Topic: How much capital I need to be the House - page 3. (Read 710 times)

But still, to start a gambling site need big money and I guess that will need more than $10,000 because we need to build a new gambling site which will be different than the other. And if the site is not too big or too complicated like the other site, maybe we can press the budget to be cheap than the other.

The big expenses will happen to the code of the site because if we don't know anything about programming the site, we need to hire someone who can program the site to work properly. But if we know about programming, then we can cut the budget so we can use that money to use for the other thing.

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.

I don't think that you need a lot of money to start a venture like this.
Money are accumulated as you operate from the amount of money that are played in your casino.
You should better focus on creating your own strategy and plan on how you are going to dominate the industry and give reasons and incentive to people to gamble in your site.

Just get used to it on where some newbie members doesnt really even know the terms here on gambling field.He much preferring the house literally 

When it comes to capital then the bigger the better but it isnt really that necssary yet you can adjust the max profit or max bet of your gambling site depending on how much bankroll you do have.

Therefore it's very expensive to own a casino, I mean a legit online casino.
200 BTC is equivalent to more or less $800,000 now at the current exchange rate of BTC = USD.

If OP have this amount, it's also not a guarantee that he will be able to run the casino successfully, there's plenty of factors to consider.
He should hire a consultant or an expert in this field, so this will not be come a failed investment in this side.

I don't think become a house can be estimated because technologies are coming out and many gambling sites are adding different features to their gambling sites.  It is important you should seat down and analyze what you think you can do different from the current houses and if that will bring gamblers to your sites.

For what I've known you really need to think about the paperworks, legality and also the concept of your new gambling site since there are a lot of gambling websites which is more trusted (You need to attract the gamblers to your site so you really need to think a strategy or uniqueness of your project) It's true that it's a good business however but needed a high amount of money in order to make one.

Yes they voluntarily come to gambling site... only if the site is good and unique but if you're just like a lame gambling sites without any uniqueness no one will come to your website.

Several suggestions have been put forth by the users to make an investment on the house. This way one can invest from very small amount, but to be the house owner of a bitcoin casino at least 200 bitcoins is a must. This gives regular earning for the owner as every game will be allocated with a house edge.

Presumably, I think that is what he's talking about and I guess he is just confused over about the topic of the house But if you would look closely he even indicates the capital and the proper knowledge maybe building one, But I think we need to just explain that the house OP was talking about was not a literal house but the house edge on certain gambling casino's and gambling sites,

And for morrisgonzalez this is the gambling section learn to read carefully before taking a topic,

What the heck you are talking about? You just bumped an inactive thread with non senses reply. Dont you understand what is being asked in this thread and why you reply it with something related to a real HOUSE?

Basically it's depends on some things. What is your capability, how much expensive house you want to build, how much capital you have etc. First thing you have to enough knowledge about this then you analysis the whole thing that you want.  Look you should gain proper knowledge, have some times, analysis the whole thing then you come to this that how much capital you need to the house.

Honestly I dont want to be rude but @swogerino overexaggerated the issue. Its nice to have a team, have a lot of money to invest, have a business plan, a roadmap......... but fuck it lets face it, bootstrapping with a single good developer that know how to market a business with minimal investment is not unheard of.

If you plan to open up a casino, you could very well do it with as low as 1btc. Of course you will adjust your payouts accordingly, you cant afford whales just yet. But there are a lot more questions to answer before that, the 1st one being : why will people gamble with you? If your casino comes with the same content as every other site : Live casino, slots, sports, card games, dice.... You're already treading muddy waters, the market is saturated with that stuff. So think of something new and fresh, build your community.

If you simply cant innovate in content, you need to up your marketing bar : innovate in bonuses, marketing campaigns that reward on-site bonuses with goals just close enough to reach, but far enough to make the majority lose and deposit out of spite.. All kind of ways that make you lose a minimum, hell, casinos have marketing techniques that MAKES them money. Shit's dark, but everyone does it.

If you still cant come up with something... theres always boobs, boobs work too.

I also love to know how much is needed but I guess everyone who's thinking of running his own casino needs to have a decent amount.
Guessing, 100 BTC is likely gonna help you build your own casino, there's a lot of things to consider, having a capital is not the only requirement, you also have to focus on the market so you can attract gamblers that will play in your casino, and that's a hard task also, considering the strong competition in the market.

Start by making a plan for your gambling site and look for trustworthy people that will help you. Gamblers come and go but if you don't put enough effort in to your site you'll end up losing your regular players meaning less bets and profit for the site.

Someone already mentioned it above. Having a small capital is not risky you can still get a profitable result if you can limit the bet amount or payout it's all about risk management. For example if you have a 10 BTC capital the max profit should be at 0.05 BTC/0.5% of the bankroll or less it's up to you.

In the Op he has mentioned that it doesn't require much efforts. In reality this is not the real fact, it requires a perfect learning about the industry. Importantly there are people who just copy the script and tries to make a gambling website with some amount as capital for the house. To make a gambling website successful one needs to focus on lot of things starting from the analyzing the game which interests people into gambling. Allocation of capital fund for the house comes in the later stage of development.

How about to start with 20 btc, you buy a domain name, hosting server and also buy some script code for the gambling game or you can hire some programmers to create a new site from scratch. Focus on one game if you don't know what game you want to build, and I think dice game would be excellent. We know the more bitcoin for a start will be good because we can prepare for everything until it's ready to launch and introduce to people. Don't forget to have a support system because this is the important things the member should know if they have trouble and they can solve in a short time.

You can study and make a research for that and you will see that you will be able tl know what is the next you do or what is good. The better capital for that I think is thousands of dollars. But it depends to you how much you can afford or capital. Always make a plan for this so that you will not lose any of your money or your capital. Just try to anylyze also each of what suggestion thay we given to you to know what is the better for you. Best for your success in the future.

Yeah using small capital is certainly very risky, because the house system is to recover losses, they will let players win first before
the house takes their money again, from that you need a very large capital dude, and 10-50btc is too small capital for me

Yep, now I understood. So far, I realized my thoughts about capital are totally wrong. Because I don't think before that there are gamblers hold more than 10 BTC or even more who can bet as much as 1 BTC per stage or per game.

Thanks~

10btc is pretty low . you know there are powerful people out there who holds more that 10btc and they even got 100's or 500's of btc .  there are also gamblers that play over 1btc per bets  though you got a point  . we cant still secure our winnings and even if a gambling site has only a little capital there is still a potential that they can win  .