Topic: Do you think coming up with new gambling site is risky? - page 4. (Read 2691 times)
You need to establish a base of clients so that there is a constant 'cash' flow.
life is a risk and you know gambling has a very big risk. if you really want to do so you must be prepared everything that will happen.
I think that the BTC gambling ecosystem is basically saturated at this point. Unless you have some new type of game that comes in that is fair and run by honest developers it's very difficult to get one of these started. Not to mention bankrolling a site and security on site are likely very inportant for the well being and longevity of any gambling site.
You are likely better off not bothering.. Unless you have a brilliant idea and a very well built and honest development team.
You are likely better off not bothering.. Unless you have a brilliant idea and a very well built and honest development team.
Totally agree. You have to have some niche product in order to
attract people to leave their current site and play at yours. Having
a new cool different game is key.
There are lots of gambling sites, each of them with lots of games for people to compete with. I don’t think coming up with a particular game will attract any attention, all you need to do is to advertise your site, like some gambling do advertise their website with signature campaign. You will also need to give bonus for each funded account or free faucet. There are many kind of advertising.
Investing into any business is risky as it is already. If you can manage a gambling site and got the funds for it then you could try to set this up.
You're going to need trustworthy devs though that won't try to play and cheat. If you don't have the funds, I'm sure there are people around who are interested into funding a gambling site.
You're going to need trustworthy devs though that won't try to play and cheat. If you don't have the funds, I'm sure there are people around who are interested into funding a gambling site.
Well is risky if you don't have a lot of money and if people don't trust the site.
Just make a group of people that know bitcoin and love gambling so you can make a good casino.
Start it if it is your dream to do.
Just make a group of people that know bitcoin and love gambling so you can make a good casino.
Start it if it is your dream to do.
Do you think coming up with new gambling site is risky?
If one have funds is it enough or any other things need to consider before starting new gambling site?
If one have funds is it enough or any other things need to consider before starting new gambling site?
Starting any kind of new business is risky. A successful business can bring the owner great rewards though.
You have to think of something that a large number of people want/need.
IT will still be profitable especially if you can come up with a new gambling site. I recently wanted to create one, I just don't know how to code it lol..
A gambler will just bet against another gambler to win and the only thing the gambling site do it to escrow their funds, let say for sports betting.
the gambling site just get a small percentage.Coming up with a new gambling site won’t be a bad Idea, it will be more profitable if you properly advertise it. The good thing about it is that the gambling site will help it's users by keeping keeping some funds with escrow, this way will be making easy for gamblers to gamble without being cheated.
It will not be more risk for the gambling sites since the gambling site will escrow some funds, and if in case there is any dispute, users can easily request back their funds by showing the betting steps. More complicated for escrow people as well as dispute mediators.
IT will still be profitable especially if you can come up with a new gambling site. I recently wanted to create one, I just don't know how to code it lol..
A gambler will just bet against another gambler to win and the only thing the gambling site do it to escrow their funds, let say for sports betting.
the gambling site just get a small percentage.Coming up with a new gambling site won’t be a bad Idea, it will be more profitable if you properly advertise it. The good thing about it is that the gambling site will help it's users by keeping keeping some funds with escrow, this way will be making easy for gamblers to gamble without being cheated.
IT will still be profitable especially if you can come up with a new gambling site. I recently wanted to create one, I just don't know how to code it lol..
A gambler will just bet against another gambler to win and the only thing the gambling site do it to escrow their funds, let say for sports betting.
the gambling site just get a small percentage. 
I think that the BTC gambling ecosystem is basically saturated at this point. Unless you have some new type of game that comes in that is fair and run by honest developers it's very difficult to get one of these started. Not to mention bankrolling a site and security on site are likely very inportant for the well being and longevity of any gambling site.
You are likely better off not bothering.. Unless you have a brilliant idea and a very well built and honest development team.
You are likely better off not bothering.. Unless you have a brilliant idea and a very well built and honest development team.
