Is there actually an update to Betking.io, is the site still active with Bitcointalk players? I read very little about it on the forum. They have been around in the gambling industry for quite some time. If you Google Dean Nolan, a lot of hits will come up. Pretty familiar name. Last post is not substantiated with evidence. Just write that it is a scam is not as a proof.
I'll give you a quick update and history of what happened.
We were the biggest crowdfunded dice site from 2015-2016 (Just-Dice had closed, we were never close to being as big as they were).
BetKing made investors 7400 BTC by the time we closed in Dec 2016.
All investors withdrew their funds with no issues (there was about 6000 BTC in the bankroll at that time, keep that in mind when you hear people say scam, there's proof on here of all investors withdrawing with no issues).
We decided to relaunch in Sept 2017 after doing an ICO. Why? Because an ICO gives us business funds to actually use on marketing and trying to grow the site bigger.
The 6000 btc previously invested couldn't be used for anything except as bankroll to accept bets.
We raised $6 million in the ICO ($1 million of that was put in by me).
Around summer of 2018 there was a huge smear campaign started on this forum, BEFORE anything had gone wrong with BetKing, claiming that the site was a scam.
It was clearly tactical and possibly done by competitors or someone who had lost on the site. Someone with SEO expertise if you look at the old posts. But it did put a lot of players off playing even if untrue.
Unfortunately, by Dec 2018 we had run out of ICO funds for a number of reasons that have been posted elsewhere and that all token holders are well aware of.
What is usually ignored is that token holders actually received over $3 million of the initial investment back by this point.
The smear campaign continued even stronger and investors were divided at this point and it made it almost impossible for us to do anything to actually recover funds.
We tried though. Some token holders even put extra funds in to the bankroll of the site so that we could continue.
Unfortunately there was a hack that lost a lot of these funds too. The code for the version of the site at the time of the hack was developed by hired developers.
However, I still admitted blame for failure to detect the hack either in review or testing.
That gave a lot more ammunition to the trolls/competitors that wanted to see the site die off.
Despite what you read, these people never cared about investors getting their money back. They wouldn't be on the attack as much as they are if they did.
At this time I couldn't see any way out of this or any way that investors would trust the site to put more funds in and felt forced to close in oct 2019 with the promise
that IF (and the trolls made this almost impossible) I were to have success in any other project in future that I would refund them personally (including ICO token holders).
I will point out that no players lost money here. We paid out as much of the balances as possible and then two other casinos helped with refunding some other players via affiliate bonuses.
2 years went past where I had potentially good projects to launch but with no ability to share with anyone to try and get investment or support as I knew the forums could damage any new brand faster than I could build it.
I decided in the end that it would just be better if BetKing was online than off and any profit at all was used to refund old investors even if it took a very long time.
So here we are. The site is online. The bankroll is privately funded by old investors who lost funds either in the ICO or the hack.
The profit made, while small at the moment, has been refunding old investors losses.
All previous token holders have access to a refunds page that shows the amount to be refunded, amounts currently refunded and some plans.
I see no reason for this page to be public considering there is no one on this forum who bought tokens or lost in the hack that hasn't already got access to this page.
All the scam accusation posts are made by people who didn't play or didn't invest and then everyone else just took their word.
We have plans to make the site better in 2022 (sports being one).
The current bonus system is better than all other casinos (50% of all losses/ev back with no grinding levels).
We won't get all old players back or convince everyone to trust the site.
New players will still get put off due to google results and seeing the lies on this forum.
What I find odd is that other sites who had hacks don't get the same treatment. There was a bustabit clone that got hacked and the owner said they would refund investors by taking no commission and everyone was fine with that. When I say the same it's nothing but abuse.
Then there's other sites that did ICO's and actually just stole millions of $ off their investors yet players continue to play at the site even though the owners have been ignoring investors for years and they get only a small fraction of the hate on here as we do.
But, BetKing it's still going and refunding old investors losses despite the hate and lies here and that's all that matters.
