BetKing.io - BKB token REFUNDS - $70k refunded so far

[JollyGood]

This website at Betking has caused immense issues for ICO investors being of the dubious manner in which they were sold something that quite frankly was not all it was made out to be.

The person who did all that was Dean Nolan, the owner and operator of Betking.

Since a few of us have started asking him questions regarding the way he became a millionaire overnight thanks to the ICO in September 2017 but which left investors out of pocket, he has started to panic. Some new and coming soon games are now being offered on the Betking website, the "new" roulette is exactly the same one he had previously plugged in and removed because it was a failure and then need an ICO to allegedly pay developers for  

Dean Nolan has stepped up his PR campaign using the same ICO funds received to try to manage the damage to his failed Betking website. Tragedy really, moreso for the investors that lost everything while Dean Nolan does not even feel he has to account for how and where the ICO funds were spent.

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[game-protect]

It's obvious game-prtotect and jolly good are the same person.

12 messages in a row of just them two posting within a few minutes of each other with no one else discussing. Especially lacking any actual token holders in this thread.

If you look at their post history too they both said positive or neutral things about BetKing until I said game-protect could not be an affiliate of BetKing.

You said weeks ago that Game Protect can not participate in your new affiliate system. And even though you scammed all your affiliates with deleting the statistic of all lifetime referred players I did not say anything against you or opened a scam accusation, because I do not care about your incompetent run casino.

However, opposed to the affiliate issue, your investment scam draw my attention after Jolly Good has started to post about it.

Therefore, your assumption that your investment scam draw my attention because I could not be an affiliate is all but accurate!

It would be hard for two people to post the same nonsense over and over again and both are incapable of doing very basic research and lack total common sense, never mind business sense.

To research your investment fraud scheme is a breeze for me as a private investigator.

If someone wants to read nonsense, simply go to https://betking.io/ico and read in the thread BetKing.io Is it a blatant scam? for further explanation.

I quote the statements from your website and if you claim it is nonsense, then you confirm that the content on your website is nonsense!

I've asked mods and theymos to ban this guy and encouraged other sites that he tries to blackmail or extort to do the same.

I have no idea where you learned this or how you came to this thought, but scammers Game Protect is going after can not get away with requesting to ban the truth!

Please show proof where Game Protect tried to blackmail or extort other sites?

Why did no one file a criminal complaint against Game Protect?

There's tonnes of threads of real players complaining about this guy spamming the forums.

How do you know who is behind those anonymous bitcointalk accounts?

The criminal casinos and their paid influencers complain about online gaming consumer protection, not the real players! The real players do not have any disadvantage caused by the existence of Game Protect. The opposite is the case! Hundreds of real player victims submitted their scam to us and asked for help.

I would encourage everyone to not fall for any scams or extortion attempts made by game-protect like he has tried with other users on the forum (see their trust ratings and the dodgy legal service he claims to provide).

Did you open scam accusations like it is very common here on bitcointalk? If not, why not? (Until today not one of those anonymous accounts complaining about Game Protect answered these questions!)

You scammed all your affiliates with deleting the statistic of all lifetime referred players! As it meanwhile turned out, not the first time you breached your promises!

You scammed all your investors with not fulfilling the investment contract! You announced to spend 30% of the tokens = $ 1,95 million for ICO bounties, testing bounties, advisors, hiring, future marketing and development, while in reality you did not even spend a fraction of it to marketing and develop the casino!

Despite your contradictional and misleading statements making the investment offer anyway invalid! These are facts opposed to your false and misleading allegations!

[SyGambler]

I haven't been  that much active in the last week , but so glad that you unlocked the thread Dean
anyways even btc went up a lot and investors lost btc due to that there is still plenty of time and BKB may reach 2$ someday , can't blame Dean for what investors already agreed on ( if you want more btc next time participate in a BTC project ) 

I just want to see Betking growing and the development continues , it's one of my favorite sites to play and I want it to be better

attacking Dean or the site won't help , investors agreed on the terms and if they regret it then they can only blame their selves and as I said there is still a good chance for BKB to reach higher amount comparing it to BTC

[BetKing.io]

Here's a page that details all our sports betting rules
https://betking.io/sports-betting-rules/


Also note that if you see anything you want to bet on but the odds are worse than other sites PLEASE get in touch so we can improve them!
We have tried to be the best on soccer during the world cup but other markets may need tweaking.

