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Author Topic: Gambling website hopeful doing research  (Read 673 times)
Cryptolot
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June 01, 2017, 01:52:52 AM
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Hi, I am fairly new to cryptocurrencies but seeing as there are several gambling websites that make a fair bit of money.

What I want to know is which games are more popular, profitable, and easiest to make provable.

How much would it cost to build one such website and how do I know if the person I paid didnt insert some wierd code to siphon bitcoins I make?

Do I pay taxes if I just earn cryptocurrencies and not cash in on real life currencies?

Are there any permits I need to be aware of? I live in Florida but willing to move to another country if need be.

I was thinking of accepting alt coins as well.

Will make another thread on progress of the website when I have done all the proper research.

Thanks in advance! CoolBTC Cool
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ktabb
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June 01, 2017, 09:45:29 PM
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Hi, I am fairly new to cryptocurrencies but seeing as there are several gambling websites that make a fair bit of money.

What I want to know is which games are more popular, profitable, and easiest to make provable.

How much would it cost to build one such website and how do I know if the person I paid didnt insert some wierd code to siphon bitcoins I make?

Do I pay taxes if I just earn cryptocurrencies and not cash in on real life currencies?

Are there any permits I need to be aware of? I live in Florida but willing to move to another country if need be.

I was thinking of accepting alt coins as well.

Will make another thread on progress of the website when I have done all the proper research.

Thanks in advance! CoolBTC Cool

I don't know about legality/regulation, but I'm sure you'll have to deal with that.

As far as taxes goes though, I'm not sure if you'll have to pay taxes on the crypto that you earn but you'll definitely have to pay taxes if you convert the crypto to fiat. If you hold it for a year, you might be able to get the lower tax rate for long term investments. Not sure exactly how that works.

Regarding building the site, I think your best defense against a developer deceiving you and stealing bitcoins is a well-written legally binding contract to define the work you are paying them to do and protect yourself against any malicious code they may write.

btccashacc
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June 01, 2017, 10:28:18 PM
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1. From costumers point of view i might say that dice is popular, roulete and sportbets are good though. I'm not a gambling owner so i don't know are they profitbale or not but as we can see those popular site still exist it means they can earn profit.

2. No idea

3. I think it depends on your country. In my country instead of paying taxes gambling is ilegal here, and untill this day online gambling still survive most suprising they used wire transfer not crypto.

4. I'm not USA citizen.

5. Yes, now people are tired to transaction with bitcoin due to higher fee and long confirmation. Etherum, litecoin, dash and doge are good option.
Cryptolot
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June 02, 2017, 01:35:51 AM
Last edit: June 02, 2017, 02:08:59 AM by Cryptolot
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Thanks guys, is there any outsourcing website I can go to and find a proper programmer? I was thinking upwork.com or scouring around these forums but I would like a second opinion on this just to be sure.
Cryptolot
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June 02, 2017, 01:55:10 AM
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5. Yes, now people are tired to transaction with bitcoin due to higher fee and long confirmation. Etherum, litecoin, dash and doge are good option.

Dont forget about pepecash  Wink Roll Eyes
mizrak
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June 02, 2017, 03:39:50 PM
Last edit: June 02, 2017, 04:09:10 PM by mizrak
 #6

Hi, I am fairly new to cryptocurrencies but seeing as there are several gambling websites that make a fair bit of money.

What I want to know is which games are more popular, profitable, and easiest to make provable.

How much would it cost to build one such website and how do I know if the person I paid didnt insert some wierd code to siphon bitcoins I make?

Do I pay taxes if I just earn cryptocurrencies and not cash in on real life currencies?

Are there any permits I need to be aware of? I live in Florida but willing to move to another country if need be.

I was thinking of accepting alt coins as well.

Will make another thread on progress of the website when I have done all the proper research.

Thanks in advance! CoolBTC Cool
Hi ,
As far as i know the most popular game is dice,
when it comes to profitably there is a guy who has  invested in bankrolls of some crypto casinos , you should read his thread.  
however it is expected to earn at least the game house edge.
how much it cost it entirely up to the programmer.
For taxation you need to speak an accountant or i believe you can find a way for yourself. Since it is cryto world Cool
Permission I have no idea about this , All i know is the US  is wrong country to be in this business
To accept alt coins gives you niches and you can promote yourself better than your competitors
eternalgloom
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June 02, 2017, 03:58:39 PM
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Thanks guys, is there any outsourcing website I can go to and find a proper programmer? I was thinking upwork.com or scouring around these forums but I would like a second opinion on this just to be sure.
I think you could find someone here on the forum, just make sure it's someone who's trusted.
Make a thread in the services section and just see who replies Wink

Another option would be to find some sort of turnkey solution, a Bitcoin gambling script and have a developer adjust that.

It might save you some time and money.

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