Topic: How to Start a Bitcoin Casino/Sports Gambling Business (Checklist) - page 3. (Read 741 times)
April 19, 2019, 08:24:06 AM
Gambling is getting to be one of the much competing industry with cryptocurrency acceptance and usage. Upon this it is completely a hard thing to start a casino/sportsbook without a large capital. Same as the capital large fund needs to be allocated for promotion of the gambling websites. Also it needs more regulatory compliance to be fulfilled which too requires a lot funding.
April 18, 2019, 08:36:28 PM
April 18, 2019, 06:34:28 PM
Very informative post and starting a casino/sportsbook is a very expensive business practice to become involved in.
It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.
Capital is the most important thing since you can’t start a business without this. Usually those who operates gambling sites have their own company who can really set up a gambling site. They have the legal team for this concern but this post can really help who are planning to have their own gambling site in the future. It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.
April 18, 2019, 04:37:06 PM
I never no it really entails huge sum of money like what op mentioned above before one can set up a gambling company. Maybe this was the reason why many of them try as much as possible to raise money from ICO before setting up there gambling company.
April 18, 2019, 02:10:06 PM
Very informative post and starting a casino/sportsbook is a very expensive business practice to become involved in.
It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.
It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.
April 18, 2019, 01:57:24 PM
Thank you very much OP for this well detailed information, you have taken your time to put up this very useful and helpful information and I think you deserve all the accolades. But, starting a gambling business is not as easy as you make it look on your write up. I have seen many who started and gave up along the line.
In gambling business, you need a lot of capital and investors will definitely come in to raise the capital, then if your USP is not very clear you will have a lot of problems. You have to explain your differential at every step in your business. Every details needed at all point has to always be made clear to both investors, end customers and potential customers and this process is not that easy, and if its not handled properly at this stage the business could collapse.
In gambling business, you need a lot of capital and investors will definitely come in to raise the capital, then if your USP is not very clear you will have a lot of problems. You have to explain your differential at every step in your business. Every details needed at all point has to always be made clear to both investors, end customers and potential customers and this process is not that easy, and if its not handled properly at this stage the business could collapse.
April 18, 2019, 01:01:46 PM
It would be a big help for those who are aspiring to have their own gambling business. I think capital is the most important aspect that is needed to start a bitcoin casino. Every business needs funds to make it firm. It's a great opportunity for those countries who are open to gambling business for it would be easier for them to create one and attract more players.
It is really capital and knowledge like the one op has shared that is needed to have a good gambling site. I see many gambling spending a lot of money to develop their sites and even after developing spend another money for promotion and creating trust. It really need knowledge and fund to have reputable gambling sites like Bustadince and fortunejack. 
April 18, 2019, 09:18:11 AM
yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.
Well, start gambling business is not easy but no business is every easy. When you consider the return on investment, you'll realize it worth the efforts. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.
It’s interesting to know that you can be of help in putting interested member through, but I would like to make a request if you can please make it public. I know many would be on the platform that are willing to know about the business and making it public for everyone would be better. Just my suggestion though, you might have your reasons for PM.
April 17, 2019, 08:36:21 AM
yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.
Well, starting a gambling business is not easy but no business is ever easy. When you consider the return on investment, you'll realize it's worth the effort. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.
April 15, 2019, 08:23:47 AM
I think I agree with you. With experience and knowledge, you can make sure and convince the investor to help you in the finances so you can start to build the business. But you need to think about how much percentage for both of you because if related to the money, sometimes it will ruin the relationships and it will abandon because I see this is happening in real life and also in the online life.
It's better we know who that person that will be our partner and discuss everything including about the royalty or compensation in every month or at least until the project can get a profit is. In that time, money will be the second and the trust will be the number one which you should have with your partner.
Yes, trust is important in every business partnership or partnerships in general. In this partnership, I would like to run the business together with the partner, so that everyone is aware of everything, both the profits and loss.
April 15, 2019, 02:47:57 AM
It would be a big help for those who are aspiring to have their own gambling business. I think capital is the most important aspect that is needed to start a bitcoin casino. Every business needs funds to make it firm. It's a great opportunity for those countries who are open to gambling business for it would be easier for them to create one and attract more players.
I understand where you are going. Beyond raising the capital for the business, experience is very much important. In fact, experience is more important that the money because without it, you won't get anything done meaningfully.
I have pretty good experience in this business. You can reach out to partner with me if you have what it takes in terms of finances.
I think I agree with you. With experience and knowledge, you can make sure and convince the investor to help you in the finances so you can start to build the business. But you need to think about how much percentage for both of you because if related to the money, sometimes it will ruin the relationships and it will abandon because I see this is happening in real life and also in the online life.
It's better we know who that person that will be our partner and discuss everything including about the royalty or compensation in every month or at least until the project can get a profit is. In that time, money will be the second and the trust will be the number one which you should have with your partner.
April 14, 2019, 04:55:44 PM
It would be a big help for those who are aspiring to have their own gambling business. I think capital is the most important aspect that is needed to start a bitcoin casino. Every business needs funds to make it firm. It's a great opportunity for those countries who are open to gambling business for it would be easier for them to create one and attract more players.
