How much capital I need to be the House - page 2.

roosbit

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Quote from: goaldigger on January 10, 2019, 05:49:33 AM

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

Simple answer, You have to have more money than what the players are wagering..that's the reason why the house usually has a limit to how much you can wager based on what they can afford to pay out.

You don't want to have a high roller who will match your capital and leave you with nothing after having a good winning run

OrangeSeller

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Quote from: eann014 on May 03, 2019, 08:40:29 AM

Quote from: goaldigger on January 10, 2019, 05:49:33 AM

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

So you want to have a gambling business in short right? If you want to build your own gambling house make sure that you really want it, make sure that you know what you are entering before you make a first move.

You do not have to worry about just money but so many other things as well. You need great team, great coding masters and above all a user friendly platform that could attract people. Normally people tend to stay away from the gambling sites which require them go through KYC. In addition, you would have to worry a lot about costumer care when you really want to be the house.

bering

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If you want to be the house by building gambling sites then it could be a lot cost of money because besides money for the house then you have to maintain your sites and i heard it was not cheap to get secure sites but in my opinion the money amount are depend on how far you able to get the players because if you not able to get plenty of players then initial money to being an the house is not too big

adzino

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If you own a casino, then your bankroll can be of any value. But if you have a low capital, then you will have to set a low maximum win rate by users depending on the total house value. Or else, someone might come and win everything in just one bet and you will lose everything. Again, people don't like casinos with small maximum win. So, you the higher the capital, the better it is. The best thing to do is just invest on current bankroll of some well known casinos. As far as i know, crypto-games.net still has their investment option open!

eann014

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Quote from: goaldigger on January 10, 2019, 05:49:33 AM

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

So you want to have a gambling business in short right? If you want to build your own gambling house make sure that you really want it, make sure that you know what you are entering before you make a first move.

BlueStackz

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Quote from: carlfebz2 on May 02, 2019, 07:23:59 AM

Quote from: TheCoinGrabber on May 01, 2019, 04:40:46 AM

I don't have an estimate in mind but I agree that crowdfunding is the way to go. For that to succeed though, you better have something good to offer. If your just like any regular casino, why bother investing when they can just play with their money elsewhere?

Assuming you do get crowdfunded, if there's nothing that sets you apart from other casinos, the established casinos with just beat you, after all they already have userbase.

How about franchising a lottery outlet first? Those earn ALOT. Pool money from friends and once you've already paid them off, you can invest the income into an online casino. I believe the franchise cost around $10k.

Crowdfunding wont really be that effective unless if you are already an established gambling site just like we do saw on Betking ICO it is plausible but for a start up for a gambling site then its impossible to get some investors unless if the gambling site you are proposing do really have something unique or do spark out someones interest to put up some money then you are on luck but most of the time it would really be hard.

I think there are too many issues with crowd funding and I will not even recommend for an upcoming brand. The major challenge is that of trust, convincing investors on how credible you are without prior record can be so difficult and without trust it will be difficult to raise money to meet the target.

Another way is to write a business plan and show it to close rich family members, family would always come through and seeing a good business plan with great potentials, they would definitely give their full support. I read from the comments that starting up a casino house is over 500BTC, it’s a whole lot of money, it would take a lot of efforts to get this kind of money.

sana54210

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Quote from: Sanitough on May 02, 2019, 06:48:35 AM

Quote from: swogerino on January 10, 2019, 06:45:14 AM

True good casinos start with 500-1000 bitcoins.

That's very huge, I think one can start even below 100 bitcoins since you own the casino, you can set the limit.
What you are talking here is running a serious casino that can take care the high roller.
Well, if you have that kind of amount, why not go aggressive, but bear in mind that the early stage is very challenging though you have the capital.

It's important you can market you casino and build its reputation.

Quote from: goaldigger on January 10, 2019, 05:49:33 AM

<<<<<

May we know how much capital you can afford mate?

Waoh 100BTC is a lot of money. How on earth can I raise this kind of money so I can set my family free from poverty? If I have that kind of money I promise myself never to go broke again lol.

