Thinking of starting a crypto gambling site, worth it or not?

Just thinking of creating my own crypto gambling site.

I've read a few forums on here about them and was just wondering if you would consider it worth the time/work with all the competition in the market.

If not, what would you suggest instead?

If you have the capital to promote it, it's worth it.

If you don't have the capital for promotion, then you gotta try your best to make your website known for example through YouTube videos, SEO etc. and it could still be worth it.

I've seen so many people who are perfect developers/programmers etc. but they are completely clueless when it comes to promotion, and eventually their projects die out.

All you need to do is to have a clear plan from the very beginning how you're going to do everything, from creating your gambling site to promoting it. Then you'll succeed.

we all have our own success story and I believe this is yours since you have the idea and resources. Go for it!

Gambling sites have way to more comp , hence the problem is that it needs some good capital !

If you do it right, put in the time and have the funds to start this up, then it is definitely worth it.
If you try to start on a low budget with no operation funds available and do not have any idea about how to drive traffic and the cost of this, then my advice would be to not do it.

Remember in Casinos people do actually win, and the $100k deposits might leave 25k-30k as net deposit, then you have to deduct all the costs like Platform, Server, salary, game provider fees, affiliate commission, bonuses etc etc

it could be a great idea but you will need a massive budget! probably more than 150k$!

The most competitive and the most potentially lucrative businesses. A popular crypto gambling site can make billions of dollars.

However, if you have to ask if it is worth it, I genuinely don't believe you will be successful. It's just a really weird question to ask.

You should have millions of dollars (USD) available to venture into this area.

SocialManager said:

The most competitive and the most potentially lucrative businesses. A popular crypto gambling site can make billions of dollars.

However, if you have to ask if it is worth it, I genuinely don't believe you will be successful. It's just a really weird question to ask.

You should have millions of dollars (USD) available to venture into this area.

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but what if he launch a token based on his project! then with value (that will probably become a millions dollars after a succesful token launch) he will keep promoting and spending money on his project?

jaroule said:

but what if he launch a token based on his project! then with value (that will probably become a millions dollars after a succesful token launch) he will keep promoting and spending money on his project?

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Most people launching a casino with their own token just crash and burn. It's way more difficult to do this than to just make a casino that accepts Bitcoin and Ethereum. You want to attract rich crypto whales, and these guys just play with ETH and BTC. You can raise millions and grow support that way, but it is very small compared to the casinos that accept just BTC and ETH.

I believe everyone stands a chance. A great website with a crypto script is not hard or expensive. If SEO is done right there are clicks that will fall your way. I will be launching one someday and I need to be ready.

I think this marked is already saturated.

SocialManager said:

The most competitive and the most potentially lucrative businesses. A popular crypto gambling site can make billions of dollars.

However, if you have to ask if it is worth it, I genuinely don't believe you will be successful. It's just a really weird question to ask.

You should have millions of dollars (USD) available to venture into this area.

Click to expand...

I agree, most guys commenting here seem to be very naïve. Solely the amount of paperwork will make 95% of people quit the first week. And the reality is, if you're asking about it on this forum, you definitely don't have the capital or the idea of how much work it takes to get it off the ground.

I think you're on the right track because as Warren Buffett says:

"Be greedy when everybody is fearful, and be fearful when everybody is greedy."

Right now, crypto is going down the toilet and people are just so freaked out of their minds.

People are so scared that this is actually a golden opportunity.

Now when it comes to crypto gambling, you have to make sure that you have the legal issues out of the way correctly.

The great thing about crypto is that it's fairly easy to hide your identity.

You only need to look at the people behind Shiba Inu to know what I'm talking about.

But at the same time, you have to understand that people are looking for some level of transparency if they are going to flat-out gamble on your site.

It's one thing to disguise a gambling site in the form of a decentralized finance platform.

But if you just going to be upfront and say, "Well, this is a gambling site," then you need some level of transparency.

Obviously, people are not going to get their money back if they feel they got cheated.

Do you see the tightrope that you have to walk?

I would suggest that you look at other crypto gambling sites.

Pay attention to their terms and conditions, and see how your concept would pan out in the content of the legal and transparency issues.

Here's my take on this. The crypto gambling market is actually not saturated, as some people here claimed. However it's not a gold mine either.

Why? Because you have 2 big problems:
1. Convince people that gambling is fair and they can win and blah-blah. This is a problem for all casinos, you have to bring in new suckers every day.
2. Convince them to use crypto for that. Crypto is already seen as shady business, so it narrows quite a lot the field of suckers available.


If you have to question yourself if opening a crypto casino is a good idea, then I'd say "Don't".
But that doesn't mean you shouldn't try. Try first to promote an existing crypto casino as affiliate though. See what you can do with that. Sure, the rewards will be diminished, but will be enough to at least cover the expenses and.. you will validate the idea.
If that works, the rest should be easy with enough money. Casino software requires money, starting capital for gameplay, promotion money..it can add up to $150k, maybe $200k. If you chose to enter a network (white label site, but not your players), the cost may be significantly reduced.
Someone mentioned the legal side. IMO this problem can't be completely solved. Crypto gambling operations in (sufficiently) developed countries are either not possible or extremely hard to start, because of regulations.
The other way to do it is off-shore. You can start a company in .. Antigua (or whatever paradise) and focus on privacy, yours and your money. This requires your presence in that country to start the business and a trustable middleman (a local) to keep things running.
Finally, even if everything is up and running, you should aim for long term gains and constantly fine tune. Setting the software for smaller gains on your side may keep the players hooked, but won't be profitable. Setting it for higher gains is profitable but will require efforts to keep the players in. Bonuses and promotions have to be carefully calculated to keep a balance.
Withdrawals on BTC network (which is a must) come with a fee, which is not that small. If you pay the fee for every small player that withdraws every $50 won, you may lose money. If you set thresholds, you may lose small players. If you make the player pay the fee, you may lose even more players.

I barely scratched the surface with this post. The main idea is to try and promote some casinos as afiliate, then decide if it's worth running your own.

Good luck either way!

Everything has own potential and depends on Your involvement. I see lot of stuff here on BHW about casino so if You have budget why not try ? Good luck

Roadblock said:

If you have the capital to promote it, it's worth it.

If you don't have the capital for promotion, then you gotta try your best to make your website known for example through YouTube videos, SEO etc. and it could still be worth it.

I've seen so many people who are perfect developers/programmers etc. but they are completely clueless when it comes to promotion, and eventually their projects die out.

All you need to do is to have a clear plan from the very beginning how you're going to do everything, from creating your gambling site to promoting it. Then you'll succeed.

Click to expand...

Do you have a blueprint or somehwere you can point me to so I can see this step by step ?

SocialManager said:

The most competitive and the most potentially lucrative businesses. A popular crypto gambling site can make billions of dollars.

However, if you have to ask if it is worth it, I genuinely don't believe you will be successful. It's just a really weird question to ask.

You should have millions of dollars (USD) available to venture into this area.

Click to expand...

Can you point me in right direction ?

Gambling is never over-saturated if you know where to find players.

Chipicao said:

Gambling is never over-saturated if you know where to find players.

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Finding gamblers isn't the issue, getting them to deposit is. If you know where the players are, every other gambling site probably does too.

Gambling is always was and always be the most profitable niche - but before you taking action you sure you have the budge for this?
You need HUGE budget to make a successful site.