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 1,350 bitcoins to 1687.5 bitcoins. Of course other people will have drastically different valuations.
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.
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.