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Gaming betting? Yes or No?

Discussion in 'New Markets' started by xlcrash, Oct 10, 2014.

  1. xlcrash

    xlcrash Senior Member

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    Hi guys! You probably all heard about e-sports betting. I would like to start a website with e-sports betting and would like to hear from you what you think!?? Its a huge investment but I think it has a bright future... Site will have and place for affiliates :)

    Thank you
     
  2. LostConnection

    LostConnection Senior Member

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    So you wish to start a site where people can bet on the Call of Duty tournaments, Counter-Strike tournaments, EGL tournaments, Twitch(?) scrimmages and stuff?

    That will require a lot of time and money to be put into it. Might payoff nicely, but the effort to get there is huge. And don't forget to consult lawyers when starting a company like this. There are some special laws regarding gambling out there.
     
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  3. Sythix

    Sythix Jr. VIP Jr. VIP Premium Member

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    The only problems I see is the legal hurdles (although this is a great idea.. Microsoft or Sony could shut you down in a heartbeat if they wanted). And also knowing the API and coding to really be able to tract data from the gaming servers, which I doubt you would be able to do unless you were a super hacker or worked on the inside.

    On the brightside, there have been a lot of people who started illegal copyright infringed businesses then caught the attention of the holders who have signed deals with them, or bought the technology from them.

    However this sounds a lot like xbox pro gaming network.. just with gambling.

    I think you would need a gaming license (for gambling, I mean), and I don't believe those are cheap.

    You might get away with doing it with cryptocurrencies though. Just an idea... probably a million dollar idea right there, but I'm too lazy to invest or do it myself anyway. So good luck.
     
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  4. xlcrash

    xlcrash Senior Member

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    Yeah, i think it is a good idea. I also checked some legal issues so most important question for me here is: does this idea have good potential? Many customers? Affiliates? Etc... And yes, the bets would be on games like call of duty (tournaments) etc... thanks guys for your thoughts
     
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  5. LostConnection

    LostConnection Senior Member

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    Potential? Definitely.

    Risk? Definitely.

    Next step? Consult a lawyer. See if this is even a sensible idea to pursuit.
     
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  6. Sythix

    Sythix Jr. VIP Jr. VIP Premium Member

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    You never know until you try.

    You could keep it simple and simply have a forum/discussion group and be the middle man for betting. I recommend going crypto. I think doing it this way, would keep you out of legal trouble from both sides. Because legally, bitcoins etc is like playing for monopoly money, it's not illegal (yet). A lot of businesses make huge money just for being the "middle man", so to speak. A lot of the services provided on BHW is pretty much that.
     
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  7. Sunday Lunch

    Sunday Lunch Junior Member

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    I agree with the first part of what Sythix says. By positioning yourself as a "Betfair" type bookmaker you eliminate several pain in the arses including being stitched up when a game is fixed and having to figure out odds on multiple tournaments etc. You make your money regardless of the result as a middleman instead of trying to figure out your book constantly to make your margin. Added to this, if you are the only market maker in this field you would have no one to hedge large bets off to.

    The second part of what he says I disagree with. You would be an absolute nobody in the industry and even if you were turning over 9 figures you could still find yourself getting tugged at JFK by the FBI for breaking US laws.

    It is a fantastic idea, however there is a cost of entry in doing it the right way and a lower cost of entry of doing it the cheap way. You end up paying somehow whenever you take the cheap route.


     
  8. everythingred

    everythingred Jr. VIP Jr. VIP Premium Member

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    Part of the start-up costs is getting a consultation with a specialized lawyer in the field. If you have money to do that, that's the step you take, otherwise don't take a step at all. Next is developing an unhackable and intuitive website. After that it's money for promotion and brand building. It's a lot of money to invest.
     
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  9. LityUM

    LityUM Junior Member

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    Betting is a difficult keywords and a risky one I think that it will be hard to rank for this, but usually the good challenges are the one that worth more, so, good luck!
     
  10. EpicApps

    EpicApps Junior Member

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    Check to see if its considered to be a "game of skill", if so you should be okay but check with a lawyer to be sure. I'm having a fantasy sports betting site built and its legal in the U.S. because its a skill game, not a game of chance.
     
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  11. xlcrash

    xlcrash Senior Member

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    Thank you all guys... Its a "game of skill" so betting on that is allowed as far as I know...
     
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  12. SlapDash

    SlapDash Newbie

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    I used to be heavily into arbitrage betting and still have at least a half-open eye on the market. You're going up against some gianormous sports books that already take action on esports. You gotta beat Bet365's marketing and Pinnacle's 5% juice.

    Fixing esports events probably has an even brighter future... ;)
     
  13. Triplescan

    Triplescan Junior Member

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    Bet365 is already doing the e-sports betting gig so you'll have to be pretty good to outrank it but if you know of any e-sport tournaments that take place in your area/town maybe you can make a site targeted to that. The people who want to bet on specifically games in their area can do that on your website, but this could not come off as successful as you might want. Anyway, e-sports are continually developing field so maybe another kind of niche website regarding these competitions could also be a good idea.
     
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  14. xlcrash

    xlcrash Senior Member

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    Thank you guys ��
     
  15. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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    you need really big budget for this + all legal formalities + High Comp + Risk + Liquidity etc If i am at your place i will think of something easy with good inocme opportunity.
     
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  16. EpicApps

    EpicApps Junior Member

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    you may want to read this http://en.wikipedia.org/wiki/Unlawful_Internet_Gambling_Enforcement_Act_of_2006 and then check with a good lawyer. You could also do a fantasy sports twist on it to keep it safe. You probably want to look into fantasy golf or fantasy mma as a model as both sports are mainly for individual athletes but the sites that offer allow you to draft a "team" that earns points based on certain stats, actions or other live game events.

    but yeah its very costly to get started, at least for my niche which is kinda like what you want to do. also you should read about how sports books works and understand stuff like "overlay" good luck, feel free to hit me up.
     
  17. xlcrash

    xlcrash Senior Member

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    Thanks a lot... I will for sure need more opinions after I start my new project
     
  18. virejulke

    virejulke Newbie

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    Let me know if you need legal help or anonymous company established for your purpose :)
     
  19. didiano

    didiano Registered Member

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    I'm a part of a team that is currently brewing something up (same idea, we've been working on it for about two months now). PM me if you are interested in JV/affiliating.
     
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  20. MillionsMercury

    MillionsMercury Newbie

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    I think this has a lot of potential. I know that I would sign up for it. The cost to set this up would be pretty high though. There are a lot of legal issues in the US that you would need to deal with but if you can get through that and have the capital to get this going, then I think this has a lot of potential to be successful and make some good money. Don't try to go around the legal stuff though. This is something that seems like a lot of people would go after you for money if you do anything illegal.