Topic: Is this safe to say this about casino platforms - page 7. (Read 887 times)
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.
Casinos should have a profitable business in the long run (if everything goes well) and after they make some profit, they will be able to pay the winners with losers money.
This doesn't mean they can launch their business without any bankroll. They must have some money for paying the winners unless they want to scam the players.
I do not understand at all how you can start such a business without a decent amount of money for the potential earnings of the players. If a casino can indeed have a fair mechanism for all games, which any decent casino should have, it is always possible that the influx of money lost to the players is at some point less than the money gained. Of course, in the long term, since the various commissions have yet to create such a "safety cushion", this problem must surely be solved.This doesn't mean they can launch their business without any bankroll. They must have some money for paying the winners unless they want to scam the players.
But in the early stage of the work, the casino cannot do without a lot of money, so to speak, of course.
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.
You have already been given some answers, I will simply add that you seem to have little knowledge of the subject. Someone who starts a casino with no bankroll of their own has an extremely high chance of going bankrupt. I don't know if you have ever seen a chart of a winning poker player, it is similar to the stock market charts, trending upwards but with ups and downs, with deep dips and some daily volatility. Casino winnings are similar but you have to have bankroll to withstand the dips and set betting limits to what you can't afford to pay if the customer wins. It is not uncommon for a casino to have sustained weeks of profits and then a whale comes along in one session and causes a big dip. If you don't have bankroll to withstand that, and more starting, you go bankrupt.
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.
They cannot operate like that for too long. They always have to have some bankroll of their own if they want to stay longer in this business. One good day for a gambler may send the casino into shambles, especially if those winners are high rollers. Also before operating, casinos must provide proof of solvency in order to make sure that they are not only operating in users' funds. If they can operate without providing these verifications, then everyone and their mothers can easily establish their own casinos without having any money at hand.
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.
A decent casino must have funds for them to operate, in the first place they cannot come out with a casino script and install a game provider's service if they don't have funds to operate, it's a waste of money and effort if they just create a casino without funds to pay their winners, they should have funds for operation if they cannot keep paying their players, then that's the end of the line for them, even if they have edge over gamblers they should have ready funds in case, there's a guy who hit a big jackpot, there could be casinos that's doing this but eventually, they will be exposed.
every casino that wants to run smoothly of course they have to have a bankroll. at least it has the capability when any player hits the jackpot.
even though a casino can be run with quite a small amount of capital, I am sure they will find it difficult to manage and develop a casino.
A casino is a place where people spend money. as you say, more to lose and less to win. that may be true, but when a business is run, it must have enough funds to do business in the long term.
even though a casino can be run with quite a small amount of capital, I am sure they will find it difficult to manage and develop a casino.
A casino is a place where people spend money. as you say, more to lose and less to win. that may be true, but when a business is run, it must have enough funds to do business in the long term.
I highly believe that most (if not all) businesses doing this kind of scheme are highly likely to be frauds.
No company can start the business empty handed when starting a casino. Yes it is true that when a user loses in gambling that amount goes to the casino fund and when a user wins in gambling then he is rewarded from the casino fund. It works like bank deposit and withdrawal. Here the bank acts as a medium of transaction. The same casino platform acts as a medium for people to gamble and from here they earn commission. Here, when starting a bank, for example, hundreds of crores of rupees have to be deposited with the central bank. Likewise casino sites keep their own fund liquidity when starting their business
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.
The reputable ones the ones who already know that they are going to be people favorites usually have already a minimum of 1000-10000 Bitcoins in order to pay the whales as no one guarantees them that the house edge will start benefiting them right away,that is not the case,the house edge needs a lot of spins before starts to kick in usually in slot machines between 1-100 million spins in that specific slot.
Based on this the big reputable casinos that we see today and are our favorites have started out already "maxed" out to handle even whales which are really big winners,all other casinos who haven't done so you will see most probably some sort of scam accusation for them when someone made a huge win.
Every gambling casino that would like to push their business must know that they have a pool of funds for the possible winnings of the players we know that not all the time players wins the game so winners are just the lucky one who has a got good jackpot to lose in their number of players who losses a lot, that's why how they earn a lot of money better make sure that you know how to handle your players to play more and engage with your platform.
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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.
