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Author Topic: Is it profitable to run a dice gambling site?  (Read 5409 times)
bill gator
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December 15, 2015, 03:12:13 PM
 #21

Long term it is certainly possible, but luck does play a factor in these kinds of things. Without proper advertising the earnings won't even maintain the hosting costs. With a house edge, that basically would be your profit long term. It's certainly profitable, otherwise people wouldn't be opening new dice sites.
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December 15, 2015, 03:22:43 PM
 #22

Run/make a dice site isn't easy, especially if you want get profit from it for long time. At least there are few things you must have on your dice site :
1. Security - Small bugs could empty your wallet, let users always win or crashed everything
2. Design - Without good design, people won't even try your site
3. Bankroll - People won't be satisfied if they can't bet huge amount of bitcoin
4. Fairness - Show how your provably works very well, otherwise people won't believe you
5. Advertising - No promotion, no customer
6. Customer Service - Slow/bad response could make user call you are scammer
7. Uniqueness - People got bored with many similar dice sites, so with uniqueness, people might try your site

If you can't fulfill those, i'm sure you can't run a dice sites well.

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December 15, 2015, 04:00:21 PM
 #23

Run/make a dice site isn't easy, especially if you want get profit from it for long time. At least there are few things you must have on your dice site :
1. Security - Small bugs could empty your wallet, let users always win or crashed everything
2. Design - Without good design, people won't even try your site
3. Bankroll - People won't be satisfied if they can't bet huge amount of bitcoin
4. Fairness - Show how your provably works very well, otherwise people won't believe you
5. Advertising - No promotion, no customer
6. Customer Service - Slow/bad response could make user call you are scammer
7. Uniqueness - People got bored with many similar dice sites, so with uniqueness, people might try your site

If you can't fulfill those, i'm sure you can't run a dice sites well.

After this u can close this topic, start to work on first, second, third... and in if u come to 7 u will have nice site and i will be one of people playing there for sure.
In this world with good idea u can make a lot of money, just u need to believe in yourself, invest some money and energy.
There is a lot of threads here about gambling sites, many many comments. U need to look and to find what people like and in what people enjoy, that will help u when u start to think about look, and about other things on site.
Good luck with your project.

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December 15, 2015, 05:59:57 PM
 #24

If I had big budget (500BTC+) I'd start coding right now but as you said there are lot of thing involved and it needs time too.

Thanks for great suggestions and advice.
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December 15, 2015, 06:02:09 PM
 #25

to me, the security is really the most important. you can be very gd in all the others, but if there is a flaw in the security, all your hard earn $$ can be gone in an instant. it may takes years to get hacked or so but the battle to stnad against hackers is really not easy. really does not want to see another mtgox cases.


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December 15, 2015, 06:08:22 PM
 #26

If I had big budget (500BTC+) I'd start coding right now but as you said there are lot of thing involved and it needs time too.

Thanks for great suggestions and advice.

Yeah the problem is budget, so many things that must consider, and most important is make it popullar and certainly it needs good strategy and smart concept since there are so much big competitor out there
good luck
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December 15, 2015, 06:15:04 PM
 #27

Yes it is, if you have the budget to spend on promotion, giveaways and if your planning to have an ingame faucets, players will always come but you need them to keep on coming back if you want to earn, you need to have a fast server that can handle a ddos attack, a strong security for the script kiddies, and a lot of time, and if you play it righ the return is great.
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December 15, 2015, 07:18:02 PM
 #28

If you're running it yourself then yes, gambling sites have more profit in the long run more than anyhing out there. When it comes to setting up a business of course. You'll need some investors if you can't invest into it yourself.
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December 15, 2015, 07:20:25 PM
 #29

IMO yes, because when you look at your profit chart when gambling on any site that reflects how much profit the site has been generating. You're basically gambling with a negative 1% house edge, and I would do that any day.

Also an online gambling site is obviously a lot easier to manage than physical casinos.

