Bitcoin Forum

Hello all,

I am reading since a long time on this forum and I learned a lot about BTC and altcoins.

Because of the info I found of this forum I bought ETC, ETH and ICN long before their current heights.
Thank you.

I started to get intrested in BTC-betting/casino`s and investing in bankrolls of casinos/sites.
There are some good sites live, but honestly: most of them are copies of each other.

I am currently working on a (yes I say it myself) very nice, appealing, new concept.
We will launch with a working beta soon.

In order to get a bigger bankroll (to accept bigger bets) and apply for a gambling license we will be open for investments.
We can go the traditional way and ask friends, fools & family or even professional investors... but I also learnd on this forum that there are other possibilities.  How does it work? What are the possibilities? It 's a little confusing for me.

Idealy we would raise 500 BTC.

Do I give out tokens?smart contracts as a share of the project/bankroll/winning-losses...?



Ty!

How to attract investors?

Your platform should be realistic and not just flowery promises.

If you have read enough in this forum, but haven't tried investing yet, you might want to try investing in bitvest.io to learn more. :)

Thank you for your reply.

The word platform is a little heavy for what I have in mind.

For example https://www.bustabit.com/ is a unique betting site. Straight forward.
Easy to deposit BTC and get credits (bits) and easy to withdrawl credits(bits) to BTC again.
This is not a big platform. Its just 1 appealing game.

I am developing a unique appealing game to, and I want to find out where and how to find/attract investors.
Like I said before the target is 500 BTC. They will be used for bankroll, advertising and getting a license.
Ofcourse we will launch a beta first... But since there is so much info out there I decided to (finally) make a profile here and make a post.

This ^^^.
I am sure people will invest if project is good  ;)

Do people have to do this whenever they create a site like this? Even with bitcoin?

In order to attract investors, as jamyr put it, it'll have to be realistic. It would also be good to specify what you're hoping to get from the investors. Is it a simple "just need to raise the initial capital, and the investors will receive a fraction of the earnings", or would you accept feedback on how to run the site/want more developers to help you build it? As a prospective investor, I'd also want to be sure that there's no way to game the system, cause 500 BTC isn't chump change.

U must convince investors that u wont run away after raising 500 BTC <= This is the toughest part.

You need a business partner who is also a crypto currency whale. You sit together and draft a business plan on how to utilize the investment funds. If you need even more funds to keep your business afloat you get another business partner. Profit.
 

It's not common that everyday you see another guy who owns shit tons of money especially in cryptocurrencies that wants to just suddenly partner up with anybody. They are rarer than a unicorn. The best option for you OP is to create some kind of ICO so that you can gather up the necessary funds. People don't want to invest loads of money instantly. Though they don't mind to invest a few dollars. If you get like thousands of small investors then you will eventually get the necessary funding you need. Keep in mind though that your idea should be really unique so that you will get enough interest.

If you want to attract investors to invest in your new betting concept, you might have to build up the site first to show investors how attractive is your site comparing to other gambling sites out in the market. It would be difficult to convince people to trust in you with so much funds by simply giving ideas and discussion on the forum.

You should start with small amount for your goals then break it

Its really a must that you need to have a solid plan that you can provide in order to attract investors since that theres a lots of competiton around you should need some attracting fundamentals and deals that your possible partners cant resist. Maybe complete formal plan with accordance to the law insuring investors that there would be no scam that will happen.

Yes I think best option right now is to start ICO and sell out ethereum based tokens but for that you have to search for trusted escrow agent to receive all investments from ICO and you have to develop atleast beta platform  and roadmap of your project so that you can start getting interest from some serious investors. Also running bounty campaigns on this forum before you start crowdfunding could be beneficial.

Also he has a big risk, now in bitcoin world full of competition then he want to build a unique and attractive site, even investors already have a trust on most of the sites, then he need a big capital to promote his site and do something unique that investors come in his site and start to play. In the end it is luck may be he will succeed.

There is a big competition but it's a big market so it's not a hindrance if your idea is unique, investors will trust their money if they see they can make a good return, besides it's a gamble but as a developers you need to do your job and deliver.

