Bitcoin Forum

Hello guys!

My partners and I are about to launch our own casino, and any of your advises would be extremely useful for us.
Being right in a starting position we care the most about a conversion, and have some doubts about whether our targets are achievable or not.
For instanse, we've analyzed a statistics (i.e. from dicesites.com) for the last year and found  that some of the indicators reached their highs and started to decrease significantly since September 2020.
Actually the situation is quite similar for several casinos, so we afraid that it can be a result of a common market condition. For instance, daily bets fell sharply both for bastadice and yolodice, and the last one closed altogether.
So what are real figures in this sphere? How many people play in which casino? What's the average amount of a bet, how many bets does an average player make?
We are looking for people who are really qualified and experienced with launching and/or operating casino. Even though we are limited in our budgets, still we are pretty sure that clear understanding of the real situation and qualitative consulting are the keys for our success, so should you decide to help us - we are happy to reward your time spent for us, in so many different ways.

BR

Let me start with you should hire someone who's native language is English so they can proofread anything you're going to post. Lot's of sites noticed decreases in betting due to an increase in btc price. I had a few conversations and came to the conclusion users we starting to trade more vs gamble. With btc now on the decline, users may start to gamble a bit more.

When asking for real figures then theres no precise number because lots of factors would really be affecting and we know that not all day would be a good day on any business where there are really times which there are lots of players playing and then suddenly becomes less due to some unknown reason

but we can make out some presumptions like bearish market or simply other good competitor had just recently launched or just simply players doesn't really like
to play in a particular time.

When making a business then its not really be giving out some assurances for you to succeed.There would be lots of considerations to look upon.

I don't have too much knowledge surrounding Yolodice, but talking about Bustadice/Bustabit, there were some huge whales active in Q3-ish of last year that are probably skewing the data that you collected. Not only that, Bitcoin started it's historic climb in early October, 2020, which is right around the time most Bitcoin online gambling sites started to see a decrease in daily active users.


I do not own an online casino, nor have I ever launched one, but I do work with many of them. My educated guess is that daily active users (or some variation of that metric) would give a fairly good indication of whether or not things are going well. Other important metrics probably include Net New Depositors, and if you intend to crowdfund your bankroll, Unique Bankroll Investors.

Good luck with your project! Make sure to contact me to get listed on my website :P

To add to what GamblingSiteFinder wrote, I'd also point out that in the ol' days public stats were the norm, while these days they're the exception. Also you might want to weight the bet by the USD price at the time, a lot of the old stats were when bitcoin price was a fraction of what it is now. And thirdly, I'd completely ignore the raw "bet count" as 99.999% of all bets are just dust bets by bots and often is uncorrelated with actual activity.

Let's also not forget about small time gamblers which they don't want to spend too much fee just to deposit in a dice site. I am not an owner of a dice site but my experience gambling on yolodice is quite positive and they also accept cryptocurrency like dogecoin and other altcoin that let you pay small fee but sadly they are now suspended. The owner did explain the reason why they need to closed the yolodice. Not that I defend yolodice  :).

It all about marketing really despite the harsh competition of the casinos in crypto. When most of the casinos we see today doesn't just have dice game, they also have poker and lottery. If you are on a limited budget like you said, it might just be harsher.

There are few casinos that only focus on a single community. Narrowing your target may help like for example, a dice site only for dogecoin holders. These are the kind of holders that bet for the price of doge to go up, they are gamblers in nature already.

Whenever the market starts to be extremely bullish, people who gamble with BTC may hold a little bit because they know what they can make money even by doing nothing on those days and the time period you are talking the price went from $10K to $60K, which means the average wagering amount supposed to be decreased by 6 times.

The secret is:

-Adverstise
-Make a good refferal system
-Advertise
-Advertise

one one more: - Advertise!! :)

Hey guys, thanks for the answers!
Correlation with bitcoin rate growth sounds reasonable, even though it's just an assumption. The bitcoin commission cost rise for the bitcoin input/output seems reasonable as well, but is this the only factor? What else can affect?

As for the fact that we shouldn't take into account the statistics on the number of bets due to bots: if a bot is set up by a live user, then for us he is the full-fledged player. Or do you mean bots can be launched by the casino owners themselves in order to increase a statistics?

Regarding YoloDice: don't you find it suspicious they just closed and didn't sell their casino?

Data on the average number of users and the average bid size would be also very useful to us.

We understand that some information may be sensitive, in this case, write to us in a personal, we will be grateful and ready to cooperate :)

Some gambling websites do that, not only to increase general statistics and keep a certain game on, when most users aren't online but also to create an illusion that there are a lot of people participating in certain games and that they spend a lot of money on that. When a gambler sees that someone spends hundreds of $ on bets and can win thousands - that becomes a catalyzing factor, encourages players to bet more.
But those bets and wins/losses aren't real, that's why it might create some inaccuracy in your calculations.

Maybe they are looking into it, there can be many theories as to why they closed. One of the possible explanations is that they lost the investors due to decreasing income and can't keep the website running.
Another theory, maybe, some competing websites paid them some good money to stay out of the game, but I doubt that really happened, to sell your idea and business like that one must be really desperate.
Also, we should consider that what Ethan and Scott are saying is actually true - they want to have some life and are tired of this business, but they consider the possibility of future development of a new project, which is why they don't feel like selling anything.

We don't know their plans but who knows, the reason why they are not selling is they may come back in the future? They are just taking a break and re-align their goals in life. In terms of bots, some can be launched by the casino owners themselves especially those who want to attract players. But sometimes it is easy to spot if the site is just faking it. But if you are asking for figures here, this is quite hard to extract. Maybe one way is to visit known dice sites here and check their stats. At least have an idea how many users are playing and how much they are betting.

We tried to reach Etan but Yolo’s accounts seem to be left. Anyway it would be great to have many different opinions )

This is probably the best advice, some gambling sites stopped promoting or their advertising campaign when they are already running in profit, marketing, and advertising is very important the competition is very stiff and gamblers are on the look for another gambling sites to play and marketing is one of their criteria, just look at 1XBIT they have a bad reputation but they still attract a lot of new players because of their marketing,

If you're not fully invested into the idea of launching a casino, you probably should rethink doing it. Just look at the gambling section on this forum to see how many projects are stillborn these days. They appear here, some people try them out, and then everyone forgets about them. This happens even if the games are provably fair, the design is nice and the owners are responding actively to requests. It's  very hard to stand out unless you already have a project with positive reputation or can involve people with good reputation to manage your project. You'll also need lots of money for promos, a signature campaign and other things like that if you don't want people to forget that your casino even exists. It's a tough and highly competitive market, even without taking into account what you've mentioned about the dice statistics.

Please just respect what Ethan says in His Final message of closure from the Yolodice Ann Thread.


I think there is only portion of them that wanted to stop the site but the biggest part is just resting.

Maybe best to just try to let them have their silence  and make your own things without Yolodice being mentioned.

Well, I would suggest you make it user-friendly, so that the users may not face any issues while using it. The domain name should be easy and related to the theme and nature of your casino site. Hire some good & professional designers who can design an attractive website.
Also, use referral code policy and signup bonus. The casino should be for both cryptocurrencies and Fiat and yes of course the KYC policies must be clearly mentioned on the site. Make some good marketing strategies. Lastly, ensure 24/7 live support for all the users.

Well, there's that - the sentiment change in line with market changes, you can't do much about that. But I think what's more important is to think about how you can be different, and who your clients will be. This may be part of that research but still before doing/building anything you should have a clear idea of what makes you unique above all the other casinos. Otherwise, you'll just be another failed casino...