Hey all!
I am an avid student of business, and a long-time bitcoin holder. One thing I have noticed on this forum and in the bitcoin community more broadly is the presence of many "Bitcoin Casinos." (I'm including all crypto here; not just bitcoin.) Many, though not all, seem to be provably fair.
I'm curious to know -- how good of a business are these casinos? I'd really love to hear from folks who have actually run or experimented with such sites!
Here are some initial thoughts and questions that strike me:
* It seems that there are a number of these businesses; how does one get a competitive advantage over others?
* It seems like switching costs for the user are pretty low. Combining this with the above makes me wonder how challenging they are together.
* Are there network effects with these businesses? In other words, does it matter how many other people are playing at the casino I am playing at? (If I'm playing against the house.)
* At what volume does it actually make sense to run one of these? (I'm sure this is a context-dependent answer - would love to hear perspectives!)
* I see a number of scripts available for sale. Does anyone in the business actual buy these, or do people just do their own custom development?
Thanks in advance for insights and opinions!
Well, one thing I am certain of is that as long as you are able to feed your target market with what they want in your business which in this sense, crypto casino, then I am sure you will make the best from the investment.
I am also certain that a lot of money is being made for those crypto casinos that are doing it right by the day and have been able to make name for themselves, which is something you must be ready to come up with something very unique to be able to challenge that competitive space at the moment, and buying a script would not do that for you.