Who would run their own sportsbook and casino if it was made easy?

[latrobet]

Imagine for a minute that you could get sportsbook software at an affordable price. That the market creations and finalisations were taken care of and the gaming license was thrown in for good measure... Who would run their own sportsbook?

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[IoannisTipbet]

I would do it without second thought.
You just need to have a broad knowledge of all aspects in the igaming industry

[TheGooner]

No.

[eenzoo]

casino yes, sports betting no ... really not my business

[IoannisTipbet]

No.

why not?

[justbookies]

I did set up and run one in 1998 for three years, but sold the company. Should have kept it really as made money and would have flourished, given how bad the rival UK bookmakers are. I can't get a bet on anywhere and I am not a winning punter. At least we took a bet.

Anyway, the other issues to consider are 1) the payments system. If you want to take credit card payments legitimately then you need merchant services account with bank 2) Regulation and red tape is terrible nowadays ie: operator (and, separately, software provider) must be gambling commission licensed if you have any UK-based punters, irrespective of where you are based. It's nothing that cant be sorted out though.

If I was younger I'd say 'yes' and do it all again because even in a saturated market like the UK there is so much opportunity for a bookmaker that would take a bet. Everyone currently operating wants millions of very small-staking losers so anyone betting just in three figures can't get on for long except at the exchanges. There are no bookies here, just accountants. But I am too old to start again, so reluctantly answer 'no'.

[JackTenSuited]

No, way to many headaches/dificulties to overcome and lots of competition (unless I had a big team behind me and a huge marketing budget).

Much better to be an affiliate.

[Syndicate]

Their are tonnes of options for taking that route - but no one in their right mind would go anywhere near such an idea. Afterall, the market is extremely competitive (saturated), you have no brand identity . And, while you might have a database of users, try getting them to sign up to an unknown.

It's simply a ''weak'' idea, and costs are still daunting. Anyone who answers yes simply doesn't have an idea about the gaming business in general!

And, from the name of the thread starter - This is just an advertising ploy!

[justbookies]

Their are tonnes of options for taking that route - but no one in their right mind would go anywhere near such an idea. Afterall, the market is extremely competitive (saturated), you have no brand identity . And, while you might have a database of users, try getting them to sign up to an unknown.

It's simply a ''weak'' idea, and costs are still daunting. Anyone who answers yes simply doesn't have an idea about the gaming business in general!

And, from the name of the thread starter - This is just an advertising ploy!

I started a firm from scratch and we were absolutely inundated with sign-ups. Do some good offers, be honest and (this is the crucial bit) actually take a bet from people and you will do very very well. The only mainstream UK firm that go close to taking a bet are Bet365 and look how successful they are (they still limit and close accounts, just not as badly as the other joke firms). Nobody had heard of Bet365 prior to 2000 or so.

I don't think the OP is doing a hard sell on anyone and if I had betting software I'd engage with this forum too. He is right, affiliates might be more interested in this sort of thing than anyone else.

[latrobet]

Their are tonnes of options for taking that route - but no one in their right mind would go anywhere near such an idea. Afterall, the market is extremely competitive (saturated), you have no brand identity . And, while you might have a database of users, try getting them to sign up to an unknown.

It's simply a ''weak'' idea, and costs are still daunting. Anyone who answers yes simply doesn't have an idea about the gaming business in general!

And, from the name of the thread starter - This is just an advertising ploy!

I have never hidden that I am a platform provider. I ask as this is a real question.

I feel that some affiliates just dont realize that operating your own book or casino is not a pipe dream. You are all obviously good marketers and committed to the industry. Maybe just maybe some quietly aspire to more than just selling someone elses brand.

Dont just write the idea off with contempt.




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[Syndicate]

Then we will just have to disagree.

You can give the same argument has bet365 to Tipico, although they had a ''get rich quick scheme'' by going into Germany and using the Franchise module. And, Bet365 are not buying in data/quotes and they spent multi millions on the platform.

If you have some ''niche'' market in Africa/South America ''on location'' brands might work, that is if you have the contacts to get into the market.

Online betting is saturated, and it's the reason new companies with low budgets are likely to fail.

I've been involved with the betting industry for a very long time, and i see it everyday from the inside. I can also say that a lot of my clients have become successful, and of course i too benefitted from that! - However, online i don't see it working unless the budget is massive!

I guess it just depends on what people expect for a return - maybe my expectation is simply too big!

I started a firm from scratch and we were absolutely inundated with sign-ups. Do some good offers, be honest and (this is the crucial bit) actually take a bet from people and you will do very very well. The only mainstream UK firm that go close to taking a bet are Bet365 and look how successful they are (they still limit and close accounts, just not as badly as the other joke firms). Nobody had heard of Bet365 prior to 2000 or so.

I don't think the OP is doing a hard sell on anyone and if I had betting software I'd engage with this forum too. He is right, affiliates might be more interested in this sort of thing than anyone else.

[canaryjohn]

If it was that simple then yeah, I would do it in a second. All you would really need is a marketing strategy. You could look at it like being an affiliate except you get all the takings.

[wonderpunter]

If it was that simple then yeah, I would do it in a second. All you would really need is a marketing strategy. You could look at it like being an affiliate except you get all the takings.

I could, actually I think my brand would go hand in hand with something like that

[justbookies]

Online betting is saturated, and it's the reason new companies with low budgets are likely to fail.

