Advise Someone about Gambling Platform Business

[Coin_trader]

1. What are the first things to put in place before starting?

Money. You need shit tons amount of money before you consider setting up your own casino so that you can establish a casino that can compete not a mediocre one that is just a waste of money if no one use it.

2. What are the strength and weakness to consider with gambling platform?

Marketing is the core part of casino business since it’s the main factor that drive customers to casino. Weakness is the tough competition in the casino industry.

You can those cheaters and hacker that frequently exploit casino loopholes.

3. Can you hire a person to be in charge, for the business management of the gambling platform?

Of course If you don’t have that kind of skills.

4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Very profitable if you can establish loyal customers that wager huge volume. You can take as an example Stake which started from a small dice casino “primedice”. Stake is the biggest crypto casino right now due to their solid number of customers.

[Rabata]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Managing a gambling platform is not an easy task. To establish this, an entrepreneur must pay attention to various things.

In the first step, while opening a platform, there are some rules and regulations to follow, especially to get a license, he has to prepare for the necessary things. Understanding market policy should focus on how to attract gamblers.

A gambler platform must have some strengths and weaknesses to focus on. What I mean by strengths is that if the platform can attract more users by providing their good advantage then it is positive for them. On the other hand, if the platform cannot be made attractive to others, it certainly reveals a weakness.

Gambling platform management requires a skilled manager to help manage the platform properly. Special efforts will be made to solve the problems of gamblers.

Almost everyone can overestimate how much profit a gambling platform can make if it is well established. Although I have not directly seen anyone established, I have a little idea about this matter.

[Pandu Geddon]

3. Can you hire a person to be in charge, for the business management of the gambling platform?

you must be the first person in charge of the gambling platform you founded. but in the process of platform management of course you need a team or even work with people who have skills in their fields. although there is a possibility that you can do it yourself as a start, believe me, it will drain your focus and energy.

this business is clearly very profitable, but of course, it also requires a lot of capital to establish your gambling platform. you can see some casinos on the forum, and how some are new but ultimately cannot develop their market. the difficulty for newcomers in this business is the competition to gain trust.

[AliMan]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Firstly we need enough amount of money to capitalize certain gambling platform business particularly with crypto. Strength and weakness depends on how gambling platform works in the long term run of each activities. Most essential that you could hire someone who's knowledgeable and  loyal to the business and profitable business will be successful if well done with strong dedicated team.

[YOSHIE]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

Maybe, if someone wants to run or open a gambling platform business, if you look at it, it's easy, there are lots of them How to Start an Online Gambling Business: Key Points to Consider., One thing you can do is the suggestion above.

For this reason, for me, running a gambling business is the most important thing, namely being responsible towards its users, in fact that is the problem that most often occurs with new gambling platforms.

The gambling business is indeed profitable, but don't just think about profits, user rights are also needed, so that the gambling platform is friendly and safe for users to use, the point is to be responsible.

[KeenanEl19]

building a gambling business is not easy, it takes a lot of people to run a casino. in this case finance is the most important thing to consider, because of course to build a casino business requires a lot of money besides paying other people who work but we also have to prepare a lot of money for other things. and in my opinion not everyone can build a gambling business like this if their money is really inadequate it will not happen.

[Wapfika]

Don’t do it if you don’t have enough cash because it’s just a waste of money establishing a casino while you have insufficient funds to run it properly most importantly the marketing aspect of the casino.

Many aspiring casino owners loss a lot of money by buying software, acquiring license and hiring personal while they don’t want to spend money on marketing or rather they failed to market the casino properly. The result is the casino consistently burning operational funds without getting anything in return due to lack of customers.

It’s highly recommended to just consider establishing casino if you are willing to risk millions of dollar.

[Marvelockg]

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

these are basic questions anyone that's hoping to start a business should know by himself without necessarily asking a thier party for. Before thinking of starting a totally fresh gambling platform, it should have been best that you've been in the system and knows how everything works but just want to create a brand of your own and sort of some of the issues you've seen that's associated with already existing ones and that you want to improve on. If you have some basic experience, the next and most important thing is to get the finance that will bring your idea to life. With a good plan in place on how to run your gambling business and you've gotten your capital, setting a team that will work with you can be the next thing and then together with your team, you can gather information through a well organized suvor like what this thread can help out with and you will pretty much do fine from that spot. With regards to the question on how profitable gambling business is, if it's not profitable a lot gambling platforms won't continue springing out always every now and then.

