Topic: BetKing.io is a blatant scam operated by Dean Nolan - page 41. (Read 31318 times)

Do you honestly think that Dean Nolan with all those FREE millions US$ he is holding in hand he made from the Betking ICO is actually going to respond to you?

We wait and see how he can justify his actions and words by saying you are happy with a 54% loss on your investment which you can recoup at only 10% per every quarter so it would be a guess as to how much you might lose by the next quarter buy-back. And that 54% loss will become even bigger if you were to trying to sell those tokens on an exchange since the demand for them is non-existent.

How does Dean Nolan address your concerns? First he locks the Betking thread so any voices of concern are suppressed and then he states you are happy losing your 1.5BTC investment.

Shame on you Dean Nolan for this disgraceful behaviour resulting in investors losing their hard earned money.

Please read my questions and give answers?

According to BetKing you are part of the casino / house and then usually you participate in the value increasement of the bankroll.

The bankroll is in crypto currencies, but you bought fantasy tokens?

How was the price of these fantasy tokens determined during ICO?

Who pays the 25% fantasy token bonus and from what money? Because if you are part of the casino / house, then the invested amount of crypto currencies is the bankroll of the casino.

If an investor withdraws his investment, then this amount reduces the casino bankroll.

Are you able to withdraw your investment at any time?

Dean Nolan is using an excuse to say that he locked the Betking thread because he was tired of asnwering the same questions again and again. He locked his Betking thread because he cannot justify how he ended up with millions from the ICO when the investors lost almost everything.

Unlike you I CAN say for certain that Dean Nolan is wrong on multiple fronts. He made millions of US$ from the ICO and continues to make "profits" from the millions of tokens that were never released in the ICO. His payout token payout structure is flawed and does not favour investors. The 10% buy-back token system is completely pathetic because it forces investors to keep 90% of their tokens if they want to sell them because they realised the website is a shambles and "profits" are almost non-existent or are under-performing extremely badly. They can list them on exchanges such as HitBTC but a post in this thread earlier showed there was basically no demand for Betking tokens so how can they be sold?

His claims of ICO investors buying in to the "profits" of the betking.io website versus his other statements about ICO investors buying in to the online casino itself have irritated many and therefore those that lost out in the ICO call Dean Nolan and Betking.io website a scam.

In this message from the thread that Dean Nolan has now locked the user iluvbitcoins stated: "We bought a share of the casino and the casino profited 12 million$ so far."
(https://bitcointalksearch.org/topic/m.25717485)

At the close of the ICO in September 2017 the total value of the ICO raised funds was around $6.5 million. In less than 3 months of the ICO the value rocketed to $12 million and within 4 months of the ICO the value rocked to around a MASSIVE $18 million. Dean Nolan has never added any of the Betking casino profits in crypto increase to return via token price increase to the ICO investors which is what the user in the above link was referring to.

Dean Nolan has never stated where he spent any of the 30 million tokens he never released during the ICO. Dean Nolan has never stated exactly how much went on the bankroll in the website launch. Dean Nolan has never released a whitepaper or accountable balance sheet to investors and ICO investors that show accountability for post-ICO actions can be compared to his pre-ICO claims.

These are some of the reasons why many people that invested in the ICO are calling Dean Nolan, Betking and the betking.io website a scam. Nothing Dean Nolan has done in the recent days has helped him disprove what people are saying about him.

Sure investors should never have invested in the Betking token structure with tiny payouts and just 10% buy-back but the ICO thread was flooded with bounty participants who were posting pro-Betking and pro-Dean Nolan propoganda so it was easy to get duped so I cannot blame investors.

Even now Dean Nolan is offering ownership of a share of the Betking casino and on the other hand he offers a share of the "profits" and he is doing it on the same page on his Betking website and it has frustrated many investors because Dean Nolan seems to be the only one who got rich by making millions directly from the ICO but the ICO investors and later investors got next to nothing so that is another reason why people are calling Dean Nolan and his betking.io website a scam:
https://betking.io/invest

Can I ask why you want my username? I'm not lying about my investment of 1.5 BTC in the ICO. If I send you my username you might ban me or something if you don't like people expressing their opinions of Betking.

So why did Dean Nolan not pay from the ICO funds to have it listed in as many exchanges as possible? It was not as if he would have paid for it out of his own pocket because investors were duped in to parting with their crypto in the ICO.

Does his action display that Dean Nolan cares about either Betking or the ICO investors?

30 million tokens were to be kept by Dean Nolan and 70 million were supposed to be distributed to ICO investors. He raised $6.5 million+ in the ICO in September 2017 which went upwards towards $18million just a few months later so what stopped Dean Nolan from using some of those funds to get his pathetic Betking tokens on to some of the bigger exchanges?

pm me your betking username if you have tokens on there or your eth address with tokens.
But if you are a token holder you seem to have a misunderstanding of how the ico works.
The tokens were $0.0928 at time ico and are now $0.0993, a 7% roi.

This model of token price calculation was very clearly explained before the ICO started and over and over again in threads and the various discussion platforms.
This was never an ICO to list and flip on exchanges, again I stated that, it's a long term project.

