Owning an Online Casino

[ryleduke]

Where do you start in going about buying one? Can you buy a franchise from the software providers (like say Wagerworks, where a number of bookmakers have). Can you buy a brand from a casino group, like say PlatinumPlay from fortune lounge, or does fortune lounge own all their casinos directly?

Roughly how much start up funding would you need? Anyone with any ideas about any of this please post here if you can help.

 

[deaning]

Research, research, research. Do your homework. No offense, but your post pops into mind: "Ah, just woke up today...hmmmm, bit bored. I know! I will buy an online casino!"

You can spend $0-$1,000,000+. $0 outlay can return you more than a million bucks invested in an unknown entity if you do the homework. That holds true in any investment.

I shut up. I suck at business waffle!

 

[ryleduke]

I am researching, thats why I asked. This isnt the only place I have asked for advice/information. So again if anyone knows where to start, please help.

 

[Simmo!]

I am researching, thats why I asked. This isnt the only place I have asked for advice/information. So again if anyone knows where to start, please help.

You can probably get an RTG for about $10 bucks but i think they insist you have at least $100 in the bank to pay players with Only jesting. In all serioussness, you're best off contacting the providers: MG, Wagerlogic, RTG etc and asking. Each will have certain investment stipulations to ensure you have the ability to fund the operation obviously and no doubt in more recent times background checks will be an important part of the process.

I doubt an existing casino group would entertain a co-op deal unless you were already well established or had mega-bucks investment equity and a management record in the industry behind you aswell.

I'm only best guessing here but a call to the providers would probably help.

Cheers

Simmo!

 

[dominique]

I suggest you first play the different softwares , the more common ones which are tried and proven.

Then you go and pick the one you like bast, go to their website and inquire.

They will more or less lease you the software and you can make your own brand.

If you want to buy a branded casino, go to the rivercity group here:

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Please do yourself a favor and invest some money in playing the different casinos, read forums for a while, also visit casino affiliate forums to learn more about marketing.

The market is overcrowded at this time, and casinos are having a difficult time advertising thanks to the department of justice of the US. It is anything but easy to start a new casino these days.

Buying a branded casino - make sure you search Meister here, WOL and affiliate forums for the name and ascertain their reputation, or you could have a rude awakening.

 

[ryleduke]

Thankyou very much for the replies. I have played all the different software types an awful lot and know the pros and cons of each, ie wagerworks and chartwell no downloads so popular but Blackjack play is a joke, Cryptologic good gameplay table games but boring slots and PIN to withdraw annoys people, Microgaming probably is best overall but I expect most expensive.

I as looking for more along the lines of how much does it cost and are you better off just sticking to being an affiliate and taking 20-30% of net revenue risk free rather than 100% of revenue but with the overheads/risk involved? What kind of turnover would be needed/do most casinos have etc? Any advice appreciated but I realise this isnt the best place to ask, it is just I am asking everywhere and every little helps.

 

[Chatmaster]

I guess as far as starting a new casino is concerned, it is much better to stick to being an affiliate. However, if you have the money to buy an excisiting casino with good rep that will be a better option.

The thing is, as an affiliate you are probable making more profit than the casino of the players you sent them, but the real benefit comes into play for the casino when 100's of affiliates are advertising them online. So in a way you should compare a casino to multi tier affiliate commission in which case it is much more rewarding to own a casino.

With a new casino, you will need to put an infrastructure in place before starting up so you will need 100k plus to start up. There is allot things you need to set up, i.e. Toll Free lines, Payment options, Progressive contributions not to mention a marketing budget for at least 6 months! You will need to set up customer support that are worth some, other wise You'll have a dead born casino with bad rep very soon.

I believe being an affiliate is much more enjoyable. Get your own gambling community going with your own loyalty program, then your biggest benefit? You are able to promote different casinos, meaning you are able to suit most of your visitors tastes and requirements. If one of the casinos loose rep, you dump them! No infrastructure, cashins departments, customer support and other crap to put up with. Just hard work daily, knowing you can trust on your own abilities to make this a success or not!

At the end of the day the decision is yours, with any business decision you have to way up the risks and rewards.

 

[CasinoSakana]

Where do you start in going about buying one? Can you buy a franchise from the software providers (like say Wagerworks, where a number of bookmakers have). Can you buy a brand from a casino group, like say PlatinumPlay from fortune lounge, or does fortune lounge own all their casinos directly?

Roughly how much start up funding would you need? Anyone with any ideas about any of this please post here if you can help.

A good start to look for a gambling license is here ->

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