Advise Someone about Gambling Platform Business

[Rruchi man]

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

~

Well, having a well-experienced manager can bring potentials to the success of the gambling business, but if you think you alone is more capable enough, then why not? It's still best to become hands-on on your own business especially if you are still starting on it,

The starting stage of a business is a very important stage. If you are bringing in a manager, it could also be not to make them permanent but temporary until you are able to learn about the business from them and their experience.

finding a well-trusted manager might be rare these days most especially that money is the main concern with this type of business.

Finding a trusted manager can be difficult, but not impossible. You also do not need to trust completely; you, as the owner of the business, have to keep a very close eye on the business.

[Wexnident]

~

You obviously need the capital to start up a business. A lot more even so if it was a gambling platform. If that's all ok then start building up both the platform itself and marketing strategies/promotions for it. If you can afford it, go aggressive. An aggressive marketing strategy usually yields a lot for the short term. After that it's just your platform actually being good to retain the short term customers. No amount of marketing would make short-term users into long-term ones, it's usually just up to the quality of your services.

As for hiring, yes you can, but generally it's better for you to handle all the business related stuff early on (so you at least know wtf is going on) then when it's big enough, you can relay it to managers.

As for 2 and 4, better DYOR or interview actual gambling platform owners. Most of us here are gamblers really.

[Orpichukwu]

As for hiring, yes you can, but generally it's better for you to handle all the business related stuff early on (so you at least know wtf is going on) then when it's big enough, you can relay it to managers.

He can also hire someone and work with them as something that is just kick-starting. All the help and expertise and experience are going to help in every little way in order to avoid first-hand experience.
 
As time goes on, if the traffic and customer demand expand, then the need for more people will arise, and the owner can then focus on more technical areas that have to do with fund authorisation in order to be aware of how the business cash inflow is going.

[Nrcewker]

First of all, in order to run a gambling platform, you need to have a big bankroll. If you don’t have enough money, then it will be really hard to run the gambling platform. With a huge bankroll, you will fund the gambler’s winnings, do high-level promotions, and build high-quality games. If you have enough money, then 90% of the problem is solved. Yes, you can hire multiple people to do multiple tasks for the casino, and you can just sit back and chill. Gamblers expect best odds and a good user experience. If you are able to provide this, then you are actually good to go.

[Samlucky O]

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

Just like others have just said, you need enough capital even without being told, because you might just start your gambling platform and someone might just win a huge amount you are unable to pay and it will jopadize your reputation or career if not properly handled.

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

Though I don't have such experience but I believe you can not work alone, you will need experience people who will be supportive and Also cyber security agency that can help to secure your site from hackers and internet fraudsters who may hijack your fund.

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

It is a profitable business if you manage it properly and also try to be transparent.

[junder]

ADVICE SOMEONE READY TO ESTABLISH A GAMBLING PLATFORM BUSINESS
~snip~

considering everything is a must, there are many things to consider when building a gambling platform business because of course I think this is not a small thing that can be done by everyone. with online casinos that seem simpler but I think there are still many things to consider, especially with land-based casinos. the first thing to consider is finance, finance is the main thing to consider because it is not only to have slot machine properties or others but of course there are wins that must be paid when players win, maybe this will happen at the beginning only with in the future when the casino is running smoothly then the profit will be obtained and cover all the money that has been spent. besides that we definitely need other people who are experts in their fields to help develop the casino that is built and of course it must be paid in other words looking for people to work with their expertise.
I myself am not a casino owner, but I think this one business is indeed profitable and may even be valid in the long term, but of course everything requires a process so it is impossible to immediately profit on a large scale, when everything is done properly and correctly then the profit can be obtained.

[khiholangkang]

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

It is a profitable business if you manage it properly and also try to be transparent.

The casino business is indeed quite profitable if you have customers, just like any other business, if you have customers, of course, you will get extraordinary profits, but yes, sometimes not a few casinos go bankrupt because they lose customers or their money turnover is small, while large expenses such as paying employees and other operations, this must also be balanced with the right marketing to get a good market response.

The point is that marketing is a strength in this industry, of course security, effectiveness, efficiency of withdrawing and depositing are also important things for customer trust.

[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?

