Topic: New Bitcoin Gambling Website Investors Needed (Read 3155 times)

What Excel sheet? Do you mean the investor list sheet? If so that's because no one has invested.

Excel sheet looks empty?

Okay I suppose I can just do it like that I just figured the investors would like it better on counterparty because it seems like a lot of people are using it now to do like what I'm doing.

Just my opinion: You're making things more complicated than they should be. But I've never used counterparty (and have no intention of trying it) so I really don't know. Get your escrow and do something like an ICO (look at the altcoins section to get an idea.)

By the way I had already created a token on the counterparty wallet to offer to the investors as a share in the business with each token equaling 0.001% equity in the business with a total of 100,000 shares. The tokens name is A17405905917904734000 which I tried to give it a custom name but for some reason it wouldn't let me so I had to go with a random number name in order to make it. So if you use the counterparty wallet and you are interested in investing in equity in the business then please copy and past that long number with the letter A at the beginning into the section of the market exchange that says "Select another pair" and then select XCP as the currency to find it. I have already sent a sell order of 1,000 tokens or shares at a price of 0.5 XCP per share and if I can get any investments I will turn the XCP into Bitcoin and USD in order to do what needs to be done to buy the casino software and do the advertising and everything. But at the moment it is processing which takes time so if you go look at the token or share soon after I post this then it might not be there right away so please give it some time to process.

Hi, I just wanted to let you all know that I will be posting in the lending section of the forums to ask for a loan that will basically be like I had stated earlier where I will give up 100% of the profits I receive from the casino to go towards paying back the investors and they will also receive some equity in the casino. So they would be getting their money back plus interest and equity in the casino. And if I cannot pay back the loan for some reason I will be giving up the casino as the collateral. The reason I have decided to do this is because from what I can tell no one that has commented or seen this post will invest so I have to try another way to get the money to do this. But if you guys are actually considering investing please let me know because from what I can tell none of you are interested in investing but instead just trying to give me advice and stuff which i am fine with that because I need advice but at the same time the advice will be worthless if I cant get the money to start the casino.

Hi, I am just letting everyone know that i have created a token on the counterparty wallet to represent the stock in the casino and once I get a trusted escrow I will issue out the stock to the investors once they send the money to the escrow. I have issued 100,000 tokens which will represent 100,000 shares in the company to be issued to the investors at 0.001 Bitcoin per share. Also I do want to point out that even though the shares are divisible it would be best that if you invest to invest in whole shares so it can figured out how many shares you should receive exactly because you might get more or less depending on how close the calculator can get to the actual amount so I don't want anyone to get cheated out of any. So please if you invest please invest in whole shares and that will also make it easier to give out the share of the profits to the share holders. Thank you.

This thread is a "not so often" updated list:
https://bitcointalksearch.org/topic/bitcointalk-escrows-trade-safely-855778

There is an even older thread not updated:
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

And, I think you said you needed about a hundred BTC:
http://blockchain.info/address/1Dabso5tsVpM9oZKxu8h4WYUUxjkwxC25Q


So, good luck, have fun, don't gamble what you can't afford to lose.

Also I just contacted one of the escrows on the list of escrows to see if he/she would be willing to escrow for me so I will let you guys know his/her response once I get one.

I'm sorry I just looked at their website again and it says it CAN be made provably fair it doesn't say it already is provably fair. But either way if I can do this casino its going to be provably fair because I want this to be 100% legit.

Softswiss isn't provably fair, it's verified by a third party. Players can't verify rolls.

Thank you for the idea on the escrow services which I already had that in mind before but I was afraid that the escrow might try to steal the money due to it being a pretty decent amount or not being reliable enough to send the money to the people who need to be paid when he/she should. Also according to Softwiss their games are provable fair and that's another reason why I wanted to go with them because I don't know if the custom game developer can do provably fair for the same price so it would be all around better to use Softswiss in my opinion.

There's this X factor that you can't really confirm, or maybe even more than one variable that you have no control over, plus any number of things that can go wrong, or you simply won't have the traffic or volume that you need. What I am saying is that there is something out there that can make or break your venture.

Business is a gamble. Good business people have a decent business plan, yet they can still fail. Gambling websites are more of a gamble especially in this bitcoin world. You need players to trust your site and you. And since you are accepting bitcoin you'd need to either have very good explanations of how the game operates or some formula that is easily verifiable, such as a provably fair method.

If you go with the softswiss games, although I am NOT familiar with any of their games, I am willing to bet NONE of them are "provably fair", and with that, you are not going to get ANY players from this forum. You'll get them where all the other casinos are getting them, somewhere out there, poker forums, or marketing and advertising on other websites.

As for risk versus reward, you already know that (or you should). Low risk, low reward. High risk, high reward.

If you're asking advice about how to operate a "normal" non-bitcoin casino running on softswiss software or platform, you're in the wrong forum. Merely accepting bitcoin does not make your casino a "bitcoin" casino that isn't considered "traditional".

Any game that involves dice, decks of cards, or coin flips MUST be provably fair. Or as close to it as possible.


As for your "set aside some money", that's where you can contract with one of many bitcoin escrow "agents" here. There's a handy list in the "Service Discussion" subforum.

