Let us consider what budget entrepreneurs should expect in the early stage, whether it is necessary to form reserve funds, and whether there are worthy alternatives for turnkey casino software solutions.
The Cost of a Ready-Made Project: the Approximate Budget
The operator’s budget depends largely on the specifics of the chosen business area: the country the game content is distributed, the design of a gaming site, integrated financial tools, the availability of affiliate services, and more factors that can affect the total cost of a turnkey online casino.
It is possible to buy a ready-made platform for 60 thousand dollars minimum. Let us consider the elements of such a price in more detail.
Game Content
It is definitely worth purchasing dynamic entertainment by Microgaming, Habanero, Endorphina, Playtech, Amatic, and other vendors. The catalogue of games directly depends on the country where the entrepreneur works.
A few examples:
- When entering the CIS market, it is strongly recommended to integrate traditional slots from Novomatic.
- Residents of Scandinavia prefer local developers: Yggdrasil Gaming, Thunderkick, and NetEnt.
- Asian gamblers usually choose games with live dealers from n2-LIVE, Evolution Gaming, and Ezugi.
The estimated cost of a package of casino products is 17 thousand dollars, that is, 28% of the total budget of a turnkey casino.
Payment Module
Features of the financial aggregator (the supported currency and limits) also depend on the chosen market.
Key characteristics that are worth paying attention to:
- processing of different payment methods (bank and mobile transfers, electronic transactions, voucher replenishment system);
- flexible limit environment (options for choosing minimum and maximum limits for the replenishment and withdrawal of funds, setting the percentage of commissions);
- multicurrency (the ability to pay in dollars, euros, and local money).
The cost of the payment module is 5 thousand dollars (8% of the entrepreneur's budget).
CRM System
The program collects and processes big volumes of data related to:
- personal data on users;
- information on B2B partners, competitors, authorities;
- the reaction of gamblers to the bonus offer;
- promotional marketing;
- optimisation of business processes.
The CRM service is an extremely useful product with an average cost of 6 thousand dollars, which is 9% of the casino's total budget.
Gaming Platform
This is a backend on which all structural components of a website are installed.
The platform must have:
- high performance during critical loads on the IT infrastructure of a turnkey casino business;
- open API gateways for the integration of additional programs;
- good protection of software against external attacks and internal technical failures;
- a system of access rights with outlined roles for the owner, administrator, customer support employee, and marketer.
The platform is the most expensive element of a casino. The approximate cost of the backend is 22 thousand dollars, which is about 36% of the total budget.
Design of a Gaming Site
Characteristics of good UX design:
- a stylish colour scheme with carefully selected fonts and 3D effects;
- convenient navigation with the placement of the main elements (a plea for the registration, new games, and bonuses) on the main page;
- full synchronisation with profile pages on Twitter, Telegram, Facebook, and Instagram;
- HTML coding with the adaptation of a website so that it can be used on smartphones and desktop PCs;
- introduction of gamification elements (additional offers for users).
The website design costs approximately 3 thousand dollars (5% of the budget for the creation of a casino).
Technical Solutions
It is impossible for entrepreneurs to work without:
- hosting of a platform;
- several mirrors of the gaming site (to work under different domains and for the equal distribution of the load on the infrastructure);
- customer support;
- live chat, and other external components.
The approximate cost of technical solutions is 7 thousand dollars, which is equal to 12% of the total cost of the product.
Features of the Project Licensing
The development of a turnkey casino solution requires the subsequent licensing. This is the only way to guarantee the legitimate work of an operator and attract users that trust the gaming site and are happy to place big bets.
The approximate cost of the permit is 40 thousand dollars. The price depends on the country’s image and the package of services provided to the licensee.
