Bitcoin Forum

 Do you guys think bitcoin gambling websites are getting ridicilous at this time? I mean there are a thousand of them everywhere and some of them are known and make maybe a decent amount but most of them seem to be craving new players and do not make decent money out of it.

 Do you think the problem is there are a lot of bitcoin gambling websites and they do not share the gamblers equaly or do you think the websites that are out there are not good at something (be it functionality or design or marketing) and any great website that does all of them correctly gets big (dicebitcoin did rise in profits very quickly until it crashed and burned)

Only time will tell, have seen some gems, like the one I am promoting now. Simple 50/50 chance, but effective. But saturation comes before failing, only the great and well organized will survive over time :)

There getting saturated because it's a reletaviley easy way to get people to give you their coins and people want to get rich quick.,

Better get used to it because as time goes on more and more will pop up. Just remember that the house always wins, but most casinos probably don't have any longevity and will turn into scams eventually and it's because of this why casinos take a very long time to build trust and it's those ones that will make the big money in the long run.

I'm just talking sportsbooks here. The good books will survive and prosper. Most of the smaller ones will go under. It's tough to break into the business right now since the good books are becoming aggressive in increasing their player base.

We are not even close to what you will see in the next few years. It's not saturated at all actually at this point, but it will be.

 So what do you guys think if a new casino opens today what do they need to do to get big and become the biggest?

 I firmly believe in a big wallet , if you can buy big tech company to do a great website and pay up big numbers to marketing than it would be easy to get the lion share of this market. We are talking about probably couple millions bucks here at least.

There will not be a shortage of people gambling, everyone will gamble a bit at some point. For a bitcoin gambling site to profit and grow, it only needs to offer a wide variety of games and be honest. When more hear about a site playing honest and paying out, turnover will grow and so will profit.

 There are a lot of people gambling but it is the 'wagered' amount that counts , the important part is the more you have wagered the better , if one casino has one whale that spends 100 btc a day and another casino has 1000 people that spends 50 btc a day in total , the one with only 1 whale might get the bigger share (of course it does heavily rely on luck) the house edge is the profit a casino makes in the long run but there are some lucky strikes that changes it like just-dice was not close to %1 if I remember correctly.

 So long story short , there are a lot of people who gamble but how can you attract the big whales and get your wagered amount substantially higher than all others. Is there something that is missing from current websites?

 I believe the dice is not going away anytime soon but the casino idea is not bad , maybe keep it simple with dice/poker/slot trio and that would be it. You can use the slot as free giveaway that primedice uses , for everyone who wagers (win or lose) you give certain coins (not bitcoin , casino coin) and they can use slots with them and might win big. Something like that would do.

 Also marketing , tons of marketing , keep it in every little place you can find about bitcoin . All gambling review websites , all faucets , all forums and specially a signature campaing here. After 50-100k spent , you are one of the big ones. Isn't there a way to do this without spending that much? There must be , some of the big ones did it , but I don't know how :D

There are only a couple of legal websites. It is in a very early stage. How many forums/blogs/ecommerces there are on the internet compared to bitcoin gambling websites 0.001%?

If they are all making money then by definition the market is not saturated.

I think there is still a lot of room for innovation, sort of how we moved from on chain satoshidice, to off chain, to crowd sourced investment.

As many have pointed out, the key challenge is the trust level of the operator.  This was where dooglus reigned supreme and seems to be the main failing of other sites, many of which are a bit sloppy if not outright scams, and by scam I mean even more rigged than the satated house edge.

Why is OP asking this question? are You looking for the holy grail? why should some one tell you?

 This is a mere discussion , noone forces anyone to answer questions nor discuss them. I had couple of questions , asked the public and got answers , like a regular forum topic.

all is fine but you didnt answer my question

 The reason why someone should tell me has been answered with the previous answer , for the holy grail , I have mentioned a lot of money should be put into it , and it is obvious I do not have it , hence the second question is answered as well.

I am sorry but what exactly is "Satured" ?

 By satured I mean harder to get into , the more satured a business is the harder it is to get into.

wrong! a lot of money will not help. but more thoughts will help, new game ideas for example. people dont want to see more dice sites like JD or PD and there is only one guy who can offer a dice site that will not need much marketing but will run like hell. I am sure you know the name of this guy.

I completely agree with addi that the market is not saturated at this time (although I am biased), and would add that we will see Bitcoin Gambling consume more of the fiat gambling market moving forward (assuming Bitcoin survives). There is a plethora of reasons why Bitcoin Gambling is better than fiat gambling, so listing just a few:
- Cheaper transaction costs
- faster sign up and play time
- better privacy
- better transparency of fairness
- much better odds,
- more innovative games
- More power to smaller players and the community than the corporate giants (thinking in terms of the Bitcoin free market economy deciding what wins and fails like the emergence of bankroll investment options)

Even if you believe Bitcoin Gambling only grows as as fast as online fiat gambling (which is hard to believe IMO) we would still be seeing a 10% growth a year.
http://1.bp.blogspot.com/-OCXP1Hp8RLg/UGHudzDtxHI/AAAAAAAAFiQ/3QfznlOHy30/s1600/online+gambling+market+size+2012.jpg

IMO no.
For all the gamblers around the world, only a part of them are doing online gambling; and only a small proportion of them are doing bitcoin gambling.

You are making a case for yes. The fact that so few people are bitcoin gambling makes it more likely that the market is saturated.

The market is bitcoiners. Its estimated there are less than 1 million people with 0.1 bitcoins or more, an ecosystem so small can not support a lot of operators. Yes if a new operator comes along and does absolutely everything right and has a huge marketing budget they can still succeed, but most of that would be taking players off other sites not new players to the market so that is still a saturated market. That all changes if bitcoin adoption skyrockets.

Gambling sites can innovate too.
All sites don't have to be dice based.  :)

A majority of those thousands of sites are shitty.  Eventually Quality over quantity will take effect.  I think the site that has live dealers for blackjack and roulette are fucking awesome and will survive.

I haven't found too many live dealer bitcoin only casinos.  I didn't think those would work for bitcoin gamblers

There are a handful, all of them use the same excellent software provider. The top four bitcoin only casinos in this list have great live dealer products. The dealers are atractive latinas if that is all you wanted to know hahaha

http://www.bitcoin-casino-guide.com/bitcoin-casino-reviews/

Aren't many of the bitcoiners expecting bitcoin will one day get mass adoption and will be a world currency? ;D

 We do not need mass adoption by merchants or everyday people to get gambling websites high level of wagered amount . Only gamblers would be more than enough.
 
 Think about it , if sealswithclubs gets half of pokerstar players , even couple of big names , and they tell others how easy it is , than its all over,  every gambler out there will try to get a piece of it.

 There are very strict answers that many people here agree as I can see.

 - It is not as satured as it can be , there are still a lot of room to grow.
 - You need to build a trust , if people trust you and your website , than you are good to go.
 - Marketing is nothing if you are not known and trusted , you can spend awful lot of money to gain popularity and someone very high trusted elite member of the forum just simply say you are good or you are bad and overcome all of that marketing budget with one single post either raise you or belittle you.