Topic: BetKing.io - FOR SALE - 7100 BTC PROFIT - Bitcoin gambling site - page 2. (Read 5099 times)

ouch 

5x annual profit is an interesting multiple...

Thanks for reading the site

Clearly a lot of mistakes in the calcs of this, and assumptions are huge yes. A lot more information would be required for a real buyer.

Very rushed article and it is very late where I am. Apologies for that.

- Article has been changed to reflect the commission structure of 50% not 25%.
- 3.5 years changed to 2 years
- The fact that you have additional funds in the bankroll change nothing for the value of the site stand alone in my opinion.
- Running cost is like that because you run it full time. Sure you pay yourself no salary, but still your time needs a value still.
- I assume the new owner can attract new investors to the bankroll, if not it should have a negative impact on the price.

Glad to hear everyone's opinions on a valuation Always glad to change any mistakes or add further information.

I've personally donated a good 30 BTC to the dice bankroll

This is the most inaccurate article about BetKing you could possibly write.

No fact checking or any idea how BetKing works even though you are an investor.

First, the commission is 25% of profit weekly and 25% of edge on wagered. That effectively gives BetKing 50% of all profit.
You also have to consider that at any time I have between 10-20% of the bankroll too.

You state it's 7000 profit in 3.5 years which shows you didn't bother reading the OP.
BetKing was a poker site for a whole year and we didn't really start doing dice until Just-Dice closed in 2014.
So the profit is for a little over 2 years and 4000 Bitcoin of that is this year.
So your estimate of my earnings is way off.

You make a very odd assumption about the running costs too.
BetKing costs a little under £1000 a month to run. That's it. No admin, marketing, wages etc etc.
So think what someone who knows about marketing could do with the site.

Your valuation is made on the assumption that the site would transfer investors over to knew owner which is clearly stated in the ad that this isn't what would happen, for very obvious reasons.

The ad is targeted at someone who would bankroll the site themselves, maybe made up of a small group of private investors. That's the fastest way to make initial investment back and profit on top.

So now. Assume BetKing has made 7100 Bitcoin in a little over 2 years, 4000 this year and then think about just how much it is worth.

No offence but that article has a lot of assumptions and guesswork contained in it.

Have you contacted the owners of BetKing to establish any facts or figures at all?

I like your website which I read often and I also enjoy reading your gambling investment thread on a daily basis but I have to be honest,
that article is quite poor.  

Like I have already said, it contains too much guesswork and speculation.

You should never sell anything if think betking is worth that. Please stop pretend you know anything about price. If i was dean i would not sell bellow 5x yearly profit. Try find a bitcoin site that give u more then 20% yearly if you got alot of btc.

We just released an article on the potential BetKing sale. It also includes our back of envelope evaluation of the potential price of the sale.

Read it here: http://bitcoingamblingreviews.com/betking-sale/

We think it is roughly worth between 3,372 bitcoins to 4,215 bitcoins. Of course other people will have drastically different valuations.

EDIT: mistakes changed on some variables - massive one being the 25% changed to 50% of profit taken by the site.

I don't know what the big deal is

As said, it's posted so if someone wants to make an offer I'll consider it.
If no one makes a decent or realistic one I won't sell.

In other news, the site is not going to remain stagnant just because I put it up for sale.

I'm running a promo later tonight where I'll be giving away 4 Bitcoin and a new sig campaign should start in the next few days.

Thanks

drama has begun

wow this is huge news!

This is really shocking news, betking.io is nice gambling site though but its really difficult if you don't have enough time to spare in this kind of business as an owner of the said site.
But I hope you the best @OP good luck to your sale, wish that someone will buy this with a nice man as like as betking.

1500 btc? What the.. Its  too  huge amount   but still a  good  investment for someone  who  would   buy this  site. Profits are  guaranteed for sure.  1500  btc is already 50 million  on   my country  which  i could already  build a  house and   a  decent  life. i think  thats the  highest  offer  for  now  and  OP  would really search for  more for sure. Betking is  a profitable  gambling site. There would  be no regrets on  the new owner. 

1500 BTC Highest offer? Damn. I'd honestly be interested in participating in a group buy in a fashion much like MoneyPot's

Good luck with the sale, hope it gets to the right hands and you come back with a new business!

That is sure a big offer, but if it all works very well, it probably would be a good investment.