Build Your Own Online Gaming Business

We know and believe that online gambling is one of the world’s fastest growing industries. Thanks to the world wide spread of the Internet and online gambling’s developing population. And because of its increasing gamers, it is but natural and logical that service providers would also increase. There are so many gamers out there that the entire industry is worth billions of dollars with an estimate $150 Billion in 2015. Now, wouldn’t you like to get a slice from that pie?

With a grounded casino, an ordinary person’s chance of owning or even operating one is well, none. Thanks to online gaming, small business owners can now have a chance to invest in the gambling industry online without the hefty sum of putting up a grounded one. He can promote an online casino, sports book, and poker room gaming business and amass an unimaginable amount of profit.

The following are three ways in starting an online gaming business.

First is the most expensive way. This means you create and execute the gambling software for an online casino. This will cost you millions of dollars to materialize. Not to mention the many licenses you need to get approval for before you operate. However, the advantage of having it your own way, you control your gambling site, you can do whatever you want with it responsibly, and you will have the sole knowledge and right of the source code of your software.

Then there is the average or the middle of the road or run of the mill way. That is becoming a Licensee of an Online Gambling Software provider. This is the most common way of starting an online gaming business not only because it costs so much less but also it is ready to go! This is a turnkey operation where you will get the software to start with and even equipment if required. Compared to the millions you need to create and own your gambling software, licensing will cost $30,000 to $350,000 plus of course the monthly royalty to be paid to the software provider.

And lastly, the most affordable way to start an online gaming business is sub-leasing. To start you off, you would only have to shell out $5,000 to $60,000 and be responsible for the marketing stunts of the casino. You get a percentage of the profit and normally, get to share payments for the royalty dues.

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How to Start an Online Gaming Business

Gaming is one of the fastest growing industries online. It had achieved revenue of USD $8-9 billion in 2006, USD 12 Billion in 2008, and is expected to go beyond USD 15-18 billion in 2010. There are more than 2500 online casinos this time and still growing. The internet serves equal opportunity for all land-based gaming operators as well as those who do not already have a gaming business but want to start online gaming business i.e. i-Gaming or e-Casino industry and enjoy the benefits. This article provides some basic information on internet gaming industry and how you can start your own online gaming portal.

What Internet Casino or Online Gaming is? Like other online businesses this is an online gaming portal where players can place their bets online using their internet connection, play till they want to. Different online casinos might offer some different features, bonus offers, and games in their portfolios. However the most of them do offer some common and popular types of Las Vegas style games like Blackjack, Poker, Slots, Bingo, Roulette etc. some include sportsbook, lotteries and other forms on traditional gambling, too. The money can be deposited or withdrawn via various online payment methods using credit cards. The overall gaming process run through software from a main server and is closely monitored for all online activities.

The online gambling software comes with various customizable features and games. The operators can limit individual bets, daily bets and fix a payback ratio. Some of them also use Vegas Odds, especially in State of Nevada. The pay back percent can be set keeping in mind volume of the game. More payback generally translates into more winning odds for players hence more players for your casinos.

How you can start in online gaming business: the essentials to start an online gaming site include:

a) License – At first you need to obtain a gambling license from respective authority in your territory and from fields of operations to run a casino. This would cost a good amount, depending upon the prevailing rules in any state.

b) Software – You would need to have software specifically designed for the purpose, with integrated e-commerce features, payment methods and security measures. There are many software companies offering online casino software with customizable options. This might cost a good amount but provide you with full control of the site and requires no royalty-sharing with the software development company.

Some Internet Gambling Software providers also offer franchisee type of arrangements which costs much less than acquiring your own software. These companies provide with the software and even necessary equipments at a fixed cost and / or on a certain share in revenue. The fees of this type of licensing may cost anything from USD 30,000 to 1 million. The company, in turn, may provide marketing, maintenance and other support.

Another low-cost option can be to become a Sub licensee or an affiliate. This may be obtained at no initial investment or may cost something up to USD 60,000. In this type of arrangements the sublicense has to put in efforts for marketing and build up its own player network.

How to promote online gambling business: what is true for all other online and offline business is true for online gaming too. That is marketing and promotion activities. You need to generate good internet traffic to your online gambling site and attract players to earn profit. Money attracts money. You can decide what and how you can promote your online gaming business, how much you can invest on monthly basis. The results might take some time to show, though.

