First and foremost, all you need to do is to learn and understand how a bitcoin casino [or online gambling ] is operated and organized; you also have to be knowledgeable on the procedures that needs to be taken to finally start a bitcoin casino.
When you start a bitcoin casino, the steps itself are way different from starting a traditional casino. Having said that, bigbook.ag lists all the differences that are linked to the integration of the said platform, this is necessary for conducting bitcoin’s financial transactions.
Using bitcoin as a currency and accepting BTC deposits means that your online business (or gambling website) can run even without a casino license which will cost you a minimum of $25,000. Since you will not be running real gambling activities (because there will be no real currency nor goods to be transacted in a bitcoin casino) a casino license is not required. The law governing gambling rules only cover banks, cash and credit/debit card processors so you do not have to worry about violating any government laws in any parts of the world; plus, it does not meet the definition of a normal [local] currency in any of the current laws across the globe.
With that being said, bitcoins are just the same as gold or linden dollars in the world of warcraft, or any other thing that has a virtual value. The value of BTCs is not regulated by any bank or by any authority, the entire network influences the price of this cryptocurrency.
What do I need to start a bitcoin casino?
There are several basic steps that every amateur bitcoin casino owner must possess. Of course during practice, it is essential to be able to find solutions to issues that may take place when you start a bitcoin casino.
Before we proceed on the things needed when you plan to start a bitcoin casino, bigbook.ag would like to note that this article only provides a general idea of the entire process. Further details and special features should and must be expected during the process and it will only be learned by experience.
With that being said, enlisted below are the things you need when you plan to start a bitcoin casino.
Business plan
When you want to start a bitcoin casino or any business in particular, you have to have a business plan. When writing a business plan, you should ask yourself such questions as “what ambitions do you aspire to achieve?”
“Which region would you like your bitcoin casino to target?” “What content will become your main focus?” “What is the philosophy you have in mind about this particular project?” This and many other questions need to have an answer in your business plan. – https://www.quora.com/What-would-I-need-to-do-to-start-an-online-Bitcoin-casino
Before you proceed on the next step, the task must be clearly outlined. Your goals must always be kept in mind to help you in your decision – makings with the current affairs when you start a bitcoin casino. You should also anticipate with the possible risks that may come your way for you to be ready for future problems. After all, a good business plan is a stepping stone to successfully start a bitcoin casino.
Gambling license
When you start a bitcoin casino, having a gambling license is still a questionable matter up to this day. This is because bitcoins have not been recognized as a certified monetary unit, so playing with BTCs cannot be considered as gambling in a legal perspective.
But during practice, things are different. Leading companies that provides software operators [always] ensure that the businessman they are dealing with is being honest. Because of this, you are required to register for a legal entity just to get a gambling license. This will fully legalize the work of your bitcoin casino.
High quality gambling software
When you plan to start a bitcoin casino, you definitely must have a high quality gambling software that is fully functional and has everything you necessarily need.
With that being said, choose and use gambling software that has modules to guarantee the security of your bitcoin casino, track/record unusual customer transactions, monitor statistics and analytics.
It is also important to consider the front-end and back-end interfaces are easy-on-the-eye. Having said that, a good back-end interface is of big help for the moderator/s and administrator/s while a convenient front – end will contribute to the success of your bitcoin casino.
Take note that users nowadays just do not look for popular games to play, they also look for a convenient and easy – to – navigate interface.
Secure payment processor and gateway
Variety of games
When you start a bitcoin casino, prepare a variety of multifunctional games in your platform. Because having different genres that targets different types of audience is key to a successful gambling business.
Nowadays, providing slot machines is not enough; the modern gambler is always looking for a variety of games to spend his leisure time.
In order for gambler/players to be interested in visiting your bitcoin casino over and over again, you must prepare for them a variety of games that is suited for all types of personalities.
To ensure that your customers will stay in your bitcoin casino, make sure that you will have everything they need.
Games such as tables and cards, live casino, live wager, lottery, bookmaker office
Team of virtual employees
The more gamers you have, the more your bitcoin casino will need a team of virtual employees (technical support to be specific). So before you start a bitcoin casino, be sure to have connections and the right people to include in your team.
Advantages and disadvantages when you start a bitcoin casino
To each their own, every business venture has its advantages and disadvantages. Just like when you start a bitcoin casino, ups and downs, trials and errors will go along your way. You will reap bountiful of benefits and burdens at the same time (but that is just a part of the journey).
With that being said, here are the advantages and disadvantages when you start a bitcoin casino (that you need to take note of).
- No gambling license required.
- No governing law of any country will stick on this kind of business because this type of operation is not illegal. As mentioned, bitcoin is a cryptocurrency, no real money is involved.
- When you start a bitcoin casino, there is no need for you to deal with credit card cashbacks, this is because BTC transactions are non – refundable.
- Fast growing marketing because of the low competition among crypto – powered casinos.
- Bitcoin offers privacy to its users for every transaction made. Therefore, nobody can ever track if a payment has been done.
- Bitcoin is a cryptocurrency with a value that becomes better [and better overtime] via the exchange market.
- Some countries (including USA) do not allow online gambling especially bitcoin casinos.
- Bitcoin is not subjected to taxation in any country across the globe. This means that if you received bitcoins there is no need for you to pay for any corporate and income taxes. So if you want to spend your BTCs on goods and services online, you will save yourself a lot of money.
- Lastly when you start a bitcoin casino, take note that this type of business lacks popularity. After all, only a few people know about this cryptocurrency.
Visit bigbook.ag to learn more about everything you need to know when you start a bitcoin casino.
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