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Author Topic: Gambling Site Life Span  (Read 2098 times)
Dondie
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October 14, 2014, 10:59:23 AM
 #1

I am planning to make a bitcoin betting site.

But one question (for old timers and knowledgeable people)

How long does a bitcoin site operate until it close down?

Give example of the site and its life span. Smiley

Thanks!

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m19
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October 14, 2014, 11:23:05 AM
 #2

There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.
Dondie
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October 14, 2014, 11:27:40 AM
 #3

There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.

Who will regulate these bitcoin betting sites? What if I operate my site not from the states but from something like Panama or Cuba..

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October 14, 2014, 11:29:37 AM
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There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.

Who will regulate these bitcoin betting sites? What if I operate my site not from the states but from something like Panama or Cuba..

That's a good point. There is no real way that people can regulate a Gambling site from those countries. But how many customers are you going to get compared to a regulated gambling site from the US? Most people would rather visit those sites and get peace of mind IMHO
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October 14, 2014, 12:11:55 PM
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There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.

Who will regulate these bitcoin betting sites? What if I operate my site not from the states but from something like Panama or Cuba..

That depends on the country you are offering your services. For example you can get regulated in Curaçao or Malta but that doesn't mean you can offer gambling in the Netherlands (not yet anyway) or any other country. Just this week or last week two sites got huge fines (6xx.xxx€) for offering gambling to Dutch people, even though they were regulated in another country.
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October 15, 2014, 03:48:48 AM
 #6

There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.

Who will regulate these bitcoin betting sites? What if I operate my site not from the states but from something like Panama or Cuba..

That's a good point. There is no real way that people can regulate a Gambling site from those countries. But how many customers are you going to get compared to a regulated gambling site from the US? Most people would rather visit those sites and get peace of mind IMHO

In fact, quite a number of gambling sites were/are working anonymously (like those run away scamming its users) and still a lot of people were/are happy to play on them...

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October 15, 2014, 11:10:15 AM
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What about Satoshi Dice? What happen to them? Dooglus owned that one right?

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October 15, 2014, 01:02:44 PM
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I guess if you guard against fraud and theft, you should do okay.
Most gambling sites close down after somebody scams the owners/ investors.
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October 15, 2014, 01:48:44 PM
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What about Satoshi Dice? What happen to them? Dooglus owned that one right?

Voorhees owned that one, sold for a bunch of money to a rich gambling mogul. New owner redesigned the whole thing and introduced retarded shenanigans such as "spirit mood", new design also brought major outages and hickups, site went downhill from there.

If you mean just-dice, invested amounts were getting kind of ridiculous to carry responsibility for as a lone developer, definitely when regulation is heating up in Canada, so he closed it down gracefully.

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October 15, 2014, 01:52:03 PM
 #10

There is not written rule that says how long a gambling site can stay open.

A lot of Bitcoin gambling sites operate in a bit of a grey area right now, expect a lot of them to close down when regulations are here.

Who will regulate these bitcoin betting sites? What if I operate my site not from the states but from something like Panama or Cuba..

I would be interested to see what would happen if more sites did get registered in panama or other places... I don't believe there is a requirement in any location for a Bitcoin gambling license yet?
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October 15, 2014, 01:56:13 PM
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What about Satoshi Dice? What happen to them? Dooglus owned that one right?

Voorhees owned that one, sold for a bunch of money to a rich gambling mogul. New owner redesigned the whole thing and introduced retarded shenanigans such as "spirit mood", new design also brought major outages and hickups, site went downhill from there.

If you mean just-dice, invested amounts were getting kind of ridiculous to carry responsibility for as a lone developer, definitely when regulation is heating up in Canada, so he closed it down gracefully.

Hi Addi, I don't know if you can answer this but what does SatoshiBet do with regards to being incorporated or having a Bitcoin gambling license?

Are you worried about regulation getting in the Bitcoin gambling scene?

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October 15, 2014, 01:56:47 PM
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What about Satoshi Dice? What happen to them? Dooglus owned that one right?

Did you mean JD?
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October 15, 2014, 02:14:46 PM
 #13

slot machine gambling
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October 15, 2014, 04:02:12 PM
 #14

I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).


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October 17, 2014, 01:29:10 AM
 #15

I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).



How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?
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October 18, 2014, 05:22:32 PM
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Run it nicely and honestly, and it will last a lifetime.
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October 18, 2014, 05:42:23 PM
 #17

I am planning to make a bitcoin betting site.
...

You'd need a serious marketing funds. The competition is pretty tough and people don't trust the new sites. You'll have to earn the trust, and will have to offer some incentives to attract the players. You may be running at loss for the first few months/year.

As for life span - if you get everything right from the start, prove you're trustworthy etc you can last for decades (unless bitcoin dies).



How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?

I have no idea on that, but you can get some idea from how much other gambling sites are spending on signature campaign.
Example 1 LB: 20x 0.1 btc slots + 20x 0.05 btc slots = 3 btc a month
Example 2 BitDice: The owner said his budget for the first month is ~2.5BTC
Example 3 Pocket Dice: 50 slots, 0.001+ BTC per post (depending on member rank), max 25 posts per week

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October 18, 2014, 05:50:55 PM
 #18


How big do you think is that marketing funds? $5k, $10k? If that is not enough, what is enough?

Probably you'd want to start with a signature campaign on this forum.
The standard rate is about 0.1 BTC /month (for senior member), but to attract enough participants you'd need 0.12 BTC.
To be effective, you'd need to recruit around 50 people.

Thats:

50 * 0.12 = 6 BTC, which at current rate ($390) gives $2,340 for the first month, just for the sig campaign.

On top of that, you'd probably need some advertising outside this forum and some sort of promotions/bonuses/on-site giveaways to give people an incentive to switch to your site.

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October 19, 2014, 01:37:06 AM
 #19

When did Primedice started?

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October 19, 2014, 03:30:58 AM
 #20

gambling sites usually last bout 350




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