Online Gambling Business

by Hawkzer

Posted: 13 years ago 21 replies

INTERNET MARKETING

How easy it is to set up and run your own online casino? The answer is probaly not very but the idea intrigues me nevertheless. What kind of capital is absolutely necessary to start one up and what kind of requirements would need to be met? Is it possible to start up a tiny tiny business with almost no over heads? Or does one need to invest in very highly developed gaming software from the word go? Any ideas? Is this a complete pipe dream for most people?

#business #gambling #online

Brian E Adams 13 years ago

Hawkzer, the bigger issue may be of a legal nature. Most online gambling businesses reside off shore for legal reasons. I've been noticing in the news recently that congress is considering a total ban.

I'd check carefully into the business and legal issues first. I'm sure you can buy the software later if you have smooth sailing with the law.
- Thanks
Signature
WebinarMax - The Ultimate Webinar Replay Service
{{ DiscussionBoard.errors[4176020].message }}
webapex 13 years ago

You saw there were warrants issued for the arrest of the oiwners of some of the biggest operations for money laundering (violating U.S. gambling laws)

Trust is a big factor, I understand there's a special random number generator that doesn't have the predictability of many standard psudo random generators.
- Thanks
Signature

â€œAn expert is a person who has made all the mistakes that can be made in a very narrow fieldâ€ Niels Bohr
{{ DiscussionBoard.errors[4176359].message }}
Eddy19 13 years ago

I think this job is not so easy, i have more than 3 years in this field and very few times i have seen someone asking for these kind of business or relating to this.
- Thanks
{{ DiscussionBoard.errors[4176527].message }}

Melody

13 years ago

I've been a consultant to the online gaming industry since 1996 - unless you have a few million to spare right now, the time is past for the small entrepreneur to get in the industry. You can't get payment processing unless you are in a licensed jurisdiction, and a license will set you back at least 250k.

Webapex: It is legal in most countries, and look for it to be legal in Nevada, and several other states shortly - most land based companies already have their partnerships in place with the larger online companies, ready for the US licensing to start.

Also - the recent arrests were actually for bank fraud primarily as they were trying to hide the true nature of the transactions.

But in the UK - even Paypal processes for the larger gaming sites.

Melody

Thanks
1 reply

Signature

Our first "Digital Yard Sale"! A massive PLR Blowout Sale to help a friend pay medical expenses.

{{ DiscussionBoard.errors[4176532].message }}

ShawnSells

13 years ago

Originally Posted by Melody

I've been a consultant to the online gaming industry since 1996 - unless you have a few million to spare right now, the time is past for the small entrepreneur to get in the industry. You can't get payment processing unless you are in a licensed jurisdiction, and a license will set you back at least 250k.....

The payment processing issue by itself is enough to stop most who venture into it. I agree this is not the place for someone to start an online business.

Thanks
2 replies

{{ DiscussionBoard.errors[4603794].message }}

steve129836 13 years ago

My first website was a in a poker niche. I intended to earn money as an affliate. I couldn't advertise on google as they required me to be registered with the gambling commision, even though I was just redirecting traffic. So I imagine setting up a full casino would have loads of hoops to jump through. Even if you got that far you'd be in a market with major competition, people tend to trust the major sites more.
- Thanks
{{ DiscussionBoard.errors[4603962].message }}
esrimve5 12 years ago

Originally Posted by ShawnSells

The payment processing issue by itself is enough to stop most who venture into it. I agree this is not the place for someone to start an online business.

I agree about the payment processing but I still think online gambling is not such a bad idea for a business. Casino/Sports booking affiliate marketing can become a decent source of income if planned wisely. I know some affiliates who have grown to open their own companies and now employ tens of people. If you take your affiliate venture seriously (as you should do with any type of business), at some point in the not so far future you might be able to save just enough to open your own casino as you initially wanted
- Thanks
- 1 reply
{{ DiscussionBoard.errors[4974358].message }}
- Fordster 12 years ago
  
  Yes, I agree, the european markets provide enough business for many sports tipping/bookmaker type businesses. However, the casino/poker craze has gone in my opinion. I'm a full-time sports investor and I would never hand over my cash to any type of casino these days. There is only one winner in that game!
  
  Thanks
  
  Signature
  Premier Football Lays - At last, a Football Tipster that consistently makes money on the betting exchanges.
  
  {{ DiscussionBoard.errors[4974440].message }}

ollarbank

13 years ago

Be an affiliate for several casinos.

Create a blackjack, roulette, craps system or strategy and then market that for free and recommend the BEST online casino. You can earn 25 - 30 % commision

Thanks
1 reply

Signature

Let me - GIVE YOU - right now - 17 FREE VIDEOS - revealing my top MONEY MAKING Twitter secrets and how ANYONE can MAKE $100 per Tweet in just 7 days from now using only 100% FREE methods. Nobody else is doing this and the BEST PART IS - The secrets are yours today - FREE - I will only giving this away for a limited time >>> CLICK HERE for INSTANT ACCESS <<<

{{ DiscussionBoard.errors[4176595].message }}

Melody

13 years ago

Originally Posted by ollarbank

Be an affiliate for several casinos.

