Do you think coming up with new gambling site is risky?

[bwonwen2015]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

[1715391619]

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[Mr Bets]

Security is everything in the gambling niche. If you fail it, you owe people's money, bot just initial investment. Timely service comes at the expense. Legal part of the question is one of the top doubts, who knows why Satoshibet is closed.

Bitcoin gambling could take more casinos, but I doubt about the income, the niche is tiny and being "sexy" (as Prof. Michael Porter like to say) it attracts too much industrialists.

[MRKLYE]

I think that the BTC gambling ecosystem is basically saturated at this point. Unless you have some new type of game that comes in that is fair and run by honest developers it's very difficult to get one of these started. Not to mention bankrolling a site and security on site are likely very inportant for the well being and longevity of any gambling site.

You are likely better off not bothering.. Unless you have a brilliant idea and a very well built and honest development team.

[Karartma1]

Gambling is part of human nature, taking risks is what humans like the most. There will always be a huge demand for this: Las Vegas is a city which lives on it. The major part is to have enough funds to start and to comply with the law, the rest is only profit because people will eventually play.
This forum is full of gambling sites and lots of gamblers come and go likewise.

[nydiacaskey01]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

This may sound funny, but coming up with a new gambling site nowadays is a gamble already. There's a lot of gambling sites out there and each have their own followers. A new gambling site is welcome but it needs to have new innovations that other sites don't offer.

[fullypak]

Gambling is part of human nature, taking risks is what humans like the most. There will always be a huge demand for this: Las Vegas is a city which lives on it. The major part is to have enough funds to start and to comply with the law, the rest is only profit because people will eventually play.
This forum is full of gambling sites and lots of gamblers come and go likewise.

Yes, what you said is 100% correct. Gambling industry never goes off but type of gambling games may go out and definitely gambling houses will come up with new type of games to attract more people. But I see three things are very important is Legal issues, security and people trust. If you can provide these three correctly and other things like service oriented issues still people accept it.

[shogdite]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

When starting a new business venture whatever area that is in then you will need to take risks. If there was no risk to earning a shed load of money then everyone would do it. A few risks I can think of, you pay for a dev or team to create your site but do you really trust some random internet dev to not cheat you?

You need to have a very big bankroll not just for the site but for advertising, staff and fixes, servers etc etc The risk of the dev not really knowing his stuff and leaving an exploitable site which can be exploited and reduce your bankroll. As other said the security could be lax and may lose everything.

Spend quite some time research before jumping into anything you're not 100% about.

[btcdevil]

in every business their is a risk, without risk their is no business,

in my view if you start a sports betting site will give you more benefits and profits , but for that you have to be very clever and as everyone said security system is first preferrence. but in sports no one can cheat with the bets ya but they can hack your site and steal the revenue. because sports betting is getting very famous and still their is no bitcoin sports betting exchange site like betfair.com. if you can generate then i think you will double your bankroll in 12 months.

[tn211]

in every business their is a risk, without risk their is no business,

in my view if you start a sports betting site will give you more benefits and profits , but for that you have to be very clever and as everyone said security system is first preferrence. but in sports no one can cheat with the bets ya but they can hack your site and steal the revenue. because sports betting is getting very famous and still their is no bitcoin sports betting exchange site like betfair.com. if you can generate then i think you will double your bankroll in 12 months.

Yeah I am also wondering why is sport gambling so populair now a days is because no one can cheat.
For me I don;t like playing online like dice or something with the pc. I prefer going to a casino that I see them doing it.
So that I can control them. Example poker is a player vs player game. So you can win there more.

[WhatTheGox]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

Of course its risky, everything in life has risks you cant avoid it. If you mean coming up with a totally new concept thats even higher risk aswell.

I would ask yourself what is the competative edge you are going to offer the market, why should they use you vs others.

[katerniko1]

everything in life is a risk,but with opening a gambling site its smaller risk then playing on gambling site so if you have a good bankroll you will be probably ok.
regards.
-Katerniko1

[HostSurf]

Every business comes with a risk. If you have enough funds you should be okay, security is a high risk that you'd need to provide for your gambling business as well as for your players. You don't wanna start a business and risk losing it.

[edmundduke]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

It really depends on the scale you wish to come out and your expectations. If you just want to make a gambling site, offer a low max payout and dont want to become a "whale's" playground then the risks are rather small. The risk would be "Making a site + a game and since the max payout is low you would not loose much, it would most likely even result in a profit).
if you wish to become a big site, now that's a whole new story. I would classify it as very risky but there's too many factors for it to lay them out here.

[Snail2]

Your risk depends on what kind of gambling site you want to make. Yet another dice or "binary options" site probably not going to be successful, something with an interesting unique idea, good (and secure) implementation and great marketing will have a chance.

[asuryan180]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

If you have funds then it is even risky to hold them with you .
A very well promoted gambling Website (magicalDice.com) has come closer to shutdown because of their Dev's cheating with them by gambling over with their alt accounts.
However, there can also Legal issues and risks depending on which country you are residing /running the casino.

[freedoge.co]

you need something outstanding, i can imagine a good poker only site with online tournaments and good managing and promoting can be a great success

[ranochigo]

It is quite risky. Gambling sites requires large bankroll to attract gamblers. Without it, you need investors. For investors to invest in your site, you need  to make sure that you are trustable and the sites do not have exploit. Primedice got hacked for a few thousand BTC owing to an exploit. Putting those aside, you need to also deal with the regulations on online gambling and Bitcoin.

[enhu]

Business always has  the risks but will also be profitable if you did it right, why do there are lots of people creating bitcoin gambling sites? because its a good business.

There are those who goes down of course. You should start with having a good reputation in forum though before launching it, you don't wanna end up having red trust while promoting your gambling site which people tagged it as scam because that would be a sure an uphill battle.

[michinzx]

Security is everything in the gambling niche. If you fail it, you owe people's money, bot just initial investment. Timely service comes at the expense. Legal part of the question is one of the top doubts, who knows why Satoshibet is closed.

Bitcoin gambling could take more casinos, but I doubt about the income, the niche is tiny and being "sexy" (as Prof. Michael Porter like to say) it attracts too much industrialists.

security is crucial, but not the most miportant factor in the risk of creating a gambling site. given that you will have an investment in creating the site script, hosting it, advertising, etc, you need to be able to attract people to play at your site consistently. security should be a given in anything involving money though.

[SyGambler]

Do you think coming up with new gambling site is risky?

If one have funds is it enough or any other things need to consider before starting new gambling site?

there is for sure a risk part but that depends on many factors like are you coming with totally new game ?? cause people may not like your new game
when you create a gambling site like dice , roulette and slots ,,etc you need to manage your bankroll well
if you manage your bankroll the risk part will become so small , and you are investing your money in good shape