How do you become an online sportsbook?

BetUs, BetJamaica, BetThis, BetThat ....

How much money is needed to be/back the book?

What are the legal issues ... does your home base need to be in another country ...

Does it just come down to marketing?

How much does a nice website cost?

 

You technically need zero dollars.

You must be off-shore USA.

Marketing is THE key.

A website is cheap, few hundred dollars.


If you are a scam operation, you will be outted in no time.

You will need hella-funding. You cannot afford to turn down any bet.................

A good website will cost at least $100,000, and if you add all the bells and whistles like casino games and poker it could easily be $1,000,000.  And that is just for the programming.  You are also looking at $50,000+ for server hardware. 

i know that golden goose is way off.

i was thinking ... 15,000 for a site. 100,000 or 1,000,000 with all of the bells and whistles seems a bit steep. but could be true? ... 15k for a site ... 50k in marketing .... 150k to back it ... seems possible.

i know there are some covers member that are in the know on this subject. can someone break it down for me a bit?

$2,000,000 at least IMO.  Before moving offshore and going down that road I'd stay put and do PPH business first to get your feet wet.  Hell of a lot cheaper.

PPH business? i guess that's what google is for.

thanks for your opinion my friend.

I would actually be interested myself in knowing what it costs to start a online sportsbook.  You would though definetly need to move offshore to run this.  Let us know any info you find out.

Those numbers are way guys.  I would just rent the server farm till things started cranking up. 

The expense is having your bankroll to start up for advertising and such. There are so many off the shelf packages you can white label for sports books, but you trade off cheap starting cost for not controlling your whole operation.

Key thing is marketing and how to be different from all the other books.....Hey, here is a free tip for all interested.  Great lines, many choices and fast payouts and lay off the bonus'.

I think this could work.......Greek.......Pinnacle.......5Dimes.......Diamond.........Bookmaker....Betjam....

So are you saying if you live outside the US you can start a website advertising yourself as an online sportsbook and as long as you have the funds you will be good to get started?  If that is all it probaly would be worth a shot trying running an online book.

Worst case scenario.. you show you can deliver high volume and have money, you could probably buy a skin on a solid book... of course they take a cut but they pay basically all the fees and maintenance but yet its your promotions etc and you make a good chunk of revshare on all your players. I think buying a skin is the way to go to start.

What exactly do you mean buy a skin?  Do I need to have my own players or can I take on some of the accts that they already have??

Sure, bud just have a good bit of cash for startup cost and first year or two losses. Not sure how the paying off of officials and slush funds you will need in the other countries though.

You are allowed to have these sites in other countries legally.  The thing is though you need the US market.  Almost impossible to know true startup cost for this business.

I wouldn't have a penny less than $200,000 to startup and that would be on the cheap. You would need low wagering limits to start out. 

One of my local has some site up where I just login and make bets and payup or collect weekly.  That cheapass definitely didn't spend no 25 000.  Have the platform can't be too hard to put it anywhere you want. 

I dunno how accurate this is but take a lookski.

u need 2 find out hoe these deals work thru your local book, cause, I place my action w him, but dont put up any $ up front, its credit not cash upfront & it is w 1 of the most reputable & Largest  offshore books out there, these offshore books Definitely work some kind of credit deals, cause I know a lot of his players & there is no way he had 7 figures 2 put up front, no way he had over a million upfront. 

  

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By "skin" I would assume you mean you take on the look and maintenance of an already established book.  But then dress it up with different colors, and logos... and poof you have a new website without the constant maintenance and updating of lines because it's all done behind the scenes.

Think what Bookmaker is to betCRIS.

thanks for the help guys. a lot of good info.

i think this is possible.

i would want my site to look like clickngamble or sportsides ...

not sure if any of you are familiar with these books but they're very easy to manage for the book and very easy to bet for the gambler.

blows my mind that it really costs that much for a nice site. just another hurdle.

 

covers, sorry for being in the wrong section and thank you for letting us have this talk ...

There are specialized white label sportsbook providers that will just offer the software and services. Specialized companies end up costing you less as you don't have to pay for your own servers, software, hire staff or pay for feeds (which can be quite expensive, BetRadar charges around 40K per month for instance)