A good article found by symag on RB.
rgtonline.com
How to Choose a Reputable Online Gaming Casino
There are an estimated 400 to 600 online casinos. How does a player choose one that is reputable, a casino whose software works, who will treat the player's financial information responsibly and who will pay off promptly when the player wins?
There are no guarantees. But Rolling Good Times Online believes that casinos that are affiliated with reputable suppliers, the companies that create the software for the Internet and handle the electronic transfer of money are more likely to treat their players with integrity.
We are beginning a series of articles on these suppliers. The following article profiles Starnet, a rapidly growing company in the thick of Internet gaming.
It Begins With Gaming Software Integrity...
Players often assume that online casinos are a ticket to easy street. You just set up a server somewhere in the Caribbean, pick a catchy name and design a nice web page, and then sit back and watch the money roll in, right? But like their bricks-and-mortar counterparts, online casinos are a demanding business. They require investment in hardware and software to make the games work and to handle financial transactions. They need to continue spending money to promote their sites and they need technicians to keep everything humming.
One of the key behind-the-scenes players in this young industry is Starnet Communications International Inc. www.starnetcommunications.com . Starnet develops and licenses turnkey systems to companies that have obtained offshore gaming permits. The Starnet package includes software for the games, assistance in developing and managing a Web site, marketing help, 24-hour technical support and EFS (electronic financial services), the converting of a player's money into virtual chips and slot tokens. Starnet has dual headquarters: in Vancouver, in the Canadian province of British Columbia, and in St. John's, on the Caribbean island of Antigua. The company was founded in 1995. In 1997 it began operating its own online casino, www.worldgaming.net. Through that and related sites, Starnet operates an Internet sportsbook and racetrack as well as casino games. It's working on online lottery and bingo games. Starnet's own sites do not accept wagers from U.S. or Canadian residents.
Coupled With "Real World" Virtual Experience...
Starnet is the only major casino software provider that has its own online casino. That gives the company an opportunity to test new concepts, providing "real world'' virtual experience before it sells products and services to other companies. Also in 1997, Starnet became a U.S. public company. Its stock, under the symbol SNMM, trades on the National Association of Security Dealers (NASD) over-the-counter Bulletin Board. The company has applied for a NASDAQ listing. As a public company, Starnet has to submit all the financial reports required by the Securities and Exchange Commission. That means a certain level of comfort for business partners as well as for investors, because the SEC is a more rigorous watchdog than its counterpart in most countries. In March 1998, Starnet signed its first third-party licensee, Oz Gaming. Now the company provides software to nearly 40 online casino firms, most of whom have signed up just since January 1999. Many of the Starnet licensees, from the oldest to the most recent, are enthusiastic fans of the company. "The quality of their software and the quality of their people is top-notch", said a partner from the Discover Group in Vancouver. Discover manages two of Starnet's earliest licensees, www.casinoofthekings.com and www.i-casino.com. "There were teething problems", he added. "There's no company on a fast track that doesn't have teething problems. But the dedication of their people is second to none. I'd recommend them to others." The Discover Group also thinks players should look favorably on Starnet licensees. "If I were the end user, I'd pay attention to the ability to pay out when players win", they said. "Starnet licensees have to be well-heeled. You can't go in there with any money".
Strong Operational Support...
Indeed. An online casino, if it's based in Antigua, has to pay $100,000 for a government license. If the casino buys Starnet's system, it pays Starnet another $100,000 as an upfront fee. It then pays Starnet 15 percent to 40 percent of its gambling revenue. The percentage arrangement can be lucrative for Starnet, but only if the licensee is successful. This gives Starnet an incentive to continually help its licensees operate smoothly and expand their player base. Bret Conkin, Starnet's Vice President of Marketing, said each marketing manager at Starnet works with five to eight casinos to help them develop marketing programs. Conkin himself has extensive experience in marketing. He spent three years at Procter & Gamble, one of the world's foremost consumer products firms, marketing products like Crest toothpaste. He then worked for more than six years at the British Columbia Lottery Corp. before joining Starnet. www.superbet.com has used Starnet's software since the site went live in June 1998. The manager said her company looked at 12 or more systems before selecting Starnet. "We have always been glad we chose Starnet", she said. "They are a top-flight group. Starnet has, by far, the best and widest range of technology".
www.clubriocasino.com has also used Starnet since June 1998. The webmaster said Starnet's customer support has been great. "And they've got by far the best software out there", he said. "This could be a play-for-fun retail package. The quality of the games is top-notch." The games should get even better. Rob Grace, a Starnet investor relations manager, said the company's research and development team is perfecting a second generation of software that will feature three-dimensional effects and visual attractions like waterfalls. It will also enable interaction among players.
Liquid Internet, which builds Web sites and manages www.worldwidegamble.com, also raves about the company's service. They wanted a distinctive look for the site, and Starnet was very responsive. "They gave us all the help we needed", he said. "Everything we sent them was done in 24 hours. It's very unusual to get things done that fast!
Secure Financial Transactions...
Mark Dohlen, Starnet's chief executive, said his company was the first in Canada to process online credit card transactions. That was back in 1996, and Starnet was able to do that because of a relationship with the Bank of Montreal, one of Canada's major banks. "In the early days", he said, "a major barrier of entry was the ability to do financial transactions online. "Now, he said, Starnet works with large banks in several countries. Its e-cash system operates 24 hours a day, seven days a week. The public tends to think of Internet companies as a few computer geeks in a one-room operation. But Starnet has become a substantial business, with 140 employees. Ernst & Young, a well-known and highly respected CPA firm audit the books.
Rock Solid Financial Stability...
Starnet's stock has appreciated handsomely since the beginning of 1999. But unlike some of the more famous Internet high-flyers, like Amazon.com, Starnet is profitable. It earned $888,000 in the quarter ending Jan. 31. The company has no debt, Grace said. Starnet is a founding member of the Interactive Gaming Council, a trade organization that promotes responsible practices for the industry. "We actively support the Council," Conkin, Starnet's VP of Marketing, said. "It's one extra bit of credibility for us as a supplier."
The following companies operate online casinos using software from Starnet Communications International Inc.
LICENSEE CASINO
Starnet Communications Inc. worldgaming.net
pachinkocasino.com (Japanese) joyluckcasino.com (Chinese)
Worldgaming Services Inc. worldcasino.net
Oz Gaming ozgaming.com
Players Only Sportsbook and Casino playersonly.com
ISIS Enterprises Inc. casinoofthekings.com
i-casino.com
Secure Entertainment Corp. C.A. superbet.com
Club Rio Gaming clubriocasino.com
Aztec Gaming Inc. aztecgaming.com
Global Interactive Ltd. classiccasino.com
Las Vegas Casino Inc. lasvegascasino.com
COA World Entertainment casinoonair.com
Giordano World Entertainment Ltd. realtimegames.com
Giordano World Entertainment worldbet.net
Silverclover Entertainment Inc. silverclover.com
Atlantic West Gaming Entertainment Ltd. wincitycasino.com
Sinsational Intertainment Inc. thecybercasino.com
Liquid Internet worldwidegamble.com
World Games worldgamescasino.com
Raquel's Casino Inc. raquelscasino.com
JC Capitals casino-titanic.com
Esquire Services easyrollerscasino.com
- June 4, 1999 |
