LuckyBit
English
English
  • 🀞What’s LuckyBit
    • Official Link
    • X
    • Telegram
    • Youtube
  • ✨Getting Started
    • Setting up Your wallet
    • Supported Chains
    • How to Start Guide
    • Fair and Clear System
    • Swap & Bridge Guide
  • 🎰Betting
    • Chainlink VRF
    • Games
      • Coin Flip
      • Slots
      • Mines
      • Dice
      • Plinko
      • Horse Racing
    • Game Contract
    • Bankroll
  • 🎁EVENTS
    • Events
    • [END] LuckyBit Launch Event
  • πŸ“•disclaimer
    • Responsible Gambling
    • Risk and Security
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  1. Getting Started

Fair and Clear System

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Last updated 4 months ago

LuckyBit provides its services through a fair and transparent system powered by decentralized smart contracts.

  1. LuckyBit publishes game odds and fees in the DOCS, and all game results can be verified on each chain's Scan site.

    1. For detailed DOCS:

  • In LuckyBit, betting ratios are not determined by the proportion of assets a user holds. Instead, the user's assets are applied to the Kelly Criterion to calculate the optimal betting ratio.

LuckyBit uses Chainlink's Verifiable Random Function (VRF) solution to prevent hacking or tampering during the transmission of game results. Chainlink's VRF solution, the first in the blockchain gaming industry to receive GLI-19 compliance certification from the independent gaming certification lab BMM Testlabs on September 5, 2022, ensures the transparency of LuckyBit's game outcomes. Details about Verifiable Random Function (VRF):

Kelly based bankroll management :Luckybit employs the Kelly Criterion to manage bankroll effectively and ensure optimal betting strategies for users. This sophisticated approach balances risk and reward while maintaining the platform's long-term sustainability. Details about Kelly Criterion :

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https://luckybit.gitbook.io/luckybit/betting/chainlink
https://luckybit.gitbook.io/luckybit/betting/bankroll
https://luckybit.gitbook.io/luckybit/betting/games