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Radashack
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11-04-2004, 04:01 PM
Post subject: In the planning proccess of opening a new online Poker Room
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#1 (permalink)
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Flush
Join Date: Sep 2004
Posts: 522
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This is my general announcement, I'm currently working on the business model and reviewing all the legal in and outs with attorney's. Its looking like I am going to be moving forward with this.
Where would I be without FTR though  , So he is my gift to the community I suppose. I am currently Open to ANY suggestions for an the poker room, That includes: Limits, Name, Tourney Structures, Table Options, Sounds, Graphics, and anything else one can thinks off (sorry no drinks  ).
Also If you are interested in becoming an investor I am setting up a system that Investors will continually get % of Profits for the Life of the Room, as well as other incentives for helping this endevor get off the ground (considering i'm not rich, and havn't landed a big tourney ).
A Little of my background. This will be my 5th company (with my 3rd and 4th still running.) I have a background in Business management, and have done a good deal of business consulting over the past year. I have a very extensive knowledge of Internet adverstising (Search engine optimization, traffic generation, ect.) My Goal is to build a great poker room!
Feel free to reply to this thread with Questions/comments, as well as any input you may have. You can also PM me or e-mail me @ ben@aplusstudios.com.
I'm hopeing to get a good partnership program with the FTR guys, so all members can recieve those little extra spiffs . *wink wink* Xianti/Ty.
Thank You.
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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How much capital does it look like you need at your current estimates?
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Xianti
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Administrator
Administrator
Join Date: Dec 2003
Location: facebook.com/xianti
Posts: 5,289
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{Moved from FTR Community}
Hope this takes off. I may have some graphical suggestions and I think Fnord will likely have some great suggestions about everything.
Tyson will be talking to you soon, I'm sure.
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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I wont throw out exact number on the forum, but basically the more capital equivlates to more advertising and marketing through different channels and resources.
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DavSimon
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Full House
Join Date: Aug 2004
Location: Mount Holly, NC
Posts: 813
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Very interesting.
- How much capitol do you need to raise
- How many investors are you looking for
- What is the minimum and maximum investment you are looking for
- Will this be a skin of another poker site, or a completely new one
- Custom designed software or one of the available pre-packaged ones
- What time table are you looking at (how soon will it be up and running provided you get funding)
I am also very curious about the legality of operating a gambling site off shore or overseas being a US resident (if you are). But we can get into that later...I would certainly be interested in hearing more, I am not weathy either but this seems like a good time to take advantage of holdem's worldwide popularity.
**Edit** I just saw that you understandably don't want to throw out figures publicly, feel free to PM me here or email me at davsimon@bellsouth.net
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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Quote:
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Will this be a skin of another poker site
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I think this would probably be best to keep costs down but it would be nice to make your own from scratch and have every little thing in it you wanted. Of course that would cost loads more money unless you can do it yourself.
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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All right, good questions .
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How much capitol do you need to raise
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Not going to release concrete numbers on the forum, however. All Capital from investors will be detailed on when, where, how, and to who the money went. As for anyone who chooses to invest they will reviece detailed analysis of company exspenses/earnings.
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How many investors are you looking for
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The amount of investors is variable. The idea is to keep it fairly small though.
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What is the minimum and maximum investment you are looking for
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I am currently compiling a structure for investors. I will probably release it later this week. It will have an entire breakdown of Min/max's as well as return of investment based upon amount invested.
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Will this be a skin of another poker site, or a completely new one
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It will be a skin as far as backend (ie number generators, network codeing, ect.) The Idea is that the interface will be completly unique, also this will be an living poker room, The ability for customization will grow, as well as user options (for instance I plan to add another level where people have the option on Instant messaging, possibly streaming content, ect.)
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What time table are you looking at (how soon will it be up and running provided you get funding)
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Time table is to be have atleast a basic room running by December, The web design, marketing campaigns, ect. are all planned out or currently being built.
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I am also very curious about the legality of operating a gambling site off shore or overseas being a US resident
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2 ways to go about this, 1: You can start under someone elses gambling license, 2: The Legality of an overseas company is essentially the same as opening a manufacturing company. I could still run said company from the US. (this is as i understand it currently, I have a friend who is a lawyer who explained it to me this way, and without getting into taxes and what not i'll leave it there for now )
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but this seems like a good time to take advantage of holdem's worldwide popularity.
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Projections are that Poker is growing at a tremendous rate, and that among the top christmas present this year is poker gear (to which the poker room will have a store attached to it, which investors will also benifit from. )
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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What state are you in. I would be a lot more likely to do this if you were relatively close to me and I could meet with you or something.
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Ragingg
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3-of-a-Kind
Join Date: Oct 2004
Posts: 109
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Lol... The names of the table should be the names of the users on the forum! :P
By the way, if I could get a copy of the structure too, that'd be nice. resilient@gmail.com
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Humphrind
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4-of-a-Kind
Join Date: May 2004
Location: Kansas City
Posts: 1,887
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Originally Posted by Ragingg
Lol... The names of the table should be the names of the users on the forum! :P
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You can name th tables whatever, but call the poker room, The Humphrind Spectacular! I can guarantee 1 million visitors your first month with a name like that.
Sounds like a great plan. I'm not really in a spot to invest. But if there is anything I can do to help, I'll be glad to pitch in.
