Just my opinion: You're making things more complicated than they should be. But I've never used counterparty (and have no intention of trying it) so I really don't know. Get your escrow and do something like an ICO (look at the altcoins section to get an idea.)

Your casino and website are not valid collateral because you would not be giving control of them while the lender awaits repayment.  If the site was making something now, that might be valid collateral, however when you use something as collateral, you have no use or control over it unless you go to a bank for the loan.  No banks here, sorry.

BetterBets.io costed under 20k$ USD to build, which is 31.75BTC today and BB is the most successful MoneyPot casino (highest wagered). Why do you need that much more money to build your own app, and how will you get the money to repay everyone? You would need 8000BTC wagered to repay from profit alone, assuming you have a 1% house edge. Also, what are your selling points, or why should I play at your casino instead of JackpotRacer, Bit-Exo, Bubblesbit or BetterBets?

There's this X factor that you can't really confirm, or maybe even more than one variable that you have no control over, plus any number of things that can go wrong, or you simply won't have the traffic or volume that you need. What I am saying is that there is something out there that can make or break your venture.

Business is a gamble. Good business people have a decent business plan, yet they can still fail. Gambling websites are more of a gamble especially in this bitcoin world. You need players to trust your site and you. And since you are accepting bitcoin you'd need to either have very good explanations of how the game operates or some formula that is easily verifiable, such as a provably fair method.

If you go with the softswiss games, although I am NOT familiar with any of their games, I am willing to bet NONE of them are "provably fair", and with that, you are not going to get ANY players from this forum. You'll get them where all the other casinos are getting them, somewhere out there, poker forums, or marketing and advertising on other websites.

As for risk versus reward, you already know that (or you should). Low risk, low reward. High risk, high reward.

If you're asking advice about how to operate a "normal" non-bitcoin casino running on softswiss software or platform, you're in the wrong forum. Merely accepting bitcoin does not make your casino a "bitcoin" casino that isn't considered "traditional".

Any game that involves dice, decks of cards, or coin flips MUST be provably fair. Or as close to it as possible.


As for your "set aside some money", that's where you can contract with one of many bitcoin escrow "agents" here. There's a handy list in the "Service Discussion" subforum.

Bitcoin Forum > Economy > Marketplace > Service Discussion  > Bitcointalk Escrows - Trade Safely!

What will happen is your investors send money to the escrow and he holds this money and dispenses it as the investors wish or according to some form of consensus between them and you, and payment goes directly to whoever needs to be paid. GPG comes in handy here, as well as some basic knowledge of how bitcoin works.

You'll want one who is trusted, has handled more money than you are asking him to hold, either collectively or at any given time, and has some experience with gambling, both as a player and as an operator. Escrows do not guarantee that businesses or equipment will be profitable, they only guarantee that the funds go to where they should go, and buyers and sellers (in the case of trading) are satisfied with their transactions.

See, if the money is not in escrow, then what is to stop an investor from pulling out? Unless it is allowed in the terms of investment, you don't really want 100 BTC being funded, and then a few of them decide they don't like it anymore and your funds drop to 10 BTC. (Or below what you need to even start it out.) It's also a risk they have to be willing to take.


P.S. The last guy on that list will charge you a 5% fee, that list is not updated often.

You know, I was about to do just the exact same thing as the OP. But I'm taking my time thinking things through. What I'm doing right now is gauging interest over time, and this time is several months.

For the OP, I have the advantage over a couple of the points mentioned by others, the ones said by MartinL specifically, but I'm still not pushing through with the idea until I have more bases covered. (I dare say I've got all of those bullet points already.)

So even if you have everything going for you, you still may not want to do the idea. At the very least, be willing to refund the investors, and put in some of your own money into it.

If you want to be "General Manager" of a bitcoin casino, you are probably better of applying to be "employed" by one.

Good luck in your venture.

Personally I am not willing to invest at all for the reasons outlined in my previous comments. Another problem that has been mentioned but not really addressed is the counterparty risk you pose. Plainly speaking, counterparty risk is the risk that you run away with the money or otherwise don't honor the contract. It is unlikely that anything you say or present–even a fleshed out business plan–will convince me otherwise.


That is my point: It's a bad deal. You have little to offer investors and consequently investors have no reason to give you any equity.

For most of us, it would be an actual, legitimate, fleshed out business plan. Not one-liners, and not a paragraph. A real one will be a somewhat significant length (I think the shortest one I've seen so far that actually covered all the bases was around 25-30 pages). Not only does that help the potential investor get a better understanding of your business, but it helps YOU show that you know your business.

MartinL refers to your lack of experience in this sector, and that is exactly what the business plan is designed to help prevent: in writing it, you do research, you show your prowess in determining your pros and cons, your potential issues, risks, growth potential, etc. "X site on average earn $y" is irrelevant -- there are well over 100 casinos that failed for every 1 that was successful. Making a claim like that is like saying "Holiday Inn is a multi-billion dollar company, as is Hilton, so I should be able to make at least a billion," while ignoring the literally millions of failed hotels.

I feel like I should preface my comment by stating that I do not wish to dissuade or discourage you from your implementing your idea. Taking initiative is more than most people ever do and your enthusiasm is admirable as well. But your expectations are unrealistic. Consider it tough love.


If I had to invest in your venture I would indeed want close to 100 % of the equity. Startups that receive external funding bring more to the table than merely a poorly thought out idea. Frankly I do not see you offering anything of particular value:

• You cannot program the game.
• Ostensibly you do not know how to market the game.
• You have no experience in the gambling sector aside from being a gambler yourself.
• You have no experience running a business in general.

Yet you want half of the equity, which is worth roughly $30,000. What exactly do you offer that warrants so much money? Why should an investor give you money when he could hire a developer himself and keep all of the equity? Since you do not seem to have any relevant qualifications, virtually any other person would be equally qualified or better.


I believe you do not have much relevant experience at all (see above).

You have some misconceptions about failure: In my experience, the majority of successful entrepreneurs have at least some history of failure behind them. Perhaps it is required to gain the necessary experience, perhaps it is just a matter of luck. In any case there is no shame in failing provided one learns from it.

That being said, you are not competing only with inexperienced or failed entrepreneurs. Successful entrepreneurs often do not stop after one venture. They move on to other projects that may also require external funding. All other things equal, a reasonable investor will prefer someone experienced.

Investors are not altruists–at least not in the context of investing. They are not responsible for giving you the chance to gain experience and they do not care about you unless you offer them something of value.

You were given lots of valuable advice in this thread. Whether you act on it or continue to dream of an investor just handing you $60,000 to play with is up to you.

Again, this time more frank: Nobody is going to give this kind of money to an unknown and inexperienced person like yourself, let alone on those terms.

That does not mean you cannot realize your idea. If you are serious about it, your best course of action is probably to learn how to write the game yourself using MoneyPot. Even if you currently have no coding experience you could easily learn how to write a basic game within a year.