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.