How much initial startup to Start Cryptocurrency Casino? - page 2.

EarnOnVictor

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Quote from: dothebeats on December 05, 2022, 07:02:50 PM

You'll be looking at hundreds of thousands if not millions.

You have to sustain the bankroll of your platform else you'll be looking for a lot of problems along the way. You will also have to make sure that your welcome bonuses are generous enough to attract a lot of new patrons and players onto your site. Your platform must also be seamless and the UI/UX must also be top-tier for you to attract a lot of new players in the game. There's a lot of things to consider, and with it comes a lot of $ too. You can always start with a couple thousand dollars and toss a coin up in the air for luck, the question is: how long can you manage to stay afloat without having some backlogs on your payouts?

Much less than $100k would fix online crypto casinos, it only has to do with the right goals and plans. The first is to know your budget and work around it. You might spend a huge amount if you have the money and taste for some standards and fairness, but if not, you can spend a little amount by first registering in a country that is less strict with gambling, and where the money to register is not much.

And of course, building a website is not an issue, you only need experts for security and others, which is not a big deal. However, about the bonuses and payout, they are still not a big deal. You should know that bonuses are not real money, they are virtual, and even the conditions attached to them would make it difficult for anyone to win. Also, you should know that casinos could set their programs to 100% loss if they want, it's just an algorithm, which is different from sports betting.

Outhue

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The fund to start a casino isn't the problem, if you have no past experience about how to run a gambling platform you will end up shooting yourself on the foot.

Asking this question shows that you have no past experience, it's better to start one before starting your own gambling platform or face a very shameful consequence.

Do you know that you have to keep your online casino secured too? Hackers will come knocking so that's another thing to think about.

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Quote from: fennic on December 05, 2022, 02:09:03 PM

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

Any business is needed to operate with having own experience. Since you are new you need this experience. Otherwise you will not be able to handle Casino business easily and you will need more money. But even if you want to do, you need to hire one experienced person who have enough knowledge in casino business. At the same time you will need a expert developer what will be your site or which direction your site will focus on. You need to review a variety of topics, including security setup for your site. In this case any one need large amount of money. I think it may cost about 1x more than from the initial budget to manage the casino for an inexperienced.

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Quote from: AmoreJaz on December 10, 2022, 06:24:06 PM

Quote from: FanEagle on December 10, 2022, 05:56:52 PM

A good one? Millions of dollars at least. The world is filled with people who think they can start a casino for 10 thousand dollars, and it is true that it can be made for that much money but then you would neither have any money left for in case someone wins big, and you wouldn't have any left for marketing as well.

To be at the levels of stake, sportsbet.io, roobet, rollbit, and many alike at the top of the crypto gambling world, then you really need at least a million dollars, so that you could start at that level, offer big rewards, and do great marketing as well. Just last year, Stake gave Everton 10 million a year for jersey sponsorship, imagine that.

they will soon come to the point that they will understand that it is not only about the money or bankroll they have, but the overall knowledge about this industry. one can start small, but how dedicated and how knowledgeable are the people involve to sustain the gambling business? this is why a lot of small casinos are getting abandoned because they can't maintain its operations and their clients are not increasing. so it is not about the initial funds that one should worry about. should ask himself if he is indeed ready for this kind of business.

You're right, a person must have worked closely with one or two Casino managements and understand the core details of running the business before venturing into opening a Casino. A person can lose out all the $1 million if they don't have the initial idea required to run effectively a gambling business.

ethereumhunter

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Quote from: robelneo on December 11, 2022, 10:28:25 AM

That is why the gambling community are looking for license for casinos that opened an announcement here they know how hard to get the requirement it's not the license fee but the requirements attached to the license, building and running a casino should be handled by experts who have years of experience as players as managers and as a developer, the community is very quick to point out the mistakes of a casino if handle by newbies, so apart from the initial investment cost the level of experience is also important.