Back to the OP , if you are able to raise this kind of money, you have to do everything possible to separate the casino site from the Regular existing sites, Go aggressive like the upper poster have stated and be sure to make a difference.

There’s no business without its challenges, you might experience few of them at early stage but with determination, I guarantee you would overcome all the challenges and at the end of the day you would be glad you started.

d1ceplayer

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Quote from: Duzter on May 01, 2019, 04:19:00 AM

To be a house the user needs to have a good capital if it is a sportsbook. With casinos there will be specific house edge on each and every game played. Being a house is not that simple as playing and getting paid, lot and lots of issues arise in between which needs to be sought. From my understanding to be the house it needs at least 200 btc.

It can actually be expensive to build but from my research making back the money spent does not take long. From Research, Steve Wynn built one at the cost of $630 and that was in the year 1989. I am very sure building something like that this day would be worth much more than that.

So many people and analysts called him crazy for spending such an amount of money in building a casino house and he was indebted but he cleared all his debts in less than 8 years and starting making profit. So I personally feel no amount is too much to spend if one has ways of raising he capital. And I am sure all issues can easily be sorted out since there is no business without its challenges.

carlfebz2

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Quote from: TheCoinGrabber on May 01, 2019, 04:40:46 AM

I don't have an estimate in mind but I agree that crowdfunding is the way to go. For that to succeed though, you better have something good to offer. If your just like any regular casino, why bother investing when they can just play with their money elsewhere?

Assuming you do get crowdfunded, if there's nothing that sets you apart from other casinos, the established casinos with just beat you, after all they already have userbase.

How about franchising a lottery outlet first? Those earn ALOT. Pool money from friends and once you've already paid them off, you can invest the income into an online casino. I believe the franchise cost around $10k.

Crowdfunding wont really be that effective unless if you are already an established gambling site just like we do saw on Betking ICO it is plausible but for a start up for a gambling site then its impossible to get some investors unless if the gambling site you are proposing do really have something unique or do spark out someones interest to put up some money then you are on luck but most of the time it would really be hard.

Sanitough

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Quote from: swogerino on January 10, 2019, 06:45:14 AM

True good casinos start with 500-1000 bitcoins.

That's very huge, I think one can start even below 100 bitcoins since you own the casino, you can set the limit.
What you are talking here is running a serious casino that can take care the high roller.
Well, if you have that kind of amount, why not go aggressive, but bear in mind that the early stage is very challenging though you have the capital.

It's important you can market you casino and build its reputation.

Quote from: goaldigger on January 10, 2019, 05:49:33 AM

<<<<<

May we know how much capital you can afford mate?

el kaka22

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This depends on so many things that we can't start to actually put a price on a casino. First of all is the creator a developer ?
If he is a developer than we can remove the developer cost, if not we add developer cost. Is the creator a designer ?
If he is we can remove that if not we add that. Is he marketer ? We... well you get the point so there are so many things that goes into building a casino that house actually could have 100's of things that change the price.

Moreover, if the website is purely ready and just the house bankroll is the question that it could be as much or as little as you want since you can just limit the max win as little or as high as you want. If you have low bankroll you allow people to win max 0.1 bitcoin for example, or if you have high bankroll you can make it 10+ it all depends on how big you want to allow people to bet.

raven7886

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Quote from: jhongzjhong on May 01, 2019, 03:02:12 AM

It takes a massively amount of money or crypto if you building a house in a casino. First, you need to promote this just to gather more clients and also dev for maintenance on the site if you going to have an online casino. In this gambling industry, you need to have cover expenses because there are too many competitors out there who have also a casino. I didn't have experience owning one casino so I can't state the amount of OP need before he had a casino.

It would definitely require a lot of money and its something that I feel the OP should be able to raise because considering the expected profit, one would know that it is worth it. If I knew all about the startup amount needed to start up and all, I would not mind also learning more about how to do this business, because it’s a good profit making business.

