BetKing.io - 20% Rakeback Christmas Bonus - Most trusted Bitcoin Dice site

[Cryptobillionaire]

he keeps delaying to pay the leaderboard. that is the most annoyiing shit

[3adoudi]

Betking is one of best online casinos based on cryptocurrencies, iplayed thrre a long timd ago before i quit gambling, and i hope i find a chance to be back as soon as possible.

[zupdawg]

Betking was one of best online casinos based on cryptocurrencies, iplayed thrre a long timd ago before i quit gambling, and i hope i find a chance to be back as soon as possible.

Corrected the bolded part for you. It was one of the best on its time, but now it isn't. There are lots of scam accusation thrown at them now, you might want to check it out first before planning to try it again. I myself will not ever visit this site again after ending a contest early just a day or 2 before it ends resulting me to lose money for nothing

[JollyGood]

he keeps delaying to pay the leaderboard. that is the most annoyiing shit

Well he scammed the Bustabit folks out of 2 BTC licence fee for the Crash game so it does not surprise me he is either delaying payouts.

It was mentioned earlier he banned people from the live chat because they were questioning scammer Dean Nolan and his business ethics.

For a scammer who made over $6.5 million off the ICO and pocketed a large amount for himself it means he would really not care about a "small" payout to those on the "leaderboard"

[Cryptobillionaire]

no one is playing on the site. i wish he knew that its because of the delay in the little payouts. how will u promise to pay at the end of the day and delay for days. this dean is  one stupid motherfucker. his shit is only gonna affect investors. until he starts paying fast and prompt, i  and my friends will continue playing in safedice.com

[JollyGood]

no one is playing on the site. i wish he knew that its because of the delay in the little payouts. how will u promise to pay at the end of the day and delay for days. this dean is  one stupid motherfucker. his shit is only gonna affect investors. until he starts paying fast and prompt, i  and my friends will continue playing in safedice.com

Dean Nolan the betking owner and scammer will definitely return to delete posts and lock threads again. I do think it is not right to swear at Dean Nolan even though he is considered by many to be a petty thief and scammer.

Anyway, regardless of which site people use it is clear people are staying away from the betking scam website in their droves so I am happy you and your friends use other websites.

The latest visit to the betking website shows the scammer now seems to be running just the dice game and has paid a low level dev to create an exchange. It not exactly bursting with visitors. Scammer and fool are two words that come to mind when Dean Nolan is mentioned.

[LoyceV]

What happened to the 10% buyback of BKB tokens every 3 months? It now says this:

If you opt in to sell a percentage of your BKB balance will be traded for Bitcoin on November 1st 2018 at the BKB price and Bitcoin exchange rate on November 1st. Half of monthly site profit will be bought back in total. Everyone who has opted in gets equal percentage of total amount to be bought back. Prices shown above are estimates.

I've Opted in, but I don't think anything happened on November 1st. Is the 10% buyback entirely off the table now?

It is now:

* Monthly buybacks where half of the site profit is used to buy BKB
* Quarterly buybacks where the minimum bought back would total to 10% for the past 3 months

Quarterly buybacks are now entirely gone. I received an email labeled "Latest news, rebranding and BKB changes". In short: Half the profit will be used to buy back BKB tokens each month, and BetKing will rebrand from gambling to a Bitcoin bank/exchange. And under the name BitSafe they'll launch another ICO
I'd like to add a link, but can't find the email online. I'll quote the full email in code tags:

Code:

Latest news, rebranding and BKB changes

Latest BKB changes
 
We have tweaked the BKB buy back model.
 
Each month we will take the total profit BetKing makes from bankroll profit commission, trade fees on the exchange and 3rd party commission for licensing software.
 
Fifty percent of this profit will be used to buy back BKB at the current buy back price.
 
The tokens we buy back or earn in fees over the month will be burned.
 
