BetKing.io Investment pitchAbout BetKing.io https://betking.io is one of the oldest Bitcoin gambling sites, launched in April 2013 under the old name of Pocket Rockets Casino.
Since then BetKing has become one of the most popular Bitcoin casinos and dice sites with over 298,000 Bitcoin wagered.
For the past 3 years I have worked alone to make BetKing a success.
2015 was a great year that saw BetKing become the most popular crowdfunded Bitcoin casino with 150,000 Bitcoin wagered, making a
profit of 2900 Bitcoin for the bankroll providers.
The site currently features dice, roulette, blackjack and slot games.
I am looking to make BetKing and Bitcoin gambling grow even bigger and inviting you to be part of it and share the success.
Reason for investment We have identified two areas of potential growth. Firstly we would like to expand BetKing by developing new products including a betting exchange,
a fully featured poker software and a sports betting platform.
Secondly we would like to allow 3rd party developers to create their own unique games and
websites where players can use their BetKing account to safely store their Bitcoin while betting
against the BetKing bankroll.
We believe we could see a huge growth by offering more products under one roof for customers
and are looking for capital injection to hire full time development and marketing staff.
Investment offering BetKing is looking to raise 900 Bitcoin for 30% share of BetKing equity. The existing equity will be
split into 7 million shares and 3 million new shares will be made available for investors. Each new
share will be offered at 0.0003 Bitcoin.
In 2015 BetKing.io had over 150,000 Bitcoin wagered on dice alone and the bankroll providers
made a profit of 2900 Bitcoin. With the current commission setup that would equate to a profit for
BetKing.io of around 1100 Bitcoin per annum with existing products alone.
We have valued the existing equity of BetKing at 2100 bitcoin for this offering with a value of 3000
bitcoin post investment. BetKing is a growing business and has been established 3 years. The
existing equity has been valued at just under 2x estimated profit based on 2015 trading. I feel this is a
fair evaluation and exciting opportunity for investors.
The value of BetKing if it was sold could achieve much higher numbers as there would be an
opportunity for a new owner to provide the bankroll which made profits of 2900 Bitcoin in 2015
alone. With future expansion from this fund raising round we believe the value of BetKing would
increase significantly further.
Current revenue streams BetKing.io profit currently is made up of:
(1) 25% of the edge on all wager amounts in dice, equating to 2.5 bitcoin per 1000 wagered.
(2) 25% of the edge on all wager amounts in roulette, equating to 6.75 bitcoin per 1000 wagered.
(3) 25% commission on the weekly profit from bankroll investors
(4) 100% of profit from Blackjack
(5) 100% of the profit from Slots
Currently BetKing has server and related expenses of around £800 (2.5 btc) per month.
We have identified the following revenue stream opportunities we would like to add to our
platform:
(1) Sports betting
(2) Betting exchange commission
(3) Poker rake
(4) 3rd party site offerings through revenue share models.
We believe the size of the market will continue to grow and will monitor opportunities to add
alternative currencies other than bitcoin to the platform where this is demand.
Accounting and Dividends Each month BetKing will publish its revenue, operating costs and its balance of operating funds.
Post the successful offering of this investment offering BetKing would have 900 bitcoin in working
capital (WC).
If in month one BetKing made 20 Bitcoin from all revenue streams and has a cost of 2.5 Bitcoin
for server and 6 Bitcoin for development then the working capital at the end of the month will be:
900 + 20 2.5 8 = 909.5
If in month two BetKing made 30 Bitcoin from all revenue streams and had a cost of 2.5 Bitcoin
for server and 6 for developer plus 20 was spent on new marketing then the working capital at the
end of the month will be:
909.5 + 30 2.5 6 20 = 911.0
Within 14 days of the end of each month the figures will be made available on a public basis.
At the end of each quarter (3 months) we will look to pay dividends to investors. Where the
working capital has exceeded 1000 bitcoins we would look to issue dividends in the amount of:
0.5 x (wording capital 900).
Example 1:
If the working capital was 1050 bitcoins dividends would be declared at:
0.5 * (1050 900) = 75 bitcoin.
Example 2:
If the working capital was 1020 bitcoins dividends would be declared at:
0.5 * (1020 900) = 60 bitcoin.
Example 3:
If the working capital was 960 bitcoins no dividend would be declared as the working capital is under 1000 bitcoins.
Dividends would be paid to all shareholders equally, so a dividend of 75 bitcoins would represent
7.5 bitcoin per 1 million shares.
In the event of a sale or disposal of the site, then all disposal proceeds and working capital would be immediately divided amongst the shareholders.
Methods of tracking investment There are a few methods that could be used to raise investment and issue shares:
1) Private investor(s)
2) New alt coin
3) Colored Coins
4) Counterparty
5) Allow purchase of shares on the BetKing.io website and link them to your user account
Private investor(s) is obviously the easiest route to go.
A new alt coin would allow the share to be represented by a coin and be traded on an exchange. There could also be a community interest in this.
I need to do more research on Colored Coins and Counterparty but they were both suggested as good routes to take.
I'm not sure of the legality of number 5. If it were OK to do it this way without trouble from the LSE or SEC
then it would be a good method. I'll speak to lawyer about this one.
If you have any questions, concerns or suggestions then post a comment, pm or email
admin@betking.io and I will reply.
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