The crypto market is in the red right now, Ethereum suffering the most, but don't panic sell people, it will rise again.

A lot of people out there are looking for the real information on how to startup a Bitcoin Casino or complete betting site. So, I am going to present this short tutorial from the stand point of experience, not a mere hearsay. No doubt, gambling business is a capital intensive business venture, and it requires a lot of expertise in order to be successful in the business. Again Gambling (bitcoin based or not) is a highly regulated business in many regions. You need to have that in mind before contemplating your moves.

Having considered these important facts, I will now present you with (the step by step) what it takes to setup your own Bitcoin casino business.

1. Secure a World Class Name for your Casino/Bet Business

Name is one of the most important aspect in any business. If you get this wrong, you may regret later. I have seen a gambling company unable to fully reach their potentials because the domain name they decided to settle on was not good enough. Serious gambling businesses don't just pick any random names, they invest serious money to acquire well thought out names that will stand the test of time.

Check my other thread to learn more about gambling domain names and select from some of the best, carefully selected premium gambling domain names available for sale. There are many factors you will consider before choosing a domain name.

https://bitcointalk.org/index.php?topic=5125789

- The Domain Length - It is good for a gambling domain name to be too long. That will be it difficult for your prospective clients to remember or get used to your gambling website. You need a name that is short, not more than 8-caracters except if it is exceptional in meaning. The shorter the better.

- The Brand Ability - How brandable is the domain name? This is an important question your name must answer. Your name is your quality statement. It must be 100% brandable to enable you create a logo that will make lasting impression with your prospective customers or anyone who sees your betting site for the first time.

- The Pronounce Ability - How pronounceable is your gambling domain name? Make sure your domain name pass the radio test. How? Checks if people can spell your domain name when they hear it probably on radio. They need to be able to type in your domain in order to visit your website, so it’s critical that your name is memorable and easy-to-spell.

We have done the hard work for you. Simply select from these carefully selected Premium Gambling Domain Names that has pass all rigorous vetting.

2. Secure a Gambling License

Forget about what anyone is telling you, no gambling provider will work with you if you do not have a gambling license. Be it payment processors, software providers, feed providers, or even most Bitcoin wallet providers. No reputable one of these will agree to work with you because they too are regulated. If anyone promise to offer you a service with a license, then know it that he is attempting to scam you.

There are companies online that can help you with your gambling license. One of them is FastOffshore.com. Visit their site to find out more of the requirements to get different types of licenses. Choose according to your needs. The most popular if Curacao license. Below are some of the requirements for Curacao License -

Basic requirements are:

    Police Clearance Certificate / Certificate of no criminal record;
    Certified Copies of Passport* (the pages with photo and signature);

    Original or certified copy of a Utility Bill;
    Original Banker’s Reference (Relationship must be longer than 2 years)
    Original Professional Letter of Reference from an Accountant or Lawyer (Relationship must be longer than 2 years);

    CV / Resume;
    Details of Software including copy(ies) of software agreements and/or 3rd party certification of the RNG application and its fairness (if applicable);
    Proof of domain ownership;
    Copies of Terms & Conditions which must include underage gaming policy, responsible gaming policies, and AML policies.

The aforementioned documents are required from each and every authorized person, officer, director, shareholder, beneficial owner and ultimate beneficial owner.  

NOTE – All documents must be in English and dated no older than 30 days.

Where documents are not in English, certified English translations are required.

3. Get a Reliable Gambling Software

There are many reliable Gambling software and feeds providers out there. I am not here to recommend nor condemn anyone. However, I would like to point out how to identify a reliable gambling software provider.

Simply ask them to show you their current users. If they provide you with some well know gambling companies who are currently being powered by them, then know that they are reliable. Verify and be sure that these mentioned companies are truly running their business with the said provider.

But if the gambling software company you intent to use only provided you some stagnant or demo sites, run with your money. Serious software providers are always quick to flaunt their successful clients.

If you are able to get a reliable one and negotiate with them, they will provide all that you need. Such as, Casino, Sportbook, payment gateways, and even help with licenses.

I will be adding some more details as time goes on.

4. Cost to Build a Good Gambling Site

Curacao License cost about $19,000 for the sub-license which is perfectly okay for you

Good software vendor will charge you  between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.

Premium Domain name will take $10,000 to $50,000 depending on the name. I can provide you really great names you can't find anywhere else.

Marketing and promoting will take around $100,000. Your budget may increase and the needs increases.

There are still some other costs involved, such as hiring staffs and initial payouts. I will be adding some more details about that later.

This thing came up to my mind suddenly. As I know a currency is a transaction medium that majority of the people agree to use to exchange their items with them. If it is the case, if majority refused to use crypto currencies, what will be the consequences may occur ? And how it will affect to the ICOs ? Any Ideas?

Anyone recommend a crypto lottery to play that is legitimate? Anything in this space has better odds than government run lotteries.  Ideally something that pays 99-100% of collected funds to the winner and is verifiable with blockchain.

I have listed some of the possible ways on how you come up with you gambling capital. Please tell me how is yours and if not in there, you can share it below. This can also tells us how often do you gamble based on how you acquire your capital.

A. EXTRA UNEXPECTED MONEY
 
-Bonuses which comes from your extra payout in the office or a good Boss
-A present , Maybe birthday present or just an ordinary money giving event.
-Money picked up on the street if you are born super lucky
-Money comes from winning a competition
-Bitcoin or Altcoin's sudden increase


A. EXTRA EXPECTED MONEY

-Comes from having a portion of your monthly salary
-Earnings from a business, part time jobs or campaigns
-Earnings from an investment


I usually gamble within the category A, how about yours? 

With bitfinx shutting down its service and coinbase being priced very high which other service do you use?

https://www.coindesk.com/fake-volume-on-crypto-exchanges-isnt-the-half-of-it

this shows the real image of BTC.

Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd.

This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

$243 Trillion Debt Bomb

The record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet.

The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year.

https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix

For the true believers, Bitcoin will always have value as long as it exists.

We will be happy to work or sell goods for 1 btc even if we know the price will move in the future.

The increase of true believers, of their revenue and of their networth drives the price up because as they get older, they get richer and as they get richer, they get more bitcoins. The process takes year and increases bitcoin's strengh and bottoms.

It's not a year or 2 bear market that will chase previous true believers and new true believers arrive in the community everyday and it's pushing the price higher.