Initial Coin Offering (ICO)
The ICO audit has been completed. Final funds raised:
Exchange rate at the end of the ICO:
- 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.
Use of funds raised
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.
- A percentage of the profit made from bankrolled games will be used to buy back BetKing Bankroll tokens from holders.All profit made on bankrolled games will be audited and made available to token holders as was done in the past with the crowdfunded bankroll profits.
- Bankrolled games are games where a player plays against the house such as dice, blackjack and other casino games as well as 3rd party partner casino games.Player vs. player games such as poker are not.
- 1st week 15%
- 2nd week 10%
- 3rd week 5%
- 4th week no discount
An extra 5% discount will be available for previous BetKing bankroll providers regardless of what week they buy.
- You can purchase tokens with a 25% discount in our pre-sale up until the 17th of July 12am UTC.
- The pre-sale has a cap of 1000 Bitcoin. Email [email protected] if you would like to participate.
- Pre-sale participants are not eligible for the 5% extra discount for being a previous BetKing bankroll provider.
The total funds raised will determine the price per BetKing Bankroll token.We will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the total raised funds.E.g. If we raised $1,000,000 then the price per token would be $0.014 (1,000,000 / 70,000,000).
The buy back price offered by BetKing will be based on the current total bankroll profit.So for example if the price of the token at the end of the crowdsale was $0.014 and the bankroll profit was $1,000,000 then the buy back price would be $0.024 (1,000,000/100,000,000 + 0.014).
Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.
Token holders may choose to sell offsite to 3rd parties or on any exchanges that may list BetKing Bankroll Tokens if they require more liquidity.
- The crowdsale will start on the 7th of August (00:00 UTC) and end on the 4th of September (00:00 UTC).
- There is no cap on the total funds that can be raised.
- There is no minimum amount needed to be raised for the crowdsale to be successful.
- BetKing Bankroll Tokens are intended to be used to invest in the bankroll on BetKing only.
- BetKing Bankroll Tokens are not a share in a company and have no voting rights.
- Small UI or non security related bugs – 10 Stakes
- Major bugs in major features – 35 Stakes
- Security critical bugs (the type where you can access accounts or steal funds) – 100 Stakes
- Note that your bug report may not be awarded stakes if it has already been reported or it is very low quality to make any difference to player experience.
BetKing opened in April 2013 and by the end of 2014 quickly became the most popular crowdfunded Bitcoin casino.
From 2015 BetKing had the most wagered volume of all crowdfunded gambling sites, 400,000 Bitcoin, almost more than all competitors combined!
With a 6000 Bitcoin crowdfunded bankroll BetKing was the most trusted dice site with the highest betting limits. All 6000 Bitcoin were returned to investors when we closed in December 2016.
We will support multiple cryptocurrencies including Ethereum and Litecoin betting.
We will also allow casino websites and app owners to integrate with our platform. We’ll take care of user accounts and betting and let casinos develop their own unique games and promos while not having to worry about bankroll funds or security issues.
Soon after launch we will add sports betting, more casino games and native mobile apps.
We also have some unique new games and social features that will be announced next month that players will be able to try on the beta site.
Our customer support will be happy to help. Please email us on [email protected] and we will be quick to reply. If you are contacting us regarding your account, please make sure to add your username or email address.