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Topic: Gambling Site Life Span (Read 2230 times)

legendary
Activity: 1043
Merit: 1032
★Bitcoin Gambling Reviews★
legendary
Activity: 1267
Merit: 1000
October 21, 2014, 03:00:10 PM
#29
Security vulnerability would be my first concern.
If your site got hacked, it is possible to recover, but it might put you out of business.

And regulatory issues might cut you off overnight.
If you can maintain your own site without having to hire programmers, etc., you could probably do it without much up front costs.

Getting the traffic might take a while, so marketing expenses might be heavy in the beginning.
There might be many months, if not years, of negative cash flows that you should be prepared for.

Payouts and jackpots can be controlled for the most part.
Like any business, there are risks - and payoffs.

Good Luck in whatever you decide to do.
legendary
Activity: 1498
Merit: 1000
October 21, 2014, 10:47:46 AM
#28
As long as they keep improving and are transparent (dont scam) no end date in sight.
legendary
Activity: 1120
Merit: 1000
October 21, 2014, 09:35:20 AM
#27
I am planning to make a bitcoin betting site.

But one question (for old timers and knowledgeable people)

How long does a bitcoin site operate until it close down?

Give example of the site and its life span. Smiley

Thanks!

SWC was created in Aug 2011 and is still operating in business as the most popular bitcoin poker site. https://bitcointalksearch.org/topic/sealswithclubseu-largest-bitcoin-poker-site-no-banking-fast-cashouts-40077
SD was created in April 2012 and is still operating in business now. https://bitcointalksearch.org/topic/satoshidicecom-the-worlds-most-popular-bitcoin-game-77870

So these two are the longest running bitcoin betting sites to date?

Not really sure about that. After all, I joined bitcointalk in 2012 and have little knowledge of the early bitcoin world. Smiley
member
Activity: 109
Merit: 10
October 21, 2014, 06:59:05 AM
#26
Just a question, what do you think Primedice is worth right now? If they want to sell?
newbie
Activity: 20
Merit: 0
October 21, 2014, 06:24:46 AM
#25
I am planning to make a bitcoin betting site.

But one question (for old timers and knowledgeable people)

How long does a bitcoin site operate until it close down?

Give example of the site and its life span. Smiley

Thanks!

SWC was created in Aug 2011 and is still operating in business as the most popular bitcoin poker site. https://bitcointalksearch.org/topic/sealswithclubseu-largest-bitcoin-poker-site-no-banking-fast-cashouts-40077
SD was created in April 2012 and is still operating in business now. https://bitcointalksearch.org/topic/satoshidicecom-the-worlds-most-popular-bitcoin-game-77870

So these two are the longest running bitcoin betting sites to date?
legendary
Activity: 1120
Merit: 1000
October 19, 2014, 04:17:51 AM
#24
I am planning to make a bitcoin betting site.

But one question (for old timers and knowledgeable people)

How long does a bitcoin site operate until it close down?

Give example of the site and its life span. Smiley

Thanks!

SWC was created in Aug 2011 and is still operating in business as the most popular bitcoin poker site. https://bitcointalksearch.org/topic/sealswithclubseu-largest-bitcoin-poker-site-no-banking-fast-cashouts-40077
SD was created in April 2012 and is still operating in business now. https://bitcointalksearch.org/topic/satoshidicecom-the-worlds-most-popular-bitcoin-game-77870
sr. member
Activity: 264
Merit: 250
October 18, 2014, 11:31:34 PM
#23
If you run it well & have marketingpower & some incentives & affiliate program, you can run it forever... until hacked or someone manages to win your jackpot Wink
full member
Activity: 215
Merit: 105
Poorer than I ought to be
October 18, 2014, 11:28:08 PM
#22
Dragon's Tale casino has been operating since early 2011 at least - that's certainly not the 'normal' betting model - but some sites have longevity.  Seals With Clubs (poker site) has also been in operation since sometime in 2011 I believe
legendary
Activity: 1274
Merit: 1001
October 18, 2014, 10:47:44 PM
#21
When did Primedice started?

I think PD stand over a year already
   
Primedice | The Most Popular Bitcoin Game! |1% Edge | PVP | Active Chat | Faucet
May 18, 2013, 06:18:05 AM


and Luckyb.it almost reach their 1 year operation since October 31, 2013, 03:21:29 PM
    
Tired of dice? Try LuckyBit!

Let the coins rain! Get free coins on chat!Official thread

hero member
Activity: 1328
Merit: 563
MintDice.com | TG: t.me/MintDice
October 18, 2014, 10:30:58 PM
#20
gambling sites usually last bout 350
member
Activity: 109
Merit: 10
October 18, 2014, 08:37:06 PM
#19
When did Primedice started?
legendary
Activity: 2436
Merit: 1561
October 18, 2014, 12:50:55 PM
#18

How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?

Probably you'd want to start with a signature campaign on this forum.
The standard rate is about 0.1 BTC /month (for senior member), but to attract enough participants you'd need 0.12 BTC.
To be effective, you'd need to recruit around 50 people.

Thats:

50 * 0.12 = 6 BTC, which at current rate ($390) gives $2,340 for the first month, just for the sig campaign.

On top of that, you'd probably need some advertising outside this forum and some sort of promotions/bonuses/on-site giveaways to give people an incentive to switch to your site.
legendary
Activity: 966
Merit: 1001
October 18, 2014, 12:42:23 PM
#17
I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).



How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?

I have no idea on that, but you can get some idea from how much other gambling sites are spending on signature campaign.
Example 1 LB: 20x 0.1 btc slots + 20x 0.05 btc slots = 3 btc a month
Example 2 BitDice: The owner said his budget for the first month is ~2.5BTC
Example 3 Pocket Dice: 50 slots, 0.001+ BTC per post (depending on member rank), max 25 posts per week
legendary
Activity: 1512
Merit: 1012
October 18, 2014, 12:22:32 PM
#16
Run it nicely and honestly, and it will last a lifetime.
newbie
Activity: 23
Merit: 0
October 16, 2014, 08:29:10 PM
#15
I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).



How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?
legendary
Activity: 2436
Merit: 1561
October 15, 2014, 11:02:12 AM
#14
I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).

newbie
Activity: 28
Merit: 0
October 15, 2014, 09:14:46 AM
#13
slot machine gambling
newbie
Activity: 21
Merit: 0
October 15, 2014, 08:56:47 AM
#12
What about Satoshi Dice? What happen to them? Dooglus owned that one right?

Did you mean JD?
legendary
Activity: 1043
Merit: 1032
★Bitcoin Gambling Reviews★
October 15, 2014, 08:56:13 AM
#11
What about Satoshi Dice? What happen to them? Dooglus owned that one right?

Voorhees owned that one, sold for a bunch of money to a rich gambling mogul. New owner redesigned the whole thing and introduced retarded shenanigans such as "spirit mood", new design also brought major outages and hickups, site went downhill from there.

If you mean just-dice, invested amounts were getting kind of ridiculous to carry responsibility for as a lone developer, definitely when regulation is heating up in Canada, so he closed it down gracefully.

Hi Addi, I don't know if you can answer this but what does SatoshiBet do with regards to being incorporated or having a Bitcoin gambling license?

Are you worried about regulation getting in the Bitcoin gambling scene?

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