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Topic: Should I invest in bitcoin casinos? - page 52. (Read 30357 times)

legendary
Activity: 2660
Merit: 1141
April 12, 2016, 01:13:55 AM
#75
I have invest in bitvest and money pot and so far i mange to gain profit and i only invest 10$ worth of bitcoin just to try how investing in casino works.
Then how much usually you earn from your investment? I am bit interested to invest in some bitcoin casino since it doesnt need much money instead of making the online casino myself.
legendary
Activity: 1540
Merit: 1016
April 12, 2016, 12:18:52 AM
#74
I'm also having the same doubt.
But I guess with $3000, we can not start a new gambling website.

$3000 is less than 8 bitcoins and if you are gonna start a common gambling site with 1% house edge that would means the max win would be less than 0.08 btc which definitely will not attract most of the gambler however with 8 bitcoins you could be supporting few percentage of a gambling sites bankroll which means that it is a better option to invest rather than making your own casino

You could start your own gambling site with 8 bitcoins if you use the moneypot API; using moneypot means you can use their bankroll, so you won't have to fund your own bankroll. However, you do have to share your profits with moneypot owners and their investors. It's good for people who don't have a huge capital to start off.

Starting with moneypot has its own limitation, there are some games that cant be implemented by using moneypot's api such as blackjack . With only 8 btc however you wont be able to create a casino that stand out among all those moneypot apps and eve  if your site did stand out, there is no guarantee that there will be many players
full member
Activity: 364
Merit: 127
April 12, 2016, 12:05:00 AM
#73
I have invest in bitvest and money pot and so far i mange to gain profit and i only invest 10$ worth of bitcoin just to try how investing in casino works.
legendary
Activity: 1064
Merit: 1000
April 11, 2016, 10:37:56 PM
#72
I'm also having the same doubt.
But I guess with $3000, we can not start a new gambling website.

$3000 is less than 8 bitcoins and if you are gonna start a common gambling site with 1% house edge that would means the max win would be less than 0.08 btc which definitely will not attract most of the gambler however with 8 bitcoins you could be supporting few percentage of a gambling sites bankroll which means that it is a better option to invest rather than making your own casino

You could start your own gambling site with 8 bitcoins if you use the moneypot API; using moneypot means you can use their bankroll, so you won't have to fund your own bankroll. However, you do have to share your profits with moneypot owners and their investors. It's good for people who don't have a huge capital to start off.
legendary
Activity: 1540
Merit: 1016
April 11, 2016, 10:27:47 PM
#71
I'm also having the same doubt.
But I guess with $3000, we can not start a new gambling website.

$3000 is less than 8 bitcoins and if you are gonna start a common gambling site with 1% house edge that would means the max win would be less than 0.08 btc which definitely will not attract most of the gambler however with 8 bitcoins you could be supporting few percentage of a gambling sites bankroll which means that it is a better option to invest rather than making your own casino
legendary
Activity: 2758
Merit: 1004
Buzz App - Spin wheel, farm rewards
April 11, 2016, 10:20:16 PM
#70
I invested over 15 Bitcoin on satoshidice.com and they won't help me divest. stay away from them.
you have to be careful buddy, so many sites that promise huge profits but instead lead to scams. you should seek out information in that regard, and I think this post is perfect for finding information about it. I myself was looking for
hero member
Activity: 1148
Merit: 527
April 11, 2016, 10:05:23 PM
#69
When you say "invest" in a casino, do you mean to open up your own casino or to gamble?
Because gambling is NOT investing. In fact, you will most probably lose your money while gambling. So please be careful!
I'm also having the same doubt.
But I guess with $3000, we can not start a new gambling website. Then you must be planning for investing into gambling house for profit-sharing or planning to gamble with your money as a big bankroll. I believe gambling with big bankroll and small bet amount might be a good idea still it is not recommended.
member
Activity: 98
Merit: 10
April 11, 2016, 08:29:16 PM
#68
I invested over 15 Bitcoin on satoshidice.com and they won't help me divest. stay away from them.
member
Activity: 114
Merit: 10
April 11, 2016, 05:35:39 PM
#67
When you say "invest" in a casino, do you mean to open up your own casino or to gamble?
Because gambling is NOT investing. In fact, you will most probably lose your money while gambling. So please be careful!
To invest in a casino,  you provide the house btc funds for punters to bet against . Thus you always have the house edge minus a fee (usually 10%). The downside are... many sites get hacked,  or have flaws in the software,  many owners shut site without returning Bitcoins. So to make this profitable you need to invest in a site that makes a lot of profit as more than half of all sites have historically returned 0 to investors.  So if the site doesn't have the potential of making 10+% per month I am not interested.
full member
Activity: 182
Merit: 250
April 11, 2016, 04:25:26 PM
#66
When you say "invest" in a casino, do you mean to open up your own casino or to gamble?
Because gambling is NOT investing. In fact, you will most probably lose your money while gambling. So please be careful!
hero member
Activity: 896
Merit: 1000
Live Stars - Adult Streaming Platform
April 11, 2016, 04:14:10 PM
#65
It could be good to invest in bitcoins casino's although you need to keep in mind there are some risks involved with doing this.

