How much initial startup to Start Cryptocurrency Casino?

[Casdinyard]

There are people who crowdfund such expenses, but that's probably the worst thing you could do.  I say it's better to build using your own money, even if you have to limit bets in the beginning and have very few games.  You don't want to be the guy that borrows a ton of money to start an online casino, gets hacked, and then has people chasing you for money the rest of your life.  Be unique, offer a better experience, and grow slowly.  That's the way to succeed if you want my opinion.  Don't take a lot of risks, especially because other people's money is involved.  Just do your best and build something great without relying on others.

Agreed. Crowdfunding puts serious pressure to the developers and the ones who are creating the project in fear of not receiving the right reactions from their donators. Although that in itself is a good thing since it fosters competence on the developer's part. But for low-balled casinos in the making that is just cruel and unfair to them. It's always best to create it out of your own pocket, or maybe if the budget doesn't really cut it, create with full integrity and artistry what you could, and release it, if you market your casino right enough you'd gradually gain funding to expand your enterprise, but this is really an idealistic approach and it rarely happens if at all.

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[abel1337]

Having enough funds shouldn't be the only thing to focus on. Putting up a casino isn't an easy thing. It would require your skills and knowledge of this business and be honest, establishing a reputable casino will be hard if you can't meet the standards of most players. You have to make sure that you're also able to meet all the requirements needed to run a casino and where to get trusted people who could help you run this business successfully. You could risk a huge capital but you might lose it if you are not knowledgeable enough about what you are doing.

Some of those standards of most of the players you are saying required some money too. The market of online casinos are pretty tight right now and if you don't have any money to fund the promotion, You are easily at a disadvantage against other casino which literally spend a hundred of thousand just to maintain their loyal gamblers. Skills, Knowledge, experience, money and trusted partners are just some of the few needed factors that a casino owner should have. Missing some of it will put you in a dire situation where it would be hard for the owner to set up a reputable casino. Every thing has a process and being a reputable casino requires a long process along with the factors I have just mentioned.

[electronicash]

Having enough funds shouldn't be the only thing to focus on. Putting up a casino isn't an easy thing. It would require your skills and knowledge of this business and be honest, establishing a reputable casino will be hard if you can't meet the standards of most players. You have to make sure that you're also able to meet all the requirements needed to run a casino and where to get trusted people who could help you run this business successfully. You could risk a huge capital but you might lose it if you are not knowledgeable enough about what you are doing.

and there's marketing that is an endless spending of money for the casino to stay visible to users. you have to have deep pockets to make it. influencers are not asking tiny amounts of money to promote a casino. the casinos that made it to the top and stay on top for long spends tons of money for its promotion.

the 100k initial capital OP is saying is probably just putting a casino up and running. getting it to be successful is the most challenging for it needs more funds.

[BitcoinGirl.Club]

I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

$100k for marketing and promotions is fine. May be for the next 6 months but for a Casino the most important thing that they need is to have enough Bankroll. There are crazy people who will join your casino and put thousands of dollars. Most of the time they will not win but if they win big then you need enough backup money to pay them. I can not put a number but I will say something over $1M. The higher the better.

the 100k initial capital OP is saying is probably just putting a casino up and running. getting it to be successful is the most challenging for it needs more funds.

Let's say $2k weekly budget for bitcointalk signature campaign. That's $8k per month. With $100k it's only one years budget. How about others. The main source of traffic are the advertising networks where you will need to spend a lot of money. Affiliates will bring your clients but without massive advertising from the company itself, affiliates will not show interest too.

[chaser15]

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

If only casino owners or someone that has been involved in the casino business before especially crypto-gambling, will make a response here, that would be a good reference for you. I think there is the same topic as this before and as usual, no direct response from crypto-gambling owners that's why what you will see here is mostly based on people's knowledge and own ideas.

Reading lots of replies here, I think you know what should you do, for now, forget building and operating a casino until you gained enough knowledge about how to run it and understand everything, especially the overall cost of operation.

You are also referring to crypto-casino here and your bankroll reserve should be mostly in crypto. Your capital might not enough to cover your bankroll in crypto and with the volatile market as always, your decision to execute a conversion from fiat to crypto should be good timing as your funds are limited.

[dunfida]

Having enough funds shouldn't be the only thing to focus on. Putting up a casino isn't an easy thing. It would require your skills and knowledge of this business and be honest, establishing a reputable casino will be hard if you can't meet the standards of most players. You have to make sure that you're also able to meet all the requirements needed to run a casino and where to get trusted people who could help you run this business successfully. You could risk a huge capital but you might lose it if you are not knowledgeable enough about what you are doing.

and there's marketing that is an endless spending of money for the casino to stay visible to users. you have to have deep pockets to make it. influencers are not asking tiny amounts of money to promote a casino. the casinos that made it to the top and stay on top for long spends tons of money for its promotion.

the 100k initial capital OP is saying is probably just putting a casino up and running. getting it to be successful is the most challenging for it needs more funds.

