Dice Game Bankroll Question - page 2.

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Quote from: Turan100 on September 30, 2017, 03:48:00 PM

Quote from: Josepht on September 29, 2017, 07:54:44 PM

First off: you can start tiny with a bankroll size of about 10 BTC, where you allow a max win of .25% of the bankroll: 0.025BTC.

If you want to compete with the larger guys, and have a max win of around 10BTC (or maybe ever larger), and assuming you don't want to risk too much of your bankroll, you will need at least a 4000 BTC bankroll.

Also, don't forget that the amount is probably even higher, because there are all kind of expences that you have to pay.

i think 10btc not enough for bankroll , if you start with this amount your website coudl be dead since the first days , because there's too many wabsite and you have to be with Tops and the best way to be is having great bankroll and max win around must be high

It's not enough and if I want to make a dice site I'll consider the saturated market for dice sites and casino's. But if you insist and you have the guts to pursue this project of yours I'm not going to stop you. Why not try to think of something new that's not yet being offered by most of the casino's and I guess it's better for you to stay with that idea. Anyway still good luck to your project.

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Quote from: Josepht on September 29, 2017, 07:54:44 PM

First off: you can start tiny with a bankroll size of about 10 BTC, where you allow a max win of .25% of the bankroll: 0.025BTC.

If you want to compete with the larger guys, and have a max win of around 10BTC (or maybe ever larger), and assuming you don't want to risk too much of your bankroll, you will need at least a 4000 BTC bankroll.

Also, don't forget that the amount is probably even higher, because there are all kind of expences that you have to pay.

i think 10btc not enough for bankroll , if you start with this amount your website coudl be dead since the first days , because there's too many wabsite and you have to be with Tops and the best way to be is having great bankroll and max win around must be high

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Quote from: Cobran on September 29, 2017, 07:10:06 PM

Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

I think there are plenty of dice sites already and if you want to compete with them you need to offer something that they don't have, lower house edge and bigger maximum win, so it means you will need large bankroll. No one will come to play dice if your bankroll is for example 1 bitcoin(because max bet/win will be very low)

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Quote from: Cobran on September 29, 2017, 08:31:10 PM

Hello Community! thank you all for your kind answers and advice. As I have mentioned in a previous post, I own a domain name which gets a decent daily amount of Type-in Traffic from crypto gamblers. This is mainly because it is very similar to another Crypto-Dice domain name and from my understanding, people mistype it and end up on my website all the time!!. I am quite aware of the management and marketing requirements, hopefully I can fulfill that part, being an M.A. in International Economics Wink

Nice background since you have a decent educational background you know how to market things out. And you are aware of those big dice sites that has been operating for years now. In that case that you are getting good daily traffic because of the mistype letters / spelling for a specific website, there's nothing they can do now if those gamblers will shift to your new dice site. This amount should be a good start up

Quote from: Josepht on September 29, 2017, 07:54:44 PM

First off: you can start tiny with a bankroll size of about 10 BTC,

As you keep on operating, you have to get some more investors for bigger bankroll and max winnings.

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Quote from: Cobran on September 30, 2017, 02:28:06 PM

Dear All! I would like to thank you again for your kind answers. The engagement of the community is astonishing. I will certainly check MoneyPot and Betking. MoneyPot seems promising at the moment.

Better to build your own script so you will have your own dice platform characteristics.
But of course it cost a lot of money , if you just looking for a mainstream dice site then it is okay to buy it rather than build a new one.
I just think the competition is so thight in bitcoin dice , a lot of trustworthy site managed by trustworthy member existed already here , you might struggle to compete with them. Goodluck by the way.

Cobran

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Dear All! I would like to thank you again for your kind answers. The engagement of the community is astonishing. I will certainly check MoneyPot and Betking. MoneyPot seems promising at the moment.

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Quote from: lite on September 30, 2017, 12:11:48 PM

Quote from: Cobran on September 29, 2017, 07:10:06 PM

Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

Aren't there so many dice sites already? chances of success will be less, you'll have to compete with well known sites, of course if you have money you can compete with them, but you probably don't have 1000s of BTC. Roll Eyes

anyways if you still want to run a dice site, don't buy a pre-made script! hire someone trusted to code the site for you, have a bankroll of 50+ BTC! or you could use platforms like moneypot,betking(not sure when it'll be available, keep an eye) and forget about bankroll, just build your site and promote.