In 2021, entrepreneurs can buy online casino software solutions with the licence issued by the following respected jurisdictions:
| The cost of licensing a gambling business is 38 thousand dollars but businessmen can obtain a sublicence for 7 thousand dollars. The British overseas territory is interesting because it offers a flexible tax system. The more the operator earns, the fewer taxes he pays. For companies with an annual net profit of 43 thousand dollars or more, the minimum tax rate is 0.1% | |
| The launch of an online casino in Malta provides for the payment of a one-time state fee of 50 thousand dollars. The licence is valid for 5 years, after which it can be extended on a fast-track basis. In Malta, gambling is not prohibited, the IT infrastructure is well-developed, and the taxes are low (2% of the annual turnover) | |
| The cost of the permit is 40 thousand dollars. The document gives the right to organise all types of gambling ― slot machines, bingo, table games, and lotteries. The local Commission was the first in the world to issue a licence for running a bitcoin casino, having realised the long-term perspective of blockchain projects | |
| The acquisition of a licence in this country costs 70 thousand dollars. The write-up value is fully compensated by low taxes: entrepreneurs pay only 0.15% of the annual turnover. The local government offers flexible working conditions ― the simplified business registration and preferential tax-exempt periods | |
| The cost of the document is 45 thousand dollars but it can be adjusted depending on the type of permit (B2B or B2C). As in Curacao, the Alderney Commission issues one permit for all types of gambling, including bets, slots, poker, and lotteries |
The Margin of Safety of the Company as a Guarantee of the Legitimate Work
Market experts offer entrepreneurs to create a reserve fund before launching an online casino. We are talking about the approximate sum of 30 thousand dollars.
This money must be spent on the following needs:
- Payment of jackpots. Certified games have a reliable RNG. Typically, the RTP percentage is 94–97%. In the long run, entrepreneurs are guaranteed to earn a profit but in a short time frame, they may not be that lucky. A security fund is needed for the payment of big prizes won by gamblers, so as not to “go into the red”.
- Creation of a loyalty program. You can attract a solvent audience with generous bonuses but the return from traffic arbitrage will not be achieved immediately. It takes time (3–4 months) for gamblers to start playing seriously: they start making large deposits and place big bets.
- Cooperation with partners. Regardless of the type of interaction with webmasters (CPA or RevShare), affiliate marketing requires cash injections at the start of the program. The attraction of clients from Europe and America costs from 30 dollars per user. It will be a bit cheaper to work with the CIS countries ― from 10 per gambler.
The security fund is the operator's guarantee of the honesty and transparency of his activities and the fulfilment of all obligations to customers and B2B partners.
Yes, over a short distance, entrepreneurs may not be lucky: for example, a gambler won a big prize in the first month of the operation of a gaming site. In this case, the businessman does not need to despair and worry. The best solution is just to pay money and wait for future luck.
Later (in 6 months or more), online casinos will always turn out to be “in the black”.
Alternatives to the Establishment of a Turnkey Platform
Entrepreneurs have access to the following ways to launch an iGaming project:
- Cooperation under the White Label agreement. The key advantage of the solution is that operators do not need to obtain a permit. The brand can work under the sublicence of a parent company and pay royalties every month. Therefore, in the long term, such an offer as a turnkey casino website for sale is very profitable: entrepreneurs do not depend on the parent company (there is no need to pay duties and develop a marketing strategy).
- Purchase of a casino script ― a simplified version of the platform, where some of the functionality still needs to be improved. If operators know how to write a program code and create a website, then the connection of a gambling script will be a good option. However, it will be necessary to independently obtain a permit and integrate payment tools.
- Development of individual iGaming projects. As a rule, these are blockchain solutions with elements of VR and live content. It is also possible to order a Telegram casino and optimize marketing costs in the future. Such products will allow entrepreneurs to enter the market with the best turnkey online business.
The Main Things about the Implementation of a Profitable iGaming Project
From Casino Market, you can buy a casino with a licence, a catalogue of in-demand games, multi-currency payment modules, and much more.
The company offers the following profitable business solutions:
- operation under the White Label scheme;
- establishment of a live casino;
- development of a bitcoin casino;
- integration of security software, VR games, and affiliate programs.
- A ready-made website costs about 100 thousand dollars. 60 thousand will be spent on the purchase of a platform with a catalogue of games, financial instruments, and the CRM program. As for 40 thousand dollars, this money must be spent on the acquisition of a permit.
- The most prestigious jurisdictions for casino licensing include Curacao, Isle of Man, Malta, Gibraltar, and Alderney.
- Before you start receiving clients, it is necessary to form a reserve fund. This money will be spent on the unplanned payment of prizes and the attraction of regular and solvent customers.
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