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Author Topic: Is it profitable to run a dice gambling site?  (Read 5407 times)
@1234
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December 15, 2015, 11:58:13 AM
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I wonder if it's profitable to run a dice gambling site (like dicecoin.io) ? I'm seeing that site has 30,000 BTC wagered in 2 years.. Huge amount.

Certainly it's not easy to operate, promote and maintain by one person but I can absolutely code a site. Is it worth to start?

Have a good night Smiley
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erwin45hacked
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December 15, 2015, 12:00:30 PM
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I wonder if it's profitable to run a dice gambling site (like dicecoin.io) ? I'm seeing that site has 30,000 BTC wagered in 2 years.. Huge amount.

Thats not huge amount, I consider it as a small amount because betterbets has around 20,000 btc wagered in 6 months+

Certainly it's not easy to operate, promote and maintain by one person but I can absolutely code a site. Is it worth to start?

Depends on what you will be coding , if it is just another dice site with nothing special than the others then you can expect that no one will play there. Owning a dice site is a huge thing and it is not for everyone to have
armour
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December 15, 2015, 12:04:20 PM
 #3

Wagered is nothing lmao.
I had 0.003 and went on a site, my wagered is now 29 BTC in two days.
On PrimeDice ive wagered like 50 BTC, and if I'm just one person imagine how much more people would be.
Anyway yeah it is profitable most of the time, I'd start one if I could

Mars110
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December 15, 2015, 12:06:41 PM
 #4

I think, when seen from the profit is indeed very lucrative gambling sites.


but, it can be obtained if you know about all the gambling and know how to secure your site from hackers.


because of the possibility, if you start gambling sites and you get a lot of profit there must be any disruption of hacking from hackers.

so I suggest to learn in advance about the gambling sites and once you have enough studying then make gambling sites
SyGambler
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December 15, 2015, 12:07:39 PM
 #5

I wonder if it's profitable to run a dice gambling site (like dicecoin.io) ? I'm seeing that site has 30,000 BTC wagered in 2 years.. Huge amount.

Certainly it's not easy to operate, promote and maintain by one person but I can absolutely code a site. Is it worth to start?

Have a good night Smiley

for sure it's profitable , but you have to do many things like you have to advertise and make the site unique
the market is now full with dice sites and no one will try new sites unless the new site offers something special

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December 15, 2015, 12:08:55 PM
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Anyway yeah it is profitable most of the time, I'd start one if I could


You cant just make a dice site and put it there with no effort at all and hope alot of people will come to your site and play there. It require alot of marketing and effort because primedice is dominating the market for the gambler so it will be very hard competition from there
@1234
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December 15, 2015, 12:11:17 PM
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Quote
Thats not huge amount, I consider it as a small amount because betterbets has around 20,000 btc wagered in 6 months+
You're right, but it's not small too in my opinion.

Quote
Depends on what you will be coding , if it is just another dice site with nothing special than the others then you can expect that no one will play there. Owning a dice site is a huge thing and it is not for everyone to have
I guess I can't offer anything different than other sites. I'm thinking about hiring a good designer. The site I will be coding will be interactive and "alive" with features like chat and small faucet. Also heavy advertising (like PrimeDice). But I'm just researching this sector.

Thanks for your opinion, valuable for me.
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December 15, 2015, 12:15:16 PM
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When you look at the top sites with lots of traffic, yup they certainly look great. But also you have to realize that there are hundreds (if not more) sites that have been unsuccessful in getting gamblers or have been shut down because of DDoS, exploits and hacks. It is great that you can code it yourself, but you have to factor in your time cost together with the future cost for hosting, marketing (in the form of giveaway and ads) and hiring support personnel, and also consider the risk of having unsatisfactory marketing results, legal troubles (if you are not living in a bitcoin-friendly location), bugs being exploited, DDoS, hacks, etc.

edmundduke
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December 15, 2015, 12:23:54 PM
 #9

The question that arises from this post has 2 possible answers.
1) Are you actually so lazy that you can not search for an answer ? There is a search function and this exact question has been asked so many times. You will find all answers in those topics.

2) Who is the user behind making these new accounts to post these questions ? Who wants to increase the post count that bad that they need to make new accounts for these generic questions.

Which one is correct ?
@1234
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December 15, 2015, 12:25:00 PM
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When you look at the top sites with lots of traffic, yup they certainly look great. But also you have to realize that there are hundreds (if not more) sites that have been unsuccessful in getting gamblers or have been shut down because of DDoS, exploits and hacks. It is great that you can code it yourself, but you have to factor in your time cost together with the future cost for hosting, marketing (in the form of giveaway and ads) and hiring support personnel, and also consider the risk of having unsatisfactory marketing results, legal troubles (if you are not living in a bitcoin-friendly location), bugs being exploited, DDoS, hacks, etc.