Casino doesn’t work like that because they are gambling too with their bankroll. There’s no way to operate using users only fund because they have fixed operating expenses and also the chance that a user will win a jackpot. They just have fixed profit coming from the house edge but it doesn’t mean they can have sure profit. Some casino becomes bankrupt by having small bankroll while they have high jackpot prize which their bankroll is not sufficient.
Also players usually withdraw their funds. They can’t guarantee that they will have users fund all the time to cover some player win when the casino has a bad luck. Checking on the high roller winning history is the best proof that they have money to pay the winners because all those roller will surely make a complain here or in trial court if they are not allowing those huge withdrawals. Casino has a gambling license too which means they have money for operating the casino. We are not on the old era which casino has low bankroll and always running away when some players hit huge jackpot.
Owning casino is not for short term, it is for long term I am not sure about the rigged casino but the legitimate casino has a house edge which in long term is profitable for the house. It is impossible to open a gambling business with zero fund/bankroll to pay the winners. I am not sure how much was it but I think most of the casino have really huge bankroll, just imagine the bonuses and jackpots they are offering.
If they have small bankroll or no bankroll at all, there is no way that they can run their business for a month assuming they have good number of players.
If they have small bankroll or no bankroll at all, there is no way that they can run their business for a month assuming they have good number of players.
Casinos are just like every other business venture which is created to make profit. For a start, they must have a reserve, capital or otherwise so as to meet up with the running cost first which involves payment of winners, workers and every other aspect of payments involved. I know there MUST be losses from players which will come in as profit to the casino likewise the casino too would pay winner's for their Victory so everything can go well for them. Of lately, there have been series of of complaints from gamblers and bettors with respect to account banning, suspension etc all these point out to the fact that casinos are really running short of funds which makes then to start acting this funny.
With this unfolding events, I am of the opinion that casinos starts showing their backup funds before getting license to operate. The casinos also should as a matter of fact, show their monthly balance sheet for further verification which is required.
With this unfolding events, I am of the opinion that casinos starts showing their backup funds before getting license to operate. The casinos also should as a matter of fact, show their monthly balance sheet for further verification which is required.
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.
I don't think they'll get a license if they are just using users fund only, they should have liquidity if they want to open up a casino. I'm guessing these are the prerequisites to casinos that are licensed. It should be a red flag if they are just using players fund just to operate because if someone makes a huge win, they'll surely scam their users since they can't be able to pay them.
You cannot run a casino without a Bankroll ... and you cannot start a new casino without initial funding from your own pocket. The gamblers lose money and they win money, but the house edge is given to the casino as income.
So they get a fixed income... no matter what happens... but they can change the RTP on their own games ... or ask the 3rd party Slot provider to change the RTP, if they want to get more income.
Their income is not pure profit, they have to pay a lot of money for marketing and future development and also labor cost and expenses that are linked to their IT equipment and security.
So they get a fixed income... no matter what happens... but they can change the RTP on their own games ... or ask the 3rd party Slot provider to change the RTP, if they want to get more income.
Their income is not pure profit, they have to pay a lot of money for marketing and future development and also labor cost and expenses that are linked to their IT equipment and security.
Every casino owner must have prepared everything to be able to run his business, including preparing his capital to pay the winners. The problem is that some casinos don't pay the winners even if the winners provide proof that they weren't cheating. And it is casinos like this that we should avoid and not think that they will become famous one day. Indeed, there is no evidence to say that they have the money to pay the winners, but if they can really pay the winners and so far, they have not made false promises, it means that we can make the casino a place to play gambling.
....I couldn't ask him or her if a casino can start business with zero fund at hand,
It would be worrisome if they only use player's deposits and losses to pay for withdrawal requests. I would say the owners chip in first as part of initial capital just like how a regular business is operated. They can later use loser's money to pay for the winners.It would be nice if they could sign from a wallet showing their reserves but that's not enough to say they are solvent since you'll never know if they had some large debts that they need to pay also.
This reminds me again of the proof of funds that some centralized exchanges tried to show after the FTX debacle.
Casinos should have a profitable business in the long run (if everything goes well) and after they make some profit, they will be able to pay the winners with losers money.
This doesn't mean they can launch their business without any bankroll. They must have some money for paying the winners unless they want to scam the players.
This doesn't mean they can launch their business without any bankroll. They must have some money for paying the winners unless they want to scam the players.
If a casino has proof of solvency, that's a decent indication of the amount of funds they have on hand to pay out players at any moment in time, in theory.
This is only possible with crypto.
This is only possible with crypto.
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