The ideal situation for tubeless is where the circumference of the tyre bead is only slightly more than the circumference of the rim between the spoke eyelets and sidewall.
If the tyre is too ‘loose’ around the rim, air will just escape when you attempt to inflate it, even with a compressor. But if this gap is tight, the air will force the tyre sidewalls outwards until the beads ‘hook’ into the rim sidewalls.
In your case, it might be possible to ‘pad’ the rim out by applying layers of rim tape. Stans and Joes ‘No Flats’ both make thick rubber rim tapes (with built in valve stems) so these might help you.
Of course, if your tyre really is that loose, you might always be worried out it popping off the rim, even if you do manage to get it sealed tubeless. To be honest, if the tyre’s that loose on the rim, you have the exact same risk with inner tubes, so in my opinion, I’d get rid of the tyres, or change your wheels !
Good luck 🙂