I personally put 1.5 BTC into the Betking ICO and got a bonus for being an early investor too. I'm disappointed when I see the BKB buyout price you're giving us for 10% of our tokens. For me it's 0.08110188 BTC. So you're saying that my total BKB investment is only worth 0.8110188 BTC? That's almost HALF of what I invested in the ICO yet you claim your investors are "happy with the roi so far" when in reality that couldn't be further from the truth. Please explain yourself. If the business is going well then why is the investment only valued at 54% of the initial investment? It would be slightly understandable if you actually converted the Bitcoin investments from the ICO into fiat right away, but you didn't. I'm interested in hearing what on earth is going on.

So small profit >
One of the most profitable sites in crypto gambling space >

Pick one 

Also, this whole thread is started by an idiot who made a parody of Betking about an year ago cause he was jealous.

I cannot say for certain who is wrong or right, but locking your thread and flipping the bird at readers and posters here is not on.

Yeah, have to agree on this point. An extra exchange is good for liquidity, and can't hurt the business as far as token economics is concerned. More exchanges means more traders, means more liquidity, and fairer prices. I think even some casinos are also building exchanges or having an internal system for exchange at some small commission. It's just diversification to me.

Well Dean Nolan does post here from time to time but there is nothing meaningful from him.

How on earth can he retain 30 million Betking tokens by not putting them on the ICO sale and still claim profits on them instead of allowing investors to maximise what little profit there might be? The profits that are so small that make the Betking token almost useless and worthless. It looks like a very sad and bad thing Dean Nolan has done making him and his Betking website look a shambles.

Why? This so-called exchange project would probably be as bad as the other disaster he championed called "Betking"

Dean Nolan will probably pay an Indian, Chinese or Vietnamese coder to design the site by paying a few hundred US$ and then take screenshots to publicise it as "working on it, not completed yet but here are some demo screenshots" just as he did with Betking when the site was complete with plugin betting software (but he claimed it was under construction to reel investors in).

After that he will have another ICO for the "exchange" where another set of investors will sadly lose out on their investment and Dean Nolan will make several millions more.

Pathetic  

Hilarious and sad at the same time. I feel for the investors.

Unless, of course, Dean gives them equity in this new exchange. That would only be fair.

The reputation of Dean Nolan is already in tatters alongside his failed Betking website.

To which charities has he allegedly donated money to?

Did Dean Nolan ever say where the funds he was donating came from?

How was he "known" for his charity work donations? Please list the names of the charities, is there any way of checking if he actually made donations or was it something he dropped in when seeking publicity?

After coming in to millions of US$ as a result of the ICO it seems surprising Dean Nolan would lock the Betking thread (because he was worried about the questions he was being asked about Betking investors losing money and about him gaining millions of US$) yet he would make donations to charity AND let people know he did it.... strange.

To who did the investors lose everything?

According to BetKing investors are part of the casino / house and the bankroll is worth around $10 million.

So how is the investment lost? Or do you mean the casino / house investment is transferred to the person Dean?

I cannot put the blame on the investors because they were fooled in to funding this pathetic shambles of a betting website called Betking

Dean Nolan made millions from the ICO while investors lost everything. The Betking tokens are as good as a chocolate teapot (as BitcoinCasinoFinder.com mentioned earlier)

Shame on you Dean Nolan

Previously you claimed that BetKing needed only few thousand dollars to code the casino website and now suddenly he needs $ millions to code an exchange?

Does not make much sense!

Did he pay for the 30 million BetKing tokens he holds?

Where are the terms and conditions of the creation and contribution of the BetKing tokens?

With him having kept 30 million Betking tokens on which the holder can claim a share of the 'profits' as well as the millions that he has in crypto from the ICO he can afford to pay to have an exchange coded for him.

I think one problem is that you are an incompetent moderator of this thread!

Key points are

- Ever wanted to own your own casino?

- With BetKing Bankroll Token you can be the house and get a share of the profit BetKing earns!

- P is the total site profit from all games and currencies at the current exchange rate in $.


With sending crypto currencies to BetKing you are a partial owner of the casino and part of the house. If you are a partial owner and part of the house, then you always participate in value increasements or decreasements of the bankroll.

Something totally different is if you give BetKing a loan with a yearly interest rate. Whatever BetKing does (winning or losing or go broke) he still owes you your loan plus interest.

Investor <-> Creditor

The wording clearly indicates that you are an investor and not a creditor!

The profit (or loss) from currencies at the current exchange rate when the win calculation is made has to be added to the token value calculation!

BetKing states a calculation example where only the total site profit from all games is added to the value of the token, but based on his own statements this calculation is not correct!

Therefore the calculation must be something like:

$0.09286 + (85 x $8,000 casino win + 1000 x (difference BTC price during ICO and current price) currency win / 100,000,000)
______

Even though there are still some things unclear, the currently available info indicates that BetKing acts unlawful!

What is the interval when the win / loss calculation is made? Daily? Weekly? Monthly or yearly?

Where is the win / loss calculation?

What are the conditions to give the participation of an investor back?

Well since he still has millions in crypto from the ICO he should pay to add it to a few more exchanges if he believes in the project.