I've been involved with the betting industry for a very long time, and i see it everyday from the inside. I can also say that a lot of my clients have become successful, and of course i too benefitted from that! - However, online i don't see it working unless the budget is massive!

I guess it just depends on what people expect for a return - maybe my expectation is simply too big!

We don't disagree about everything. If you do it the same as all the recreational betting sites (william hill, paddy power etc etc) then you are directly competing against them and, yes, it is a saturated market.

I believe by actually being a bookmaker you suddenly become unique, because those firms are farcical for anyone who bets regularly and bets 'big' (though it isn't big). I have been a punter all my life and a bookmaker for part of it. If you run the risk management more like 5dimes or bookmaker.eu (ie: FFS take a bet) then you will get knocked over in the rush in the UK, a place where the only choices beyond the exchange, are the likes of BetVictor etc who close your account when you have £100 on a winner. They even rejected a bet of mine and slashed the price on the selection (and then closed the account)!

I remember in 1999 having a meeting with the bloke who set up SBT, who was purely trying to pick our brains on the pretence of buying our company, and his aim was to get the average bet size down to as small as possible. Our aim was to get the average bet size and turnover up. His approach made him a lot of money but his firm is a pile of ****. His sort of approach is saturated. If you do that with a small new firm, you fail.

[eenzoo]

Sounds smart and logic but sounds risky too?! You don't need a huge liquidity go take that path?

[Triple7]

Casinos at an affordable price are the casinos (and programs) that are slow-paying, not paying, closing their affiliate program, closing their casino after a few wins, etc.

I would immediately start up my own online casino if I have the money for something world class. Otherwise, not. I would not start up something cheap under a C-class white label, with some dodgy license, being besides the owner, also the helpdesk guy, the affiliate manager, etc. and with the dodgiest terms to not pay out too much and too fast to not be bankrupt in after the first weekend.

[Sherlock]

I did set up and run one in 1998 for three years, but sold the company. Should have kept it really as made money and would have flourished, given how bad the rival UK bookmakers are. I can't get a bet on anywhere and I am not a winning punter. At least we took a bet.

Anyway, the other issues to consider are 1) the payments system. If you want to take credit card payments legitimately then you need merchant services account with bank 2) Regulation and red tape is terrible nowadays ie: operator (and, separately, software provider) must be gambling commission licensed if you have any UK-based punters, irrespective of where you are based. It's nothing that cant be sorted out though.

If I was younger I'd say 'yes' and do it all again because even in a saturated market like the UK there is so much opportunity for a bookmaker that would take a bet. Everyone currently operating wants millions of very small-staking losers so anyone betting just in three figures can't get on for long except at the exchanges. There are no bookies here, just accountants. But I am too old to start again, so reluctantly answer 'no'.

I would like to hear more.

Either way as long as there are at least few honest big bookies I will rather stick with affiliates.

- It is no fun for me to manage people, I am scared to go in corporate way, I am scared of officialites; I like the way where I can do biz in minimalistic way
- I really do not know how pre-baked sportsbook can bring something new to customers; if the feed of the bookie would be Pinnacle (nice odds) or Bet365 (nice offer, frontend, backend), then maybe it might be interesting to bring them to the restricted market(s)
- I would not start without the gut feeling that here or there might be an edge (I do not have the feeling now about being a bookie, I have the feeling about other things); I think the economy has changed a lot nowadays, I think it is not enough to start doing something and doing it right. Information technologies brought scaling everywhere, not just to the internet. The value is sucked out of markets from the best or from the ones who have balls.
- The only gut feeling now is US market and Bitcoin, because it is a nicely stuck market, but I have no US experience, I do not understand US people and I think it is important. I think we tend to think of USA like this is a market of 300+ M people. From them maybe 25% want to gamble. But all the restrictions made the number of online gamblers maybe let's say to 1%. The rest is going to LV binges etc. Now, as the new round of restrictions is emerging, we expect further downsizing of the market. But I think US citizens are able to learn how to use the Bitcoin and the market can actually grow a lot instead of and because of further restrictions.

[justbookies]

Sounds like part of you wants to set up a bitcoin-only USA-facing sportsbook. That could be a good idea if it is managed correctly. For sure, the US is THE market. If life expectancy was 200 years then I would be doing it again, but not now.
Personally I did not like playing the role of control freak boss and being chained to a desk just dealing with one problem after another, including staffing issues. Being an affiliate gives far more freedom, but still comes with its own frustrations as you are not in control of the stats or the money. We just wait to be told what we earned - that's the big failing, we don't know for sure how much we are being ripped off.

[Sherlock]

My recent problem is that I am already the boss dealing with one problem after another. Second problem is that I have much more money that I could ever imagine. And the time is running for me too!

Gambling is my life, but seriously it is not something to be much proud of. I need to live for someone, for now it is the employees, but this model can be hardly done on large scale. But tbh being part of the progression in setting up a new monetary system is also exciting.

So I am staying away - I see better business elsewhere for now (stronger gut feelings), I do not know US market and I have to decide if I want to retire or semi-retre. It will be interesting to watch from sidelines and take part as affiliate. I think in the US the btc bookies and the old online bookies will merge into one hybrid model soon (btc only transactions, dual currency [USD. BTC], soft KYC).

[justbookies]

I would like your second problem.