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

[BetKing.io]

I pretty sure that you would be able to raise the full amount in the ICO period. betking seems promising and investing additional funds can take it to the next level.

I just wanted to know if there is a minimum limit or amount to invest like 50/100$ at least. I am small fish in the ocean full of whales. lol! would help if there is not minimum limit.

I think 0.01 or 0.001 could be a good minimum amount. Would like feedback on that.
Also should there be refunds allowed in the 1st 3 weeks of ICO if > 2000 is reached?

[markisanon2434]

I pretty sure that you would be able to raise the full amount in the ICO period. betking seems promising and investing additional funds can take it to the next level.

I just wanted to know if there is a minimum limit or amount to invest like 50/100$ at least. I am small fish in the ocean full of whales. lol! would help if there is not minimum limit.

I think 0.01 or 0.001 could be a good minimum amount. Would like feedback on that.
Also should there be refunds allowed in the 1st 3 weeks of ICO if > 2000 is reached?

0.01 BTC is pretty good minimum amount to start with. What about a refund if 1000 BTC is not reached? you seem optimistic to collect 2000 bitcoin in your previous posts. I think 2000 btc should not be a problem for betking.

[DarkDays]

You can't just divest your shares from the company if you mean by selling them back to me for Bitcoin.
But we will setup a trading platform either on site or with coin exchanges where shareholders can trade.

Right, I meant if I wanted to sell some or all of my shares privately to another investor/investors, I wanted to make sure you'd facilitate that.  I've heard of other such programs where the people selling made the buyers "lock in" to their shares and wouldn't let them sell to anyone.

I think 0.01 or 0.001 could be a good minimum amount. Would like feedback on that.

Doesn't really matter to investors what the minimum is.  If I invest 1BTC and someone else invests .000001BTC that doesn't bother/affect me as long as the shares are divided proportionally.

Also should there be refunds allowed in the 1st 3 weeks of ICO if > 2000 is reached?

Since the money is going to you and not to fund a bankroll, it's up to you.  Obviously for investors the less total invested the better (because each share will be less diluted) but if you don't cap it at 2k then that would mean that the market value for each share is higher so theoretically we'd be able to recoup that money on the open market.  

But, the best thing for the investors would be if you maintained a hard cap and if you went over 2k, to free up more shares so that you maintain the ratio of 1BTC invested = 15000 shares.

[BetKing.io]

You can't just divest your shares from the company if you mean by selling them back to me for Bitcoin.
But we will setup a trading platform either on site or with coin exchanges where shareholders can trade.

Right, I meant if I wanted to sell some or all of my shares privately to another investor/investors, I wanted to make sure you'd facilitate that.  I've heard of other such programs where the people selling made the buyers "lock in" to their shares and wouldn't let them sell to anyone.

I think 0.01 or 0.001 could be a good minimum amount. Would like feedback on that.

Doesn't really matter to investors what the minimum is.  If I invest 1BTC and someone else invests .000001BTC that doesn't bother/affect me as long as the shares are divided proportionally.

Also should there be refunds allowed in the 1st 3 weeks of ICO if > 2000 is reached?

Since the money is going to you and not to fund a bankroll, it's up to you.  Obviously for investors the less total invested the better (because each share will be less diluted) but if you don't cap it at 2k then that would mean that the market value for each share is higher so theoretically we'd be able to recoup that money on the open market.  

But, the best thing for the investors would be if you maintained a hard cap and if you went over 2k, to free up more shares so that you maintain the ratio of 1BTC invested = 15000 shares.

Yeah you're right about the market value and also refunds add some other issues too so I won't have a refund option.

[BTCSpearo]

Why such short notice for the crowdsale? How can you expect anyone to mull over an investment decision or do any legitimate due diligence? I'd love to invest in a gambling project but not on this time frame.

[BetKing.io]

Why such short notice for the crowdsale? How can you expect anyone to mull over an investment decision or do any legitimate due diligence? I'd love to invest in a gambling project but not on this time frame.

The main target for this ICO is the current BetKing bankroll investors. We have been talking about this kind of idea for around a month.
The bankroll investors are being divested on Thursday and some would like a new investment to be part of so this is the best time.

That is why there's no major ICO advertising being done here. There's 6000 Bitcoin leaving BetKing on Thursday and we're looking to raise 2000.

[win win win]

I have many questions,

What are the ETA on sports betting rollout, casino etc?
Which casino software will you be going with?
What type of promotional structure will you use? welcome bonus, VIP club, free bets etc?

With the structure of the investment, Will you accept cancellations before Jan 1st for early investors?
That is my biggest issue, A BTC2000 investment makes a valuation of BTC6666 for the total site, A BTC5000 total investment means the site needs to be worth BTC16,667 to make it a break even investment?

[BetKing.io]

I have many questions,

What are the ETA on sports betting rollout, casino etc?
Which casino software will you be going with?
What type of promotional structure will you use? welcome bonus, VIP club, free bets etc?

With the structure of the investment, Will you accept cancellations before Jan 1st for early investors?
That is my biggest issue, A BTC2000 investment makes a valuation of BTC6666 for the total site, A BTC5000 total investment means the site needs to be worth BTC16,667 to make it a break even investment?

The ETA right now is not set in stone for any product. All will be completed in 2017 though, as early as possible.
We will use our own in house developed casino software.
We used other companies before and they don not provide provably fair games and can actually cheat you without you being able to prove otherwise. House and player.

