How to Start a Bitcoin Casino/Sports Gambling Business (Checklist)

[Gambling Domains]

yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.

Well, starting a gambling business is not easy but no business is ever easy. When you consider the return on investment, you'll realize it's worth the effort. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.

[upsidedown75]

yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.

Well, start gambling business is not easy but no business is every easy. When you consider the return on investment, you'll realize it worth the efforts. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.

Gambling business is a very profitable business, though with so many challenges at start up and like you have rightly mentioned, no business is easy, so considering the returns I think anyone willing to go into the business will also be willing to pay whatever sacrifice that is required to scale through.

It’s interesting to know that you can be of help in putting interested member through, but I would like to make a request if you can please make it public. I know many would be on the platform that are willing to know about the business and making it public for everyone would be better. Just my suggestion though, you might have your reasons for PM.

[Idrisu]

It would be a big help for those who are aspiring to have their own gambling business. I think capital is the most important aspect that is needed to start a bitcoin casino. Every business needs funds to make it firm. It's a great opportunity for those countries who are open to gambling business for it would be easier for them to create one and attract more players.

It is really capital and knowledge like the one op has shared that is needed to have a good gambling site.  I see many gambling spending a lot of money to develop their sites and even after developing spend another money for promotion and creating trust.  It really need knowledge and fund to have reputable gambling sites like Bustadince and fortunejack.

[justspare]

Thank you very much OP for this well detailed information, you have taken your time to put up this very useful and helpful information and I think you deserve all the accolades. But, starting a gambling business is not as easy as you make it look on your write up. I have seen many who started and gave up along the line.

In gambling business, you need a lot of capital and investors will definitely come in to raise the capital, then if your USP is not very clear you will have a lot of problems. You have to explain your differential at every step in your business. Every details needed at all point has to always be made clear to both investors, end customers and potential customers and this process is not that easy, and if its not handled properly at this stage the business could collapse.

[mich]

Very informative post and starting a casino/sportsbook is a very expensive business practice to become involved in.
It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.

[BUK2016]

I never no it really entails huge sum of money like what op mentioned above before one can set up a gambling company. Maybe this was the reason why many of them try as much as possible to raise money from ICO before setting up there gambling company.

[Dreamchaser21]

Very informative post and starting a casino/sportsbook is a very expensive business practice to become involved in.
It is to no surprise that I can see why most of the casinos offering ICOs have done so poorly.
They needed the proper funding they didnt have when they started their project.

Capital is the most important thing since you can’t start a business without this. Usually those who operates gambling sites have their own company who can really set up a gambling site. They have the legal team for this concern but this post can really help who are planning to have their own gambling site in the future.

[mersal]

A lot of people out there are looking for the real information on how to startup a Bitcoin Casino or complete betting site. So, I am going to present this short tutorial from the stand point of experience, not a mere hearsay. No doubt, gambling business is a capital intensive business venture, and it requires a lot of expertise in order to be successful in the business. Again Gambling (bitcoin based or not) is a highly regulated business in many regions. You need to have that in mind before contemplating your moves.

Having considered these important facts, I will now present you with (the step by step) what it takes to setup your own Bitcoin casino business.

1. Secure a World Class Name for your Casino/Bet Business

Name is one of the most important aspect in any business. If you get this wrong, you may regret later. I have seen a gambling company unable to fully reach their potentials because the domain name they decided to settle on was not good enough. Serious gambling businesses don't just pick any random names, they invest serious money to acquire well thought out names that will stand the test of time.

Check my other thread to learn more about gambling domain names and select from some of the best, carefully selected premium gambling domain names available for sale. There are many factors you will consider before choosing a domain name.

https://bitcointalk.org/index.php?topic=5125789

- The Domain Length - It is good for a gambling domain name to be too long. That will be it difficult for your prospective clients to remember or get used to your gambling website. You need a name that is short, not more than 8-caracters except if it is exceptional in meaning. The shorter the better.

- The Brand Ability - How brandable is the domain name? This is an important question your name must answer. Your name is your quality statement. It must be 100% brandable to enable you create a logo that will make lasting impression with your prospective customers or anyone who sees your betting site for the first time.

- The Pronounce Ability - How pronounceable is your gambling domain name? Make sure your domain name pass the radio test. How? Checks if people can spell your domain name when they hear it probably on radio. They need to be able to type in your domain in order to visit your website, so it’s critical that your name is memorable and easy-to-spell.

We have done the hard work for you. Simply select from these carefully selected Premium Gambling Domain Names that has pass all rigorous vetting.

2. Secure a Gambling License

Forget about what anyone is telling you, no gambling provider will work with you if you do not have a gambling license. Be it payment processors, software providers, feed providers, or even most Bitcoin wallet providers. No reputable one of these will agree to work with you because they too are regulated. If anyone promise to offer you a service with a license, then know it that he is attempting to scam you.

