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Betting site

by deniremas
15 replies
Im considering starting up an online betting site. The software license cot is pretty stiff and Im considering taking out an $30,000 bank loan...any advice and wise words would be highly appreciated. Thanks
#betting #site
  • Profile picture of the author vidpes
    Betting sites tend to work very well as well as casino sites. If it gets popular, you do be making lot of money through it. I made a site like that for a client with custom script and custom roulette software. He is making huge bucks now. It worked out very well for him.
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    • Profile picture of the author RogueOne
      Gambling sites of any kind are tough to promote.
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  • Profile picture of the author cjshu99
    Yes it's gonna be tough. Betting online is big business outside the USA and most sites have lots of cash behind them and most countries are starting to regulate them. Plus you'll be going against some huge established sites.
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  • Profile picture of the author YasirYar
    The gambling niche market is highly saturated and marketing as well as promoting it could be pretty tough. If I were you, I'll do more of an in-depth research before you take the plunge on that bank loan. Otherwise, I suggest you start a low investment and monitor ROI first and go big time when you know that it'll be truly profitable.
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  • Profile picture of the author deniremas
    Thanks for all your input guys...yes I'll need aggressive marketing and promotion. Here in my region, the market is not quite saturated...infact, there is an (instinctive) need for such a convenience. Many people cannot quite access or comfortably use the current major bookmakers. So the potential is there...my only concern is the steep running costs of the software. Traffic may be slow to pick up. And with a bank loan; bankruptcy is an extremely uncomfortable situation!
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  • Profile picture of the author Andy_UK
    $30k is not normally enought to buy decent sportsbook/casino software and market, so I assume you have other funds or a massive amount of your own gambling traffic?

    The first thing you have to make sure of, is that the company offering you gambling software is legit, and have a track record with happy clients. Have you done your research? You only have to read some of the old posts on startcasino forums to see how many sharks are after people like yourself.
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  • Profile picture of the author Dr Boom
    Sounds like a big risk.

    What if someone wins really big on your betting site? Will you have the resources to pay them?
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  • Profile picture of the author Captain Kent
    you need to be careful with those (you will need a lot of money to marketing as well)

    my advice, stay away from it and start something else!
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  • Profile picture of the author E. Brian Rose
    I would suggest looking into getting a "skin" of an existing site, rather than trying to run your own gambling site. Also, be sure and check with an attorney in your country before doing anything in the online gambling sector. You wouldn't want to be on the wrong side of the law with gambling.
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    • Profile picture of the author deniremas
      Thanks for the replies guys. And in responce.
      1. Dr.Boom, we can alway limit client winnings via Terms and Conditions and can limit your exposure through various settings within the software.
      2.Brian Rose, it is all legal in our region..and we shall follow the appropriate legal channels.
      3.Andy_Uk..pm me a link to where I can cross-check some more..so far they seem pretty legit to me!
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      • Profile picture of the author Dr Boom
        Originally Posted by deniremas View Post

        Thanks for the replies guys. And in responce.
        1. Dr.Boom, we can alway limit client winnings via Terms and Conditions and can limit your exposure through various settings within the software.
        2.Brian Rose, it is all legal in our region..and we shall follow the appropriate legal channels.
        3.Andy_Uk..pm me a link to where I can cross-check some more..so far they seem pretty legit to me!
        Are you based in the UK?
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  • Profile picture of the author Stuart Walker
    1. Dr.Boom, we can alway limit client winnings via Terms and Conditions and can limit your exposure through various settings within the software
    Yeah because gamblers just love being told they can't have that big sum they just won because it's in the t&cs. That's a sure fire way to get repeat custom.

    As someone who used to be a pro online gambler and has had his fair share of problems with even the most reputable casinos and sports books I can only image the issues a small independent bookmaker could run into.

    You need some serious bankroll if you're going to do this. Personally I wouldn't get into it.
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    • Profile picture of the author deniremas
      Originally Posted by RockingLastsForever View Post

      Yeah because gamblers just love being told they can't have that big sum they just won because it's in the t&cs. That's a sure fire way to get repeat custom.

      As someone who used to be a pro online gambler and has had his fair share of problems with even the most reputable casinos and sports books I can only image the issues a small independent bookmaker could run into.

      You need some serious bankroll if you're going to do this. Personally I wouldn't get into it.

      Lol. Nice way to put it. But honestly...our economy is not as good as that in europe. And no,Im not based in U.K...rather a third world country.
      So,sure I need some decent money...but not quite as much as I'd need to start a similar venture in Europe.
      The maximum payout of Any gambling company currently operating in the country is £5000-Every player knows that..and incidentally,online bookmakers limit at £1000, because that is the maximum amount that can be transfered with the payment options available.
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      • Profile picture of the author butters
        What past experience have you had at promoting websites? Whats your average traffic per month for each website? How long have you been in this business? What past experience have you had with betting system? Do you understand the maths behind gambling? What is your gambling experience?

        The list can go on with questions, just a few you may want to ask yourself before you go and get a 30k loan.
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