Bitcoin Casinos are the online casinos that have revolutionized the regular gambling industry or rather have taken over the online gambling business. These casinos offer its players numerous cryptocurrency and virtual games. Bitcoin casinos are powered by renowned software providers. It has video slots, video poker, table games, and more interesting games to add to your playing list.
The casino uses a random number generator that contributes to a fair gaming and transaction environment. The combined effect of blockchain technology lessens the chances of identity fraud due to transparent public ledger features.
Apart from the desktop version, it also provides a mobile version and a tablet version.
The deposit and withdrawal process is simple both for its visitors and operators. You have total control of your funds and can withdraw your Bitcoins into real money. There are amazing welcome bonuses and rewards for its players. It provides great customer care service live chat, phone chat opportunities.
Bitcoin’s advantages for a gambling business
Bitcoin has marked its presence as the most popular cryptocurrency since its inception. The advantages of Bitcoin and its magical benefits led to the creation of Bitcoin casinos.
You can choose among the best Bitcoin casinos with exclusive Bitcoin payments or Bitcoin as an alternate cryptocurrency payment method. To play table games like Blackjack, Poker or Bingo you need to put your money on the table. Similarly, with Bitcoins, you deposit your funds with the casino.
The advantages of Bitcoin for a gambling business are varied in number. Let’s dive into the key points.
Bitcoin is free of boundaries: No nation has control over Bitcoin. This gives its users added benefits of low transactional cost, tax reliefs (unlike the fiat money withdrawals that cut a percentage for every transaction), and a healthy environment and fast transactions because of no third-party authority.
Bitcoin prevents fraud and identity theft: Transactions with your fiat currencies via your credit card or debit card, you need to provide your credentials like the card number, the expiration date, and your social security code. However, entering your personal details on a website can be concerning.
Another example is where the traditional casinos ask for your personal details to go through a KYC process for withdrawing your winnings. According to Bitcoin news, Depositing or withdrawing your funds with Bitcoin makes it less cumbersome, it only requires your Bitcoin wallet address.
How to launch a Bitcoin casino business start-up
Starting up your own Bitcoin casino is no different from starting an online business. Bitcoin casino operators need to customize their system to accept Bitcoin. Both the parties, the player and the operator must have a Bitcoin wallet to be able to send or receive Bitcoins.
- Analyze the market and make a business plan: Do some good research on the current market scenario and formulate your business plan accordingly. The next step would be to plan your budget and investment limits. The plan should include your initial and professional costs.
- Register your casino: After you have prepared a plan, the next thing you need to do is register your casino. Choose a location where there are tax benefits and low registration costs.
- Obtain a license: Bitcoin casinos, although enjoyed worldwide, are still restricted in some countries. You need to check the terms and conditions of the particular jurisdiction where you can start your business. You should seek advice from a professional legal advisor with good experience in this industry.
- Website development and choosing the software: Contact an experienced website developer to build your site and choose the best software providers who provide a wide range of top-notch Bitcoin gaming content. You can either purchase the software or take it on lease.
- Launch a website: Check out what your competitors are offering its players and accordingly plan a better offer for your customers.
- Promote your casino: A successful business plan requires a great marketing strategy to achieve the desired success. Advertising and promoting your casino’s enticing offers in popular marketing platforms can be truly rewarding.
Build your own Bitcoin casino
Entrepreneurs have all the responsibilities on themselves, from starting to contact the potential software partners to marketing activities post-launch.
You also have the option of purchasing a white-label Bitcoin casino that has the software included but without any brand name. This is very helpful for the entrepreneur as it saves a lot of time and he can kick start his gambling business without any hassles.
Any new startup requires a lot of dedication and hard work. You can run a successful business if you have a pragmatic approach and follow the appropriate steps that we have discussed above.