1. I think this is the hardest part of all. Where to start? A business-minded person should know the answer. Money. You will need lots of it as many gamblers will come and there will be high rollers in them.
2. Security must be strong. Let everyone know that their profiles are secured on your website and you will need to prove that. It can become a weakness if not explained well.
3. Yes. Of course, you will need people behind you and make sure they are very trusted ones.
4. Gambling is always a profitable business because the house always wins. But you will have to be careful with the people around you that might do inside jobs and create bugs that would be taken advantage by the players who are in league with the inside man.

[Hirose UK]

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 starting business, of course, money or capital is the first thing that must be prepared by everyone, it just that in building business, the capital that needs to be prepared must at least really have reserve to be on guard when several things happen in the process of building it.
Financial support or investors can be one of the main strengths in building gambling business, besides that the people who work will greatly affect the running of the gambling site and for weaknesses maybe in terms of marketing or competing because if they are not able to compete well, they will eventually go bankrupt.
And in my opinion this is the most difficult aspect, namely finding someone who can work well and can really be trusted to be responsible for working as expected, some people do stupid things that harm the company or business that has been built.
When talking about profit, it is clear that gambling is very profitable business because the turnover of money is very large and all the betting money of customers will go into the casino bankroll, this is business that is the desire of rich people because it can generate large amounts of money quickly if the casino has grown rapidly.

[Fiatless]

As for hiring, yes you can, but generally it's better for you to handle all the business related stuff early on (so you at least know wtf is going on) then when it's big enough, you can relay it to managers.

He can also hire someone and work with them as something that is just kick-starting. All the help and expertise and experience are going to help in every little way in order to avoid first-hand experience.
 
As time goes on, if the traffic and customer demand expand, then the need for more people will arise, and the owner can then focus on more technical areas that have to do with fund authorisation in order to be aware of how the business cash inflow is going.

Hiring workers will solely depend on the size of the gambling business. it is a small bet shop that can be handled by one individual, there is no need to employ more people. The owner can run the business alone to save costs. More workers will be brought on board as the business grows. But if the casino is bigger than what an individual can run, more workers can be employed. If the business owner lacks the basic skills to run the gambling platform, employing an expert who will help train the staff will also be a good option.

However, if you intend to hire people to run the business full-time because you will not be always available, there is a need to supervise them effectively. You should have a good accounting system that supports real-time transaction monitoring so you can supervise financial transactions. It will not be also out of place to have a functional CCTV system to check the surroundings.

[Hatchy]

1. What are the first things to put in place before starting?
2. What are the strength and weakness to consider with gambling platform?

I think for someone to start any business, regardless being gambling the first thing to come into your mind should be the capital to start up the business. Every new establishment must have a for hand capital, which they are willing to sacrifice for the success of the business. Then when it comes to gambling business, the second thing should be what kind of gambling services do you which to offer to your customers. Us it an online casino or a local gambling company. You r workers should then follow. Be it online or offline gambling, you might need so developers to design for you some games or the gambling algorithms so you offer. When all these have been set up you can then consider other things that can follow.

[Viscore]

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

The most important thing is budget. You need to carefully plan everything you'll need to do, from creating or buying a gambling site to marketing it in order to gain users. Everything requires money, so you should have a clear picture before starting up. The competition in the gambling industry is very tough, and you need to be competitive in order to be profitable. I've even seen some gambling sites that have been operating for years stop their operations because they couldn't cope with the competition anymore. You should be prepared for that so it doesn't happen to you.

I think you can hire an adviser who has been in the business for a long time, someone experienced enough who knows everything that is needed to run a successful casino. This would guide you on the right path. It might be costly, but you shouldn't be stingy because, typically, when the fee is high, the success rate is also high. Good luck!

[coin-investor]

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?

A feasibility study is very important. The developer should be fully aware of all the issues that will confront the platform once it's operational. It's hard to address issues once the platform is already operational, and every issue will be dealt with if they have a ready solution, and it will only happen if there is feasibility.

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

The gambling industry is highly competitive so marketing should be considered, another one is security because there are so many cheaters that could ruin the reputation of the platform

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

Yes why not as long as he had years of experience in running a casino, it's important for any business to have people with experiences especially when it comes to gambling platform, where the competition is very high.

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

The gambling industry is a multi billion industry its a business that can bring millions of dollars if a platform can positioned themselves in the top of the industry.

[peter0425]

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?

Set up a solid business plan. In this business plan everything has to be soothed out. Especially if you are planning on getting some investors or shareholders, they would want to see that you know what you are doing and that you have thought and planned for your business well.

