How to start your own sports betting site?

I would not suggest to start a betting business unless you know someone that knows the industry and the rules pretty well

Well, to start you'll need a few million dollars in cash on hand. The only way to attract new players to a sports book is to offer ridiculous, "you'd be stupid not to play here," bonuses. Such as, deposit $100 and receive $200 in free play money!

As far as advertising, you don't need anything different than any other website/business. You should check with a lawyer but you'll have to register/host your business overseas. You'll notice Bookmaker is registered in .eu. And sportsbetting is registered in .ag.

Assuming you're going to follow the trend set by bookmaker, 5dimes, sportsbetting, etc., you can find a decent script that will compare and use the average lines for these sites for less than 5k. I assume you're not going to hire your own lines makers, especially not right away.

Other than the fact that it's illegal in the US, there isn't any difference between owning a sports book and any other business.

Starting a business is not easy.. start learning about your preferred niche and when you are comfortable with all the information that you need to start then go ahead...

P.S. I do not have any idea so I am unable to give you specific suggestion. But the general suggestion is your site will have to information that will attract clients.

Nice and thoughtful response i am getting here. but can anybody suggest the best sportsbook software to go for?

a software called sportsbook i ave seen some where, google it. best luck

You should really get to know more about the business that you want to get into. And once you already know how it works, the advantages and disadvantages then maybe you can start building it.. You may want to look in into this one as well Sportsbook Software AG

Good Luck

There so many rules, and some companies bans betting websites. You should know each country which does not allow their citizens and not allow those countries to register at your site. You also have to have a very good lawyer in order deal with the possible legal issues. I'm not even talking about the amount of money you need to put in the business in order to get a good starting point. The competition is so tough and good luck in your journey!

Make sure you are living offshore where having such a site is legal. 60 minutes showed a segment on offshore betting and the U.S. government has a list of American citizens who are known to be a part of offshore betting sites. People on that list all have warrants for their arrest if they ever set foot on American soil again. Good luck and be careful. You need a good international attorney.

Who said costs alot ? If you know the correct people then is piece of cake. If you need help contact me and yes we can setup you less than $20 000 for sportsbet , bingo,casino,livecasino, poker

Good luck creating a gambling website or any kind without the proper capital.

Not only will you need to have a programmer working for you full time to ensure security of your website, but you'll also need a great script created. You'll probably spend at least $20k getting a good sports betting script creating.

That's just the icing on the cake... you're gonna need a lawyer and people offshore to make this all work. Including accountants, lawyers specializing both in the states and the offshore country you want to work, etc...

Next in order to attract investors and affiliates who will get people to your site you'll need some heavy promotion. This will run at least $1M (in most cases more) in order for you to be successful. So make sure you have the right investors on board who are willing to put that kind of money into your business.

Personally, I'd suggest you stay away from any gambling business. It's not as easy as it sounds and it may end up costing you a lot.

Now don't get me wrong. It is fully possible to start an online gambling business. HOWEVER, you're gonna need to gather a few million from investors and you're gonna run into so many problems with the law. So again, my opinion - stay away.

This is a great niche. I once had a job interview with such a start-up, but they were a bit shady.

And to all those posters complaining about it being illegal, most of the people in this world aren't American! Here in the UK you regularly see betting companies advertising on TV, which proves that it's a $$$$$ niche.

if you do not have the connections first, do not go for it. by connections i mean people that are into this kind of business. maybe start over with something small like a legal lucky game -lottery lets say- and then expand ..

Yeah, seems to be really expensive to start a sports betting business. Good friends of mine operate sportbars and cafés and some of them use the online sports betting software by SwissLuck (www.swissluck.com). It's an online service offering everything you need to run a betting shop. You should check it out to see if it fits your needs.

Your Web Casino | Start your own betting company today
All details that you need are there. Contact them and tell them what is your plan and they will help .

Step 1) Consult a lawyer
Step 2) Consult a lawyer
Step 3) Don't consult a forum about such a highly regulated and possibly risky business segment