How can a new sportsbook gain trust?

[Apocollapse]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

[1714787738]

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[1714787738]

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[Wexnident]

In my opinion, the most important thing is honesty and openness. 

Representatives of the bookmaker's office must constantly conduct a dialogue with users and customers.  It is necessary to promptly inform about your plans, talk about current activities, respond to criticism, and admit mistakes. 

The client will forgive the bookmaker for any mistake if it is promptly recognized and corrected. 

Feedback from users will allow the bookmaker to improve its activities and become better.

I don't think forgiveness will be given in those cases, just that they at the very least know that the casinos openly admit to their mistakes, and are willing to compensate for it. That in itself brings about a reputation that the casino was made for the players and their services are for the players.

if they can't afford spending large money in marketing, they can still earn credibility thru time. it may be long and hard, but these players once you get their trust, they will be your loyal players. the reputation of the casino or bookie is not earned overnight. so that's fine if they won't run high-reward events. but at the beginning, at least hold some small events or bonus program. it doesn't need to be expensive reward. this is just to attract potential players. and for me, it is better to run bug bounty program rather than promotional activity. this bug bounty will further help improve the site itself and it will show that the site is sincere in giving good services to the players.

Players earned through marketing are mostly people who are in it for the bonus, they'd probably leave at first notice after said bonuses die down so really, players who join a casino through their credibility should be the market that a casino should target. If they can do marketing though, then all the better imo.

[Maslate]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

That's we should trust a casino that has a good reputation already because they are less likely to run since they are operating a profitable business. In terms of insurance, I don't know any casino that has that kind of features, so as a gambler, we just have to minimize the risk, don't store money on a gambling site, just actively move in and out your money.

[SirLancelot]

First of all, they should have service support that can reply to the queries of the new player and investor, having a good reputation will take time but it can be earned by providing satisfaction to the player when navigating the website and handling issues and also the security of the assets.

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Oh yeah having live support makes the bettors feel comfortable but the support must be able to help as well. I won't name casinos here because I don't want to defame anyone but some of the casinos have pathetic support which just tries to evade the question and eventually find a reason to close the chat or refer to email support.

Another thing that I personally look for when visiting a new sportsbook is some kind of a welcome offer or something like boosted odds. Because if a new sportsbook is not offering something unique as compared to the site I play currently, then no reason for me to switch over.

[Reatim]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

and this is why we must look into this matter also because we should learn what are the capacity of each casino/sportsbook when we enter because aside from legit site there  yet there are scams around the globe that only waiting for when to strike , what to victimized and where to seek victims.
and sadly this forum is the best target from them so better be aware of that as there is nothing we can do once we lose from scam site.

[dezoel]

When it comes to trust, there is nothing but longevity that can give a sportsbook the trust they are desperately looking for. I mean you may have the best design and lucrative offers but that doesn't earn you trust. There used to be a casino named something like goosebet and it looked very promising but then turned scam.

In terms of functionality, there are a few things sportsbook can improve to bring in more players

1- Bet placement times
2- Low min and max amount
3- Instant or at least quick cashouts
4- Bet cashouts for sports betting

[mindrust]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

Some of them casinos provide an option for the investors to participate in the casino's bankroll. But of course the casino/owner still takes the biggest share and gives the shareholders less then what they deserve theoretically. That's because the owner spent time and money to make the casino going and it has various expenses. Let's say the casino has a $100k bankroll. If an investor invested $10k into the bankroll, he should get 10% of the profits. But he gets less than 10%. Some casinos used to do this but I don't there are many left.

[Smartprofit]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

I wonder if the online casino industry has its own rating agencies?  Or is this industry not yet ripe for such innovations? 

Rating agencies are an important element of any industry in which the reputation of market participants is of great importance.  Ratings allow users to get an expert opinion about a particular online casino. 

This will protect users' funds and make gambling more comfortable. 

Perhaps there are such ratings, I just don't know about them?

[Shamm]

Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

[Peanutswar]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

Some of them casinos provide an option for the investors to participate in the casino's bankroll. But of course the casino/owner still takes the biggest share and gives the shareholders less then what they deserve theoretically. That's because the owner spent time and money to make the casino going and it has various expenses. Let's say the casino has a $100k bankroll. If an investor invested $10k into the bankroll, he should get 10% of the profits. But he gets less than 10%. Some casinos used to do this but I don't there are many left.

