Topic: The steps and legality of opening a crypto casino (Read 170 times)

Yeah, I wasnt planning on opening one, I just thought the idea was interesting.

According to my opinion, the OP has already abandoned this idea 

Depends on where you live and where your clients live? You might need to put up restrictions for some countries. You probably also need a license and a lot of other stuff. Best talk to a lawyer who specializes in stuff like this.

from what I could see looking at the casinos related to cryptocurrencies I would say that what you need is to have a casino with a good design, which has no bugs, to have enough support staff able to quickly answer and resolve customer problems

on the legal issue:

From what I understand casinos related to cryptocurrencies seek to have a license of curacao because they have soft laws that are easier and more advantageous for the casinos or maybe it's so that people feel more comfortable knowing that there is a license, anyway you just need to consult a lawyer about your country's laws regarding casinos and if he tells you it's okay then you can get a curacao license too

big fund? can you please give a number? just an about number to get the idea what you mean with big fund

cheers

If you Google you will find this article that explores all you need to know how to set up a Cryptocurrency casino


How to Open Bitcoin Casino or Crypto Casino
Why start a casino using Bitcoins?


You need a big fund to start a Cryptocurrency online casino but if you have a goal and you mean well we can support you and advise you how to market your online casino just like what we did to those who asked us and launch their casinos here.

You could theoretically open one up without any bankroll if you were to offer Peer to Peer (P2P) services rather than being the house yourself. Though, you would need money to invest in the server etc, you wouldn't necessarily need to pay the players, and could be just a way of hosting it for the time being. At least, until you get a active player base.

Though, regardless of the way you do it, you'll still need to seek sufficient licensing, and make sure you are operating to your region/state's laws.

My idea for the casino wouldnt require all that much bankroll, if I were to open one (Hypothetically). It would be a poker game where when you play, you deposit crypto into the website and use it like chips when you are playing, so if your playing texas holdem, and win a pot, that pot of deposited crypto gets sent to your wallet.

Yeah, so you need a license for each country that you intend on operating in. For example, if you want to supply to UK residents then you need a license to reflect that. This is where it gets complicated, because I know in the USA multiple states have a ban on gambling, right? Therefore, you need to block those users to the best of your ability, otherwise you might find yourself in legal issues. Obviously, the most logical steps would be blocking IPs that originate in those states, you can't really counteract against users that are using VPNs to bypass it.

Age restrictions will apply. For most licensed gambing websites you'll need to verify your age if you want to withdraw a certain amount. Most fiat gambling websites in the UK don't verify your age or identity until you withdraw a certain amount. Okay, the credit card will verify that you're at least of age to gamble, but not in every case, because you can get a debit card under the age of 18. Only certain gambling activities in the UK like the lottery are accessible to over 16s.

The idea of being licensed is; you'll require KYC from your customers. There is no two ways about it, if you want to become licensed, and therefore a legally operating gambling company, you will need to verify the age of your customers. Whether that's through cryptocurrency or fiat.

This isn't always the case depending on the license you have, and where you're operating from. Take a look at the gambling company that you use or if you don't use any just take a look at the most popular. I can almost guarantee in most instances they'll be operating offshore. It's one of the morally grey areas right now in the gambling industry, where companies base their company out of a country which has less regulations surrounding verifying who is using the website to gamble. They are usually operating in places which have less tax obligations too.

Take a look at most of the online Crypto gambling operations out there and you will see most of them are licensed under the Curacao gaming license. ===> https://slotegrator.pro/analytical_articles/how-to-get-a-gaming-license-in-curacao.html

You will also have to decide if you are going to pay developers to develop a brand new casino or if you are going to go for a White label casino. (White label online casinos is a perfect alternative for those who want to roll out a new casino within a short time-frame)

I hope you have a lot of money, because "The House" has to have a big bankroll to cover the wins and also all the marketing that has to be done, to promote the casino. 

To open a casino that accepts cryptocurrency as the main means of payment, you need all the same components as when opening a fiat casino.

• Modest market research
• License
• Software, Games & Debugged payment system
• Marketing

Start your study with those bookmakers that are presented here on the forum, analyze what audience most of them are targeting. Study the paying capacity and gaming preferences of the audience and decide which model is right for you and suits your capabilities and resources. Likewise, the situation is with the license ... on the website of each bookmaker's office that comes into your field of vision, information about the license is published. The better the license, the more secure the players feel when betting. I don't know much about software, but from my own experience I can say that it's much more pleasant to deal with powerful and fast soft, so it's better not to save money here.

With games, I think everything is also clear, after analyzing the audience, you can easily determine the type of preferred games, etc. I also think everything is clear with payment systems, since there are quite a few well-known brands that can satisfy your needs, (if the budget allows you, think about how to cover all the commission costs of clients, as in the long term it will pay off). I will not touch on the topic of marketing for now, as this is a rather extensive topic of conversation, but feel free to ask anyway.  

Technically, even a single or handful of people can run a casino without a company behind it as long as you can find someone to design the site, the games, and register the domain.


I don't think it's just about whether you're allowed to get a gambling license in your incorporating country, it's also whether you have a license to provide your service in users' countries as well. Certain countries e.g. UK can block certain casinos from operating there, while for others it is completely blocked for all casinos.

I disagree that casinos are treated like other fiat(-handling crypto) businesses, because of the inherent age restrictions of gambling, which results in tighter regulations on the gambling industry.

Basically, as long as cryptocurrencies are legal they'll be treated like any other business that you would operate with fiat currencies. So, the same taxes will apply in most cases, but there are instances where tax for cryptocurrencies can be different. We couldn't possibly give you accurate replies without knowing your country.

However, the information you need is a search away, and you don't have to give us your personal information. Basically, do a search of the legality of Cryptocurrency, then look at how its taxed in your jurisdiction, and then finally look at if you will require a license to operate your casino. Usually, to be legal you'll need some sort of license. This is issued by the gambling commission in the UK I believe.

The legality of a crypto casino are going to be based off whether crypto is legal in that country. If it is, and treated like cash, then you can open one and get it licensed (you'll probably have discuss with a solicitor/advisor anyway if you'd need a license normally in your country as they'll be able to best prepare you for that and get you a fast approval).

If you're unsure, you might be able to search your license provider (normally a government agency) for private advisors that might be able to answer any questions you have. You likely will need to look for other staff members too (if you don't know how to program or don't know the best security methods for crypto - unless you're willing/capable to self teach).

Hey guys! I was looking for information about opening a crypto casino but couldnt find much. Does anyone here have information on the steps and legality of opening a crypto casino? If so please reply! It would be greatly appreciated.