Maybe if you are really interested you should run an ICO, but make sure everything is ready when you announce, that is the trend nowadays so try it.

Give out a token or held an ICO is useless if your project is not interesting/unique to attract people or even investors, then you should presenting to your investors your management strategy, marketing, ect.
Besides that, look around your competitors, there are pretty much out there, your mentally should be strong to survive.

for 500BTC your only option is friends and family and those who know you in real life because nobody in his right mind would trust a random person on the internet which only has an account and is communicating through the computer!

all these sites that you see currently exist and can raise such amount easily is because they have worked hard for years and gathered a lot of trust over the years and it is clear that they are running a legit business and are here to stay not just create a fake front to gain some investment an then run away.

your other mistake is wanting to start big. even if your site were the best, it won't get enough players with big money in the start. so start small and then build on it.

500BTC is good option for start an ICO but you need more investor to make it bigger beside that if you want to give an offer to investor, you need to have a good plan about the ICO so this will make investor interesting with your project. if you can get many investor, i am sure that your project will be success and your ICO will be success too.

To start your business yes you need to collect money from your known person. The 3rd person will not trust you because they don't know who you are and where you from. A useally known person only not accept your business deal immediately because your investment is not small it's huge money. So try to cut your investment and start with the small amount I think you will get investors. And I don't know hoe you will attract investors this is the big question.

This would be the best possible solution when you do seek for investors because if you knew a whale then your plans will be somehow solved already but the problem is how you convince him with your project and thats the toughest thing i guess.Raising 500 btc is somehow too big but still be achievable.

You need to build your site first, launch it, put a starting bankroll from your own pocket - at least 30-50 BTC. Then you can add investment option - people should be able to invest and divest at any time, they will be getting some percentage of casinos profit - usually it's between 50% and 80%. It will take a lot of time to get 500 BTC bankroll, as you will be competing with casinos that have been around for years, but this is the safest way, ICO's, dapps and smart contracts are very hyped now, but it may be very hard to deliver and you will have to but a lot of time and money into additional development.

Hi guys,
Thank you all for your answers.

Sure we will launch (a beta) first. I am not that optimistic to think that people send me BTC just because of a post here (lol).

It's not my first startup (lots of failures), so I have some contacts in the venture capital world.
But since I read a lot (confusing info) about smart contracts, ico's and backing the bankroll of a btc-casino
I want to get to the buttom of this. For understandable reasons like: crowd (or insiders) is better than vc, and the deals in ICO's and tokensales are better (from the entrepeneur pov) and faster, with less (or none) regulations.

I was thinking about:
-launching small with limited players and max bet per play.
-get feedback from early players and make the site better.
-launch a tokensale for x-amout of BTC/ETH, each token will represent a share in the site/project/company (=voting + profitshare).
-voting will apply on future projects like: getting (more) licenses (if in the future jurisdictions close/open), accept fiat payments (why not if we have a succesfull site and a license to opperate?), create new games, do acquisitions,...

In a nutshell:
I am here to make some money, in a honest way (well, if I tell my grandmother I want to run a bitcoin casino, not sure she will think if it's that honest, but okay).
I don't want to run away with 500 BTC from investors (even if it's a lot of money).

I am not a developer myself, but I know the technology is out there (tokens, smartcontracts, multi-signature transactions, provably fair, audits,...) to make an iconic, profitable site.

And btw: casinos/games whith a house edge of 1% do make way more money then 1% of the total bets. Don't let them fool you.
The profit a casino make is nearly the total drop (all the deposits). On each game a casino has a house edge, but with a good bankroll management players (often) go broke (in a setting). How much of you guys lost on those site till now only 1% of the deposits?
I am sure some of you will have actual profits. There will be smart guys who can control themselves. But most of the players (who are probably not on this forum) just bet untill they are broke.
The house always win, except when you have a loser doing the finances.


EDIT: my quesion is:
if the moment is there and we launch our beta, where to find the first players & where to pitch investors?
Here on this forum? Or...? Where is the best place for sponsered posts /ads?

