T-Man asked:
If you are intested please let me know and the site is going to accept all countrys including usa
Veronica
If you are intested please let me know and the site is going to accept all countrys including usa
Veronica
Tags: Countrys, Online Poker, Poker Room
I thought about it, but the permit/liscence you need to operate any kind of casino or gambling operations normally start at $100,000 or more per year… at least here in Canada. Even if you do it offshore the rates are about the same.
If you could prepare a business plan convincing me how we could get a poker site going 50/50, me only contributing $30,000, then I would be interested.
This is a great idea, of course. But what do u think the start up costs would be? I would recommend building it out of the US, less legal problems, and lower rent. So I would recommend Mexico. (The small island countries rent can be expensive). So lets make a “laundry list” of the start up costs.
1. rent and deposit
2. servers (lease or buy them)
3. basic office equipment (desks, chairs, computers, faxes, copy machines, etc.)–paperclips and pens add up fast!!
4. employee costs (ITs, customer support staff, etc.)
5. travel expenses while looking for a place
6. lodging expenses while building the place
7. creating new software–big one here
8. advertising–big one here
9. setting up utilities–servers use ALOT of electricity
10. domain name registry–cheap
11. insurance–bare minimum coverage
12. permits–could be a big one here
I KNOW that I am leaving out alot of other things. I think that the start up could be a bit high, also, you need to have cash available to pay your utilities, employee, rent, insurance, ect every month. Because early on, there will be very few customers coming to your site. This is where ALOT OF ADVERTISING comes in, which is VERY expensive. Also, you have to give current online poker players to change over to your site….what makes your site better? So I would say the site would be LOSING money for the 1st year or so, until the business model starts to turn a very modest profit.
To do it right….I’d guess the start up costs to be around $250k, with another $250k in cash for operational costs while building your customer base. Remember, your employees and bills have to be paid REGARDLESS of profit or loss.
I’d love to do this, but I dont have the $250k….good luck
I am in…maybe 4 or 5 of us could get it going……..instead of 50/50…then build from their…
I think you need to do your research as far as legalities, licenses, banking, software code, etc first before you get into a search for partners.