New Bitcoin Gambling Website Investors Needed

[tobeyrowe]

I also just came up with an idea to help ease the investors worry of me just taking the money and running. Instead of me asking for all of the money I need upfront I could just ask for it when needed like for example when the software is ready to be paid for I can get it then and then when I need some money for advertising or promotions I can get some of it then and then if I need some money for bankroll I can get it then. So that way its done in steps and doesn't require the investors to put it all upfront and you will also get to see that I am wanting to do this and I wont take the money and run and you will be able to see the results of the software and stuff before having to put in anymore money. But the only problem with this that I may face is if one of the investors decides not to invest after I already purchased the software and then I would be stuck trying to figure out how I would get the money to pay for the software. But if we can all come to an agreement where the investors already have the money set aside and they are willing to keep it set aside until needed and not spend it on something else then we might be able to do the investment in this way.

[Dabs]

There's this X factor that you can't really confirm, or maybe even more than one variable that you have no control over, plus any number of things that can go wrong, or you simply won't have the traffic or volume that you need. What I am saying is that there is something out there that can make or break your venture.

Business is a gamble. Good business people have a decent business plan, yet they can still fail. Gambling websites are more of a gamble especially in this bitcoin world. You need players to trust your site and you. And since you are accepting bitcoin you'd need to either have very good explanations of how the game operates or some formula that is easily verifiable, such as a provably fair method.

If you go with the softswiss games, although I am NOT familiar with any of their games, I am willing to bet NONE of them are "provably fair", and with that, you are not going to get ANY players from this forum. You'll get them where all the other casinos are getting them, somewhere out there, poker forums, or marketing and advertising on other websites.

As for risk versus reward, you already know that (or you should). Low risk, low reward. High risk, high reward.

If you're asking advice about how to operate a "normal" non-bitcoin casino running on softswiss software or platform, you're in the wrong forum. Merely accepting bitcoin does not make your casino a "bitcoin" casino that isn't considered "traditional".

Any game that involves dice, decks of cards, or coin flips MUST be provably fair. Or as close to it as possible.


As for your "set aside some money", that's where you can contract with one of many bitcoin escrow "agents" here. There's a handy list in the "Service Discussion" subforum.

Bitcoin Forum > Economy > Marketplace > Service Discussion  > Bitcointalk Escrows - Trade Safely!

What will happen is your investors send money to the escrow and he holds this money and dispenses it as the investors wish or according to some form of consensus between them and you, and payment goes directly to whoever needs to be paid. GPG comes in handy here, as well as some basic knowledge of how bitcoin works.

You'll want one who is trusted, has handled more money than you are asking him to hold, either collectively or at any given time, and has some experience with gambling, both as a player and as an operator. Escrows do not guarantee that businesses or equipment will be profitable, they only guarantee that the funds go to where they should go, and buyers and sellers (in the case of trading) are satisfied with their transactions.

See, if the money is not in escrow, then what is to stop an investor from pulling out? Unless it is allowed in the terms of investment, you don't really want 100 BTC being funded, and then a few of them decide they don't like it anymore and your funds drop to 10 BTC. (Or below what you need to even start it out.) It's also a risk they have to be willing to take.


P.S. The last guy on that list will charge you a 5% fee, that list is not updated often.

[tobeyrowe]

There's this X factor that you can't really confirm, or maybe even more than one variable that you have no control over, plus any number of things that can go wrong, or you simply won't have the traffic or volume that you need. What I am saying is that there is something out there that can make or break your venture.

Business is a gamble. Good business people have a decent business plan, yet they can still fail. Gambling websites are more of a gamble especially in this bitcoin world. You need players to trust your site and you. And since you are accepting bitcoin you'd need to either have very good explanations of how the game operates or some formula that is easily verifiable, such as a provably fair method.

If you go with the softswiss games, although I am NOT familiar with any of their games, I am willing to bet NONE of them are "provably fair", and with that, you are not going to get ANY players from this forum. You'll get them where all the other casinos are getting them, somewhere out there, poker forums, or marketing and advertising on other websites.

As for risk versus reward, you already know that (or you should). Low risk, low reward. High risk, high reward.

