Did you know online gambling business is at present one of the quickest growing business categories in the world? The acceptance of online gaming is increasing rapidly and this year has seen considerable growth in Europe and Asia. In China and Malaysia, there are two times as many online gamers and there is Internet shoppers. Around 43% of Chinese Internet users play childish games online, while just 16% record that they use the internet.
online casino in Malaysia
Profits in online gaming business rose from only hundreds of dollars million to over $2 billion in 1999! Simply by year 2010, it is estimated that online gaming industry will top over sixteen billion dollars in revenues! London-based Merrill Lynch analyst Andrew Burnett states online gambling could make more than $150 billion dollars in revenues by 2015.
Until recently small business people had no chance of engaging in the gambling industry, because of huge capital investments, gaming license purchases and legal red video tape. The internet eliminated all the obstacles. You can now own and promote your own internet casino, sportsbook and multiplayer poker site gaming business and create revenues you’ve only dreamed about.
There are 3 ways to get started on an online gaming business:
1) Many Expensive – Design and implement all gambling software for an online online casino, sportsbook and multiplayer holdem poker site which could cost you millions of US Dollars. You will also need to get a gaming permit to run your web gaming business, which requires approval from most government authorities. However, you will have full charge of your gaming 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 Application Provider. This is a far less expensive option to start out an online playing business and you will receive all the playing software or even the equipment necessary. It is also the most used option for both qualified land-based establishments as well as entrepreneurs. Costs range from $30, 500 to $350, 000. The average licensing fees are about $150, 000 (this usually includes marketing costs). In many instances a royalty is paid to the gaming software provider as a percentage of the every month “take” or “drop” (gross profit). Usually the casino software provider has repayment processing (merchant account providers) already create for a fully turnkey operation.
3) Most Affordable – Get a Sublicensee of an existing Licensee. This is the least expensive option to get started on an online gambling business. Costs range from $5, 000 to $60, 1000. The sublicensee is in charge of all the marketing and receives a smaller ratio than a full licensee (2), because royalties paid to the licensee are much higher.
To legitimately operate internet gambling businesses, online casino and poker site owners turn to full sovereign coin governments in countries that permit online gambling and duly issue licenses for gambling operations. The internet casinos and poker portal are registered as offshore gambling functions and in turn, the individual countries gain considerable certification fees and tax-generated earnings.