The buy back price is determined by:
Previous months BKB price + (monthly site profit in $ / total BKB supply)
 
BKB was snapshotted at $0.099 on 2018-10-21 00:00 with 20 million of 100 million tokens burned, leaving 80 million.
 
What can BKB be used for?
 
The token can be used to get 50% discount on Bankroll profit commission when you invest BTC, ETH or LTC in our Dice game bankroll.
 
BKB can also be used to get 50% discount on trade fees on the BetKing exchange
 
BKB can be used to pay for withdrawl fees when withdrawing BTC, ETH or LTC to your wallet.
 
BKB can also be used to play Dice and get rakeback and prizes in our leaderboard contests
 
BKB can be traded on our exchange for Bitcoin
 
Future of BKB and BetKing
 
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
 
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
 
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
 
BTSC has similar utility to BKB in that it can be used to pay trade fees, merchant fees and any other fees on the BitSafe platform.
 
BitSafe will also use 40% of it's quarterly profit to buy back BTSC on the BitSafe exchange.
 
We believe these changes are best for BKB token holders and our future success together.

I recall from memory many promises around BetKing's ICO, and many of them have been broken (for instance not reselling BKB tokens after buying them back, the quarterly buy backs, the promises to add more games, and more). I didn't believe the math behind the (lack of) details in the whitepaper from the start, but all details are fragmented in many different topics on this forum, and I don't have the time to dig it all up now.
If I look at betking.io now, the chat is gone, the site looks worse than it ever looked, and it doesn't look anywhere near what was promised in the BKB ICO.

My guess: Bitcoin dropped so much that BetKing can't afford the buy backs anymore, since the BKB price is fixed in dollars. Spending half the profit on buy backs is a joke, the site barely has any players.
I remember Dean wanted something new when he closed BetKing, because he was tired of dealing with it. The site was profitable and trusted when it closed.
It looks like Dean finally found a new project to work on, but he's largely destroyed his reputation in the process.

[Cryptobillionaire]

now he has  stopped the wager contest.
that is the end of his site cos no one will go playing there.
yes his support is good, but his attitude sucks.
he wont even pay you your winnings promptly. that is the first site where you have to stress your self to win then stress your self to withdraw.
dude is a total con artist. atimes i fail to belive the site actually have investors, cos no investor will want to invest in a site that scares players off with its habit. i think the bank roll is fake.
i have never seen an investor complain

[BoXXoB]

What happened to the 10% buyback of BKB tokens every 3 months? It now says this:

If you opt in to sell a percentage of your BKB balance will be traded for Bitcoin on November 1st 2018 at the BKB price and Bitcoin exchange rate on November 1st. Half of monthly site profit will be bought back in total. Everyone who has opted in gets equal percentage of total amount to be bought back. Prices shown above are estimates.

I've Opted in, but I don't think anything happened on November 1st. Is the 10% buyback entirely off the table now?

It is now:

* Monthly buybacks where half of the site profit is used to buy BKB
* Quarterly buybacks where the minimum bought back would total to 10% for the past 3 months

Quarterly buybacks are now entirely gone. I received an email labeled "Latest news, rebranding and BKB changes". In short: Half the profit will be used to buy back BKB tokens each month, and BetKing will rebrand from gambling to a Bitcoin bank/exchange. And under the name BitSafe they'll launch another ICO
I'd like to add a link, but can't find the email online. I'll quote the full email in code tags:

Code:

Latest news, rebranding and BKB changes

Latest BKB changes
 
We have tweaked the BKB buy back model.
 
Each month we will take the total profit BetKing makes from bankroll profit commission, trade fees on the exchange and 3rd party commission for licensing software.
 
Fifty percent of this profit will be used to buy back BKB at the current buy back price.
 
The tokens we buy back or earn in fees over the month will be burned.
 
The buy back price is determined by:
Previous months BKB price + (monthly site profit in $ / total BKB supply)
 
BKB was snapshotted at $0.099 on 2018-10-21 00:00 with 20 million of 100 million tokens burned, leaving 80 million.
 
