Opinion on crypto casino project

[itchiba]

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

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[Oshosondy]

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

Many crypto gamblers prefer to use bitcoin but bitcoin is not having anything like web3. That is why centralized gambling sites are the commonest.

There are web3 casinos today but still the centralized ones are just the most common.

People that have no option but gambling restricted in their country may go for this, and people that like web3 (altcoins). But they should know that it is not decentralized against vulnerabilities and it is a good means someone can reveal his noncustodial seed phrase or private key to the site it is connecting too. Many scammers are using this to scam these days.

[ryzaadit]

Decentralized-casino always has less advantage for the game rather than centralized-casino.

You want zero-KYC, then you need (decentralized-casino) but have untractive game, most the time is about a simple house-game like (Dice, Jackpot, etc. Each of the game requireted/1tx more complicated.

People love to play with easy setup rather than complicated. I hate (KYC), that's why I love to play on casino with higher limit withdraw without (KYC) one of them are stake. I have experience withdraw more than 8000+$ without KYC (even right now my account still not being verified).

[FatFork]

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

You've got some good points, but I don't think you're completely right. Even with all those "big" and well-established gambling platforms around, new ones pop up all the time. Just take a look at this gambling section; in the last year alone, over 900 new topics have been posted. It's true that not all of these announcements about new gambling sites, but a significant portion of them are. Some of these new projects do well, others not so much. And then there are those that appear for a moment and disappear just as swiftly, leaving us wondering what happened.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

I'm not particularly drawn to decentralized gambling since it generally involves investing money in some form of altcoins, which is kind of a gamble on its own. However, I'm sure there have been some similar tries already. To dig deeper, though, you'd have to head over to the Altcoins section. Those puppies don't really fit into the Bitcoin gambling realm.

[BitcoinPanther]

Decentralized-casino always has less advantage for the game rather than centralized-casino.

You want zero-KYC, then you need (decentralized-casino) but have untractive game, most the time is about a simple house-game like (Dice, Jackpot, etc. Each of the game requireted/1tx more complicated.

People love to play with easy setup rather than complicated. I hate (KYC), that's why I love to play on casino with higher limit withdraw without (KYC) one of them are stake. I have experience withdraw more than 8000+$ without KYC (even right now my account still not being verified).

Aside from that decentralized casino is expensive.  Assuming it works like Uniswap, it only means that every bet a player makes is charged with transaction fee that is non-existent on centralized casino.  So the player have to pay for processing fee(if the bet won), bet, and transaction fee.

I also think that it is better to have a centralized casino with higher threshold to trigger KYC requirement.

[SamReomo]

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

I have gone through your words and I must say that everything you have said is exactly right. I also agree that in this time a new casino should think something differently to gain more users on their site. Like you said that Stake used Twitch marketing to grab most of its customers and other casinos also need to finds something like Twitch which would help them to grow faster. However, I still must say that the traditional way of marketing is also working for most of the casinos and if the marketing is done in a good way then for sure.

There are some good casinos which are working on decentralized model, but still I haven't found a casino that offer 100% anonymity to its users. I like your idea of creating a casino like that because most gamblers want to have something like that which would never ask them for KYC details. There are some good decentralized exchanges but so far there aren't any good decentralized casinos.

As far as I know that almost all casinos will need to have a license if they are hosting their services in a country. I don't think that any country would allow such casino to exist which has a model that makes it license free. If a casino has to work in a country then that casino has get some license in that country. The license also has its terms a conditions which a casino has to follow. Most of the countries would never care about a casino even it doesn't have a license, but when a casino gets a lot of users then in that case the license is a necessary thing to have.

I know a casino that works of provably fair model, and the name of that casino is L0tt0.com. The L0tt0.com offers games that work on the model of provably fair and the developer as well as the owner of the casino is doing his best to make those games work on that model. I would also recommend to go with that model as players will get ultimate satisfaction with such model. I must say that you should get idea first and then start working on them slowly and when you have some good games then you should make your casino live.

[Mate2237]

Good day everyone,

We appreciate your presence, feel free in the forum and read the rules of the forum in Meta Board

I'm interested to launch a crypto casino and I'd like to get your opinion.

You do well for that, the opinion pool is waiting to contribute.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

I don't think you assumption is correct. Crypto casino is casino platform to play games with cryptocurrencies and that means, the site is open every hours and play or gamblers can visit the site at all time so I don't know what you are sounding like this.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

Your services will bring people to the site frequently. If your services are good then you don't have to panic. And also your games will also attract people to the site.

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

anonymity days are over and any casino which is still operating anonymous system is under suspect because of what is happening these days.

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

100% anonymous? Ah a casino want to operate decentralized system. Since you said there will be no KYC, let wait and see how the casino will be. Good luck mate.