If you are a gambling platform running for a long time I guess its not ideal because you just exchange a small amount in short term than in long term, yeah what if they will run the funds still its a short term imagine those earnings they can get into daily active users or players into their community. Also its unexpected both it depends on the owner if they will give it back to their users but of course for the KYC users only might probably.

[Eureka_07]

Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

I do not think that $100,000 is enough as a bankroll of the casino. Even though a casino is just starting, there are some players that bets higher. They still got high rollers even though they just started. Imagine if they win a huge multiplier with $100 or up wager? I might be wrong, but I really think $100k is not enough if you want to have a thriving casino.

[Jemzx00]

Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

I do not think that $100,000 is enough as a bankroll of the casino. Even though a casino is just starting, there are some players that bets higher. They still got high rollers even though they just started. Imagine if they win a huge multiplier with $100 or up wager? I might be wrong, but I really think $100k is not enough if you want to have a thriving casino.

The amount of bankroll of a certain casino will depend on how they operate their platform. If the owner will start a casino with just a limited amount such as 100,000 dollars, then possibly they must also prefer to limit the betting amount. However, it is a must to have a huge bankroll for a casino as there are always high rollers that will be betting high.
Also, having a good reputation will require good service whereas users will not be encountering issue especially for withdrawal. However, trust and reputation does not happen overnight so they must be patient and continue providing good service, promotion and events in the long run.

[nakamura12]

Quality does matter and if the community won't able to see such quality in terms of giving good service then it would really be resulting into rejection or being getting ignored because people won't really be that interested into something which haven't able to meet their preferences or expectations.

Getting trust specially for a new service or platform isn't something simple because it would be depending or composed of different factor's which you do need to meet up so that you would get such recognition.

It's not our problem if they didn't meet the expectations of many gamblers on the site that they will be introduced. If I were the owner then i'd surely meet the quality wanted by many gamblers and a 24/7 customer support if they ever wanted to ask questions, inquiries and reporting bugs. Time goes by, it will be trusted and known just like the reputable gambling sites that are known here but we can't prevent that even reputable casinos also have slight issues.

[Silberman]

Sportsbook can't gain trust of customers easy and it needs time, maybe years for people to get familiar with some betting websites.
We have in bitcointalk forum some good examples like Sportsbet, Fortunejack or Roobet that created good reputation, and they are very active in forum.
This is the right path that is giving good results for everyone.

True, it is understandable that a new casino may like for this process to be as short as possible and to be recognized by the community as one of the best casinos that we have available in this market as soon as possible, but this is not a process that can be shortened at all, and if anything as time has passed the more time this takes as the number of great casinos has increased, and as such those casinos need to wait and build their reputation for an even longer period of time before they can be compared to the casinos that have the best reputation in the forum.

[ScamViruS]

Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

I do not think that $100,000 is enough as a bankroll of the casino. Even though a casino is just starting, there are some players that bets higher. They still got high rollers even though they just started. Imagine if they win a huge multiplier with $100 or up wager? I might be wrong, but I really think $100k is not enough if you want to have a thriving casino.

They will need to manage the casino to the best of their ability. Because if a casino does not have the ability to manage a big bankroll, then they have to go ahead depending on the bankroll they have. The main responsibility of a casino is to give importance to the customers, if they want to continue that casino for a long time. When a casino gets a good number of customers, they start thinking about how to increase the bankroll and make the reputation better than before.

[Quidat]

Money capital in the bankroll of the casino is a must and $100k dollars is a good start in the new casino because if a player wins they can provide and they can also sustain the withdrawal of winners and through this scenario and a gambler successfully withdrawn for sure they leave a positive feedback and that's the start of a good reputation but the most important Thing is they must handle their customer well.

I do not think that $100,000 is enough as a bankroll of the casino. Even though a casino is just starting, there are some players that bets higher. They still got high rollers even though they just started. Imagine if they win a huge multiplier with $100 or up wager? I might be wrong, but I really think $100k is not enough if you want to have a thriving casino.

