How much bankroll do I need to start a dice site?

[Symphonized]

If you reach some conclusion let us know
Im happy to ear those points you have reached out and share with us

[cluit]

How much BTC do I need as a bankroll to start a dice site? (Excluding development)

A LOT. I don't mean just by development as well, development should require INSANE amount of man hour put into it for it to be different from others and make you entertaining enough so that gamblers would prefer you over others. Than you will need to spend money on security which will be really expensive. Than you will need to spend money on marketing.

This is one of the highest ones. Almost all websites have signature campaigns nowadays, from casinos to altcoins to tokens and so forth. You will have to spend so much money that I can't even begin to talk about it but even with just these, you can see that its HUGE.

[wxa7115]

Assuming you don't want to risk more than is mathematically optimal, you can calculate the required bankroll for a dice game depending on the most you would like to allow players to win in a single bet and your game's house edge. For example, to offer a maximum profit per bet of 0.5 BTC with a house edge of 1%, a bankroll of 0.5 BTC / 1% = 50 BTC is necessary.

This is correct, the problem for a new casino are not the players making low bets but a whale coming in and betting big and winning so as long as you keep the maximum bet low then you have nothing to worry, now if you do not have that money for your bankroll you can do what many casinos did in the past, accept some investors, they will add to your bankroll and the overall risk of going bankrupt will go down with it, the real problem is to gain popularity in a market which has many good casinos already, but it is possible to do it if you invest your time in creating an attractive website and put a huge effort marketing your site in the forum and in social media sites.

[Juggy777]

There can be no definitive answer to this, as it'll depend on how much funds you have, what plans you have from your site. What are your competitors doing in the same region, what is your target audience are they happy. Then you'll need in house team that's able to give support within 12 hours, and graphic designers who can play and make it happening. Visit other sites and understand it.

[btctalk4life]

How much BTC do I need as a bankroll to start a dice site? (Excluding development)

There is no exact number of how many bitcoins you need to open a new dice site, maybe 50-100 bitcoins. It's depend though, if you have many players you need more big bankroll. For early start, maybe you only need 10-25 btc.

[Dice-Bet]

If you get investors onboard you probably don't need anything.

[crwth]

How much BTC do I need as a bankroll to start a dice site? (Excluding development)

There is no exact number of how many bitcoins you need to open a new dice site, maybe 50-100 bitcoins. It's depend though, if you have many players you need more big bankroll. For early start, maybe you only need 10-25 btc.

I agree that you need a lot of Bitcoin in order to have a great experience for people. Winning and losing would have an impact in your casino and as long as you continue with it, it’s going to be okay. I suggest to have a great GUI and solid program to have a meaningful game. No cheaters, beware of it.

[kryptqnick]

Assuming you don't want to risk more than is mathematically optimal, you can calculate the required bankroll for a dice game depending on the most you would like to allow players to win in a single bet and your game's house edge. For example, to offer a maximum profit per bet of 0.5 BTC with a house edge of 1%, a bankroll of 0.5 BTC / 1% = 50 BTC is necessary.

People say this formula is solid, but isn't it supposed to depend on the number of users somehow? Surely we have to set limit for a maximum bet amount, but if we have 10 players on the website and one of them one on a 10% chance then it's one thing, while if there is a hundred players, then the potential win is bigger and the bankroll is supposed to cover it. Yes, we can expect that more people means more money waged and often lost, but probability can be tricky and one might on the early stage of casino's development suddenly get lucky, no?

[Minus7point5]

You would need to have this idea on your own before asking other people mate.
Just with the license can be more than 50,000 USD so you need to have some extra money laying around or find other investors.

[spiker777]

The amount of bank roll you start with is less relevant than you might think. What is more relevant is the maximum bet size and win amount. This can be scaled up or down depending on your bank roll. However, in order to look professional so as not to appear to be a scam, I'd say a respectable amount would be 10 BTC. Of course this could be lower, but would you really trust a dice site with $500 bank roll?

[milewilda]

How much BTC do I need as a bankroll to start a dice site? (Excluding development)

Just on my own words or just basing on my own plans if i would tend to create. Then it would be sufficient on having a minimal of 10BTC yet this would be a good start up and normally you would set out maximum bets basing on what your bankroll can handle not only focusing on few amount of players but you should set out directly for bigger numbers so that you can estimate or calculate on how your bankroll can sustain.

If you get investors onboard you probably don't need anything.

If you can manage to accumulate or do seek out investors then it would make your job more easier but i would still prefer to go solo.

[mikyadel]

bankroll is only one factor when considering starting a new dice site especially now where there are many good reputable sites ,the market seems a bit saturated ! . you need first to determine your target audience like do you want a site which attract only whales or normal people who can be happy to win .01btc ! Also you should consider putting some budget for marketing as without it no one will ever know of the website even if it's great.

[Symphonized]

bankroll is only one factor when considering starting a new dice site especially now where there are many good reputable sites ,the market seems a bit saturated ! . you need first to determine your target audience like do you want a site which attract only whales or normal people who can be happy to win .01btc ! Also you should consider putting some budget for marketing as without it no one will ever know of the website even if it's great.

Hum very interesting approach as i've stated before.
Just diversify to make something new from out of the ordinary that people expect.

[devans]

Coin Dropper asked how much money is needed specifically for the bankroll, so I'm not sure why everyone is speculating about licensing, development and marketing costs.

Assuming you don't want to risk more than is mathematically optimal, you can calculate the required bankroll for a dice game depending on the most you would like to allow players to win in a single bet and your game's house edge. For example, to offer a maximum profit per bet of 0.5 BTC with a house edge of 1%, a bankroll of 0.5 BTC / 1% = 50 BTC is necessary.

People say this formula is solid, but isn't it supposed to depend on the number of users somehow? Surely we have to set limit for a maximum bet amount, but if we have 10 players on the website and one of them one on a 10% chance then it's one thing, while if there is a hundred players, then the potential win is bigger and the bankroll is supposed to cover it. Yes, we can expect that more people means more money waged and often lost, but probability can be tricky and one might on the early stage of casino's development suddenly get lucky, no?

No, as long as the maximum profit per bet is never exceeded, the number of users doesn't affect the risk to the bankroll. From the perspective of the house, it just receives bets one after the other. How quickly those bets are made or from how many players they come doesn't matter. Since the optimal risk is relative to the bankroll, the house is guaranteed to never risk too much, even if players are lucky.

Restricting the maximum bet size doesn't impact the expected bankroll growth either. For example, bustadice allows wagers of any size that don't attempt to win more than the maximum profit. If you wanted to you could place a 1,000 BTC bet and it would be perfectly safe for the house to accept.