[Fortify]

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

The trouble with a "decentralized crypto casino platform" is basically that the owners, or at least the developers, would often need a monetary incentive to maintain it. What we also see with Bitcoin is that you need a network of many independent systems that give it an underlying stability, these third parties expect to get paid for using their resources, so there would need to be at a minimum a rake to cover the fees and that has to be finely balanced along with being competitive against current casinos. You're are as likely to launch a decentralized casino software as you are a new casino - either will take a lot of start up capital, or alternatively a long time to build the marketing up for it.

[Wexnident]

~
Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...
~

Or just, idk, offer better service than them. It doesn't need to be new in the first place, just, well, better. A lot of companies underperform, but sometimes due to monopoly people have no choice but to use said service. If a competitor who actually does things right pop up? Take a few years and people would naturally migrate imo.

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

Now, from my business understanding, in order to go after the dominant players in any industry and create a successful business, you need to do either something that they don't (ex: a unique exciting slot game that no one else has), or acquire customers through a channel that is overlooked by others (ex: Stake flooded Twitch when the other didn't look at it) or go after a dissatisfied customer base ...

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

Isn't this basically any other new casino out there promising anonymity? It usually doesn't last long, and as you've said it operates in a "grey area" so it's highly unlikely for it to be trusted early on, it'd probably take years before it builds up a proper reputation.

Honestly, KYC isn't bad (imo, don't burn me), the process that casinos ask for KYC is bad, dumb, and slow, and suddenly halts the user, freezing their funds without no rhyme or reason. Ofc if a casino can grow and build itself without KYC then sure, I'd go for it, but if it can't, the least it can do is provide quality service when it actually uses it.

[CryptoCasinoGeeks]

We run a review site and what we consider to be most important are exclusive games. It'll be hard to position yourself if you offer the same games as all other casinos. If, on the other hand, you work to add new and innovative games you can draw a player base of users who are bored of seeing the same 300 games by Pragmatic play on every casino.

You probably have a shot if you also complement this with good bonuses and promotions to draw new players in.

It's a tough market out there. Best of luck!

[DoublerHunter]

~snip~
Honestly, KYC isn't bad (imo, don't burn me), the process that casinos ask for KYC is bad, dumb, and slow, and suddenly halts the user, freezing their funds without no rhyme or reason. Ofc if a casino can grow and build itself without KYC then sure, I'd go for it, but if it can't, the least it can do is provide quality service when it actually uses it.

^I got your point here because for me, the issue is not necessarily with the concept of KYC itself, but rather with how some casinos implement the process, causing inconvenience and frustration for users. Providing a seamless and efficient KYC process, along with excellent customer service, can greatly enhance the user experience and build trust. Balancing regulatory requirements with user-friendly procedures is key to creating a positive environment for players. Probably your insights will highlight the importance of prioritizing user satisfaction and operational excellence and it will good if other gambling casino owner will know this too.

[goaldigger]

~snip~
Honestly, KYC isn't bad (imo, don't burn me), the process that casinos ask for KYC is bad, dumb, and slow, and suddenly halts the user, freezing their funds without no rhyme or reason. Ofc if a casino can grow and build itself without KYC then sure, I'd go for it, but if it can't, the least it can do is provide quality service when it actually uses it.

^I got your point here because for me, the issue is not necessarily with the concept of KYC itself, but rather with how some casinos implement the process, causing inconvenience and frustration for users. Providing a seamless and efficient KYC process, along with excellent customer service, can greatly enhance the user experience and build trust. Balancing regulatory requirements with user-friendly procedures is key to creating a positive environment for players. Probably your insights will highlight the importance of prioritizing user satisfaction and operational excellence and it will good if other gambling casino owner will know this too.

A cryto-user friendly casino can be more ok even if there’s a KYC and honestly the issue with decentralized is that, we can’t fully trust the platform itself especially if its a new one and that’s why many still prefer to go to the centralized platform where they have the assurance that they are dealing with the legit site and they will have no worry about putting big money and gamble big.

[uneng]

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

I think this is a bit contradictory, since those decentralized platform have disappeared due to not having a large base of users anymore, as players migrated to centralized platforms. The complaints you heard and read don't correspond to a considerable percentage of gamblers when you compare to their total. Of course there are gamblers who care about privacy, so they would like to play anonymously, but they aren't a big group, and that is why main gambling companies aren't concerned regards this demand.

[seoincorporation]

You can't make a decentralized casino because the ones who have the servers and the source code are the ones who decide the rules of the game, and in other words they have full control of the project. I mean they even have the servers and can shut down the project at any time, that's why the project would be centralized.

But I get your point, it would be nice to see a site that doesn't have KYC and the games are probably fair, just like it used to be in the old days. But there is a problem with that, and that problem is governments wouldn't allow it and would tag a business like that as money laundering.

[robelneo]

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.
Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

It's just an idea so far but I think getting feedback from real players is the first step to validate my assumption !