[chazley]

there is still a good chance for BKB to reach higher amount comparing it to BTC

Maybe if every single dice site goes under.

[JollyGood]

Man.. investors got royally hosed with this ICO. Basically it all boiled down to which would appreciate better: BK or BTC.

The answer, IMO was pretty obvious right from the get go. IMHO, Dean should just buyback all the tokens, open up the site for classical invest/divest BR model, and collect 35% of the profit. All this ICO money raised and it ended up with some updated UI and some slots. Having investors in site was actually quite profitable as other investors gamble tended to gamble in the past. Remember Road2Wealth? With the investors gone, it's just a bunch of 2 bitcent gamblers left, leaving the site desolate.

I understand what you say. To be clear several of us have pointed that out already and cannot understand why an ICO was needed even though we heard the reasons given.

The only purpose that can be found for an ICO seems to be a way for which Dean Nolan to have raised money. Dean Nolan stated he has given a step by step breakdown to all investors about the expenditure which is clear. I have not yet sent a PM to any investor to ask for that information but I will try to do it within a couple of days. Once I have that information it will become easier to understand where the funds went IF he has it listed and broken down. I am convinced the ICO money that went to pay for "development" went directly to the pockets of Dean Nolan because he already had a working fully functional betting website of which he gave screenshots when trying to raise ICO funds.

From what I read there has been no statement from Dean Nolan that has shown any sign of remorse for the failed Betking token valuation and buy-back facility. If Dean Nolan has tried to make amends by now holding 70 million of the 100 million Betking tokens then that is a step forward but without knowing the key information about how much an individual paid for the tokens, how much profit (if any) they made and when they sold their tokens what was the net loss investors made. Effectively for every net loss that the investors made it is clear it was always a win-win situation for Dean Nolan who made millions without even investing anything himself and using an already existing betting website to raise ICO funds under the guise of development and bankroll.

If Dean Nolan releases information about where the funds were spent and all can be verified I will be the first to thank and congratulate him if investors are shown to be making a profit and those that sold their Betking tokens ended up with a net gain instead of a net loss. I doubt he will do it but hopefully he will prove me wrong. The Betking telegram is more of an announcement channel with little or no information of substance, it does not allow live chat where investors and users can talk to each other. Dean Nolan has locked and unlocked the Betking thread at Bitcointalk when he felt he needed to try to silence those questioning his business ethics (or lack of).

Hopefully he will make public that information after all what is there to hide?

[game-protect]

From what I read there has been no statement from Dean Nolan that has shown any sign of remorse for the failed Betking token valuation and buy-back facility. If Dean Nolan has tried to make amends by now holding 70 million of the 100 million Betking tokens then that is a step forward but without knowing the key information about how much an individual paid for the tokens, how much profit (if any) they made and when they sold their tokens what was the net loss investors made. Effectively for every net loss that the investors made it is clear it was always a win-win situation for Dean Nolan who made millions without even investing anything himself and using an already existing betting website to raise ICO funds under the guise of development and bankroll.

Is it confirmed that there are 100,000,000 BKB tokens?

Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.

Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!

So if there are really 100,000,000 BKB tokens, BetKing sold them for 40% more like their real value was!!!

And if such a ponzi scheme crushes, you of course can not get 40% more like its real value on the free market!

[JollyGood]

Is it confirmed that there are 100,000,000 BKB tokens?

Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.

Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!

So if there are really 100,000,000 BKB tokens, BetKing sold them for 40% more like their real value was!!!

And if such a ponzi scheme crushes, you of course can not get 40% more like its real value on the free market!

