Topic: Have your own casino. - page 7. (Read 1431 times)

You are right though, but let me point out some few things, it isn't that hard to build a casino, but also consider the fact that competition is very high at the moment amongst online gambling casinos, which I think changes everything, for now, it no longer about owning a gambling casino, the question is, how big or popular is it?, how many active players are there on the casino?.

I personally have come across some really good casinos, well structured, beautifully designed and so, but not very many people playing there, which brings me to the issue of marketing, this days, without adequate marketing, some one who owns a casino is as good as the person who does not own one, a person can spend let's say $20,000 to build a world class casino, and would spend hundreds of thousands of dollars on marketing because, marketing is a never ending expenditure for online gambling casino, for the day you stop marketing, you start losing customers gradually.

I never dreamed about having my own casino but if I can get my own casino then it's always going to be a good thing for me. Now a days, it isn't that hard to have one's own casino but still initial investment is required to have a proper casino which may have some active players.

The worst thing of this time is that the casinos must have some type of license to work and unfortunately I think that's not needed that much. The games are widely available by game providers which a new casino can implement into their platform, but I still believe that the ones who build their own games will have priority over the others.

I think that having your own casino would be a Spectacular Business , but I think that I wouldn't mess with having a business like that if I didn't have the necessary capital for them, because we must remember that things when it comes to how Players who are Whales play , They will Want to enter by making big bets, and if we do not have the capacity to pay in case they win, then we will look very bad and it will be something disastrous, then we can have the best structure to do it, the best of all the friends once it is see nice, eye-catching , the best games with their suppliers, the best staff, but the question here is money, if there is not enough how can you maintain a casino? Taking into consideration that if players like those who enter stake.com arrive who are very good , they are whales , because it is Something that is quite strong , then we can say that when things are treated like this, it is very different.

Now for me that is the main way that I don't set up a casino, secondly I don't know or have any idea how much the minimum capital is that you can set up a casino, I think it would have to be a lot of bitcoins, it's the only way I can say that things worked really well, because if you start playing slot machines, which are quite nice and there is a bet of 700-1000usd and you win the biggest prize, the money is an exorbitant amount that must be paid, and You must pay so as not to look bad, because otherwise it would be a scam, and so in the forum there have been many cases where the casino cannot pay and then they try to get ahead with the payments that some players make with their deposits, that is, the casino tries to capitalize with the players' money , that is something that is not viable and is a very reckless strategy, because basically money is something that the casino is always protecting at all times, it is its way of surviving, I don't see any other way .

That's true, having adequate time enough to plan ahead is very necessary because this will help with the sustainability of the casino business since there was a planned pattern to carry the entire operations, maybe if this is well considered, such establishment may not constitute other gambling platforms that exists today and cease operations tomorrow because of many reasons beyond their own understanding or explanation, but when the plan is in place, every other needs will be meant as in demand towards the successful growth of the gambling platform establishment.

You are apparently right about this, however, I would say that a casino business is something one should not consider in a rush, one should take his/her time when trying to start a casino or any gambling business, gambling businesses need a lot of money (millions of dollars) to start, one most register to his/her government, must pay tax and so on, and all this can't be fulfilled without a lot of money.

Maybe because the house is always on the win streak many people will dream of having / owning their own casino. I hate the idea of gambling but when it comes to business and running a casino, I may consider that as an opportunity. While playing or gambling in a casino, people think about entertainment and money. But when running the business, that's a whole new story. It's hard to maintain a business. There are tons of things that you need to learn in order to successfully run a business in this particular section.

Privacy of other people, keeping the data safe, implementing user-friendly games, and many other things is much complicated than just playing the game. I would stick to the entertainment rather than running it on my own. It is quite profitable business no doubt but maybe I am not capable of it. But there's no rule to not dream about it. Yeah, maybe I can dream to have one.

If you are a gambler then you would definitely be having that kind of interest on running a gambling business but pretty sure it wont really be that so something simple yet there would really be
some considerations which needs to be checked or would really be handled out and not really just that sitting right away and just waiting for some revenue. This business doesnt work on that way.
Yes, we are the house and having that full control but retaining players on the site is never been that easy. It might really sounds too basic on running a business but its not.
There would be tons of consideration which you would really be needing to set and everything should really be in order for it to function well and something that it is really that reaping some revenue.
Who doesnt really want on having a business on which we know that it is extremely that profitable? We are all wishing on having a business and even to those people who dont have
gambling knowledge that much but still they would really be considering on having this.

If only dreaming, maybe since a few years ago I have had the desire to build my own gambling business but unfortunately everything will not be as easy as I dreamed because first requires large funds and then you have to have quite a lot of experience all gambling systems and one side at this time very there are many online casino sites, which means there will be very difficult competition because there are more and more online casino sites, of course all gamblers will choose casinos that have good reputation and provide quite large features or bonuses and as time goes by, many casinos will also go bankrupt because this quite heavy competition.
So maybe my dream will just be dream that will never be achieved.

I still do wish to have my own casino but at no point I thought of playing the games and always win.
That wouldn't be fun and there's no point if I am winning my own money.
I wished of having a casino and organize live betting games or something similar.
But it seems it involves a lot of regulatory issues.

It not all about the money, mate. A lot of technical stuff goes into developing those games, protocols, designs and then keeping that code clean to avoid the exploits from happening.

