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How Web-based casinos are beating the odds -

Posted on May 4, 2015 in Uncategorized

There are too many other choices out there for players,” he said.

Starnet, for example, posted $1.8 million in sales for its most recent quarter and showed $248,000 in profit.

Last year, Starnet’s casinos group saw 6 million hits daily; the average spent per bettor visit was $200, he said.

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Even so, Starnet, which is based in Vancouver, B.C., is careful to do all bet-processing and money transactions on servers here to guard against Canadian and U.S. Instead of having to download fat software files before playing, users spend one to three minutes installing various Java applets, he said.

Managing risks — financial, legal and security — is what the business is all about. English Harbour Casino Ltd., on the southern tip of the island, uses Deloitte Touche LLP, while Boss Casinos employs PricewaterhouseCoopers.

Boss Casinos moved into a snow-white, five-story building — one of the tallest in this capital city — after Hurricane Georges blew the roof off its former quarters in September. Nash

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Starnet wouldn’t mind being a takeover candidate for land-based casinos: “Once the smoke clears, they will look at a company like us to get them online,” Bowering said.

Each of the 14 gambling executives interviewed by Computerworld claimed to be bringing a businessman’s order to the largely untested world of Internet wagering.

And Amazon.com doesn’t have to worry about how to pay out $50,000 jackpots.

March 4, 1999

Webposted at 8:08 am EDT

“Security we take quite seriously,” Bengtsson said. Inland isn’t profitable yet.

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Nash is a Computerworld senior editor. All staff is cleared by Interpol,” he said. So far, he’s collected $6 million to $7 million in license fees from the 32 online casinos and sports-betting sites he has sanctioned.

“We gotta be fast. Her E-mail address is kim_nash@cw.com.

Perhaps most nettlesome are the financial transactions. Kitts, has spent $20 million in the past three years to set up its GalaxiWorld online casino, said Larry Weltman, chief financial officer at the company in Gibraltar, U.K.

Cost of doing business

In the new locale, Bengtsson plans to set up a locked and guarded server room in which to house six Sun Microsystems Inc. It’s almost a bank.”. JOHN’S, Antigua (IDG) — Here among the storefronts made of plywood and painted ice-pop colors, there grows a strain of electronic commerce that faces obstacles even Amazon.com couldn’t imagine. We’re sticking to a marketing strategy and a business plan,” said Bowering, a 38-year-old former stock broker and financial consultant. police say online gambling is illegal under a 38-year-old law — and they’re starting to prosecute. The company, which has headquarters in Sweden, employs 30 people locally, mostly in telephone support and risk analysis.

There’s just one problem: U.S. “We tried to recruit from locals but they don’t have the skills,” Bengtsson said.

Terry Bowering has paid his $100,000 annual license fee to Antigua and scoffs at the idea that online casino executives run a crooked business, hide from the law or fleece naive Internet users.

by Kim S. “We’re not typical bookies. “We deal with other people’s money and must have backup procedures and a fire-safe area and strict rules. Congress is expected to outlaw Internet casinos outright.

“Gambling provides revenue to the country but also employment and indirect economic benefits,” said Vere Murphy, commissioner of the Free Trade and Processing Zone, which licenses and regulates Internet gambling companies here.

For Bowering, vice president of offshore operations at Starnet Communications International Inc., Internet gambling is a legitimate form of electronic commerce that lawmakers just don’t understand.

Starnet Communications International Inc.

Inland Entertainment Corp.

GalaxiWorld

Murphy says he sees himself as something of a cybercop, enforcing licensing laws and chasing away lawbreakers. Moreover, the U.S. Page hits totaled 3.2 million.

“You play my game, and it’s a real live transaction taking place,” he said. Operations were down for more than two days.

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The four information technology people at Boss Casinos all are transplanted Swedes. In fact, Antigua invites it.

More than 1,200 registered players placed $3.1 million worth of wagers in GalaxiWorld’s first month in action. servers, one for each of the gambling sites he runs for other companies.

“We don’t sit here drinking umbrella drinks,” said Peter Bengtsson, managing director of Boss Casinos Ltd. in San Diego, which runs three online casinos, like to point out that they’re publicly traded firms that must report detailed company data.

Hiring programmers well-versed in Sun’s Java language is expensive but worth it, according to Weltman, 37. We’re the future. Bengtsson, a 30-year-old ex-blackjack dealer in banker’s clothes, runs Boss Casinos, which is one of the biggest online gambling operations here. We’re MBAs.”

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Playing by the rules

They also must support many languages besides English to attract players in Europe and Asia, where online betting isn’t so legally iffy.

Two Compaq Computer Corp. Internet gambling operators must gird their sites for multiple simultaneous users who pound through rounds of blackjack and online roulette — at 40, 50 and 60 clicks per minute.

But as usual, the house is raking in the cash. (Boss Casinos charges maintenance fees and takes an additional cut of the revenue from each client.)

Software development costs are the biggest expense for Internet gambling firms. Online gambling is a $535 million industry worldwide that’s expected to grow to $10 billion in three years, according to Datamonitor PLC, a market researcher in London. The credit card, passport and other data requested of players “never leaves this building. GLC Ltd., which does business on the nearby island of St. Gun-toting local police also watch the premises 12 hours a day.

Meanwhile, Starnet and rival Inland Entertainment Corp. Wire transfers, credit cards, bank drafts, personal checks, electronic currency, even cash: They all are forms of payment acceptable at one gambling site or another.

ST. servers running Microsoft Corp.’s Windows NT process bettor payments. That’s different from Amazon.com, where “one customer buys two books, and it may [take] two or three weeks to deliver,” added Weltman, a former lottery company manager.

COMPUTING
From…

Computerworld

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“We’re pioneers. Antigua is one of just a few countries to legalize online gambling. police action.

For example, some companies have hired Big 5 accounting firms to sign off on their business plans and certify, as best they can, that the software is fair to players. An estimated 200 Web sites currently lure surfers to virtual slot machines, craps and other Las Vegas-style games.

So gambling entrepreneurs from the U.S., Canada, the U.K., Israel and other countries have set down roots on Caribbean islands, particularly this one www.m88u.com

William A. Pierce

William A. Pierce

In addition to wagers on the whole game, all second half (2H) wagers include results from overtime. For 4th quarter wagering the best practice is to read the Las Vegas and online sportsbook rules for clarity on this type of wager.

For sports bettor's who seek more information on the topic of sports betting a site for resources on the subject is http://urbanlivinglaboratory.com
William A. Pierce

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