How much capital I need to be the House

[goaldigger]

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?.

[crzy]

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.

[swogerino]

You can't be the house without a structured and well detailed business plan. Then in this plan you will have your people which will also give you different suggestions to choose from. However as a bare minimum you need at least 50 Bitcoins and that is a low amount because a whale can play and if he wins , you have lost your casino. True good casinos start with 500-1000 bitcoins.

[Dreamchaser21]

That’s a lot of money, I’d better to invest on cryptocurrency and live a simple life with a lot of money. Its not easy to run business, you have to put more time and effort on that especially in a gambling site. Think again if you still want to push it through, look for some professional who can help you on this, I assume you are well aware on this.

[HiDevin]

You can't be the house without a structured and well detailed business plan. Then in this plan you will have your people which will also give you different suggestions to choose from. However as a bare minimum you need at least 50 Bitcoins and that is a low amount because a whale can play and if he wins , you have lost your casino. True good casinos start with 500-1000 bitcoins.

It's not like most of the casinos these days are crowdfunding by investors, so they don't really need to start with a large capital as long as they gain trust as the site grows.

Then the site can open up to investments and the site's bankroll skyrockets ( most of the time. )

[SyGambler]

it depends cause in theory you can start a site with any amount but max win would be small if the capital is small , for example you can have 1 BTC and set max win 0.01

gambling market is really profitable but there are tons of competitors so having success isn't easy especially when you don't have money cause you should spend money on marketing and events as well

the easiest thing these days to open a gambling site is to make it investor based , this way you may attract some investors and you will still be making a fixed percentage of the profit long run

I haven't experienced opening a site , but I mod in a site that's investor based and you can't imagine how hard it's to attract some new players even the site is really good

[eternalgloom]

Not that much actually. You can already be the house by investing in a trusted cryptocurrency casino.
Crypto-Games is one example and here are their minimum investments:

0.01 BTC, 0.25 ETH, 0.5 DASH, 1.0 LTC, 1.0 XMR, 20,000 DOGE, 25 STRAT, 50 PPC, 0.1 BCH, 15 GAS or 5 ETC

When you're an investor you are technically speaking the house.
Though, you should stay away from any website that offers leveraged investments, that's almost the same as straight up gambling your money.

[Oceat]

You can't be the house without a structured and well detailed business plan. Then in this plan you will have your people which will also give you different suggestions to choose from. However as a bare minimum you need at least 50 Bitcoins and that is a low amount because a whale can play and if he wins , you have lost your casino. True good casinos start with 500-1000 bitcoins.

It's not like most of the casinos these days are crowdfunding by investors, so they don't really need to start with a large capital as long as they gain trust as the site grows.

Then the site can open up to investments and the site's bankroll skyrockets ( most of the time. )

It's a long way to go if OP wants to be the house and as @swogerino said, OP needs at least 50BTC for a startup. Though whales could easily play your money if you are below on them.

I agree that it may not need a larger capital but with the help of some investors, they start to climb their way up to the top. But just like i said, it's a long way to go.

[STT]

. But how can i start? What do i need to do? How much capital do i need?.

Mostly you need a working site and a group of people interested in continually returning to play and put the effort to use your site.

The capital required would be a function of the size bets on the site, if you could get people to bet very low amounts and still be interested then you dont need much at all.   Its not impossible if the graphics were amazing or the gameplay on the site really involving, then the game sells itself and who cares about the money.

Maybe advertising could cover the server costs but I guess you would need startup fees to launch at least.   Very short term you could use free hosting of some kind I guess

[samcrypto]

Not that much actually. You can already be the house by investing in a trusted cryptocurrency casino.
Crypto-Games is one example and here are their minimum investments:

0.01 BTC, 0.25 ETH, 0.5 DASH, 1.0 LTC, 1.0 XMR, 20,000 DOGE, 25 STRAT, 50 PPC, 0.1 BCH, 15 GAS or 5 ETC

When you're an investor you are technically speaking the house.
Though, you should stay away from any website that offers leveraged investments, that's almost the same as straight up gambling your money.

Owning some shares of a gambling sites is the easiest way to become a house though its not that profitable but at least its hassle free and affordable. Bigger capital need in this kind of ambition, you can dig more on your goal but always set a goal that can be more reachable and possible, always be more realistic.

[leowonderful]

Make sure that even if you’re investing in the bankroll of a casino you’re only putting in a small much as you can afford to lose, as there’s always the chance you could lose part or all of your investment from a whale on the site you invested in or from the site you invested in being hacked. Both of these scenarios are rather unlikely, but planning for the worst is a good idea.

