The popularity of gambling on the Internet continues to grow actively. The gambling industry shows a phenomenal rate of growth every year, and new casinos appear almost every day. Demand generates supply.
Today, we are going to talk about what a modern gambling business is, what the prospects of it are, and, of course, how to start a casino. The subject is extensive, so stock some patience and study the information.
A little introduction
If you read this text, you must have had a thought in your head “How much does it cost to open a casino online?” Despite a great many projects, there is little of them that deserve attention. It doesn’t seem so hard.
The reality is different. I have wrote this article to form a general picture of what an online casino is and what you need to operate one.
So, what’s waiting for you?
Prepare that while you will be making your way through a long thorny path, your enthusiasm will gradually evaporate, and each new obstacle will be even heavier than the previous one.
- Business Plan
Before you go somewhere, a plan is needed. Especially if we’re talking about our own business. You always have to know your final goal. This guidance will help you make decisions and motivate you to work on your project. If you have a clear plan of action, you always know which direction to move.
You have to think out every detail because any unprovisioned thing can eventually become a serious problem. It’s like disease prevention. It may not be a very good comparison but the point is clear.
- Online Casino License
It may be a surprise to you, but online casino licensing is a necessity. Why? As we know, gambling business and everything that is related to the gambling is prohibited. If you work without a license you can be caught by law enforcement authorities and even jailed. But the licensee of one of the jurisdictions, which officially allow gambling can only have its Web resource blocked on the territory of a particular country.
The second point is the confidence of players. Modern users are better at understanding this subject and will not deposit their accounts just anywhere. The online casino license from a reliable regulator (Austria, Isle of Man, Malta) will be the best proof that you are not trying to deceive anyone.
The third aspect is cooperation with the payment services. No self-respecting payment system will work with a project that is not registered as a legal entity.
Moreover, serious European payments do not cooperate with each and every jurisdiction, so if you want to enter the EU market, you will have to come down with money, take care of the bank account, accounting reporting and tax payments. In the end, this kind of fun will cost you hundreds of thousands of dollars a year.
Casino licensing is not an easy task. Cheap licenses (Costa Rica, Curacao) are estimated at about $10 000 a year. Additionally, all of the regulators have their own set of requirements that must be met.
At this point, it’s also important to think of an effective name that you will be able to successfully promote further on. It should be a simple and easy-to-hear word, preferably a short one. You will base upon it in the process of developing an ad campaign.
- Online Casino Software
Perhaps in the ranking of priorities it would be appropriate to put the online casino software in second place after the business plan. You should rely on the situation. In Costa Rica, for example, there’s even no regulators to control the activities, although it’s possible to register a gambling business there.
It’s enough to pay the annual fee, and there’s nothing to worry about. In most cases, however, regulators require all online casino software that will be used to pass the independent expertise.
By online casino software a platform is implied. So as not to bother, you can contact one of the casino software providers. You can order a platform from such suppliers as Tain, SoftSwiss, GloboTech, Slotegrator, and other from Online Casino Market.
Those are trustworthy casino software providers that proved their products from the best side. You have to make choices based on your own preferences and requirements. The working capacity of the administration panel, security system, etc. depend on the platform. So if you’re planning on saving money on something, don’t save them on platform.
- Choice Of Games
The games should be chosen wisely. Consider the following. Popular video slots are installed in almost every Internet club but that doesn’t mean they can be ignored. At the same time, successful projects always have something that makes them stand out.
I recommend that you install all games that are most popular today and that you are in no way get limited to slots machines only. Practice shows that the most solvent audience is the category of people who prefer intellectual gambling, i.e. poker, baccarat, blackjack. It’ll be great if you also integrate a live casino software.
- Payment Systems
In order for players to comfortably deposit their accounts, it’s necessary to connect as many payment systems as possible, which is difficult to do in practice.
Bureaucracy existed and exists, and so many beginning operators experience problems. The thing is that our regional known payment systems, often refuse to work with online casinos because of legislative bans.
Of course, there are loopholes because people can always agree with each other. But it’s not as easy as it seems. First of all, I would recommend adding Wallet One, Click2Pay, WebMoney, Skrill and Neteller. They offer favorable conditions for gambling entrepreneurs, are popular and most consumers know how to use them.
