Topic: Have your own casino. - page 12. (Read 1749 times)

I work as costumer support on a casino before and I can say that its so good to have your own casino since it gives you a lot of profit. But the problem arise here is financial management since you cannot do this without having enough funds since you can't attract whales to gamble or even you might struggle to pay those players those huge wins they encounter.

But who knows time goes by and we became successful as a gambler then we can build our own casino just like other owners here. Nothing is impossible if we dream that and the most important thing there is our intention to provide good business and this dream might come to us.

I have never considered to have my own casino, to be honest. Though, it would be interesting to have it.
I guess I would be personally more inclined to have other kind of business which would have nothing to do with gambling, perhaps more related the providing of goods or importation of things from abroad, in order to sell them locally.
Besides, it is not a secret that opening and operating a casino can be expensive, the initial capital one needs to have at hand only grows as the competition gets bigger in this ecosystem.

Dreaming is free, though. And we as human beings, are never supposed to quit dreaming. 

Looking at the money that is being made from casinos and looking at how many casinos are coming up every now and then and the number of money gamblers wager every time, I believe many people will have the dream of having their own casino and share part of the funds that are being distributed there.
 
Wishing to have it is one thing, but the question is, does the person have the financial capacity? Because from the development down to licencing, then the start-up capital all need personal funds to get that started, and those funds are not just what I can get from my little weekly earnings or from my other job I do aside from this forum; they are never going to be enough, which is why some wishes always end up in one's imagination and are not good to voice out because the person might sound stupid to others due to their level of finance.
 
Starting up a casino needs more than $100,000, based on my estimate, and this amount is if the person wants to start with a little minimum winning amount, which won't also speak well of the casino.

We find it difficult to attract customers from other gambling sites because many gamblers will not replace a gambling platform that has given them confidence in fair play and the best service for users, even though you have a potential team but to increase your gambling reputation will take time and a strategy to quickly provide bonuses Welcome every new user to make them interested in visiting your casino and make sure they feel a better gambling sensation at your casino.

It seems that you have complex limitations to make your dream of owning a casino come true, the main thing you need is to have knowledge of casino management and to prepare a large budget to develop online gambling products and to have a competent team to run a gambling site. If you build a casino for a global target then you will not be constrained by your country's regulations because you can run a casino in another country and build relationships to get a gambling license.

The gambling business is one of the thriving businesses of this era, but then also it comes with a lot of high capital necessities and that has a lot to do with both money and time and for you to run a successful casino, you may require a long term of experience in the industry, so operating a casino is not a business that can be easily operated as it requires a lot of technical knowledge and the rest of other necessity that can be too demanding for a nob to cope with.
So is not about having alone or the expected high revenue income that is generated by this business,  we need to check what the other side is to avoid frustration along the way.

Who doesnt really like on a business on which we know that it is really that indeed profitable? Of course we do really love on having a casino business as much as possible yet it would really be giving out that kind of revenue on which it would really be that something big. There's no way that you could really be able to make yourself to resist about the benefits on having this kind of business
and come to think that this is a multi million or billion if possible kind of industry on which means that there is really that the demand. Building one is  never been cheap and on the time
that you've been asked on having that own casino then it would really be that 101% that much preferred.

About legalities or simply those licensed then it would really be just that normal that these places would really be having those kind of things on which considering on how
big the money that it is really that been involved or generating then government cant really just that let these things to pass on, also having licenses
would really be creating that impression that your platform is something that could be trusted but not 100%, there's always that risks.

I love gambling but to create a casino seems like a long shot. Because it's not a joke and it's not something that's easy like turning your palm. And I deny myself that I have enough mastery as well as understanding and ability to be able to build a casino. this is too risky because related to the threats and challenges provided are quite difficult and dangerous. And keep in mind that although gambling is considered a fairly profitable business, it is actually a business that is full of uncertainties. Gambling is a business that is not suitable for fanatics like me who often consider gambling bad. And I can't force myself to build a business that I'm not good at and don't like.

For now I prefer to build a business that is certain.  What I'm sure I've mastered, what I'm sure I've understood and of course it's certain and clear the achievements and goals. So that I can take a more active role in it.

In my case, I never had any dream or objective of creating a casino, that's because the casino business, whether it's an online casino or a physical casino, needs to make a big investment from the construction of the physical casino or online casino itself, and a lot of money is involved. . see for example in the case of a physical casino, first the person will need to buy land where the casino will be built and the price of land is very high especially when it is in a well located place, the person will spend millions of dollars on purchasing land, then you will spend money to process documents to build the casino and then you will spend a lot more money on building the casino itself and when the casino is ready, then the person will have to have a lot of bank money to run the casino and if they don't have customers in the casino and it goes bankrupt then look at the loss that person will have

In the case of an online casino the story is not very different, the person will have to spend a lot of money on coders to build a casino from scratch, then the person will have to hire employees, the coders always receive a lot of money, and finally the person You will have to have a lot of bankroll money to run the casino. and if the casino goes bankrupt, then that person has lost a lot of money. In my opinion, casino businesses are high-risk businesses, they involve a lot of money spent. That's why I wouldn't venture into it even in a dream. In the real world, casinos have a reputation for being places where corrupt government officials launder money.

