In the BMKT 315 class, my team and I built an online business from the ground up and learnt many valuable lessons in the process of doing so.
Our online business was a gamified sports gambling website named BetPass. BetPass was an extremely fun and engaging project to work on as my group members and I are all extremely passionate about sports, gaming, and maybe even the occasional sports betting here and there.
While building the online business, there were many trials and tribulations my team had to overcome to get to the point we got. Here are some of the most important lessons I learnt throughout the project.
Legal and regulatory considerations: Running a sports gambling website requires a thorough understanding of the legal and regulatory landscape. I learned about the different laws and regulations governing online gambling, and the importance of obtaining the necessary licenses and permits to operate legally.
Risk management: I gained a deep appreciation for the importance of risk management when operating a sports gambling website. I learned how to manage financial risks associated with betting, as well as the need to implement measures to prevent fraud and ensure fair play.
Importance of user experience: I learned that creating a seamless and engaging user experience is critical to the success of any online platform. We spent a lot of time developing a user-friendly interface that made it easy for users to navigate and engage with the site,
Overall, the BMKT 315 class taught me many important lessons that i will surely carry on in my life when wanting to develop my own online business!