[ANN] BetKing.io ICO - Bitcoin Gambling website - 581.4 BTC raised so far - page 17.

knircky

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Quote

Shares:
BetKing will create 100,000,000 tokens (100 million) to represent 100% shares of BetKing.
No new tokens will be created.

30,000,000 (30%) of these tokens will be distributed to investors at the end of the ICO.

The remaining 70,000,000 (70%) will remain in the ownership of BetKing.
We may offer some of these shares in future to potential new staff or contractors as bonuses.

Does this mean that you are valuing the company at 9K bitcoins and selling 30% of the shares to the public while keeping 70%.

What does "will remain in the ownership of BetKing." mean, does the mean the current owner?

What is confusing to me is if you are selling Betking or if you are only selling 30% of it for 2k coins or more.

Persepolis

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Quote from: Chevas Regal on December 01, 2016, 10:04:42 AM

Quote from: Persepolis on December 01, 2016, 09:49:54 AM

i don't necessarily disagree, but your figures seem quite low.

>>The past week, there has been ~670 btc wagered on Betking. That is an expected profit of 6.7 btc/week, or $5,000 per week

my personal returns for the past 60 days was an average of 1.5 BTC per month, and i was about 1% of the bankroll. So i would guesstimate its about 35 BTC per week, not 6.7.

what was your Invested amount?

63

Chevas Regal

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www.tgtcoins.com/ico

Quote from: Persepolis on December 01, 2016, 09:49:54 AM

i don't necessarily disagree, but your figures seem quite low.

>>The past week, there has been ~670 btc wagered on Betking. That is an expected profit of 6.7 btc/week, or $5,000 per week

my personal returns for the past 60 days was an average of 1.5 BTC per month, and i was about 1% of the bankroll. So i would guesstimate its about 35 BTC per week, not 6.7.

what was your Invested amount?

ruru

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GET IN - Smart Ticket Protocol - Live in market!

Quote from: Persepolis on December 01, 2016, 09:49:54 AM

i don't necessarily disagree, but your figures seem quite low.

>>The past week, there has been ~670 btc wagered on Betking. That is an expected profit of 6.7 btc/week, or $5,000 per week

my personal returns for the past 60 days was an average of 1.5 BTC per month, and i was about 1% of the bankroll. So i would guesstimate its about 35 BTC per week, not 6.7.

He means expected value. The site was supposed to make only 6.7 BTC in "theory".. but the site has been super lucky so you made more than theory.

Persepolis

newbie

Activity: 32

Merit: 0

i don't necessarily disagree, but your figures seem quite low.

>>The past week, there has been ~670 btc wagered on Betking. That is an expected profit of 6.7 btc/week, or $5,000 per week

my personal returns for the past 60 days was an average of 1.5 BTC per month, and i was about 1% of the bankroll. So i would guesstimate its about 35 BTC per week, not 6.7.

BetKing.io

legendary

Activity: 1400

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Quote from: anonbit992 on December 01, 2016, 07:07:50 AM

I wish all the best to betking for raising 2000BTC. I will look to invest some amount. Is there a counter to know how much funds have been collected so far? I just checked and couldn't find the total funds collected by this ICO.

At the end of each day I will send all invested funds to one Bitcoin address that everyone can see. The address will be added to the OP later today.

anonbit992

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A Trader & An Investor

I wish all the best to betking for raising 2000BTC. I will look to invest some amount. Is there a counter to know how much funds have been collected so far? I just checked and couldn't find the total funds collected by this ICO.

BetKing.io

legendary

Activity: 1400

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Any accounts < snr member asking for escrow will be deleted as I will assume they are sig spam.

ICO IS LIVE NOW.

bad_ip

newbie

Activity: 15

Merit: 0

I've been lurking Dean / betking.io's threads for a long time now. He had 6k BTC / 4.5M USD of other peoples money he could have easily walked off with and did not. In addition, this guy has his actual real name on the business, this is not some anonymous enterprise.

If you invest in this business, you invest in Dean himself for what he has accomplished and what he might accomplish. No escrow necessary.

My questions for BetKing:

1) You don't take UK players, but do you have corporate tax liability in UK with earnings in BTC? (I'm not aware how UK treats BTC capital growth)

2) Any plans to get a Curacao or Malta gambling license for 3rd party games in the future?

3) Any concerns about "snoopers charter" in the UK? Are you hosted there?

LoyceV

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Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: ndnh on November 30, 2016, 10:35:35 PM

Yes, but consider the fact that you can have more than one escrow, and that OP already is trusted with thousands of bitcoins, this is no reason to trust him with an additional 2000 or more. Grin

He gave back (or will give back) all invested money today.
Who would you trust more, an "escrow", or the guy who managed up to 6000 Bitcoins of other people's money for years?

An escrow is good as a middle man to complete a transaction between parties. This transaction won't be completed in that sense: if the money is used to start another project, it has to come out of escrow.

TheFuneral

sr. member

Activity: 356

Merit: 250

Quote

The distribution method is yet to be finalised and will be either via a new alt coin, counterparty, colored coins or some other method.
The decision will be made and implemented before the end of the ICO and your shares will be ready to be distributed immediately.