If you're asking advice about how to operate a "normal" non-bitcoin casino running on softswiss software or platform, you're in the wrong forum. Merely accepting bitcoin does not make your casino a "bitcoin" casino that isn't considered "traditional".

Any game that involves dice, decks of cards, or coin flips MUST be provably fair. Or as close to it as possible.


As for your "set aside some money", that's where you can contract with one of many bitcoin escrow "agents" here. There's a handy list in the "Service Discussion" subforum.

Bitcoin Forum > Economy > Marketplace > Service Discussion  > Bitcointalk Escrows - Trade Safely!

What will happen is your investors send money to the escrow and he holds this money and dispenses it as the investors wish or according to some form of consensus between them and you, and payment goes directly to whoever needs to be paid. GPG comes in handy here, as well as some basic knowledge of how bitcoin works.

You'll want one who is trusted, has handled more money than you are asking him to hold, either collectively or at any given time, and has some experience with gambling, both as a player and as an operator. Escrows do not guarantee that businesses or equipment will be profitable, they only guarantee that the funds go to where they should go, and buyers and sellers (in the case of trading) are satisfied with their transactions.

See, if the money is not in escrow, then what is to stop an investor from pulling out? Unless it is allowed in the terms of investment, you don't really want 100 BTC being funded, and then a few of them decide they don't like it anymore and your funds drop to 10 BTC. (Or below what you need to even start it out.) It's also a risk they have to be willing to take.


P.S. The last guy on that list will charge you a 5% fee, that list is not updated often.

Thank you for the idea on the escrow services which I already had that in mind before but I was afraid that the escrow might try to steal the money due to it being a pretty decent amount or not being reliable enough to send the money to the people who need to be paid when he/she should. Also according to Softwiss their games are provable fair and that's another reason why I wanted to go with them because I don't know if the custom game developer can do provably fair for the same price so it would be all around better to use Softswiss in my opinion.

[ranlo]

There's this X factor that you can't really confirm, or maybe even more than one variable that you have no control over, plus any number of things that can go wrong, or you simply won't have the traffic or volume that you need. What I am saying is that there is something out there that can make or break your venture.

Business is a gamble. Good business people have a decent business plan, yet they can still fail. Gambling websites are more of a gamble especially in this bitcoin world. You need players to trust your site and you. And since you are accepting bitcoin you'd need to either have very good explanations of how the game operates or some formula that is easily verifiable, such as a provably fair method.

If you go with the softswiss games, although I am NOT familiar with any of their games, I am willing to bet NONE of them are "provably fair", and with that, you are not going to get ANY players from this forum. You'll get them where all the other casinos are getting them, somewhere out there, poker forums, or marketing and advertising on other websites.

As for risk versus reward, you already know that (or you should). Low risk, low reward. High risk, high reward.

If you're asking advice about how to operate a "normal" non-bitcoin casino running on softswiss software or platform, you're in the wrong forum. Merely accepting bitcoin does not make your casino a "bitcoin" casino that isn't considered "traditional".

Any game that involves dice, decks of cards, or coin flips MUST be provably fair. Or as close to it as possible.


As for your "set aside some money", that's where you can contract with one of many bitcoin escrow "agents" here. There's a handy list in the "Service Discussion" subforum.

Bitcoin Forum > Economy > Marketplace > Service Discussion  > Bitcointalk Escrows - Trade Safely!

What will happen is your investors send money to the escrow and he holds this money and dispenses it as the investors wish or according to some form of consensus between them and you, and payment goes directly to whoever needs to be paid. GPG comes in handy here, as well as some basic knowledge of how bitcoin works.

You'll want one who is trusted, has handled more money than you are asking him to hold, either collectively or at any given time, and has some experience with gambling, both as a player and as an operator. Escrows do not guarantee that businesses or equipment will be profitable, they only guarantee that the funds go to where they should go, and buyers and sellers (in the case of trading) are satisfied with their transactions.

See, if the money is not in escrow, then what is to stop an investor from pulling out? Unless it is allowed in the terms of investment, you don't really want 100 BTC being funded, and then a few of them decide they don't like it anymore and your funds drop to 10 BTC. (Or below what you need to even start it out.) It's also a risk they have to be willing to take.


P.S. The last guy on that list will charge you a 5% fee, that list is not updated often.

