BetKing.io is a blatant scam operated by Dean Nolan

[BTCevo]

Truth be told, I find it incredibly shady how Dean unlocks his thread, makes a post, then locks the thread again.
This kind of behavior makes me leery to continue playing at betking.
That, and the fact that the prick never replies to my PMs

They do that just because it will be tons of questions will be asked and he will never be able to answer that, unless he saying everything, we just can assume, no one can really prove that he is scamming actually. But their attitude will make people think that he is that guy

Anyway Jolly, do you have really solid proof that they are scamming ICO besides of what medium said like in your other thread. Because I saw they still have good traffic on their site as well after being wondering about their funds distributed

[1715446779]

1715446779

[1715446779]

1715446779

[1715446779]

1715446779

[1715446779]

1715446779

[1715446779]

1715446779

[1715446779]

1715446779

[actmyname]

My opinion is not important but that is what people say, they call Betking and Dean Nolan scam and scammer.

This is what people are saying because you are creating an ideological echo chamber.

66 of these 164 posts are yours. That represents about 40% of the thread. Adding the fact that there are consecutive replies (which are against the forum rules) it only bolsters the sense that everyone is in "agreement".

For the rest of the posts, we have game-protect whose interest is to attack BetKing because of affiliate statistics and signature spammers that are just going along with the flow. Again, 40%.Notice that I haven't said anything about my opinion toward BetKing. You can say what you will about my biases - you're entitled to that - but know that these are facts.

[JollyGood]

Truth be told, I find it incredibly shady how Dean unlocks his thread, makes a post, then locks the thread again.
This kind of behavior makes me leery to continue playing at betking.
That, and the fact that the prick never replies to my PMs

I like the way you used the word 'shady', I need to use it for a bit too

Yes his locking and unlocking of the Betking thread is pathetic as much as it shady. Here is a link to a Reddit post containing private messages between Dean Nolan and another user from here.

It shows exactly how shady Dean Nolan is:
https://www.reddit.com/r/Bitcoin/comments/5gfdxk/betking_trying_to_censor_questions_about_ico/

As for him never replying to your PMs, why would he when people are saying he already has become a millionaire by siphoning off much of the ICO funds for himself while claiming to spend the funds on the bankroll, on promotion and on development? Dean Nolan does not have time to waste on people who send him PMs and now that you called him a "prick" I doubt he will bother getting back you at all.

[bbc.reporter]

@Jollygood. What is your plan besides making scam accusation threads? You are doing a good public service but if nothing will happen after your hard work then all it will be is FUD from just another forum member

[JollyGood]

Truth be told, I find it incredibly shady how Dean unlocks his thread, makes a post, then locks the thread again.
This kind of behavior makes me leery to continue playing at betking.
That, and the fact that the prick never replies to my PMs

They do that just because it will be tons of questions will be asked and he will never be able to answer that, unless he saying everything, we just can assume, no one can really prove that he is scamming actually. But their attitude will make people think that he is that guy

Anyway Jolly, do you have really solid proof that they are scamming ICO besides of what medium said like in your other thread. Because I saw they still have good traffic on their site as well after being wondering about their funds distributed

The proof is in the token distribution formula itself, it was designed to ensure he became rich while the investors had little chance to even get their money back and break even. The silence on his part when asking to prove where the cold storage funds are held, how the funds have been spent, how much was spent on development leaves other to conclude what they want. Dean Nolan blaming investors for them sending their crypto to buy the Betking tokens at a loss because "investors did not show due-diligence" is a disgraceful thing that Dean Nolan said.

As for solid proof, we would all see solid proof if Dean Nolan allowed audits or at least published expenditure accounts but or at the very least gave expenditure accounts to investors. It seems Dean Nolan has probably avoided doing that in order to siphon funds designated for "development" for himself.

[game-protect]

For the rest of the posts, we have game-protect whose interest is to attack BetKing because of affiliate statistics and signature spammers that are just going along with the flow. Again, 40%.

Did not know it is not allowed to inform the community that BetKing scammed its affiliates with deleting the affiliate section and statistic of lifetime referred players, but what means signature spammers?