On marketing alone then it wouldnt really suffice and its true that you would really be needing that deep pocket for you to be able to climb up gradually because if there would be no exposure then it would really be still

useless.Lets say that your site is good looking and does have those best games but literally just the same with competitors around but you dont have those advertisements or exposure then people would just
simply ignore it out and cant really get sufficient number of players which would lead up into disaster.

This is why crypto gambling casino is never been that a cheap type of investment, there's lots of things to be considered.

[goldkingcoiner]

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

I think you might be asking the wrong question. Instead of asking how much initial funding is required for Cryptocurrency Casino startups, you should be asking yourself how much funding is required to create a professional online crypto casino.

I think you would need an entire team first. Marketing, Legal, Development, etc.

That alone will set you back at least 100k per year. Then there are various costs like the regulatory fees, code audits and whatnot.

You could buy finished code and create another clone of some popular gambling website. But then you would just be another copycat that nobody is interested in.

Basically you should have at least 150-200k USD if you want to create something new, original and exciting.

[livingfree]

Agreed. Crowdfunding puts serious pressure to the developers and the ones who are creating the project in fear of not receiving the right reactions from their donators. Although that in itself is a good thing since it fosters competence on the developer's part. But for low-balled casinos in the making that is just cruel and unfair to them. It's always best to create it out of your own pocket, or maybe if the budget doesn't really cut it, create with full integrity and artistry what you could, and release it, if you market your casino right enough you'd gradually gain funding to expand your enterprise, but this is really an idealistic approach and it rarely happens if at all.

There's always the cause in most start ups if it's about the investors money and their partners that might protect them like an unexpected turn of events making the project into its low.

They could bail out from that scenario and just file a bankruptcy afterwards. But I do agree that starting from your own pocket is better so that you won't have any problems with other people if it's related to money matters.

Well, if you're that someone that don't want to think about such problems that might not give you a good night sleep at most times, just don't crowdfund unless you're an expert on it and you're not just promising to target at the right dates for deliverables.

[darkangel11]

I think you might be asking the wrong question. Instead of asking how much initial funding is required for Cryptocurrency Casino startups, you should be asking yourself how much funding is required to create a professional online crypto casino.

I think you would need an entire team first. Marketing, Legal, Development, etc.

That alone will set you back at least 100k per year. Then there are various costs like the regulatory fees, code audits and whatnot.

You could buy finished code and create another clone of some popular gambling website. But then you would just be another copycat that nobody is interested in.

Basically you should have at least 150-200k USD if you want to create something new, original and exciting.

You can make a shitty casino that you run with a friend in your spare time or you can have a big one with 50 employees. This is a rule for every business. In the game industry people make small studios and succeed with their games. You can find games on steam that look like they were made by 1 person with almost no budget. It's the same with movies and altcoins in the crypto space. I've met a guy who was running a bitcoin exchange operation all by himself. He'd sit in the office and run support for a single ATM and it worked! Now he has 2 employees and 2 ATMs.
I think he can make it with 100k if he knows what to do. 

[ajochems]

Two types of casino is their, one is small casino companies. They don’t trust themselves and don’t allotted good money as investment and promotion works. Actually it’s their blunder they need to flexible on spending money. Because they will earn from the casino or gambling for sure. Because they will made many games, not all the people win from all the game. If they promote good, they will earn good for sure.

[goinmerry]

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

$100,000 might be enough if we just talk about starting a casino.

But once you are now in the actual operation, that's where your budget might be put in jeopardy.

You can't expect profits to flow right away on your casino. With lots of already established casino websites here, it's hard for a new player to make some entry while trying how to allocate $100,000 capital where in fact, once you started your casino, the amount of your money might now reduce by over 75%.

Bankroll, operational cost, non-stop marketing - maybe consider trying other businesses instead.

[n0ne]

If you had a family member with the crypto currency, you can use their money to play some gambling games using crypto currency. Because most of the casino is based on the crypto currency based gambling. It’s essential to play the game and then you can acquire knowledge easily.

Yes, playing with cryptocurrency on gambling sites have turned to be normal as we've got good list of gambling sites with cryptocurrency acceptance. When it comes to starting own casino there is a requirement for good bankroll. In the past it is quite hard to find a casino with cryptocurrency acceptance as there are very limited number of opportunities available.

[uneng]

With so much competition in gambling field you will need to invest a lot of money to start your company decently. You have to pay for the slots games and live games which are provided by a third party company, purchase website's template, basic games and buy a license to operate legally. I won't count costs with employees, because that is optional if you can work by yourself or with a partner only.

And even investing big money there is no guarantee you will have enough traffic and income in your casino to recover the investment and grow within time. The secret to be successful on this business is to be innovative. Years ago gambling sites were plain and simple. Only a dice game was enough to make profit, but now it's different. The industry has evolved and the services are complete now. You need games' diversification, modern layout, frequent promos and marketing campaigns... Also, you must be courageous to put money on it and recover only after 1-2 years (if successful).

