starting a online sports book???

[dirtymike]

I came up with a great idea for online sportsbook the other day. It's not like anything currently out there. I can't get into details since I think it is that great of an idea, but it could be very very profitable if set up right and benificial to any gambler.

Anyways my questions are.... (1) How much money is needed to start something like this? (Not including payout money). I have a decent amount of money saved up and have potential investors. (2) What countries are available for this type of business? I am young and have nothing to lose. I would be willing to move anywhere to run something like this. Any other help would be appreicated.

[TwoTonTony]

I came up with a great idea for online sportsbook the other day. It's not like anything currently out there. I can't get into details since I think it is that great of an idea, but it could be very very profitable if set up right and benificial to any gambler.

Anyways my questions are.... (1) How much money is needed to start something like this? (Not including payout money). I have a decent amount of money saved up and have potential investors. (2) What countries are available for this type of business? I am young and have nothing to lose. I would be willing to move anywhere to run something like this. Any other help would be appreicated.

I would guess in the neighborhood of $50 million...Many are public companies......

[longnex]

Costa Rica and Antigua are 2 places you can start a book at.

[robby_morini]

Mike,
The regulatory environment would make it difficult, if not impossible to see this idea come to be. No US bank would touch it (if you need a loan). Bonding and insurance requirements would also be major hurdles to overcome.

Patent your idea, and sell it to some of the bigger books. It takes some time, but your odds of success would be much greater.

Good luck

[ChuckLazar]

I used to work for a large book years ago that handled Pa., WV., and Ohio. He was able to handle up to 20 million.
I would think if you were to make it available to anyone and everyone in every country, it would take a lot more than you and some investors could handle.
You would have to go to Costa Rico or Panama or some where that it is legal to run your business.
I'm not trying to be an asshole, but just think of the people you would have to pay to protect you from getting ripped off from the terrorists and thieves that live there.
Pretty scary thought.

Just open a local business in your state and get close to the officials there and pay them off, so you would go to jail. Cops love to gamble.

[BettorsChat]

I came up with a great idea for online sportsbook the other day. It's not like anything currently out there. I can't get into details since I think it is that great of an idea, but it could be very very profitable if set up right and benificial to any gambler.

Anyways my questions are.... (1) How much money is needed to start something like this? (Not including payout money). I have a decent amount of money saved up and have potential investors. (2) What countries are available for this type of business? I am young and have nothing to lose. I would be willing to move anywhere to run something like this. Any other help would be appreicated.

Best Country right now is Antigua
Minimum startup cost would be $1-$3 million not including bankroll and marketing.

[dirtymike]

I guess my best bet would be to try and patent my idea then sell it. Thanks for the info guys.