Bitcoin Forum > Economy > Marketplace > Service Discussion  > Bitcointalk Escrows - Trade Safely!

What will happen is your investors send money to the escrow and he holds this money and dispenses it as the investors wish or according to some form of consensus between them and you, and payment goes directly to whoever needs to be paid. GPG comes in handy here, as well as some basic knowledge of how bitcoin works.

You'll want one who is trusted, has handled more money than you are asking him to hold, either collectively or at any given time, and has some experience with gambling, both as a player and as an operator. Escrows do not guarantee that businesses or equipment will be profitable, they only guarantee that the funds go to where they should go, and buyers and sellers (in the case of trading) are satisfied with their transactions.

See, if the money is not in escrow, then what is to stop an investor from pulling out? Unless it is allowed in the terms of investment, you don't really want 100 BTC being funded, and then a few of them decide they don't like it anymore and your funds drop to 10 BTC. (Or below what you need to even start it out.) It's also a risk they have to be willing to take.


P.S. The last guy on that list will charge you a 5% fee, that list is not updated often.

I also just came up with an idea to help ease the investors worry of me just taking the money and running. Instead of me asking for all of the money I need upfront I could just ask for it when needed like for example when the software is ready to be paid for I can get it then and then when I need some money for advertising or promotions I can get some of it then and then if I need some money for bankroll I can get it then. So that way its done in steps and doesn't require the investors to put it all upfront and you will also get to see that I am wanting to do this and I wont take the money and run and you will be able to see the results of the software and stuff before having to put in anymore money. But the only problem with this that I may face is if one of the investors decides not to invest after I already purchased the software and then I would be stuck trying to figure out how I would get the money to pay for the software. But if we can all come to an agreement where the investors already have the money set aside and they are willing to keep it set aside until needed and not spend it on something else then we might be able to do the investment in this way.

Also I just wanted to let everyone know that I have been speaking with different developers to get price quotes and I even spoke with a representative from softswiss about their software and I have come to the conclusion that the best one to go with would more than likely be softswiss due to it having 350 games, a custom website, marketing tools, and all of the Bitcoin processing already made up. And it would be a lot cheaper per game to go with softswiss than have the games custom made which I dont see how much custom or better they can be made than the softswiss. The only problem is that the games are not custom and are basically the same for all of the casinos that use this company but the websites are custom. The developers were quoting roughly $4,000 per game when I can get the whole softswiss platform starting at £12,000. But if you guys are willing to invest and would rather have the completely custom games then I would go for that but I just want to put all the options out there for this.

Hi, I don't exactly understand what your saying about "even if I have everything going for me I still shouldn't do the idea" because if everything is working out for me on this idea then why wouldn't I want to do it?

You know, I was about to do just the exact same thing as the OP. But I'm taking my time thinking things through. What I'm doing right now is gauging interest over time, and this time is several months.

For the OP, I have the advantage over a couple of the points mentioned by others, the ones said by MartinL specifically, but I'm still not pushing through with the idea until I have more bases covered. (I dare say I've got all of those bullet points already.)

So even if you have everything going for you, you still may not want to do the idea. At the very least, be willing to refund the investors, and put in some of your own money into it.

If you want to be "General Manager" of a bitcoin casino, you are probably better of applying to be "employed" by one.

Good luck in your venture.

To clarify: I am not suggesting that tobeyrowe should work for no equity. My point is that an investor currently has no reason to give him equity and therefore to invest at all.

That being said I'm very pessimistic about him finding a willing investor under the proposed terms–business plan or not. As it stands right now I just don't see it happening.

To chime in on this myself, I disagree with MartinL's view of the situation. If you can prove that you can handle the business (business plan is the largest part of this) and can work with investors to negate the fear of "running off," I absolutely agree that you should be getting equity. There's a lot of value in being a silent investor and allowing someone else (knowledgeable) to handle the business side of things. If you work in the business, you definitely need compensated for doing so, and equity is the most beneficial for you because it directly correlates your earnings with your ability and success.

Okay first off I cant really change your mind about the risk of me running of with the money because like you said there isn't anything I can do to change your mind about it. But as for the equity its not a bad deal I mean I would be the one running the business, helping customers, dealing with the developer, coming up with the ideas for the business, and many other things so why would I not deserve equity including the fact that it would be my business that I'm the one starting up in the first place. So I don't understand where you get off thinking that I don't deserve any equity in a business that I am creating and running. Yes I understand the investors will be putting up the money but that's with all companies that have investors but the founder still has equity because he/she would be the one building the business and running it every day and the investors I understand would be taking a risk but once the business gets going then they just sit back and watch their investment make returns every month for as long as they hold on to the shares of the company and the founder would be working every day to make sure those investors can watch their investment grow and make returns. Without the founder there wouldn't even be a business for them to invest in and make money and they don't even have to do anything labor wise all they have to do is like I said put up the initial amount of money and they get to see their money grow from there. So please tell me one instance where a founder of a company gave up all of his equity in the business to the investors because the investors were the ones who put up the money to let the business get started. If you can show me that then I will rethink how I am doing this but it just doesn't make any sense to me why I or any business owner would go through the trouble of starting a business and running it without being compensated.