It also relates to the trust of gamblers who will see if the casino has a license or whether they need to maintain one. By looking at the license, they will be sure that the casino is really serious about running its business and will not disappoint its customers. Help from the community also really helps casinos grow faster and better because the community will surely spread the good news to many websites, attracting more people to visit the casino. After gaining greater trust from its members, it can continue to improve its services for its members. And of course, the initial capital they use can also increase along with the profits they get so they can grow their casino.

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Quote from: Jemzx00 on December 10, 2022, 07:55:14 PM

Actually, Even if the OP has that kind of money and/or has a great team working for his casino, he will still have a huge struggle to be able to compete with these huge casinos out there. These great casinos have been running for a long time and have already built their reputation throughout the online crypto-gambling industry.

However, if the OP has only limited funds such as 100 thousand dollars. I believe it's already enough to run a gambling platform but will limited bets and games or they can just focus on one game such as Dice or Slot. Also, if he will be able to provide a unique experience to it's gamblers, I guess in the long run they could add more games and remove limits.

While 100k may seem like it is a lot of money the truth is that when you begin to consider all the expenses that a casino can incur you realize that such a sum is probably nowhere near enough to create a good casino.

Now this could be possible if you are a programmer with years of experience, as this could reduce the costs that you need to pay when developing the casino, but there is not really a lot of people like that which have such combination of skill and money, and if the OP does not have those abilities then he has no other option but to try to raise more money if he wants to create a casino which may succeed in this industry.

Slow death

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Quote from: SirJohnVonSlotty on December 08, 2022, 12:36:26 PM

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

your post made me laugh a lot because I kept asking myself: this office they ask to be in curacao, will the authorities of curacao go to those offices to do some inspection or does it just take someone to say that there is an office in curacao so they already believe, why with so many scam casinos i've seen? I doubt that the scam casinos or many of them have an office in Curacao, now about other requirements I also don't know if the casinos can meet them, and to be more honest I even think that everything is done online and there isn't so much bureaucracy, because I'm not to see most people going to curacao to get license from casinos. maybe i'm wrong

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Quote from: SirJohnVonSlotty on December 08, 2022, 12:36:26 PM

Quote from: madnessteat on December 08, 2022, 12:02:32 PM

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

Yes, the license is cheap, but the requirements that you need to meet before you apply aren't Cheesy

For MGA, the Malta one, as an example, you need to have a developer in your team that has experience with iGaming with a minimum of 3 years of experience. People like these are 60k EUR per year easy.

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

That is why the gambling community are looking for license for casinos that opened an announcement here they know how hard to get the requirement it's not the license fee but the requirements attached to the license, building and running a casino should be handled by experts who have years of experience as players as managers and as a developer, the community is very quick to point out the mistakes of a casino if handle by newbies, so apart from the initial investment cost the level of experience is also important.

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Quote from: FanEagle on December 10, 2022, 05:56:52 PM

A good one? Millions of dollars at least. The world is filled with people who think they can start a casino for 10 thousand dollars, and it is true that it can be made for that much money but then you would neither have any money left for in case someone wins big, and you wouldn't have any left for marketing as well.

To be at the levels of stake, sportsbet.io, roobet, rollbit, and many alike at the top of the crypto gambling world, then you really need at least a million dollars, so that you could start at that level, offer big rewards, and do great marketing as well. Just last year, Stake gave Everton 10 million a year for jersey sponsorship, imagine that.

I do not think OP is even considering to compete against those casinos you mentioned.
One needs to me realistic when one is starting a business but also do not let pessimism to take over, in the beginning every successful business had to start somewhere and also face competitors.

It is matter to have a good plan and follow it, and in case things do not go as intended then try to stop losses without defrauding the players, of course.

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Quote from: FanEagle on December 10, 2022, 05:56:52 PM

A good one? Millions of dollars at least. The world is filled with people who think they can start a casino for 10 thousand dollars, and it is true that it can be made for that much money but then you would neither have any money left for in case someone wins big, and you wouldn't have any left for marketing as well.

To be at the levels of stake, sportsbet.io, roobet, rollbit, and many alike at the top of the crypto gambling world, then you really need at least a million dollars, so that you could start at that level, offer big rewards, and do great marketing as well. Just last year, Stake gave Everton 10 million a year for jersey sponsorship, imagine that.