They will need to manage the casino to the best of their ability. Because if a casino does not have the ability to manage a big bankroll, then they have to go ahead depending on the bankroll they have. The main responsibility of a casino is to give importance to the customers, if they want to continue that casino for a long time. When a casino gets a good number of customers, they start thinking about how to increase the bankroll and make the reputation better than before.

Building reputation and trust is the main goal of any business not only on gambling industry but also in other business as well on which giving out the best in all factors as much as possible
because once you do really make the community frustrate or you dont able to hook up their attention then there's no way that you would make your business would succeed.
It all matters with the offering and the service that you do give which would really be having that seamless experience without any hassle and people are being comfortable
on staying on which this should be the primary target.

[DoublerHunter]

Sportsbook can't gain trust of customers easy and it needs time, maybe years for people to get familiar with some betting websites.
We have in bitcointalk forum some good examples like Sportsbet, Fortunejack or Roobet that created good reputation, and they are very active in forum.
This is the right path that is giving good results for everyone.

True, it is understandable that a new casino may like for this process to be as short as possible and to be recognized by the community as one of the best casinos that we have available in this market as soon as possible, but this is not a process that can bee shortened at all, and if anything as time has passed the more time this takes as the number of great casinos has increased, and as such those casinos need to wait and build their reputation for an even longer period of time before they can be compared to the casinos that have the best reputation in the forum.

^ There is no shortcut to gaining trust from your users, it should always be a matter of time and it could take years before you can gain trust.
The same here in the forum that we are looking always for good casinos when it comes to their services and also, a community like this will give rate to the casino of what they are and most likely it will matter of the services that they give. They cannot even buy it.
However, contest and promotion will boost their trust to increase because of course the more satisfied users the more their trust scores will increase and the last of course, zero reports of scamming users even those major issues like selectively scamming their users and take time your withdrawal will arrive in your wallet.

[Wakate]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

This is one of the reasons why it's is very hard for a new casino or sportbooks to gain  trust because there are many things to fix as time goes on. The level of reputation a sportbook has could make more gamblers to have trust in it and also increase customers with time. There are many risk now in the sport and crypto industry and hack is one of the potential risk users and company owners must be aware about.

[suzanne5223]

Quality does matter and if the community won't able to see such quality in terms of giving good service then it would really be resulting into rejection or being getting ignored because people won't really be that interested into something which haven't able to meet their preferences or expectations.

Getting trust specially for a new service or platform isn't something simple because it would be depending or composed of different factor's which you do need to meet up so that you would get such recognition.

It's not our problem if they didn't meet the expectations of many gamblers on the site that they will be introduced. If I were the owner then i'd surely meet the quality wanted by many gamblers and a 24/7 customer support if they ever wanted to ask questions, inquiries and reporting bugs. Time goes by, it will be trusted and known just like the reputable gambling sites that are known here but we can't prevent that even reputable casinos also have slight issues.

@Hamphser You're right about what you said because the crypto gambler is ready to make use of any new sportsbook that meet up with their expectations but the number thing I think a new sportsbook need to first attract user before gaining their trust which i believe was among the factors every new sportsbook must have are good UI/UX, mobile friendly, good bankroll, Active support, fairness of the game result, fast withdrawal/deposit and lower withdrawal fee.
@nakamura12 It's our problem because the OP threw the question to us so that we can advise on what they need to do.

[virasisog]

I think that every sportsbook should have insurance of funds in case of a hack or something else that can happen.

Every sportsbook always have a bankroll since they need to pay their players if they win, but not all sportsbook have insurance funds to protect their players funds. I think new sportsbook wouldn't have this, if they got hacked and the hacker can stole all of the bankroll, they can just shutdown their casino and run away. They're nothing to lose and could just create another new casino.

This is one of the reasons why it's is very hard for a new casino or sportbooks to gain  trust because there are many things to fix as time goes on. The level of reputation a sportbook has could make more gamblers to have trust in it and also increase customers with time. There are many risk now in the sport and crypto industry and hack is one of the potential risk users and company owners must be aware of.

Providing security for users is one of the major aspects that could make a casino site reputable. Risks will always be there but assurance is also important for users who are also risking their funds. Providing good services such as smooth withdrawal also attracts more users. It will be a long process because reputation couldn't be gained with one click.