[ethereumhunter]

Two types of casino is their, one is small casino companies. They don’t trust themselves and don’t allotted good money as investment and promotion works. Actually it’s their blunder they need to flexible on spending money.Because they will earn from the casino or gambling for sure. Because they will made many games, not all the people win from all the game. If they promote good, they will earn good for sure.

The problem is that only a few people know how much money it takes to create a casino or promote it because it also depends on the amount of money one has. If they have little money, they may have to think about how they can get a casino and how much they must spend to promote it. It wouldn't be good to borrow money just to set up a casino, especially if they didn't make the calculations beforehand. Creating a small casino used to be okay while trying to collect profits from players. And even though it may seem like a long time, it's the least they can do to grow their casino. Everything starts with things that look small and then they can become big.

[Iroh]

OP, Trying to start up and run a casino is no easy feat. There are hurdles and I mean a lot! Starting from your license to enable you run to full time marketing. You need to make your new and unknown casino known and that is no easy feat. You would have to spend a whole lot of money to put yourself out there. Not forgetting that there are old, reliable, trusted and known casino out there who would definitely be a competition to you. You would have to offer madly attractive promotions and services and all that requires money. Obviously, you couldn’t handle all that by yourself and would need to have a staff working either full time or part time.
If you’ve got $100,000 to play around with, I would ask you think really hard before you put up a casino.

[robelneo]

Development costs for a crypto casino are around 3k, and from there you can build a bankroll from your first withdraws. It will pay for itself if you market correctly.

Did you create that username because you're selling a casino development service if you are, you should be an authority on this kind of topic and you can fully explain everything in detail about starting up a casino but you posting nonsense like this with no further explanation or back up your post, you should create a breakdown of that $3k  because its subject for further discussion when many people are discussing casino at $100k, please don't offer a cheap looking casino if that's what your $3k can set up, its a disservice to your potential client and people will think that you just want easy money.

[madnessteat]

OP, Trying to start up and run a casino is no easy feat. There are hurdles and I mean a lot! Starting from your license to enable you run to full time marketing. You need to make your new and unknown casino known and that is no easy feat. You would have to spend a whole lot of money to put yourself out there. Not forgetting that there are old, reliable, trusted and known casino out there who would definitely be a competition to you. You would have to offer madly attractive promotions and services and all that requires money. Obviously, you couldn’t handle all that by yourself and would need to have a staff working either full time or part time.
If you’ve got $100,000 to play around with, I would ask you think really hard before you put up a casino.

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

In my opinion, the most money to be spent on attracting customers, as when you enter the market, customers will have to be enticed from other gaming sites, and it is quite problematic.

I think that the $100k may not be enough to promote the casino and get a good reputation. If I wanted to open a casino I would first calculate all the costs for a couple of years of non-profitable existence, and then decide whether it is worth it. 

[pawanjain]

I think it is subjective because for one person $100k would be more than enough to start a casino whereas for the other it would might still not be enough.
Lets make it simple. In order to build an online casino it would require a domain and few developers to build the website.
You will also have to partner with a gaming provider to implement few games and also a support team.
Initial investment of $25k should do the job. Lets take $50k for the bank roll and so a minimum of $75k in the beginning would be needed to start an online casino.
These are just high level estimates and the real estimates could differ a lot.

[SirJohnVonSlotty]

In fact, the license for online casinos is not so expensive. If I am not mistaken, the license in Curacao costs about 15k euros, and in Malta about 25k euros.

Yes, the license is cheap, but the requirements that you need to meet before you apply aren't

For MGA, the Malta one, as an example, you need to have a developer in your team that has experience with iGaming with a minimum of 3 years of experience. People like these are 60k EUR per year easy.

For the Curacao that you mentioned, you need to have an office in Curacao and the site needs to be hosted in Curacao, with minimum bankroll requirements.

[rahmad2nd]

Hi guys I wanted to ask some of big family members who have experience in crypto and also in gambling. But my experience is not good in gambling.
If someone wants to start a Gambling casino online with Cryptocurrency than how much money is needed. I think that 100k dollars initial capital would be enough to satrt a better casino. Cause we have to promote and also do other such promotions.
So what are your thoughts?

Online casino business is a profitable business. however, to run this business is not as simple as you think, believe me. moreover, if you want a centralized casino. Besides you need the web as a basic material for building an online casino, you will also need a team to manage the online casino that you are running. before that, you must have a license and I think the cost varies greatly depending on needs.

however, what is certain is that you will need large funds and you must also have adequate financial logistics for the operational needs of the online casino that you are running. not to mention, you and your team must have good management, at least need a few workers in their respective fields. You also have to do promotions, so that the online casino that you founded is known to exist. I have no knowledge, how big the budget is needed. but if you want to have an ideal casino, like the casinos on our forum. I think, with an initial capital of 100k it's not enough.