Is this safe to say this about casino platforms - page 6.

Dunamisx

hero member

Activity: 952

Merit: 555

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is it safe to say that casino platforms is running their business with users find only? I read somewhere that they pay winners with losers money, I couldn't ask him or her if a casino can start business with zero fund at hand, I know that most of them wired their system to favour them more ( lose more and win less ) , if not they will run out of business fast I belief, what do you think about this? Was I wrong about this? Come to think of this, there is no prove that they have some money to pay winners.

There's nothing that's bot possible but I don't think that's the real idea behind starting a casino else everyone will or can easily begin one, they also have a starting capital demands whereby they need more money to fund the operational cost and the start ups, also what about if the five first gamblers to start using their casinos make a win with their first attempt, aren't they not going to get paid by the casino? the casino have already set aside some funds assigned for such purpose already.

RILWAN

member

Activity: 742

Merit: 12

Global peace initiative

The casino is a business and every business is profits oriented, but that doesn't mean they rely solely on loser funds to run the business at least there will have a start-up capital that can cover their expenses for a good period if the business goes against them e.g a player hitting a jackpot.

dezoel

legendary

Activity: 2044

Merit: 1075

Leading Crypto Sports Betting & Casino Platform

Quote from: panjul07 on January 26, 2023, 09:31:50 AM

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is it safe to say that casino platforms is running their business with users find only? I read somewhere that they pay winners with losers money, I couldn't ask him or her if a casino can start business with zero fund at hand, I know that most of them wired their system to favour them more ( lose more and win less ) , if not they will run out of business fast I belief, what do you think about this? Was I wrong about this? Come to think of this, there is no prove that they have some money to pay winners.

There is also no proof that what you read somewhere out there is true.
Proof of funds/solvency was popular in the past where most casinos provide a signed message of their wallet where they hold their funds.
It is no longer popular anymore, now it is easier (at least for me) to know which casinos is reliable enough to play without worrying that they will not pay winners because they dont have funds.

Even if there is no proof, that will still be believable because casino do always wins right? I know there are some who wins but the majority of them are still a loser and this money will be too much to pay those who win.

The rest of it will just go the casino but they can't pocket it all of course because they also pay to maintain their casino. Indeed proof of funds for casino was once a thing but did you know that after the FTX incident, many people are talking about this again? It helps people to be confident when they see the platform's available funds. Let's just hope that proof of funds will make a comeback again, in order to reduce the scam casinos around.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: so98nn on January 26, 2023, 01:57:09 PM

It is game of house edge. Some of then provide more some of them provide less and win accordingly. Moreover, they are never in loss due to the odds they are getting from various games site wide. No one would know the secretes inside but in the casino games like roulette, mystery boxes, crap dice, lightening dice, and crash games; things could go north to south any movement! Making more than enough money to the casino and survive the whole thing. It’s business, it’s well planned and regulated.

Despite of their house edge, casinos still need to have a certain amount of capital to qualify for regulations and have a license, it will be hard if they have no capital at all because paying the jackpot will not be possible especially if they are still new in the gambling industry. The house will always win, this is a business and they have to make more money than to lose to the gamblers, this is normal on every casinos.

so98nn

hero member

Activity: 2114

Merit: 603

It is game of house edge. Some of then provide more some of them provide less and win accordingly. Moreover, they are never in loss due to the odds they are getting from various games site wide. No one would know the secretes inside but in the casino games like roulette, mystery boxes, crap dice, lightening dice, and crash games; things could go north to south any movement! Making more than enough money to the casino and survive the whole thing. It’s business, it’s well planned and regulated.

Ojima-ojo

hero member

Activity: 910

Merit: 507

Quote from: decodx on January 26, 2023, 01:07:23 PM

It's a known fact that casinos make money by having a built-in advantage over players, called the "house edge." This means that, over time, the casino will usually make more money than it pays out in winnings. But, it's not true that casinos pay winners with losers' money.
Most casinos have their investors who supply the money for the casino to operate. They're usually wealthy folks who believe they can make a profit by investing in a casino. The same goes for online casinos, which are also businesses that need investors who supply them with funds they can use to run their operations.

Bankroll preceds house edge, because house edge is only a manifestation of game processes and how the result are determines, mean while without a bankroll the casino can not function or operates due to capital in form of proof of balance just like we can see in all the other financial projects that deals on deposits, withdrawal and transfer of funds across chains there must be a balanced volume that exceeds the max bet winning to sustain casino operations.

But then it is a known fact that casinos and all other platforms run the operations on the revenue they gegeneraterom the business and for casinos, the losing money belongs to the house.

