Receive all Cointelegraph news immediately in Telegram.
The BetKing ICO pre-sale came to an end on the 30th of July and raised over $1.2 million!
Participants were rewarded a 25% discount on BetKing Bankroll tokens purchased during the sale.
The pre-sale raised a total of 372 Bitcoin and 716 Ethereum.
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!
By December 2016 the crowdfunded bankroll had grown to 6000 Bitcoin, making BetKing the most trusted dice site with the highest betting limits.
Previous investors made a total of 7400 Bitcoin profit in a little over 2 years.
This time BetKing is launching an ICO to fund the bankroll and also development and marketing of brand new software.
The new version will launch with updated provably fair dice, roulette and blackjack games and allow players to bet with Bitcoin, Ethereum and many other currencies.
On the roadmap for the end of the year and early next are more casino games, sports betting and new poker software.
The main sale starts on August the 7th at 0:00 UTC and will run until September 4th, the same day BetKing relaunches.
There is no cap on the amount of funds that can be raised and 70,000,000 of 100,000,000 tokens will be sold.
Every quarter BetKing will buy back up to 10% of all tokens from holders, if they wish to sell.
The buyback price that BetKing offers is calculated as follows and is independent of 3rd party exchange rates:
(Initial token price + current bankroll profit)
For example, if the ICO raised $2 million in the sale for 70% of tokens, then that would give the initial token price the value of $0.0284.
If the bankroll profit after 6 months was $2 million, then each token would now be worth $0.0484, ($2 million / 70 million) + ($2 million / 100 million).
The current profit is always the total Bitcoin, Ethereum and other crypto-currency profit since launch converted to dollars at time of buy back.
There will also be discounts for buyers during the main sale.
Learn more about the BetKing ICO here.
Company name: BetKing
Company site: http://betking.io
Company contacts: Dean Nolan
Follow us on Facebook
This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: