Do I REALLY need to spell out why this is another ICO that SUCKS! Come on people. Save the cryptocurrency industry and stop supporting ICO's built on speculation, and not on product/team/realistic business model that is not premised on some outrageously high market cap/valuation.

Still applies.

I wouldn't touch anything related to this project. Poorly conceived, another half baked idea with someone thinking they can get rich quick off of others.

Attempting to build an illegal business off of piracy (profit on other people's work). On top of being illegal, this is incredibly shitty to do. Movies and shows that people love are extremely expensive. If you want to enjoy their product, you can cough up the couple bucks a month a Netflix or HBO account costs.

Are people really that stupid that they would trust a pirate with their money? Thankfully it appears not many based on the ICO address.


To sum it up: Not going to bother with a longer review seeing as how little information is provided in their OP, and how straightforward it is: investing in illegal businesses will never end well.

None of your founders have any experience in start-ups: running two blogs does not count (really? You think running a BLOG makes you qualified to run an incubator?)

How do you expect to show others how to be successful when you have not been there yourself? Ridiculous. Another project that has a founder with a background in Forex trading: The way that reads to the non-gullible is someone that traded in their spare time. Tell us what firm you worked for otherwise. Regardless, you clearly weren't very good at it.

What professional contacts do you have that you would be able to direct a start-up to? You do realize that the biggest advantages to incubators is are the following:
1. It centrally locates a lot of entrepreneurs (almost all require working in a community work space), which stimulates creative growth, allows for possible synergies between young companies and possible access to talented recruits. Adel would not be able to do this.
2. People running the incubator have a significant rolodex: a start-up needs advice on "xyz"? Not a problem. Start-up looking to partner with existing giants? Not a problem. Who exactly would you be able to point people to?
3. Incubators usually only provide start-ups with a small amount of funding (depending on incubator might not even be a full seed round), but have contacts with VC's who come in for pitch-days. Most start-ups join an incubator purely with the goal of getting from seed fund to a Series A round. You are not able to do this.
4. Typically, incubators have sponsored partners that provide start-ups with massive benefits (free hosting, cheap consulting etc.), what benefits will start-ups through Adel be receiving?


Unfortunately, the crypto-currency industry is filled with two types of people: Essentially lottery winners (people who had a horde of Bitcoin in the early days, this was luck for 99% of people. Very few (i.e. Roger Ver) actively saw Bitcoin's potential), and then you have all the "get rich quick" people that came after Bitcoin started to take off. These people invest in tons of what is frankly dog shit. So hey, your project might still raise some money.

To sum it up: Would avoid.

You said you will fund up to 30 BTC of the bankroll. Not even close to enough. Players like to martingale, you can't martingale with a max win that low.

10k bets is a small amount (right now at about 12.5k), most sites do many times that daily. The only thing that actually matters is volume, which for some reason is not publicly available.

Hold on: You are paying yourself a salary? On top of keeping 70%? Seems you are trying to double dip in every possible scenario. Trying to keep 70% of the edge so to speak (along with 70% ownership of 2k BTC you previously did not have) is just crazy.

Now onto the ICO: This would not be a bad ICO, if the valuation was much lower. Even a 4kBTC would be generous. BetKing is unique in the sense it doesn't have many players, but the players it does have are whales. Its hard to believe there are many whales out there that will be losing the massive sums they have in the past. Just as it happened with PrimeDice (AKminer), it will happen with Bet King. They will eventually lose everything, or they will quit. As others have pointed out, Bet King previously had slots, a sportsbook etc and they did not perform well. How does Bet King plan on acquiring users for a sportsbook? A bankroll of 2500 BTC is of suspect size for a sportsbook. For many casinos, sportsbooks actually lose money, and they are merely draws to attract users to their other games. It adds a whole new element of risk to the bankroll, and the swings would be massive. Unlike with dice where a player can impulsively instantly place another bet and lose out, that is not the case with a sportsbook. Then there are regulatory concerns that should not be swept under the carpet. To price Bet King at 4x last years revenue is... just wow. After taxes, all of the development you plan on doing etc, the number quickly stacks up to an even longer period of time for ROI.

Sum it up: Not the worst ICO you could invest in by any means. Unfortunately, the valuation puts this at a completely unacceptable risk/return ratio.

Seems you are the one that is not able to read. Also smooth ad hominem because someone brought up a valid question (though to be fair, it it wasn't spelled out fully).

Here is how I, and I assume most rational people took this guy's comment:

Unproven casinos:
BetBase, and thus any casino that uses it, is brand new to the market. You have to convince people to leave casinos that they have trusted for years. Not easy thing to do at all, and frankly your reputation in the community is not the best, the scripts you sell were buggy/abused/hacked frequently.

No bankroll
You have no bankroll. The fact that your bankroll is centralized is irrelevant, what it comes down to is your bankroll is so small that players will not bet on your site. You would need to raise a serious amount of money in order to compete with your competitors.

No users
You said you just passed 10k bets? Most cryptocurrency casinos are handling hundreds of thousands / millions of bets daily. You clearly do not have an active user base. You have not detailed any user acquisition plan, and do you really expect site operators that cannot afford their own software/bankroll to be able to afford marketing plans to attract users?


Lets sum it all up, and its pretty clear: You were late to the birthday party and all the cake is gone. The market is way to crowded and established at this point.