[ANN] BetKing.io ICO - Bitcoin Gambling website - 581.4 BTC raised so far

[BetKing.io]

[Web] [Blog] [Twitter] [Facebook] [Bitcointalk]

BetKing.io ICO Crowdsale

STARTS: December 1st 2016 at 0:00 UTC

ENDS: January 1st 2017 at 0:00 UTC

Funds raised so far: 581.4 Bitcoin

About BetKing:
https://betking.io 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 with over 397,000 Bitcoin wagered and earned over 7200 Bitcoin profit.

I am looking to make BetKing and Bitcoin gambling grow even bigger and inviting you to be part of it and share the success.

Stats:

• Launched April 2013
• 397,500 Bitcoin wagered
• 7258 Bitcoin profit
• 353,000,000 bets
• 8500 accounts

Why should I invest?
BetKing is one of the most well known Bitcoin gambling sites and has been the most profitable crowdfunded site with over 7200 Bitcoin profit in the past 2 years alone.

It has seen the most wagered volume of all other crowdfunded gambling sites, more than almost all others combined.

This popularity and profit has been from one game and very little marketing.
Our simple to play provably fair dice game.

We are looking to raise investment so we can develop more products including our own provably fair casino games such as blackjack, slots and roulette.
Funds will also go towards developing a sports betting platform, poker software as well as a host of other gambling related products and services.

Due to the success of BetKing and the previous crowdfunded platform I now have many contacts in the industry who are experts in each of these domains who we would work with to build the best products possible.
 
With your help we can market each of these products to grow BetKing into the leading Bitcoin gambling destination.

Note: BetKings bankroll was previously funded by crowdfunded investment which totalled 6000 Bitcoin. From the 1st of December BetKing will be privately funded and all current investors divested.

Shares:
BetKing will create 100,000,000 tokens (100 million) to to represent 100% shares of BetKing, currently owned fully by me.
No new tokens will be created.

30,000,000 (30%) of these tokens will be be sold to investors during the ICO period and distributed at the end of the fund raising period.

The remaining 70,000,000 (70%) will remain in the ownership of me as my 70% equity in BetKing.

The funds raised by selling these shares will be loaned by me interest free back to the company to use for expenses and bankroll.

Threshold: 2000 Bitcoin
If the crowdfunding campaign fails to reach the goal of 2000 Bitcoin invested all funds will be returned.

Early investor bonus:
Early investors will get a larger percentage of the shares from the crowdsale meaning their coins will have more weight or purchasing power towards the percentage of shares you receive.

Week 1 = 10% bonus - December 1st 2016 at 0:00 UTC to December 7th 2016 at 23:59:59 UTC.
Week 2 = 5% bonus - December 8th 2016 at 0:00 UTC to December 14th 2016 at 23:59:59 UTC.

Distribution:
ICO starts at December 1st 2016 at 0:00 UTC and ends at January 1st 2017 at 0:00 UTC.
After the ICO has ended, 30,000,000 shares will be distributed proportionately if the target of 2000 Bitcoin or more is raised.
E.g. if we collect 2000 BTC and your investment is 200 BTC, you'll receive 3,000,000 shares.

These shares will be added to your BetKing account where you will be able to trade with other members on the BetKing website.


Dividends:
We will pay dividends as a share of the total profit (revenue-expenses) generated by BetKing in Bitcoin directly to your BetKing account every 3 months if the total capital is greater than the 2000 Bitcoin loan.
You can withdraw your Bitcoin dividend payment instantly to your own wallet.
This may change to be more frequent, e.g. a month, after the first dividend payment.

For example:
Assume revenue from players losses were 300 Bitcoin in the first three months.
Imagine we paid 5 Bitcoin for fixed cost expenses, 10 Bitcoin on banner ads and 10 Bitcoin on developer contract.
After the 3 months we have 2000 (the initial loan) +300-5-10-10=2275.
275 profit.

So the investors from the ICO would get a dividend share of 82.5 (30% of 275) paid into their BetKing account.
I would be paid 192.5 (70%)

The business would have 2000 Bitcoin left in it from the intial loan.

Another example:
In 3 months players win 100 Bitcoin playing dice.
We paid 5 Bitcoin as fixed expenses (server, cloudflare etc).
We spent 10 Bitcoin on some banner ads.
We spent 10 Bitcoin on a contract developer.

After the 3 months we have 2000-100-5-10-10=1875.
-125 profit.

So there are no dividends to be paid as there was no profit in this time.

The business would have 1875 Bitcoin left in it and no dividends would be paid until this amount was over 2000 again.


What the funds be used for:
Most of the funds will be used for but are not exclusive to:

• Bankroll for players to bet against.
• Development of new products.
• Marketing

Exit Strategy:
If BetKing were to be closed for any reason or lost market share to where it stopped generating profit then the initial loan would be paid back to me and then any extra funds left in the business not paid out as dividends yet would be split 30% to investors and 70% to me.
Any assets including the software could be sold and 30% of the sale price distributed to investors.