[JollyGood]

For the rest of the posts, we have game-protect whose interest is to attack BetKing because of affiliate statistics and signature spammers that are just going along with the flow. Again, 40%.

Did not know it is not allowed to inform the community that BetKing scammed its affiliates with deleting the affiliate section and statistic of lifetime referred players, but what means signature spammers?

We all have a duty to inform the community to about any scam or potential scam no matter how small or big.

[Herczs]

Pure waste of time. I'm glad that this has been clarified now. Betking and DISASTROUS REPUTATION? Who would have thought..

[jpcfan]

For the rest of the posts, we have game-protect whose interest is to attack BetKing because of affiliate statistics and signature spammers that are just going along with the flow. Again, 40%.

Did not know it is not allowed to inform the community that BetKing scammed its affiliates with deleting the affiliate section and statistic of lifetime referred players, but what means signature spammers?

We all have a duty to inform the community to about any scam or potential scam no matter how small or big.

you have a duty to whine whine whine.


snowflakes will be downfall of us all.


ok betking is scam. move on. dont bet there. get a life

[JollyGood]

you have a duty to whine whine whine.


snowflakes will be downfall of us all.


ok betking is scam. move on. dont bet there. get a life

I will not be giving you the reply you deserve but instead as a gesture of refrain I will write the following.

Well several people are saying that the Betking ICO was underhanded and several people are saying the token purchasing is a scam and and several people are saying Dean Nolan is a scammer but the they are not complaining too much about the actual betting.

[BTCevo]

Truth be told, I find it incredibly shady how Dean unlocks his thread, makes a post, then locks the thread again.
This kind of behavior makes me leery to continue playing at betking.
That, and the fact that the prick never replies to my PMs

They do that just because it will be tons of questions will be asked and he will never be able to answer that, unless he saying everything, we just can assume, no one can really prove that he is scamming actually. But their attitude will make people think that he is that guy

Anyway Jolly, do you have really solid proof that they are scamming ICO besides of what medium said like in your other thread. Because I saw they still have good traffic on their site as well after being wondering about their funds distributed

The proof is in the token distribution formula itself, it was designed to ensure he became rich while the investors had little chance to even get their money back and break even. The silence on his part when asking to prove where the cold storage funds are held, how the funds have been spent, how much was spent on development leaves other to conclude what they want. Dean Nolan blaming investors for them sending their crypto to buy the Betking tokens at a loss because "investors did not show due-diligence" is a disgraceful thing that Dean Nolan said.

As for solid proof, we would all see solid proof if Dean Nolan allowed audits or at least published expenditure accounts but or at the very least gave expenditure accounts to investors. It seems Dean Nolan has probably avoided doing that in order to siphon funds designated for "development" for himself.

Let me say this clear that I do not defend him at any cost but what I get here:
1. Let us assume that he gets the money from the investors but if the investors are still on profit then I can't say that he is scamming anyone
2. By this time, there will be tons of people that will attack him for sure that is why he locked the thread to avoid this, but investors are not saying anything about this matter which is weird
3. If you have really solid proof, you should get it to scam accusation to make sure he get red trust

If you are going to help people with this matter then you should making a scam thread there to make sure people know everything clearly and transparant

[marlboroza]

This is all you need to read:

http://archive.is/9opwz#selection-6385.4-6385.34

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO.
There's not going to be any significant reduction in bankroll, max 10% every 3 months.
Yes I will then be making a profit on the tokens I hold, the ones not being sold plus the ones I buy back, that's pretty normal and how most businesses work.
There's no dilution going on at all.

According to ICO conditions (someone archived ICO long time ago, couldn't archive new site) http://archive.is/tdcWr#selection-440.5-440.6

Distribution
– 100,000,000 BetKing Bankroll Tokens will be created as Ethereum ERC23 tokens and issued after the crowdsale ends.
– 70 million will be available for sale to crowdsale participants.
– 30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development.
– BetKing Bankroll Tokens can be purchased with Bitcoin, Ethereum and Litecoin. All funds will be held in cold storage.
Use of funds raised
After the crowdsale at least 50% of the funds raised will be used for the house bankroll that players bet against and winnings are paid from.The remaining funds will be used for marketing, promos, seo, design, development, server costs and legal.