What can BKB be used for?
 
The token can be used to get 50% discount on Bankroll profit commission when you invest BTC, ETH or LTC in our Dice game bankroll.
 
BKB can also be used to get 50% discount on trade fees on the BetKing exchange
 
BKB can be used to pay for withdrawl fees when withdrawing BTC, ETH or LTC to your wallet.
 
BKB can also be used to play Dice and get rakeback and prizes in our leaderboard contests
 
BKB can be traded on our exchange for Bitcoin
 
Future of BKB and BetKing
 
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
 
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
 
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
 
BTSC has similar utility to BKB in that it can be used to pay trade fees, merchant fees and any other fees on the BitSafe platform.
 
BitSafe will also use 40% of it's quarterly profit to buy back BTSC on the BitSafe exchange.
 
We believe these changes are best for BKB token holders and our future success together.

I recall from memory many promises around BetKing's ICO, and many of them have been broken (for instance not reselling BKB tokens after buying them back, the quarterly buy backs, the promises to add more games, and more). I didn't believe the math behind the (lack of) details in the whitepaper from the start, but all details are fragmented in many different topics on this forum, and I don't have the time to dig it all up now.
If I look at betking.io now, the chat is gone, the site looks worse than it ever looked, and it doesn't look anywhere near what was promised in the BKB ICO.

My guess: Bitcoin dropped so much that BetKing can't afford the buy backs anymore, since the BKB price is fixed in dollars. Spending half the profit on buy backs is a joke, the site barely has any players.
I remember Dean wanted something new when he closed BetKing, because he was tired of dealing with it. The site was profitable and trusted when it closed.
It looks like Dean finally found a new project to work on, but he's largely destroyed his reputation in the process.

Not that it's any of my business but an ICO after an ICO does indeed seem quite sketchy...

[RHavar]

What happened to the 10% buyback of BKB tokens every 3 months? It now says this:

If you opt in to sell a percentage of your BKB balance will be traded for Bitcoin on November 1st 2018 at the BKB price and Bitcoin exchange rate on November 1st. Half of monthly site profit will be bought back in total. Everyone who has opted in gets equal percentage of total amount to be bought back. Prices shown above are estimates.

I've Opted in, but I don't think anything happened on November 1st. Is the 10% buyback entirely off the table now?

It is now:

* Monthly buybacks where half of the site profit is used to buy BKB
* Quarterly buybacks where the minimum bought back would total to 10% for the past 3 months

Quarterly buybacks are now entirely gone. I received an email labeled "Latest news, rebranding and BKB changes". In short: Half the profit will be used to buy back BKB tokens each month, and BetKing will rebrand from gambling to a Bitcoin bank/exchange. And under the name BitSafe they'll launch another ICO
I'd like to add a link, but can't find the email online. I'll quote the full email in code tags:

Code:

Latest news, rebranding and BKB changes

Latest BKB changes
 
We have tweaked the BKB buy back model.
 
Each month we will take the total profit BetKing makes from bankroll profit commission, trade fees on the exchange and 3rd party commission for licensing software.
 
Fifty percent of this profit will be used to buy back BKB at the current buy back price.
 
The tokens we buy back or earn in fees over the month will be burned.
 
The buy back price is determined by:
Previous months BKB price + (monthly site profit in $ / total BKB supply)
 
BKB was snapshotted at $0.099 on 2018-10-21 00:00 with 20 million of 100 million tokens burned, leaving 80 million.
 
What can BKB be used for?
 
The token can be used to get 50% discount on Bankroll profit commission when you invest BTC, ETH or LTC in our Dice game bankroll.
 
BKB can also be used to get 50% discount on trade fees on the BetKing exchange
 
BKB can be used to pay for withdrawl fees when withdrawing BTC, ETH or LTC to your wallet.
 
