The platform itself is understandable and simple. Only the question remains in all countries whether it will function?
LetBet is a online gambling platform and i guess everyone can be able to access it in each countries. Perhaps USA and china has the issue for ICO programmes so till the ICO phase, letbet may not work there but it can surely serve peoples in each nation once they are a successfull project ahead.
If it's a fully decentralized system how would you prevent anyone in the world from accessing the platform? ICO participation is another story, but using the platform itself once it is up and running will be possible for everybody.