Nobody has to answer ofc, but here is so much knowledge presented... It would be a shame of me not to ask you opinions guys.


Ty

if you want to gain the trust of investors make sure the funds will be hold by the trusted people like escrow who had the biggest position and the biggest trust on this community, also the right plat form will be the best one to attract the investors to invest to your plan or idea of creating coins.

You must prove yourself your if you are trusted person to handle funds by presenting your real identity and uploading some video interview with you. Trust is the first factor you must consider if you are planning to establish a bussiness unit. And token is a nice way to distribute on your gambling site just like vdice and edgeless. But I'm really interested on what kind of gambling you will present that most gambling casino didn't have.  ??? :o

presenting my real identity, a video, a meeting... all not a problem for me

thanks for the examles

new kind = its a very old (and used) concept, we put it in a fresh jacket, fast, high returns, cool, easy, fun. You will see, I will be happy to show you soon.



finding a way to make sure the funds are safe is exactly what we need. What do you mean by: ''like escrow''  is escrow a person? who had the biggest trust?

How can I get in touch with Mr Escrow, to talk with him about holding funds safe...?

Thank you again

There is a lot of people having the same idea as you and each of them have their own merits. so you need to find ways how you can differentiate yourself from them. You can have a look at the different ICO out there and see which one is attractive and find out the reasons why and so on. Marry all these reasons together and you will have a solid plan.

ICO is probably the best way to raise funds. anyways you can take some ideas from these projects(https://funfair.io  https://dao.casino) or use them to build your site on the platform.

Old concept with just a few iterations will not really fly anymore. Depending on what you do with it, it has a likely chance to fail. Maybe you should just present what you have in mind.

About escrow. Escrow is the term used for the transaction where an escrow agent (trusted person) will hold on to the money that will be used for this project. Since the escrow agent is trusted then people will feel more secure that their money is in trusted hands and not just a random stranger who is unidentified from the internet. You can find some here on the forum. Try this link here, https://bitcointalk.org/index.php?topic=855778.0.

if finally you launch your beta, you can make new thread on here by telling about your site, i think the other member will be giving their review for your site. and if they give some suggestion to fix or manage your site, you can follow their suggestion to make your site is good enough like other gambling site. this forum is another good place for sponsored post / ads or if you have a social media website like facebook, twitter and else, you can use your pages to promote your site.

If you are planning to come up with a decent site and then plan on raising 500 bitcoin then giving out tokens would be a good idea,but in order to have a successful project you need to have a solid project and if you can live up to these expectation then i think it is a possibility to raise these amount pretty easily .

Hi guys,

Thanks again for your answers.

We are building. I will start a new topic as soon as it its ready.
Anyone who is willing to participate (as a smartcontract dev, banner campaign, blogger, streamer,..) will be more then welcome.

Have a good weekend everyone.

Ty

We need to make a good business plan, not empty promises. Do advertising and offer different bonuses to attract participants. I hope you will succeed.

Tokens and all are not going to work. Just accept direct investments , same as sites like Justdice does.

To start with, I would sugegst put your site out there so people can have a look and see if it is worth investing in. Only then you will get investors naturally.

You can open ICO.ERC 20 or better erc223.Write good whitepaper,be transparent.Nobody will invest if developer is anonymous.Than you can market your project by launching sig,social media campaigne.You will pay people in your tokens so no need to spend your own money

If you genuinely wanted to develop a gambling site then you can go with ICO and as you have mentioned that you are first going to develop the beta site and after that you are going to launch , then if after you have launched the bets version you can go with ICO with smart contracts or token for profit sharing like VSL(VDICE) is doing which is good for you project to get good response.

Yep, this is the hardest part of attracting investors. Even there is a transparency that your project is good, investors now are wise. They want to secure their money before they will invest it to a new project. Most of the upcoming projects are the same in terms of crowd funding/sale. Just provide realistic returns and profit to your investors.

Much better to launch a beta test first if your gambling new concept can be trending you can attract investors to your site to invest.
They should need to see the project first and how does project secured..
If you are just telling them without a proof investors will think this is another scam so better to give them proof of work..

