Advise Someone about Gambling Platform Business

[Rockstarguy]

Actually, it will be useless when anyone invests money in any project in which the person or the trusted person of that investor have no knowledge even sufficient knowledge the person should not start that business. As the person can't understand the business the result may not make the person happy when it passes through bad timing.

If that's what you're worried about, then as an investor you have to be smarter to choose which project will provide profits and the investment you provide is managed by professional people in their field, such as a gambling business that is quite well-developed.

Becoming an investor in the gambling business looks very profitable if the platform has many users and good enough development, as well as a fairly good share of the proceeds and in accordance with the agreed contract.

The mistake some investors usually make is that they only think of profit  but never have an idea of the business they are about going into. Investment we don't only need to depend on the people who are working under you just because of they are professionals, their is a need to get some idea of what you are going into. When an  investor lack understanding about a particular business the people working under you can take advantage of you, and whatever mistakes that comes from those working under you will affect the investment and as an  investors you won't have any idea of where the problem is coming from.

[len01]

1. What are the first things to put in place before starting?

• Experience
• Money

Both important factors when it comes to wanting to build a gambling business. Without money and only relying on experience, surely someone will not be able to run the business because it requires a lot of money to do many things.
And vice versa, without experience and only relying on money, a gambling founder can be cheated by his employees if he does not have experience in online gambling systems.

2. What are the strength and weakness to consider with gambling platform?

The weakness in terms of online gambling business is only the inability to market the gambling platform to the public and of course a gambling business needs a lot of customer traffic to continue to grow its business to be bigger.
The great strength to cover up these weaknesses is simply by providing funds to marketing management every few months or even weeks to promote any platform advertisement to attract new customers.

3. Can you hire a person to be in charge, for the business management of the gambling platform?

In terms of building an online gambling business for the first time, it is not easy to trust others to give responsibility for developing the business. As I said before if we need experience to at least hold our own management within a few years after that see the performance of a particular person and see if the person is capable of being given the responsibility of holding the management of the business.

4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

TBH, I say this opinion based on the results of other people's business views. Although only looking at other people's businesses, we can see more deeply what a businessman needs to set up a gambling platform and it may not be entirely true, but at least the most important things we can take as a reference before setting up a profitable business.

Actually, there are still many things that must be prepared in terms of building online gambling for the first time, but what I said are only a few important factors.

[$weetne$$]

The mistake some investors usually make is that they only think of profit  but never have an idea of the business they are about going into. Investment we don't only need to depend on the people who are working under you just because of they are professionals, their is a need to get some idea of what you are going into. When an  investor lack understanding about a particular business the people working under you can take advantage of you, and whatever mistakes that comes from those working under you will affect the investment and as an  investors you won't have any idea of where the problem is coming from.

I do not think you have to know what you are investing into very well before you can invest. Investing is not you starting a business, you have to understand what a business is about then you hire people that you will be overseeing for them to work in the business but as an investor, if you know how to sight good investment opportunities when you see them, you can become a successful investor without knowing anything about the business. Some people invest in new technology without knowing anything about the technology and it becomes their biggest investment in the future. They only saw the potential of the business and invested in it. Casino is a business that you can invest into without knowing anything about the business but make sure you are investing into someone that knows what he is doing.

[michellee]

Actually, it will be useless when anyone invests money in any project in which the person or the trusted person of that investor have no knowledge even sufficient knowledge the person should not start that business. As the person can't understand the business the result may not make the person happy when it passes through bad timing.

If that's what you're worried about, then as an investor you have to be smarter to choose which project will provide profits and the investment you provide is managed by professional people in their field, such as a gambling business that is quite well-developed.

Becoming an investor in the gambling business looks very profitable if the platform has many users and good enough development, as well as a fairly good share of the proceeds and in accordance with the agreed contract.

We as investor must research before decides to invest money in the project. Without research, we will not gets the potential project and that can makes us just waste our money without making money. The investors should know how much money they will use to invest in the project so they don't lose too big money if the project is fail.

If he wants to become an investor in gambling, he must have teams that can works as the plan. He can hire some people who have skills and ability to works as a team. When we already have the good team, we can run the project but we must be careful because gambling industry competition is not easy to be the top casino.

Maybe the investor needs to make a study research to know how hard the competition and what he need to do when he finish building his casino. When everything is set, he can launch his casino and start promoting in many websites. He can also promote his site in this forum to gain benefit from his casino.

