Bitcoin Forum

Announcing https://betking.io is for sale.

About BetKing:
BetKing is one of the oldest Bitcoin gambling sites, launched in April 2013, and has since grown to become the most
trusted and one of the most popular Bitcoin gambling sites.

BetKing offers the best provably fair Bitcoin dice (Hi-Lo) game.
Fast and easy to use with the largest max payout of any other Bitcoin dice site, 185 Bitcoin.

Here is the main Bitcoin Talk thread:
https://bitcointalk.org/index.php?topic=910134.0

Over the two years BetKing has become the most trusted gambling Bitcoin site with a crowdfunded bankroll of 6200 Bitcoin.
 
Profit is over 7100 Bitcoin in past two years, most of which is this year.

Why Sell?
I have worked full time on BK for 3.5 years and I have some other projects I would like to pursue.
The right buyer would be able to improve BetKing for existing users and grow much larger than I can do alone.

What you get
The buyer will get full source code to the website, all domains related to BetKing and all social media accounts.
You will also get training and tutorials for running the day to day operations.
I will help you deploy the code to a new server.
I will also offer 2 months free support if you need it. This does not include adding new games/features.

What you don't get
Although currently BetKing has a crowdfunded bankroll a sale would only be made to someone who can provide their own bankroll.
You would want at least 800-1000 Bitcoin to keep BetKing having one of the highest max payouts but it could be less.
Any current investors would be cashed out before transfer of assets.
Any potential personal details of user accounts will be removed.
Gambling License. You will need to check the laws of operating a Bitcoin gambling site in your country.

Serious offers
Only serious offers should be made from buyers who can provide their own bankroll.
Offers should take into account the past profit of 7100 Bitcoin.
You can email admin@betking.io or pm on here. I can provide a pgp key if needed.
Profit/wagered stats for all games will be provided in a detailed report for serious buyers.

If no sale what happens to BetKing?
If there are no serious offers or I feel that the buyer is not going to run BetKing legit or to the standard that players expect then I will not sell and continue to work on improving and running BetKing as normal.
I am not looking for a rushed sale.

Feel free to ask any questions here or on email/site chat etc.

Thanks

Im quiet shocked  on this  news  which  betking.io is already for sale. Its really a  reputable gambling site  after all  these  years. If  you  are  making such  huge profits  why  you   intend to sell it?  If you gonna switch into  another   project , its still better to keep  this site as a  side  business though which  could really maximize  your  income  but  it really depends on the  time  you can  put on.  This  would  be  very expensive  and  i just want to  know what  would   be the initial  bid for this sale? So that other readers  of  potential  buyers  would  see also.

Running a casino is not something you can just leave on autopilot, especially when dealing with others funds (i.e. public bankroll).

Agree with you,  running a casino  would  really consumed  up your  time  because  you will need  to  interact and  need  to be active  most of the time to answer peoples  queries and  any  suggestions and  problems.  Leaving autopilot  is not  possible  for this  kind  of business, if  you have a  plan to  autopilot then  you  should hire someone but  its  not recommendable though. Better to  run it  on your  own.

@How  much  would  it cost  for this  famous gambling site?

Yeah it isn't realistic to run in spare time. If you don't stay active then players can move to other sites.
Even if your actual support time is low you still have to make yourself available to answer in timely fashion and top up hot wallet etc.

Regarding cost, I'm looking for offers and not wanting to put a price out there yet. The current highest offer is 1500 Bitcoin.

That is sure a big offer, but if it all works very well, it probably would be a good investment.

1500 BTC Highest offer? Damn. I'd honestly be interested in participating in a group buy in a fashion much like MoneyPot's :(

Good luck with the sale, hope it gets to the right hands and you come back with a new business!

1500 btc? What the.. Its  too  huge amount   but still a  good  investment for someone  who  would   buy this  site. Profits are  guaranteed for sure.  1500  btc is already 50 million  on   my country  which  i could already  build a  house and   a  decent  life. i think  thats the  highest  offer  for  now  and  OP  would really search for  more for sure. Betking is  a profitable  gambling site. There would  be no regrets on  the new owner.  ;D

This is really shocking news, betking.io is nice gambling site though but its really difficult if you don't have enough time to spare in this kind of business as an owner of the said site.
But I hope you the best @OP good luck to your sale, wish that someone will buy this with a nice man as like as betking.

wow this is huge news!

drama has begun ??? ::)

I don't know what the big deal is :)

As said, it's posted so if someone wants to make an offer I'll consider it.
If no one makes a decent or realistic one I won't sell.

