There is a wealth of information on the internet about wagering and gambling. How to make a wagering website, what do people bet on, is a gambling exchange better than a sports book or casino website, or do users prefer gambling online rather than gambling not online? What is lacking in many of these restbet posts is not the information they provide on starting a wagering website, but rather exactly where to start. So how do you start, you ask? and how do you start? Would you require funding when thinking of starting your own wagering website? Are there legal pitfalls in running an online sports book or casino wagering website?
Asking these questions is only a tip of the iceberg in knowing exactly what you are getting yourself into in building a gambling exchange or any of the other wagering websites, but knowing the answers will better your chance or possibilities in building a successful online wagering site. So how do you start? You can search and search around the world wide web and gather all the information (highly recommended) on starting your own casino, building a proper gambling exchange, or on providing a fair online sports book atmosphere to your users, but knowing exactly how to use this information is get into running your outfit.
Before we get into how to use the information you gather properly, you may want to visit some of these places if you have not already done so: wagering boards, casino pages, sports website, news pages on wagering, pages on the “internet wagering regulation act” and how it will affect your online website, laws overseeing wagering and paying close awareness of the dates the country each specific information concerns and so on.
By now you must be thinking this is a bit to extreme. But ask yourself this: do you know what each gambler want, do you know what will make them use your site over the next Joe website. Simply put you need to know the things that will drive ad servers, sponsors to your site (funding) and most notably what will drive users to your site. You can have the best house on the block but if not one knows about your house or you, well you get the picture.
If you have visited the suggested headings in the list above and read up a bit more on wagering and the laws overseeing online sports book, casinos, poker rooms and gambling exchanges and still wish to continue then study my friend, you have gotten over the first hurdle. Now that we have you thinking beyond your box and have a better understanding on what’s in store for you lets tackle the first and most important question you would first need answered “Is wagering legal”.
Now this is the most important because if you are thinking of completing or building a wagering website in a country, city, state, state, town, what ever it may be and its not legal. Like monopoly you will be fined or worst you will go with the imprisonment. Sorry boys and girls but we need to make one thing clear here being online business doesn’t mean a thing to the government and the authorities. You will need to register a business or acquire a business driver’s license (not the same as a wagering license), you will need hosting and you will have to have a bank account to hold the money generated from your sports book, gambling exchange, poker or casino website. So finding out if wagering is legal where will be running your business is really important.
To give you a better picture of things 9/10 planning to run a wagering website have had to opt for an ocean going operation. Why you ask? Well that obvious of course. In places like Costa Rica there are laws in place for wagering, but there are no law against online wagering neither is there a need for a wagering driver’s license (more on wagering driver’s license later), but you will again want to do your research, if you are intent on building a sports book or any of the other wagering websites, prepare yourself to take root information. Here is Tip #1 – Speak to a lawyer (a reputable one if you can) they will shed a lot of light on your situation and point you in the right direction.
So this brings us to your next question, licensing, and no its not your drivers driver’s license. A wagering driver’s license is required to run a gambling exchange, sports book, casino, poker or any other wagering website most of the time but not always. This is why again you will need to do your research. But you know what they say, when in doubt get one. That was a joke Joe. If you are really unsure speak to that lawyer friend that you chatted to in tip #1 about this and any other documents you may need to complete this process, ask your local wagering or gaming authorities/associations in the jurisdiction where you want to run your online wagering website for advise. So remember a wagering driver’s license is recommended but may not be required. Tip #2 Visit the local wagering authorities.
By now you should have gathered enough information to get you on the right course and keep you out of imprisonment or worst a state penitentiary.
Let us touch on a few more key areas on running your own wagering website. You will need some (the more the better) research and marketing to be done. But haven’t you already gathered enough of your family research? No Joe. That was just information gathering, getting your feet wet, getting to know how the industry thinks. Don’t assume anything. There are rules to every game, and yes there are rules to running an online business and especially a sports book, gambling exchange, poker room or casino. Even though you know a little about building a website, the rules and strategies change for each business, and you will definitely need to know about these rules if you are even daydreaming of becoming successful in the online gaming and wagering industry. This doesn’t mean visiting all those boards and readings were for nothing, they will definitely help when you are ready to run your advertising and marketing campaign, you will be more than glad that you did.
If you have not already done a business and/or marketing plan this will most likely lead to the development of one. Getting to know your target market, trends, location, gender, users’ habits, wants and dislikes etc will all help you to become better aware of your strategies and help out with your success. So hire a respectable marketing company or speak with a friend or someone in the marketing field that can shed a bit more light on your exact situation and point you in a better direction. You don’t want to find out the hard way that the market which you were targeting does not care much for wagering. Tip #3 Get proper research done.
This brings us to your next specialized niche “staff or team”. From your information gathering and research you must have realized that ever if you may want to make this a one man show you will need a team or some sort of staff. Now a team does not mean you have to hire on a full time staff. Even big time leaders like Microsof company, IBM, Logitech contracts out from time to time. It just means you will need a little more than just yourself in certain areas. Even if you know the wagering world it would be wise to contract some professionals in key areas (even if its for a little while) to show you some hidden places you have not yet covered. You would definitely have to have a technical someone or a development company that will be able to handle any problems you may encounter, updates you may need for your website, programming you might require, designs you may want to give you that look and feel to line you apart from your rivals etc. You will most likely have to have a bookie, bookmaker, (maybe more than one) who knows about bookmaking to line, update, prepare events, lines and possibilities on your sports book, casino, gambling exchange or poker website. So a team or individual staff may possibly be a must, but can be inexpensive if you plan properly and consider contracting. Tip #4 Put together a proper team.
Now we’ve touched a bit on your website, but what are the website or software will you require. The next on our list will be Software. First ask yourself what are the wagering website will this be; A full Casino, poker, Gambling Exchange, sports book or in addition to this why not all? This is where your research and information gathering is needed, review ask questions, speak to your lawyer, and make a solid decision. What are the risk factors, who are my competitors, where do you get my line passes from? Those are all questions which will have been included in your research and answered by now.
After that is settled it is now time to choose a development company that concentrates on online gaming (more specific online gambling). Most if not all would already have products readily available that were tested and will usually do modifications to fit your needs, it is usually easier on the wallet than having a website developed and put together from beginning to end. Software can range in prices, often pay between EUR 10, 000 EUR to EUR 60, 000 EUR. Some places of interest may be: Playtech (Rated for their Casino software), E-Prompt C’s BetMore – BetMore Software (Rated for its gambling exchange & sports book software), Microgaming (Rated for their poker software). Tip #5 Get good software.