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Re: Royse777, Bitlucy and long story in brief
by
NotATether
on 27/06/2022, 06:30:51 UTC
⭐ Merited by Poker Player (1)
You probably already know this by now, from this experience, but to everyone else, I will tell you from my own experience, Do Not Attempt To Launch A Casino By Yourself!

Casinos must be ran similar to proper companies. Contrary to popular thinking, casinos have thin margins of profit, because their entire revenue depends on people losing the games in the long run!

So, if enough users do not use the site, or the crypto prices suddenly crash (it can be mitigated somewhat by converting the cold wallet storage to USDT, or USD in a bank, but the hot wallet must always be replenished at all times), you will run out of cash to pay users.

Also, crypto casinos in particular get abused by multi-accounters with no mercy, so if you cannot afford sophisticated, state-of-the-art blockchain fraud detection then you will be robbed by your own users.

In summary, if any of the below are not true:
1) You have incorporated the casino to avoid personal liability of debt payments
2) You have institutional lenders willing to loan your casino money (wealthy individuals do not count)
3) You have already installed blockchain fraud and DDoS/malware protection for your backend
4) You have enough reserves in hand to pay your staff and the hot wallet for at least 6 months in case of an emergency

Then DO NOT LAUNCH A CASINO for your own sanity' sake.