Did you know that online gambling business is currently one of the fastest growing business categories in the world? The popularity of online gaming is increasing rapidly and this year has seen significant growth in Europe and Asia. In China and Malaysia, there are twice as many online gamers as there are Internet shoppers. Around 43% of Chinese Internet users play games online, while just 16% report that they shop online.
Revenues in online gaming business rose from only $800 million to over $2 billion in 1999! By year 2010 bandar slot games
, it is estimated that online gambling industry will top over $16 billion in revenues! London-based Merrill Lynch analyst Andrew Burnett says online gambling could generate more than $150 billion in revenues by 2015.
Until recently small entrepreneurs had no chance of getting into the gambling industry, because of huge capital investments, gaming license acquisitions and legal red tape. The internet eliminated all the obstacles. You can now own and promote your own online casino, sportsbook and multiplayer poker room gaming business and generate revenues you’ve only dreamt about.
There are 3 ways to start an online gaming business:
1) Most expensive – Design and implement all gambling software for an online casino, sportsbook and multiplayer poker room which could cost you millions of US Dollars. You will also need to obtain a gaming license to run your online gaming business, which requires approval from most governments. However, you will have full control of your gambling site, and full knowledge of the source code of your gambling software. In addition, no royalties are paid out to a gambling software development company.
2) Average – Become a Licensee of an Online Gambling Software Provider. This is a far less expensive option to start an online gambling business and you will receive all the gambling software and sometimes even the equipment necessary. It is also the most popular option for both licensed land-based establishments as well as entrepreneurs. Costs range from $30, 000 to $350, 000. The average licensing fees are around $150, 000 (this usually includes marketing costs). In most cases a royalty is paid to the gambling software provider as a percentage of the monthly “take” or “drop” (gross profit). Usually the gambling software provider has payment processing (merchant account providers) already set up for a fully turnkey operation.
3) Most affordable – Become a Sublicensee of an existing Licensee. This is the least expensive option to start an online gambling business. Costs range from $5, 000 to $60, 000. The sublicensee is responsible for all the marketing and receives a smaller percentage than 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 in turn, the respective countries gain significant licensing fees and tax-generated revenues. Fair online casinos exist and of course they have counterparts which are cheats. Surprisingly both the mentioned versions can be offering the very same casino games which are provided by the very same parent software company because the places which provide the games sell a yearly license to more than just the one casino and as such stand to lose a lot of money if the games were ever proven to be anything but completely fair. In fact the rumor or gossip of the games not being fair could in some cases be enough to see that software company disappear never to be seen again.
The integrity of online casino games will always have a shadow of doubt hanging over them the same as the video poker machines in the casinos in Las vegas or Atlantic City still have their share of doubters as to whether the games are as fair as if you had been playing a regular deck of cards with a real dealer but for the majority of us it is an accepted given that the poker machines are giving us a fair-odds chance of winning.
This writer believes that if you are willing to trust the video poker machines at your local favorite gambling establishment whether that is a riverboat or Las vegas, that you should have no problem trusting the online games at least until such time as they give you a reason to not trust them. I believe they will make believers out of most people those excepted being of exceptional bad luck because if you try the online casinos a few times they are going to prove that you do get a turn in the winners seat.
There is the fact that the games are using random number generator programs to provide game results, the gold standard in the industry for providing fair-odds games served in a completely and absolutely random manner. The way a RNG works is it has a list of all the possible outcomes for that particular game which it scrolls through at thousands of times per second and the instant the player presses the spin button, or deal or roll the dice button, that RNG stops scrolling through that list of possible outcomes and whichever one it lands on is what is returned to the player for a game result.