Actually, Even if the OP has that kind of money and/or has a great team working for his casino, he will still have a huge struggle to be able to compete with these huge casinos out there. These great casinos have been running for a long time and have already built their reputation throughout the online crypto-gambling industry.

However, if the OP has only limited funds such as 100 thousand dollars. I believe it's already enough to run a gambling platform but will limited bets and games or they can just focus on one game such as Dice or Slot. Also, if he will be able to provide a unique experience to it's gamblers, I guess in the long run they could add more games and remove limits.

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Quote from: FanEagle on December 10, 2022, 05:56:52 PM

A good one? Millions of dollars at least. The world is filled with people who think they can start a casino for 10 thousand dollars, and it is true that it can be made for that much money but then you would neither have any money left for in case someone wins big, and you wouldn't have any left for marketing as well.

To be at the levels of stake, sportsbet.io, roobet, rollbit, and many alike at the top of the crypto gambling world, then you really need at least a million dollars, so that you could start at that level, offer big rewards, and do great marketing as well. Just last year, Stake gave Everton 10 million a year for jersey sponsorship, imagine that.

they will soon come to the point that they will understand that it is not only about the money or bankroll they have, but the overall knowledge about this industry. one can start small, but how dedicated and how knowledgeable are the people involve to sustain the gambling business? this is why a lot of small casinos are getting abandoned because they can't maintain its operations and their clients are not increasing. so it is not about the initial funds that one should worry about. should ask himself if he is indeed ready for this kind of business.

FanEagle

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A good one? Millions of dollars at least. The world is filled with people who think they can start a casino for 10 thousand dollars, and it is true that it can be made for that much money but then you would neither have any money left for in case someone wins big, and you wouldn't have any left for marketing as well.

To be at the levels of stake, sportsbet.io, roobet, rollbit, and many alike at the top of the crypto gambling world, then you really need at least a million dollars, so that you could start at that level, offer big rewards, and do great marketing as well. Just last year, Stake gave Everton 10 million a year for jersey sponsorship, imagine that.

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Quote from: Wakate on December 08, 2022, 07:02:36 PM

This looks very especially paying your works and having a huge bankroll Incase the need arise. Building a crypto casinos is not as easy as we think, if not many of us would have build their own casinos and start looking for gambling through ads and other methods of luring customers to start using the site. These that you have mentioned is one out of the hundred requirements to open a casino whether a house casino or online casino. These requirements are just to ensure the limited complains of gamblers when they start using the casino for everyone safety.

I agree with you because the big capital factor makes us think about effective ways to build a casino.
After the casino has been created and launched, the next step we have to do is promotion, which will require a lot of money to get started.
That is why every casino owner must carefully calculate all the costs arising after the casino is finished.
There are even casino owners who have calculated everything carefully.
But it won't always go smoothly because something will come up that we can't foresee so having a reserve fund is also always advisable.

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Quote from: Wakate on December 08, 2022, 07:02:36 PM

Quote from: SirJohnVonSlotty on December 08, 2022, 12:36:26 PM

Quote from: madnessteat on December 08, 2022, 12:02:32 PM

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

Yes, the license is cheap, but the requirements that you need to meet before you apply aren't Cheesy

For MGA, the Malta one, as an example, you need to have a developer in your team that has experience with iGaming with a minimum of 3 years of experience. People like these are 60k EUR per year easy.

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

This looks very especially paying your works and having a huge bankroll Incase the need arise. Building a crypto casinos is not as easy as we think, if not many of us would have build their own casinos and start looking for gambling through ads and other methods of luring customers to start using the site. These that you have mentioned is one out of the hundred requirements to open a casino whether a house casino or online casino. These requirements are just to ensure the limited complains of gamblers when they start using the casino for everyone safety.

If building casino business is cheap then lots of people would really be making their own considering that this business or venture is really that profitable then lots would really be making one but thats not the case

which it does really prove out that this would never be cheap nor really be that easy to be done.Lots of things to be considered first and spendings which would never be cheap.
I dont know if those numbers been imposed by other posters are accurate but one things for sure that only big time investors or business owners would
really be able to established or create one.