It sounds like a good idea but 500btc is so much money . I dont think you have dine enough. I mean is this the plan you pitching to us here ? You can do better. You will have to if you want thst sort of money. Maybe use a smart contract like an ico ? Or you can do an escrow maybe.

It isn't that easy to attract investors specially when the money is too big to give to a stranger. They first need to get assured that you are not one of the scammers looking for each possible way to scam people. So start working and prove your worthyness and attract investors

A signature campaign is a good way to attract attention, users and investors. I think that you need to organize one to reach your targets.
Good luck!

The first thing you need to do is build a reputation....You can't just jump in here and ask for a $1.5M investment without standing in the community.  Yes, it sounds like a good idea, right? ---> just jump onto the forum, set up an ICO, raise a million dollars, and get rich quick! 

He wouldn't need to build a reputation if he had a portfolio. Previous projects tell a lot about an entrepreneur. If he was successful with his previous projects there's fair chance he will be again. Another important thing is being open and honest about the business, future plans and people involved in it. Transparency is a key factor when you want  to build trust.

"Previous projects" are a major factor in determining a person's reputation. A history of successful projects increases a persons standing in the community which contributes to a persons credibility, thereby, resulting in a favorable reputation.  On the other hand, it's ridiculous for a person to come in here expecting a million dollar investment without a verifiable resume'.

You are correct.
First of all, OP should provide a proof of his funds for the project. If it's to be 100% crowdfunded and he wants a million, then it's a joke or a scam.
Then he should not make this anonymous. He can be new to Bitcoins and to the forum, but he should have some experience in running a business. If he doesn't have that, he should hire a professional and that person should provide credentials and vouch for the project.

Yeaaa it will feels like asking money from random people.
Even a trustworthy forum member i doubt could get that huge amount for a random idea.
Unless if he can convince us with his project , i see there is a lot of successful ico funded with thousands bitcoin and you might can emulate from them.

But building a reputation takes a lot of time and by then their idea may become old. So if one thinks that they got a good idea but don't have funds to start a project then they should convince first any good escrow and ask them to hold the money then they can able to raise some money but not sure exactly how much they can get it.

Theres still some possible ways to gathered money but it would really be a tough one specially when you arent trustable enough by the community. You are right building reputation isnt easy and it would really requires time which means those ideas of yours would be only stuck on limbo. ;D

You would want to start a crowdfunding for this. And yes, I think you will get more investors if there are incentives given to them more than what other already existing gambling investments could offer. I think it will be hard though without a background of who you are and are you the one only going to operate the site? Usually people who are unknown or don't have any trust here will have a hard time raising funds in projects like this. Many gambling sites already tried and failed and closed their platform.

If the project is as good as you say it is, people or more precisely gamblers will become naturally interested in this project. I think many of them will start to add to the bankroll you are requiring for a start (500 btc) however I think it is much better to have a few partners who are like you in cryptocurrency interested and to collect together the sum without the need of investors. You can open up space then for investors to invest in your casino bankroll just like many other casinos are doing.

I don't get what you mean about 1% of the total bets isn't that the same as the 1% house edge from a casino?
The best thing to do after launching your beta is to make sponsored ads and spread it on different places like reddit, facebook and many more including this forum.

yes i agree , rather than have to propose for something that impossible to happened like funding 500 bitcoin since beginning better to launch your site with the concept you have even with limited budget then show it all to public to show how promising the business.

i will say that to make a proposal like this are so hard to filled not even with ads.

Guys,

Thanks again for your insights/advice.
We are working on our site an will raise initial funds to promote it.

Kind regards


(oh btw: I will give all details about myself, the team, the projects, the financials, the direction (roadmap) we are heading to and furthermore very soon.
Still working on other projects -non-bitcoin-related-... So Excuse me if I'm not very very active in replying here... just very busy now, limited timeframe... (and its 37 degrees where I am now :D )

Great to see that you have initiative to create the project. I would advice to really really post a good announcement (ANN) thread that would explain everything to the community so that you get investors. Usually it's hard to find an angel investor that will fund the whole thing, but you can likely find many investors that would support the whole project.

