The Costs of Starting an Online Casino

Starting a casino can cost more than $20 million dollars. Operators who want to open a profitable business should buy software, a license, set up a payment process, configure customer service, and consider ordering marketing services. Anyone can build a lucrative casino or a sports betting project anywhere around the world with the help of professionals. Yet prices can be different depending on the location — a casino in Las Vegas would be more expensive than a gambling establishment in South Africa, for example.

Yes, the gambling business brings high incomes, but how big are its expenses? Obviously, if bookmakers, gambling rooms and casino games appear in every area of ​​the city, then such an activity should be profitable. However, the online casino business and and sports betting industry has its own laws, and the competition among casino owners is much higher here.

Experts at 2WinPower disclose online casino development costs and explain how much it is necessary to spend on customer service, payment processing, gambling licensing, a marketing strategy, and other organisation elements to get a lucrative project. Also, our team reveals how to open online casino or sports betting portals with professional assistance from a reliable partner.

Start an online casino business

Indeed, you can become the owner of a successful gambling club in various ways. Plus, if you want to understand which form of running an online casino or sports betting site suits you best, sign up for a consultation with your personal manager of the 2WinPower company — the leaders of the online gaming industry. An expert will help you understand the intricacies of the gambling business, elaborate the marketing strategy, and acquire all the necessary software for an online casino for the best price.

Below, we will look at the costs of starting an online casino and how it can be done

Below, we will look at the costs of starting a gambling website and a brief business plan for a casino or a sports betting project.

Licensing

One of the largest expenses, when you start an online gambling project, is obtaining a license. Essentially, this is a document that gives you the right to conduct online gaming business legally in one or several countries. The process of gambling licensing can be complex. Nevertheless, it brings more benefits that are extremely relevant and even required while creating an online casino.

Unobvious advantages of working with a license:

• Reliability of gambling licensing. Suppliers of high-quality software (from a casino platform and a sports betting line to a slot game) are not interested in that semi-legal casinos or scammers use their intellectual product since they value their reputation highly. For this reason, online casino software developers sell their products only to companies that are officially registered and licensed to ensure they cooperate with a reliable partner.
• Reputation from gambling licensing. Players trust registered online casinos that have official payment processing means and pay taxes. This is a kind of guarantee that the owner has come to the market to stay and will not deceive the customers. In addition, high rollers make deposits only on licensed sites.

Still, the main task of a working permit is legality. Gambling licensing was implemented to set up efficient monitoring for new marketing participants. Naturally, working without permission, you risk getting the attention of regulatory authorities and being held criminally responsible.

The main drawback of a license is its cost. A document is issued by offshore countries like Gibraltar, Curacao or Alderney will cost $15-$20 thousand. The states mentioned above are the leaders of global gambling licensing and are notable for their loyal taxation; therefore, they have become quite popular among gaming business owners. Collaborating with such a reliable partner grants high user appeal and a favourable working environment.

However, if you need a more prestigious document while creating an online casino, consider the UK, Germany or Switzerland as a licensor. Keep in mind that the licensing process in the mentioned countries is much more expensive, and taxes are higher. For example, in England, a permission to conduct activities requires about $40000 as the initial payment.

The optimisation of online casino development costs for gambling licensing is possible with the professional support of 2WinPower. If you want to find out how to open online casino sites with a top-notch legitimacy certificate, contact our customer service to inquire about the details.

Casino website

It is your hallmark, your storefront, your primary gaming business tool. It is all about the online casino site. The financial success of the whole enterprise largely depends on how well and quick it will look. While creating an online casino, a gambling website is an element that cannot be neglected.

The website creation consists of several stages

• The development of an idea and the general concept.
• The design, preferably adjusted by a reliable partner.
• Front-end web development, programming.
• The integration of gaming software solution.
• Filling the website with the content.
• SEO promotion.
• Marketing strategy and brand promotion.

The hardest part is that it is almost impossible to create a website independently. You will have to master many professions, learn technical subtleties and creative trends. It is more logical to entrust the process of creating an online casino the project to an external contractor.

Choose a company in which a whole team of specialists works so that your site looks harmonious in every aspect.

The cost of developing a website from A to Z ranges from $1000 to $5000 and depends on your wishes.

Another part of the costs will go to the elaboration of a marketing strategy and brand promotion. The work of an SEO specialist costs about $500 monthly. The development of an efficient marketing strategy is a direct path to high profitability levels. Additionally, about $200-$300 is spent on the work itself.