BKB can also be used to play Dice and get rakeback and prizes in our leaderboard contests
 
BKB can be traded on our exchange for Bitcoin
 
Future of BKB and BetKing
 
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
 
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
 
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
 
BTSC has similar utility to BKB in that it can be used to pay trade fees, merchant fees and any other fees on the BitSafe platform.
 
BitSafe will also use 40% of it's quarterly profit to buy back BTSC on the BitSafe exchange.
 
We believe these changes are best for BKB token holders and our future success together.

I recall from memory many promises around BetKing's ICO, and many of them have been broken (for instance not reselling BKB tokens after buying them back, the quarterly buy backs, the promises to add more games, and more). I didn't believe the math behind the (lack of) details in the whitepaper from the start, but all details are fragmented in many different topics on this forum, and I don't have the time to dig it all up now.
If I look at betking.io now, the chat is gone, the site looks worse than it ever looked, and it doesn't look anywhere near what was promised in the BKB ICO.

My guess: Bitcoin dropped so much that BetKing can't afford the buy backs anymore, since the BKB price is fixed in dollars. Spending half the profit on buy backs is a joke, the site barely has any players.
I remember Dean wanted something new when he closed BetKing, because he was tired of dealing with it. The site was profitable and trusted when it closed.
It looks like Dean finally found a new project to work on, but he's largely destroyed his reputation in the process.

Sad. This marks Dean/betking.io moving into actual scam territory. The BKB token was an instrument that allow Dean to speculate in bitcoin price: He made a personal profit/loss from the buy back scheme depending on the current crypto prices compared to the ICO price.  While I know people were a bit upset when the price of crypto (especially bitcoin) sky-rocketed but the token price was still fixed to USD -- however it was always defended as fair because had crypto prices dropped -- the tokens would still have the buy-back scheme and still priced in USD and Dean would be taking a personal loss.

So he's been happy arbitrarily changing the terms, reaping the benefits when it was in his favor (even offering accelerated buybacks when bitcoin price was high) and now that BTC price is slightly lower ($4250 USD vs $4596) instead of taking a loss, he's just telling investors to fuck off. "Half the profit" thing is insulting, especially when he's pretty much sabotaged any potential for the site to make money and done ridiculous things like adding *another* investor-funded instead of using ICO funds like it was intended. (and the site is pretty much dead anyway)

On a personal note, I kind of dodged a bullet here. Dean spent quite a lot of time recently giving me extremely attractive offers to buy a large amount of BKB. I never accepted it, as the terms were so much in my favor it didn't make sense (compared to he could've had the same exposure for a fraction of the price by going on bitmex) and when I asked him how low btc price would need to get before he could no longer do the the buybacks , and he insisted that it could never happen and even if bitcoin price went down to $1 he had systems in place to sell btc to ensure he could always make investors whole. Now it's pretty clear the whole thing was in bad-faith, and the second things turned against him he pulls the plug.


Oh and to top it all off, this part really me laugh:

Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.

...which is currently significantly less than half its "buy back price"    Man, investors really got screwed here pretty badly. But if anyone feels left out from this reverse-gangbang at least he's offering a new ICO to get into.

[BoXXoB]

Sad. This marks Dean/betking.io moving into actual scam territory. The BKB token was an instrument that allow Dean to speculate in bitcoin price: He made a personal profit/loss from the buy back scheme depending on the current crypto prices compared to the ICO price.  While I know people were a bit upset when the price of crypto (especially bitcoin) sky-rocketed but the token price was still fixed to USD -- however it was always defended as fair because had crypto prices dropped -- the tokens would still have the buy-back scheme and still priced in USD and Dean would be taking a personal loss.