1. You will need to find a casino that is trust worthy and will most likely not scam you.
2. Keep in mind that you are taking multiple risks with investing in the bitcoin and also investing with the bitcoin in a casino.
3. Search a good casino that already has users and maybe also some investors so you can now its good and you know there is some profit you can make, a casino need to be popular to gain profit.
legendary
Activity: 3304
Merit: 1617
#1 VIP Crypto Casino
April 11, 2016, 11:19:09 AM
#64
If you have money to invest then just put it into bitcoin. Please not to casinos or sportsbooks investment, too many times sites scam & close stealing all investors funds.
legendary
Activity: 1274
Merit: 1001
April 11, 2016, 10:58:52 AM
#63
You can invest but just like gambling ( do with your own risk )
In order to make good investing, you need observing the casino detail before do it. Although they did a great promo or wagered on the first glance , doesn't mean they are good place to invest in. Just remember dicebitco.in incident !
legendary
Activity: 1358
Merit: 1014
April 11, 2016, 10:41:38 AM
#62
Little useful advice here. $3k is nowhere near enough to start a profitable casino website unless you are a great programmer, brilliant at customer service and good at marketing. A combination not many people have.

I used to invest in Just dice. There was a large hiccup but overall it was very profitable. I belive I trippled my investment in a fairly short time scale. Ive not bothered since it moved to clams as I could end up with 10 times more clams and still lose money if the value of clams collapses, but I am still tempted.

I have never tried any of the other investment in gambling sites because I either didn't trust the site would exist 1 year later or there was not enough players or house edge to make the investment in the house bank roll risk worth the potential profit. Put simply if there is a 50% chance any site goes walkies with my bitcoins then I want to be able to make 200% in 12 months or I am not going to risk it!

I would love to know if there are any btc gambling sites that people are currently invested in that are making significant long term profits.

Im on the same boat. Got some spare BTC that I would like to invest instead of having 100% of my BTC sitting on cold storage. i was looking around at casino deals and there seems to be very few casinos that have survived for a long time. PrimeDice is probably the site I trust the most, it has proved over the years that it can survive while delivering a good experience. I remember Stunna is like a lot here because his sig campaign had great rates and ran for a long period, I wish it came back.
Anyway, I can't think of many sites that have survived more than 2 years, which is where I start considering a site to be solid at least in the cryptospace.
sr. member
Activity: 336
Merit: 250
April 11, 2016, 10:23:40 AM
#61
Why not investing can earn you some money back. But do not spend to much because you will never now what can happen it can go all wrong. Then you have just lost your money. 
sr. member
Activity: 271
Merit: 250
April 11, 2016, 09:07:32 AM
#60
No, don't invest in a casino because it is a gambling, losing has a big chance on it rather than winning, I would discourage everybody to gamble.
Im just saying that gambling has a big chance of losing but still you have a chance of winning. It is still on OP and everyones decision and I'm just giving my opinion.
I'm just saying that you are a hypocrite. And I'm just giving my opinion.
It can be risky of course, because if you lose or if it is not going good, than you will lose money and that is bad because it is all wasted and you can become poor.
But if you are lucky you can indeed make many money with it, but the chance is really low.
legendary
Activity: 1218
Merit: 1006
April 11, 2016, 08:30:17 AM
#59
Investing in casino is better than playing yourself as there is statement house always wins in end. And also you will be sharing risk of loss in bankroll when you invest. But keep in mind only invest in popular and trusted gambling sites or you can invest in moneypot.com which is popular gambling wallet used by many casino sites by now.

REMEMBER THEIR IS RISK OF LOSS IN THIS TYPE OF INVESTMENT. Only invest what you can afford to loss.
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
April 11, 2016, 07:59:43 AM
#58
No, don't invest in a casino because it is a gambling, losing has a big chance on it rather than winning, I would discourage everybody to gamble.

Gamling and investing in a casino are different things. If you lose with gambling casino wins in general.

The downside of investing in a Bitcoin casino is they might be hacked and then you'll lose all your investments.
member
Activity: 114
Merit: 10
April 11, 2016, 07:38:37 AM
#57
Little useful advice here. $3k is nowhere near enough to start a profitable casino website unless you are a great programmer, brilliant at customer service and good at marketing. A combination not many people have.

I used to invest in Just dice. There was a large hiccup but overall it was very profitable. I belive I trippled my investment in a fairly short time scale. Ive not bothered since it moved to clams as I could end up with 10 times more clams and still lose money if the value of clams collapses, but I am still tempted.

I have never tried any of the other investment in gambling sites because I either didn't trust the site would exist 1 year later or there was not enough players or house edge to make the investment in the house bank roll risk worth the potential profit. Put simply if there is a 50% chance any site goes walkies with my bitcoins then I want to be able to make 200% in 12 months or I am not going to risk it!

I would love to know if there are any btc gambling sites that people are currently invested in that are making significant long term profits.
hero member
Activity: 1274
Merit: 516
April 11, 2016, 06:45:34 AM
#56
Its good investment when involves casino and gambling, most of the casino bring profit to the owner, the one that you need to search is the casino has a good reputation, how is the traffic and how many profit did they make everyday, if everything is good then it will be a good investment
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