It was stated that there were 100 million Betking tokens created. 70 million tokens were supposed to be distributed for ICO investors and Dean Nolan was supposed to keep 30 million for marketing, promotions and "website development". What investors were not told was that those 30 million tokens were going to be part of the "profit" distribution so ICO investors who were getting very little profit anyway were now getting even less because Dean Nolan was claiming profits on the 30 million tokens that were in his possession. On top of that nobody seems to know how many tokens were "given" in exchnage for the "website development" and who the alleged "developer" was.

People are saying that the website was virtually identical to the one Dean Nolan closed in order to run the ICO so people believe Dean Nolan pocketed that tokens for himself under the guise of paying a "developer" but again because there is no accountability that he has provided means that information cannot be checked and verified. Those allegations and suspicions are still following him around and most people believe tehm to be true because of the screenshots of the Betking website he used to show potential investors when asking for funds in the ICO.

A very strange set-up in the first place and then to have the nerve to write that people should have had due-diligence before investing just does not cut it with me. That is one of the reasons so many people are calling this Betking website a scam.

[LoyceV]

As much as I love the drama in this thread, let's stick to the facts. Here are some facts to consider:

1.

Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.

Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!

I've raised this question here on June 23, 2017. It was answered 3 posts lower:

I don't end up short. The buy back price is tied to the current bankroll profit. I'm committing to buying back at least 10% of tokens every 3 months.
The site will be making profit in that time and it will be the profit that is used to buy back the tokens.

2.

What investors were not told was that those 30 million tokens were going to be part of the "profit" distribution

That's not true, it was explained:

The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).

The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

3.

~ you can buy BKB directly on BetKing with 25% discount
https://betking.io/invest

At the first page of the BKB Crowdsale thread, Dean told me this wouldn't happen.
My question:

Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever?

Dean's answer (archived):

They won't be re-sold no.

[game-protect]

As much as I love the drama in this thread, let's stick to the facts. Here are some facts to consider:

1.

Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.

Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!

I've raised this question here on June 23, 2017. It was answered 3 posts lower:

I don't end up short. The buy back price is tied to the current bankroll profit. I'm committing to buying back at least 10% of tokens every 3 months.
The site will be making profit in that time and it will be the profit that is used to buy back the tokens.

I am not able to see the answer why he divided the total bankroll value of $ 6,500,000 end of the ICO with only 70,000,000 while the total number is 100,000,000?

3.

~ you can buy BKB directly on BetKing with 25% discount
https://betking.io/invest

At the first page of the BKB Crowdsale thread, Dean told me this wouldn't happen.
My question:

Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever?

Dean's answer (archived):

They won't be re-sold no.

Very interesting point because you still can buy BKB tokens even though the tokens bought back won't be re-sold!

This means that BetKing continuously creates new BKB tokens making the existing tokens more worthless, because to determine the basis value of the BKB tokens you need to divide the $ 6,500,000 with all existing tokens.

This further confirms that the value of the BKB token is not determined as announced, but somehow based on an internal and secret fantasy formula determined by BetKing!

[JollyGood]

As much as I love the drama in this thread, let's stick to the facts. Here are some facts to consider:

1.

Because the ICO description divides the total bankroll value of $ 6,500,000 with only 70,000,000 BKB tokens leading to the value of $ 0.09286 per token.

Whereas if you divide the $ 6,500,000 total bankroll value with 100,000,000 BKB, the value is only $ 0,065 per token!

I've raised this question here on June 23, 2017. It was answered 3 posts lower:

I don't end up short. The buy back price is tied to the current bankroll profit. I'm committing to buying back at least 10% of tokens every 3 months.
The site will be making profit in that time and it will be the profit that is used to buy back the tokens.

2.

What investors were not told was that those 30 million tokens were going to be part of the "profit" distribution

That's not true, it was explained:

The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).

The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).

3.

~ you can buy BKB directly on BetKing with 25% discount
https://betking.io/invest

At the first page of the BKB Crowdsale thread, Dean told me this wouldn't happen.
My question:

Will the tokens that are bought back by BetKing be re-sold again at some point, or are they off the market forever?

Dean's answer (archived):

They won't be re-sold no.

Firstly, thank you for your post. I appreciate it.