In other news, the site is not going to remain stagnant just because I put it up for sale.

I'm running a promo later tonight where I'll be giving away 4 Bitcoin and a new sig campaign should start in the next few days.

Thanks

We just released an article on the potential BetKing sale. It also includes our back of envelope evaluation of the potential price of the sale.

Read it here: http://bitcoingamblingreviews.com/betking-sale/

We think it is roughly worth between 3,372 bitcoins to 4,215 bitcoins. Of course other people will have drastically different valuations.

EDIT: mistakes changed on some variables - massive one being the 25% changed to 50% of profit taken by the site.

You should never sell anything if think betking is worth that. Please stop pretend you know anything about price. If i was dean i would not sell bellow 5x yearly profit. Try find a bitcoin site that give u more then 20% yearly if you got alot of btc.

No offence but that article has a lot of assumptions and guesswork contained in it.

Have you contacted the owners of BetKing to establish any facts or figures at all?

I like your website which I read often and I also enjoy reading your gambling investment thread on a daily basis but I have to be honest,
that article is quite poor.  

Like I have already said, it contains too much guesswork and speculation.

This is the most inaccurate article about BetKing you could possibly write.

No fact checking or any idea how BetKing works even though you are an investor.

First, the commission is 25% of profit weekly and 25% of edge on wagered. That effectively gives BetKing 50% of all profit.
You also have to consider that at any time I have between 10-20% of the bankroll too.

You state it's 7000 profit in 3.5 years which shows you didn't bother reading the OP.
BetKing was a poker site for a whole year and we didn't really start doing dice until Just-Dice closed in 2014.
So the profit is for a little over 2 years and 4000 Bitcoin of that is this year.
So your estimate of my earnings is way off.

You make a very odd assumption about the running costs too.
BetKing costs a little under £1000 a month to run. That's it. No admin, marketing, wages etc etc.
So think what someone who knows about marketing could do with the site.

Your valuation is made on the assumption that the site would transfer investors over to knew owner which is clearly stated in the ad that this isn't what would happen, for very obvious reasons.

The ad is targeted at someone who would bankroll the site themselves, maybe made up of a small group of private investors. That's the fastest way to make initial investment back and profit on top.

So now. Assume BetKing has made 7100 Bitcoin in a little over 2 years, 4000 this year and then think about just how much it is worth.

I've personally donated a good 30 BTC to the dice bankroll ;)

Very rushed article and it is very late where I am. Apologies for that.

- Article has been changed to reflect the commission structure of 50% not 25%.
- 3.5 years changed to 2 years
- The fact that you have additional funds in the bankroll change nothing for the value of the site stand alone in my opinion.
- Running cost is like that because you run it full time. Sure you pay yourself no salary, but still your time needs a value still.
- I assume the new owner can attract new investors to the bankroll, if not it should have a negative impact on the price.

Glad to hear everyone's opinions on a valuation :) Always glad to change any mistakes or add further information.

Thanks for reading the site :)

Clearly a lot of mistakes in the calcs of this, and assumptions are huge yes. A lot more information would be required for a real buyer.

5x annual profit is an interesting multiple...

ouch  :o

Not really. The site has been offered for sale previously, but since there was no serious offer (afaik) everything stayed the same and there was no drama. Since it's clear that investors' funds are not part of the deal, there's no reason to panic.


So if there are no other offers, will you be considering the BTC1,500 one or is it too low? Was it made by anyone with good trust record?


Not sure has the promo already started or was it just test-run, but I already received an email with promo-code for 0.01 btc. Thanks for that!

There should not be a problem. It s clearly stated investors will receive their funds back BEFORE the sale. If it ever takes place. So no need to spread FUD.

bump

Can you share more details about the site?

What sort of background would the new owner(s) need?

How big is your team?

How much time do you dedicate to the site a week?

What are the real expenses to run the site?

How would the sale work? Escrow system? In person? Legal document in the UK?

Would you sign a non-compete?

Would you offer support to the new owner(s) over a specific time frame? If so how long?

What is the biggest problems you have faced running the site?
 

