The direct answer, yes. For $25,000 you can start.

It will cover site building, domain, security - only if you have a knowledge to do this.

It will not cover the license, salary of your team, aggressive marketing. But you can manage to solve that problem if you have persons who have the knowledge to help you.

What's left? BANKROLL. You already spend your $25,000 and let's say you have $5,000 left. That's a suicide bankroll if you ask me. Part of acquiring a license is your ability to cover the winnings. And if you think you want to be unlicensed for now, still your $5,000 is not enough to act as a bankroll. No one will use a site that is limiting their budget.