INTERNET CASINO AND SPORTSBOOK
What Should An Online Casino Consist Of??
1) Sports Betting: One of the most important and most overlooked forms of revenue for online gambling is SPORTS BETTING. This happens to be one of the largest dollar volumes for gambling both in Las Vegas and ON THE INTERNET. It is estimated that 45% of all gambling monies wagered online is on sports betting.
There are Sports Betting related web sites that make over USD $2 million in PROFITS each month. Three have over $1 Billion in handle each year. In February 2000, Las Vegas has admitted that online sports betting is now affecting their pockets, as the amounts gambled for the January 2000 SUPERBOWL in Las Vegas were lower than ever before. Meanwhile, on the Internet, they were higher than ever before. This happened every year since in 2001. Online Sports betting is huge in the United Kingdom and is growing rapidly in many other parts of the world.
Not all Online Gambling Software Providers offer Sports Betting. But you can always work with more than one firm if you need to piece together the casino you want. If the firm doesn't have a professional bookie to set the odds, then either a company needs to hire one or has one onboard.
2) Casino Style Games: BlackJack. Keno. Craps, Roulette, Video Poker, Slots, etc. These should be seriously considered with any internet casino. Online games come in one of three software formats: DOWNLOAD, FLASH and JAVA. While each have their advantages and disadvantages, they need to be weighed out in the end for choosing the right software provider. An article on these three formats can be read HERE. (Note that usually casino games are played WHILE the customer is waiting for a sports game to end, which the gambler may have wagered on as well).
3) Poker: Since 2002, Online Poker has emerged to become one of the largest revenue producing areas in online gaming. PartyPoker.com started the popularity by having tournaments on a cruise ship. This was covered by the Travel Channel, a popular cable network in the USA. As a result, more and more people began to play poker. More television networks were covering poker. More Online Poker businesses sprung up. It has now become part of the world culture.
4) Bingo: The demographics for this used to be elderly women in Florida. But on the internet, it is mostly women in college to their mid 40's, most financially well off. Not all firms offer Bingo, so check around. One Online Bingo firm is making over USD $ 1 million each month on bingo.
Note: Women represent more than 50% of all online gamblers. This market needs to be properly targeted.
5) Lotteries: This is a very sticky subject and at the time of this writing in its infancy stage. Lotteries are run by governments and states. They usually want to know who and what is selling their lottery tickets. In the USA for example, only 39 US states offer lotteries. All require heavy background checks, some involving the FBI. On the other hand, some nations don't care who sells a lottery ticket. It is estimated that less than 2% of all online wagers are for online lottery tickets.
6) Horse Racing: In Hong Kong, over USD $10 billion is wagered each year on Horse Racing. It also appears that the USA may allow some form of Horse Race Wagering over the internet, as California has enacted legislation to that effect. Again, this is an industry in its infancy, but one worthy of keeping a very sharp eye on. It is estimated that 5% of all online wagers are horse racing related. However, more software companies have begun to offer this.
7) Financial Wagering: This is a very new and growing sector of wagering. The premise is that one can place a wager on the day's close of the Dow Jones Industrial Average, FTSE, NIKKEI, etc. Also, there are wagers that can be placed on interest rates, individual stocks, potential mergers, etc. This type of wagering is currently extremely popular in the United Kingdom and Singapore. Most firms in this sector are making impressive profits. Again, another industry in its infancy worth keeping an eye on.
8) Skill Gaming: This industry is in its infancy. Some project it will be larger than the entire online casino market. The idea is simple: In order for a game to be defined as gambling, almost all jurisdictions requires 3 elements:
CONSIDERATION: (You pay to play)
CHANCE: (A random event, such as a roll of the dice, turn of a card)
PRIZE: (You win money for winning the game)
Think of it as a three legged stool. For something to be defined as gambling, all three elements above must exist. On two legs, the stool falls, making it not defined as gambling. In skill gaming, the argument is made that the element of "chance" is removed. This would apply to games similar to Unreal Tournament, PGA Links Golf, Battlefield, etc. The payment scheme is devised similar to poker, where players place their wagers, a fee is deducted from the pot as an administration fee and the players play for the pot itself.
9) Languages: The largest single ethnic group using the internet today is the Hispanic culture. This fact seems to surprise alot of people. The culture in the Far East is condusive to gambling, and internet casinos using languages from that region are experiencing explosive revenue growth. Having an online sportsbook and casino in various languages should increase the number of gamblers from various countries around the world. But, game selections are different in various regions of the world. For example, Mah Jong, Pai Gow and Baccarat are extremely popular in the Far East, while Blackjack and Slots are more popular in North America.
9) Wireless Wagering: Wireless and Mobile Gambling is here. In some countries it is expanding rapidly. There are a handful of companies that have the ability to process gambling on a wireless device. This type of wagering will most likely be popular for real time sporting events, such as football games and horse racing. What has also shown poluarity is poker and slots on a mobile device.
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| Last Update: October 2010
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