New owners would probably be better to have a gambling background. Bitcoin gambling even better.

I am the only person working on the site. I have contracted out small jobs before for design etc but no other full time.

I dedicate more than needed since I am constantly checking chat, forums etc but there's not much support needed. Maybe an hour a day to answer any emails, forum posts, chat questions. Hot wallet only needs topped up when there's a large divest or whales winning.

Site costs less than £1000 a month to run. This can be reduced too since I have test servers running for prototypes and things.

I would happily discuss non-compete. If I sell BetKing I wouldn't open another dice site.

In OP I state I would give support for a couple months.

Pay not more than you can earn back in 1yr. And I hope you have tech skills.

Why you are buying it for 5 btc while yoy saying it useless site? And i think those 1500btc is quitely decent amount offered since this dice site got huge investments and players plays on their site thats why they are been named the no.1 since they got good satisfactory rate to their both investors and gamblers, and do you have any proof that they scam anybody here? If yes well show it up, but as looking to your feedback sems you are the one who's been shaddy right here.

Wow. You made everything yourself? That's amazing man.
Have there been any attacks on your bankroll ever? Did you contract whitehats ?

hello betking, just wanted to look at, what would be the appropriate price you would be being to let go, Like an auto/win price?

You're best to pm me an offer and I'll consider it.
Thanks

A few questions i got:
Do you have any data on estimated growth in the next quarter or next two quarters?
Do you have graphs for peak times for users and other statistical data.
What are some of the back end features the site currently offers.
Is there api available and also any form of chat bot or anti spam system to prevent flood?

I have more questions but id like to see your answers for these.

DO NOT WASTE YOUR TIME ON THIS SCAM AND RIGGED SITE.
IT GOT THE LOWEST TRAFFIC, 97% OF THE HIGH ROLLERS THERE ARE FAKE.
DEAN IS JUST PULLING A VERY HUGE SCAM NOW.
I HOPE NO ONE FALLS FOR THIS USELESS CON ARTIST.
BE SMART GUYS.
this will be one of the biggest scams in btc history.
i knew it

People have tried all sorts of hacks on the site. All have failed.
It's been live for > 3.5 years so you quickly fix any major issues early.
It's also great having a community who report potential issues ethically instead of taking advantage in return for bug bounty. Guys like NLNico.

DO you have any proofs? Talking like you are been cheated by this site.Post some proofs not  just making some  bluffs and also no one would  believe you because of  your  negative trust. Betking is a reputable gambling site and doesnt have any issues regarding its fairness.

Nah he's just a troll and he can't show proof that theres anyone whos been compromised by betking itself, and look at his feedback he is on red tag which means he' untrustable, and as i see truly they are on great run wich they sustain for long years and im sure that this site well became more trusted one since no one questioning really their credibility and they got great feedbacks to the people who tried to play at them. He's just a loser and just trolling  as revenge for his losses.

100% trolling which claiming that betking is a rigged site which is not totally true. Ive do play on that site a while now and i could say its a popular one because lots of player will you see there playing.I agree  betking is operating for almost 4 years as far as i remember and until now its still running and gaining profits with its players and i do observe to betking do run with signature campaign which is  really good for recruiting potential players on their site.I dont think  OP is proceeding on his plan to sell the site.

site got lowest traffic and when its sold, the traffic will even be WORST.  BESIDES, 97% of socalled high rollers there are fake.
all you can say is i got a red trust. who gives a fcuk about red trust when someone is about to scam people of thousands of btcs.
the wise ones can see that what am saying is true. deans ass lickers here licking his stanking ass as always.
guys before you think of buying, go check the site yourself. it got the lowest trafic in the game. dont be fooled by the profit figures he gives.
look carefully before you leap

The problem with this claim is that the site gives around 50% of its profit to its investors.

So if the high rollers are fake, so are the losses. In which case is Dean paying the investors out of his own pocket? Or is he not paying them at all?

Neither possibility seems very plausible.

I think the most likely explanation is that your assertion that "97% of socalled high rollers there are fake" is false, and that you are just a troll.

So,this site profited millions of $$???
That shit is just craaazy damn..

BTC Casinos are a good thing lol

Although good luck with sale,this is some crazy site..

Locking topic

You can see the ICO thread here https://bitcointalk.org/index.php?topic=1697106