Gambling software

The concept of “gaming software” is quite extensive. For most operators, it is only entertainment. But for professionals who know how to open online casino portals, it is much more. Gaming software relates to customer service, payment process configuration, sports betting systems, and more.

Generally, it includes at least three categories of programs that you will definitely need on the site:

1. A gaming platform. The online casino software that is fundamental in the literal sense: all elements on online casinos are built upon it. A platform (system) is designed to help the owner manage the entire resource, fine-tune and administer player accounts.
2. Slot machines. Those good old casino games we can find everywhere. As for the code: these games are separate scripts that integrate into the platform environment and run on request. Traditionally, slots are sold together as a package along with the software and game systems, although you can also buy them separately.
3. Multiple payment options. Programs designed to quickly conduct transactions between you and casino visitors. Our advice is to install as many different payment systems as possible: players appreciate online casinos if they have several payment methods, including credit cards, e-wallets, etc. Let us not forget about cryptocurrencies as a way of accepting deposits: bitcoin payment systems as your payment methods will increase the popularity.

Typically, online casino software vendors provide customers with all the necessary gaming business elements together in one package (including payment process solutions). The price of such casino solution is starting from $5000 and higher, depending on the configurations, your wishes and the number of games.

To find out your personal online casino development costs, contact the managers of 2WinPower and inquire about the details.

Marketing

You cannot advertise on Google even with official gambling licensing. The Facebook marketing strategy does not place ads. A few more large networks will refuse you as well. So, where can you promote your casino games?

It is not only about the internal rules of corporations, but also about the laws. Market regulators often place numerous restrictions on casino and sports betting advertising, and every violation is punished.

To easily bypass all the pitfalls of the advertising world, you will need a specialist who perfectly knows the marketing tools and laws regarding advertising of gambling projects. You should know that in any country of the world, the fines for casinos and betting shops are huge (because the industry is profitable). So, the development of a marketing strategy should be very careful, preferably configured by experts.

Professional monthly salaries start at $1500. But an efficient marketing strategy will easily cover these expenses. Just as with SEO, an extra budget is needed for the advertisement itself. The sums depend exclusively on your capabilities and ambitions, and the marketer will always find a way to spend them profitably.

Technical support

Last but not least without which it is difficult to imagine a successful online casino is a technical support service.

The requirements for it are the following:

• Working 24/7, i.e. a minimum of three work shifts.
• Answering in a chat, Skype, by mail and by telephone.
• A multilingual support.
• Being ready to provide qualified assistance and fraud detection.
• Understand the intricacies of each payment process and marketing strategy.
• The staff must always be polite and attentive.

Where to get a team like that? You can organise the work of the support yourself: note that customer support employees earn around $400 monthly. A team must have at least one highly-qualified specialist. Their salaries are much higher and depend on the competency of a professional. It is most efficient to have an expert to keep in mind the marketing strategy, know the nuances of payment processing, and understand the boundaries of gambling licensing.

As an alternative, consider an option with an outsourced support service that will take payments for servicing each client. This is a great option to start as long as you do not have enough money to hire a large number of employees and train them.

Thus, your total starting capital should be from $20000 to $25000. This already sounds cost-effective, but how to open online casino platforms with even a smaller budget? It is all about understanding the market and its opportunities.

Now, you know the costs of starting an online casino. It is time to learn how to save!

The Most Profitable Way to Open Your Casino

Each of the elements described above is crucial for the existence of a gaming club. The question is: is it possible to get all these parts for a different price?

In fact, it is. Some companies sell ready-made casinos based on the White Label model. The scheme includes all the necessary software (games, payment processing tools, CMS, etc.) and legal support. This may be the best alternative to creating a business from scratch that the online gaming market can offer.

The advantages of a White Label casino

• You do not have to pay for the license. The seller of a ready-made online casino makes a new entry in the already existing license documents for your domain as a subsidiary, so you can work calmly and completely legally.
• No need to buy casino software: all the necessary software solutions are already included in the White Label casino package. After detailed adjustments are made, you can get to work. The same applies to the setting of payment channels.
• Unlike a franchise, you can work under your own brand and develop your business as a separate enterprise.
• Most importantly: it is much cheaper!

You can buy a turnkey casino from 2WinPower — the official representative of software developers with a worldwide reputation: Microgaming, Novomatic, NetEnt, Greentube, Playtech, and many others.

So, do you still wonder how to open online casino projects? Contact a 2WinPower representative to purchase a fully operational casino, gaming software, payment process gateways, or order related services. We take up the casino marketing promotion, technical support organisation, troubleshooting and every other aspect of work responsibly. All that you may need is at 2WinPower.

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