Bitcoin Forum

Hey,

i just want to mind mapping what i need to create, open and promote an own online pokerroom for cryptoc.
What does it need from beginning to the end? What can help to rise a project like this and what partners or people i need?

I played over 10 years profitable online poker on different plattforms and live. I just think about open a new concept, or even a better in my eys.

What costs would it have to rise up a online room - ?

Give me everything you know about or think about!

Thanks!

You definitely need strong developers team, carefully chosen Project Manager and Team Leader.
You should make full concept of your service.

I guess even using bitcoin you should find strong partners in gambling or betting area, who could help you with legal question.
As i know, there are several casino and poker blockchain  projects already.

Anyway, good luck!

My problems are just how to create it and how to legelize it.
What amount will be need to open something like this?
Bring players and the concept are known so far and would be my "different".

all in all it needs a lot of money to create it and to advertise it. many tried it and they closed very soon

a cheap way would be poker mavens software package but you would still need a lot of advertisements

my advise for you is just stay with your way to play poker and stay profitable as you did for 10 years

good luck

I can tell you from experience that its a dog eat dog industry.

I was early in 2013/14 but I would not join nowadays.

You  could contact "SoftSwiss". They are the leading Crypto-Casino supplier. White Label solutions, Turnkey and also Betting-books.

If you want go to the poker area, microgamings.co.uk is also a good option to have contact with.


BUT AGAIN:

It is very expensive. The price for developers, royalties for games, gambling licenses in Malta/Isle of Man/Costa Rica.....


Look into it, but you will need at least 1 million $ for advertisement alone.
Its not enough to buy the software for 25-100k$

I would not plan with buying software - what does it cost to built a own software? What people would need this?

It all depends on what you want to do. My personal experience tells me, you NEED a normal Casino floor, slot games, sport betting and then poker rooms.


If you look around, other casinos got well over 600 games. No-one can play them all, but its industry standard. If you don't got that, you are not taken serious by customer  for some reason. Big is not always better but standard in the case.



If you really want to go from scratch plan a bit like this:

All in USD

40-60k for a running backend with wallets (i assume multiwaljlets is best)
10-20k for the frontend
min. 2k per game maybe more

And again, at least 1 million for advertisement.


Cost of Staff:

Then there are cost of staff. You will need a good casino manager. Experts are rare and really good experts that are in the industry since the 90' cost easily 100k/year plus Boni.


 Other Costs:

Rake of at least 20% is standard in the casino world.
Boni for deposits and Special Rewards for trusted players are on ave over 30%  (Deposit Bonis can go 300%)
Affiliate costs
Programer royalties of around 10-20% (even if you don't buy software and let it build from ground, programers take royalties for every $ earned with their game)



This is just an overview. I have spend a long time in this industry. You can now believe me or call me crazy. But this is what you need to calculate :/


And also please consider, that its not just crypto casinos you are competing with. The big boys of the fiat world are transitioning into crypto as well. And they are in the business for more than 20 years....  They can always pay more for marketing and service than a single or small group is able to.

Thx for that listing!

My concept would be a bit different to normal online casinos. I know you know how the standard works - but i think about something new so this is why i want a serios discussion about this.

Im looking forward to it, if you manage to make it happen :)

Good luck my friend

Thx. I take a long time to found the concept - even for me i want to hold it secret. I know how it sounds like, but i still believe to know what the players miss.

Sure i see more possibilities to start somethink like this in a smaller way.

First of all, what is your background and how will you contribute to the project? I'm assuming you don't have tech background, so first off partner you'll definitely need someone who can be your CTO , and also someone who will be your Security guy (CSO).

I think developing something basic could easily cost US$50-100k if completely outsourced.

However, I think you should consider that you have plenty of competition already as a poker site (even if you think the USP is bitcoin payments - there's also plenty of btc only poker rooms), so one thing you should think hard about is how to DIFFERENTIATE yourself from competitors and what your UNIQUE SELLING POINTS are.

Just my two satoshi worth. Hope it helps!

P.S. If you think you'd like to collaborate on this , PM me and we could work smth out.

Possible to crowdfound it with token or something like that?
Sure the costs for this project are extrem - but my concept also aims in a different and more player near way, im sure i can find enoght investors even cause im knowing enoght people for that.

My problem is i cant handle all alone, at least i do not really know what and how many partners i need for a team.

 ;)