Add to that what people are calling "scam" because he advertised a 50 BTC Jackpot Dice Game only for that not to happen in the way that he advertised it.
I think I have already explained you how 50 BTC Jackpot works. If I, not investor or related to betking, have found this information in only few minutes of reading, I am not sure how you fail to do your own research in last, i don't know, 2 weeks or so.
There was no 50 BTC Dice jackpot, the wording used was different from what was on offer. Another word was used at a later date "progressive" to the 50 BTC Jackpot.
Where was that stated? Link me to their whitepaper, I am lazy to search again.
Anyway at odds of around 10 billion to one nobody was ever going to win. It shows around 10 BTC for "max win". So it seems the fact that nobody won the 50 BTC because it was never really there in the first place to win means that people are rightly calling it "shady" and a "scam".
Max win =/= Jackpot.
Someone has already explained it.
As for your question regarding tokens, I've found this at site:
During our ICO we created 100,000,000 BKB tokens to raise funds for the BetKing bankroll. Find out more here.
The token value is calculated as:
I + (P /100,000,000)
Where I is the initial token price after the IC0, $0.09286 and P is the total site profit from all games and currencies at the current exchange rate in $.
For example, if the site profit was 100 Bitcoin and the current price of Bitcoin was $8000 then the BKB price would be:
$0.09286 + ((100*8000) / 100,000,000) = $0.10086
And ICO:
BTC - 1,046.60623396 ($4,811,039.536)
ETH - 4619.11055426 ($1,622,277.817)ETH - 4619.11055426 ($1,622,277.817)
LTC - 856.08369263 ($67,211.1307083813)LTC - 856.08369263 ($67,211.1307083813)
Total $ = 6,500,528.48
BKB Initial price = 0.09286BKB Initial price = 0.09286
100,000,000 BetKing Bankroll Tokens will be created as Ethereum ERC23 tokens and issued after the crowdsale ends.
70 million will be available for sale to crowdsale participants.
30 million will be retained by BetKing for ICO bounties, testing bounties, advisors, hiring, future marketing and development.
BetKing Bankroll Tokens can be purchased with Bitcoin, Ethereum and Litecoin. All funds will be held in cold storage.
All funds will be held in cold storage.
And then this:
After the crowdsale at least 50% of the funds raised will be used for the house bankroll that players bet against and winnings are paid from.The remaining funds will be used for marketing, promos, seo, design, development, server costs and legal.
So investors didn't invest only in bankroll, they invested in promotion of the site too. I am not sure why formula is...
Initial token price + ((profit*BTC price) / 100,000,000) = token price
...are there 100,000,000 tokens in bankroll? Why was ICO price calculated with 100,000,000 tokens and not 70,000,000?
Hm...
30% tokens are used for promotion(
2,785,800$)
At least 50% of funds raised during ICO are used for bankroll (50% of 6,500,528.48$ = 3,250,256$)
With this calculation, 6,036,064$ are used for marketing purposes, development etc and 3,250,256$ should be in bankroll.
BUT this is only in case 50% funds collected during crowdsale are in bankroll. Where can we find info about bankroll?
From site:
With BetKing Bankroll Token you can be the house and get a share of the profit BetKing earns!
How much funds goes to bankroll now?
How much tokens were bought back from investors?
How much tokens are available at the moment?
What is size of bankroll?
What was the size of bankroll after ICO?
How many funds were used for promotion, development etc?
How many funds are left for promotion, development etc?
This IS investors money and these questions should be answered directly to investors.
So, instead of writing speculative esay's ask questions directly.