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We ran a premium rate SMS chat project for a while ... IMHO it's very tough to make a buck through it ... telco takes 75% of the revenue, then you have gateway costs and talent costs leaving you with a few cents per message. Then there are lots of issues to do with Flirt v's Sex chat and what's allowed in what countries etc etc.
All that said I can hook you up with the guys to talk to if you want to get into it.
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