Bitcoin Forum

Whats up guys. :)

As stated in my last post I'm currently developing a new gambling website. ;)
I got a few fine bankroll deals so I'm wondering what amount would be reasonable to make sure I can pay at any given time. :)
Anyone got ideas, suggestions or even experiences that would be helpful to share? :D

Greetz~ 

what type of gambling site you are going to start, if you are going to start dice and casino then you will be needing 100+ bitcoins minimum, if you want big gamblers to come in your site and play. or else what ever bankroll you set it is upto you.

If you wanted to start sports betting site then lot of work have to be done before bankroll

I also think +100 BTC is a bare minimum, but you could also minimize the risk for yourself by limiting the max winrate per bet.
That way you'll be less affected by variance since you can't lose, say, 10% of your bankroll by one lucky player.

I would think you want something much bigger then 100BTC. If you look at Prime Dice's thread in the very first day someone won 200 BTC. I mean you can't expect te same thing but to plan for the worst. I would assume you would want 500 or more. Depends on what your max bet is going to be. If you use 1% of your BR as max bet and max bet is 5 BTC then 500 btc should be ok. Anything less and i think you may run into problems esp if you take off and have great success early.

It really depends on the type of gambling site that you will establish. If it's a lotto type or a type with high odds , it is a "must" to have the highest bankroll. It's not impossible to have consecutive winnings on lotto's or rolling a dice with 999x, always remember that  ;). To answer the question: Agreed with others , no less than 100BTC.

Why not integrate your site with the moneypot API? You'll have to share your profits with moneypot, but they will cover your bankroll in return. With moneypot, you won't have to worry as much about your bankroll, or the security of your bankroll.

Being mentioned above I do agree with them the initial or average bankroll of a new gambling site would not be less than 100 btc that would be sufficient enough and somehow ensure that you wont lack incase of payouts to your players but still depends on what kind of gambling game you would create.Dont have much idea on this since I don't know how to build one  ;D

What you can do is do micro bets that your max win will be set and the gamblers cannot bet higher than the max winnings the bankroll can have. Then get more investors by having people invest into the house so you can grow your bankroll without funding it yourself. Just be wary that it takes more than just a big bankroll to develop a great gambling site.

I think the amount is too large, if you look at primedice case, those sites currently running when bitcoin prices are still low for now I think he been able to run the site with have 50btc as a bankroll.

the new casinos that announce their bankroll, usually claim they have more than a couple of hundred bitcoin in their bankroll. but it is just a claim unless we see proof. in any case, at the start you don't need that much. you can actually have less but it always depends on how fast you are going to get popular. you can accumulate more and also accept investors to add more but if a whale wins and you end up not being able to pay him you are screwed.

From what I saw the most important would be to see a bankroll around 200BTC, look at YoloDice, it was a very new dice site and started with around 15BTC of deficit in the first weeks...
Now it's at +50BTC of profit but it was a fast change and you have to get a bankroll able to handle such swings!
The best would probably be to think about an investment option for users. Then you'd have no problem gathering a 200BTC bankroll.

To attract gamblers, you should have a decent bankroll, my suggestion is to have at least a minimum amount would be BTC50, it should be your beginning bankroll and you can add features on investing to increase your bankroll.
You are in control of the rules, you can limit the bettors bets maximum for you to stay operating, that will avoid whales putting big amount that might wipe out your entire bankroll.

Normally, you are into profit as long as you are operating.

I think you can start with whatever bankroll you have. The only thing to remember is don't forget to set the maximum profit on a single bet to 1% of your current bankroll or even lower. Hence you won't get bankrupted faster.

How do you plan to promote your new gambling website? How much also depend on the expected revenue.

If you offer slots, you should have around 300 BTC.

I do not know how much bankroll is ideal for making new gambling sites. But I think the bigger bankroll would be better for the gambling sites. It may also have to adjust to the gambling sites such as what would you build and what game would you make. See comment above, +100 BTC bankroll very good amount for gambling sites in general.

Thanks for this one on the idea that you mentioned and you are definitely right that we should put limitations regarding on max bet on the gamblers so that bankroll wont be affected too much when theres huge winning among the players. Agree its not only having a big bankroll should be focused on since there are lots of things should be considered too.

Wow, that singular event alone can determine the future of the gambling site, on the first opening, someone winning that amount. 100btc is a whole lot of money which to me I dont think an individual can afford, so why not in my opinion go for crowd funding and gather as much as possible and also state in your terms what you will be able to afford as payout at the same time if possible state the maximum winnings and communicate as soon as possible because if you dont do that, scam accussation is knocking at your door.

Personally I think at least you need to have 100 btc as bankroll, if you have rich investors, you can set 1000 or more btc as bankroll, so you should set more if you want to make a big casino.

I think you need to explain the details too about the gambling site that you want to launch at least it was really interesting to discuss and obtain feedback from the community here

if you want get trust member and play in youre gambling site, minimum in bankroll 100 bitcoin
and youre must setting maximum bet or maximum profit , because if not setting youre bankroll can danger in payment, if member big win

From the way I see it, I will say it depends on your capacity what is there is that you should be transparent about it and inform the users about it. In the sense that if you cannot afford 100btc as jackpot dont announce it thinking that no one will win it. It might surprise you that so far you have implemented the provably fair system, on that same day some one might win it as in the case of prime dice. Set maximum win of what you can afford, with reason amount to wager for that maximum winning.

More than ....... how much you currently have.

Disregarding the numbers to make your worries be lessen, I suggest to limit the max bet but take note that it's not an assurance that you will not pay more. If your gambling site has a genuine provably fair option really expect a big winners.

The only thing I can say is, face all the possible risk.

It's hard to compare primedice with op's situation because bitcoin back then wasn't much expensive so bankroll isn't a big problem for them. Imo setting a max bet is not good because a bettor can simply set it on any multiplier and have a chance to win then the casino's bankroll is already destroyed, it's much better if he set it on max profit than max bet.

I do believe what he means by max bet is max profit per bet so it will not destroy the bankroll if OP use 1% of BR as max profit per bet. Of course anything may still happen if a lucky gambler win the max profit per bet continuesly in a row.
I think, OP can just start with what he have on his wallet. No need to force himself to provide so huge bankroll, let the bankroll increase by itself maybe by offering investment. Or he can simply use moneypot as the bankroll which will be safer for him.