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How to Start Betting Site?

Discussion in 'Business & Tax Advice' started by K.H.R, Nov 14, 2016.

  1. K.H.R

    K.H.R Jr. VIP Jr. VIP

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    Hello,

    I need suggestion to start Betting Site. One of my client wanna run Sports Betting Site.

    Please Advice Me.

    1. What type of Licence/ Document Needed?
    2. Preferable Payment Processor is Skrill.
    3. Require Investment?

    So How to Manage Documents, Handle Payment Process?

    Thanks
     
  2. jamil

    jamil Newbie

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    It sounds like you are in way over your head here buddy.
    There are thousands of seasoned and well funded betting sites all over the web, created by people with tons of experience in that game - how do you expect to be able to tap into that market unless you have tons of cash behind you?

    as for licensing, nobody can advise you on that unless you provide details of where you reside and the laws in your jurisdiction. That doesn't mean you can't setup a company in another jurisdiction as a lot of gaming sites have their main company address in off shore places. Just check some gaming sites and see which country they are Registered in - they usually all have this info and also usually state where they are licensed. That will give you some steps towards any licensing and residency information. Usually these type of licenses and setup are very expensive as well, and you would need some sound legal advice too (so legal fees added in to it for $$$$ amount).

    That doesn't mean it's impossible to do - never say never, right? :) - BUT .. you don't provide any information about your knowledge/experience in this game, whether it will be your own site/business or whether you're just helping out a client; how much funds are in the pot etc. All these things are needed for better advice.
     
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  3. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    I second iamil... seems you just got an idea and now you want to learn how it can be setup without to know anything about this industry!

    If you have a few hundred thousands available in $$ then you may consult some of the specialists for these setups.

    To start with I will give some starting point: Look into Malta, Curacao and Ukraine! So you will use Google an search for online gambling software and find out who are the market leaders are.

    Now you need cash and lots of it as already mentioned. Oh I forgot, be prepared to travel around to different placed you can't sit behind your screen with a Credit Card, Cola and a Bic Mac.
     
  4. Potatoe

    Potatoe Registered Member

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    For sure, you need tons of money just to set up online betting website... But you'll need a lot more to promote it and get an audience, because this market is dominated by big companies nowadays with a lot of cash.
     
  5. BadGrammar

    BadGrammar Registered Member

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    Funny thing,
    I had a client who started a run of the mill site, the VERY BARE min that he had to put up was like in the ballpark of $30,000 and that was bare. It's very cut throat. Many people have buyers remorse, amongst a plethora of other types of disputes. The balance between a really good bet and who you are partnered up with these bets is contingent on who you are willing to deal with.

    Might want to listen to the few guys above and get back to your drawing board.
     
  6. jimbobo2779

    jimbobo2779 Jr. VIP Jr. VIP

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    Definitely you need to consult professionals about this. You will need legal stuff to be figured out and this isn't really the best place to be getting advice on these matters.