The more reason why the system is set to favour the house always.

danadc

sr. member

Activity: 1092

Merit: 342

Hire Bitcointalk Camp. Manager @ r7promotions.com

I don't think something like this is true, I don't know if there is evidence that any casinos have done something like this, but if they have done it, it would be like deceiving themselves, because in every casino what is needed is that they have people who are real, and that they are people who like games, those who like games do not skimp on spending because they like it and ensure their fun, if a casino makes misleading advertising, people are not stupid, they will realize somehow, if by the On the contrary, they do things well, I don't think it will be very difficult for them to be able to do things transparently, in this type of business you have to know how to compete.

decodx

hero member

Activity: 1456

Merit: 940

🇺🇦 Glory to Ukraine!

It's a known fact that casinos make money by having a built-in advantage over players, called the "house edge." This means that, over time, the casino will usually make more money than it pays out in winnings. But, it's not true that casinos pay winners with losers' money.
Most casinos have their investors who supply the money for the casino to operate. They're usually wealthy folks who believe they can make a profit by investing in a casino. The same goes for online casinos, which are also businesses that need investors who supply them with funds they can use to run their operations.

leonair

sr. member

Activity: 1400

Merit: 420

A casino platform offers bid for betting. If you win then you are awarded according to the conditions. But if you lose then they take your money. In this case, if they can complete the payment of winning with loss money, then they do not have to spend money from their own funds. But in this case, if the amount of winning money is more than the loss money of the users, then in that case the money has to be spent from the casino site's own funds. In this case scam casino sites fail to give winning rewards. And real sites spend money from their own funds but don't let their reputations get ruined

famososMuertos

legendary

Activity: 1918

Merit: 3047

LE ☮︎ Halving es la purga

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is...//...:::.

Well..!

As far as your ignorance fits, so, maybe You have a valid question, then, there is advice from all the previous posts, but I thought that if you started with that question un the OP, did you understand something? Of all suggestions.

Something additional but in a tone of sarcasm*, you have a good partner out there who wanted to set up a street casino, another user in another post.(end*)

On the other hand, and you may have badly focused ideas but that does not mean that they lose the north in the desire, inform yourself well and comply with your wishes.

ryzaadit

legendary

Activity: 2660

Merit: 1261

No, you can't start a casino with "zero" funds.

There need some at-least minimum liquidity based on the regulation, they can start with small or big at least they need to make sure the liquidity is enough. That's why most casino must have maximum amount winning they can set-up depends on the bankroll fund they have.

If new casino don't have this, sometime a big redflag for us. My biggest reading story in this forum, some activity transaction withdraw 330 BTC on Cloudbet but is also have some problem against user & casino. They need to solve it with the help of this forum for almost 7 month.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Quote from: cabron on January 26, 2023, 09:51:03 AM

No casinos will succeed right from the start with no bankroll at hand. Eventually, there will be some high rollers that will try thier platform and if he wins, they'd find a way not to pay.

Casinos are a profitable business they say, it is, however, a mountain to climb if there are no funds from the beginning. I guess this is the reason for the wager limits.

Correct. Some people think it's easy and cheap to run a virtual casino, as they imagine you just need to acquire a domain, set your website up and configure the games to work. Then, they just need to sit down and wait the money flux come in...

However, it's a very expensive business to start, which demands large investment, as at anytime (during the launchment of the platform maybe) a player can hit a jackpot prize which must be immediately paid to the gambler, if he wishes to cashout. If the house doesn't have that money, it's already going to be a failure since first day, suffering heavily accusations of being a scammer casino by the gambling community.

rahmad2nd

legendary

Activity: 2548

Merit: 1009

Leading Crypto Sports Betting & Casino Platform

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is it safe to say that casino platforms is running their business with users find only? I read somewhere that they pay winners with losers money, I couldn't ask him or her if a casino can start business with zero fund at hand, I know that most of them wired their system to favour them more ( lose more and win less ) , if not they will run out of business fast I belief, what do you think about this? Was I wrong about this? Come to think of this, there is no prove that they have some money to pay winners.

To be honest, I don't have a proper answer to your question.

but I just want to underline what you said, regarding casinos starting a business with zero funds at hand. don't get me wrong, it's impossible. I don't know what the basic mechanism is, but at least if you want to build an online casino you need quite large financial logistics. why, because to build a casino you need a big bankroll. first of all, you need funds to build a site and that costs money. whether it's domains, hosting, scripts, and all kinds of things. plus, you need a license so that the casino you build becomes a legal casino. you know, at least you need big funds just for a license. well, I'm sure, now you have some conclusions or descriptions related to your question.