Hello,

We are about to launch our site/game and will give and update here very soon.
In order to organise our future growing:
Do you know good advertising channels (sites, blogs,...) where they accept gamble-related advertisers?

We will start small, but it's good to know where to advertise when things proof to be working.

Ty

This forum is itself a good advertising sites. An appealing announcement thread, bounties and signup/first deposit bonuses. Signature campaign and affiliate commission would certainly increase the user base.
There are several bitcoin based advertising sites like mellowads, coinad, etc which will take your advertisement to bitcoin community.

I also think this forum is good place to advertise the crypto projects almost all people who are interested in crypto-currencies familiar with this place. Unique project is the only thing which can raise the interest of people to give try to this gambling otherwise OP knows better copycat projects has no future.

You itself in the first comment have given details that this forum have given you lot of information about all coins and due to it you have bought in altcoin like, ETC, ETH AND ICN in low and now you are in good profit.

Then what better place you will get apart from this forum for advertising your gambling site, In this forum you can advertise your gambling site through, promotional bounty, signature campaign, social media bounty. Like this their are so many ways to advertise in this forum. You can contact Yahoo62278 and Lutpin who are good Campaign manager and they can help you in advertising in this forum.

Something new,fresh ,and promosing project will interest new investor. Ofcourse bitcoin gambling world getting hot since they are compete each other for being number one.
Some of them are easy to attempt but some others need some time to make their site get whale investor's interest

Create an altcoin and do an ICO on the altcoin boards.

People are going crazy there to invest in anything if they can get a piece of the pie.

Toughest part indeed. 500 btc amounts isnt a joke and converting it on the current price its almost a million dollars. Seems like a very tough thing to accumulate such number of money even some investors would jump in into your project but it wont reach the threshold for sure. Its just too high for a new site and make it sure that investors would really see the income potential of your site.If not then this plan would really remain as a dream.

Hello there.
You are already here in this forum so why not start here with your advertising campaign.
You could hire some people to spread the news about your gambling site through social medias.
Twitter and Facebook campaign are a good way to start it.
This could be cheaper than what will you spend paying a spot in one blog.
Plus, it will be a an everyday movement unlike with a blog where it is just input there where only people following the blog will see it.
Try it. Then you could see if it is worth it or not. Then you could stop.

wow guys, thanks again.

Yes ofcourse this forum is a TOP chanel to use.
I will make an ANN thread here. And start a signature campaign and so on.

Have a nice day.

Any gambling related and cryptocurrency related news 1st you publish in this forum and later you can start all types of a signature campaign like facebook, twitter and other advertisement methods. These methods will help your website introduce more people in the world, and you will get more customers. First, make ANN thread and start the signature campaign. All the best.

Make an ICO and you will easily get millions of $ in crypto :D

You can also go an "official" way by pitching your concept in front of wealthy investors. There are a lot around here which look for opportunities.

Yup, but before you get into ICO, you must get coins and preparation works. Now, it is about doing all the paper works like white paper, timeline for your ICO, what bonus to give, what return does the investors have etc. So it may seems easy, but it really do take up a lot of efforts.

Well I like the idea a lot. I was/am thinking about an ICO, but on the other hand...aren't there already to much of them?
And a coin with which purpose? Only for in-game usage?
Or will the coin be a token and represent a share in the potential profit of the casino?

go with ICO and you can get millions of $ in crypto-economy easily. and also make sure you provide a good customer support for your gambling site. also try adding some good advertisement and good offer for the investors. gambling site is never been beaten by the players it's easy to make money through it but you need a lot of investors.

Try looking at Betking ICO who have made a little less than 500btc in their pre-sale.

But to be like Betking, you need to prove that you are trustworthy. :)

Exactly, the OP needs to know that gambling is a serious business and we voluntarily follow a lot of rules before setting up and so if you want to be taken serious, just start doing the right thing first.

