How much capital I need to be the House

[roosbit]

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

Simple answer, You have to have more money than what the players are wagering..that's the reason why the house usually has a limit to how much you can wager based on what they can afford to pay out.

You don't want to have a high roller who will match your capital and leave you with nothing after having a good winning run

[TheCoinGrabber]

I don't have an estimate in mind but I agree that crowdfunding is the way to go. For that to succeed though, you better have something good to offer. If your just like any regular casino, why bother investing when they can just play with their money elsewhere?

Assuming you do get crowdfunded, if there's nothing that sets you apart from other casinos, the established casinos with just beat you, after all they already have userbase.

How about franchising a lottery outlet first? Those earn ALOT. Pool money from friends and once you've already paid them off, you can invest the income into an online casino. I believe the franchise cost around $10k.

Crowdfunding wont really be that effective unless if you are already an established gambling site just like we do saw on Betking ICO it is plausible but for a start up for a gambling site then its impossible to get some investors unless if the gambling site you are proposing do really have something unique or do spark out someones interest to put up some money then you are on luck but most of the time it would really be hard.

Exactly. That's why I suggested building the site first using funds from some other source, and then just get more investors later.

Crowdfunders tend to be picky. Either it offer something new or try to cater to some niche (for example the site also have platform for beetle fights that people can bet on, etc).

[Indamuck]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

[virasog]

On a betting game, we all know that the house always win everu round. With this i think what if i try to be the house. Not thinking about the paperworks, locations and legality. I think its a very good business and you dont need much effort to do, just cards or dices is enough. People come voluntarily on gambling site anyways. But how can i start? What do i need to do? How much capital do i need?.

So you want to have a gambling business in short right? If you want to build your own gambling house make sure that you really want it, make sure that you know what you are entering before you make a first move.

You do not have to worry about just money but so many other things as well. You need great team, great coding masters and above all a user friendly platform that could attract people. Normally people tend to stay away from the gambling sites which require them go through KYC. In addition, you would have to worry a lot about costumer care when you really want to be the house.

The first thing which OP needs to be focusing on is the marketing. You need a good marketing strategy in order to compete with the existing gambling houses. If you have the money, you will be able to get a gambling site made but only good marketing can make it successful.

[joshy23]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

The reason why limits needs to be set up, as there's big fat whales who can surpass the house bankroll and use it as an advantage to sucked every money inside the house, if such whales is very well experienced they can go and proceed play like a hit and run strategy living the house empty handed.

[FIFA worldcup]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

The reason why limits needs to be set up, as there's big fat whales who can surpass the house bankroll and use it as an advantage to sucked every money inside the house, if such whales is very well experienced they can go and proceed play like a hit and run strategy living the house empty handed.

The house edges, odds and bets limits are to be set precisely  because if you mismanaged them, then the whales and experienced gamblers will exploit this and run away with all funds on your site. You need to fully understand all these settings before you bring your gambling site live.

[hahay]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

The reason why limits needs to be set up, as there's big fat whales who can surpass the house bankroll and use it as an advantage to sucked every money inside the house, if such whales is very well experienced they can go and proceed play like a hit and run strategy living the house empty handed.

The house edges, odds and bets limits are to be set precisely  because if you mismanaged them, then the whales and experienced gamblers will exploit this and run away with all funds on your site. You need to fully understand all these settings before you bring your gambling site live.

That's the main thing, good management will make your business successful. We do not always argue about money when we want to start a business, because there are still many things we must have to prevent bankruptcy. Even though you have a lot of money to start a business but you don't have the skills to manage it, then it will only be a big bankruptcy.

[Rufsilf]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

There something we need to be out from bankruptcy. Some gambling site falls into like this cause they don't manage it well. As an owner we should take of everything cause the success of our business will rely into our hands.   The failure of yours,  will be the failure of the entire business.

[carlfebz2]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

The reason why limits needs to be set up, as there's big fat whales who can surpass the house bankroll and use it as an advantage to sucked every money inside the house, if such whales is very well experienced they can go and proceed play like a hit and run strategy living the house empty handed.

The house edges, odds and bets limits are to be set precisely  because if you mismanaged them, then the whales and experienced gamblers will exploit this and run away with all funds on your site. You need to fully understand all these settings before you bring your gambling site live.

That's the main thing, good management will make your business successful. We do not always argue about money when we want to start a business, because there are still many things we must have to prevent bankruptcy. Even though you have a lot of money to start a business but you don't have the skills to manage it, then it will only be a big bankruptcy.

We cant really deny that having funds would always been a great factor on building up a business yet it wont really move if you dont have any funds or its insufficient but i agree on what you have said that good management is one of the keys to have a successful business.Even though you do start up small if you do able to handle it well then you can possibly see it grow and succeed.

[rodel caling]

First, you need to make a study before making anything else. You have to analyze your capablities, if you don’t know much about gambling then it will be hard for you. Create a team that can work with you, you can’t do this alone and of course you also need to have major investors that will play a big role for you. Money is easy to get if you already have a clear plan, and strategies so work on that first.

This very good advice study well what is your plan because they are talking about here huge money to bet the house of gambling isn't easy to got win from the house.

[DoublerHunter]

First, you need to make a study before making anything else. You have to analyze your capablities, if you don’t know much about gambling then it will be hard for you. Create a team that can work with you, you can’t do this alone and of course you also need to have major investors that will play a big role for you. Money is easy to get if you already have a clear plan, and strategies so work on that first.

