Bitcoin Forum

Other than being respected in the community and being known for a trustworthy person and having a good idea, what other ways to find funders and investors?

 I would like to start a gambling website for mainly PvP so it will need fairly little starting capital since people will be playing against each other rather then the house so there is no house edge , we will only take the rake from each bet  people play.

 This might require a loyal good quality freelance developer (to develop first then to maintain it safe forever) in the pay loop and designer to make it look good , marketing will be done by me and all of this might cost some coins and I do not have it , my budget right now is about 100$ or slightly more , I might need a starting capital of 1000$ first and after that I might go with the earnings or maybe will need bigger funds to market even more the get more attraction.

Finding investors isn't hard, it's convincing them you can deliver returns that is.

I would clearly present your idea, plan, roadmap  (don't worry, no one steals ideas. If you have a good idea, you have to shove it down peoples throats) and sell people on it. Research the hell out of it, get some estimates on how much development and design is going to cost. Put yourself in the position where everything is ready to go, you just need money.

If you are going to the marketer, here is your first challenge. Market yourself and your plan to investors. Check out some successful kickstart projects to get an idea of what it takes to get people to part from their cash.

From my experience I have seen with time the trust comes automatically and it becomes possible to find investors. Most of the investors too wait for some time before considering investing. If the site runs for the time without much problems and in a professional manner than people do consider investing.

Also your site will have to be famous and have the reputation to attract the investors.

 The problem is , the site needs an initial startup cost to be build. Since I am not the developer I need to hire one , and since this is a gambling website I can not hire anyone , it needs to be a trusted person. Even the trusted person is not enough, couple of other developers needs to see if the code is legit , maybe some sysadmin as well , so and so. Basically , if I do not know how to code and I want a gambling website to be coded for me , it won't be cheap. We may start with initial play-money version of it just to give the feeling for the investors but otherwise I can not get this website build all by myself.

 In best case , I will find a CTO that will take % rather then $ but if he is going to build the website , why would he need me?

You need to look for a guy who is into gambling as well. As the other user said above, it's not hard to find if your plan gives a solid return on investment. You must convince them to join you by offering what you have in store.

What will you offer people so that they will be your partner or investor besides your idea? You cant code, you have no budget and in total if someone can code or have the budget then he wont even need you. If you got a great idea, you need a great developer as well but no one will be doing it for percentage so you need to offer something beside just your idea or your plan

Is hard to find investor if you have a quality launch gambling, let alone for the new site, that exists only in your head for now. You will not find easy 1000 $ in the forum whitout concrete and real project

I don't have understand, you have one idea for che gamling pvp and search 1000 $ for create all ? Site, scrypt and more? 1000 $ for me is very low for find a great programmator to create a new scrypt for you.

 Mario if I were you I would use that 1000$ in english , possible a whole lot more as well.

 shulio , that is what I am saying , if I find the money I will hire the programmer , otherwise if I do not pay for the coder , why would he take the equity rather then cash? So that is why I am not looking for a coder with some talent , I am looking for a VC with capital :D If I considered partnering up with a coder for the website I would start a topic and ask how can I get someone to partner up with me rather then asking how to find funds.

 Seriously tough , if a coder could code the shit out of a website and make it really tight (really difficult to hack at least , close to impossible hopefully ; I would market the crap out of it and work day and night and spend every waking hour how to get more and more people in to the website. I had one of the earliest faucetrotators and it reached over 1000 visits a day in couple of days and sold it when it was 12k a day in day 26th , so I think I can get a lot of attraction if I can believe in the project. I did the same think for some concierge service business and I got it to 200 visits a day from ground up , so I need to love what I do to market it better.

 A coder can code the website and make it work and get some people to play it . He will mimick others and will have signature and maybe some referral and some promos like aall others but how much will he be known? Whereas I can take any site and make it from zero people know about it to 20k people will visit it a day in just under 2 months (maybe slightly over). Which I believe is a quality skill but can't prove it tough...

 So thats why I am not asking for a CTO , I am asking for a CFO :D

Convincing investors is hard.
You could just run away with all the funds if you want to.
What you can do is, if you have only a few investors (1-2), you can make your gambling site's cold wallet be a multisig wallet, where you can't take the funds and run without the investors confirmation.
For example, if you have 2 investors, investing 50 BTC each, maybe 5 BTC could be in the hot wallet, and the rest would be a 2 of 3 key cold wallet, needing atleast one investor to withdraw the funds along with you.

Finally, this market is rather full atm, you might not be able to get as many big gamblers as you hope for.
You would need to have a super low house edge for people to even consider it, and a lot of reputation for whales to trust you.

 Jambola literally didn't read the idea and commented. I do not have house edge , I have rake. I do not play against the players , they play against each other...

If you want $1000 upfront from an investor, that is really hard. They are risking too much.
One is, they are trusting you. What if you just ran with the money?
Two is, what if everything is done, and no one plays there?

That is all it is about.

If you don't have money or bitcoin for start the project, you can't use any object, like laptop, camera, game console as collateralk for request a little loan to the forum ?

 Collatoral sounds great , also for everyone who considers why I can't simply put the starting project capital , well my morgage is 600$ , not everyone lives in USA with 50k$+ salaries , some of us lives with 1000$ a month in other countries and still live easily , its just that the currencies are very different here and 100 is all my bills for a whole month for example.