There are companies online that can help you with your gambling license. One of them is FastOffshore.com. Visit their site to find out more of the requirements to get different types of licenses. Choose according to your needs. The most popular if Curacao license. Below are some of the requirements for Curacao License -

Basic requirements are:

    Police Clearance Certificate / Certificate of no criminal record;
    Certified Copies of Passport* (the pages with photo and signature);

    Original or certified copy of a Utility Bill;
    Original Banker’s Reference (Relationship must be longer than 2 years)
    Original Professional Letter of Reference from an Accountant or Lawyer (Relationship must be longer than 2 years);

    CV / Resume;
    Details of Software including copy(ies) of software agreements and/or 3rd party certification of the RNG application and its fairness (if applicable);
    Proof of domain ownership;
    Copies of Terms & Conditions which must include underage gaming policy, responsible gaming policies, and AML policies.

The aforementioned documents are required from each and every authorized person, officer, director, shareholder, beneficial owner and ultimate beneficial owner.  

NOTE – All documents must be in English and dated no older than 30 days.

Where documents are not in English, certified English translations are required.

3. Get a Reliable Gambling Software

There are many reliable Gambling software and feeds providers out there. I am not here to recommend nor condemn anyone. However, I would like to point out how to identify a reliable gambling software provider.

Simply ask them to show you their current users. If they provide you with some well know gambling companies who are currently being powered by them, then know that they are reliable. Verify and be sure that these mentioned companies are truly running their business with the said provider.

But if the gambling software company you intent to use only provided you some stagnant or demo sites, run with your money. Serious software providers are always quick to flaunt their successful clients.

If you are able to get a reliable one and negotiate with them, they will provide all that you need. Such as, Casino, Sportbook, payment gateways, and even help with licenses.

I will be adding some more details as time goes on.

4. Cost to Build a Good Gambling Site

Curacao License cost about $19,000 for the sub-license which is perfectly okay for you

Good software vendor will charge you  between $30,000 to $70,000 for the all-in-one solution which includes Casino, Sportbook with over 30,000 monthly live games.

Premium Domain name will take $10,000 to $50,000 depending on the name. I can provide you really great names you can't find anywhere else.

Marketing and promoting will take around $100,000. Your budget may increase and the needs increases.

There are still some other costs involved, such as hiring staffs and initial payouts. I will be adding some more details about that later.

thank you for your time to provide this topic Tera so much of details are provided in this topic and I think if anyone had the wish to start a casino or based on gambling field it will be definitely helpful for them to make their journey start from here and I also think like to do it possible but I am taking the time to decide.

[Ayiranorea]

Gambling is getting to be one of the much competing industry with cryptocurrency acceptance and usage. Upon this it is completely a hard thing to start a casino/sportsbook without a large capital. Same as the capital large fund needs to be allocated for promotion of the gambling websites. Also it needs more regulatory compliance to be fulfilled which too requires a lot funding.

[Gambling Domains]

Yes, finances is one of the greatest challenges in setting up a gambling company. However, there's easy ways to get around it and not spend much, though substantial amount is still required.

Like I said earlier, I am open for assistance and partnership. If you are interested in starting your own gambling business, you can talk about it here and let's discuss it openly or you contact me privately through PM for a better one-on-one discussion.

You can also get a great domain name for your new and existing gambling business by following the link below -

https://bitcointalk.org/index.php?topic=5125789.msg50360798#msg50360798

Thank you all for your contributions so far.

Let's continue making this thread better and better by posting more helpful resources and asking some useful questions that may bring out good answers.

[futile-resistance]

yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.

Well, start gambling business is not easy but no business is every easy. When you consider the return on investment, you'll realize it worth the efforts. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.

It is a complicated process. Building a business in gambling is not that easy as it requires so much hard work and a team of specialists that look into every aspect that could double or half the costumer base. Sometimes you could imitate another already running business if you can change the same model. It definitely needs investment. But for a return which happens to be very big in gambling industry, it is no doubt worth taking the risk. This is the risk that will make you a man with influence over the industry unlike a common man in gambling.

[joshy23]

Very helpful guide op though it is a simplified version and it is a lot more complicated in reality. The primary problem that many new crypto casinos face is that they compete with successful and reliable websites which have been operating for ages.

People tend to not risk their investment in new casinos most of the time due to the risky nature of the crypto environment.

You got it right there mate,because this is just a simplification of the matter on how to start and how to obtain gambling site and business but the truth is the hardship is inside the operation when the site starts on its journey, most of the problem will came along and thata the most important part to address because the usual problem of gambling is the support and the accusations they will need to answer

[Gambling Domains]

It is a complicated process. Building a business in gambling is not that easy as it requires so much hard work and a team of specialists that look into every aspect that could double or half the costumer base. Sometimes you could imitate another already running business if you can change the same model. It definitely needs investment. But for a return which happens to be very big in gambling industry, it is no doubt worth taking the risk. This is the risk that will make you a man with influence over the industry unlike a common man in gambling.

No business is ever easy, not at the beginning. But as long as the bottom line is good, that's what business people are looking at - bottom line. Every other things will come in in-place

[Gambling Domains]

Very helpful guide op though it is a simplified version and it is a lot more complicated in reality. The primary problem that many new crypto casinos face is that they compete with successful and reliable websites which have been operating for ages.