Odusko

hero member

Activity: 1008

Merit: 520

Leading Crypto Sports Betting & Casino Platform

Casino is just like bank and exchanges that need a bankroll to operate and in some cases before a casino is licensed there must be evidence of proof of funds and if that is not met their license can be denied.
So is not entirely that the casino is running their business with losers' money because in as much as there are losers there are also winners, so if the casino lacks the liquidity to sustain both directions of games result, the casino will run out of business without liquidity.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is it safe to say that casino platforms is running their business with users find only? I read somewhere that they pay winners with losers money, I couldn't ask him or her if a casino can start business with zero fund at hand, I know that most of them wired their system to favour them more ( lose more and win less ) , if not they will run out of business fast I belief, what do you think about this? Was I wrong about this? Come to think of this, there is no prove that they have some money to pay winners.

More people lose than their winning which solves the question that you were asking yes they are paying the winners from losers money and also taking a lot of money into their bags as well. But you can't start with zero and it needs heavy investment to start rolling out the casino business especially for luck based games.

dimonstration

hero member

Activity: 2716

Merit: 698

Dimon69

Quote from: ethereumhunter on January 26, 2023, 10:58:36 AM

The casino will not say whether they have money or funds to pay the winners because that is the casino's secret. We as gamblers, can only hope that the casino can pay us winning money so we won't feel disappointed. And to avoid things that we don't want, we have to be able to find casinos that are really popular and have been proven to be able to pay out winning winnings even though the numbers are very large. So we won't have an experience that disappoints us one day and can play in peace.

Casino often share many jackpot win from different user on their social media as proof that they have huge bank roll. Trusted casino like Duelbits has this kind of news to give peace of mind to all their players that they have sufficient bankroll to pay huge amount. We don’t need exactly a proof of funds if casino has proof that they are paying high roller players with their jackpot prize. Also their massive promotion like Christmas giveaways and others is enough to know that they have a huge bankroll aside from the players fund in the casino.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

The casino will not say whether they have money or funds to pay the winners because that is the casino's secret. We as gamblers, can only hope that the casino can pay us winning money so we won't feel disappointed. And to avoid things that we don't want, we have to be able to find casinos that are really popular and have been proven to be able to pay out winning winnings even though the numbers are very large. So we won't have an experience that disappoints us one day and can play in peace.

acroman08

legendary

Activity: 2436

Merit: 1104

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

Is it safe to say that casino platforms is running their business with users find only? I read somewhere that they pay winners with losers money, I couldn't ask him or her if a casino can start business with zero fund at hand, I know that most of them wired their system to favour them more ( lose more and win less ) , if not they will run out of business fast I belief, what do you think about this? Was I wrong about this? Come to think of this, there is no prove that they have some money to pay winners.

they do but that is after they have made a profit from their gamblers, a casino(may it be online or not) cannot and should not start without a bankroll, if they don't have a bankroll to pay their gamblers when they launched their gambling site, then they are basically a scam gambling site since they won't be able to pay their gambler's winnings.

YOSHIE

legendary

Activity: 2128

Merit: 1775

Quote from: KiaKia on January 26, 2023, 06:15:58 AM

what do you think about this?

Developing, creating, running an online casino business, relying on money from users who lose bets and hoping for profits from users, Without initial capital to run an online casino business, you could say a ridiculous platform-based online casino.

Such casino business is not safe, they can go out of business in a blink of an eye.

you need to know How Much Does It Cost To Start an Online Casino?, instead of starting without funding.

Quote

Keep in mind that before you ever break even, you will have to pay your staff, prize money and other running costs. With all these prices in mind, opening an online casino will cost you about $1.5 to $2 million. Venture capitalist firms might be willing to fund you.

Now you understand, starting an online casino business without capital, the casino, is a bogus business, not safe to use.

coin-investor

hero member

Activity: 2996

Merit: 598

Leading Crypto Sports Betting & Casino Platform

They cannot launch without a bankroll and just wait for gamblers to lose before they can pay their winners, I don't think any casino can sustain that those who do this have the intention to scam gamblers after they launch their casino, I've seen one thread asking for proof of funds which is an ideal for a new casino to gain the trust of the gambling community, but casinos will not do this because it will be a battle of proof of funds to gain more players.
The worst that can happen to a new casino is to have winners and they cannot keep up because of lack of funds, they will be reported and will eventually lose players.

Topic: Is this safe to say this about casino platforms - page 6. (Read 887 times)