Do you think this is a good idea for a betting website?

Discussion in 'Chit Chat' started by quantuz, Dec 25, 2010.

  1. quantuz


    So simply put i am thinking (...rethinking) to create an online betting exchange that charges no commissions and has the highest odds online, higher than betfair. But...the rough and wild calculations for such startup aren't that bright. I other words, i have a limited budget of $10k-$15k that i can afford to invest in such a new venture - which means that even i spend all the money to advertise on google, this will be something like:

    ((15000*2)/3*100)*0.01 = 10000 = 15000 spend for advertising * 0.5 price per click / one in 3 people registers and pays * 100 dollars average amount wagered * 1%, which is my commission as a bookmaker.

    So i will be making $10000 USD for 15,000 USD invested a loss of 5000 or one thirth of my savings? Doesn't sound like a shockingly good business idea, right :)?

    Basically, even i simply spam and send free emails to hundreds of thousands of people - then again the calculation shows about $500 monthly profit out of many hours of programming, webdesign and so on. I am personally a programmer - so this will save me some money, but advertising is the hardest part + some money required for website hosting.

    Do you think is a good idea...with so many bookies online in 2011...and yes I know online betting is illegal in the states, i am refering my idea to UK, Germany, etc.

    10x and happy holidays!
  2. peleus


    I think this will have a lot of potential. But there are just to much competition around. I guess it will depend on your marketing tactic to spread the word. [​IMG]