Reason Why Casino Bankrupt?

[noictib]

Hello folks!

I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.

I will close this thread right after it hits 2 page or I gather much info whichever will occur first.

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Thank in advance for helping!

The best thing is that , your are planning to do big buisness . Casino is the big buisness in the bitcoin market after the trading .
Here I will suggest you to make better research about handling a bitcoin casino before to start , Because earning in the bitcoin casino is not much simple in the current time it is because the most of the people using new new stretagy to make Gambling , so keep himself well talented in this field before to begin .
Second thing be sure that you have 5-10btc in your wallet Because you will not only win but also loss ( when the gambler won the bet ) .
And a last thing in this business is that you need to make advertisement in this forum , Because without advertisement no much gambler will go to your site .

[Ziskinberg]

If everything works fine, the casino won't be bankrupt, but some of the casino can bankrupt because of no gamblers trust the site, maybe it's due to the difficult withdrawal process or security reason or the site prove to be rigged or being hacked and lost all of its bankroll

Trust is the most important every casino should maintain, casinos are meant to be profitable because they have the house edge but a lack of customer service and promotion would lead to bankruptcy. Although the market is big in crypto gambling but the competition is also big, if you are the owner, you have to compete in order to stay in the business. Customers are the lifeblood of the business so you have to take care of them.

[coynedterm]

Hello folks!

I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.

I will close this thread right after it hits 2 page or I gather much info whichever will occur first.

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Thank in advance for helping!

I will suggest you to get small study at the Google sites and then just start your business if you have money( or BTC) .
But be careful here that you need also advertisement beside the best casino site , Because if you will not advertise then no more people will came to know about your casino and quality .
Secondly I will advice you for the new types of betting system /Gambling system , Because the gamblers will try to make Gambling at your site with new excited and hopefully they will.loss more and you will make money , but here you should be honest to your casino visitors , and never made any even small scam Because trust is a thing which can give success to everyone .

[Free1bitco.in]

If everything works fine, the casino won't be bankrupt, but some of the casino can bankrupt because of no gamblers trust the site, maybe it's due to the difficult withdrawal process or security reason or the site prove to be rigged or being hacked and lost all of its bankroll

Trust is the most important every casino should maintain, casinos are meant to be profitable because they have the house edge but a lack of customer service and promotion would lead to bankruptcy. Although the market is big in crypto gambling but the competition is also big, if you are the owner, you have to compete in order to stay in the business. Customers are the lifeblood of the business so you have to take care of them.

If it is serious to build a casino then the owner must prepare a considerable fund then see which casino has many customers especially in this forum
Then you can provide the same or better service from other casinos Such as the new cassino sportsbet.io and now quite successful have many customers Or directbet.eu they offer many promotions.

[BlockEye]

Since I saw that this thread cause a great interaction of each member regarding my main goal, I will let this thread open for a while until I gather sufficient information. I already gathered some important key notes and factors based on your opinion and I found it very useful but i'm  on thourough research. But take note that from now on, Please avoid to quote my original post. Just post directly your suggestion to limit text here and easy to read your opinion. Thanks everyone for your time. 

[LuanX3]

In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.

[poplolnman]

I think the reason why a Casino get bankrupt is due to these reason:

Poor Management
Incompetent Marketing strategy
Low House Bankroll
Unattractive advertisement
High Rollers winning
Hacks

These are some things why a Casino get banrupt.  You should hire the best marketing strategist and security team.  Games and software are just there waiting to be bought.  And if your initial fund is kinda small, you can open an investment program so people will invest in the bankroll.  You do not have controll over the winners since it is all a chance, you better have a highly fund bankroll.  Security is best to keep hackers away so pay for it.

too much , i can say simply the one with really low fund to operates the casino could lead into a bankruptcy. with good amount funds you can fix the poor management, have a good marketing strategy, have a big bankroll of course , have an attractive interface , have a high level security and many more! am i right?

One should have a good bankroll to maintain any casino well otherwise soon or later they can go bankrupt. Because you can expect some big whales to play and win big amount as well. So if you operate a casino with smaller bankroll surely go under loss. Other factors like marketing, management all come later on.

a casino always have a limit to avoid something like break the house and can't pay the player winning , it's a basic matter. the problem with bigger bankroll then bigger chance for a casino to survive from bankruptcy are on how the maintenance cost a lot of money rather than thinking about just how to pay the big winning , it has been set. when your marketing cost too much money than people who play , do you think that kind casino can survive for long time enough?

[Monnt]

In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.

You're stating about the casino which is just in its beginning phase. For a well established gambling site, the chances for getting bankruptcy will arrive when gamblers are cracking their secrets like hash generation. Yes I'm speaking from the real time scenario (but fortunately PD survived that).

