Topic: [ANN] BetKing.io ICO - Bitcoin Gambling website - 581.4 BTC raised so far - page 19. (Read 29732 times)

Why there's no escrow for this ICO?

I'm intrigued by this ICO and more in particular the possibility of having Cryptoshares. Or maybe a better word: a Stockchain. I did read you're not sure yet about how to implement it exactly, but I'd love to see this succeed, and hopefully this idea can eventually expand to many other stocks.

Is there a plan in case something happens to you? Let's hope not, but you're talking big money here. Even Satoshi suddenly disappeared from the forum.

I remember from Mt.Gox-data that many people owned very small amounts, and only a few people owned almost everything. I do like a low minimum, but I'd be surprised if the small investors make up even 1% of the total amount raised.

I think it's clear that there's more money for new developments. But what "win win win" means (in my opinion) is that the ROI from buying 30% of the current dice site gets worse when more money is raised. Say someone invests 1000 Bitcoin. If 2000 Bitcoin is raised, he ownes 50%, meaning he'll get 15% of all revenue. But if 10,000 Bitcoins are raised, this guy's 1000 Bitcoin is only 10%, and he'll only get 3% of all revenue.
At any "traditional" IPO, the share price is fixed upfront, so you know what percentage of the company you're buying.
That's a bit confusing: you pay upfront without knowing what percentage you get.

The way I see it: after working on it for years, the owner wants some cash. He tried to sell it, but not many people who can afford it also want the "hassle" of running a dice site. That leaves very few buyers.
Now he sells 30%, gets to keep 70%, and still gets enough cash to start other projects. And he'll own those projects for 70%.

7000btc profit did not go straight to the owner because it was an investor backed bankroll that received there share.
If i understand correct the owner will make the bankroll private so maybe thats where his personal profit went.

I will be keeping an eye on this ICO. It does seem strange that a site that has had 7000btc profit would need to start an ICO though so some digging is needed I think.

Regardless whether the ICO raise more than 2000btc or not, 30% of the share will be given to the investors. It is just that if the amount raise is higher, you will get less share because you contribute a lesser percentage. Similar you will get more if the amount is lesser.

This has been answered about 10 times now. Including in the posts above. I'm going to start assuming any newbie accounts are spam to try and get their post count up to be able to join sig campaigns and delete them. We don't need constant noise in this thread.

Thanks

Hello all,

We are the ICORating team.

We’re creating the most detailed database of every company that is having, or planning to have, an ICO. We’re also developing ratings and analytical reports that will increase potential investors’ awareness on such companies.

We’re happy to announce that BetKing.io is now listed on our website. Check it out here http://icorating.com/project/27/BetKing.

We appreciate any feedback. Please feel free to contact us if there are any additions/corrections you want to insert.

I want to ask if the ICO raised more than 2000BTC, the Betking.io will still hold on to the 70% of the shares or they will release part of their shares to investors.

It is determine by supply and demand. At first, you will be given shares and by calculating how many btc you put in and the share given, you can find out the cost of each share and that would be usually the starting price of the market. However, demand or supply in the market will change over time so the price of the share will go up or down.

What is going to happen is that there is no fix at 2000btc. If betking is manage to raise 4000btc and you contribute like 40btc which is 1%, you will get 1% of the share. If betking mange to raise 2000btc, you contribute like 40btc which is now 2%, you will get 2% of the total share. So you will realise that if the raise amount is more, you will get less share but your share will worth more. But if it is raise less, you get more share but each share will worth less. But do take note that in the end, the share will be determine by the market, so you are exposed to trading risk.

I can't see that mentioned but thanks for the clarification. I guess I'm out then. For now at least.

As mentioned the price is determined by demand.

There is no mention of the price of these shares. I can see two possibilities:

1. Everything above 2000 BTC is returned proportionately to the investors, so for example an investor putting up 20 BTC and there is 4000 BTC invested in total, he will get 20/2000=1% of the shares and 10BTC is refunded.
2. The price for each share is determined purely by demand, our investor with 20 BTC will get 20/4000=0.5% of the shares and no refund of BTC.

Which is it?

The value comes from the fact that shareholders will be paid dividends of the profit BetKing generates.
The more profit BetKing makes the more value the shares will have on the open market.

Hey, sorry if it is a stupid question,
But what exactly gives value to the shares? I mean how is it decided in case someone wants to sell his shares.
And the three montly dividends, is it payed in btc or in the form as shares?

Betking expanding its brand is great news. I just read this yesterday evening. I am currently trying to analyze some of the terms. One thing I am yet to decide is investing and receiving only 30% of its value. This means that if i'm going to sell my share I need to price it at more than 300% of its value just to break-even my investment, which seems difficult and unwise. I am sure site's maintenance and other expenses will be high due to its added features but I guess it also means more incoming profit. I think 30% profit share to investors is also quite low. Or maybe it's possible that 70% to 80% of the tokens will be distributed to investors to make up with the 30% profit shares. I might be assessing to early on this so i'll be happy reading others opinions. Cheers.

You might want to reconsider your dividend period. IMO 3 months is quite a long period to wait and many others would think the same too. Right now your site is offering instant withdrawal from investment, so i think that something around fortnightly dividends would probably do the trick.

The ETA right now is not set in stone for any product. All will be completed in 2017 though, as early as possible.
We will use our own in house developed casino software.
We used other companies before and they don not provide provably fair games and can actually cheat you without you being able to prove otherwise. House and player.

I'm not setting a marketing strategy yet either. I have done basic promos like these in the past. However I will be getting professional marketing help moving forward. A previous investor has put me in contact with some great people with a lot of industry experience for to help with this.

I am not going to allow cancelations or refunds.
If the site raises more than the 2000 then that is more money to use on marketing and dev.
Which means products are released faster and more traffic is generated which means faster ROI.

Thanks

I have many questions,

What are the ETA on sports betting rollout, casino etc?
Which casino software will you be going with?
What type of promotional structure will you use? welcome bonus, VIP club, free bets etc?

With the structure of the investment, Will you accept cancellations before Jan 1st for early investors?
That is my biggest issue, A BTC2000 investment makes a valuation of BTC6666 for the total site, A BTC5000 total investment means the site needs to be worth BTC16,667 to make it a break even investment?

The main target for this ICO is the current BetKing bankroll investors. We have been talking about this kind of idea for around a month.
The bankroll investors are being divested on Thursday and some would like a new investment to be part of so this is the best time.

That is why there's no major ICO advertising being done here. There's 6000 Bitcoin leaving BetKing on Thursday and we're looking to raise 2000.