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

Online gambling has been constantly on the rise. It is an industry I think that has constantly some audience so you are going to need to make sure you break through and stand out. Otherwise you’d be another platform on the sidelines.

On the other hand, if you do get it right it has extremely high profitability

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

Of course but you need to make sure this person is skilled and competent to be running your business. From my experience, even when you have someone in charge you still need to check what’s going on in your business. Don’t give everything to your employees and be on top of everything still.

[avp2306]

I'm not in position to answer this question but I would give my opinion base on what I see on gambling sites we found in this forum.

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

Capital you need huge money to run this kind of business. Also know your target market.

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

Marketing will be your strength upon running a casino since if you can afford to run multiple campaigns and partnership deals provably that your casino will be easily known. Weakness will be lack of marketing since its expected that nothing will happen to your casino and you are just wasting your resources since success doesn't have any guarantee with that set up.

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

To manage your casino? No, there's lots of risk doing that. Maybe what you need is an adviser which is expert in that field. Provably you can get a lot of knowledge from the advices of expert so I guess this is what you needed and not those people who will handle the whole operation of your casino.

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

For what I see to other casino succeed in this field, yes they are profitable and they are still doing good for long time.

[Tmoonz]

1. What you need most importantly to start is enough capital. With the right capital, you are one step closer to starting.
 
2. You will also need to hire someone who will help you build the casino for you with enough security to protect your new business from hackers, because if you experience exploitation as soon as you start, it will be hard for you to bounce back.
 
3. Yes, you can hire someone to take care of the business for you, but I will advise you to learn a little firsthand about how it works in order to not be completely blinded by how things are going.
 
4. Casinos are a very profitable business. I'm not talking out of experience, but based on the data available on the internet, the everyday growth and launch of new gambling sites should tell you that there is enough profit in that line of business.


Side note; your numbering is not correct.. you interchange 3 & 4

Surely, gambling sites business is very  profitable the very reason Why it is increasing on daily basis, every one can testify that about the massive increase of gambling sites or platforms if only we can take statistics from just at least 2 years back till now you be surprised at how many sites or platforms has added, the point is if there is no profits in such business it wouldn't have gained such massive increase in number, from my research a huge amount of money is always required as capital, personal, am encouraging anyone who has what it takes to start up such business.

[Davidvictorson]

1. What are the first things to put in place before starting?
You didn't state if it is a physical or online.
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?

You also didn't state if you  meant a casino or a sports betting business. Therefore I am going to give you a general business answer. First thing first is to have a business plan assuming you already have the capital. The strength is that you'll make money without spending a dime on advert if it is a physical bet shop. In my locality all you need to do is set up the shop. The people will come. The weakness is that it requires your presence or strong supervision if not your employees will play a fast one on you. I advice against hiring anyone to run the business for you. Be there and be involved.Yes, at least for physical bet shop it is profitable in my country.

[Lida93]

Everyone started by mentioning money/huge capital in the list in setting up a gambling platform business. But on that note I'll like to add that it's not just about having the huge capital in for the set up but on the other end it's important to have a different game plan unique and that differentiate your platform from already existing ones.

Because the competition of having to drag the attention of users from an already existing gambling platforms in the industry that have gained popularity and reputation to yours that is just rising in it's cradle stage takes more than just the capital for a start-up.
There should be a few practice or features in your platform that distinct you from other platforms that gamblers would prefer using yours against those others because it meets their interest that the others are lacking. All of these needs a lot of expertise hands on ground.

[Sandra_hakeem]

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

You need a website... It's left for you to hire a developer with good experience. That's definitely going to be an expensive move though.

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

It all depends on what you're aiming at; I think a not getting a license from any source/regulatory body is a weakness... Your operations and validation will be limited, thereby debarring your casino's growth. Get a license from the Curaçao gaming control board.

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

I'd definitely hire a professional and put him on pay role... It's easy to say you'd wanna manage the casino by yourself, but how do you begin? Or better still, you could learn the managerial skills before anything.

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

It's a profitable business...

[seoincorporation]

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?

First of all you need the Brand, the the ser eres, then the providers and then the lisense. And after that when you have all those elementos you need to works with security because a bug on the engine can make you lose all.

You must be in charge, but at the same time you will need to manage a team, becas you si te should providers support and that's a complex task just for 1 user.

And yes, it is a profitable business. Just look at the 1 billion business calle stake.