So he's been happy arbitrarily changing the terms, reaping the benefits when it was in his favor (even offering accelerated buybacks when bitcoin price was high) and now that BTC price is slightly lower ($4250 USD vs $4596) instead of taking a loss, he's just telling investors to fuck off. "Half the profit" thing is insulting, especially when he's pretty much sabotaged any potential for the site to make money and done ridiculous things like adding *another* investor-funded instead of using ICO funds like it was intended. (and the site is pretty much dead anyway)

On a personal note, I kind of dodged a bullet here. Dean spent quite a lot of time recently giving me extremely attractive offers to buy a large amount of BKB. I never accepted it, as the terms were so much in my favor it didn't make sense (compared to he could've had the same exposure for a fraction of the price by going on bitmex) and when I asked him how low btc price would need to get before he could no longer do the the buybacks , and he insisted that it could never happen and even if bitcoin price went down to $1 he had systems in place to sell btc to ensure he could always make investors whole. Now it's pretty clear the whole thing was in bad-faith, and the second things turned against him he pulls the plug.


Oh and to top it all off, this part really me laugh:

Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.

...which is currently significantly less than half its "buy back price"    Man, investors really got screwed here pretty badly. But if anyone feels left out from this reverse-gangbang at least he's offering a new ICO to get into.

So not only did he lie pretty much straight into your face he tried to drag you into it. Arguably knowing you would probably get screwed. As far as I know there was some crumbs of information regarding an exchange from him somewhere. Fail to remember where exactly I saw that.

[BayAreaCoins]

I've been screaming from the rooftop since 2013 trying to warn folks about Dean.

It's hard for me to feel bad about the educated Bitcointalk folks that got scammed, but the poor noobs.

[BillyBurns]

Withdrawal pending will update when cashout processed

[Jungian]

Withdrawal pending will update when cashout processed

Same here. 24 hours waiting.

[LoyceV]

Withdrawal pending will update when cashout processed

Now we know why the chat was removed from the site.

[BillyBurns]

Withdrawal pending will update when cashout processed

Received

[JollyGood]

What happened to the 10% buyback of BKB tokens every 3 months? It now says this:

If you opt in to sell a percentage of your BKB balance will be traded for Bitcoin on November 1st 2018 at the BKB price and Bitcoin exchange rate on November 1st. Half of monthly site profit will be bought back in total. Everyone who has opted in gets equal percentage of total amount to be bought back. Prices shown above are estimates.

I've Opted in, but I don't think anything happened on November 1st. Is the 10% buyback entirely off the table now?

It is now:

* Monthly buybacks where half of the site profit is used to buy BKB
* Quarterly buybacks where the minimum bought back would total to 10% for the past 3 months

Quarterly buybacks are now entirely gone. I received an email labeled "Latest news, rebranding and BKB changes". In short: Half the profit will be used to buy back BKB tokens each month, and BetKing will rebrand from gambling to a Bitcoin bank/exchange. And under the name BitSafe they'll launch another ICO
I'd like to add a link, but can't find the email online. I'll quote the full email in code tags:

Code:

Latest news, rebranding and BKB changes

Latest BKB changes
 
We have tweaked the BKB buy back model.
 
Each month we will take the total profit BetKing makes from bankroll profit commission, trade fees on the exchange and 3rd party commission for licensing software.
 
Fifty percent of this profit will be used to buy back BKB at the current buy back price.
 
The tokens we buy back or earn in fees over the month will be burned.
 
The buy back price is determined by:
Previous months BKB price + (monthly site profit in $ / total BKB supply)
 
BKB was snapshotted at $0.099 on 2018-10-21 00:00 with 20 million of 100 million tokens burned, leaving 80 million.
 
What can BKB be used for?
 
The token can be used to get 50% discount on Bankroll profit commission when you invest BTC, ETH or LTC in our Dice game bankroll.
 
BKB can also be used to get 50% discount on trade fees on the BetKing exchange
 
BKB can be used to pay for withdrawl fees when withdrawing BTC, ETH or LTC to your wallet.
 