[goaldigger]

The mechanics are quite simple but the amount of capital you need to invest is really high. I dont know either what documents i need to have my gambling site legal. I guess ill just continue to bet on sites little by little and hold coins for the rest. But when the time comes i accumulate the amount of money needed, i guess it will be worth a try.

[Johnyz]

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?.

There’s no specific amount for that, but I know it will be too expensive. Maybe making your gambling site legal and apply for some regulations can cost you already a million so better not to do that at all if you don’t have enough resources. People come and play in a trusted gambling site and in order for you to be trusted, you must invest first big money to support for your gambling site.

[Oilacris]

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?.

Seems like you are completely blank about gambling business.Just like been said above by some members try to study first before jumping to this venture.
It sounds too easy but this business is still complicated and do really need some serious stuff to be done specially on thinking on how you would lure people to your site.
Its not really good to think for people to voluntarily come to a site without proper introduction nor popularity.Instead on earning few bucks you would lose up instead through expenses.

[eternalgloom]

--snip--

Owning some shares of a gambling sites is the easiest way to become a house though its not that profitable but at least its hassle free and affordable. Bigger capital need in this kind of ambition, you can dig more on your goal but always set a goal that can be more reachable and possible, always be more realistic.

True, you have absolutely no control over the house-edge that that particular website has, so profits will be limited because of that.
Starting your own casino is very difficult these days, I'd say that the market is quite saturated and it would be very difficult to enter it.

Unless of course, you can offer something unique or have massive funds for marketing of course.

[stomachgrowls]

--snip--

Owning some shares of a gambling sites is the easiest way to become a house though its not that profitable but at least its hassle free and affordable. Bigger capital need in this kind of ambition, you can dig more on your goal but always set a goal that can be more reachable and possible, always be more realistic.

True, you have absolutely no control over the house-edge that that particular website has, so profits will be limited because of that.
Starting your own casino is very difficult these days, I'd say that the market is quite saturated and it would be very difficult to enter it.

Unless of course, you can offer something unique or have massive funds for marketing of course.

We do already need some gambling games which isn't still on the market and if he create just another dice or card games then it would
really be a tough thing.Lots have failed or didnt get any attention or players because normally gamblers will choose the reputable ones rather
than on newer ones.Capital doesnt really need to be big but you must show that you do have the capacity to pay up the players so
max bet or winning should be set.There are lots of things to be considered first actually and its quite complicated overall and as an owner
it doesnt mean you would just need to sit down and watch your profits grow.

[bagalkot]

Just by playing some games and seeing the winnings of houseedge wont be good for you to take it that the house edge is always winning, their are some big gamblers who just bet high some bets and win high and go away so it will affect the house edge. so anything trying to start before that see all the views and cons of the projects and then think of starting your own gambling site.

[izanagi narukami]

Just by playing some games and seeing the winnings of houseedge wont be good for you to take it that the house edge is always winning, their are some big gamblers who just bet high some bets and win high and go away so it will affect the house edge. so anything trying to start before that see all the views and cons of the projects and then think of starting your own gambling site.

Every second matter, right ?
It's difficult to decide except you've learn more depth about capital/budget and I think 1 BTC still not enough especially if you finding big whale gambling in your place. You must prepare things very carefully or you will bankrupt without being expected

[avikz]

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?.

Lol! I seriously love your confidence when you think it doesn't need much effort. If I knew about this mentality of a gambling website owner, I would not even create an account with you.

Just like any other business, gambling business needs transparency and a genuine mindset to run a genuine business. I strongly condemn your business mindset which looks like an obvious future scam!

There's a feature known as "provably fairness". Do a google search to know what it is. Even casino owners don't have any control on the betting outcome.

[Hydrogen]

I've gambled recreationally over the last 8 or so years. Its a competitive industry where larger and more established gambling firms often hold considerable advantages over small and relatively unknown operations. There are also many underground gambling operations, which have ties to organized crime. Running a gambling business, these types of people would be your competition and you would vy against them for market share.

From a consumer's perspective, its not necessarily so much about start up capital. A person could conceivably run a gambling op with a low betting minimum of 0.00001 bitcoin and not need a lot of capital to sustain business.

I think that it is a competitive industry and people tend to forget success or failure can hinge upon how innovative or value intensive their end product is. Starting a business is like deciding one fine day to build and sell mousetraps. If you have a better mousetrap that makes things easier. But if your mousetrap is like everyone else's, your competition will often have many advantages and the luxury of experience which can be significant obstacles to overcome.