Anyone onto online casino?

Hi, recently I've got a friend who is keen to do something with online casino. He's asking for my advise but I'm not sure about the returns and if its really worth going into. I'm sure the cost of it would be high as well. What are you take on this? I mean is it worth going into it?

 

I like casino much, but we must have good skills to play, it is not so easy to win. we have to learn tricks and cheats to win.

 

I assume you mean running an online casino, rather than using one.

Firstly, if you are based in the United States of America -- or have any intention of ever going there, even just to change planes -- forget the whole idea. You are highly likely to be arrested, World Trade Organisation rulings notwithstanding.

If that doesn't put you off, you'll want to base your site in a 'respectable' jurdistiction, so as to give your players confidence that the site is legit, and then look at what the regulatory requirements are there.

 

Yes, im aware of that. My friend is aware of it actually. The location would be in Costa Rica, we can get the license there. Just wanted to know if its profitable enough for us to take this step.

 

If you run it well and have enough marketing cash yes you can make a lots of money, it is going to take time and lots and lots of marketing money. There isn't anything as an online casino license in Costa Rica so do not get scammed, you only need a Sociedad Anonima (SA), a office with the proper permit and that is it. I repeat there isn't any online gaming license in Costa Rica, whoever is offering you that is trying to scam you! Don't buy anything from anybody offering you an online casino license... If you are going to buy a physical casino license it is a completely different thing, but to run it online as long as you do not have customers from Costa Rica you wont have any problems locally, just remember to never go back to the States or you'll be in deep deep troubles. Send me a PM if you need more info.

 

are you guys serious about the us? once you start an online casino you are a fugitive in the US? even if you never set foot in the us? Holy crap!.

 

I know -- it sounds like the sort of hyperbole and exaggeration that people are prone to in chat forums. But, in this case, it's absolutely true. See, for example, the wikipedia entries on David Carruthers or the Safe Port Act.

 

OC market is saturated

 

It is... that is why you need lots of marketing cash and if you manage to get a good merchant account that accepts US player it is a "good" moment to get into the business (if you accept the legal risks) since most of the big names in the industry dropped US customers.

 

As they say, "the house always wins" - it's aways unfair odds online or offline!!

 

I thought about doing this some point last year with my ex business partner.

 

This seems such a huge task to undertake. I could see you pumping loads of cash into it and getting nowhere as there are so many big established companies already at it.

 

Yes, it does takes quite a large investment. Thats why i'm helping my friend to do some online survey to see what you guys think about it. Its HUGE profit and there seems to be a market for it. But im not too sure if it will work or how to go about competing with the giants.

 

You need a niche -- as you say, you'll probably never be able to beat the large general on-line casinos. Quite what niche would work for an on-line casino I have no idea.

 

Probably poker / something unique like Mahjong.
Yupz, something to research on....

 

Have you guys built the software already? ... Also, like someone mentioned above, there is no casino license in Costa Rica so someone might be trying to scam you..