It's not what you think will attract them but what players think will attract them to play or go to your casino, one of these is a variety of games like what the top casinos have can be integrated into a decentralized casino platform, we cannot compare an exchange to a gambling platform, its more complicated on casinos.

The majority of players support Stake because they think it's a big company that high rollers can trust with their hundreds of thousands of dollars or even millions and Stake has a responsibility to their players because they are under monitor because of the license they have, can we have all of these in a decentralized exchange.

It's not that Stake cannot be beaten or a new casino can't take a slice of the cake in the gambling industry, they just have to do better than what is an already successful method, a new casino can gain the trust of new players if they work on their trust and do extensive marketing, yes establishing trust and extensive marketing are the two keys, Duelbits is one example to this, there's no need to create a new formula.

[Lanatsa]

If a certain casino would be able to apply these things into his site then it would really be that much preferable.
The question here is on the ff;

1. Do a certain platform would be able to last long that they wont really be getting regulated? Whether we do like it or not people do prefer those who do have licensed
2. Decentralize connecting your wallet? Its a hassle thing and people doesnt really like on connecting or hassling on their wallets but rather prefer on making direct deposits
3. Showing bet hashes of bet verification is always been that preferred where people could make verifications and prove out that all rolls are fair

Frankly speaking on which on the current market that we do have today on which it is really just that almost the same or identical on what they are offering. If ever there's
one who would be offering something unique or havent seen on this market until now then it does have the chance that it would really be getting that kind of attention and recognition
in that case.

[suzanne5223]

Good day everyone,

I'm interested to launch a crypto casino and I'd like to get your opinion.

My assumption is the following. The time where anyone could create a crypto casino and had a chance to compete is over. There are now very large companies like stake who have a dominant enough position to attract players with their affiliate deals, celebrity endorsements, welcome / retention bonuses and so on .. Most of the crypto casinos have the same platform design / game offering as stake which means trying to compete with them with bonuses isn't realistic.

The crypto casino market is a broad market and the chance for you to create a new casino is not over and you don't need to compete with the industry leading casino to dominate the market.  Besides that is not what most crypto gamblers focus on. What they focus on is the fairness of the casino,  good customer support,  fast withdrawal and license but in another situation some gamblers don't get about licenses. 
If you can do all this with the inclusion of a good marketing campaign for the long term on this forum,  the casino will also be among the industry leading casinos.
If you need help with the marketing campaign contact me and let's talk about it.

[TastyChillySauce00]

I've come across multiple posts where the original bitcoin gamblers regretted the fact that none of the crypto casinos are anonymous like they all used to be, almost all of them requiring KYC at some point of the customer journey.

Some didn't like KYC but it's not a problem. People can still play with tiny amounts of money if they are not willing to fulfill KYC requirement.

I think this is an opportunity to build something :

A real decentralised crypto casino platform - 100% anonymous.
Same principle as a decentralised exchange like Uniswap, all you need to get started is a non-custodial wallet with funds. No KYC.

There have been so many web3 casino. I can tell you one like moonbet.

Being fully decentralised and using exclusively crypto means we're operating within a grey area in the eyes of the law and therefore "no need" for a license.
I believe that in order to gain trust, using only provably fair games would be a great idea in order to show that it isn’t rigged.

You just need to wait the regulator will come to ruin your business as it can be seized by them due to the money laundering purpose. Did you think you can stay away from the regulator by operated your platform in the gray area? I would prefer to play in the licensed platform. There have been so many casino based on web 3 but people didn't prefer to use it.

[Fivestar4everMVP]

Well, I also have had and still have dreams of building and managing a crypto casino some day when I become financially capable enough, and several times, I've thought about a decentralized casino since there are several big and well doing centralized casinos already, and competing with them is too advisable, but then again, with what I have seen around as a gambler, I've come to the conclusion that building a decentralized casino is not feasible at this time, though several gamblers complain about lack of anonymity in gambling this days, but I can tell you all that, gamblers interest in decentralized casinos are currently zero at the moment, this is from my experience on this forum, I've been here for a while and I've seen decentralized casinos, several of them get introduced on this forum, but in a couple of weeks, their Ann will be no where to be found due to lack of patronage/users..

So @op, if you are serious about building your own casino, then look away from building a decentralized casino at the moment, doing this will be a great mistake, build a centralized casino and install unique and useful features that will attract customers instead.
Just my opinion though.

[sunsilk]

You're right OP but going into the competition and do something that the popular casinos haven't done before is going to take you miles. Honestly, even if you've got a good idea but if you don't have the funding. You'll still struggle.

And from that perspective of going with the projects into decentralization and anonymity. You'll just be flagged down by the government, many projects did that before but to no avail. I say that you've got a good understanding of what's happening and has a good idea based from that.

But, you've missed a lot of it that had happened in actuality before and most of them never succeed.