I wouldn't say bustabit is unique betting site because way before it came into existence, the cs:go gambling sites had the bustabit game on their sites way before. Anyways, taking in mind how successful bustabit became, you could try to clone one of the many appealing csgo gambling game and implement bitcoin on to it. It's a great idea in my opinion and I have witnessed countless people doing it. Talking about investment, the only viable to raise 500 btc in my opinion is to start an ICO. With money raised you can spend it easily on signature campaigns and use it as the bankroll as well.

thinking for competition but add more spices inside your site would attract more investors to join you just like what mate said copy the concept of a well known business then add more games like e-sports then promote or build an ico for your project with unique feature on how investors will earn profit sharing or dividends will attract more active participants.

It seems he's looking to attract investors at this stage and not participants. I don't think raising 500 BTC for this investment is goongvtobbe easy for you especially online because you need to build some real trust and why do you even need so much bitcoins for this project because I've wen others do same on thus forum and elsewhere with virtually nothing compared to yours, so what's special?

Yes he is looking for investors, but first, he must attract players then only investors will show interest in his project.  Impressing players is an easy task if you have initial investment. Without investing the initial amount, you can not build a good project and how you will impress investors to invest on your project. And yes his expectation is too high 500 BTC why he needs this much amount I am not understanding.

Make an ICO, betking is doing that, bitdice is also doing that, what stops you from creating an alt?
I have some opinion why casinos are doing this, I'm not sure am I right or not, but this is becoming a common practice, and they wouldn't do it if there aren't some advantages.
Betking had some pre-sale and they gathered more then 800000 dollars, and crowdsale didn't began yet.
This is not an easy task, creating an alt, advertising, attracting investors, this is not a one man job. Assembling a good team is crucial here, but this can be a good idea in the end. Good luck and I hope that I helped.

Not even OP knows what and how ICOs work and he already sharpen his teeth for 500 fu*king bitcoins like it's candy bars :D there is no such a thing as new concept in gambling, you'll always lose, if you have found a way for us to earn money out of thin air like bitcoin mining then I could give you a few tips.
ICOICOICOICOICOICOICOICOICOICO < that's the ICO train better to jump in before losing your millions :D

Are you freaking kidding me? For about 500 btc? I would say it would really be hard even on 50 btc op would really have a hard time on asking it.Hes dumb enough for sure on asking on a newbie account telling about a new concept of gambling? I dont think so. ICO is the best way but accumulating such amount would be near impossible on just building a gambling site.

the best way will still be selling some kind of token in form of ICO. Alot of people might be getting in as speculator but atleast you got the fund that you want to. In the end most people will never trust a new project that is for sure , only speculator will trust it so why not even try to speculate it to the speculator?

Hi guys,

To give you an update here before I open an ANN thread:

We are almost ready to launch, which means we are debugging and setting up the servers.
We tested it in a closed beta. We will open (with a funky domain) very soon.

Our (first) game:

A Wheel of Fortune/roulette with 100 slots
and a max pay out of 99 times the bet.

We have ±1% house edge and are provably fair.

x 2.06 = GREY   = 48 slots   
x2.85  =PURPLE = 35slots 
x9.90  =GREEN  = 10slots
x24.75= BLUE    = 4 slots
x49.50= GOLD   = 2 slots
x99.00= PINK     = 1 slots

We will hold a ''bankroll-backers-sale'' for max 500 BTC.
We have raised in pre-sale (from a few befriended- investors) 110 BTC so far.

Here is a screenshot of our site:

https://ibb.co/gKGYjv


Do you guys have any suggestions or feedback so far?
We really believe we re-invented the roulette. With only 1% house edge, provably fair & a max pay out of 99 times the bet, we aim to get licensed (like a legal company) somewhere, one day.
We will launch for the public (you?) very soon.
We start with small limits the first days, but we are able to raise them.

Looking forward for your replies


Kind regards

I think you have the perfect concept and only need a little advice, the game is very interesting but it will be a bit boring because there is only room chat for us activity and your design too bad that can make us bored stay long time at there.

Yeah, design is bad, they probably will improve before the final release. we can give more feedback once you launch the site. waiting for the announcement. will your token offering be same as bitdice?