People tend to not risk their investment in new casinos most of the time due to the risky nature of the crypto environment.

You got it right there mate,because this is just a simplification of the matter on how to start and how to obtain gambling site and business but the truth is the hardship is inside the operation when the site starts on its journey, most of the problem will came along and thata the most important part to address because the usual problem of gambling is the support and the accusations they will need to answer

Thanks for being part of the discussion

[buwaytress]

yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.

Well, start gambling business is not easy but no business is every easy. When you consider the return on investment, you'll realize it worth the efforts. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.

Think that's the point a lot of people fail to connect with. Business is downright difficult, requires a lot of hard work, and let's face it. Without true passion for the industry, you can't propel your business to great heights. Making it work is one thing, but taking things to the next level, taking it from mere workable model to success, that's hard work and luck, and both usually only possible with a real motivation. You can almost always tell a casino's owner from the website. Even a simple casino without the bells and whistles can look more appealing than one that relies on flashy UI to grab attention, but after 5 minutes on a website, you know who you're dealing with.

Not saying you should be a hardcore gambler or gaming fan to run a business, but you should also have some deep interest in making it do well.

[futuret]

It is a complicated process. Building a business in gambling is not that easy as it requires so much hard work and a team of specialists that look into every aspect that could double or half the costumer base. Sometimes you could imitate another already running business if you can change the same model. It definitely needs investment. But for a return which happens to be very big in gambling industry, it is no doubt worth taking the risk. This is the risk that will make you a man with influence over the industry unlike a common man in gambling.

No business is ever easy, not at the beginning. But as long as the bottom line is good, that's what business people are looking at - bottom line. Every other things will come in in-place

A successful business depends on a successful idea, as in this case it can be a successful one. You are providing a platform to gamblers but it is hard for the gamblers to decide gambling with their Bitcoins. You should consider this factor too in order to think for the success of your business. It is fine if you provide gambling with Bitcoin facility but I would say that it is not recommended much. Bitcoin holders will not think for gambling more than proceeding further in Bitcoin investment.

[Gambling Domains]

yes while reading this topic starting gambling business is not so easy for everyone and eat the more experience in gambling field that interest about the way of developing it is more important because people are more advanced right now so we need to save them with proper decision only they were making the interest on it more than normal days.

Well, start gambling business is not easy but no business is every easy. When you consider the return on investment, you'll realize it worth the efforts. I am willing to offer more consultancy to anyone planning to start a gambling business. PM me.

Think that's the point a lot of people fail to connect with. Business is downright difficult, requires a lot of hard work, and let's face it. Without true passion for the industry, you can't propel your business to great heights. Making it work is one thing, but taking things to the next level, taking it from mere workable model to success, that's hard work and luck, and both usually only possible with a real motivation. You can almost always tell a casino's owner from the website. Even a simple casino without the bells and whistles can look more appealing than one that relies on flashy UI to grab attention, but after 5 minutes on a website, you know who you're dealing with.

Not saying you should be a hardcore gambler or gaming fan to run a business, but you should also have some deep interest in making it do well.

Your statement captured perfectly the point I have been trying to make. Passion is the reason why there are inventions out there. It is hard to succeed in anything, let alone business, if you are not passionate about it. The same rule apply to gambling business too, passion + knowledge + capital = success.

[Gambling Domains]

It is a complicated process. Building a business in gambling is not that easy as it requires so much hard work and a team of specialists that look into every aspect that could double or half the costumer base. Sometimes you could imitate another already running business if you can change the same model. It definitely needs investment. But for a return which happens to be very big in gambling industry, it is no doubt worth taking the risk. This is the risk that will make you a man with influence over the industry unlike a common man in gambling.

No business is ever easy, not at the beginning. But as long as the bottom line is good, that's what business people are looking at - bottom line. Every other things will come in in-place

A successful business depends on a successful idea, as in this case it can be a successful one. You are providing a platform to gamblers but it is hard for the gamblers to decide gambling with their Bitcoins. You should consider this factor too in order to think for the success of your business. It is fine if you provide gambling with Bitcoin facility but I would say that it is not recommended much. Bitcoin holders will not think for gambling more than proceeding further in Bitcoin investment.

Thanks for your contribution

[BitBustah]

You need to be willing to spend a good amount on advertising if you want to get anywhere in this business.  You will be going against established casinos with a big amount of players.  The thing that a lot of these casinos are lacking is excellent customer service so if you can compete with that you will have good results.

[Ayiranorea]

You need to be willing to spend a good amount on advertising if you want to get anywhere in this business.  You will be going against established casinos with a big amount of players.  The thing that a lot of these casinos are lacking is excellent customer service so if you can compete with that you will have good results.

Well said, advertising is a must to make the gambling or any form of business more successful. I find most of the top gambling exchanges provide with the best support with the team. A large funding is required to create a good gambling website. Gambling business in cryptospace is the one to give biggest earning on investments.