BetKing, a popular Bitcoin gambling platform known for making profits worth over 7400 BTC during its previous stint has announced the ICO of its BetKing Bankroll tokens. The four-week long crowdsale is set to go live on August 7, 2017, and end on September 4, 2017. During the period, investors and cryptocurrency enthusiasts can purchase BetKing Bankroll token against Bitcoin, Ethereum, Litecoin and Dash payments.
The platform has set the maximum cap for Bankroll tokens at 100 million, out of which 70 million is being made available to the ICO participants. The rest will be retained by BetKing and used for paying ICO bounties, testing bounties, advisors, hiring, future marketing and development activities.
The funds raised from the crowdsale will be used to build and operate the revamped BetKing casino platform. Out of the total funds raised, the platform will allocate 50% for bankrolling the bets placed against the house by players, and the remaining half will go towards development, marketing, promotions, infrastructure and legal costs. The platform has already raised over $1.2 million through the recently concluded Pre-ICO, during which early investors availed a 25% discount on the tokens.
The platform has announced a new discount structure for the ICO, where it will be offering a 15% discount on week one, followed by a 10% discount on week two and 5% on the third week. Those purchasing the tokens during the ICO will become eligible to receive a share in the profits generated by the platform. BetKing will be setting aside a portion of the profits from bankrolled games to buy back the tokens.
Unlike its previous version, the new BetKing platform will be more robust, flexible and user-friendly. The platform will be offering a range of provably fair casino games with support for multiple cryptocurrencies. Apart from being a regular online casino, BetKing will also support third party integrations, where developers can implement its games and services into their own websites and applications. The company has set a timeline of one year to achieve all these. Those interested in becoming part of the initiative can do so by visiting BetKing website.