[HelliumZ]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Gambling is a popular platform but it is not popular for everyone but definitely gambling is an important platform especially for those who set up gambling establishments targeting business. However, if there is no previous experience of gambling establishment, there is a possibility of facing multiple risks when doing business, so before establishing gambling establishment, all the important obstacles must be solved and then attention should be paid to the establishment of gambling establishment.
However, if a gambling establishment can be formed in a partnership rather than forming a gambling establishment alone, the risk will be distributed among several partners. In this case, if several people take the risk than taking the risk alone, there is enough opportunity to deal with that risk.  So partnership issues must be taken care of before establishing a gambling establishment.

[gunhell16]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

There are two types of casinos: land-based and online. If your plan is to have a physical casino, that's quite a big expense, and a lot of requirements will be needed, and of course you must also have an employee to manage your casino business.

If it's an online casino, it's not that much of a hassle, although it doesn't seem like you need a lot of staff there, and you also need to submit legal documents for regulations if you want it long-term. Although the most important of all is physical or online, you must have a large capital.

[dezoel]

Gambling is a popular platform but it is not popular for everyone but definitely gambling is an important platform especially for those who set up gambling establishments targeting business. However, if there is no previous experience of gambling establishment, there is a possibility of facing multiple risks when doing business, so before establishing gambling establishment, all the important obstacles must be solved and then attention should be paid to the establishment of gambling establishment.
However, if a gambling establishment can be formed in a partnership rather than forming a gambling establishment alone, the risk will be distributed among several partners. In this case, if several people take the risk than taking the risk alone, there is enough opportunity to deal with that risk.  So partnership issues must be taken care of before establishing a gambling establishment.

Gambling is too general and I wouldn't call it a platform but it was the gambling company (specifically online) is the one that is considered as a platform. Also, I won't say that it was popular immediately especially if they are still starting.

Going back on the general term called as gambling, it is popular in a way that it was known a long time ago. So, I don't think there are people who haven't heard of it. It is just that there are people who think it is wrong and they ignored it in the best possible way. Everything in this world must have their own purpose and so as gambling.

So, you are right there when you say that gambling is important. Not only that it can bring profit and fun to those who set up or those who play, it can also provide a job opportunity for everyone. It is a crucial part of the economy but as long as it is legal and then gamblers are playing responsibly. With or without an experience there will always be risk, although indeed that the risk is bigger for the starters. They still can learn anyways.

Some obstacles can be solved at the start but there are some who can just come in the way. They still can be fixed if we are well prepared and willing. Having a business partner is cool but it also has a con and that is our profits will also be divided to them. So, we need to think twice first if what really suits for us.

[danherbias07]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

There are two types of casinos: land-based and online. If your plan is to have a physical casino, that's quite a big expense, and a lot of requirements will be needed, and of course you must also have an employee to manage your casino business.

If it's an online casino, it's not that much of a hassle, although it doesn't seem like you need a lot of staff there, and you also need to submit legal documents for regulations if you want it long-term. Although the most important of all is physical or online, you must have a large capital.

I agree. The large capital is not just for the business itself, the team, the expenses for them, and other stuff that need to be paid. Starting a business like online gambling means you must have the money if suddenly a high roller comes in and wins a bet. Paying them means building a reputation and that reputation could also help to the success of a gambling site. If that high roller will spread the word that the online casino he is playing is paying any price, then more high rollers will come in and play on the same site.
Word of mouth means a lot of things in this era of social media. They can share any positive thing that happens to them which means it's free advertisement for the gambling site including the reputation.

[Tmoonz]

Actually, it will be useless when anyone invests money in any project in which the person or the trusted person of that investor have no knowledge even sufficient knowledge the person should not start that business. As the person can't understand the business the result may not make the person happy when it passes through bad timing.

If that's what you're worried about, then as an investor you have to be smarter to choose which project will provide profits and the investment you provide is managed by professional people in their field, such as a gambling business that is quite well-developed.

There is a very great profit in gambling business among the whole business. Because gambling nature makes it almost impossible for any one to win a reasonable amount and this makes the gambling business very profitable. Emagine when you start up a gambling business maybe like $10m and people all over the World are playing gamble in your site to win, out of %100 of people that gamble a day it is possible that only 1 out of a hundred will win and each individual has the amount they have lost. Even if a person even manage to win, he end up winning peanut. So gambling is very profitable business that's why you see many signature campaign is all about gambling. The risk involved is that it can be hacked by hackers that why gambling business needs a strong security to be able to manage it for safety purpose.

Every business requires certain level of preparedness, commitment, sacrifice, good planning and budgeting and most importantly also improving or adding more value to it by ensuring good location, good business strategies, capital, Many more but few to mention, even though there is a good profit in gambling business if all the necessary rudiment that are supposed to aids achieving the intended goals and objectives are not in place definitely it meant not going to with successful business. Business should be placed where it is value, or being recognized.

