Opinion on crypto casino project

[itchiba]

Alright any software developers in here willing to give it a go ? Message me !

What kind of development do you mean?
I hope you are willing to explain it here because this is your thread so that if all development and updates are included in this thread it can provide information to all members who enter your thread instead of asking to be able to contact via private messages.
This thread is made for public purposes so any update regarding development you should say here so that we all can know and understand it in details.

This is a suggestion so you can gain trust instead of making users wonder what exactly was going on in the development.
Please understand.

I meant developers looking to collaborate with me in order to build a centralised crypto casino platform. It can be done publicly I have no problem with that !

~snip~

Well, you're right but quite missing some points. Every gambling sit or online casinos could give huge offers to welcome new players in their platform. They could also provide the same kind of games if that would be the demand but what keeps a casino alive is its players' loyalty. How would the players stay in one site? Quality of service. This is somewhat being forgotten by new ones in this industry but I believe this is the most important thing a casino should have. No delays with payments, less issues with fraud, and no cheating instances. This would establish a trust from your players and that will eventually be your edge over others.

Yes, so quality of service is one the thing that comes back a lot in this thread. When you compare it to big players like stake, roobet, etc .. What can be improved on the quality of their service ?

This is a good place to start. But I guess you will have to open another thread for this. It seems everybody here is only responding to your original post.

I think it's all right to ask the users of top or popular casinos what particular challenges, problems, or complaints they have with them. Or perhaps what particular improvements they wish to see in their favorite casinos.

But, to be honest, it's probably just about how much money you have. It's largely just a battle of promotion and marketing. When your casino has free and instant withdrawal, provides 24/7 instant support for players, doesn't ask for KYC, provable, has high withdrawal and deposit limits, offers generous bonuses and freebies, low house edge, has a wide array of exciting games, and so on and so forth, it's good to go. The only problem is how to reach potential gamblers. You need money for it.

I truly believe that if we manage to build a casino hand in hand with the players, we can get it off the ground without a large amount of capital. Then in order to scale it will require more capital but online casinos are renowned to be substantially profitable which means you can bankroll your growth without relying on external funding. You're right I thing opening a new thread might be a better idea if I want feedback from the players on what they'd like to improve.

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[Porfirii]

It sounds great when you say that you believe in building a casino hand in hand with the players, but the , why not make it fully decentralised? I don't know, maybe this is not technically possible, or unviable from the point of view of the business, but if you managed to create a truly different service, it could be a boom.

[itchiba]

It sounds great when you say that you believe in building a casino hand in hand with the players, but the , why not make it fully decentralised? I don't know, maybe this is not technically possible, or unviable from the point of view of the business, but if you managed to create a truly different service, it could be a boom.

Simply because it turns out to be unpractical from the players point of view. The main one in my opinion being the transaction fees every time you want to play. If we're looking for a high quality customer experience then centralised is the way to go.

[decodx]

It sounds great when you say that you believe in building a casino hand in hand with the players, but the , why not make it fully decentralised? I don't know, maybe this is not technically possible, or unviable from the point of view of the business, but if you managed to create a truly different service, it could be a boom.

Simply because it turns out to be unpractical from the players point of view. The main one in my opinion being the transaction fees every time you want to play. If we're looking for a high quality customer experience then centralised is the way to go.

I don't really consider transaction fees as a major problem. There are blockchains with free or very low fees. However, we've already discussed several other relevant issues before. Take domain purchasing and hosting, for instance. No matter where you acquire a domain or host your website, your casino site will come under regulatory scrutiny. Or it will simply be blocked or shut down.

I truly believe that if we manage to build a casino hand in hand with the players, we can get it off the ground without a large amount of capital. Then in order to scale it will require more capital but online casinos are renowned to be substantially profitable which means you can bankroll your growth without relying on external funding. You're right I thing opening a new thread might be a better idea if I want feedback from the players on what they'd like to improve.

I'm not totally sure it would work out that way. Imagine you somehow pull off creating a functional online casino on a tight budget, and, by some stroke of luck, you actually draw in new players. Well, now you'll require capital to handle potential big wins. Think about it – what if, for instance, a player bets $100 at x99 odds and strikes gold? You'd need a bankroll of at least $10k and more to cover that kind of win and stay in the game.

That's why I think that starting an online casino without a significant amount of capital is a very bad idea, unless you're aiming for a quick and risky adventure rather than a sustainable business.

[bitbollo]

My opinion
It is not the first time that a similar project has been proposed. the real question would be, what guarantees the profitability, liquidity and therefore the exchange of this new token/casino?
the profits (and consequently) the decisions by whom are taken?
is it really possible to launch a 100% decentralized project?

[piebeyb]

It sounds great when you say that you believe in building a casino hand in hand with the players, but the , why not make it fully decentralised? I don't know, maybe this is not technically possible, or unviable from the point of view of the business, but if you managed to create a truly different service, it could be a boom.

