I've been asked to write a gambling website using bitcoins. The gambling part is easy but I found out about bitcoins only yesterday. I've been following the links and reading but I'm buried in technical jargon; like block chain, wallets, mining etc.

I just want to know the following things.

  1. What does the website need to hold bitcoins?
  2. What does the website need to request funds from player?
  3. How to transfer funds from player to website?
  4. What does the website need to give out funds to player?
  5. How to transfer funds from website to player?

I'd like to know the answers to be as specific as possible, even code level. Oh, a requirement is not need to open an account on my website or using any payment gateway.

Thank you all in advance. Moe

  • 1
    Your question boils down to "please write me a guide how to set up a bitcoin driven webshop or even write it for me". This is a request that can not be easily answered in the stackexchange format. You might want to split it to several narrower questions or instead ask whether somebody knows of such a tutorial. – Murch Sep 1 '13 at 14:57

A payment gateway may have restrictions on the type of business category, and online gambling may be a category they don't support.

The process is pretty simply.

Supply a new address for each deposit. When a payment arrives to that deposit address the customer account is credited.

A payment is considered final, generally, once it has six confirmations. That may be a long time for a customer (an hour, or longer even) -- some sites use one, or three confirmations but then have withdrawal restrictions so that newly deposited funds are not withdrawn until the original deposited funds have six confirmations.

But this business deals with money. Any business that deals with money, whether dollars, euro, gold, or bitcoin, should not be operated without giving appropriate attention to the factors that require attention. With Bitcoin being a non-reversable payments system, IT Security becomes among the most important areas of the business.

Learning how to construct a payment transaction (sendtoaddress using bitconid) or receiving a payment (poll bitcoind using listtransactions, or -walletnotify) should be your last concern at this point. Figuring out how to manage a wallet, using a cold wallet and hot wallet, for example, and making sure you have backups, etc., are a higher priority.

This experience might be something you hire out for rather than solicit from a Q&A site.

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