Having so many competitors is not an issue, is just to give his own site a good standard that would attract players to the site. And once its is already known to be reputable with varieties of games, then he is sure of many players visiting the site and money starts rolling in.

TheCoinGrabber

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I don't have an estimate in mind but I agree that crowdfunding is the way to go. For that to succeed though, you better have something good to offer. If your just like any regular casino, why bother investing when they can just play with their money elsewhere?

Assuming you do get crowdfunded, if there's nothing that sets you apart from other casinos, the established casinos with just beat you, after all they already have userbase.

How about franchising a lottery outlet first? Those earn ALOT. Pool money from friends and once you've already paid them off, you can invest the income into an online casino. I believe the franchise cost around $10k.

Pattart

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Quote from: Malsetid on March 27, 2019, 07:40:34 AM

Quote from: goaldigger on January 10, 2019, 05:49:33 AM

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

I don't think it's that expensive if you're just trying to put up a small neghborhood gambling shop. I mean, all you need is a place to set up your small casino, few cards and chips, a couple of means of entertainment and lights and your neighbors can come in and play. If you're planning an online casino though or starting a pretty big one, then it's going to be a little difficult both in effort and expenses.

Right if you want to create a casino site, of course you need very very large capital. You can't just run a house with mediocre capital.
You need something very big, because in the house algorithm, they usually suffer losses first, and you need big funds to recover it

Duzter

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To be a house the user needs to have a good capital if it is a sportsbook. With casinos there will be specific house edge on each and every game played. Being a house is not that simple as playing and getting paid, lot and lots of issues arise in between which needs to be sought. From my understanding to be the house it needs at least 200 btc.

imstillthebest

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Quote from: Malsetid on March 27, 2019, 07:40:34 AM

Quote from: goaldigger on January 10, 2019, 05:49:33 AM

{ snip }

agree on you boy . starting up a local or offline casino is more easier . you can just directly buy some cards or dice and you can just use your own furnitures then voila you have your own gambling shop while if he is dealing with online gambling site i think its pretty difficult as there are lots of requirements needed not to mention that he also need to promote his site hard becuase online gambling site is a huge industry with lots of good competitors .

jhongzjhong

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It takes a massively amount of money or crypto if you building a house in a casino. First, you need to promote this just to gather more clients and also dev for maintenance on the site if you going to have an online casino. In this gambling industry, you need to have cover expenses because there are too many competitors out there who have also a casino. I didn't have experience owning one casino so I can't state the amount of OP need before he had a casino.

klaaas

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Quote from: eternalgloom on January 10, 2019, 10:45:37 AM

True, you have absolutely no control over the house-edge that that particular website has, so profits will be limited because of that.

Shares could even go down if multiple users are winning high bets on the same day but mostly this level out on the long run.

As starter those high bet winners are mostly the ones to take in mind when doing calculations.

Johnzky

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Even if you sell your house that wasn’t enough to start a gambling site..(not unless you have a luxurious house and lot lol)

Maybe its better for you to start gambling in your local place to have enough capital to make a online gambling house,because it is much cheaper and easily to operate as well

micher143

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Quote from: goaldigger on January 10, 2019, 05:49:33 AM

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

Why would you need to be the house if you can just enjoy playing the games? Well, it's your own perception and I respect that. Well, you need to do further knowledge about the thing you want to be to be able to know your capacity and capability to be the house. For sure a big capital is in need for that so you need to have earned a lot to fund or provide to be able to become the house. I do not want that real pressure in my life upon getting engaged into gambling that is why I just tend to play all throughout and do not certainly mind always winning because I just bet in small amounts that is why I can still enjoy my gambling games with no worries which I did into the best crypto casino that I am currently into which is Vegas casino wherein I can play conveniently into it because it accepts Bitcoin deposit to be able to enjoy variety of games that I love like poker, slots, black jack and many more as well as their great deals of bonuses for doing my deposits in terms of Bitcoin.

Topic: How much capital I need to be the House - page 2. (Read 710 times)