Its a full time job and not something of a one man game at all. Hence I would never do all that myself but only be the bankroll investor, let the developers work on their development and customer support deal with complaints. But to reach that level, like sites like Stake have done, takes years of dedication, innovative ideas and a community promotion to keep people coming in.

I guess casinos like stake are just taking advantage of our current technology, I've never experienced talking to a bot for long in stake as for my personal experience, from the few encounter I have with their support, I always ended up having to talk to a real human.

Big casinos always has investors in their back, it's hard to set up a million dollar casino without the help of a investor to help you fund it, it's the same way as big physical casinos. Though there are small one that carry their money to use as a bank roll. I also don't think that it's right to build a casino especially if you are a starting developer even with the help of chatGPT. There's a lot to consider especially the security of casino. I just don't think that casino owner that is also the major contributor in developing the casino will strive as there are too much thing to do in growing a really good casino.

If you want to establish your own casino, you will need huge amount of capital which is possible for many people but many people cannot establish their own casino despite having the capital for advertisement and sustain. In countries where casinos are legal, it is not possible to manage the amount of capital required to apply for official casino registration and team management. Moreover, it is possible to establish a casino in a country where casinos are illegal, but it is impossible to actually establish one.

The casino business is not far different from other forms of business as they all need money as capital - and yes, that is really a huge amount of money. That is why not all have been given the chance to start and own a casino (including me). That is why I don't even think about it, I'd rather choose as a gambler because that is the only thing that I can afford. Perhaps, it was not necessary to own a casino in order to enjoy gambling or let us say, it means of success as I'd never see myself empty even if I don't have it.

We can dream of having a casino, but we need to remember that building a casino doesn't just use money but requires a lot of marketing and other strategies to make a casino that many people can play and like, a casino will never make money if no one plays. This is why marketing is very important for the progress of casinos because this method will attract a lot of user interest in gambling.

Other additions also use marketing strategy ideas such as welcome bonuses and others to keep gamblers gambling without stopping playing, so that's where we will find unlimited money, money that will continue to come in and continue to provide profits for us because the casino has many active users playing. gambling there, the key to casino success is being able to get more active users and gambling addicts will be more profitable.

Well, Stake is the right example of how to make crypto gambling a 1 Billion dollar business, they know how to scale up the company and build a true empire. But i don't like how they operate, form me it feels like they lose that human side. And i understand why, for sure they have tons of complaints daily, so, they answer to the customers by protocol. But from my user perspective is not the right way to deal with customers.

And i know is hard to dream about a project like this, as you say the bankroll is a must and the developers must be good. But think about it and you can become the developer with the help of chatgpt, and the bankroll can be filled by investors. So, if you think about it, there are some ways to make it possible.

All that you mentioned above is correct and most especially in the area where you started the need for time and hard work to keep the casino running and being able to attract gamblers and also being able to pay for a prize no matter how much is involved in the winning,  this is very important for start-up casino since the business is not as easy to run as people take it to be,  because when you mentioned operating a casino,  some people will just assume you making easy money without any efforts,  we're as there have been proven cases of where the team will go on for days without break or off from duty,  that is the reason that casino operations are most suitable someone who already have the technical knowledge and long term experience of the industry to be able to run it effectively.

But talking about the revenue and profits merging for this business,  then I will say that,  you may be wrong in the last paragraph of the text where you said that the team may not have money left after paying bills that is not true and at some point may be a false alarm because a lot of the casinos that have put the right mechanism I place are making enough profits even after all expenses for the period have been settled.

In the past, there was no big competition, there were only one or two games like Dice and Bustabit and bitcoin wasn't concidered as a currency. Today you have a different reality, these casinos, some of them that used to be made single-handedly, turned into big companies that have big offices and hundreds of employees. Stake started as a primedice, it was primedice at first and after years, Stunna created a new casino called Stake. It was not exceptional casino at first but over time, it grew and become one of the greatest casino.
In the past, I used to dream to have a bustabit like website but was too little to create that, didn't have a bankroll. Today, it's hard to dream, you need a huge bankroll and a team of professional developers who know what they do.

Financial stability is another major area of focus when establishing a casino. When enough finance is readily available, there would not be a problem because wins will always be rewarded and attracts more potential customers to your casino because of the single act of paying up rewards.
Credibility and honesty as you have said is very much important when a casino is to start up. People really look into these factors because this has to do with their assets and funds which they are entrusting into a third party. So what is expected is safety and accountability on the part of the third party which is of good importance and makes their clients and customers to believe and have that confidence in the.

Although on a technical level, and to lower barriers and to make running your own casino a little more permissionless, I believe developers could also build an open source engine like what the builders of OpenCEX are building, https://bitcointalksearch.org/topic/opencex-a-free-open-source-crypto-exchange-engine-5443875

 

If we could assume that the code is checked and audited throroughly by the community, I believe such a project and its community, with passion for free software and GPL/Copyleft,  could grow like many open source projects.

Well, of course, building and running a gambling casino is not easy, for if it was, i guess many of us here would already be managing our own private casinos. On the norm though, starting any business, most especially a business that has to run and operate online, is not easy, it requires a lot of money since one will be hiring not just developers, but very good ones who can sure deliver what they are expected to, one will also be hiring graphic designers who can oversee to the production of infographic materials that will be used for the casino's announcements and promotions.

I personally would say that, building an offline casino, like a physical casino with an real world address, sometimes may cost less, than building an online casino, one thing with online casinos is that, they need constant promotions and advertisements, else, before you know it, you would lose all your customers to another casino, something that is not really need for offline casinos.