Hey everyone, have a quick question: how much bitcoin do I need to start a bitcoin casino? Gonna buy a turnkey bitcoin casino soon which will be about a grand, but about how much bitcoin do I need to reliably be able to pay off winners, at least in the beginning? I know the number varies, but ballpark.
If you're referring to just paying the winners you'd need at least 5 BTC in order to catch anyone's attention, especially those who bet big.
The answer depends on the limits you set for players (lower limits -> lower amount), so worldofcoins is right saying that if you want to be able to attract people who like higher limits, you will need more money. I personally think 5BTC may be an adequate amount. You should calculate the amount taking into consideration that long losings streaks
will happen for sure.
As an example, you may want to use a method similar to Monte Carlo simulations to calculate the amount of BTC that will make you withstand first say 1000 bets with 99.9% with preset limits.