I understand where you are going. Beyond raising the capital for the business, experience is very much important. In fact, experience is more important that the money because without it, you won't get anything done meaningfully.
I have pretty good experience in this business. You can reach out to partner with me if you have what it takes in terms of finances.
April 14, 2019, 02:36:33 PM
April 14, 2019, 02:02:19 PM
It would be a big help for those who are aspiring to have their own gambling business. I think capital is the most important aspect that is needed to start a bitcoin casino. Every business needs funds to make it firm. It's a great opportunity for those countries who are open to gambling business for it would be easier for them to create one and attract more players.
April 14, 2019, 01:59:25 PM
@FIFA Wordcup, It take some good money to build a gambling company. I have added some more facts about the cost.
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
This should be added on the main post imho, so people who want to build a bitcoin casinos may know the estimation of how much money he need to spend for owning a casino.
One other thing, I think this topic is about casinos like sportsbet, fotunejack, and other casinos site where most of the games are from available gambling software providers. How if someone want to build a gambling sites like Stakes.com where the games are not from game providers? Do you have any ideas on how much someone need to spend to build such site?
It really cost a lot to build your software from scratch, not only in terms of the cash but the technical know-how, and the complex maintenance process. You are in-charge of the software updates, the security, bug fixes, feed licensing and maintenance. That's a lot of man power!
I will budget over a million dollars for a platform like Stakes.com just for a modest start. Don't forget that this site you mentioned has grown to a multi million dollars company who can now afford anything. It will be unreasonable for a startup to want to start at their level - you will be talking about 100s of millions budget.
April 14, 2019, 01:19:01 PM
Gotta save the list for future reference. This post is really helpful and all the requirements are absolutely available in all countries with a legality of bitcoin. A lot of requirement indeed but sure with a great returns. This also answers my question on how there are so many illegal gambling sites. This is because of the plenty factors to consider.
I don't know about it but there are many countries that are banning gambling from their country But maybe if it is online gambling then maybe they will have an edge over that ban, It will really take many turns to simply build not a good gambling site but a better one indeed, It would simply go to the test of time if they can really seek out any problems legally,
There are indeed many illegal gambling sites out there but not simply because they can not afford to make a software that will be secured to the public and a wide range variety of game to be display on the site and the cost it may take them but they really tend to just scam people because it is cost efficient for them,
April 14, 2019, 12:50:35 PM
@FIFA Wordcup, It take some good money to build a gambling company. I have added some more facts about the cost.
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
This should be added on the main post imho, so people who want to build a bitcoin casinos may know the estimation of how much money he need to spend for owning a casino.
One other thing, I think this topic is about casinos like sportsbet, fotunejack, and other casinos site where most of the games are from available gambling software providers. How if someone want to build a gambling sites like Stakes.com where the games are not from game providers? Do you have any ideas on how much someone need to spend to build such site?
Capital or Bankroll would just depend into its owner on how much he can store on.
April 14, 2019, 12:47:26 PM
Nice guide for those people have plan to create gambling site, and yes of course many people dreaming to create own gambling site the problem is how we can start it if have not enough capital for this business.
Always been the issue on where if you dont have any funds then you cant pursue out these kind of dreams of yours.Becoming a gambling site owner or making a business wont really be that simple where having just that capital alone or funds needed will already be a big challenge.
We have seen new sites and you can really compare which one do have the right funding and the one who are just like being built on scratch.
April 14, 2019, 12:35:21 PM
Very helpful guide op though it is a simplified version and it is a lot more complicated in reality. The primary problem that many new crypto casinos face is that they compete with successful and reliable websites which have been operating for ages.
People tend to not risk their investment in new casinos most of the time due to the risky nature of the crypto environment.
People tend to not risk their investment in new casinos most of the time due to the risky nature of the crypto environment.
True. Also what about the compliance? it is a really complicated process depending on the country. For example, there we can see the needed papers but not the process since he is offering the service.
But in a nutshell and in the simplified way i think that he showed it really good. He could try to make it shorter also, since a lot of potential customers might not read the whole thing. Remember that the attention span online is really brief.
April 14, 2019, 12:15:27 PM
@FIFA Wordcup, It take some good money to build a gambling company. I have added some more facts about the cost.
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
Curacao License cost about $19,000 for the sub-license which is perfectly okay for you
Good software vendor will charge you between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.
Premium Domain name will take $10,000 to $150,000 depending on the name. I can provide you really great names you can't find anywhere else.
Marketing and promoting will take around $100,000. Your budget may increase and the needs increases
This should be added on the main post imho, so people who want to build a bitcoin casinos may know the estimation of how much money he need to spend for owning a casino.
One other thing, I think this topic is about casinos like sportsbet, fotunejack, and other casinos site where most of the games are from available gambling software providers. How if someone want to build a gambling sites like Stakes.com where the games are not from game providers? Do you have any ideas on how much someone need to spend to build such site?
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