Online gambling business is currently one of the most popular businesses online. It is one of the fastest growing business categories in the whole wide world in the World Wide Web. This popularity has gain momentum throughout the years and has had significant growth in the countries within Europe and Asia. Statistics show that in China and Malaysia alone, online gamers are double in numbers compared to Internet shoppers. Only 16% accounts to Chinese people who use the Internet for shopping. On the other hand, a massive 43% of Internet users in China play games online.
Through the years, revenues from online gaming business had been explosive. Statistics show that in 1999 alone, the online gaming business grew from only $800 million to a whopping $2 billion! Future revenues are expected to become more explosive. Coming 2010, analysts and industry forecasters expect an estimated growth of $16 billion in terms of revenues! Andrew Burnett, a London based analyst of Merrill Lynch says that the online gaming business could generate at least $150 billion in terms of revenues by 2015.
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Before, small businessmen have no chance of getting into the risky gambling industry. Small entrepreneurs would have to face a lot of roadblocks and issues if they want to get into the gambling industry. They have to gain huge capital investments. They have to obtain gaming licenses. They have to face issues regarding legal red tapes. All these, however, are now things of yesterday. The Internet had eliminated the risks of all these. Anyone can now obtain and promote their online casino business. They can easily own and promote sports book and multiplayer poker rooms for gaming business. Generating revenues that one had only dreamed of is now a huge possibility.
There are three possible ways for anyone to start their very own online gaming business:
1.The Most Expensive Approach – Design for your own online gambling software and implement it on online casinos, sports books, and poker rooms for multiplayer game. This could cost you millions and millions of dollars. Aside from the million-dollar capital, you also have to acquire gaming licenses to run your gaming business online. This requires approval from the existing government. After all these, you will have full control of all your gambling websites and all the software you used to implement it. In addition, you can also cut costs because you won’t have to pay for the royalties of certain software development companies.
2.The Average Approach – If you want to be able to cut huge amount of costs, one can opt to become a licensee of a certain provider of gambling software online. You will receive all necessary software and equipment to run you business and operate your online gaming site. Cost can range from around $30,000 to $350,000. Licensing fees on the average would cost one around $150,000, which includes marketing costs. Royalty is paid to the provider of the gambling software.
3.The Most Affordable Approach – One can opt to become licensee of an existing licensee or become a sub-licensee. This would cost you around $5,000 to $60,000. The sub-licensee would be held responsible for all the marketing and would have smaller percentage returns compared to the full licensee.