As you said there are a lot of things to take into consideration. But as the site come profitable, they are not big problem (unless there is no bug, hack etc).
Thanks for your opinions. I know It needs a lot of effort and I'll probably find/move another sector related to bitcoin.


The question that arises from this post has 2 possible answers.
1) Are you actually so lazy that you can not search for an answer ? There is a search function and this exact question has been asked so many times. You will find all answers in those topics.

2) Who is the user behind making these new accounts to post these questions ? Who wants to increase the post count that bad that they need to make new accounts for these generic questions.

Which one is correct ?

I want to answer your questions despite they are absurd and meaningless in this topic of context.
1) Yes, I'm lazy.
2)Me. No body want to increase post count. You may want, I don't know and I don't want to know. Check my register date.
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December 15, 2015, 12:39:56 PM
 #11

For me yes it is profitable but you need to be active if you run a dicegame to gain a trust from players.
Also you need a lots of capital to invest it to your dicegame...

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December 15, 2015, 12:44:00 PM
 #12

I wonder if it's profitable to run a dice gambling site (like dicecoin.io) ? I'm seeing that site has 30,000 BTC wagered in 2 years.. Huge amount.

Certainly it's not easy to operate, promote and maintain by one person but I can absolutely code a site. Is it worth to start?

Have a good night Smiley

As I can say opening a gambling site sure profitable especially when you offer something good for them. It will sure attract them to your site but for maintaining the site and making sure them not to go away. You need to figure out itself. This is not something easy that you can do it alone. You will sure need many things before you can start a new gambling site if not you will sure just wasting your money on that site

futurebit640
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December 15, 2015, 01:49:57 PM
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For me yes it is profitable but you need to be active if you run a dicegame to gain a trust from players.
Also you need a lots of capital to invest it to your dicegame...

Yes running a dice is very profitable only if your site become popular. For that you need to invest money on advertisement to make your site more popular and you should gain trust from the players. Also you should have a very huge investment for bank roll. Another important thing is most of the players now need some change so add some new features into your sites to attract more people.
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December 15, 2015, 02:04:17 PM
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It sure can be but you gotta know how to manage a gambling site in general. Having investors would be a great help as well if you're just starting out.
If you do this then you're always going to have to pay off your investors.
eternalgloom
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December 15, 2015, 02:05:09 PM
 #15

Starting a new Bitcoin dice site today would require you to do massive amounts of promotional campaigns, just to get any kind of userbase.
The competition is pretty huge, like other before me have already mentioned.

I don't think you'd need something unique, just a website that looks trustworthy, games that are provably fair and like I said, pay for a lot of advertising.  

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December 15, 2015, 02:27:00 PM
 #16

It's not worth if you are only looking to make a quick buck. Competition is hard nowadays and being able to code alone won't help you any more.

You need:
- Excellent coding skills + server admin knowledge - every little bug or mistake has the potential to empty your wallet.
- A designer - if it looks like shit it won't attract anyone (and it's a fact that 99.99% of all good developers are miserable designers)
- A big bankroll - people like big bankrolls, even if they will never even get close to the max profit with their dust bets. I think one of the biggest reasons for coinichiwas unpopularity is the low bankroll.
- Marketing skills - I whish I had some, all of my efforts seem to be useless.
- Quick and reliable support - you will be immediately called a scammer in public if your response to "my 0.001 deposit doesn't show up" ends up in the users spam folder.



casinobitco
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December 15, 2015, 02:28:53 PM
 #17

Competition is cutthroat, dice sites are a dime  dozen.

Gaining players, and reputation, takes years

Best opportunity to get in this business is through acquisition (e.g. buying a reputable site)

erwin45hacked
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December 15, 2015, 02:31:28 PM
 #18

Best opportunity to get in this business is through acquisition (e.g. buying a reputable site)

Some sites have a hard time when they change the owner so its not really worth it. For example, bustabit (was moneypot) was almost dead for atleast a month after the purchase even though that it was quite popular when it was ran by the previous owner
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December 15, 2015, 02:52:58 PM
 #19

Putting together yet another dice site isn't a recipe for success. You will need to spend a lot on hosting, bankroll, marketing, giveaways (faucet), and support, before you see any profit. Gaining a good reputation and building a big user base can take months or even years. Maybe buying an already working site or buying a part of it would be a better option.
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December 15, 2015, 03:07:58 PM
 #20

I wonder if it's profitable to run a dice gambling site (like dicecoin.io) ? I'm seeing that site has 30,000 BTC wagered in 2 years.. Huge amount.

Certainly it's not easy to operate, promote and maintain by one person but I can absolutely code a site. Is it worth to start?

Have a good night Smiley

for sure it's profitable , but you have to do many things like you have to advertise and make the site unique
the market is now full with dice sites and no one will try new sites unless the new site offers something special

I agree with this guy, you should make your own different dice site, so many competitor out there, just build your image and reputation first, i think it needs more budget for advertise, giveaway and other things that attract people to join with your dice
goodluck
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