Starting an Online Casino

[universal4]

I would like to think that a government regulator would be beyond reproach, but if there is no complaint system in place, and no system in place to ensure operators are following ethical guidelines concerning players, or no consequences when an operator does fail to follow the guidelines, then I can't see Vanuatu as having much benefit over any of the other districts that are fairly gaming friendly.

And this doesn't even get near covering the issues we have seen with trying to hold the operator's official affiliate programs to some sort of ethical code.

And yes, as I posted above (I posted a quote from that page) I saw the code of ethics but did not see any explanation of how any of it is enforced.

Who knows, maybe Vanuatu could be the district that not only makes it more affordable for operators to operate ethically, but could be the district to actually help make it happen, but I remain skeptical.

Rick
Universal4

[VincentPerro]

I don't really have something worth saying, but the subject is very interesting, so i'd like to bump up the topic to get some more opinions, if you don't mind.

[leokilixx]

If you dont have a minimum of $500,000 as stated then its really difficult you can go get a white label solution.. roughly between 20k-50k but still need capital for potential big winners etc

[latrobet]

I dont know where this 500000 comes from. Some of our small operators start with alot less than that and "grow" into a substantial business.

Our software can give you live dealer casino, sportsbook with 300000 odd matches per year with hundreds of derivatives and 2000 live in the run events per month all based on a revshare with no setup costs.

So if you wanted to take on 100 of tour best loosers why would you need a 500000 bank?

Thats such old school thinking.

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[universal4]

So are you gonna loan a new operator money if they happen to have a $20,000 - $30,000 or $50,000 (or more) winner the first few days of operation?

Rick
Universal4

[Syndicate]

This is good--You are basically asking that we write the business plan. Why don't we work backwards by giving the forumites a ballpark figure of what you can raise, or set aside for such a project. For example someone mentioned 500K for a license, but it will cost you about 2500 a month in Curacao and 3000 in Philippines. Maybe an initial 15-20 set up costs and hosting (if needed) if you have stand alone. If you are looking at US traffic. a license is worthless because it restricts more than it allows.

In that case you would just set up in Costa Rica or Panama!! It goes without saying that a strong license gives better payment options and banking. The second you go high-risk merchant accounts the juice starts to dwindle.

I must mention i receive five such mail requests each week. Then their is the ones who want to set up betting syndicates, hedge funds and arrange banking in other places so they can bet from the States - What can i say other than many people have peculiar dreams!

Be more definitive - their are loads of options for software and endless amount of other possibilities - dependent on target audience!!

[latrobet]

So are you gonna loan a new operator money if they happen to have a $20,000 - $30,000 or $50,000 (or more) winner the first few days of operation?

Rick
Universal4

How does the conversation shift from needing a minimum of 500k to start an online wagering business to the loan of 20k?

Risk management is the core of this industry! One should never take risk that they cant service. But an understanding of the operations is key before making comments.

Jackpots are serviced via contribution and guarentee. Sports wagering is traded. Racing exchanges are a peer to peer environment so pose no risk of completion to operators.

A question to obtain knowledge is so much more engaging than a statement to create confusion.

My question to you universal4 is how would an operator end up with a 50k unforseen risk position? Remember that being a wagering operator is not just gambling in reverse!

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[universal4]

You intimated that the 500k was way more than was necessary without stating anything about risk mitigation.

Starting with too few of funds and having a HUGE winner during the first few days of operations "could" potentially cause a big financial harm to the new operator.

That is why I asked the general question of new operator loans to help mitigate that risk.

Now if there is absolutely no way for players to actually win....then I guess the risk is not there.

Rick
Universal4

[latrobet]

You intimated that the 500k was way more than was necessary without stating anything about risk mitigation.

Starting with too few of funds and having a HUGE winner during the first few days of operations "could" potentially cause a big financial harm to the new operator.

That is why I asked the general question of new operator loans to help mitigate that risk.

Now if there is absolutely no way for players to actually win....then I guess the risk is not there.

Rick
Universal4

Fair enough what I should have said is. If you are interested in potentially running your own online wagering business, you shouldnt be put off by the ney sayers. Ask questions, find out what is really entailed in running your own online wagering business.

Speak with software platform providers (not just us but all that will entertain your conversation) dicuss risk management strategies and establish a required budget for you proposed operation. What I will say is that in most cases you will need nothing like a 500k budget.

You will find that some platforms, us included, will offer performance guarantees on sport, after we have had a look at your traffic. This mitigates the operators risk even further.

Im at the Amsterdam iGaming supershow if anyone wants to have a chat on the topic.

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