new type of software platforms: is a truly decentralized application (DAPP), running on the Ethereum blockchain. This means it can be downloaded and played from anywhere in the world without having a corporation behind it to run the service! You can even run the entire platform on your own machine, just by being connected to the Ethereum Blockchain. A centralized server is no longer needed.
There is no need to pay any bookmaker or trust the casino management… the games on the LetsBet platform run autonomous on a software architecture which is entirely transparent, every interested party can view the code. Should our website www.letsbet.io be down – for example because some hackers or some law enforcement agencies blocking the domain – you can keep playing on it and your funds are safe from hackers or the authorities. Your identity, your data and our platform are protected. Since there is no LetsBet database which holds information on players, there is no way to track who is doing what and we store nothing besides the data of the bets and prices. After its launch LetsBet doesn’t depend on any human involvement at all to run. It will run as planned since code is law in our smart contract powered application.
In essence, LetsBet is a blockchain based, decentralized P2P betting exchange. It is a automated match-making platform, where people could challenge each other, for example to bet on the results of games, to predict the correct scores or prices of stocks, currencies or any other asset you can imagine… As the entire booking process is run by smart contracts, there are little to no maintenance and operation costs. There is no need for service personal reviewing players accounts, asking for identity, KYC or any other personal details. There is no connection to your bank account or credit card. Our virtual robots, smart contracts written in the solidity programming language on the Ethereum blockchain, processes all required tasks.