View Poll Results: What is the cost of starting a sportsbook? (really)

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Thread: Sportsbook101.

  1. #1
    WagerFarm is offline New Member
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    Thumbs up Sportsbook101.

    I am looking to start an online sportsbook with a data
    processing license in Costa Rica in the near future and need major help.

    I am currently working with a $50k budget that I have accumilated in the recent couple months and am quickly gaining ground as I tend to be good luck and I can also get other investors rather easily but cannot approach them until I have my facts straight. Without boring you with my life story, sports has been my bread and butter for the past years and it is time to take it to the next step or at least in the near future.

    I am currently talking with a couple people about licensing thier software and utilizing services such as processing and marketing but frankly don't know who to trust. Do you guys have any reputable people I can talk to for a reasonable price? As I said before I am on a low budget and must make this work. I was broke, until 7 years ago I started out in this business by pure luck, and no matter how hard I try to succeed in other business ventures, the sports business has always been there for me and has come natural. It is time to take the next step.

    Any information, contactsor advice would be much appreciated!
    Last edited by WagerFarm; 7 February 2009 at 7:28 am. Reason: .

  2. #2
    matted's Avatar
    matted is offline Public Member
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    I think you need to look at it and wonder how you will be able to compete i n the marketplace. With 50K startup, I wonder how you are going to cover a bet of any reasonable size. You have to pay for the data on the backend, customer support setup, a website, licensing, maybe a couple staff members to review the lines, make sure everything is running in a technical sense, and oversee operations in general. Oh - and you really need to have a thorough legal review of everything.

    50K is a drop in the bucket if you were going to do it right.
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  3. #3
    WagerFarm is offline New Member
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    Thumbs up

    Quote Originally Posted by matted View Post
    I think you need to look at it and wonder how you will be able to compete i n the marketplace. With 50K startup, I wonder how you are going to cover a bet of any reasonable size. You have to pay for the data on the backend, customer support setup, a website, licensing, maybe a couple staff members to review the lines, make sure everything is running in a technical sense, and oversee operations in general. Oh - and you really need to have a thorough legal review of everything.

    50K is a drop in the bucket if you were going to do it right.
    Thank you so much for your honesty Matted. What a relief.

    So,.. I can get more financing from investors.. In my seven years of taking bets I have yet to take a hit (the 50k is from 2 months of savings.. 3 more months an I will be fine.. Also I am good luck, in 7 years I paid out twice for minimal amounts. I truly believe this is my calling, this is what I am here on earth for. I can easily get more financing to cover the bets. Marketing, licensing for the software, knowledge and plain honesty, fairness and friendship is what I seek..

    Matted thanks again for your honesty, and your responce to a new comer. It is much appreciated. Can you or anyone reading this please give me a more detailed cost basis for the items I need to launch. I need to know what would need to be covered and how much each onewill run roughly.

    I am new but am actively seeking to learn asmuch as possible (hopefully I am in the right place) as this is my calling. Some people dream of being an astronaught, or a fireman, not me. I picture myself as an online casino owner. Steve Wynn and Calvin Ayres are my heroes and role models . I have love for the game and any help along the way will be remembered and counted.

    Lists and details please. (legalese is less important as I have been in the criminal legal field for 7yrs, that is the first that will be adressed on my end.)

    I know I am asking alot and I apologize in advance. As humble as possible, I will continue to ask much.. please tolerate me on this site moderators.. thanks in advance!

    Best Regards,

    Steve.

    PS: the 50k for me is a significant amount as I come from humble beginnings. But when a fighter and survivor has his mind set, no force in the world can stop that.

    Us poor folks who want to stake a claim in this world and has made it to this day, we have relied on one thing, not our skills or our knowledge, but our word. Our word. people are the most important aspect in any business or relationship.. I come to you with open arms and hopes. Lets network together and and expand our wealth
    Last edited by WagerFarm; 8 February 2009 at 6:44 am. Reason: the PS:

  4. #4
    universal4's Avatar
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    Whether you have a legal background or not (no offense) but you will need a good attorney that has a background in Gaming Law. A few names come to mind, but a GREAT resource is
    http://www.lawrencewalters.com/

    Rick
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