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December 15, 2015, 07:23:07 PM
 #30

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

It depends. If you run a popular casino you can make big profits. You need to do the support, advertising and have loads of bitcoin to start. It's literally running a company.
Commission from referrals is only 0.03% to 0.05%.  (For instance, to refer 1.7134000 BTC gives only 0.00085000 BTC )  Does anyone know a casino that gives at least 1% referral commission?

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December 15, 2015, 07:52:32 PM
 #31

The gambling side is profitable in the long run when you have players. Most of the costs go towards marketing and promotions. Very profitable if you do it right.
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December 15, 2015, 07:59:41 PM
 #32

i believe it might be profitable and you can make a lot of money with it if you can make it very interesting and attract a lot of players that would loose money to your casino because of the house edge it would have
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December 15, 2015, 08:19:06 PM
 #33

If you have an original idea it would most certainly be worth it financially to start a gambling site.

The reason why im saying "would" instead of "will" is because you could get in huge legal trouble. There is basically no way to run a legal gambling site that operates world-wide without paying 100k$+ per year(for licensing, lawers etc.).
That said, all bitcoin casinos have chosen to launch there sites with no or little legal protection and staying anonomys. If any of the bigger gambling sites identity would be revealed, they could be facing charges.

This year the owner of the biggest bitcoin poker site faced what could have been up to 10 years in prison, ended up only being sentenced to 2 years probation and a 25,000$ fine.
Reference: http://www.coindesk.com/bitcoin-poker-site-operator-to-pay-25000-fine/
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December 15, 2015, 11:27:02 PM
 #34

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
It's profitable if players trust your gambling site, otherwise they won't deposit, or just play with the faucet.

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December 15, 2015, 11:32:44 PM
 #35

Im an owner and its not easy at all for us. Theres so many sites out there to compete with. Youre not just gonna launch and watch players come running. You need a new look(which i have) and that still doesnt get them running to your site.

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December 15, 2015, 11:38:35 PM
 #36

Yes and no.

If they were not at all, then there would not be so many dices around, so they must be.

But they require many BTC to bankroll and to maintenance and there are just too many sites around, and build trust is hard, and you may always be hacked or something. Your site may fail too and you may have lose a good amount of BTC.

And there is the law, of course. Even if your site is not illegal, it may be in the future, maybe before you can ROI, and you'll have a hard decision to take

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December 15, 2015, 11:40:15 PM
 #37

It's obviously profitable for those that have been succesfuly running one for a long period of time. For example, im sure that the guys at SatoshiDice or PrimeDice which are stablished names within the gambling game are by now pretty well off and the business sustains itself, I think it will only get better as more and more people adopt BTC and discover BTC gambling with it.
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December 15, 2015, 11:50:31 PM
 #38

running a gamble site cant be done by one person and you need to updates and updates

but i think you will get profit if you are running gambling site, but for information you need huge of money to start a gambling site

i am not suggesting open a gambling site by yourself


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December 15, 2015, 11:54:51 PM
 #39

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

If your question is only if its profitable, i can answer that YES!!!
but you can be sure that you will profit big amount. as theres a lot
of dice sites already running. unless your dice site will be very unique,
that other will be attracted to it and if you manage to promote it successfully.
naturally the first days of the site will be so hard.and you really need people to help you out.
and also they are right the wagering amount doesnt matter at all.
For me. it is better that you make a game-base,like clash of clans btc involve and gambling
and looting in war. in that case.. much more people will be interested. hehe... goodluck.


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adaseb
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December 15, 2015, 11:57:20 PM
 #40

I think in 2015-2016 its very difficult making money wit ha dice gambling site for many reasons.

One of the reasons is that there are probably 50 active dice sites out there. Unless you offer 0 house edge or some incentive, nobody will want to bet on your site.

Also you need a big bank roll in case a whale comes and starts betting 50 BTC rolls and ends up cleaning out your hot wallet.

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