Topic: How to start a bitcoin casino (Read 820 times)

I find that I am unfamiliar with your game vendors/software providers. Are they the ones used primarily by fiat casinos?
Also, the games are certified by whom? What about the Provably fair? House edge?
Will you not be using the more known BTC gaming providers, like say Endorphina for slots?

Lastly, this is basically 'you' being the House/Bankroll, and the Casino Operators being the investors?

If you aren't focusing with bitcoin gambling then it's up to you if you want to make bitcoin as an option for conversion. Better to plan your attack first and don't give bitcoin gamblers an headache with this

Some really interesting feedback, thank you for taking the time and making the effort. If anyone wishes to find out more about what we do and how we are able to assist - feel free to PM me.

So the general consensus is that players would like to deposit and play in BTC. Thinking about it, this is probably the best idea since BTC goes up and down like a fiddlers arm which could mean losses on both sides.

@neochiny Obtaining a license for a casino is expensive (there are a lot of hidden costs). So we built a white labeling system that allows a casino operator to create a brand and promote that brand. We do manage funds and pay commissions (we are regulated and have an obligation to do this). Regulation in my opinion is a good thing, it means management are regulated (so they wont steal your money), the games are certified to be fair (and not rigged).

While our system can pretty much manage anything as a currency, I will need to find out which of our supplier games have been geared for BTC. In some instances the graphics will not allow for the long BTC numbers...

If the default currency is Euro, then this is just a fiat casino that accepts btc deposits and withdraws.

And, you own the license and handle the payments? The casino owner(?) earns a commission depending on net gaming revenue?

Does this mean all the player's deposits and withdrawals goes through you? And, you basically hand out 'profits' to the casino 'owner'/operator every month?

It is actually very good idea to get the users balance in a fixed currency like EUR as you said because many gamblers panic that the price rise or fall may alter their actual winnings and in this case since the value remains in EUR they can be assured that it does not happen. Though honestly opening a casino right now is very tough task particularly with so many already there.

not agree with you if bitcoin casino deposit must convert to euro
if bitcoin casino deposit and withdraw must still bitcoin value not convert

if must convert and you use internal rate not market rate is very bad service

i disagree with converting it into fiat (Euro or anything else) because this is a bitcoin community and we are playing with bitcoin and because of that we want to stay in bitcoin specially because of the price fluctuations.

and besides i believe you are going to kill your own business if you mix price with the gambling, because people see what their coins are worth and they may not gamble as much as they were gambling before.

Playing with fiat currency and your idea is almost same, as a mate said if we want to play gambling with fiat currency yes we can open an account in bet365 and we play. It's already existing and reputed site. Why people prefer Bitcoin means suppose if they win their bets and collect bitcoins. They will hold it until the best price come and they sell it for the best price. If you convert immediately it's loss for players.

Well I agree with you while I see some advantage for gamblers also. I myself prefer to bet in bitcoins and that's why I gamble with bitcoins else I could simply make an account on bet365 and play there.

But at the same time I am sure there are gamblers who would desire a casino that works like non btc casino while still having the freedom of bitcoins and anonymity. Plus having the option to deposit via Bitcoins.

I guess you mean't that's unacceptable, right ?

Since most of the post you were opposing that idea. I agree with you totally because the price of bitcoins and the value pf gambling them is what makes this btc gambling more interesting because I may lose 10$ today but when I wake up tomorrow that loss might be very well healed by the hike in price of bitcoins.

Lol

You can't simply say "we launch a btc casino where blalance is in EUR"
That would mean I can't let my money in your casino! That even if I do nothing, if I deposit 0.1BTC the day after if I withdraw everything and price rised I would withdraw 0.095725BTC that's acceptable!

Wow, amazing if indeed you give all those things. Because everyone can have a casino sites without having to think of something that makes them busy or can't do it. But I am less sure if bitcoin will be replaced by the Euro, as the currency was mostly stable, whereas the bitcoin is not like that. So if the currency (the euro) became the successor of the deposit (the use of gambling) bitcoin then it will give you 2 x folding losses impact than ever. From the previous one could still save a little bitcoin is left to be sold when prices are high, they now bitcoin can not do anything

1.Accepting EUR is not an option when it is a bitcoin based casino.You need other licenses for that.
2.Most of the serious Casino developers always have their own products instead of renting it.
3.This is not exactly a business but working on commission basis.
4.As I have stated before,getting a casino developed is not a problem,making profits with it,is.
5.No matter how awesome your graphics and games are,if the buyer doesn't have marketing and promotion budget,the business will fail.

Why don't you use bitcoin as the currency of your games in casino. lAt least there is a big market if ever you implement that matter, unlike in euro because if you insist your plan only european will get benefit and enjoy the services you have in the gambling.  And most of the gambler in online are using bitcoin not any currency of the nations.

If you executed this and came to the market means it won't works the site will be a flop, and you will not get more players. Only European may come, but I am not sure. No is ready to sell their bitcoin instantly. Everyone will wait for right time to sell to make a profit. So if you come with this condition, no one will entertain your site. It's just my opinion.

As said in the above post, Don't ever think of making a bitcoin casino with such a plan of converting the bet amount instantly while placing the bet. It will not get users have an eye on it. Because people prefer to bet with bitcoin and if they need it in terms of fiat what's the need to find a gambling site accepting bitcoin. They can just play on a regular gambling platform with fiat.

Yeah. and it is a little bit unfair. this is just like forcing a gambler to convert his bitcoin to fiat before he will start your gambling site. Many will dislike this idea because we are all here for bitcoin (bitcoin enthusiast) and it is not a good idea here to introduce fiat in exchange for bitcoin. Perhaps the gambler are living european country then he will maybe like that auto convert because that was their normal currency used in buying commodities.

I think it would be better if you guys are just going to set bitcoin as the currency that is going to be use in your gambling site rather than when someone would deposit on your site, it will be converted into EUR, and they can convert it back in bitcoin, and I found it time consuming and can cause hassle. It would be faster if the players that would play to you could deposit and withdraw bitcoin to your site without converting it to EUR first, for them to be able to play in your site.

About your question if the community will like the idea of instantly converting bitcoins to daily rate of EUR. I think they will not like it. Since most people play in bitcoins, they want to see what they deposit. Also, some do want to use bitcoins but are hoping the prices will rise. If you already convert it to fiat currency then they will not be able convert it at higher prices. On the upside though, they will be saved if prices go down.

I am keen to help BitCoin enthusiast start their online casinos. Over the past number of years, my team and I, have been working on a solution that creates a platform as a service to offer licensed casinos to end users. The objective being to make it affordable by aggregating costs.

We are in the throws of launching our product with the first few casinos being launched as I write this.

Essentially we work with two groups of people:

1. Game Developers
2. Casino Operators

As a game developer, we integrate your games into our platform and pay you a commission on GGR (gross gaming revenue). These games we offer to our operators through an API.

As a casino operator, you get to create your very own casino brand and offer this onto your audience piggybacking off our gambling licensing and payment solutions. You earn a commission on NGR (net gaming revenue). This commission is proportional to your ability to contribute to costs.

So some questions:

I note that BitCoin casino's use BTC as their default currency. What we offer is a default currency in EUR. So when you deposit with BTC, this is converted at the days' rate into EUR which you then use to play the various games with. Once complete, you simply convert back to BTC and cash out.

Part of the thinking behind this is that many of our game providers are not geared for BTC...

What would the communities feelings be on this?

And if you are interested in more information on this: www.gamblingtec.com