Thanks Blazr for the guidance.....

My understanding as per your info. I need to have a wallet to store their bitcoins that I earn when user deposits bitcoins, so I will setup a wallet on my server and create 10000 addresses which will be provided to different user to deposit.
- What we do after 10000 addresses are used ?? we generate another set ?
- What is bitcoin - daemon with boom filter ?
- Which API will you suggest I can use to check for deposits, check balance and other info ?
- Process withdrawals yourself manually. I didnt understood this ??
  Just as we deposit using API, my website user will send a withdraw request to an address and on confirmation it will deduct bitcoins from my wallet and credit the address. right ? Will it not be done automatically ??

Appreiciate your time

There is way too much content on Internet and the more I read the more I am getting confused. I have created website that allows user to play games with chips. Now I want that user should be able to buy hips by depositing bitcoins, convert chips to bitcoins and transfer it to other user, display the list of transactions etc.
Few queries still exist even after reading a lot.
1) Do I need to create individual wallet for each user or just one wallet with multiple accounts ?
2) Will I need to setup a daemon or using just API will suffice my requirements ? Do I need VPS or not ?

I dont need code but a roadmap or brief steps will be highly appreciated.