They would probably build a dice site if you do try to look in the market most of sites are dice which they do assume that it would really be profitable too for them when they would decide to create one.I would say you would need hundreds of BTC on starting up and putting a percentage limit on max win so that it wont easily be bust up when there are players who are lucky enough.

lite

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Quote from: Cobran on September 29, 2017, 07:10:06 PM

Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

Aren't there so many dice sites already? chances of success will be less, you'll have to compete with well known sites, of course if you have money you can compete with them, but you probably don't have 1000s of BTC. Roll Eyes

anyways if you still want to run a dice site, don't buy a pre-made script! hire someone trusted to code the site for you, have a bankroll of 50+ BTC! or you could use platforms like moneypot,betking(not sure when it'll be available, keep an eye) and forget about bankroll, just build your site and promote.

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Quote from: Cobran on September 29, 2017, 07:10:06 PM

Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

This really depends on how many betting volume are you expecting to get, if your bankroll will be too small to handle all the bets, you will be significantly risking to lose some or all of it. You should read about Gambler's Ruin theorem to get some understanding on how it works. But generally, most good sites start with some big amount like 50 BTC (historically it was 100-300 BTC and higher) to be safe and their bankroll grows from open investments. Also, your bankroll is what will be limiting your maximum allowed win per one bet which should be 0.5-2% of your total bankroll to be safe from lucky high rollers.

Cobran

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Hello Community! thank you all for your kind answers and advice. As I have mentioned in a previous post, I own a domain name which gets a decent daily amount of Type-in Traffic from crypto gamblers. This is mainly because it is very similar to another Crypto-Dice domain name and from my understanding, people mistype it and end up on my website all the time!!. I am quite aware of the management and marketing requirements, hopefully I can fulfill that part, being an M.A. in International Economics Wink

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Quote from: Josepht on September 29, 2017, 07:54:44 PM

First off: you can start tiny with a bankroll size of about 10 BTC, where you allow a max win of .25% of the bankroll: 0.025BTC.

If you want to compete with the larger guys, and have a max win of around 10BTC (or maybe ever larger), and assuming you don't want to risk too much of your bankroll, you will need at least a 4000 BTC bankroll.

Also, don't forget that the amount is probably even higher, because there are all kind of expences that you have to pay.

This feature to set a max winning percentage of the total bankroll is very important to prevent losses you can't afford to pay people who are gambling on your site, principally at the beginning, when the bankroll is usually lower.

Try to have biggest bankroll as possible to attract gamblers that like to bet high and consequently spend more money on your site, these guys give some nice profit for the house when playing. The little fishes play low and don't generate much profit. I agree that 0.25% of total bankroll maximum bet is adviced.

Anyway, to have a big bankroll isn't a guarantee to have success. There are another skills very necessary like marketing and management.

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Quote from: Cobran on September 29, 2017, 07:10:06 PM

Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

30 btc or higher. If you can't afford to risk such amount you can use moneypot to back your site's bankroll. Think twice before buying a dice game script because with many dice sites right now it'll be a tough task to gain profit and players.

Quote from: Josepht on September 29, 2017, 07:54:44 PM

If you want to compete with the larger guys, and have a max win of around 10BTC (or maybe ever larger), and assuming you don't want to risk too much of your bankroll, you will need at least a 4000 BTC bankroll.

Those guys that have a large bankroll have opened their investment to the public so everyone can put how much they wanted to.

Josepht

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First off: you can start tiny with a bankroll size of about 10 BTC, where you allow a max win of .25% of the bankroll: 0.025BTC.

If you want to compete with the larger guys, and have a max win of around 10BTC (or maybe ever larger), and assuming you don't want to risk too much of your bankroll, you will need at least a 4000 BTC bankroll.

Also, don't forget that the amount is probably even higher, because there are all kind of expences that you have to pay.

Cobran

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Activity: 59

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Hello community, I am thinking to buy a dice game script and it up. I was wondering, what is a reasonable bankroll I need to have to pay out the initial winnings. Thank you!

Topic: Dice Game Bankroll Question - page 2. (Read 552 times)