[pawanjain]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

I have always wondered to start a crypto gambling site because I know it has all the potential to generate huge profits.
But we need huge capital to start with and keep the site up and running and I couldn't figure out where I would get that capital from.
So here are my thoughts based on my experience.

1. Ofcourse the initial capital is the first and foremost thing required to get started with.
We need to lay out a blueprint of the site and number of staffs required to operate the site and the costing for each service provided on the site based on which the initial capital can be set.

2. The strength is that it can generate huge profits once it takes off and weakness is that we need to get clearance for the policies and regulations to operate the gambling site in various countries.

3. It would be mandatory to hire people with various skills to operate the site.

4. Yes ofcourse it's highly profitable.

[Zigabel]

I have not done gambling business before now and cannot say exactly how it feels or look like running one but making a response from asumptious point of view I would say it a profitable business because if it's not, many persons wouldn't be venturing into it and we wouldn't be seeing the growing number of online casinos all around, they are making money off it and that's exactly why people with the required capital still choose to venture into it not minding the large numbers around already.

As for how they make their profits and things that are needed to get started, I really don't know but for sure making money of it is realizable and owners of the casinos can be sure to be in profit even if they payout often, especially when they have got huge bonuses to drag in customers.

[Oluwa-btc]

3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

Well this is quite a good idea to venture into establishing a gambling platform business and I will do well to share my own candid advise or opinion on that which is ;
First thing first,you need to take note of how you want to run the establishment and also  is to make sure the required capital to startup is sufficient enough to carry on the task,cause definitely I know very well that to startup such needs alot of capital.then  you look at for strength and weakness that includes alot strategies that would generate more funds for the business, for the weakness there may be competition between other Co business as this that will enable low patronage from customers but for the start one should understand that it's part of the business and with time it will surpass that levels.Well to hire someone to be in charge isn't a problem but you should take note of every documentary and things that's to be done there while you're away,and lastly from what I see I know for sure it's a profitable businesses but it needs time and effort to grow to some certain stages.

[SmartGold01]

I have not done gambling business before now and cannot say exactly how it feels or look like running one but making a response from asumptious point of view I would say it a profitable business because if it's not, many persons wouldn't be venturing into it and we wouldn't be seeing the growing number of online casinos all around, they are making money off it and that's exactly why people with the required capital still choose to venture into it not minding the large numbers around already.

As for how they make their profits and things that are needed to get started, I really don't know but for sure making money of it is realizable and owners of the casinos can be sure to be in profit even if they payout often, especially when they have got huge bonuses to drag in customers.

I don't think there is need for assumption towards this business because in every business there is always a gain and profit that comes from it except it wasn't properly handled and managed by the owner. Most gambling site profits from their gamblers, I mean from those who are regularly using the site to gamble and when they lose it's a profits to the casino or betting site. Then those who weren't able to maintain and sustain their site are a results of poor maintenance such as; Incapable workers, developer and lack of security and many more.

[Kavelj22]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS

The intention for creating this thread is to hear about our general opinion, suggestions or best advise we could give to someone who is ready to establish a gambling platform as a business, if we are in the same position, what will be our response toward these few questions.

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?
3. Can you hire a person to be in charge, for the business management of the gambling platform?
4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

In a topic published yesterday here in the Gambling section, someone started to establish a site containing testimonials from interviews that the site owner wanted to conduct with workers in the crypto-based gambling sector, and he came asking if anyone wanted to volunteer to conduct the interview in exchange for promoting his site. Unfortunately, all the answers advised him to abandon the idea because no one working in this sector would volunteer to reveal professional and technical secrets that might expose their systems to their competitors, in addition to the fact that there are other means available within marketing strategies, meaning that no one from the team of any casino company needs to conduct an informal interview with an unofficial party. On the same basis, the op question here will find very general answers that any businessman can provide without going into important details. All the information can be found by a short search on the Internet or by asking one of the artificial intelligence bots. As for the precise information, it will not be available unless you yourself work in one of these companies and are in direct contact with the activity of all departments.

I expect that any person working in any company that provides gambling entertainment services forces its employees to comply with something like a code of honor that forces them not to disclose any of the company’s secrets or details of the system’s work even after they leave, and this explains why they all refrain from entering into discussions on social media or engaging in debates of any kind.

[Pandu Geddon]

I don't think there is need for assumption towards this business because in every business there is always a gain and profit that comes from it except it wasn't properly handled and managed by the owner. Most gambling site profits from their gamblers, I mean from those who are regularly using the site to gamble and when they lose it's a profits to the casino or betting site. Then those who weren't able to maintain and sustain their site are a results of poor maintenance such as; Incapable workers, developer and lack of security and many more.