Is Dean allowed to use his 30% of issued tokens to buy back tokens, to put them on exchange, sell them or to put them in bankroll, as during ICO something completely different was stated?

Read again:

30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development.

I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO

https://i.imgur.com/1Aedza2.png

Why tokens are being sold 25% under ICO price? If everything is calculated in $, profit is calculated in $, how is possible that token has the same price as it had after funds have been raised?
Does it mean bankroll didn't go up or down single....hm...part of cent?
https://betking.io/ico/
Edited


How many tokens are available to buy? From where are these tokens coming?

The current max win at the BetKing dice game is 10 BTC.

If we assume that BetKing is only allowing a max win of 2 % of the bankroll,
the bankroll would have to contain 500 BTC, which is roughly the amount of
BTC that has been raised with the ICO. Many sites use an even lower percentage
of the total bankroll as the max win. Therefore it is likely that the BetKing bankroll is
actually higher than my assumption of 500 BTC.

Assuming I want to invest in betking, where can I find this info?

[JollyGood]

Pure waste of time. I'm glad that this has been clarified now. Betking and DISASTROUS REPUTATION? Who would have thought..

Considering the Betking website is owned by Dean Nolan nobody should be surprised. https://www.reddit.com/r/Bitcoin/comments/5gfdxk/betking_trying_to_censor_questions_about_ico/

[actmyname]

Why tokens are being sold 25% under ICO price? If everything is calculated in $, profit is calculated in $, how is possible that token has the same price as it had after funds have been raised?
Does it mean bankroll didn't go up or down single....hm...part of cent?

For some reason, your BKB price is the un-updated metric of 0.0928 (which is the const value that is not altered). Perhaps some script didn't go through to calculate the actual price, which is 0.0989.

The current max win at the BetKing dice game is 10 BTC.

If we assume that BetKing is only allowing a max win of 2 % of the bankroll,
the bankroll would have to contain 500 BTC, which is roughly the amount of
BTC that has been raised with the ICO. Many sites use an even lower percentage
of the total bankroll as the max win. Therefore it is likely that the BetKing bankroll is
actually higher than my assumption of 500 BTC.

Assuming I want to invest in betking, where can I find this info?

The latter part is assumption. The former can be found directly on the dice page, where it says "MAX WIN: 10 BTC"

[marlboroza]

Why tokens are being sold 25% under ICO price? If everything is calculated in $, profit is calculated in $, how is possible that token has the same price as it had after funds have been raised?
Does it mean bankroll didn't go up or down single....hm...part of cent?

For some reason, your BKB price is the un-updated metric of 0.0928 (which is the const value that is not altered). Perhaps some script didn't go through to calculate the actual price, which is 0.0989.

Well, I see 0.0990 now and it doesn't say infinity any more(will edit post).
But how "30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development." turned into "I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO"?

These funds should have been used for what was stated in ICO and we are talking about $2.7M worth tokens.

If they have not been used for promotion, development etc then I don't see any reason why all 100% invested money shouldn't be in that bankroll, or better, why investors didn't receive all 100,000,000 tokens, as only their money is obviously used for bankroll, promotion, advisors, hiring, development? Correct me if I am wrong, but it doesn't sound like Betking.io used any of their funds for any of these things said during ico.
But, as I am not investor, gameprotect and his alt accounts from this topic are not investors and investors didn't say anything, I won't push this any further. It is just my observation.

[game-protect]

But, as I am not investor, gameprotect and his alt accounts from this topic are not investors and investors didn't say anything, I won't push this any further. It is just my observation.

Are you not able to read the thread title?

It nowhere asks if it is a blatant investor scam and BetKing blatant scammed its affiliates with deleting the affiliate section including all lifetime referred players!

[JollyGood]

Well, I see 0.0990 now and it doesn't say infinity any more(will edit post).
But how "30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development." turned into "I'm buying tokens back with my own profit, the 30 million tokens I keep from the ICO"?

These funds should have been used for what was stated in ICO and we are talking about $2.7M worth tokens.

