The main sale ahead of BetKing’s September 4 re-launch kicked off Monday (August 7) with the ICO going through the month of August and first four days of September.
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BetKing opened in April 2013 and by the end of 2014 quickly became the most popular crowd funded 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 crowd fundedbankroll 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.
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.
Week 1: 15%
Week 2: 10%
Week 3: 5%
- Aaron Goldstein, Gambling911.com