[aioc]

If this is your first venture into a gambling platform, it is better to partner with people who are experienced in operating one. You can also hire experts to advise you on all the moves that you are going to make when setting up a gambling platform. This is foremost. Even if you have significant capital but do not know how to handle your gambling venture, you will fail and lose your capital.

Of course, being a player yourself can help but having people who know what it takes to run a gambling platform can increase your chances to succeed.

[shasan]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

You have mentioned several questions which have drawn my attention but I think the most important thing you have missed that should be how much we need to run a gambling business. Though maximum sites can make a profit from gambling yet there is a risk while the site owner can make a loss from gambling.

[Wiwo]

You have mentioned several questions which have drawn my attention but I think the most important thing you have missed that should be how much we need to run a gambling business. Though maximum sites can make a profit from gambling yet there is a risk while the site owner can make a loss from gambling.

The site owner indeed need alot of capital to run a gambling business even from the very start of the business this is because the possibility of gambler winning huge amount from the very start of the business, before the owner could even think or have the chance to any income when the business just kicked off.

So you are right on the risk of the casino owner, compared to that of the gambler who may not be so at risk due to his gambling management and not gambling with a big amount at the very start.

[SamReomo]

I would suggest you to read the AMA thread of SirJohnVonSlotty where you'll have all your answers. He has operated a crypto casino and he's much experienced in that department I guess. Here is the link of his thread:

I Operate an Online Casino

Although you may get advice and general opinion from members of the forum but most of them haven't operated a casino and give general advice only. Other than SirJohn, I recommend you to talk with Dewez who operates L0tt0.com, and he's also much knowledgeable about operating a casino.

[darkangel11]

1. What are the first things to put in place before starting?

Assemble a good team. You're not going to do it alone, especially with no prior experience.
What are you going to add to the team? Money? Coding? Testing? Advertising?
If you can't bring anything to the table, what makes you think you have a chance in this business?

How are you going to get the money if you don't have it yet?

[yahoo62278]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

As a former casino owner let me tell you that it is not as easy as some sites make it look.

1. I see people saying capital. Money is important, not only to be able to pay the players, but to also be able to properly advertise your product. That was 1 of my biggest issues. My site was connected with moneypot and relied on their bankroll and their frontpage for advertising and payouts. Payouts weren't an issue while my site was up, but advertising was weak.

2. Strengths and weaknesses IMO all come down to 1 thing, having a top dev. Having a great developer is what is going to keep your site running like clockwork. Having a bad dev or 1 that you cannot trust can be the downfall of your site.

3. You can and should. You can still be around to handle some things but let someone manage some aspects of the site for you.

4. It's only profitable if you put the work into it. Launching a site isn't an instant money printer so don't go thinking it is.

[Fivestar4everMVP]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Let me start with question number 4, running an online casino as a business is very lucrative and highly profitable, but don't expect the profit to start coming in immediately the casino is established, and this is because, you will still have to invest alot of money to bring the casino to stardom, a place where every gambler knows the casino and plays there just like stake is today, this is not an easy achievement but until you as a casino owner is able to grow the casino to this level, it can still be profitable but don't expect to play in the same league as the highly successful ones.

And to answer the number 1 question, this days, building a good website is pretty much very easy, but finding users for the site is where the major work lies.
So, for me, one thing to prioritize even before one decide to start a gambling casino is marketing, the place of marketing is way more important than building the casino itself for it makes no sense having a running good casino, where as it's just you and maybe, some of your friends and family that play there once in a while.

And number 3 of the question, I myself can sure manage a casino myself if I have some little experience in it, but then, I don't mind hiring someone else to do the job if I find a trusted party with a world class experience in casino management and so..

[|MINER|]

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

1. The first thing is to give the priority to accumulating enough fund for starting a business and start with specific side like starting with the sports or only the casino.

