How much would it cost to set up your own online casino? Make some calculations and see!26 july 2019
The gambling has always been a lucrative type of business bringing good and stable incomes to its owners. A lot of businessmen would like to know how much would it cost to set up your own online casino. How to estimate it properly if you do not know the particular features of casino opening?
The best solution is to get an advantage of the services of an experienced enterprise. The Casino Market company provides advice concerning all the issues that may arise when opening a gaming project. If you are purchasing casino software or thinking about obtaining a license, contact Casino Market’s professionals and get their support.
This article provides a general vision of the main expenditures that are to be incurred when setting up your online casino.
With the development of the internet technologies, many familiar things have moved into the digital format. For example, online casinos have become very popular.
Now, the online casinos are popular as never before. The global audience of gambling resources consists of more than 100 million players. It is not difficult to guess that their owners are getting a decent profit.
At the same time, more and more countries prohibit the work of gambling halls on their territory at the legislative level. So, what to do if you have an opportunity and a desire to open your own gambling resource? Then, the Internet’s flexibility will help you achieve what you want.
According to the law, the virtual space cannot be used to open a virtual online casino. However, it would not be difficult to bypass this ban. The majority of casinos tend to register their enterprises in a foreign jurisdiction and advertise it in their own country. Since the Internet is an international network, every world’s user has access to it.
To open an online casino, you will need a certain initial capital. It is difficult to indicate the exact figure as the project implies many options. For example, a license acquisition may cost you from a couple to hundreds of thousands of dollars, depending on the country which you choose.
The price of software from well-known companies of worldwide fame reputation tends to be quite high. Their products cost hundreds of thousands of dollars, and sometimes the price even reaches one million. Naturally, a lot of businessmen are not able to pay such costs.
To solve this problem, you may use the services of less known companies. In this case, you would pay much less as well. We are talking about thousands of dollars.
In order to make an online casino accessible to a huge network audience, you will need to pay for hosting and register an internet domain which would be a base for your gaming platform. You will also have to pay for the servers and their maintenance by your staff.
The server must be located in the territory of the country where your business is registered.
Speaking in general, you will need the following:
- a license issued by a country which allows this business;
- special software;
- a staff.
It is probably not necessary to explain why is this type of business almost guaranteed to bring profit to its owners.
The legal gambling presupposes a full compliance with all the legislative acts and the availability of a large number of permits for your business. In order to open an online casino, you will need to apply for a license in a country where the casino is allowed and then register your business there.
You will spend several thousand dollars on this. In order to prevent wasting your time and tormenting yourself with paperwork, you can ask specialised companies for help. Such companies will issue all the permits and help you quickly open an online casino. Their services are completely legal.
Let us take a closer look at how you can realise the very idea of opening an internet gaming club. The first thing you need is obtaining a license in one of the countries where this business is not prohibited by the law.
However, before making your choice in favour of this or that option, be sure to study all the related provisions of the local legislation in order to avoid various kinds of problems.
Answering the question of how to open an online casino, it should be said that the first thing you need to open is an offshore company. Register it, for example, in Cyprus. You will not be able to buy a license without this company. Gambling permits are sold in many countries.
This is an incomplete list of countries where permits are implemented but it is enough to understand the range of prices for licenses. If you do not want to buy it, you can open a bitcoin casino, which is currently gaining popularity.
The most popular countries providing such a license include the following offshore jurisdictions:
- Costa Rica;
- The Philippines;
- Dominican Republic;
- United Kingdom;
- The Netherlands.
The advantages of the last three countries include the highest level of communication channels quality. However, all these countries have their own strong sides and weaknesses.
The license of Malta costs 75 thousand dollars. The cost of authorisation in the United Kingdom is the highest: 150 thousand dollars. The most affordable license in Costa Rica is offered for 30 thousand dollars.
At the same time, there are many organisations that are ready to help you both with obtaining a direct license and by giving advice on all the subtleties of the gambling business. Casino Market is ready to provide you with such professional advice.
It is better to request for the services of specialists than trying to save money. Thus, you are saving a lot of time and getting rid of all kinds of potential problems.
After you have gotten a license and a registration, you need to move on. The next step is choosing software for the online casino.
All the software for online casinos is either provided for free or for money. It is better to obtain a paid script as it is debugged and you can be sure about its operation. The free software is to be used at your own risk. Add online slot game machines, roulette and card games and other casino games.
You will need to have a license before presenting the software you have bought. By signing an agreement with the data centre, you will need to specify that your plan is to work in the gambling business. Next, open a bank account and register a new domain name (or acquire an existing one).
When selecting software, you should know that there are two possible options for gamblers to choose from. A user can download a product from your website and install it on his computer opening the access to the casino, or play directly on the resource’s website via a special interface.
Many companies' experience testifies that the second option is more preferable. If you have appeared on the market just recently, it is quite possible that many people will be afraid to install an unknown software on their computers.
There are many companies in the market that are involved in the development of gambling software. If you have appropriate skills, you can try to create it yourself. However, we want to warn you that there should be several options on the casino’s website. It is better to give people as many options to choose as possible.
Do not forget about the external attractiveness of your internet resource. For sure, everyone knows that the appearance is the primary issue when visiting any website for the first time.
Accordingly, an attractive, nice looking website with a simple and intuitive interface is one of the most important components of your further success.
You can cope with the project alone only at the initial stage. As the project develops, you will certainly need a technical support service, as well as SMM and SEO specialists. Regarding the accounting, you can provide it by yourself or hire a specialist.
Before choosing a software, you should consider the manufacturers and the cost of their products.
All online casino software manufacturers can be divided into three groups:
- Worldwide known companies selling premium internet apps. The products of such companies cost a lot of money. To fill your gambling resource with software, you will need to invest more than a million dollars in your gaming establishment.
- Unpromoted brands. Such companies offer products for lower prices that may as well bring a profit. You will spend hundreds of thousands of dollars on this gambling business software.
- Entry level developers. Their software’s operation can be unstable in an internet casino. Spending money on the low-quality software, you run the risk of losing your money. Filling of the resource with such software will cost several thousand dollars.
So, you have launched an online casino. Now, you will need to make your resource working 24 hours a day. We recommend hiring employees who would work in shifts. Any technical problems must be solved instantly.
You will also need someone to monitor the finances and promote your website on the network. There are many companies on the market which can offer you their turnkey online casino projects.
To connect such well-promoted payment systems as Neteller, an operator has to pay a price of about $ 1000. Decent modern gambling clubs provide up to a dozen popular systems including the bitcoin payment connection.
A successful advertising of a casino is the most efficient way to add popularity to your project.
A full-scale promotion of your enterprise will cost $ 400. It involves various marketing tools: registering a website in catalogues, adding it to social bookmarking and message boards, and buying links from external resources.
The result of a keywords promotion would be the achievement of higher positions in the search engines and coming of target visitors to the website. It may be expected within two to three months.
Thus, opening an online gaming resource is not a small investment. If you do not have about 100 thousand dollars, then you should not even try to acquire it. Surely, you can open an internet casino, but the games' graphics, gameplay and range, would be far from perfection.
Accordingly, it will not be able to compete with other resources and doomed for an early closure. The payback period of a virtual casino is long and may take from one to three years.
If you have a certain amount of money, free time and small knowledge of gambling, you can try to open an online casino by yourself. With a competent approach, the success of the project is guaranteed.
However, if you want to choose the most proper casino solution, contact Casino Market’s professionals by making a request on the Feedback page or fill in the corresponding form on the Turnkey casino section.
All the relevant issues including the gaming license acquisition or customised software ordering are provided for Casino Market’s customers.
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