HOWEVER if BetKing was forced to close suddenly within 3 months of the ICO then all existing funds in the business at that point would be used to pay investors back as close to their full initial investment as possible before I took any share.

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price after the initial loan is paid back to me.

Proof of funds address:
https://blockchain.info/address/1FFweGFja9VGXXB11JA4eExZGGFaS5zjzj


How to buy shares:
To buy shares during the crowdsale period you need to sign up or login to https://betking.io and deposit the Bitcoin you wish to invest, or use the existing balance you have.
You should then visit the invest page which will be live on at the start date of the ICO and enter the amount of Bitcoin you wish to invest then click invest.

If you have any questions feel free to ask by posting here, private messaging or emailing support@betking.io.

Thanks

Dean
CEO BetKing.io

[1713446262]

1713446262

[1713446262]

1713446262

[1713446262]

1713446262

[1713446262]

1713446262

[1713446262]

1713446262

[szafa]

No info about bounty.

[BetKing.io]

No info about bounty.

Good catch.

I have removed the bounties as we don't really need them like other ICO's might as we are well known and have a lot of previous bankroll investors who would probably be interested.

[Paidi]

Do token can be  traded in the exchanger? or can be used to gamble in Betking.io ?
You should add on about this

[puremage111]

Good luck! So basically Investing = ICO?

[BetKing.io]

Do token can be  traded in the exchanger? or can be used to gamble in Betking.io ?
You should add on about this

If we do alt coin or counterparty route we will look at getting the coin listed on an exchange.
I am not sure about the legality concerning allowing them to be gambled with on BetKing though so I can't comment or say that that would be something we do.

[biteboy]

Cool official website ,i like it.https://betking.io/

[topesis]

Another Betting project ICO, I think people are looking at the success of projects like Vdice and want to take advantage of this, Betting market is huge wishing the best.

[ultrloa]

Then how could you advertise then? if you dont need those bounty hunter? I think bounty hunters can help spread the word for this project and as you can see ICONOMI and other ICO project make some noise and notted by investors since bounty hunters make some noise to social media's aswell as here, but if you cant afford to hire bounty hunters help well this should be more interesting on how you could get more investor. 

[Persepolis]

Dean - i made a withdrawal from the site (its pending, its rather large, i dont know if your hot wallet would cover it) - but this was before i read this thread. is it possible for you to cancel the withdrawal? just for sake of speed. If not, it doesnt matter, i can just re-deposit. figured id save myself the transaction fee if possible.

User Name: BTCINVEST1

[Capefear]

it's the ico week? a lot of ico in the past days, it will be hard to chose which one buy in But I like to bet and this one could make me bet! moon!!

[Densitymax]

An interesting project, something on similarity with vDice, I think would be a good idea to take part.

[Paidi]

Another Betting project ICO, I think people are looking at the success of projects like Vdice and want to take advantage of this, Betting market is huge wishing the best.

But a few weeks ago Betking ready for sale https://bitcointalk.org/index.php?topic=1676311.0
So I do not understand why they opened ICO OP may be able to explain it here

[puremage111]

Another Betting project ICO, I think people are looking at the success of projects like Vdice and want to take advantage of this, Betting market is huge wishing the best.

This might be a better ico project, as this project has been running for years and already made profit

[BetKing.io]

Dean - i made a withdrawal from the site (its pending, its rather large, i dont know if your hot wallet would cover it) - but this was before i read this thread. is it possible for you to cancel the withdrawal? just for sake of speed. If not, it doesnt matter, i can just re-deposit. figured id save myself the transaction fee if possible.

User Name: BTCINVEST1

Will do. Thanks

[BetKing.io]

Then how could you advertise then? if you dont need those bounty hunter? I think bounty hunters can help spread the word for this project and as you can see ICONOMI and other ICO project make some noise and notted by investors since bounty hunters make some noise to social media's aswell as here, but if you cant afford to hire bounty hunters help well this should be more interesting on how you could get more investor. 

It's not a problem with not being able to afford it at all, especially since I could do it is extra shares.

The fact is BetKing currently has 6000 Bitcoin invested and most of those investors are in a group chat on slack and so know about this thread already.
So they can invest a decent amount without me doing any extra advertising.

[BetKing.io]

Another Betting project ICO, I think people are looking at the success of projects like Vdice and want to take advantage of this, Betting market is huge wishing the best.

But a few weeks ago Betking ready for sale https://bitcointalk.org/index.php?topic=1676311.0
So I do not understand why they opened ICO OP may be able to explain it here

It's harder to find one buyer to buy a site for 6000+ coins than to crowdfund investment for less and a share of company.

[asti5034]

cool, great website

[butcherboss]

Cool nice idea. Are you planning on making it a coin and listing on exchange?
And will it be possible to sell the shares if not on a exchange?

[BetKing.io]

Cool nice idea. Are you planning on making it a coin and listing on exchange?
And will it be possible to sell the shares if not on a exchange?

I would be looking at getting a coin on an exchange to allow trade yeah. Or trade directly on the website. These details will be finalised before the end of the ICO.