2. The strength of successful gambling  is there is a high revenue and the weakness is there are high numbers of competitor to compete with them there need a perfect marketing

3. Obviously there must need to hire a person for management of gambling platform I will say that not only one person there will be needed many people's for that.

4. I have no experience of running the casino or gambling site so I can't say anything from my experience but I can say yes it is profitable but for those people who have perfect ideas and also have the ability to perfect  excursion of the ideas.

[Cookdata]

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?

I want to give my general knowledge and not just the way casinos are operate on the forum. There are many of them outside this forum that are successful as well and the first thing you need to put in a place is have enough capital as reserve. Something happen here about a new casino that was launch, the casino gave alot of bonus which enabled players to played and the won amount couldn't be paid by the casino as they didn't have the money to pay the players, this is very important.

2. What are the strength and weakness to consider with gambling platform?

Your strength and weakness depend on how people win from your casino. If it's too hard, many of them will leave and if it's easy, your business will collapse. So keep the fire blazing moderate and don't make it hard and not too simple for gamblers to crack.

3. Can you hire a person to be in charge, for the business management of the gambling platform?

This is subjective, you think you don't have the time and the person is capable but how can you measure the person skills? Probably you have to manage the business first to get the experience before you allow another person to help you with the management so you can know where there is problems even when you are not around.

4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Gambling is a very lucrative business but before yours will be profitable, it's not an easy job. You will have to spend alot of money in Kol and partnership, work with other brands just to make reach for people to come play in your casino. Without marketing, your gambling business wouldn't go far.

[Casdinyard]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Having set my own business, I can pitch in a few things for you.

1. The first things you should put in place is capital, more importantly in your case, since you're a casino. There will always be winners, regardless of your house edge, so whatever capital you have in mind, double or triple it just to be sure.
2. The biggest strength that a casino has over a regular business is the inflow of customers. One thing is for sure in this venture, people will always be looking to either unwind, or to lose their money, and unlike restaurants, or whatever other business there is, the competition isn't as tight as you think it is, just set your site at a good location if you're shooting for a brick-and-mortar casino, or just launch it online with a license and marketing to boot, and you're good to go.
3. I'd highly suggest hiring someone capable to take most of the heavy lifting off your hands, you can't handle everything by yourself and not trusting anyone to do your business is just as deadly as being so gullible. Keep it at a sweet balance and you should be good.
4. Haven't been in the casino business yet, but from the looks of it, it's a thriving industry that you can try to penetrate.

[sunsilk]

To be honest, the best advice will still come from those who are in the real business of gambling or just someone who has an actual business. And an exception is someone who has gambled all of his life or at least gambled with different casinos that has noticed a lot of differences from each of them.

While these questions can be good pick for those who are planning to establish one and might accidentally fall on this thread, I'll answer only this one because it seems a general question for a business.

3. Can you hire a person to be in charge, for the business management of the gambling platform?

Yes, you can hire someone to be in charge of every operation of the casino but I don't think it's a wise idea if you're starting out. First of all, a startup needs to be handled by its owner and be focus on it until the system is already working on with or without his supervision.

And when that time happens, that's the right moment to pass it on for the manager or supervisor that the owner will hire.

[AmoreJaz]

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3. Can you hire a person to be in charge, for the business management of the gambling platform?

Yes, you can hire someone to be in charge of every operation of the casino but I don't think it's a wise idea if you're starting out. First of all, a startup needs to be handled by its owner and be focus on it until the system is already working on with or without his supervision.

And when that time happens, that's the right moment to pass it on for the manager or supervisor that the owner will hire.

It is always best to handle your own business especially if you are just starting out. At least, know the ins and outs. You can hire someone later on once you established the operations of your business. But as a beginner, you will just screw up your own business if you let others manage it.

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

[1] First and foremost, ask yourself, are you ready to manage a gambling business? Do you have at least the basic idea what this business is all about? Prepare yourself at least emotionally and financially,  before you even begin to buy your domain name.
[2] The major considerations when it comes to gambling is bankroll and know-how. So if you have both, other factors can follow thru
[3] If you are just starting, better do it on your own. You can let go of micro managing of the company when you already establish its operations as I mentioned above
[4] Gambling is very profitable if you know how to handle it. After all, you have the house edge over the players.