You have a profitable business yet you need to sell some. I dont buy it.
How about this for a possible explanation:
While the business is profitable, most of the profit has been from a few large whales. Whale sightings have been getting rarer and rarer. DN worries that BTC whales are going extinct, which would leave him with very little volume, and so he figures it's better to sell 30% of the business for 2000 BTC now while he can boast of relatively high profits over the last year.
That would seem to make sense. While he could end up missing out on a bunch of value if betting volume doesn't die off, it's a hedge against that eventuality.
Much the same as when the commission model switched from taking a percentage of investor profits to taking the commission up front, as a percentage of the *expected* profits. That was a hedge against the site performing badly. It turned out to be a bad decision, since the site performed way better than expected, but it did limit the site's worst-case commission take.
tl;dr: selling 30% of the business now makes sense as a hedge against possible future outcomes
Does it have to be all doom and gloom?
FYI the site has made 154 profit in the past 17 days. There's no worry from me that the traffic will slow or the whales won't come.
It's business. I don't know why you guys don't understand businesses trying to grow. It happens a lot outside the Bitcoin gambling world btw.
I could sit and do nothing and let BetKing make me a good profit for two years if I liked.
But I would rather grow it and bring in players for all forms of betting. Plus a few other revenue streams we have planned.
You see the success of PrimeDice, Bustabit, Nitrogen, Bitcasino.io, Just-Dice and BetKing? I want to build to be so far ahead of all combined by a huge margin.
That's what we're doing raising extra funds here.
Not because I'm scared of traffic decreasing because it's not going to.