I'm not setting a marketing strategy yet either. I have done basic promos like these in the past. However I will be getting professional marketing help moving forward. A previous investor has put me in contact with some great people with a lot of industry experience for to help with this.

I am not going to allow cancelations or refunds.
If the site raises more than the 2000 then that is more money to use on marketing and dev.
Which means products are released faster and more traffic is generated which means faster ROI.

Thanks

[user27]

You might want to reconsider your dividend period. IMO 3 months is quite a long period to wait and many others would think the same too. Right now your site is offering instant withdrawal from investment, so i think that something around fortnightly dividends would probably do the trick.

[V1saya]

Betking expanding its brand is great news. I just read this yesterday evening. I am currently trying to analyze some of the terms. One thing I am yet to decide is investing and receiving only 30% of its value. This means that if i'm going to sell my share I need to price it at more than 300% of its value just to break-even my investment, which seems difficult and unwise. I am sure site's maintenance and other expenses will be high due to its added features but I guess it also means more incoming profit. I think 30% profit share to investors is also quite low. Or maybe it's possible that 70% to 80% of the tokens will be distributed to investors to make up with the 30% profit shares. I might be assessing to early on this so i'll be happy reading others opinions. Cheers.

[Helix61be]

Hey, sorry if it is a stupid question,
But what exactly gives value to the shares? I mean how is it decided in case someone wants to sell his shares.
And the three montly dividends, is it payed in btc or in the form as shares?

[BetKing.io]

Hey, sorry if it is a stupid question,
But what exactly gives value to the shares? I mean how is it decided in case someone wants to sell his shares.
And the three montly dividends, is it payed in btc or in the form as shares?

The value comes from the fact that shareholders will be paid dividends of the profit BetKing generates.
The more profit BetKing makes the more value the shares will have on the open market.

[tucenaber]

There is no mention of the price of these shares. I can see two possibilities:

1. Everything above 2000 BTC is returned proportionately to the investors, so for example an investor putting up 20 BTC and there is 4000 BTC invested in total, he will get 20/2000=1% of the shares and 10BTC is refunded.
2. The price for each share is determined purely by demand, our investor with 20 BTC will get 20/4000=0.5% of the shares and no refund of BTC.

Which is it?

[BetKing.io]

There is no mention of the price of these shares. I can see two possibilities:

1. Everything above 2000 BTC is returned proportionately to the investors, so for example an investor putting up 20 BTC and there is 4000 BTC invested in total, he will get 20/2000=1% of the shares and 10BTC is refunded.
2. The price for each share is determined purely by demand, our investor with 20 BTC will get 20/4000=0.5% of the shares and no refund of BTC.

Which is it?

As mentioned the price is determined by demand.

[tucenaber]

There is no mention of the price of these shares. I can see two possibilities:

1. Everything above 2000 BTC is returned proportionately to the investors, so for example an investor putting up 20 BTC and there is 4000 BTC invested in total, he will get 20/2000=1% of the shares and 10BTC is refunded.
2. The price for each share is determined purely by demand, our investor with 20 BTC will get 20/4000=0.5% of the shares and no refund of BTC.

Which is it?

As mentioned the price is determined by demand.

I can't see that mentioned but thanks for the clarification. I guess I'm out then. For now at least.

[hua_hui]

There is no mention of the price of these shares. I can see two possibilities:

1. Everything above 2000 BTC is returned proportionately to the investors, so for example an investor putting up 20 BTC and there is 4000 BTC invested in total, he will get 20/2000=1% of the shares and 10BTC is refunded.
2. The price for each share is determined purely by demand, our investor with 20 BTC will get 20/4000=0.5% of the shares and no refund of BTC.

Which is it?

As mentioned the price is determined by demand.

I can't see that mentioned but thanks for the clarification. I guess I'm out then. For now at least.

What is going to happen is that there is no fix at 2000btc. If betking is manage to raise 4000btc and you contribute like 40btc which is 1%, you will get 1% of the share. If betking mange to raise 2000btc, you contribute like 40btc which is now 2%, you will get 2% of the total share. So you will realise that if the raise amount is more, you will get less share but your share will worth more. But if it is raise less, you get more share but each share will worth less. But do take note that in the end, the share will be determine by the market, so you are exposed to trading risk.

[lorylore]

Hey, sorry if it is a stupid question,
But what exactly gives value to the shares? I mean how is it decided in case someone wants to sell his shares.
And the three montly dividends, is it payed in btc or in the form as shares?

It is determine by supply and demand. At first, you will be given shares and by calculating how many btc you put in and the share given, you can find out the cost of each share and that would be usually the starting price of the market. However, demand or supply in the market will change over time so the price of the share will go up or down.

[housebtc]

I want to ask if the ICO raised more than 2000BTC, the Betking.io will still hold on to the 70% of the shares or they will release part of their shares to investors.

[icorating]

Hello all,

We are the ICORating team.

We’re creating the most detailed database of every company that is having, or planning to have, an ICO. We’re also developing ratings and analytical reports that will increase potential investors’ awareness on such companies.

We’re happy to announce that BetKing.io is now listed on our website. Check it out here http://icorating.com/project/27/BetKing.

We appreciate any feedback. Please feel free to contact us if there are any additions/corrections you want to insert.

[BetKing.io]

I want to ask if the ICO raised more than 2000BTC, the Betking.io will still hold on to the 70% of the shares or they will release part of their shares to investors.

This has been answered about 10 times now. Including in the posts above. I'm going to start assuming any newbie accounts are spam to try and get their post count up to be able to join sig campaigns and delete them. We don't need constant noise in this thread.

Thanks