BitDice Casino Interview Featured image with logo

BitDice Casino

Averages $236k/month

Launched in 2014

Crowdfunded

Updated Jul/17

BitDice Casino is a well-established and profitably operating cryptocurrency casino that is currently seeking capital contributions from the public via an ICO. It plans to transform itself into a new-generation platform for online gaming experience combining both fiat and crypto.

BitDice Casino Key ICO Details:

  • CSNO token – The token creation process will be organized around the smart contract running on Ethereum blockchain using ERC223 standard.
  • Total supply only 100,000,000 (one hundred million) tokens will be issued.
  • Price per token to be determined based on the capital raised.
  • Payouts 70% of BitDice Casino profits will be distributed in ETH to all holders of CSNO each quarter, pro-rata the share of tokens owned.
  • Dates from August 15, 2017 until September 15, 2017.
  • Minimum goal of $10,000,000 USD equivalent.

How big is the team at BitDice and what does everyone do?

Our team is still being shaped. At the moment we have a couple of top-notch developers taking care of the back-end and the front-end part of the project. They also facilitate us with the ICO preparations.  In addition, we cooperate with a team of lawyers who is helping us with all legal matters related to the ICO and gambling regulations in general. We have conducted a set of preliminary negotiations with an outsourced marketing team specializing in our industry, they are ready to go once we are clear with all the prerequisites.

BitDice have a mix of games you created yourselves and off the shelf games. Why did you go for this model? What model is the most profitable and what is the biggest headache?

BitDice is a strong proponent of “provably fair” games and runs a few of its own – dice and blackjack. There are a number of integrated slots games from the third-party providers, which we have carefully selected. They are not “provably fair” according to our definition of fairness and run at a slightly higher house edge. BitDice understands the importance of wider game content, and in our pipeline, there are many new games we want to develop ourselves.

What were the last 6 months of profit for BitDice?

The last 6 months of profit in terms of Bitcoin profit are plotted below. As a crowdfunded bankroll the information is always available for the public.

What is the biggest issue you have faced over the years?

We have not faced any particularly serious issue that could jeopardize BitDice’s existence. But we do have to deal with various minor operational issues on a daily basis, mostly related to customer support issues.

You have made great returns for investors in your bankroll, but your ICO growth expectations seem even bigger. Why do you think you can deliver a much bigger ROI after the ICO launches?

We have very ambitious plans going after a brand new market, which is 20 times bigger than what we have at the moment. This is a very challenging step, but at the same time very compelling. Targeting fiat-gamblers along with crypto-gamplers will boost and diversify our revenue stream big time. Higher ROI will be possible to achieve by properly structuring our company, which excludes any loopholes for diluting company’s equity in the future. Currently, bankroll investments do not address that issue, and people get diluted by newcomers. With the new model, there are pretty good chances to make our investors even more happy.

In the ICO prospectus you mention that you want to bridge the gap of total online gambling market (where crypto is just 5%), how are you going to do that?

We want to apply for a gambling license and get regulated in order to be able to receive cash as deposits. Enhancing the payment methods and attracting non-crypto gamblers is the core of our new strategy. As we extensively argued in our marketing campaign and in the ICO prospectus, fiat gamblers are the gem. They are not spoiled with ultra-low house edges, and they are yet to find out what the real “provably fair” games are. This is the market of bigger size and thicker margins, and we want to be part of it.

Just to confirm investors do not own any equity in BitDice.me? No voting rights in the event of a sale etc?

BitDice Casino attempts to make all token holders as close to the meaning of equity holders as possible, even though they would lack control over the company.  We have expressed our public commitment to preserve the payout structure in case of a company sale. Furthermore, we explained that in case of disposing of Owners equity, the existing token holders will receive preemptive rights to purchase the tokens. In other words, the governance will remain in the hands of the Owner, but it will be run in the best interest of the token holders, where Owners are in fact part of it.

Why do an ICO now and not go on with the same model?

BitDice has published a few blog articles, where one of it was particularly addressing this topic. A long story short – BitDice Casino is significantly constrained in business development under the current investment model and therefore offers a new model that has good chances to materially improve our standing among crypto competitors, and probably more.

Why should an investor consider investing in BitDice.me over BetKing or a conventional bankroll investment?

We have no intention in making a comparison with BetKing – as far as we know they have pursued another investment agenda.  Strong points to be a token holder rather than bankroll investor:

  • Avoid further dilution of investors stake and lock up equity value
  • Improve management of in-house bankroll in multiple crypto currencies
  • Increase IT staff with goal of improving game technology (smart-contracts)
  • Expand into the lucrative online USD market (enhance payment methods)
  • Improve communications with token holders
  • Increase company marketing exposure through feedback loop and secondary markets
  • Distribute 70 percent of company profit to token holders

Where do you see Bitdice in 5 years?

Hopefully, by that time BitDice Casino will be recognized as a quality entertainment platform not just in the crypto world, but in the whole gambling industry. We want to bring in innovation and participate in convergence of fiat-gambling community with a crypto-gambling community. We believe the fusion of these two worlds provides great opportunities.

Have you had any conversations with any exchanges about getting the coin listed?

We have started communication with exchanges and keep our prospective investors updated on that.

Where can people go to learn more about the ICO?

The prospectus can be downloaded at https://ico.bitdice.me/prospectus_en.pdf

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