The cost of starting your own online gaming business by obtaining exclusive license and

software may cost anything from $400,000 to $500,000. This excludes the cost of promotion. The alternate option is to contact some online gaming marketing service provider for faster and better return at reasonable c

How to Earn Money Through Online Games Business

If there is one thing always associated with computers and technology, it is games. Games have patrons of all ages. A lot of people have gotten rich from doing game-based businesses. An online games business has a lot of avenues for income. Remember that income from online gaming is not only on the provider’s side; even the players can profit from each other.

One way you can earn money from gaming is by creating your own game and marketing it online. This step is more for the technically gifted, of course. Even the simplest games can give you profit. Examples of simple games that generate profit are Lemonade Tycoon, Bejeweled and Facebook applications like Mafia Wars and FarmVille. Developers give people a taste of the games and get them hooked. When this happens, they will market the games for a small price and this is where income comes in. Of course, there are gamers who settle with the trial version of the games, and there are those who get the games illegally, but there are still those who legitimately buy them.

The above mentioned online business is, of course, only for those who have a good grip of the game development and programming. For people who are more interested in just the business aspect of it, there is still an online games business you can go for− sell bulk online games. In this sense, you will be riding on the popularity of the different games available in the market. You do not have to be the developer of the game to sell the game itself, and more importantly, you do not have to worry about marketing of the game. You can just pick up games that are currently popular, reproduce them and then sell them online for a lower price. This works best with newer games as older games tend to be already available online for free. The legitimacy of this business venture is often questioned, but without a doubt, this brings in the money.

Of all the gaming business ventures, this has to be the most interesting. This is because the business goes one between gamers themselves. A very popular online game today is World of Warcraft (WoW). It is the most famous and successful massive multiplayer online role playing game (MMORPG) to date. A phenomenon that has gone one in the WoW community is how in-transactions get paid in real money. Players pay other players for services like enchantments or dungeon runs. Accounts with high-leveled and well-developed characters are sold to the highest bidder. There are also sites where the in-game money can be exchanged for real money. This is done not only in WoW but other MMORPGs as well. If you are a good gamer, you can certainly make some money.

You can start an online games business effortlessly and at your own leisure. Because games are so multi-facted, there are so many ways to earn money from them. Choose the type of business you like best.

How to Set Up Your Online Gaming Business

Web entrepreneurs are quite often excited about starting their next new ventures. They look for opportunities which would be quick to launch and break-even. One such option is an online gaming website. Though gaming websites have been in existence for more than twenty years or even more, launching a gaming website in the new Internet era has become much simpler. Let us see how.

Turnkey casino service providers can help to set-up an online gaming business for gaming operators. They offer services which include acquiring a Gaming license, hosting the gaming server, ensuring redundant operation, Firewalls, Deposit processors and even helping operators to set-up their office. The list does not end here but we have highlighted some of the important ones. There are different licensing models which are offered by the service providers. While we are not going to elaborate much on the various models but the White Label model is a great way to start an online gaming business. The investment required for setting up an online gaming business is much less than what it used to be years earlier. Thanks to technology the cost of setting up a white label gambling business can be as less as $10, 000. With so many opportunities it is just natural that many web entrepreneurs are jumping to the gaming bandwagon and tasting success very fast. With the entire back-end operations of running the online gaming business taken care by the turnkey service provide, all that gaming portal operators need to do is to market their business. With a few hundred active players it is possible to generate decent revenue and make a profit.

As a first step towards setting up an online poker or online casino business, a due diligence is required which will help to decide on whether an online poker, online casino or a sports betting portal would make business sense. The next steps can be in the following sequence

a) Firming up the investment plans
b) Getting connected with the turnkey gaming resource provider
c) Deciding on the base location. This is critical because in many countries which include the US, online gaming is not within the laws. However in some countries like Argentina the Government encourages online gaming.
d) While the service provider goes on with the back-office set-up, firming up the marketing and promotional strategies will help to get a head-start once the portal is ready to Go-Live.
e) Launching the Portal
f) Counting the Dollars.

Well the last step is very much a part of the sequence of events when a gaming portal becomes popular. With investments coming down and a reduced ‘time to launch’ online casino and sports betting is becoming a preferred investment destination of web entrepreneurs. Larger players in the gaming industry have already made millions of dollars from this industry. It is time for others to grab a pie of this market. Turnkey gaming service providers have provided the missing link between smaller web entrepreneurs and their desire to take a plunge into the online gaming industry.

Vince Van Horn is the Vice President of Access Corp a company which

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