Thank you for the idea on the escrow services which I already had that in mind before but I was afraid that the escrow might try to steal the money due to it being a pretty decent amount or not being reliable enough to send the money to the people who need to be paid when he/she should. Also according to Softwiss their games are provable fair and that's another reason why I wanted to go with them because I don't know if the custom game developer can do provably fair for the same price so it would be all around better to use Softswiss in my opinion.

Softswiss isn't provably fair, it's verified by a third party. Players can't verify rolls.

[tobeyrowe]

I'm sorry I just looked at their website again and it says it CAN be made provably fair it doesn't say it already is provably fair. But either way if I can do this casino its going to be provably fair because I want this to be 100% legit.

[tobeyrowe]

Also I just contacted one of the escrows on the list of escrows to see if he/she would be willing to escrow for me so I will let you guys know his/her response once I get one.

[Dabs]

This thread is a "not so often" updated list:
https://bitcointalk.org/index.php?topic=855778.0

There is an even older thread not updated:
https://bitcointalk.org/index.php?topic=276897.0

And, I think you said you needed about a hundred BTC:
http://blockchain.info/address/1Dabso5tsVpM9oZKxu8h4WYUUxjkwxC25Q


So, good luck, have fun, don't gamble what you can't afford to lose.

[tobeyrowe]

Hi, I am just letting everyone know that i have created a token on the counterparty wallet to represent the stock in the casino and once I get a trusted escrow I will issue out the stock to the investors once they send the money to the escrow. I have issued 100,000 tokens which will represent 100,000 shares in the company to be issued to the investors at 0.001 Bitcoin per share. Also I do want to point out that even though the shares are divisible it would be best that if you invest to invest in whole shares so it can figured out how many shares you should receive exactly because you might get more or less depending on how close the calculator can get to the actual amount so I don't want anyone to get cheated out of any. So please if you invest please invest in whole shares and that will also make it easier to give out the share of the profits to the share holders. Thank you.

[tobeyrowe]

Hi, I just wanted to let you all know that I will be posting in the lending section of the forums to ask for a loan that will basically be like I had stated earlier where I will give up 100% of the profits I receive from the casino to go towards paying back the investors and they will also receive some equity in the casino. So they would be getting their money back plus interest and equity in the casino. And if I cannot pay back the loan for some reason I will be giving up the casino as the collateral. The reason I have decided to do this is because from what I can tell no one that has commented or seen this post will invest so I have to try another way to get the money to do this. But if you guys are actually considering investing please let me know because from what I can tell none of you are interested in investing but instead just trying to give me advice and stuff which i am fine with that because I need advice but at the same time the advice will be worthless if I cant get the money to start the casino.

[tobeyrowe]

By the way I had already created a token on the counterparty wallet to offer to the investors as a share in the business with each token equaling 0.001% equity in the business with a total of 100,000 shares. The tokens name is A17405905917904734000 which I tried to give it a custom name but for some reason it wouldn't let me so I had to go with a random number name in order to make it. So if you use the counterparty wallet and you are interested in investing in equity in the business then please copy and past that long number with the letter A at the beginning into the section of the market exchange that says "Select another pair" and then select XCP as the currency to find it. I have already sent a sell order of 1,000 tokens or shares at a price of 0.5 XCP per share and if I can get any investments I will turn the XCP into Bitcoin and USD in order to do what needs to be done to buy the casino software and do the advertising and everything. But at the moment it is processing which takes time so if you go look at the token or share soon after I post this then it might not be there right away so please give it some time to process.

[Dabs]

Just my opinion: You're making things more complicated than they should be. But I've never used counterparty (and have no intention of trying it) so I really don't know. Get your escrow and do something like an ICO (look at the altcoins section to get an idea.)

[tobeyrowe]

Just my opinion: You're making things more complicated than they should be. But I've never used counterparty (and have no intention of trying it) so I really don't know. Get your escrow and do something like an ICO (look at the altcoins section to get an idea.)

Okay I suppose I can just do it like that I just figured the investors would like it better on counterparty because it seems like a lot of people are using it now to do like what I'm doing.

[TOPBTCCASINOS]

Excel sheet looks empty?

[tobeyrowe]

Excel sheet looks empty?

What Excel sheet? Do you mean the investor list sheet? If so that's because no one has invested.