Hey everyone, have a quick question: how much bitcoin do I need to start a bitcoin casino? Gonna buy a turnkey bitcoin casino soon which will be about a grand, but about how much bitcoin do I need to reliably be able to pay off winners, at least in the beginning? I know the number varies, but ballpark.
The initial capital required must be depending on the business level, first of all buying a turnkey bitcoin casino website is the most trustworthy thing you will do in your entire life. You need to trust that person with everything you have in your life since they might have a backdoor to actually rob all of your and your customers money.
But, lets assume for now that you trust that person that sold you a turnkey bitcoin casino and all you need to worry about the first days. Well of course it depends on how much you let them gamble, since a casino that allows people to gamble with 100 bitcoins at a slot machine will lose more than a casino that allows them to gamble with 1 bitcoin at max.
A blackjack with 100 btc betting will lose more as a result than a blacjack that has 1 bitcoin at maximum. If you ask me, in order to start slow you can have 100 bitcoin saved up on the side and don't allow people to bet big so you can be sure you will not run out of money.