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.