BKB can also be used to play Dice and get rakeback and prizes in our leaderboard contests
 
BKB can be traded on our exchange for Bitcoin
 
Future of BKB and BetKing
 
BetKing will be moving away from gambling and rebranding to become a Bitcoin bank, exchange and payment processor.
 
We have already began work on this and we will launch in q1 of 2019. See https://bitsafe.io for more details and a working demo of the app.
 
Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.
 
BTSC has similar utility to BKB in that it can be used to pay trade fees, merchant fees and any other fees on the BitSafe platform.
 
BitSafe will also use 40% of it's quarterly profit to buy back BTSC on the BitSafe exchange.
 
We believe these changes are best for BKB token holders and our future success together.

I recall from memory many promises around BetKing's ICO, and many of them have been broken (for instance not reselling BKB tokens after buying them back, the quarterly buy backs, the promises to add more games, and more). I didn't believe the math behind the (lack of) details in the whitepaper from the start, but all details are fragmented in many different topics on this forum, and I don't have the time to dig it all up now.
If I look at betking.io now, the chat is gone, the site looks worse than it ever looked, and it doesn't look anywhere near what was promised in the BKB ICO.

My guess: Bitcoin dropped so much that BetKing can't afford the buy backs anymore, since the BKB price is fixed in dollars. Spending half the profit on buy backs is a joke, the site barely has any players.
I remember Dean wanted something new when he closed BetKing, because he was tired of dealing with it. The site was profitable and trusted when it closed.
It looks like Dean finally found a new project to work on, but he's largely destroyed his reputation in the process.

Well nothing surprises me about scammer Dean Nolan. He is now looking to raise $10 million for his "bitsafe" exchange.

It seems extremely clear and extremely obvious scammer Dean Nolan wants to have ICOs every year just to line his own pocket as a get rich quick scheme.

After shutting scam betking website down in the coming weeks he will probably have another ICO a year later to "re-open" betking.

His reputation was known to many of us years ago but because he was on good terms with several users here he used that as cover to scam his victims.

Now everybody knows scammer Dean Nolan and his reputation is destroyed and I am very happy about that.

[JollyGood]

now he has  stopped the wager contest.
that is the end of his site cos no one will go playing there.
yes his support is good, but his attitude sucks.
he wont even pay you your winnings promptly. that is the first site where you have to stress your self to win then stress your self to withdraw.
dude is a total con artist. atimes i fail to belive the site actually have investors, cos no investor will want to invest in a site that scares players off with its habit. i think the bank roll is fake.
i have never seen an investor complain

The betking bankroll was part of the ICO scam from the beginning.

Scammer Dean Nolan claimed at least 50% of the ICO funds were going to the bankroll but certainly did not seem so.

Dean Nolan is a compulsive lair as well as scammer. Another ICO for another "project". Now he is looking for $10 million to fund his "bitsafe exchange".

Already email have been sent out to betking investors saying "betking" will re-brand as "bitsafe" and move away from gambling and in to payment processing and exchange and also said that their scam BKB tokens will be converted to BTSC tokens when the "bitsafe" site goes live yet this super-scammer Dean Nolan makes no mention of this on the betking.io website where he still sells "investment" BKB tokens without telling investors of his plans about his "bitsafe" scam: https://betking.io/invest

Code:

Be the bank at BetKing

BetKing allows you to invest in the house bankroll, the funds that players bet against.

By investing in BetKing you increase the bankroll and also the maximum profit a player can win per bet. This attracts more players. You will receive a share of the profit the site makes
from player losses. But you will also share the loss when a player wins.

BetKing allows players to bet in 4 different currencies and you can invest in each bankroll, Bitcoin, Ethereum, Litecoin and BKB.

Currently your investment will be used for the dice game but in future you will have the option to invest in the bankroll used for other casino games and sports.
The dice game has a 1% house edge which means in the long run the site expects to make a profit of 1% of the total wagered amount.
In the short term the house can still lose money due to variance. If a player makes a lot of large bets the house can win or lose more than the expected 1%.