Another real time example is : devs will be misusing hash algorithm which also will lead to bankruptcy.

[ethereumhunter]

In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.

i agree with you, casino is depend on people that visit and playing gambling in that site, the less people, the casino can not get profit. but to make people stay for a long time, i think the owner must make them satisfied with the service and give something value for the members for example giving some bonus, make an events, or make jackpot prize more bigger to attract more new gamblers.

[michkima]

In my opinion, casinos go bankrupt is because they don't have enough people playing in their casino and also they don't have the ability to keep the players playing in their casinos. No gamblers, no money/profits. You have to keep them coming, this is really why casinos are spending tons of money in advertising their site and improving it.

You're stating about the casino which is just in its beginning phase. For a well established gambling site, the chances for getting bankruptcy will arrive when gamblers are cracking their secrets like hash generation. Yes I'm speaking from the real time scenario (but fortunately PD survived that).

Another real time example is : devs will be misusing hash algorithm which also will lead to bankruptcy.

That is true, I partly agree with LuanX3 here. Why do you think big casinos still do a lot of advertising? Yes, security is really important since if they have a lot of money in their pockets hackers will want to target them. But if they keep on just securing and not protecting their player base then it will decline and no more players will stay.

[izanagi narukami]

Dicebitco.in was a great dice site and getting popular but their bet was rigged , that's fatal point for their site
( that's because casino cheating ! )

Some of casino provide unfair or un competitive rate so less people want to play on their site , so the casino can't maintain operational cost anymore

[spngebob]

Hello folks!

I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.

I will close this thread right after it hits 2 page or I gather much info whichever will occur first.

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Thank in advance for helping!

In my opinion casino can go bankrupt if someone hack owners wallets.
If casino has regular players i don't think it can bankrupt in long run.

[Viyamore]

Hello folks!

I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.

I will close this thread right after it hits 2 page or I gather much info whichever will occur first.

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Thank in advance for helping!

At fresh start ofcourse you need to minimize the lose of your gambling house setting a limit of maximum deposit whuch you can afford to support if any gambler won a big prize . To be the next is the system or the seeds of your games and lastly the person you hired to manage your casino needs to be trustworthy.

[abhinav703]

before you launch your casino be sure you have tested every part of the script and closed all exploits
new casinos are hacker's eye catcher

[South Park]

Hello folks!

I am planning to establish my own gambling casino in the future and I need your help now on conducting a feasibility study for my project.
I want to know what are the factors that can affects/trigger to a casino to go on a sudden Bankruptcy. Personally, I don't have enough managing skills on handling business like this since it is too far to my profession. But I'm very eager to establish my own casino someday.

I will close this thread right after it hits 2 page or I gather much info whichever will occur first.

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Thank in advance for helping!

The biggest risk come from the amount of money you are taking on bets versus the amount of capital your casino has, this is why some casinos accept investments from other people that way they protect themselves against this risk, they share the profits but they also share the risks.

[olubams]

From what everyone have typed, the only thing that puts everything together is what I termed 'over-trading' which simply means going above your means can carry and can identify itself in any of the ways that have been said earlier. However, with proper planning and due diligence, I believe up to 98% of the issues can be solved afterall we have sites on this site that have been here for a while and still waxing strong on a daily basis.

[ralle14]

The biggest risk come from the amount of money you are taking on bets versus the amount of capital your casino has, this is why some casinos accept investments from other people that way they protect themselves against this risk, they share the profits but they also share the risks.

That's why most casino have a limit on how much you can win to avoid these kind of risks.
Not only that I think they open the invest option to the public so that they could increase the max payout and to gain trust from the bitcoin gambling community.

One dice site that I know(starts with M and rhymes with lyrical) got robbed by one of their own developer idk why but he did it.  Since he knew the server seeds he used it to determine to possible outcomes of his bets.

[BlockEye]

I want to plug here a breaking news. Satoshidice is a scam site due to transparency issue and disappearing almost a hundred BTC. So keep away on that site guys. I think transparency issue gives also an impact for the profitability of a casino. Because once a casino is transparent, Then a lot of players will be tempted to play without any worries.

[iluvbitcoins]

I want to plug here a breaking news. Satoshidice is a scam site due to transparency issue and disappearing almost a hundred BTC. So keep away on that site guys. I think transparency issue gives also an impact for the profitability of a casino. Because once a casino is transparent, Then a lot of players will be tempted to play without any worries.

Where are you getting this info from?
Those are serious allegations

Good thing I withdraw some of my coins from there 
It's megadice now too

[canah17]

We'll some Casino's get bankrupt because of Professional gamblers but some are scams from the casino's machines and some are the gamblers because its rigged.