Totally agree. You have to have some niche product in order to
attract people to leave their current site and play at yours. Having
a new cool different game is key.
people don't like being scamming so they prefer old and reputable site, they play in a safe and secure environment and get payout well. there are so many new sites and they are not famous or reputable enough, people won't play there until the site gets enough reputation
There is always risking in doing business. Opening a new gambling site is no different. You need to worry about losing all your bankroll if a lucky whale manage to win lots of BTC and also if anynoe manage to find any exploit in your gambling site.
I do agree that all business have risks but if gambling house manages properly than mostly they will not lose their bankroll but players will lose all there bitcoins. So before starting any business one should know how to manage the business otherwise do not enter into it.
Not necessarily have to be risky ! If you have the strategies to stand out from the existing sites and use efficient marketing models ,you still can make a good amount of profit .The market right now is quite saturated but that doesn't mean they're completely failure .One has to consider the current market and formerly generate anylsis report to consider all the factors before starting a new website in the same domain .Ex :Some good game with casino style and better graphics and UI is more likely to attract customers .
Putting out new strategies or any for that matter, I consider that already as a risk. Any business that you can start out from the ground or even invest in, is a risk that you take. There's not 100% solid chance that it will succeed.
There is always risking in doing business. Opening a new gambling site is no different. You need to worry about losing all your bankroll if a lucky whale manage to win lots of BTC and also if anynoe manage to find any exploit in your gambling site.
Risk of losing your bankroll is always present, but op is referring to risk from new type of gambling site.
I would say it's less risky if you can figure out something new and interesting to attract customers, than it is to open up yet another boring dice site.
Do you have any specific ideas you want to share with us ?
Not necessarily have to be risky ! If you have the strategies to stand out from the existing sites and use efficient marketing models ,you still can make a good amount of profit .The market right now is quite saturated but that doesn't mean they're completely failure .One has to consider the current market and formerly generate anylsis report to consider all the factors before starting a new website in the same domain .Ex :Some good game with casino style and better graphics and UI is more likely to attract customers .
There is always risking in doing business. Opening a new gambling site is no different. You need to worry about losing all your bankroll if a lucky whale manage to win lots of BTC and also if anynoe manage to find any exploit in your gambling site.
Do you think coming up with new gambling site is risky?
If one have funds is it enough or any other things need to consider before starting new gambling site?
If one have funds is it enough or any other things need to consider before starting new gambling site?
there is for sure a risk part but that depends on many factors like are you coming with totally new game ?? cause people may not like your new game
when you create a gambling site like dice , roulette and slots ,,etc you need to manage your bankroll well
if you manage your bankroll the risk part will become so small , and you are investing your money in good shape
Security is everything in the gambling niche. If you fail it, you owe people's money, bot just initial investment. Timely service comes at the expense. Legal part of the question is one of the top doubts, who knows why Satoshibet is closed.
Bitcoin gambling could take more casinos, but I doubt about the income, the niche is tiny and being "sexy" (as Prof. Michael Porter like to say) it attracts too much industrialists.
security is crucial, but not the most miportant factor in the risk of creating a gambling site. given that you will have an investment in creating the site script, hosting it, advertising, etc, you need to be able to attract people to play at your site consistently. security should be a given in anything involving money though. Bitcoin gambling could take more casinos, but I doubt about the income, the niche is tiny and being "sexy" (as Prof. Michael Porter like to say) it attracts too much industrialists.
Business always has the risks but will also be profitable if you did it right, why do there are lots of people creating bitcoin gambling sites? because its a good business.
There are those who goes down of course. You should start with having a good reputation in forum though before launching it, you don't wanna end up having red trust while promoting your gambling site which people tagged it as scam because that would be a sure an uphill battle.
There are those who goes down of course. You should start with having a good reputation in forum though before launching it, you don't wanna end up having red trust while promoting your gambling site which people tagged it as scam because that would be a sure an uphill battle.
It is quite risky. Gambling sites requires large bankroll to attract gamblers. Without it, you need investors. For investors to invest in your site, you need to make sure that you are trustable and the sites do not have exploit. Primedice got hacked for a few thousand BTC owing to an exploit. Putting those aside, you need to also deal with the regulations on online gambling and Bitcoin.
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