Do you realize that the internet-based gambling is one of the fastest-growing business sectors across the globe? Online gambling is rising rapidly, as of this season, which has witnessed a significant increase in Europe as well as Asia. For China and Malaysia there are twice more online gamers than there are Internet consumers. About 43 percent of Chinese Internet users play games online, while only 16% say they purchase on the internet casino merchant processing.
The revenues from online gaming have increased from just $800 million, to nearly $ 2 billion by 1999! In 2010it’s expected that the industry of online gambling will reach more than $16 billion in profits! Based in London, Merrill Lynch analyst Andrew Burnett believes that online gambling will generate over $150 billion of profits in 2015.
Up until recently, small-scale entrepreneurs were not able to get into the gaming industry due to huge capital investment in the form of gaming licenses, licensing and the legal regulations. The internet removed all barriers. You now have the ability to manage and market your own sportsbook, casino and multiplayer poker room gaming company and earn the kind of revenue you’ve only imagined.
There are three methods to begin your online business in gaming:
1.) The most costly – Design and implement all gambling software needed for an online sportsbook, casino, and multiplayer poker room that could cost millions of US dollars. It is also necessary to get a gaming license for your online gaming business which requires the approval of most governments. But, you’ll have complete control over your gambling website, as well as complete knowledge of the source code for the software you use to gamble. Furthermore that there is no payment of royalties out to a software development firm.
2) Average – Become a Licensee of an Online Gambling Software Provider. This is a much cheaper option to begin an online casino business. you’ll receive all gambling software and sometimes , even the equipment required. It’s also the most sought-after choice for licensed establishments on land and entrepreneurs. Prices range from $30,000 up to $350,000. The median licensing fees are about $150,000 (this typically includes marketing expenses). The majority of times, royalty payments are made to the software provider as a proportion of the month’s “take” or “drop” (gross profits). The gambling software usually includes the ability to process payments (merchant accounts) already set up to provide an all-inclusive operation.
3.) The most affordable option is to become the Sublicensee from an already licensed. This is the cheapest way to start an online gambling company. Costs vary between $5,000 and $60,000. Sublicensees are responsible for all marketing, and is paid a lower percentage than the full licensee (2) as the royalty fees paid to the licensee are greater.
To legally run online casinos, casino and poker room operators are able to seek the approval of the sovereign governments of countries that allow online gambling to issue gambling licenses operations. Casinos and poker rooms are registered as offshore gaming operations, and the respective governments pay substantial licensing fees as well as tax-funded income.
As Internet use expands across the globe, the online gambling will remain one of the most lucrative online business opportunities in the 21st century.