Reason Why Casino Bankrupt?

[Emoclaw]

In addition to what everyone said, the referral system should also be managed carefully and thoroughly. You should make sure that the referral program offers something like 25% of the house edge, instead of the amount of coins waggered.

[lite]

Will your casino be privately funded or will you allow players/public to invest?
there are many things which could bankrupt a casino, a whale/lucky player, bug/exploit that could make a player continuously win.

[Lieldoryn]

The casino is not bankrupt. Always casino has a percentage of the bets. Another thing that you need to attract players, but it does not need to be greedy and the percentage that the casino wins should be the minimum. If the visitors win they will lose interest in your casino.

[erpbridge]

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!

Most of this is probably already pointed out probably. But, Multiple things can lead for it to go bankrupt. If it is your own funds, then a high roller might wipe you clean(unless you limit bet size). There could be a hacker which could take advantage of  a flaw.

[2double0]

Casino's bankruptcy truly depends on the players' luck that they come up with. There is no other reason that I see as even with the least house edge, casinos could profit much, but the major role that gets played in the situation of anyone's bankruptcy is their luck factor totally.

[hatshepsut93]

You need to setup the limit for maximum allowed win per single bet equal to 0.5% of your total bankroll. If you have 100 BTC, players should be allowed to win max 0.5 BTC per single bet, no matter the size of the bet (0.5 BTC with x2 multiplier or 0.05 BTC with x10, etc.). This is the most common reason why casinos go bankrupt - they simply can't cover their loses when some lucky whale gets a win streak, I also suggest you to contact owners of well-established gambling sites to ask more about the business.

[coolcoinz]

You need to setup the limit for maximum allowed win per single bet equal to 0.5% of your total bankroll. If you have 100 BTC, players should be allowed to win max 0.5 BTC per single bet, no matter the size of the bet (0.5 BTC with x2 multiplier or 0.05 BTC with x10, etc.). This is the most common reason why casinos go bankrupt - they simply can't cover their loses when some lucky whale gets a win streak, I also suggest you to contact owners of well-established gambling sites to ask more about the business.

That's a very good advice.
I'd like to add that a normal casino rarely goes bankrupt, but it can happen due to some outside circumstances like increased rent, taxes, problems with local government, competition taking over.
A bitcoin casino usually goes bankrupt due to a hack or a bug abuse. It can also happen that it will never gain popularity and die from lack of customers.

[tabas]

Just make sure that you have enough fund for it and since you are going to run your own gambling site for profit then you should have the house edge for it. This can be helpful if you will have to open opportunities for the investors but since you have said that you don't have managing skills on business, it may cause a problem to you.

[serjent05]

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.

[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?

[Yanisumin]

Some games in casinos can be solve mathematically. There are card counting involve and probabilities. If you're into making a casino you must hire a statisticians, economics engineers, and mathematicians to solve for the best possible chances, rolls, counts to a win a game. Some casinos are letting card countings in the game and some are not. High capable players can make millions if the management of the casino are not careful. Thinking outside or getting rid of the box is needed if you're into business like this because you're dealing with highly capable people. Good luck.

[crairezx20]

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.

I think additional budgeting in marketing or giving bonuses that people abusing it..
many reason can be say if you start a business with gambling like DDOS attack just to weaken your firewall and hack your database or bitcoin..
That is why those who are starting a business like that they need to hire someone to protect you from hackers..

[gabmen]

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.

‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡‡

Thank in advance for helping!

. Well first, i think casinos lose cuatomers here is when people lose confidence in their processes. Once someone complains about fraud or baing cheated by the house, that would be a huge blockade for any emerging casino. You have to make sure that everything isbtrust worthy because if the current players in your casinos are satisfied with how they are treated, you wouldn't even have to do a lot of advertisements as word of mouth will be your main pull

[klf]

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.

[RoommateAgreement]

there are so many different reasons for each of them. some of them are unknown to us. but many are. it can be different with each of them too. but from what i have seen so far in my years of using bitcoin, is that most of them go bankrupt and then go down because they were offering some weird games that nobody wanted to play or knew how to play them!
i have seen at least a couple of them who thought their game was unique, and it was but in a way that nobody wanted it.

[cotton ball]

Some games in casinos can be solve mathematically. There are card counting involve and probabilities. If you're into making a casino you must hire a statisticians, economics engineers, and mathematicians to solve for the best possible chances, rolls, counts to a win a game. Some casinos are letting card countings in the game and some are not. High capable players can make millions if the management of the casino are not careful. Thinking outside or getting rid of the box is needed if you're into business like this because you're dealing with highly capable people. Good luck.

I think every professional casino has a banker, programmer and statistician who has a high reputation, they also don't want to take the risk to give up too early due to losing the analysis of its users. But there are cases where casinos go bankrupt because they do not take this into account, especially the new casino and don't have budget for some of the jobs above. But for online gambling even those using bitcoin always hire an expert progammer, before the initial launch of their website.

[kolesozw]

Main 3 reasons crossing my mind are:

1) Poor Bankroll management
2) Poor Managing skills
3) Poor Security - getting hacked, compromising server seed, etc.

[Lionidas]

I generally don't think a casino can go bankrupt unless under mismanagement and wants to fail so they just do something stupid such as not pay their customers their winnings or something like this.
Another reason one of the employees is stealing from the company's bankroll.
That is another possibility of it failing and having to file for bankruptcy.

[xuan87]

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

[ethereumhunter]

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

i am agree, remember to have good support system, if you don't know about this, maybe you can hire someone or some people to help you to manage any question or problem from your members, so everything is under control. beside that, don't forget to always take care your member with good and make an event for sometime. if your member is satisfied with your service, i am sure that more people will come into your site and playing the games in there.