If you feel that the risk of short term potential losses on your investment do not outweigh the long term potential profit please do not invest.
How does it work?

Here's a basic example:

If the house had one investor who invested 9 Bitcoin and you invested a further 1 Bitcoin, you would then have invested 10% of the total house bankroll of 10 Bitcoin.
The other investor would now be providing 90% of the bankroll. If a player made a bet of 0.1 Bitcoin and lost the bankroll would increase to 10.1 Bitcoin and you would have a
total investment of 1.01 Bitcoin. If the player won the new bankroll would be 9.9 Bitcoin and your total investment would be 0.99 Bitcoin.

BetKing allows you to reduce your counter party risk meaning you don't have to deposit your full investment amount to the site. This works by
letting you set how much of your investment is at risk each bet. The default is 0.5%.

Lets assume you want to invest 10 Bitcoin at the default risk of 1/2 leverage but don't want to have the risk of a site operator holding on to all your Bitcoin.
You could instead deposit 0.5 Bitcoin and invest at 10x leverage.

This puts more of your investment at risk each bet and you may need to redeposit and top up your investment account frequently due to the variance of the game.
So you should have the coins in your own cold wallet to back up the desired investment total. Obviously some people may just want to gamble and risk their full 10 Bitcoin at 10x to try
and maximize profit. This is not recommended though.

Frequently Asked Questions

Is there any commission charged on investment?

At the end of each week, Monday midnight GMT, or when you divest 30% commission will be deducted from your profit. This commission is only charged on new profit.
So you will not be charged when your profit falls below the amount that is already been charged. When you withdraw funds you can withdraw your initial investment without paying commission.
Only profit withdrawn will have commission charged.
BKB commission discount

We do offer a way for investors to reduce the commission they pay. They can pay 50% of their commission due using BKB at a 50% discount.

If for example you made a profit of 1 Bitcoin and were due to pay 0.3 Bitcoin commision, you could save 0.075 Bitcoin by paying the equivilent of 0.075 Bitcoin in BKB tokens.

BKB is the token that we created in our ICO and can be used to pay commission, withdrawal fees and trading fees as well as to play or earn rewards.

We are launching an exchange on BetKing soon where you will be able to trade BKB for Bitcoin, Litecoin and Ethereum.

If you would like to purchase BKB before then to get commission discounts then feel free to trade in the community or email admin@betking.io

For more information on BKB and how it's price is calculated visit here


How is Maximum profit calculated?

The maximum payout of the site is calculated by taking the sum of all the investments * risk * 0.01. So imagine we had investor A with 10 Bitcoin invested at 1/2 leverage,
investor B with 10 Bitcoin at 5x leverage and investor C with 10 at 10x leverage. The maximum payout would be:

(10*0.5*0.01) + (10*5*0.01) + (10*10*0.01) = 1.55 Bitcoin


How is my profit calculated?

The higher your risk the more you stand to win or lose each bet. So each bet your investment will be updated like so:

i = i + ((-p * i * r * 0.01) / m)

Where:

    p = the players profit for that bet
    i = the amount you have invested
    r = your risk
    m = the current max payout

In the above example lets say a player bets 1 Bitcoin and wins. The current investments would then be:

    iA = 10 + ((-1 * 10 * 0.5 * 0.01 )/1.55) = 9.96774193
    iB = 10 + ((-1 * 10 * 5 * 0.01 )/1.55) = 9.67741935
    iC = 10 + ((-1 * 10 * 10 * 0.01 )/1.55) = 9.35483870

Max payout on the next bet would then be:

(9.9677*0.5*0.01) + (9.6774*5*0.01) + (9.3548*10*0.01) = 1.46919354


Can i lose money?

Yes! The variance of the game may mean that you can lose some of your investment in the short term, especially if you have set a high risk without the funds to back it up off-site.

