The costs of starting an online casino

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 Internet has its own laws, and the competition is much higher.

Costs of starting an online casino & gambling business

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

Indeed, you can become an owner of a successful gambling club in various ways. Plus, if you want to understand which one suits you best, sign up for a consultation with your personal manager of the 2WinPower company. An expert will help you understand the intricacies of the gambling business and acquire all the necessary software for an online casino for the best price.

Licensing

One of the largest expenses when opening a gambling business 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. Nevertheless, it brings more benefits.

Unobvious advantages of working with a license

  • Suppliers of high-quality software (from a casino platform 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, major developers sell software only to companies that are officially registered and licensed.
  • Players trust registered online casinos that 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.

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 notable for their loyal taxation; therefore, they have become quite popular among casino owners.

However, if you need a more prestigious document, 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.

Casino website

Online casino website

It is your hallmark, your storefront, your primary 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. A web resource 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.
  • Front-end web development, programming.
  • The integration of gaming software.
  • Filling the website with the content.
  • SEO promotion.
  • Marketing 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 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 promotion. The work of an SEO specialist costs about $500 monthly. Additionally, about $200-$300 is spent on the work itself.

Gambling software

The concept of “gaming software” is quite extensive.

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

  1. A gaming platform. A piece of software that is fundamental in the literal sense: all other elements 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 game system, although it is also possible to buy them separately.
  3. Payment solutions. Programs designed to quickly conduct transactions between you and casino visitors. Our advice is to install as many different payment systems as possible: the players give credit to online casinos if many financial organisations cooperate with it. Let us not forget about cryptocurrencies as a way of accepting deposits: a bitcoin payment system in your casino will increase the popularity.

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

Marketing

Online casino marketing & advertising

You cannot advertise on Google. Facebook does not place ads. A few more large networks will refuse you as well. So, where can you promote your establishment?

It is not only about the internal rules of corporations, but also about the laws. Market regulators often place numerous restrictions on casino 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).

Professional monthly salaries start at $1500. 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 a qualified assistance.
  • 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.

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.

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

The most profitable way to open your casino solution

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. 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 programs are already included in the White Label 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.

Contact a 2WinPower representative to purchase a fully operational casino, gaming software, 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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Date of publication: 19/10/2018
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