How much do you think it cost

To start up an online casino or pokerroom?

 

Wild Guess

At least 250k for decent equipment, and another 700k as back up in your bank for paying stuff while producing profitts...

Also remember the software... some of them can be quite expensive..

If you start thinking in marketing.. the investment might be over 1.5 million...

Wild guess as I said...

 

try Ebay...


from 0.01p


to $5K

You must register/login in order to see the link.

 

I can do better than that. Grand Virtual lets you start your own casino for free.

 

Depends.

depends if you intend to run a REPUTABLE casino or not!

If you have no backing, you could be in the Rogues gallery in no time.

It should be possible to take out insurance against being hit by a big winner early on. Many of the big prizes work on the principle that it is unlikely the top prize will actually be won, such as through 18 dice all on 6 to win a luxury car at a dealer. They pay a premium based on the odds, the insurance company effectively lays odds that the car will not be won, and the dealer pays the premium. The dealer wins if the car IS won, he gets the publicity, but it has cost nowhere near the price of the prize to run.

Once a casino is established, the need for such insurance reduces, and can also be obtained more cheaply. Such insurance is important if you plan to have progressives that have not been funded by previous play at launch, or for the possibility that a player will hit a PAT RF on a multi-hand VP at max bet,,which could cost over $100,000.

 

IIRC

did this not happen with 32red when they first started up? some one hit a big slots win shortly after they went into business?

if i am wrong or right Path or Ed could correct me?

 

To start a casino or pokerroom you need to be out of state. Have a good backer and insurance, which I dont really see the need for insurance on a pokerroom unless you offer jackpots or no deposit bonuses which might be a good gimmick to get players roaring in.
Thats about it!

 

Nevada casino are required to have substantial amount of cash available all the time to ensure that they are able to pay the players. For a typical Las Vegas Strip or Downtown casino it would be several million dollars. Famously, Binion's Horse used to have an exhibit of 100 $10,000 gold certificates, which counted towards the casino's cash reserves.