Did you understand that online gambling business happens to be one of many fastest growing business categories on the planet? The popularity of online gaming is increasing rapidly and this season has seen significant growth in Europe and Asia. In China and Malaysia, there are two times as many online gamers as there are Internet shoppers. Around 43% of Chinese Internet users play games online, while just 16% report 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 possibility of stepping into the gambling industry, because of huge capital investments, gaming license acquisitions gclub and legal red tape. The net eliminated all of the obstacles. You can now 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 line gaming business:
1) Most Expensive – Design and implement all gambling software for an on line casino, sportsbook and multiplayer poker room which may set you back an incredible number of US Dollars. You will also need to acquire a gaming license to perform your online gaming business, which requires approval from most governments. However, you could have full control of your gambling site, and full familiarity with the foundation code of your 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 line gambling business and you’ll receive all of the gambling software and sometimes even the equipment necessary. It can be the most used option for both licensed land-based establishments in addition to entrepreneurs. Costs range from $30,000 to $350,000. The average licensing fees are about $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 create for an absolutely turnkey operation.
3) Most Affordable – Turn into a Sublicensee of a current Licensee. This is the least expensive option to begin an on line gambling business. Costs range from $5,000 to $60,000. The sublicensee is responsible for all the marketing and receives an inferior percentage than the usual 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 consequently, the respective countries gain significant licensing fees and tax-generated revenues.
As Internet use spreads across the world, online gambling business will continue to be one of all profitable online business opportunities of the 21st century.