Topic: Proposal for BKCoin - BetKing.io profit sharing coin - page 2. (Read 2780 times)

About BetKing.io

https://betking.io is one of the oldest Bitcoin gambling sites, launched in April 2013 under the old name of Pocket Rockets Casino.
Since then BetKing has become one of the most popular Bitcoin casinos and dice sites with over 298,000 Bitcoin wagered.

The official thread can be found here https://bitcointalksearch.org/topic/betkingio-20-rakeback-christmas-bonus-most-trusted-bitcoin-dice-site-910134

For the past 3 years I have worked alone to make BetKing.io a success.
2015 was a great year that saw BetKing became the most popular crowdfunded Bitcoin casino with 150,000 Bitcoin wagered, making a
profit of 2900 Bitcoin for the bankroll investors.

I am looking to make BetKing and Bitcoin gambling grow even bigger and inviting you to be part of it and share the success.

Introducing BKCoin

BKCoin will be an alt coin similar to Bitcoin.
The main difference is that BKCoins value is determined by the profit of BetKing.io.

Holders of BKCoin will receive a dividend each month from the profit of BetKing.io.
This will be paid in Bitcoin.

There will be 10 million BKCoins in supply, 100% of which are pre-mined by BetKing.io.

3,000,000 BKCoins will be available for sale on launch of the coin, equivalent to 30% of BetKing.io profit share.

Profit share is what BetKing.io makes after all expenses and is not the profit that the current bankroll providers make from player losses.

1 BKCoin will equal 0.0003 Bitcoin

100,000 BKCoin = 1% dividend of BetKing.io profit.


Why is BKCoin being created?

BKCoin is being created as a way to raise funds to continue to improve and grow BetKing.io.
All Bitcoin earned via the sale of BKCoin will go directly towards marketing and development of BetKing.io.

Plans for expansion include sports betting, betting exchange, poker, new casino games and an API to allow 3rd party developers
to create their own unique sites where their players can use the BetKing.io bankroll to bet against.
To help with the above BetKing.io will use the funds from sale of BKCoin to hire full time developers and
professional marketing staff as well as provide a monthly marketing budget for the next 2-3 years.


What is the dividend made up of?

The dividend will be a share of the total profit each month after all expenses.
BetKing.io profit currently is made up of:
25% of the edge on all wager amounts in dice and roulette.
1000 Bitcoin wagered on dice = 2.5 Bitcoin profit for BetKing.io.
1000 wagered on roulette = 6.75 Bitcoin profit.
BetKing.io also earns 25% commission on the weekly profit of the house bankroll profit.
The bankroll for Blackjack and slot games is provided by BetKing.io and so 100% of the profit from those games goes to BetKing.io.

In the future profit will also come from sports profit, betting exchange commission, poker rake and commission from 3rd party sites.
There may also be support for alt coin gambling adding another source of revenue.

Currently BetKing.io has server and related expenses of around £800 per month.

How did you determine the price of BKCoin?

In 2015 BetKing.io had over 150,000 Bitcoin wagered on dice alone and the bankroll providers made a profit of 2900 Bitcoin.
With the current commission setup that equates to a profit for BetKing.io of around 1100 Bitcoin.

BetKing.io is now 3 years old. Looking at long term plans I have valued the company at a little under 3x last years numbers, or 3000 Bitcoin

This is a modest evaluation and would be much higher if I or a buyer were to provide the
total bankroll for players to bet against since they would have made 2900 Bitcoin in one year.

With the future expansion that raised funds would allow, the value of BetKing.io would also increase significantly.

Note that this should be seen as a long term investment.

How can I buy BKCoin?

If I get enough interest I will work on developing the coin and wallets right away.
At launch I will put 3,000,000 BKCoin up for sale on the BetKing.io website.

I will be looking to get BKCoin listed on exchange websites so trading of BKCoin can be done easily.

There may be a minimum amount that one person can purchase but that is to be decided.

What about the remaining 7,000,000 coins?

These will be unlikely to ever be sold.
If after a year or so BetKing.io is looking to add a new feature or pivot into new markets then some of these may be sold if funds are required for the
development and marketing of these new products. There would be a large amount of discussion and warning before any were sold.


Feeback wanted

If you have any questions, concerns or suggestions then post a comment and I will reply.
I am looking for positive interest before starting this.
A new admin panel would be made for BKCoin holders to login and see profit/expense reports as well as roadmap of dev and marketing plans

If you would like to reserve BKCoin then email [email protected]