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Non-Tech : ADVV (Advantage Technologies) - formerly CSIN
ADVV 0.7500.0%Sep 27 5:00 PM EST
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To: Michael Graham who wrote (209)5/24/1999 3:36:00 PM
From: THOMAS GOODRICH  Read Replies (1) of 483
 
Michael,

I will try to clarify some misinformation being communicated on the threads. The estimate of 15% of the gross amount wagered as net income for sportsbook operations is mostly accurate. Expenses are variable and depend on such things as affiliate marketing programs, advertising, customer chargebacks, etc. etc. The net win to the franchisee could be more or less but, 15% is usually a good baseline number to agree on.

There are indeed several online gaming web sites doing in excess of $5 million per month gross handle that we are of. Most of these operations have been operating for more than 2 years and have been and are ongoingly heavily promoted.

There is a distinction between development companies such as Starnet and the like versus franchisees as CSIN, etc. Starnet does indeed have overhead, however, profits from multiple revenue streams in splits with franchisees as well as operating as a house themselves. In addition, future e-commerce initiatives are planned.

CSIN is a franchisee of WorldNet Gaming who provides a turn-key themed web site, hosts the software, provides the gaming license and handles financial processing in exchange for approximately 50% of the net win. CSIN's primary obligation is to market their web site.

TG
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