Bitcoin Forum

I have estimates on the costs to have the site developed but my question is rather what would be the minimum or a safe amount to have for the "houses" bankroll ? keep in mind a new casino i would be surprised is going to be busy as hell right off the bat or even succeed at all with all the competition im just curious on some expert opinions. Thanks

Start with easy numbers, then you can scale it up to assumptions that you feel are realistic.

Only you know what the wager amounts and payouts and house edge would be, so it's tough for any of us to give you real profit numbers. BUT, we can help you think through the starting point.

Let's talk about 1 person (on average), what would 1 person be willing to bet in a single day? 1000 satoshi? 10,000 satoshi?

Let's assume they're making their first wagers with bets that offer them the best odds, so you're talking about maybe a 49-45% probability of a win, yeah?

That would equal a 49-45 or 4900-4500 satoshi payout per person per day...based on our assumptions.

At that level of individual play you're looking at up to:

• BTC0.0049 to bankroll 100 winning players per day
• BTC0.049 to bankroll 1000 winning players per day

Just an example, but that's how you can start thinking about the assumptions. Once you dial in the assumptions for what you believe is most accurate you'll get a good start on a bankroll figure...then adjust as you get things moving.

Will you share your casino with us here?

Thanks for the advice i was concerned i would need alot more  i mean i was gunna have 10k worth of btc to start(thought i would need alot more) but imagine its going to be a slow start but who knows, either way it not an investment where im putting all my eggs in one basket i have other successful projects and am prepared to accept failure but i would love to give it a try and go from there but sure i would be willing to share the casino when and if i pull the trigger on it and its kind of a side project i wish i had the skills to code the entire thing but its over my head so i will need to get assistance with that but i think i have figured that part out. biggest concern is having someone i trust so that the site is secure and they don't leave a back door to go in a and take all the coin at some point. but i understand web development enough that i think i would be fine i can over look the code and understand a good bit. but thanks again for the advice that helps me break down thought process.

It seems you do not know much about this space. If I were you, do not try to venture into it as you are bound to lose money. The casinos you see running were not started by one individual, but experienced businessmen who know what they are doing.

thanks but i have many successful products this is only a side project? did u read every thing about all my eggs in one basket? If the business were to fail it wouldnt change my current lifestyle at all i have 2 very successful businesses and a couple small side investments and i was interested in investing in this but i was just asking an opinion. i never start something im not prepared to fail.

I think you should needed at least 10 bitcoins to have a bank roll for a bitcoin casino because it is not that cheap to have a bank roll because a bitcoin casino really attracts a lot of players or gamblers that are interested to make money so if you want to make sure about the winnings and possible loss then you should prepare at least 10 bitcoins that is good for months.

Starting a casino is tough because no one will make significant deposits if you are not established and trustworthy.

Also, if you do have a good design and attract some whales they could bankrupt you. There are people that have won 100s and even 1000s of BTC gambling.

The example is totally flawed.
Even now there are players who do a 0.049 BTC bet with no hands shaking. For got sake we are talking about 200$, that's taxi money.
If we're talking about a serious casino with medium traffic compared to the existing ones be prepared to have at least 100 times the amount you mentioned.

It was just a starting point. He did say average player, and I'm actually pretty sure that once you take the hundreds of faucet testers and lump them together with your $200 player, you might end up with a low average per player. Take into account how time a casino will need to build trust and reputation before attracting a $200 wager player and you see that small average amount even likelier for a brand new casino.

I think your bankroll has to take into account a LOT of other factors though. Especially if you're the sole bankroller. Like habbear said, estimating an average payout you might bleed based on # and type of players you expect. I would add your risk appetite for variance. Yes, house eventually wins, but you may experience wild variance against you early on. You should prepare for that. Limit max win? Trigger a lower max limit/jackpot every time it is hit?

You need a minimum of 100btc if you plan on running a good operation. Anything less than that and you will struggle. I am assuming it will include a sportsbook/casino

I am not sure if you have considered this option or not but since you are on the similar track, I would suggest you, have a look at the investment opportunities in existing casino's bank rolls. Satoshidice used to allow users to invest in their bank roll (I don't know if they still allow users to do that on their new platform or not) but that might be a good idea if you are planning it as just investment unlike any plans to introduce your own games in the casino.

You may also consider promoting an existing Casino's affiliate program to earn referral commissions. This is safe because there is no overhead and no risk of violating any gambling laws. You can take the money you plan on investing in your casino, and just buy advertising promoting your referral links. Many casinos offer 10-50% of the house edge or profits for referring new members.

We have listed our favorite casino affiliate programs on http://coinreferrals.com/ (http://coinreferrals.com/programs.php?bitcoinbarrel)

100 BTC is heavy amount I suggest him to start his casino from 50BTC and it will be enough for that, because 50 BTC is the starting investment after then he will continues this business by the profit which he earned, I hope this business makes you so profitable that it will spread to international soon and I wish him best of luck for his business.

If I was you, I would instead work for, as an affiliate that is, other Bitcoin casinos first. It is important you know how the business works before starting a venture like this. We are talking 100 Bitcoin if you are planning to compete with the big players. In this case, all it takes is one slip-up to lose everything... and I think that is not something you would like.

I believe this is a good idea, and you should do as HabBear said by starting with easy numbers. Another thing is that of coding the site. Since you said you need assistance, I will suggest that you find someone with a good reputation online. There are even freelance websites like Upwork, and it’s good to check it out and find experts with good ratings, lowest 5 stars (100% success).

it depends on how big your casino would be. I think that you can start with 10 bitcoin without any problem. If you are really good in this field, you will attract many investors who want to invest their money in the bankroll. Crypto-games.net has done a great job and they have collected many bitcoin from investors for their bankroll. I assume that they have about 2000 bitcoin for the bankroll :D

for now, if you have 100 btc, i think it is enough to start a bitcoin casino because with the price is high, you can have a good gambling website with many of games that will attract many people. but you need to thinking about make the site is secure for your member from the attacker so they will satisfy while they are playing games.

I am impressed by your thinking and future planning. I wish you best of luck in this matter and I hope it will be success not a lesson. At times, you may have to face difficulties but do not change your goal, change your path. For web development, you can contact trustworthy companies who have done such projects and can ask for their assistance whenever you need it.

For new casino you only need ~50BTC as bankroll. If your site attracted many people, then it wolud have better  add more on your bankroll. Good luck with your project!

If you can't even work that out then you have no business running a casino  and that is the hard honest truth.

You don’t actually need much cash if you have a good manager, though its capital intensive it would surely pull in more funds for you at the end of the day and you would be glad you did, though you should careful of legal claims

That's something I've done slight research, designing a full-unique script would be expensive, The coders and graphics would require at least 3-4 thousands if it's of good quality (and that's from cheaper coders and designers, for something new - with few unique games, and importing the rest from game providers, Domain can be very cheap or very expensive (for example stake, which is VERY expensive).
Hosting isn't a big fee, advertising would be the most expensive possibly for several BTC's, considering how saturated the market is, there is a need for something to attract new players.