And my only suggestion for the room would be to make sure you have a "fold to any bet" button. Some places have them, some don't. But I like it.
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I don't know what they have to say
It makes no difference anyway.
Whatever it is...
I'm against it.
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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I'm based out of Colorado.
And i'll put a fold to any button in there .
Tables names, sounds like a good idea.
As for the naming of the room.... I unfortunetly can not use that name, I am afraid of the reprocussions from the vast marketing failure Sorry Hump
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Humphrind
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4-of-a-Kind
Join Date: May 2004
Location: Kansas City
Posts: 1,887
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Originally Posted by Radashack
As for the naming of the room.... I unfortunetly can not use that name, I am afraid of the reprocussions from the vast marketing failure Sorry Hump |
VAST?!?! I knew there would be failure. But vast failure? That kinda hurts  You made my list 
But if a recognizable name is what you want. How about this. Free High Quality XXX pics Just think of all the Google hits you will get with a name like that.
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I don't know what they have to say
It makes no difference anyway.
Whatever it is...
I'm against it.
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mike4066
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4-of-a-Kind
Join Date: Dec 2003
Posts: 1,943
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wow I figured I'd be on Humps shit list after the first gauntlet match
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Humphrind
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4-of-a-Kind
Join Date: May 2004
Location: Kansas City
Posts: 1,887
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Quote:
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Originally Posted by mike4066
wow I figured I'd be on Humps shit list after the first gauntlet match |
Thanks for reminding me. I thought it would take me a while to get 4 people. This took no time at all.
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I don't know what they have to say
It makes no difference anyway.
Whatever it is...
I'm against it.
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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Are you planning on having any local partners or employees or will you be basically operating this poker room on your own until it just starts taking up way too much of your time ?
Are you going to have your tech support outsourced sort of like empire and party and all those do where all the questions for the main party skin all go to the same place, or will you be providing this yourself?
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DavSimon
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Full House
Join Date: Aug 2004
Location: Mount Holly, NC
Posts: 813
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Researched a few domains...you would not believe how many "poker" names are registered.....maybe you would. Here are a few available ones- multinationalpoker.com
- fastactionholdem.com
- pandemicpoker.com
- bigrollpoker.com
- pokerfaction.com
- pokerplatoon.com
Anyway it may be better to pick a name you like then try to register the initials or an abbreviated permutation of the name.
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lonnie
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Full House
Join Date: Aug 2004
Posts: 923
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http://www.liquorinthefrontpokerintherear.com
or
http://www.pokerinthefrontliquorintherear.com
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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Quote:
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Originally Posted by BoondockSaint
Are you planning on having any local partners or employees or will you be basically operating this poker room on your own until it just starts taking up way too much of your time ?
Are you going to have your tech support outsourced sort of like empire and party and all those do where all the questions for the main party skin all go to the same place, or will you be providing this yourself? |
Locally I just have myself, and 1 person here who is going to help me with operating it (learned early that 1 person is never enough ). As need permits employees will be added.
Tech support will be In house to start, Half of tech support i'm sure will end up server issues, and the other I plan to end up payment questions, bonus questions ect. which will be handled at the moment by me. Now depending on how much funding we have, and what kind of initial playerbase is generated these fundementals will change, just as it will continue to evolve as the site grows.
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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Also to further elaborate the business model of the company will be a Virtual Coporation, There will be a website developed that will be secure and house all communications for employees and investors, including running totals, ect.
I will post a more detailed breakdown and how things will tie together, and stages of development later today.
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BoondockSaint
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4-of-a-Kind
Join Date: Mar 2004
Location: Indiana
Posts: 1,844
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When people invest are they actually going to have equity in the company or simply get a set amount or percentage in the form of dividends for the life of the company and get their original investment back if the company is ever sold. Like say you need 150,000 and I give you 10,000. If in 3 years party poker buys you for 1,500,000 would I get a check for 100,000 or how would you do that.
You probably don't have quite all this thought out yet but I just keep thinking of questions here at work since you have acquired my interest.
Are you writing a full business plan for this before you start or is it going to be a partial and you sort of start this somewhat on the fly.
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Radashack
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Flush
Join Date: Sep 2004
Posts: 522
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Quote:
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Originally Posted by BoondockSaint
When people invest are they actually going to have equity in the company or simply get a set amount or percentage in the form of dividends for the life of the company and get their original investment back if the company is ever sold. Like say you need 150,000 and I give you 10,000. If in 3 years party poker buys you for 1,500,000 would I get a check for 100,000 or how would you do that.
You probably don't have quite all this thought out yet but I just keep thinking of questions here at work since you have acquired my interest.
Are you writing a full business plan for this before you start or is it going to be a partial and you sort of start this somewhat on the fly. |
Good questions, I've actually been developing this idea for a while, and have a pretty solid business plan good to go (posting it in parts). Of course that plan is always under review as question arrise, ect.
However the Investor incentives is not complete I am still deciding upon this. I wouldn't consider this equity per se, however the idea is a %age for the life of the company, and if the company were ever to sell it would be based on the sale price (which investors would get a vote) a fair ROI would be decided (obviously more then you invested).
Thats the rough cut as of right now.
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Iconoclastic
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Flush
Join Date: Apr 2004
Posts: 324
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Ya gotta have the player always sitting at the lower center seat on the screen like UltimateBet. I always found that to be aesthetically super.
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