Did you know that online gambling business is currently one of many fastest growing business categories in the world? The popularity of online gaming is increasing rapidly and this season has seen significant growth in Europe and Asia. In China and Malaysia, you can find twice as many online gamers as you can find Internet shoppers. Around 43% of Chinese Internet users play games online, while just 16% report which they shop online.
Revenues in online gaming business rose from only $800 million to over $2 billion in 1999! By year 2010, it’s estimated that online gambling industry will top over $16 billion in revenues! London-based Merrill Lynch analyst Andrew Burnett says online gambling could generate significantly more than $150 billion in revenues by 2015.
Until recently small entrepreneurs had no potential for stepping into the gambling industry, as a result of huge capital investments, gaming license acquisitions gclub and legal red tape. The web eliminated all of the obstacles. It’s simple to own and promote your own personal online casino, sportsbook and multiplayer poker room gaming business and generate revenues you’ve only dreamt about.
You will find 3 ways to begin an on the web gaming business:
1) Most Expensive – Design and implement all gambling software for an on the web casino, sportsbook and multiplayer poker room which may set you back an incredible number of US Dollars. You will even need to acquire a gaming license to run your online gaming business, which requires approval from most governments. However, you can have full control of one’s gambling site, and full understanding of the foundation code of one’s gambling software. Additionally, no royalties are paid out to a gambling software development company.
2) Average – Turn into a Licensee of an Online Gambling Software Provider. This is a far less costly option to begin an on the web gambling business and you’ll receive all of the gambling software and sometimes even the apparatus necessary. It can also be the most popular selection for both licensed land-based establishments as well as entrepreneurs. Costs range between $30,000 to $350,000. The average licensing fees remain $150,000 (this usually includes marketing costs). Typically a royalty is paid to the gambling software provider as a share of the monthly “take” or “drop” (gross profit). Usually the gambling software provider has payment processing (merchant account providers) already setup for an entirely turnkey operation.
3) Most Affordable – Turn into a Sublicensee of an existing Licensee. This is the most inexpensive option to begin an on the web gambling business. Costs range between $5,000 to $60,000. The sublicensee is responsible for all the marketing and receives an inferior percentage when compared to a full licensee (2), because royalties paid to the licensee are much higher.
To legally operate online gambling businesses, online casino and poker room owners turn to sovereign governments in countries that permit online gambling and duly issue licenses for gambling operations. The casinos and poker rooms are registered as offshore gambling operations and subsequently, the respective countries gain significant licensing fees and tax-generated revenues.
As Internet use spreads across the globe, online gambling business will continue to be one of most profitable online business opportunities of the 21st century.