Online Gaming is one of the most profitable industries on the Internet to day. Online gaming involves the gambler placing bets through any computer that is connected to the Internet. Wagers can be conducted through any one of many types of site including, Internet Casinos, sportsbooks, Horse betting, bingo, lotteries, finical wagering, as well as others. In a typical Internet wager, the bettor will use their credit card to purchase Virtual Chips or Tokens that are available for use only within the specific site. With these Chips or Tokens a player can place bets against the odds and after a win can choose to refund the credits to their credit card. With over 1100 casinos alone on the Internet, Online gaming is one of the fastest growing businesses today. In the year 2000 the total online gaming revenues were estimated at over $2.4 Billion US. It is projected that in the year 2002 the total revenue will be more than $4 Billion US. For some graphical examples of these statistics.
What is needed to start an online gaming site?
First of all you will need to decide which type of gambling wagers you would like to accept. In many cases a gaming business owner will operate a site with more than one type of gambling available. In this way once a player is attracted they are able to place bet in other areas as well, the more bets, the more revenue. Click over here http://www.cookieclickerhackx.com/ for more information. The most common combination of activities is a Las Vegas style Casino and Sportsbook. An online casino typically has multiple version of the following games; including Slots, Blackjack, poker, baccarat, big six, keno, let it ride, craps, roulette Etc. Many of these casinos also included many Non-American games including Paigow, Sic Bo and Red dog.
Once you have decided on the type of wagering you will offer, you will need to get the software to place, track and manage the internet betting. You have three basic choices;
You can develop your own software. This is the most complicated of the three and takes a lot of time and money. Costs for this can range from $1-20+ Million depending on options and features you want to include. The advantage of this option is that you return full control of your site and software and you will not have to pay any royalties to a software company. You will also need to set up you own merchant banking account and select and establish an offshore hosting location.
You can licence the software of a software provider. This is a much simpler option as in most cases the software provider will take care of a lot of your needs and/or help you establish them. Licensing involves purchasing the right to use the software of a given software company. The cost for this option will range from $50,000-350,000 with most solutions around $200,000. In most cases, you will also have to pay a small portion of your gross profit to the provider on a continuing basis, this is also known a royalty. With this option the software often has a pre-selected merchant account provider and you will have to use these services as they are “hard wired” Into the software itself.
You can become an sublicensee of licensee. This can basically be defined as finding as company that has everything needed to conduct gaming online, including a special master license from which they can issues you a sublicense. This is the fastest, simplest, and most cost effective way to start generating a profit from online gaming. The amount of money you will need to invest to be up and running will be significantly lower than the other option and prices range from $10,000-65,000