 To make it easier for you all to understand , how much 1 million dollars can go in USA and how much 1 million dollars can go in pakistan? in Nigeria? In Liberia?

 Of course I am living in Turkey so its not that bad but still prices are way cheaper here then there so putting up to say 5k$ there is a lot harder here then there. Could be done , just harder.

May be I didnt have any clue about this investor things. But what I do know is if you have a great site like a good idea to implement in your site or may be a great changes in the future I guess that is what investor want to invest but with a lousy site I dont think so there will be investor want to invest there, may be you can try on moneypot ask them to fund your site I think that is the best thing for investor

Why dont you try MATCHED betting + ARBING( surebets)?

With $200 or thereabout you should be able to raise $700/800 to start the project yourself without any help.

Once you have started and you have something tangible to show...You will get the investors you need to complete said project and launch.

you have to have a successful site,and must look for investors in sites like this, you need to advertise in gambling related sites

@Aleator

if your idea is unique so don't tell anyone and the 2nd tip from me is dont tell anyone

wait until you have the money to take a developer on your own and checkout

www.moneypot.com (http://www.moneypot.com)

good luck

you just need to know what moneypot is and offers and you would not ask this stupid question.

and regarding signature you should change your glasses then you would see the signature better

no offense intended but I hate stupid postings

 He meant we could use moneypot api to create a dice website to start off with. I will definetly check that out.

It might be hard because you are a new owner. And also $1000 is not alot of starting capital. SO many investors might not want to invest because they dont wan't to assume 90% of the financial risk.

If I were you I wouldn't tell my idea to any investors in hopes of getting funded, if I was sure that my idea is unique and it could potentially bring good return then I would find the funds from elsewhere, either take loans on collateral or try to borrow from friends and family or bring in them in the project as partners.

The idea will get copied eventually after your site is up and running but your aim should be the first one to cash that idea, if you discuss it with others online then it might get copied and applied before you even get a chance.

You need to put together idea and project plan how you can reach your goal. Then post it here with offer for investors. May be someone will be interested, but be prepared for a lot of questions.

you either have to be known/respected or whatever so that investors would trust you with their money or you have to provide some sort of guarantee of return for them. unless you want some sort of crowdfunding investment like some gambling sites do (invest in bankroll) which again needs trust and you will need to have an old service.

just for info you dont need offer a dice site/game with moneypot. most of the games will work. but if you will do a PvP only then you dont need moneypot because you take a rake from players. btw a rake from players is imo a house edge

good luck

Op you don't necessarily need to be old and respected member of the community. Everyone started somewhere at one point.
I guess your best bet will be introduce yourself, your business ideas and details of your project - you need to do this really well.
If people find this interesting and your idea will be good someone will help you finance your project.

 I decided to use the moneypot api. That lowers the requirements a lot.

 After I get a good dice website that could make me decent money I will get one website with play money without putting too much budget into it and I will get that working well , if it finds enough attraction I will turn it into bitcoin and use some budget for it.

interesting

and who told you to checkout moneypot?

Its illegal to accept investments without proper approval from the SEC.

This is pretty weird, why would you start with a play money if you can keep on using moneypot's API for it ? Besides you as a developer are risk-free and you can keep on getting profit as long as there are someone that wager on your site assuming that your idea is genuine and it attracts alot bettor.
As for the bolded part, the competition for the dice site around here is pretty hard with all these old site around here so unless you could create something that is "awesome" then it will be pretty hard to jump in the market


Thought it was you?


To be honest over 90 % of the gambling site around here is illegal to begin with and moreover even BTC is illegal in some country so that wont matter anyway.

You should create a thread of your site and take into account the feedback of the people

that way you will have a good site and that will bring investors

I predict that one day there could be an ico coin for the gambling website where it can traded freely on the altcoin exchange just like the stock market.
Then the gambling website will use the funds to expand the business.

 I don't know some handsome smart gentleman passed by here and said "its dangerous alone out here , take this with you" and gave me this crucial information.

haha what a smart guy  ;D

Like others suggested Moneypot is probably the best way. Otherwise it becomes really difficult to get investment as there is always a big risk for investors to invest in an anonymous site. Over time chances might increase but it still depends on how active and dedication of the developer is. I really like what moneypot has been offering for sites. If everyone can trust moneypot, then thats probably the best thing. Apart from this I don't think its illegal to start a company to invest in different sites , perhaps they can register themselves as a company , which likely will make them more trustworthy.

Can tell you right now you are no where near ready to be looking for investors. Not trying to be a dick but it would be like opening a faucet at this point.
Go search this forum for bitcoin poker sites and see how poorly they are doing for the most part.

even if you really have a great idea for a gambling website you wont get any investors as long as you are not a reputable member, you should ask your friends to invest instead of unknown people

You actually bring up a pretty good point. Because one investor with alot of money can hire another programmer and hire some staff and he can simply steal the ideal and keep all the money to themselves. You cant put a patent down on something like this.

 I don't think that would happen. I wrote this to bunch of places for a looong time now. Noone steals it. Like I said , it is very difficult for someone with a lot of money to get into risk for something new , they will do stuff that has been tried before.

I wil report you to the SEC and get paid when you get arrested  :P