If they have not been used for promotion, development etc then I don't see any reason why all 100% invested money shouldn't be in that bankroll, or better, why investors didn't receive all 100,000,000 tokens, as only their money is obviously used for bankroll, promotion, advisors, hiring, development? Correct me if I am wrong, but it doesn't sound like Betking.io used any of their funds for any of these things said during ico.

You are 100% right.

The same point has been raised before but a poster in the forum mentioned that Dean Nolan said the 30 million Betking tokens would not be used for profit taking BUT once portions of that 30 million are sent out to pay for "bounties, testing bounties, advisors, hiring, future marketing and development" then they will be eligble for profit taking. Now here is the key part:

There was no audit. There is no audit. Dean Nolan will not allow independent audits. There is no evidence who money was paid to and for what purpose. If virtually the same identical Betking website that closed in December 2016 was re-opened in 2017 after the ICO then why was development needed? That is the primary reason some people say Dean Nolan has scammed investors by siphoning funds from the ICO to his own pockets citing "promotion, advisors, hiring, development". As for 50% of the ICO funds going to bankroll, there is audit to prove this happened or will ever happen and that is another reason why some people call Betking and Dean Nolan scam and scammer.  

Because his roulette game was dismal in returns Dean Nolan removed it shortly after the re-launch post ICO and it was only in August 2018 (nearly a year later) that he added a couple of plugged-in affiliate games from "Livetable" that needed zero "development" costs and Dean Nolan also added that same 2014/2015/2016 roulette game back.

Why might you say did Dean Nolan do that in August 2018 and start getting active and paying a little more attention to the Betking website? The simple answer is because several people have highlighted what he has done during the ICO fundraising as a reason to avoid this Betking website completely because they are saying that the Betking ICO was underhanded and several people are saying the token purchasing is a scam and several people are saying Dean Nolan is a scammer but the they are not complaining too much about the actual gaming apart from it being low-level old fashioned website.

Dean Nolan thinks by adding a few plugged-in games and by being a little more active on the forum by adding a tennis bet and a football bet here and there, then post in those threads a little more he will deflect attention away from what many see as a blatant scam. No chance.

[Samarkand]

...
Assuming I want to invest in betking, where can I find this info?

You can´t. Before the ICO when PRC and BetKing were still running
on a bankroll that everyone could invest in the current bankroll was always
visible. This isn´t the case anymore and therefore you would probably
have to ask Dean about the current size of the bankroll.

My estimation of at least 500 BTC was just based on an educated
guess based on "industry standards" and the current max win (the
max win is still displayed at the site as actmyname pointed out).

[JollyGood]

...
Assuming I want to invest in betking, where can I find this info?

You can´t. Before the ICO when PRC and BetKing were still running
on a bankroll that everyone could invest in the current bankroll was always
visible. This isn´t the case anymore and therefore you would probably
have to ask Dean about the current size of the bankroll.

My estimation of at least 500 BTC was just based on an educated
guess based on "industry standards" and the current max win (the
max win is still displayed at the site as actmyname pointed out).

A cold wallet address will clarify if your estimate is correct but Dean Nolan will not be forthcoming with giving it.

My opinion is not important but that is what people say, they call Betking and Dean Nolan scam and scammer so why would anybody want to invest in what is considered by many to be a scam ICO with a below average performing, below average looking betting website?

Already the investors have failed to recoup their investments and are sad at Dean Nolan when he said "investors should have had due-diligence" because they did not read the small print (he has since edited that post after it made him look like a greedy disgusting person).

[Samarkand]

...
My opinion is not important but that is what people say, they call Betking and Dean Nolan scam and scammer so why would anybody want to invest in what is considered by many to be a scam ICO with a below average performing, below average looking betting website?
...

As I already pointed out I somewhat agree with most of your claims, but
you should really stop posting the bolded sentence. After all you have repeated it
dozens of times now while being the main person, who calls BetKing a scam.

Betting volume at BetKing has actually picked up since Dean started running the leaderboard
promotions. However, right now the website seems to be down and I´m just getting
a Cloudflare error message:

This page (https://betking.io/) is currently offline. However, because the site uses Cloudflare's Always Online™ technology
you can continue to surf a snapshot of the site