Wakate

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Quote from: SirJohnVonSlotty on December 08, 2022, 12:36:26 PM

Quote from: madnessteat on December 08, 2022, 12:02:32 PM

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

Yes, the license is cheap, but the requirements that you need to meet before you apply aren't Cheesy

For MGA, the Malta one, as an example, you need to have a developer in your team that has experience with iGaming with a minimum of 3 years of experience. People like these are 60k EUR per year easy.

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

This looks very especially paying your works and having a huge bankroll Incase the need arise. Building a crypto casinos is not as easy as we think, if not many of us would have build their own casinos and start looking for gambling through ads and other methods of luring customers to start using the site. These that you have mentioned is one out of the hundred requirements to open a casino whether a house casino or online casino. These requirements are just to ensure the limited complains of gamblers when they start using the casino for everyone safety.

rahmad2nd

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Quote from: fennic on December 05, 2022, 02:09:03 PM

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

Online casino business is a profitable business. however, to run this business is not as simple as you think, believe me. moreover, if you want a centralized casino. Besides you need the web as a basic material for building an online casino, you will also need a team to manage the online casino that you are running. before that, you must have a license and I think the cost varies greatly depending on needs.

however, what is certain is that you will need large funds and you must also have adequate financial logistics for the operational needs of the online casino that you are running. not to mention, you and your team must have good management, at least need a few workers in their respective fields. You also have to do promotions, so that the online casino that you founded is known to exist. I have no knowledge, how big the budget is needed. but if you want to have an ideal casino, like the casinos on our forum. I think, with an initial capital of 100k it's not enough.

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Quote from: madnessteat on December 08, 2022, 12:02:32 PM

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

Yes, the license is cheap, but the requirements that you need to meet before you apply aren't Cheesy

For MGA, the Malta one, as an example, you need to have a developer in your team that has experience with iGaming with a minimum of 3 years of experience. People like these are 60k EUR per year easy.

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

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I think it is subjective because for one person $100k would be more than enough to start a casino whereas for the other it would might still not be enough.
Lets make it simple. In order to build an online casino it would require a domain and few developers to build the website.
You will also have to partner with a gaming provider to implement few games and also a support team.
Initial investment of $25k should do the job. Lets take $50k for the bank roll and so a minimum of $75k in the beginning would be needed to start an online casino.
These are just high level estimates and the real estimates could differ a lot.

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Quote from: Iroh on December 08, 2022, 10:06:59 AM

OP, Trying to start up and run a casino is no easy feat. There are hurdles and I mean a lot! Starting from your license to enable you run to full time marketing. You need to make your new and unknown casino known and that is no easy feat. You would have to spend a whole lot of money to put yourself out there. Not forgetting that there are old, reliable, trusted and known casino out there who would definitely be a competition to you. You would have to offer madly attractive promotions and services and all that requires money. Obviously, you couldn’t handle all that by yourself and would need to have a staff working either full time or part time.
If you’ve got $100,000 to play around with, I would ask you think really hard before you put up a casino.

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

In my opinion, the most money to be spent on attracting customers, as when you enter the market, customers will have to be enticed from other gaming sites, and it is quite problematic.

I think that the $100k may not be enough to promote the casino and get a good reputation. If I wanted to open a casino I would first calculate all the costs for a couple of years of non-profitable existence, and then decide whether it is worth it.

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Quote from: casinodevservices on December 07, 2022, 12:15:50 PM

Development costs for a crypto casino are around 3k, and from there you can build a bankroll from your first withdraws. It will pay for itself if you market correctly.

Did you create that username because you're selling a casino development service if you are, you should be an authority on this kind of topic and you can fully explain everything in detail about starting up a casino but you posting nonsense like this with no further explanation or back up your post, you should create a breakdown of that $3k because its subject for further discussion when many people are discussing casino at $100k, please don't offer a cheap looking casino if that's what your $3k can set up, its a disservice to your potential client and people will think that you just want easy money.

Topic: How much initial startup to Start Cryptocurrency Casino? - page 2. (Read 931 times)