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Own your very own online casino!

Discussion in 'Online Casinos' started by Avatar73, May 8, 2007.

Thread Status:
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    May 8, 2007
  1. Avatar73

    Avatar73 Experienced Member

    Occupation:
    Pilot
    Location:
    UK
    Would anyone else like to own an online casino, or is it just me?!

    If so, what software would you use? :)
     
  2. May 8, 2007
  3. ProducerK

    ProducerK Dormant account

    Occupation:
    Producer
    Location:
    Hamilton, Ontario
    Well,

    since it is very expensive to start up an online casino, I would not have the chance to do so. I do not believe in any of those futurebet casinos, or rogue casinos that Windows Casino used to use.

    But, sometime down the line, if I ever started an online casino, I think it would be run by the Microgaming Viper software, as I think it is the most reliable out of the major software providers out there.

    That is just my two cents....
     
  4. May 8, 2007
  5. sweiger

    sweiger Experienced Member

    Occupation:
    IT consultant (IBM Mainframe)
    Location:
    Copenhagen, Denmark
    I second ProducerK. You've got to have a substantial starting capital to cover various expenses, including big time marketing. How many online casinos are in business p.t.? My guess is you'll have to compete with 1200+
    ...and don't forget that even with the house edge, you might have to face a negative balance most months the first year or so, until (a) you get enough customers and (b) the mathematical aspect of the house edge shows up.
    But if you go for it, I will take a peek at your sign-up bonus...;)
     
  6. May 8, 2007
  7. katodog

    katodog Experienced Member

    Occupation:
    manager
    Location:
    Rochester,NY
    I can't afford to do so but if I could I was use the software that HYPE uses but pay people:lolup:
     
  8. May 8, 2007
  9. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    Actually there is a scheme to have your 'Own Branded' online casino which costs nothing (Run by an established company - you get a percentage of the profits).

    I was seriously considering a 'Kasino King Kasino'!

    I would do it if everyone here promised to sign up... :rolleyes:

    KK
     
  10. May 8, 2007
  11. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    I have thought of this, the best party to be in any bet is the bookie:D

    For a casino, you will also need to make certain you can afford to pay out a big winner early on. It may not happen, but if you got into trouble paying out, the business could be finished before it gets a chance.
    Many of these risks can be insured, believe it or not!
    There are a number of companies that will insure against certain big prizes being won. if you go to some local event, and see a new car being given away to anyone who rolls 6 sixes on 6 dice for 50p, you can bet they have insured against paying out. To make a profit, which is usually for charity, the stall only has to cover the cost of the insurance premium, not a new car, and the charity makes a profit even if the car is won.

    It IS possible to get dirt cheap casino software, but it has a bad reputation, and only fools and newbies will play.
    Startyourowncasino is offering its cheating casino software for a mere $10,000 for full ownership & source code. It can be rigged to prevent players from winning too much, so you don't need insurance:rolleyes:

    Hype would be a better choice, but again it has a troubled reputation. Microgaming would have very high start up costs, as well as the need to insure against wins of around 100,000 to 200,000 credits (pat royal flushes and non-progressive slot jackpots).

    Despite all this, there is no guarantee of making money - quite a few online casinos end up in trouble, and a few go bust.
     
  12. May 8, 2007
  13. Avatar73

    Avatar73 Experienced Member

    Occupation:
    Pilot
    Location:
    UK
    true, but even bookies can take large hits! tho its a lot easier to limit.

    I know... you would need about 1M USD to start one - so unless about 20 people wanted to club together with me, I think it's out of all of our leagues! I just thought it was interesting :thumbsup:
     
  14. May 9, 2007
  15. mikepipe

    mikepipe Dormant account

    Occupation:
    owner
    Location:
    still progressing
    not me. i do have a job. choose rtg and make a good one!
    It would be the first, ye know?!
     
    1 person likes this.
  16. May 9, 2007
  17. lojo

    lojo Banned User - repetitive violations of <a href="ht

    Occupation:
    Tradesman
    Location:
    USA
    I've been thinking of a software that would be happy with a small percentage. Something I could invite a few friends onto and play, or they me. Anyway, it's out of my realm as a US player. And nothing I could afford or create alone anyway.

    But how hard would it be for a license owner to create a propriety version for 'clubs'. Just a thought.
     
  18. May 9, 2007
  19. happygobrokey

    happygobrokey Dormant account

    Occupation:
    student of life
    Location:
    canada

    you are aware the acronym is KKK right? would the K's on slots pay higher?

    i gather this is how ms. tequila got her casino?
     