However, in running a business, we not only need to plan it well at the beginning. but also have to pay attention to how we manage and maintain the platform that we run. maybe, someone who has capital and is ready to run his business, but when he doesn't have the right people to do good periodic maintenance and development, it can be an obstacle for a newly started business to be destroyed soon.
The gambling business is always profitable for those who really understand how to manage it. not just looking at the profits that can be obtained. but how to manage loyal gamblers to continue playing on their site must also be considered.

[peter0425]

I have not done gambling business before now and cannot say exactly how it feels or look like running one but making a response from asumptious point of view I would say it a profitable business because if it's not, many persons wouldn't be venturing into it and we wouldn't be seeing the growing number of online casinos all around, they are making money off it and that's exactly why people with the required capital still choose to venture into it not minding the large numbers around already.

As for how they make their profits and things that are needed to get started, I really don't know but for sure making money of it is realizable and owners of the casinos can be sure to be in profit even if they payout often, especially when they have got huge bonuses to drag in customers.

I don't think there is need for assumption towards this business because in every business there is always a gain and profit that comes from it except it wasn't properly handled and managed by the owner.

To be fair, not all businesses that are managed properly will always result in good profit. Maybe you just won’t be losing too much which is good however if the nature of your chosen business is really not that good to start with then don’t expect massive profits.

For example, if you choose a business that almost no one is interested in or not that in demand in your location then there’s really not much profit to look forward to isn’t there? With casinos especially online ones there’s always going to be a target market. There’s so many different kinds of gambling events that it’s almost certain that a lot of people can play in these events. Considering that it’s online too meaning your reach is wider and more accessible.

[SmartGold01]

I don't think there is need for assumption towards this business because in every business there is always a gain and profit that comes from it except it wasn't properly handled and managed by the owner. Most gambling site profits from their gamblers, I mean from those who are regularly using the site to gamble and when they lose it's a profits to the casino or betting site. Then those who weren't able to maintain and sustain their site are a results of poor maintenance such as; Incapable workers, developer and lack of security and many more.

However, in running a business, we not only need to plan it well at the beginning. but also have to pay attention to how we manage and maintain the platform that we run. maybe, someone who has capital and is ready to run his business, but when he doesn't have the right people to do good periodic maintenance and development, it can be an obstacle for a newly started business to be destroyed soon.
The gambling business is always profitable for those who really understand how to manage it. not just looking at the profits that can be obtained. but how to manage loyal gamblers to continue playing on their site must also be considered.

This brings us how selling points like what to do to keep gamblers gambling in that site than just running away, that is why you have seen lot
 of gambling sites running some of free offers such as, deposit bonus, free spin, referral program and hosting contest such; as bitcoin price prediction or meeting up with weekly bonuses when a gambler wager's upto the required amounts. All these are means of attracting and sustaining the website to be active to attract gamblers and regular visitors to the site.

[OgNasty]

Gambling businesses are so extremely difficult to build for some many reasons. You have hackers trying to rob you, regulators trying to shut you down, players trying to cheat you, developers building in back doors, extortionists trying to blackmail you… I think most people would be far better off being an ambassador for an existing gambling business than trying to start fresh, but that doesn’t mean it is impossible.

[rachael9385]

Gambling businesses are so extremely difficult to build for some many reasons. You have hackers trying to rob you, regulators trying to shut you down, players trying to cheat you, developers building in back doors, extortionists trying to blackmail you… I think most people would be far better off being an ambassador for an existing gambling business than trying to start fresh, but that doesn’t mean it is impossible.

Absolutely right, gambling business is like a CEX business, you are not safe, everyday you must be vigilant so that you won't get robbed by hackers, and as long as you have workers in your company you are not free from robbers because the mindset of every workers is not the same. However, casino business is not an easy business to handle, you must have a lot of money and it's not everytime that you will be in profits, sometimes you lose little but many times you win big.

[EarnOnVictor]

1. What are the first things to put in place before starting?

The feasibility study is the most crucial thing to consider at this stage and it will help you factor all conditions and expenses to let you know whether or not you are adequate for it yet.

2. What are the strength and weakness to consider with gambling platform?

Don't give yourself a headache about the platform, money is the strength here, so long as you have enough of it, nothing should be able to hinder you and you can bring in the best experts around the world. However, the weakness is the lack of funding capital.

3. Can you hire a person to be in charge, for the business management of the gambling platform?

Why not? It depends on how you want to run your business, it's not all the Chairmen/Presidents, and even the CEO of companies that engage in their day-to-day activities. Just ensure you employ qualified hands.

4. Is it a profitable business base on your own experience or from what you have seen others achieved from establishing one?

A casino business is a profitable business, look around you, they can't be that many if they are not profitable. But the warning is that you have to know the game of the business you are entering to avoid regrets.