Dividends:
We will pay dividends as a share of the total profit (revenue-expenses) generated by BetKing in Bitcoin every 3 months.
This may change to be more frequent, e.g. a month, after the first dividend payment.

To be clear well know by January 1st how these tokens are sellable for bitcoin?

Also curious to understand what determines the change in frequency and how you decide revenue-expense. Some businesses choose to dump all revenue into expenses and if you were to do this then investors would never get anything back. What determines how that flows?

Thanks for offering this and answering questions,

puremage111

hero member

Activity: 1568

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Quote from: monbux on November 30, 2016, 11:58:48 PM

lol, I see more spammers on this thread than actual interested investors.
but yes, I am interested too, might've missed it, but how much of the funds raised will go directly towards bankroll?

yea wondering too, as we cannot see how much is invested, is there any address for total invested amount?

monbux

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lol, I see more spammers on this thread than actual interested investors.
but yes, I am interested too, might've missed it, but how much of the funds raised will go directly towards bankroll?

win win win

sr. member

Activity: 277

Merit: 255

Is their a location to observe the invested amounts per day in the ICO?

Is it possible to learn about the marketing team you spoke of? What other sites have they work on etc?

Persepolis

newbie

Activity: 32

Merit: 0

Quote from: someone111 on November 30, 2016, 09:02:25 PM

Quote from: BetKing.io on November 29, 2016, 03:47:54 AM

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price.

Who will get the other 70%?

Who do you think... Betking (Dean) would since he controls that 70%

ndnh

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New Decentralized Nuclear Hobbit

Quote from: BetKing.io on November 30, 2016, 03:49:11 PM

To clear things up, of course there will be no escrow. It is not needed at all in this case.

Let the investors decide?

Quote from: ndnh on November 30, 2016, 02:03:23 PM

What is the bankroll after a successful ICO?

Quote from: NBward6 on November 30, 2016, 07:49:24 PM

How much of the raised funds will make up the house bankroll?

OP please answer this.

Quote from: RedGolpe on November 30, 2016, 02:16:58 PM

So you trust an escrow because it is trusted. Same reason why several BetKing investors trust it.

Yes, but consider the fact that you can have more than one escrow, and that OP already is trusted with thousands of bitcoins, this is no reason to trust him with an additional 2000 or more. Grin

someone111

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Activity: 453

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Quote from: BetKing.io on November 29, 2016, 03:47:54 AM

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price.

Who will get the other 70%?

NBward6

newbie

Activity: 28

Merit: 0

How much of the raised funds will make up the house bankroll?

Will the bankroll grow, or will all profit be distributed?

How will you determine the max bet size?

BetKing.io

legendary

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Quote from: RHavar on November 30, 2016, 04:48:06 PM

Looks like quite an opportunity. I echo the sentiments that using an escrow would be stupid and only serve to expose investors to additional risk.

I do however have a couple quick questions:

Quote from: BetKing.io on November 29, 2016, 03:47:54 AM

The remaining 70,000,000 (70%) will remain in the ownership of BetKing.
We may offer some of these shares in future to potential new staff or contractors as bonuses.

So just to be clear, from a traditional finance reading this sounds very much like you are you are selling 100% of the company. Is this intentional, or did you mean to say that you will personally own those remaining 70% shares?

Quote

If BetKing were to be closed unexpectedly for any reason or lost market share to where it stopped generating profit then 30% of the Bitcoin held would be distributed to investors. Any assets including the software could be sold and 30% of the sale price distributed to investors.

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price.

To help me understand this, could you work through a concrete example? Lets say you raise exactly 2000 BTC and then found a potential buyer who bought sold the site for 3000 BTC the very next day. How much money would would the original investors expect to see back?

Hi, thanks.

1) I'm not selling 100% no, selling 30% of all shares and keeping 70% to represent the remaining part of the company.

2) So what would happen there is investors would receive 30% of the total share price if someone bought out the company in full the next day. Obviously if we raise 2000 for 30% then we won't be selling 100% for anything less than ~8k or whatever. So investors would benefit from this scenario.

RHavar

legendary

Activity: 2557

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Looks like quite an opportunity. I echo the sentiments that using an escrow would be stupid and only serve to expose investors to additional risk.

I do however have a couple quick questions:

Quote from: BetKing.io on November 29, 2016, 03:47:54 AM

The remaining 70,000,000 (70%) will remain in the ownership of BetKing.
We may offer some of these shares in future to potential new staff or contractors as bonuses.

So just to be clear, from a traditional finance reading this sounds very much like you are you are selling 100% of the company. Is this intentional, or did you mean to say that you will personally own those remaining 70% shares?

Quote

If BetKing were to be closed unexpectedly for any reason or lost market share to where it stopped generating profit then 30% of the Bitcoin held would be distributed to investors. Any assets including the software could be sold and 30% of the sale price distributed to investors.

There’s also the possibility in future for BetKing to be acquired by a bigger company in which investors will share 30% of the total sale price.

To help me understand this, could you work through a concrete example? Lets say you raise exactly 2000 BTC and then found a potential buyer who bought sold the site for 3000 BTC the very next day. How much money would would the original investors expect to see back?

Topic: [ANN] BetKing.io ICO - Bitcoin Gambling website - 581.4 BTC raised so far - page 17. (Read 29690 times)