But usually things like that will eventually disappear too, not many survive decentralized casinos because of course there is a lot of pressure from the government and others so in the end you have to apply the rules too, we see sites like freebitcoin which so far have not asked for KYC now they will implement it, not forever decentralized casinos or gambling will last.

Some of them may have started following government regulations and changing strict rules. In the end, for this reason, we cannot say that this will be great in the future, because there are many things to think about, that in fact we, as gamblers, are not happy with KYC. so a decentralized existence like this is definitely supported but the fact is that on the ground they stopped the business and just disappeared.

[slapper]

Believe a decentralized casino without KYC will offer you an edge over the competition? Seriously? Are you familiar with the cryptographic industry? Unless your platform has appropriate security and trust, gamers won't flock to it

Consider running this "100% anonymous" site if you succeed. Do you understand the strain and attention? Large firms can navigate regulatory scrutiny with their influence. Are you sure you can dance here without burning?

This "no need for a license" nonsense? Funny and cute. Joke! But if you suddenly, against all odds, succeed and offer a truly anonymous platform? You would govern all casinos and be their deity, darling. Good luck until then. Need it

[Johnyz]

My opinion
It is not the first time that a similar project has been proposed. the real question would be, what guarantees the profitability, liquidity and therefore the exchange of this new token/casino?
the profits (and consequently) the decisions by whom are taken?
is it really possible to launch a 100% decentralized project?

On-point, there’s already an attempt but only few survive the market competition.
Though this is casino so guaranteed profit might not be there but the real concern here is the liquidity and the security of a decentralized platform. This is the common problem from a decentralized project, its security so better to analyze how the site can assure the safety of every gambler and of course the liquidity. 

[Casdinyard]

My biggest question mark about this whole decentralized casino thingy is that, how would you be able to protect your users against hackers and scammers? What is the base of operations when someone, let's say a gambler of yours found out that a hacker swiped his whole bankroll off of his bank account? Because the very least with KYC we'd get somewhere with all the investigations and proof that you can give out for whether someone really was hacked or whatnot, with decentralized casinos that couldn't be done.

What would you do in these types of situations, plus besides the fact that your casino's catering to the people who wanted to stay private, what else would you be able to provide to the table? The whole industry's been very comfortable with the whole KYC setup now and if the only thing that's going for you is the fact that you don't offer KYC, you guys would have a pretty hard time getting people to trust you.

[famososMuertos]

An "ideal" crypto casino includes decentralization, withdrawals are immediate, and there are no limits on deposits and withdrawals. And put the icing on the cake with a royalty system that allows the famous win-win phrase, that is, the Casino wins and the players benefit.

With the latter, several casinos try and have tried, including distributing the profits with tokens, Baul, etc. but the formula has not worked, if you look at the most successful casinos, they follow the traditional idea of Fiat casinos and in fact they are so similar that KYC is not missing from the winning formula.

[Saint-loup]

Yes I think it's a real good idea because people are more and more wary of crypto centralized casinos. Many testimonies of customers, especially winners are surfacing here and on other medias about account locked with their funds while casinos are asking endless KYC in order to keep their own funds and their winning. Even from the largest ones like the one you've mentioned.
So decentralized casinos will certainly attract more and more gamblers in the coming years, especially the full decentralized ones that don't require any deposit and send winnings directly to the wallets.

[serjent05]

I truly believe that if we manage to build a casino hand in hand with the players, we can get it off the ground without a large amount of capital. Then in order to scale it will require more capital but online casinos are renowned to be substantially profitable which means you can bankroll your growth without relying on external funding. You're right I thing opening a new thread might be a better idea if I want feedback from the players on what they'd like to improve.

If you have enough funds to run the site and supplement the bankroll by having the capability to pay huge winners then I think you don't need to rely on external funding.  But if you are limiting in the budget, there is no harm to race crowdfunding in order to make the finances of the planned casino stable.  You just need to create a justifiable deal for these investors.

Other creates token sales, or NFT sales that have an in-casino effect such as boosting rakeback, boosting cashback, and more (see Rollbit on how they do it)

[itchiba]

I truly believe that if we manage to build a casino hand in hand with the players, we can get it off the ground without a large amount of capital. Then in order to scale it will require more capital but online casinos are renowned to be substantially profitable which means you can bankroll your growth without relying on external funding. You're right I thing opening a new thread might be a better idea if I want feedback from the players on what they'd like to improve.

If you have enough funds to run the site and supplement the bankroll by having the capability to pay huge winners then I think you don't need to rely on external funding.  But if you are limiting in the budget, there is no harm to race crowdfunding in order to make the finances of the planned casino stable.  You just need to create a justifiable deal for these investors.