- Website Design And Navigation
You cannot underestimate the importance of the web resource design. There’s no need to go around the bush or to fall into the scientific terms. It’s enough putting yourself in a place of a common person, not even a gambler.
When you visit a website, what’s the first thing that catches your eyes? Of course, it’s design. It’s more pleasant to view pages of a modern portal, where the color palette is not aggressive for the sight and yet doesn’t bore you into depression.
What distinguishes a successful casino from a common one? Attention to the details does. It must be borne in mind that today casinos pop up like mushrooms after a spring rain. That’s why it is essential to stand out against their background. In short, when the development of a turnkey casino online casino comes to the stage of design, spare no expense on artists and designers. Still do not go too far.
- Technical Support
You must respect players, take care of them, and respond to their whims. Therefore, you will need a technical support team. They are required to listen to all complaints and to respond politely to them. Any problem should be solved as quickly as possible.
Gambling business primarily envisages a reputation. Players will treat you just the way you show yourself. You can’t forget about the word-of-mouth effect. Make sure that users can communicate with the support representatives in a way that is convenient for them.
I have covered all the points only superficially. Expect to encounter the features and nuances at each stage, which have to prepare for in advance. Besides, creating a project is only half the case. You will have to promote your casino next.
You should be as creative as possible when approaching this task because casino marketing is very specific. Because of the bans imposed by the government, the casino promotion requires a delicate approach. You need to be extremely cautious and use a wide range of promotion methods. I would like to note that this work should be better entrusted to specialized offices, such as Income Access, Realtime Gaming, GameArt, etc.
How much does it cost to open a casino?
How much does it cost to open an online casino? Among other things, this is the most pressing and burning issue. The first thing that will require money expenses is online casino license. Its cost is determined by the specific jurisdiction. European countries are expensive, so they should be counted on only when you have a solid start capital. The offshore zone is considered a budget option.
In the process of obtaining a license, the services of the intermediary agency that opens the legal entity will have to be paid. So add a few thousand dollars to the registration cost.
In terms of online casino software, the world casino software providers set just enormous prices for their products. Yes, it will be a world-class software that will help you conquer any heights. The problem is only with the amounts.
The reasonable alternative of a turnkey casino
Without the relevant experience, knowledge and a team of profile professionals, the creation of a gambling business from scratch can take several years. Today, many companies offer to buy an online casino website. But selling an online casino means just a ready-to-work software. What about the license and payment systems? It’s still expensive.
A white label casino is the best way out of the situation. For relatively small money, you will get own project that you have the right to manage it as you wish. You can invent your own brand, add and remove games based on your preferences and the vision of your customers ‘ needs. In the future, when you have enough money, you’ll get an opportunity to buy out a project and become a rightful owner.
The prospects for development of an online casino
A successful business person always moves forward. Even the best advertisement of an online casino will sooner or later will wear out and so the day when gambling traffic stops growing will come. At such a moment, it’s necessary to expand and seek new solutions.
Let’s take a look at some of the business development vectors:
- Bitcoin Casino
There are several ways you can use in your work here. We’re now coming from the situation that you already have a turnkey casino, which has been working productively for some time. You can integrate a bitcoin casino software into a project that is already running.
But it’s better if you use a working club as an advertisement platform for a new bitcoin casino made in a separate domain but being promoted under your brand that has already been advertised.
This way you will kill two birds with one stone. You will start a new independent project and win the trust of the audience immediately. In our time, when cryptocurrency slowly but confidently seizes the world, the bitcoin casino software is a very useful thing, and it has serious prospects for the future as well. Detailed consultations on all issues are available from Slotegrator or CasExe.
- Sportsbook Software
You’ve probably noticed that most of the modern online casinos have a whole section for a built-in sportsbook software. A lot of people say: “If a person wants to bet on his favorite team, he’ll do it in a popular betting office”. Nothing of the sort! Here’s why.
Imagine the situation. A person gambles in your gaming club, and has never cared about the sports betting before. He already has an account, a deposit account, and the user has already figured out the control panel, and the withdrawal procedure.
Why would he want to go to another website if the sportsbook software is already at hand with coefficients and an event-rich line? Providers such as Slotegrator, SoftSwiss, Everymatrix provide the quality sportsbook software that works well on any platform in addition to online casino software.
Lastly, we advise you to adequately assess your capabilities and not run blind to the unknown. There’s nothing impossible, though. It doesn’t work for those who try nothing, so go.