Regarding the statements you made, I ask you where is the evidence? Yes Dan Nolan said many things but where is the evidence? How can what you point out that Dean Nolan stated be verified and cross-refernced?

1) The fact the buy-back of 10% every quarter is linked to the "profit" means Dean Nolan will never be short regardless of the number of tokens out there because he is only buying back 10% of any investors balance
    of their Betking tokens at any given time forcing them to keep 90%. They cannot sell them anywhere else because no demand for them unless they sell at a huge loss.

2) He created 100 million tokens. He distributed 70 million to investors. He kept 30 million to spend on marketing, developers and promotion
    Why would the 30 million tokens (that Dean Nolan did not release during the ICO) generate "profit"? It means the 70 million ICO token holders receive LESS profit share!
    Why would Dean Nolan keep profit on 30 million sitting-idle tokens knowing the profit is going directly into his own pocket when those tokens were to be distributed to "promotion, marketing and development"?
    When those tokens were distributed out as part of the "promotion, marketing and development" then they become eligble for being part of the profit share.
    Where is the evidence showing on which date Dean Nolan parted with hom many tokens and for which purpose?

3) If what you wrote is true then it means the 70 million tokens Dean Nolan claims he is in possession of cannot be re-sold. Of the original 30 million tokens not made available during the ICO how may remain?
    Which tokens is he selling on the Betking website now? https://betking.io/invest
    If the tokens are being sold are part of the original 30 million tokens which were not made available during the ICO then WHY is Dean Nolan claiming, including and keeping the "profits" on them?
    How can anything he says be verified and checked to ascertain no fraud has taken place (though as far as morals are concerned everybody can see the shambles)

Dean Nolan should consider being more transparent allowing people in general, current users, investors and potential investors to scrutinise the accounts.

[JollyGood]

Regarding the statements you made, I ask you where is the evidence?

I'm not sure what you mean, I posted reference links for each quote.

I mean you posted previous comments that Dean Nolan made and now you deleted the post asking me for clarification.... 

Did he ever release any accounts to show what he is doing and on which date he did it?

There is no evidence that can prove Dean Nolan did act on what he said he would do. There is no evidence that can prove Dean Nolan did or did not renege on his promises.

All (or most) of this would be cleared up IF he releases accounts which can be scrutinised.

Your point number 3 states that Dean Nolan said he would not re-sell tokens purchased in the buy-back.

Can this be independently verified? If "no" then why not? If "no" then how can the accounts be scrutinised?

[BetKing.io]

Well, just jolly good, game protect and chazley (3 mentally ill people) posting nonsense as usual. I think this is proof the thread should be locked and I don't participate on bitcointalk any longer.

You can say people should be able to discuss all you want but as you can see no one does and it's juts these idiots posting to themselves.

If you want info on BetKing or want to talk to me, you know how to get in touch.

[BetKing.io]

Congrats to the last weeks winners.
Prizes of 0.5 Bitcoin, 10 Ethereum and 50 Litecoin have been credited to winning players.

The new week has started with the same prizes up for grabs!

Check https://betking.io/leaderboards for current standings

[BetKing.io]

We've reduced the margin across all sports. You should now get better odds than most of the competition

If there's anything that we missed let me know and I'll change.

[BetKing.io]

New live dealer games are now available on betking.io

You can play Baccarat, Blackjack, Roulette as well as other games.

Also playing these games adds to your weekly leaderboard position.

[BetKing.io]

Last weeks leaderboard prizes paid.
0.5 bitcoin, 10 ethereum and 50 litecoin shared between the winners!

New week has started and there's a new rule. To be eligible you need to have your stats public.

Good luck
https://betking.io/leaderboards

[BetKing.io]

we have updated our live dealer lobby
Games are easier to navigate now.

[BetKing.io]

Last weeks leaderboard prizes paid.
0.5 bitcoin, 10 ethereum and 50 litecoin shared between the winners below!

New week has started.

Good luck
https://betking.io/leaderboards

[BetKing.io]

Our sportsbook now has chinese translation.

click on the language selector (the flag) on top right of screen to change to chinese on betking.io