Although every step has been taken to secure funds by keeping them offline in cold storage, allowing two factor authentication on accounts, offering emergency withdrawal address,
testing and auditing the code and allowing leveraged risk, there is still a risk investing.

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It seems scammer Dean Nolan has only tried to dupe his betking scam investors and those on the betking mailing list to send crypto for his "bitsafe" scam.

After failing to achieve a significant amount of investment he has closed the bitsafe Telegram channel and placed a "coming soon" page on the bitsafe website.

He says he will try to re-launch the ICO soon with the aim of getting $10 million from the ICO  

What an evil, greedy, scammer pathetic low-life Dean Nolan is

[zupdawg]

I wonder if this bitsafe project will get decent amount of money from investors after the betking scam, ofcourse a proof of ownership from ICO addresses and not just fake numbers on the website

[JollyGood]

Sad. This marks Dean/betking.io moving into actual scam territory. The BKB token was an instrument that allow Dean to speculate in bitcoin price: He made a personal profit/loss from the buy back scheme depending on the current crypto prices compared to the ICO price.  While I know people were a bit upset when the price of crypto (especially bitcoin) sky-rocketed but the token price was still fixed to USD -- however it was always defended as fair because had crypto prices dropped -- the tokens would still have the buy-back scheme and still priced in USD and Dean would be taking a personal loss.

So he's been happy arbitrarily changing the terms, reaping the benefits when it was in his favor (even offering accelerated buybacks when bitcoin price was high) and now that BTC price is slightly lower ($4250 USD vs $4596) instead of taking a loss, he's just telling investors to fuck off. "Half the profit" thing is insulting, especially when he's pretty much sabotaged any potential for the site to make money and done ridiculous things like adding *another* investor-funded instead of using ICO funds like it was intended. (and the site is pretty much dead anyway)

On a personal note, I kind of dodged a bullet here. Dean spent quite a lot of time recently giving me extremely attractive offers to buy a large amount of BKB. I never accepted it, as the terms were so much in my favor it didn't make sense (compared to he could've had the same exposure for a fraction of the price by going on bitmex) and when I asked him how low btc price would need to get before he could no longer do the the buybacks , and he insisted that it could never happen and even if bitcoin price went down to $1 he had systems in place to sell btc to ensure he could always make investors whole. Now it's pretty clear the whole thing was in bad-faith, and the second things turned against him he pulls the plug.


Oh and to top it all off, this part really me laugh:

Once the new site is live BKB will be converted to BTSC (BitSafe Coin) automatically using the exchange rate of both tokens at the time.

...which is currently significantly less than half its "buy back price"    Man, investors really got screwed here pretty badly. But if anyone feels left out from this reverse-gangbang at least he's offering a new ICO to get into.

What an excellent post, thank you.

You definitely have covered many facts.

It seems clear he was trying to scam you in to investing in betking tokens at rates seeming to be good to be true all the while he wanted to steal your crypto from you to swap for useless and worthless betking tokens, thankfully you did not trust him. Just imagine how many other people he tried to fool with the same story and imagine how much money he made from it.

The good news is that the new "bitsafe" scam Telegram channel is closed because of lack of investment. The website bitsafe.io is down too.

This scammer Dean Nolan wants to have ICOs every year for "new" projects. He closed the betking.io in 2016 when it was profitable because he wanted more money from the deal he initially offered investors so he wanted an ICO. After the ICO he re-launched the same website with no modifications in breach of the whitepaper so it was a clear lie and clear scam. The re-launched post-ICO betking failed badly as people moved on to Primedice and Stake and other gambling/gaming websites.

Scammer Dean Nolan made it clear he will closes the betking scam down when he launches his new "bitsafe" scam but he will come back in November or December 2019 for another ICO saying that he will re-launch a new updated "betking". He will try to get a few million US$ in the ICO and will re-launch the same identical website with him making millions off the back of newbies and gullible investors.

Dean Nolan is compulsive liar and greedy scammer