Other creates token sales, or NFT sales that have an in-casino effect such as boosting rakeback, boosting cashback, and more (see Rollbit on how they do it)

I actually never thought about this but do you guys think that using crowdfunding in order to kickstart the project would work ? What would make you want to contribute ?

[TimeTeller]

I truly believe that if we manage to build a casino hand in hand with the players, we can get it off the ground without a large amount of capital. Then in order to scale it will require more capital but online casinos are renowned to be substantially profitable which means you can bankroll your growth without relying on external funding. You're right I thing opening a new thread might be a better idea if I want feedback from the players on what they'd like to improve.

If you have enough funds to run the site and supplement the bankroll by having the capability to pay huge winners then I think you don't need to rely on external funding.  But if you are limiting in the budget, there is no harm to race crowdfunding in order to make the finances of the planned casino stable.  You just need to create a justifiable deal for these investors.

Other creates token sales, or NFT sales that have an in-casino effect such as boosting rakeback, boosting cashback, and more (see Rollbit on how they do it)

Hard to collect funds from crowdsourcing these days, so it is better to look for private investors instead.
If you truly believe that your project is quite strong, this would be easy to pitch with potential investors.
But if you can't even convince one investor, then, better think of your choices here because you maybe are wasting your time.
And even if you have enough funds, but lack of knowledge about this business, still no assurance that you will attain success.
Think of the people that will get involved in your project, a solo project is not advisable for long-term considerations.

[TastyChillySauce00]

I actually never thought about this but do you guys think that using crowdfunding in order to kickstart the project would work ? What would make you want to contribute ?

I remember many casino projects have been raised their funds to funding their project. It would work as long as the creator of the project being a honest developer. The fact that if people will be willing to contribute as long as there are promising thing like the project being backed by venture capital. The problem is how hard gaining the trust from the investors to help you in funding your project. The fact that if so many casino projects have been raising a lot of money to develop their platforms but they failed.

https://coinmarketcap.com/view/gambling/

I can't deny that how hard to build to gain the trust from investors these days as they will be only investing in your project as long as they will got something from you. It's pretty much the same like selling token. They will not be willing to give their money for you for free.

[Chikito]

I actually never thought about this but do you guys think that using crowdfunding in order to kickstart the project would work ? What would make you want to contribute ?

It depends on how you manage it, if you haven't a compatible team who can work together with you, then you will get zonk and all the crowdfund will be forfeited. You have to be careful, because it involves public funds, if you can't and make a big loss at one time, that possibly will be a big riot for your company. If I were you, I will avoid using crowdfunding, it will make you depressed and always chase in targets to manage the casino. Better to use the money that only you who manage it.

[Rabata]

Establishing a casino is not a very easy task. On the one hand you have to compete with reputable casino and on the other hand you have to spend a lot of money. When a new company advances both financially and competitively, it will be able to establish its business in the market. ‍and It used to be said that anonymity was one of the reasons why crypto casino gamblers preferred it but nowadays it is no longer possible. KYC is now mandatory in every casino. No one can ignore government laws., especially to prevent money laundering.

[Outhue]

After Stake casino success, few new online casinos started their business and they still become successful, you don't have to create an online casino right now and expect it to be top on the list in few months, it's a slow process.

The truth about gamblers is they don't like staying on one casino, remember, loses happens on any gambling platform either popular or not, Stake is very good but it's not everyone's favourite, because people still lose money on the casino too.

Most gamblers have two or three best casinos they use for gambling, I also use two online casinos myself, and KYC is also something you can't escape, if you start having high traffic on your online casino, regulators will come knocking and you will be forced to implement KYC verification.

If you can keep the NO KYC Requirement active on your casino, it's because your platform isn't well known yet.

[Haunebu]

Good thinking op. However, what you are aiming for is easier said than done. Many crypto gambling sites aimed to being completely decentralised sites by never requesting KYC at any stage, but that changed thanks to government intervention.

If you manage to somehow develop a site that is 100% legit and KYC free, kudos to you.

Your site would in such a case have the potential to rival top sites like Stake etc in the future though it was a humungous mountain to climb. All the best op!

[ethereumhunter]

Establishing a casino is not a very easy task. On the one hand you have to compete with reputable casino and on the other hand you have to spend a lot of money. When a new company advances both financially and competitively, it will be able to establish its business in the market. ‍and It used to be said that anonymity was one of the reasons why crypto casino gamblers preferred it but nowadays it is no longer possible. KYC is now mandatory in every casino. No one can ignore government laws., especially to prevent money laundering.

Having money is necessary to build a business and we are talking about building a casino, where it will cost a lot of money. We have to think of a promotion strategy that we want to do so that our casino can develop more advanced than before. Apart from that, we must be able to compete with other casinos that have already existed, so this will require promotions that are more and better than other casinos to attract the attention of these gamblers.