I believe, as well placed by @buwaytress, that the big problem is custody. As transparent as it may be, you can still disappear with the all BTC that we send to you. Usually, Casinos are companies in tax havens with a fragile justice and laws that favor much more the casino than to the players.
So the great possibility of attracting investors and forming a large bankroll is custody. Find a way to offer security that goes beyond legal or the need to trust people who run the casino.
Something like an escrow or smart contract that always ensures that profit and investment will return to investors.
Topic: Investing in Casino Bankroll - What's important for you? (Read 242 times)
If you can create a system that people can trust in then you have gold in your hand. Human beings are looking for trust and integrity, most people refuse to invest into projects and gambling or dice sites not because the sites are not well developed but the developers and sites owners are unable to build integrity and trust in the whole process. I invested in Bustadince because the founder has a great trust and I have find out that before thinking of investing or even know what is backrolling. Focus on a dice site that people can easily deposit and withdraw and you will see many people investing into your projects.
I wonder in fact if a trustless system for Bitcoin investments in a casino bankroll might be possible.
Exchanges are starting to make non-custodial platforms. Maybe the same can happen for casinos eventually. You invest in a bankroll, amounts are locked and only unlockable (divestable) by you with private keys. The "easiest" so far I've seen is just by creating semi-permanent lines on marketplaces like Fairlay (you make your own dice markets, and people bet against you) but that's still a centralised marketplace.
Quite a few dice sites now doing well and I'm invested with a few. Transparency and trust, easy enough to understand the concept but fact is, all my Bitcoin investments in casino bankrolls don't really have full transparency (or at least, there's no way for me to verify the performance) and they all require me to fully trust the casino. It has worked great so far but any potential exit scam and I'm without recourse. End of the day, all my funds are risked, but I choose to risk it with the ones I feel have been around the longest, and with those whose owners I've at least had some dealings with.
I'm fully aware that that only gives ME an individual sense of confidence in them!
If you can create a system that people can trust in then you have gold in your hand. Human beings are looking for trust and integrity, most people refuse to invest into projects and gambling or dice sites not because the sites are not well developed but the developers and sites owners are unable to build integrity and trust in the whole process. I invested in Bustadince because the founder has a great trust and I have find out that before thinking of investing or even know what is backrolling. Focus on a dice site that people can easily deposit and withdraw and you will see many people investing into your projects.
That it seems trustworthy to me. So I wouldn't invest in any new casino without knowing the owner very well.
The other factor is obviously expected returns ((wagered*edge*what investors keep of that)/bankroll). If they are too low, I need to be extremely sure that the casino owner won't run away with my money. This is the case for most casinos, returns are quite low to justify investing in them. Only Bustabit has good enough expected returns.
The other factor is obviously expected returns ((wagered*edge*what investors keep of that)/bankroll). If they are too low, I need to be extremely sure that the casino owner won't run away with my money. This is the case for most casinos, returns are quite low to justify investing in them. Only Bustabit has good enough expected returns.
^ Hands down on whats being said above which Transparency would be mainly important and also on how much would be the rate would be possible earned if you are on the house
but first before minding out this thing it is better to think off on how you would make your gambling site to be convincing to potential investors because
offering good rates would be nothing if no one would able to trust you up.
but first before minding out this thing it is better to think off on how you would make your gambling site to be convincing to potential investors because
offering good rates would be nothing if no one would able to trust you up.
Transparency.
Hi,
i planned to create a bankroll investment option in my upcoming crypto casino (it all starts with DICE).
I know some big sites using this function and imo it's pretty important.
Now everything i want to know is what options, numbers and organisation U think is important in this part!
Where you invested in the past and why there and not anywhere else?
Let me know what's your opinions!
thx
Jump to: