I am starting a website that is basically a directory catering to the Indian Casino Industry in my state and players alike. I am going to offer monthly/yearly subscriptions to casinos to be listed. Each casinos page content will change each month and will be a page each telling what all the casino offers, what is going on each month such as gaming contests, promotions, tournaments, entertainment, dining, etc. Currently most of the casinos each have their own website but there is no site where you can find all the casinos in one place and find out what is happening at them each month. I have yet to see a site similar to this, so I have no idea what to charge. I know the casinos in my state are very profitable…but I do not want to price myself too high or too low.
How difficult would it be for someone to copy your idea (including the Indian Casino Industry)?
It wouldn’t be difficult for someone to copy my idea…yet no one has even attempted anything similar, yet it would be difficult for an actual casino to do so.
What added value will your site have for them? What additional traffic for their sites can you realistically achieve?
Secondly, it is not so much that I am going to drive customers to their site as much as it is I am going to drive customers to their casino. Many casinos in my state do not advertise very well…a few billboards, radio ads…unless you know of them already there is no way to learn of them…I know if I went to the Eastern part of the state and wanted to go a casino, I would not have a clue of where they are, what the names are, what is being offered at them, etc..me being from the Western part of the state.
I see a great opportunity for me, the casinos, and players. This idea was generated due to me being a player who likes to travel around to various places, and saw a definite need. Over 100 casinos in the state, just have no idea what monetary value it actually holds…I want to say that I could easily charge $150 a month…less than $5 a day for the casino, and if 1 player came to the casino because of it, would get their return on their investment! Will they pay $150 a month, or much more or less?
Jay’s Answer: From their perspective, the casinos care about the additional prospects. If you can show how your site can help them get more customers, it’s worth a lot to them.
I’d suggest starting small, getting some casinos on-board for a very minimal fee. Then, measure the traffic. Ideally, have a way of tracking # of customers that show up at the casino because of your website (for example, can you provide free drink card or chips that the casino will redeem on your behalf?).
Once you’ve shown the ROI of your site, the value for other casinos will become quite clear and easy to price.