With the advent of the information super highway, sports betting firms have entered into a new era where sales can be generated at the click of a mouse

Thu, 02 Sep 2010 05:23:42 +0000

“Starting up any sports betting business is difficult. In our case, it took about 6 months of planning, a year of fund raising, and then another 6 months of building infrastructure before we made our first sale,” states Fedrick Keding of the Woodgate Patience Partners and Ltd. Company. Once investment is secured for a sports betting venture, and proper planning has been realized, start networking within your industry. “I find that attending industry related social functions, conferences, and even my neighbors’ cocktail parties help me find new ways of growing my company,” claims Abby Tornow, director of the Uhlich Pyrdum Brothers firm, “By asking the right people the right questions, you’ll find that you can learn new things and different strategies for your sports betting firm that you may not have thought of before.” Secondly, once the business side of a prospective sports betting venture is planned, map out the human element. One way of doing this effectively is getting an external HR consultant, one that is not tied directly to management or lower level employees. This allows for impartial scrutiny of your sports betting business model and ensures that the right people are doing the right jobs. “In the case of our sports betting marketing venture, we initially started out with a simple website, and then slowly grew as sales increased,” replies Kulpa Nadolski, the COO of the Schlipp Fode Co-Op, “Then, the website expanded into a data warehouse - essentially a store of all things related to our marketing campaigns - which allowed us to study and refine subsequent efforts.” Also key to success in the sports betting field is logistics. Believe it or not, even though we live in the world of the internet and instant information exchange, postal, parcel, and delivery services are still extremely important. Many sports betting proprietors recommend getting a Fedex, UPS, or DHL business account setup right away, so as to avoid comming out-of-pocket for routine mailings and shipments. One often over looked area in online sports betting businesses is infrastructure. Many focus heavily on budget, growth, and employment indicators, but fail to acknowledge tell tail warning signs generated by insufficient hardware and networking software. For any sports betting business, this can spell disaster. “Don’t forget about accounting,” warns Connolly Stittgen, CFO of the Delois Grover Corporation INC, “Many sports betting companies go pel mel spending money when there is a good cash flow. While there is nothing wrong with wanting to expand, it has to be done in accordance with accounting standards and detailed record keeping. This is especially true for public companies. Private sports betting firms can sometimes let this aspect of the business slide alittle.” Vergie Nabarrete, Human Services director of the Cirone Tutwiler and Partners sports betting firm, states that the working dynamic and human capital of your company should not be ignored. Baze Heide agrees: “I’ve seen companies with nearly everything - perfect budget, great IT, good distribution - but a terrible working dynamic between the employees. Though the sports betting product makes it to store shelves, the people working within the company feel miserable, unappreciated, and unmotivated.” Additionaly, fundraising for any sports betting business venture can be a daunting task. It is always hard to ask for money from others, especially when then nature of the request is highly speculative. Kenner Alcott, a highly successful sports betting capital management consultant, believes that planning is the key to selling your idea: “If you walk up to someone and say, ‘I’ve got a great sports betting business idea, would you contribute $100K’, they’ll probably laugh and consider you a lunatic…but, if you approach someone and say ‘Look, I have this great idea, and my plan is the following…’, it will reassure an anxious investor that things will move forward with thought and purpose.”

Corporate leadership at Vath Lotti Ltd announced cut backs due to the recent economic slump in the sports betting market

Wed, 01 Sep 2010 05:09:03 +0000

A few others agreed on this point, citing the recent sports betting research work by Kirbo Vokes, a noted analyst and author who many consider to be the foremost authority in the market. “I trust the word of Kirbo Vokes, especially in these times,” said Waltersheid Reiswig, partner in a major sports betting marketing firm, “and will look to other analysts of the same ilk to gauge how we move forward in this environment.” Sports betting sales were not down, at least according to a report by Trang Clemen, who said fourth quarter profits should help drive the consumer market forward. “Look, let’s not settle for second best,” said Catano Warrix, CEO of Betty Tabeling INC., “we can weather the economic down turn by saving our liquid capital, down sizing, and then bursting out when things turnaround for the better.” “We might just give everyone non-paid vacation,” said Barbera Poldrack, Vice President of HR at Karon Runde and Lawther Linebaugh, INC, “simply because having too many workers becomes unproductive. We’ll let portions of our employees take time off for their families. When they’re recharged and ready to tackle the demands of the sports betting consumer demand, we’ll open our doors once again. In the meantime, let’s be cautious and not jump to conclusions.” News of possible lay-offs in the sports betting sector came as no surprise to administrative assistant Zelechowski Cini, who works with the CEM of Azzie Stupak Traders INC. “I saw this coming…luckily, I know my job is safe, and if worse comes to worse, I’ll retire early and live off a modest pension. Organized labor is not concerned either, since many sports betting syndicates hashed out reasonable deals with corporate leadership last year.” “I’m excited about the future possibilities in our sports betting industry,” said manager Orines Scerra, who works at Kiera Zenz and Plyler Fecteau Partners LLC, “because I know in the long run, it’s all going to work out just fine.” “I’m doubtful of a fast turnaround,” said Newbery Schanbacher, a commodities broker for Rosenwinkel Eisbach and Son’s Firm, “but I am confident of long term gains that will help drive the sports betting market area forward.” Some long range planners believe the holiday season will be the bell weather indicator of how optimistic people are about the economy, particularly in the sports betting market. Consumers will spend some 20 to 30 % more, on average, in the months before the holiday season, which helps retailers and major producers’ bottom lines greatly. The sports betting sector, although sometimes slow during the holidays, generally does well no matter what result. “Orton Fusco is right on,” said Ester Lorick, a researcher in the sports betting market, who has over 30 years experience, “and I think as we look forward, a lot will depend on the behavior of consumers. If they choose to spend their money, we’ll get out of the slow times fast. If, however, on the other hand they decided to save it or pay off debt, we’re looking at a more bear market.” Top government officials echoed some of the sentiments of sports betting industry executives, who are reluctant to fire unnecessary employees in order to increase profit margin. “The last thing I want to do is send people home - because that’s against our company’s mission statement,” said Kincaide Hickam, VP of Finance at Delfina Jourdain Partners Ltd, “and also because we can reallocate our human capital to work on other projects that will be beneficial while the consumer market slows down.”

Sports Betting

With the advent of the information super highway, sports betting firms have entered into a new era where sales can be generated at the click of a mouse

Corporate leadership at Vath Lotti Ltd announced cut backs due to the recent economic slump in the sports betting market