Actually why there will be not difficult to attract customers  because of the number of competitors are quite good in the market? But it is also true that a strong background and potential team with a good strategy can only be successful.
I myself sometimes think that I will make a gambling website, but here various restrictions come in front of me.  The restriction at the beginning is that I have to invest money for the gambling website, which I don't have, especially after making the website, I have to make a budget for the promotion. Moreover, another big restriction is that crypto currency is currently illegal in my country, moreover, such casino's websites are also illegal in my country. That's why for now I have put down my dream about own a casino

Indeed, currently casinos are a very profitable business, because people's involvement in the world of gambling is increasing day by day. However, opening your own casino is not an easy thing apart from the licensing which is very difficult and complicated but it seems that competition between casinos is very tight and not to mention the challenges that we have to face and we cannot deny that the world of gambling is very closely related to the world of crime. So when we intend to open a casino, we are required to prepare everything carefully.

But here, I consider that I am not capable enough to open a casino because the risk is too big and I cannot bear the risk. I prefer to create a business where I really understand the business field.

It's certainly more difficult now to open a gambling site or a casino attracting decent amounts of customers than it used to be but some custodial casinos still let people investing into their bankroll through some ways. And GameFi/GambleFi decentralized casinos, sportsbooks or protocols offer users to invest in their liquidity pools with profitful ROIs like Thales or Azuro protocol for example https://azuro.org/liquidity

Who doesn't dream of having a business that earns them a lot of money? Gambling is a great business and it earns the owners a lot of revenue but it is not that easy to build a casino and start a gambling business because it requires a lot of investment nowadays. You need to get the platform developed, buy games from game providers, hire marketing experts, hire customer service representatives, hire management staff, and a lot of other things that are required to be done.

Even if one manages to do all that, it is not very easy to get your casino to become the favorite of gamblers within the community, you will need to spend a lot of money on marketing and everything, and sometimes, a platform still doesn't work the way it should after all those marketing and promotions, and at the end of the day, you will find out that the gamblers are leaving the platform one by one which is a nightmare for any business.

Paying taxes is least of my concern. Our government is corrupt as hell which getting a license is very hard to accomplish for a small business casino. Only huge scale casino that pays huge under the table fees typically can get license to operate here in my country so small casino like ours have no chance to become legal.

You can add the cops that charge more under the table payment for protection which is really a pain in the ass. We witness other small operators in our neighborhood that suffer a lot on legal charges after they didn’t pay those shit fees. This is really an impossible business in my country unless I will ho huge scale.

I don't have such a dream at all and for someone who loves gambling doesn't necessarily mean they have to be on the other side and see how things work cause its not a business that everyone can start, to start a decent casino with all the license and everything the user need a capital of 100K and a lot more to reward the winners.

So all my dream is to just hit the jackpot someday and that's it.

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I don't mean to discourage you but all you have is the working site which is important but you need capital to get the license, bankroll to pay the winners and security for the wallet, and staff to maintain the system works smoothly which means you just crossed the first step and still a lot more to reach.

Is not a dream anymore for me, i have been running my engine and working in the code for some years now. But is not public yet... but i have some plans with it. More than running the casino I want to sell copies of it in the future, and not looking to affiliate with other members, if the business goes fine, maybe i will hire some people for the team. But is a project for the future, still need to work on the frontend to have a nice demo version to show to the possible customers.

But i remember in 2015 when the dream started, i didn't know JS at that time, but was a must to code the thing, so, i took some online lessons and with a team started coding it. And made a solid base take us 2 years. Sadly the engine had a lot of bugs and the team decided to quit the project. And after that, i took the code and started fixing the bugs one by one, and after a list of a lot of solved bugs it's running great now. I talked with the other two devs but they are not interested in the project and told me to do whatever i want with it. So, i have some plans for it.

We are all allowed to have our dreams, It's beautiful to have a dream for yourself for it's what gives you a purpose in life but it's not just about having a dream but pursuing the dream to achieving it and for this to happen you've got to slide in alot of work and talent.

However, focusing on the topic on owning a casino  it is without doubt that you stand a 100% chance of making profit as an owner with all the advantages mostly on the house compared to the gambler that's without a hedge but depending only on lucky to have a meager or lump win.  Still we shouldn't forget that a casino is similar to any other business and if you're lacking in business management techniques and ideas to withstand the competitive casino business environment you would be forced to get your business closed down. So owning a casino and having it on course and stand-out isn't as easy as some of us may think by only looking at the hedge the house has as an advantage.

The casino business is not a business that I have never imagined myself to be involved with, but It can be a very lucrative business. Just like every other business that looks very Lucrative from the outside, there are personal business details that have personalized to make their business profitable, there are also challenges that they have tackled to be able to be successful in this business. To run the casino business successfully, you have to identify some of these problems and be able to have solutions for them before the come.

Personal experience eh (lol), i guess you ever run or at least working on a gambling business.
It remind me of my ex-boss, he only slept 2-3 hours max a day for years.

Back to the topic, I have ever dreamt to have a casino, but it happened before I knew how it works from the inside. I gave up on that after several years working in the gambling industry, and Im very agree with TOP69CryptoCasinos wrote above.

Owning a casino isn't for everyone. While it guarantees that you'll have the house edge and win against gamblers, the biggest challenge is the competition. There are already large casinos offering similar or even more services. In this time, the competition is about the reputation of a gambling site because most gamblers prefer sites that are financially stable and have a good reputation.

Getting permits and licensing for your casino can be done with enough capital, but the real challenge is whether you can survive the intense competition in the market.

Agree, I remember back in around 2017, one of the well known bitcointalk member from our local community runs a casino and offered on our local board a chance for the community to invest and create a casino funded by our local members. As nice as it is, unfortunately, it did not happen as there's only a number of members have enough funds to invest on it. It was quite exhilarating at the time as it great idea and it will be funded by bitcointalk local members. If only it did happen, I wonder if that happened how will that gambling platform be performing now.