How to open a bitcoin casino: Top 4 ways to create your own cryptocurrency business
The popularity of cryptocurrencies grows with each day. The news about using the digital money for different goals like purchasing businesses or real estate already seem pretty usual. This is the reason why it is no surprise that representatives of the gaming business have begun to implement the most popular cryptocurrency, the bitcoin, into their establishments. This is how bitcoin casinos have been born.
A little bit of theory
A bitcoin casino is a gambling club that uses the BTC as the exclusive or an extra payment method. This is the main difference between bitcoin casinos and common establishments receiving only real money.
For a bitcoin casino to work, both sides (a visitor and an operator) should have special wallets to conduct all financial transactions. Also, it requires integrating systems to support transactions with cryptocurrencies. This is the essential work to be done by an operator to start a bitcoin casino.
The bitcoin’s advantages for a gambling business:
- anonymity - gamblers and operators need only the numbers of their cryptocurrency wallets;
- no additional payments – the third party (a bank) does not participate in making transactions; so there are no extra fees.
- efficiency - if a common bank payment may last for several days, a BTC transaction is concluded in a couple of minutes;
- protection - it is extremely hard to make any machinations with bitcoins. The technology simply excludes it.
The nature of the BTC is such that it makes the cryptocurrency a perfect option for almost all industries including gambling.
How to create your own bitcoin gambling site?
First and foremost, one question has to be answered: how much money is needed to start a bitcoin casino ? It is obvious that you cannot begin a business without a starting capital. The total sum of your expenses depends on how exactly are you going to do it: using a script or a turnkey option imply totally different amounts of money.
Later, we will tell about the essential ways of opening a gambling establishment, their pros and cons, for you to choose the one that fits you the most and calculate the budget.
How to launch a bitcoin casino business start-up:
1. Doing it independently. An entrepreneur completes all the numerous activities by himself, contacts potential partners, and concludes contracts. All the preparatory work and post-launch activities lie on his shoulders.
The stages of the independent opening of a bitcoin casino do not differ from starting a classical establishment:
- Analysing the market and composing a business plan.
- Registering all the documents.
- Obtaining a license.
- Ordering a site development.
- Purchasing bitcoin casino software
- Selecting slot machines and making contacts with the providers.
- Launching a website.
- Promoting the casino.
The advantages of this option are speed and low costs. With some luck, you will find a high-quality code. The disadvantages are the following: most likely, such code will need to be completed, which takes the programmer’s time; and time equals money. This is why the cost of such script is far not all the investments needed.
3. A White Label bitcoin casino for sale. Everything works by the usual scheme: a businessman acquires a finished establishment without any identity and brands it with a proprietary visual content.
Why is it profitable? If a software provider is trustworthy, an operator will get a high-quality product with all the necessary components: a license, payment systems, games, etc. All that remains is to elaborate a brand and a design.
There are disadvantages as well: the buyer depends on the seller because: a) his casino is included in the vendor’s license;
b) the owner is obliged to use only the software integrated into the platform;
c) he has to pay the monthly fee.
4. A turnkey casino website for sale. This is the less tiresome solution when the customer pays for a fully finished product with the documents, the site, games, etc. The option will suit the ones who want to start a business in no time.
The vital point is choosing a proper reliable contractor. It is him that is responsible for the quality of the product you will get and how quickly it is done. Bitcoin casinos for sale are on the rise, yet there are chances of finding a dishonest partner. Study the customers’ feedback, find all the possible information on the Internet and ask questions that interest you.
Build your own bitcoin casino with 2WinPower
You may also address the 2WinPower company which has been providing services for the gambling industry for many years and has been among the first ones to create cryptocurrency platforms. If you do that, the question “How to start a bitcoin casino?” will not be actual for you anymore.
The online casino software developers from 2WinPower will create a new bitcoin gambling club, and help you choose software from the best providers to buy or rent. In addition, you may order a product’s demo version if you are not ready to purchase a turnkey casino yet. You can be sure that 2WinPower will guarantee the software with which you will achieve your business goals.