The BetKing ICO pre-sale ended the 30th of July and raised over $1.2 million. However, with the recent rally of Bitcoin and Ether, the total value of the contributions has skyrocketed to well over $1.5 million. Participants were awarded a 25% discount on tokens purchased during the sale.
The main token sale starts on August 7th at 0:00 UTC and will run until September 4th, the relaunch day of BetKing. A countdown timer can be found on BetKing’s homepage.
During the main sale, there will also be discounts.
– Week 1: 15%
– Week 2: 10%
– Week 3: 5%
There is no cap on funds raised and 70,000,000 of 100,000,000 tokens will be sold.
Token buy back program
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:
BetKing will take the total value of all funds at the current exchange rate at the end of the crowdsale to determine the price per token. For example: If BetKing 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. 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).
Here’s a preview of some of the provably fair games that BetKing will launch. Important note: these are not final designs.