Create a blackjack, roulette, craps system or strategy and then market that for free and recommend the BEST online casino. You can earn 25 - 30 % commision

But - you also need to be cautious here as well - not legal in all areas to advertise gaming - USA, Ontario, Canada to name a few. And you have to be creative - Google for example no longer accepts gaming ads.

Thanks

Signature

Our first "Digital Yard Sale"! A massive PLR Blowout Sale to help a friend pay medical expenses.

{{ DiscussionBoard.errors[4176613].message }}

CostaRicaLawyer 13 years ago

Hello
There are many steps needed to enter this business. First you must decide which country to operate from.
Here in Costa Rica we have over four hundred online gaming companies presently operating.
You need to apply for a Data Processing License here in Costa Rica.
You also need to form a Costa Rica Corporaion and bank account.
No gaming deposits can be placed in any Costa Rica Bank.
Next step to find a offshore bank account and processors that will except the gaming business.
Then you need to secure gaming software. Casino-Poker-Sportsbook-Bingo etc
You need to find a hosting company that will host your website.
Maybe consider setting a call center for customer service.
Marketing will be your biggest expense. What markets do you want to explore?
I can tell you that Europe-Asia-South America are becoming very hot!
We offer turnkey gaming packages for investor groups.
Thanks

Lic Giovanna Barrantes
Gaming Attorney
Barrantes & Associates
011 506 2 256 3807
Skype CostaRicaLaw1
- Thanks
{{ DiscussionBoard.errors[4603617].message }}
Steven Miranda 13 years ago

I have seen and heard nothing but bad things about these types of ventures. I would stay away.
- [ 1 ] Thanks
- 1 reply
{{ DiscussionBoard.errors[4603993].message }}
- hardraysnight 13 years ago
  
  Fortunately, there is a whole word of markets beyond usa
  
  i am involved in sports betting, it is easy to lose my money, but i now work only with English bookmakers
  
  Thanks
  
  Signature
  These guys helped me with the feedback for my site
  
  {{ DiscussionBoard.errors[4604453].message }}
Jason Rankin 12 years ago

I myself don't hand my money or even enjoy playing casino games, however there still are tons of casino gamers even today. All types of gambling makes casinos, on and offline millions, even though the odds are always in favor of the house!
- Thanks
- 1 reply
{{ DiscussionBoard.errors[4975025].message }}
- robp12 12 years ago
  
  I'm currently an affiliate to a reputable online gaming site (Bodog) and make a decent amount of money with it.
  
  Most gambling affiliates pay you a certain amount per sign up ($75) or offer a revenue share (usually 25%). It's definitely a good source of income if you can convince people to sign up with your affiliate.
  
  Thanks
  
  Signature
  
  My name is Rob and I'm the founder of Career Dreaming, where I help job candidates leverage the power of recruiters to find a new job.
  
  {{ DiscussionBoard.errors[4975112].message }}
joshef 12 years ago

We all know that gambling is always have a issue with legalization. As, if gambling is legal in you nation then you can think for this business. As, now a days there are many people who are in these business are making lot of money.
- Thanks
Signature
SEO Bangkok
{{ DiscussionBoard.errors[6426721].message }}
richardjes 12 years ago

I run a horseracing members service and I think that Melody raises a good point in terms of US Legislation being an issue.

This does however create an opportunity if and when the US market opens up to Betfair (Global Betting Exchange) be interested in what Melodys views are on this.

Instead of an online casino or sportsbook you could act as an affiliate for the gambling companies and also for the software companies that produce betting software. Betting Bots are becoming increasingly popular and are agood potential affiliate stream going forward.

Cheers
- [ 1 ] Thanks
Signature

Learn How I Made $1400 in 8 Days
http://moleculemarketingblueprint.com
{{ DiscussionBoard.errors[6426780].message }}
reachintan 8 years ago

Online gambling business is illegal in most countries and hence it is better to do your own research.

It is better to start something in affiliate marketing where you do not have to deal in any upfront investment.

Chintan
- Thanks
Signature

Chintan Mehta
{{ DiscussionBoard.errors[10591819].message }}
KerryMe 8 years ago

and to start a business needs a lot of money...
- Thanks
{{ DiscussionBoard.errors[10637049].message }}
nickherc 8 years ago

I think it's too big of a project for one (or several) individuals.
- Thanks
Signature
Buy your girlfriend something nice.
{{ DiscussionBoard.errors[10637526].message }}
Profit Traveler Banned 8 years ago

Very realistic thoughtful comments.

The real world of gambling consist of a lot of deals. On the table, under the table, possibly hit with the table.
- Thanks
{{ DiscussionBoard.errors[10638110].message }}

Online Gambling Business

Trending Topics

Any thoughts on golf's latest phenom...Scottie Scheffler??

What's the Best IM-Related Skill to Learn Today That Can Help in the Future?

The Twilight Zone

best high quality crypto traffic.

Some interesting stats about brand comms