BetKing ICO Starts Today After Generating Huge Pre-Sale Interest

News of the relaunch of BetKing.io and the associated Initial coin offering (ICO) which starts today (7th August), sent a ripple of excitement among those familiar with the integrity and success of the brand's previous incarnation.

Prior to closing for business back in December 2016, BetKing had been the biggest crowdfunded Bitcoin gambling site in the world for the previous two years. The online dice site opened for business in 2014 with a crowdfunded bankroll, and during its three year tenure saw over 400,000 BTC wagered as well as making a tidy 7,391 BTC profit along the way - or in leyman's terms, BetKing made $287,000 profit for every month it was in operation.

Why did BetKing Close, and What has changed?

When BetKing closed there was some confusion as to exactly why? The site had always played fair, always turned a profit for itself and investors, and had a loyal customer base. There was no question of liquidity issues, and the remaining, initially crowdfunded bankroll which had grown through reinvested profits to 6,000 BTC at the time of closure were immediately returned to investors- so why stop?

According to a recent interview with Bitcoin Millionaire, the man behind BetKing, Dean Nolan said:

"I had worked on BetKing for 4 years with no other staff. I was doing development, marketing, support, promotion and security myself with only the odd contractor here and there to help. I wanted a break and time to explore some other ideas I had that I couldn’t while running BetKing full time."

It would seem that Dean's free time has not been wasted, and the new offering from BetKing has been met with a clamour for crowdfunded participation, with the ICO pre-sale which ran for a week last month generating some $1.45m in BTC and Ethereum contributions.

One change Dean made straight away was to put a team together for the first time ever to work on the new software, and he is currently in the process of hiring more full-time staff. The new BetKing will also be offering more games with new, improved software, with casino favourites Blackjack and Roulette on the roster and sports betting, more casino games, poker games and tournaments to be added soon after the launch on September 4th.

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Above: The brand new BetKing Blackjack offering

The new software will also allow other casino websites and app owners to integrate with Betking's new platform. Considering the huge success BetKing achieved last time out, the potential this time around seems immense.

The Offer

The ICO sale which starts today and runs through to the launch on September 4th offers participants the opportunity to buy up to 70% of the 100m BetKing Bankroll tokens on offer using BTC, Ethereum, and Litecoin, payments. When the crowdsale is complete half of the funds will be used for the house bankroll that players bet against and winnings are paid from, with the remaining funds being used for marketing, promos, seo, design, development, server costs and legal.

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Above: People will be able to buy BetKing Bankroll Tokens with Bitcoin, Ethereum, and Litecoin

BetKing will use a percentage of the profit made from bankrolled games to buy back BetKing Bankroll tokens from holders, and alll profit made on bankrolled games will be audited and made available to token holders.

Those who decide to invest in BetKing during the first week of the ICO (ie: from today through to next Sunday) will be eligible for a 15% discount, with a 10% discount for the following week, and a 5% discount in the third week of the sale. Any purchases during the 4th week will not receive a discount. The price of a token will be determined by the amount of funds raised divided by the 70m tokens and distributed accordingly to participants.

Poker Players Set to Profit

No doubt this offering will be of interest to the growing number of poker players who have turned to dealing in the cryptocurrency markets as a result of their experiences with the likes of BTC as a means with which to fund certain online poker sites. Many former (and current) poker players have become crypto-millionaires in the past year as the value of BTC and Ethereum in particular have skyrocketed.

When asked why, after earning millions of dollars and quitting at the top, he decided to jump back into business with BetKing, Dean replied,

"BetKing was the number one crowdfunded Bitcoin dice site. I want BetKing to be the number one gambling site."

Check out the site, the offering, and the software over at http://betking.io/

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