  20. May 9, 2007
  21. lojo

    lojo Banned User - repetitive violations of <a href="ht

    Occupation:
    Tradesman
    Location:
    USA
    You just like to stir sh*t up doncha Happy?
     
  22. May 9, 2007
  23. lojo

    lojo Banned User - repetitive violations of <a href="ht

    Occupation:
    Tradesman
    Location:
    USA
    I'm down, KK.
    I remember a while back a wealthy man with friends asked for it. Why couldn't we dunks do it as well. I don't mean vip, just a place to play. Maybe I'm out of my league.

    I would dig a simple software. We can play craps, roulette, bj in the round, maybe slots tournaments.

    It's out there, it's simple, it ain't nobody's bidness i guess.
     
  24. May 9, 2007
  25. Pinababy69

    Pinababy69 RIP Lisa

    Occupation:
    Crusader
    Location:
    Toronto, Ontario - Canada
    I'd love to have my own casino. I'd have a specialty slot where the bonus round is a bunch of scantily clad hunks, who you get to disrobe the further you progress in the bonus round. I know that Jenn would sign up as she likes her eye candy!! :D

    Oh, and the men get to disrobe babes. However, if they make any lewd or lascivious comments while playing....I will pop out of the screen and give em fifty lashes with my cat o' nine tails. How does that sound? :thumbsup:
     
    3 people like this.
  26. May 9, 2007
  27. lojo

    lojo Banned User - repetitive violations of <a href="ht

    Occupation:
    Tradesman
    Location:
    USA
    I'd go there!!! :D
     
  28. May 9, 2007
  29. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    ... :confused:
    Could someone please translate that into English for me...
     
    1 person likes this.
  30. May 9, 2007
  31. lojo

    lojo Banned User - repetitive violations of <a href="ht

    Occupation:
    Tradesman
    Location:
    USA
    remember a while back a wealthy man with friends asked for it. Why couldn't we dunks do it as well. I don't mean vip, just a place to play. Maybe I'm out of my league.

    I would dig a simple software. We can play craps, roulette, bj in the round, maybe slots tournaments.

    It's out there, it's simple, it ain't nobody's bidness i guess.

    Hope that helped. :)
     
  32. May 9, 2007
  33. dominique

    dominique Dormant account

    Occupation:
    webmistress
    Location:
    The Boonies
    It takes a lot of effort to run a casino, you need to hire and train all kinds of people, tech, graphics, support, office, accounting etc etc. You need an office for them, and nowadays, unless you stay in Europe and only accept certain European countries, you need to be on top of the financial world. Tax and Banking lawyers, processors, as well as online gaming lawyers and and and....

    You can avoid most of that by using a white label. But the majority are scams, and of the ones that are not, you will need to investigate their payment capacity. I don't just mean money in the bank, I mean the ability to do payouts within a reasonable time frame despite the UIGEA hurdles.

    You will need help in marketing in any case, because if you don't have money coming in you can't pay it out.

    It would be a wonderful thing to do a community casino, but just not an easy feat by any stretch of the imagination.

    I like Pinababy's slots :) Grand Virtual has a striptease slot... but nothing as hot as Pinababy's.
     
  34. May 9, 2007
  35. Simmo!

    Simmo! Moderator Staff Member

    Occupation:
    Web Dev.
    Location:
    England
    The whole white label thing makes me nervous plus I like to know who I'm dealing with, not just who's fronting it. It would have to be on proper respected software and thus, a stand-alone licence, or an "out-sourced" operation using a respected casino operator for me to want to become involved.

    Microgaming would be my first choice. Wagerworks and Crypto I'd also consider although I'd prefer to see a wider range of games on the former.

    That said, I hate having employees and I hate "customers" :D Been there, done that, and it's nothing but trouble. And the customer always wants to win!! What's with that? ;)
     
  36. May 9, 2007
  37. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    I would not recommend anyone to get into the business unless they have some serious real life casino experience, finance and marketing finesse and at least 3 mill (Euro) in the bank. And that's after setup fees, licensing, etc.

    I would not recommend the cheap brands of software because you get what you pay for in this business. If you don't have the cash or the know-how on operating a casino, I would go for a white label. But this is just a full-blown affiliate account and is geared toward a niche market. They come and go pretty quick. I would be pressed to name one successful white label casino.
     
    1 person likes this.
  38. May 9, 2007
  39. dominique

    dominique Dormant account

    Occupation:
    webmistress
    Location:
    The Boonies
    Yep. Even ones with decent backing tend to fail because promotion isn't easy. Affiliates tend to avoid them because they are not considered stable.

    So you need a huge advertising budget in addition to everything else.

    It sounds easy but it's a quagmire.
     
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