This very good advice study well what is your plan because they are talking about here huge money to bet the house of gambling isn't easy to got win from the house.

I think you are not reading as what had OP said, he wanted to know if how much fund they need if they are going to build a house edge in a gambling site not to defeat this. It really needs a huge amount before you can build your own gambling site, I'm an expert on this but I think you must prepare millions of dollars where it is good to start.
Crowdfund and investors would be better if you have this, of course, you need to promote your project here in from via signature campaign you need also I think 10 bitcoin for that in long run ads here. So, expensive I can't tell the exact amount.

[freedomgo]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

There something we need to be out from bankruptcy. Some gambling site falls into like this cause they don't manage it well. As an owner we should take of everything cause the success of our business will rely into our hands.   The failure of yours,  will be the failure of the entire business.

That's the worst thing that could happen to them, but the chances of it happening is very low because the say goes casinos always win. \
Most of the reason of bankruptcy is just the mismanagement, but in terms of the game, they will likely have more success than the gamblers since the odds favors them.

[LogitechMouse]

I think you must need to do some research first before you make a gambling business. Take note that you must know if how many gamblers are there in the area where you need to build your business. You need to know too how is the lifestyle there. Are they rich or poor? Are they gambling or not?

In terms of capital, it will depend on how many gamblers are there in the area. If you want to build in the city where there are many people and many gamblers then you need a huge amount of money to become a house to prevent losing. If you want to build in a small area and you want to build a small business only then you need a smaller amount. Bigger capital = less chance of losing I think .

[Sanitough]

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May we know how much capital you can afford mate?

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There’s no business without its challenges, you might experience few of them at early stage but with determination, I guarantee you would overcome all the challenges and  at the end of the day you would be glad you started.

You need to have that determination because you are risking  a lot of money in this business.
But to guarantee a success, I disagree with it as business is a gamble, therefore the future is uncertain, either you loss big or your win big, that's the reality here. The way you handle your business will define your future, and determination alone is not the key, you need to have an effective business plan to succeed.

[Polar91]

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May we know how much capital you can afford mate?

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There’s no business without its challenges, you might experience few of them at early stage but with determination, I guarantee you would overcome all the challenges and  at the end of the day you would be glad you started.

But to guarantee a success, I disagree with it as business is a gamble, therefore the future is uncertain, either you loss big or your win big, that's the reality here.

It already came from you that your future in business is uncertain, thus it can be considered as gambling. Anything that you put at risk without being certain on its future is considered already as gambling regardless of your efforts and determination.

[guoyu78]

I don't have an estimate in mind but I agree that crowdfunding is the way to go. For that to succeed though, you better have something good to offer. If your just like any regular casino, why bother investing when they can just play with their money elsewhere?

Assuming you do get crowdfunded, if there's nothing that sets you apart from other casinos, the established casinos with just beat you, after all they already have userbase.

How about franchising a lottery outlet first? Those earn ALOT. Pool money from friends and once you've already paid them off, you can invest the income into an online casino. I believe the franchise cost around $10k.

You make a lot of sense actually; it will really not make any sense to spend such huge money to create a house and then come up with crab since there are a lot of already standard and well running casino house.

Estimated money to build this from my research is over 100 BTC and I am not sure anyone would want to waste this kind of money. So he would definitely learn all that would be needed to make it run smoothly and effectively. Franchising a lottery outlet is not a bad idea. People make so much money, it’s a good idea.

[Findingnemo]

Few hundred bitcoins can be a good capital for having gambling sites,less gambling capital will make your site to be less trusted among the reputed ones so make your capital as huge as possible but once you gained good capital your bank roll will increase from onsite and offsite investments.

[davinchi]

Even if you sell your house that wasn’t enough to start a gambling site..(not unless you have a luxurious house and lot lol)

Maybe its better for you to start gambling in your local place to have enough capital to make a online gambling house,because it is much cheaper and easily to operate as well

That a bit harsh to say. Why do you think he would be unable to raise the amount to build a gambling site ?
The OP only needed to know the capital requirements and challenges involved and what Is expected is for you to drop your suggestion and if you have no idea, maybe you should just skip the thread.

We are all very much aware that starting a gambling site is not a bed of roses and  I am sure the OP knows this and the capital needed is huge but probably he has a planned out strategy to raising the money.  Even though starting gambling in his local environs would be cheaper, it still has its own challenges.

[uneng]

10,000 dollars should be enough to start a casino. You can adjust the maximum bet proportionally to your bankroll: bigger the bankroll is, bigger the maximum bet will be. Not all gamblers will like it, because some of them want to play for real, with high bets, but that can be a beginning.
Once you start earning money with the small, average gamblers the bankroll will grow and you can offer higher bets.

(think twice before entering virtual gambling business, the competitiveness is too strong already)

[redsun114]

Even casinos with large capital can go bankrupt, its why casinos have max bet limits so whales can't demolish them.  Even though the odds are in your favor as the house it doesn't mean you can't hit a really long losing streak.

There are many sites with small bets as well as with huge bets offering as much as you want to play with depends on you. One can start it easily without holding a large capital but if you lose then you will have no chance to play if you have no coins left in your box. This play is only for people with enough capital and the ability to begin and lead it to the end will make the ways clear for a good game.