What should you do if you are asking yourself “Can I open my own casino?”12 august 2019
Today, the question «Can I open my own casino?» is becoming more relevant. Now, this idea does not seem like a whim of a rich man but is perceived as a very sensible advice. Therefore, let us make it clear whether there are any chances to do it if you are just an ordinary businessman.
To get a competent help, you should contact experienced businessmen with a decent reputation. The Casino Market company provides comprehensive advice in the field of the gambling business organisation.
The online gaming business can bring a decent income to its owner. That is why many people want to know how to open an Internet casino. Let us figure out what steps you will need to take for this and what documents and investments would be required.
There are no significant difficulties in a casino opening if you have the needed funds and a proper professional expertise. The latter is particularly important: to open your own successful gambling project on the Internet, you will need to have some knowledge of the specifics of making an online business in general.
There are three ways of getting the necessary software; the first is purchasing ready-made programs, the second is taking raw software and completing it by yourself, and the third option is contacting commercial companies to use their products without prepayment under some guaranteed conditions.
The disadvantage of the first method is obvious: you would have to pay a significant amount of money, which some young entrepreneurs are not able to afford. The second option is useful only for those who can create and complete a program code.
The third way is an excellent solution for those who want to open an online casino without investment and see no problems regarding the software. Now, let us identify the terms used to conclude such contracts.
To open an online gaming club independently using the third-party software option, you will need to contact companies offering their applications on the condition of sharing the profit with the casino owner.
You will be given an almost ready-made casino solution, and then you will only have to register the website and solve the problem of attracting users.
A software provider does not solve the issues of traffic increase for you, this task falls entirely on your shoulders. However, if you can successfully solve it, you will ensure high incomes. Just wait for users to come and receive your money, deducting a certain share to the software vendor.
Each supplier offers his own terms, but it is unlikely to find a company that wants to receive less than half of the profit. Basically, these conditions are justified: initially, you do not pay a penny to a vendor. Then, both your income and the vendor’s depend only on your ability to attract the users.
- a business registration;
- a domain name;
- the servers;
- the software;
- the staff.
To initiate an online casino’s startup procedure, begin with the business registration and obtaining a license. Consider it in the context of the expenses to be incurred when going through this stage.
You will need to register a gambling company and obtain a license that allows Internet gambling. This item is particularly important, as all the future work of the business will be regulated by the legislation of the country you choose.
Firstly, it concerns the purchase of a license to conduct a gaming activity in the country where it is allowed. To make a profit with a casino, it must be registered, and this is impossible without a special document.
The license’s price may vary within the following limits:
- Malta, Gibraltar or Panama offer licenses for 30−50 thousand dollars;
- Antigua and Barbuda: $ 25,000;
- Belize: $ 18,000 (you must hand over your fingerprints);
- Costa Rica: $ 15,000.
Since some countries prohibit gambling enterprises, you can only register such a business in a state where it is allowed. Today, more than 80 countries issue betting licenses. Traditionally, these are mostly offshore or other special economic zones. However, there are also ordinary countries loyal to this business.
Casino projects can be registered in Germany, the Netherlands or Great Britain since these countries provide a high quality of communication channels. Thailand or Costa Rica offers a registration as well, but the communication quality in these regions is very low.
You can conduct online activities there quite officially by paying taxes. With no license, the entrepreneur's possibilities are substantially limited. Moreover, most partners and software companies prefer cooperating with a fully legal business.
The jurisdiction choice depends on a number of factors:
- Features of the business: where do most players come from, what kinds of games are supposed to be the key ones.
- Taxes and costs for buying and renewing a license; the sums of payments may vary significantly.
- The conditions offered when registering a casino: for example, they are much stricter in Europe than in Latin America or Asia.
- The reliability of a jurisdiction, the level of confidence, etc.
You should also remember about the annual license extension and payments.
The remaining costs will be significantly lower. This is about the software and other technical issues: first of all, the acquisition of a good script. In addition, you will have to spend money on the purchase or development of the website and a reliable hosting.
After the company is registered and a bank account is opened, purchase a domain name to present your project. You can either register a new name or buy an existing one.
Do not register a domain using your personal name, but your company’s name. Otherwise, it would mean a loss of anonymity, which can cause a number of complications in the future.
The servers are to be purchased only if a company has already obtained the right to network gambling activities. You will need to sign a paper copy of the agreement with the data centre.
Usually, payments for the data centre services are made using the company’s bank account.
All the mentioned above is to be done to provide your signature for as many documents on business relations with the data centre as possible. This guarantees a business and investment protection.
When purchasing a software, you should make a study of the existing gaming resources that function based on the software you are going to buy.
We advise you to learn about the seller's reputation, check the game's functioning, and study some technical features:
- the engine’s performance;
- functionality parameters for the new games introduction;
- the properties of the slot machines and the user’s interface;
- the peculiarities of the random number generator; certificates and assessments of experts regarding the correct operation of the generator should be available;
- the percentage of payments.
The necessary payment systems are to be integrated into the software to provide the users with the relevant tools to make bets and withdraw their wins. Remember about the importance of including the up-to-date features, i.e. a bitcoin payment option, etc.
To create a gaming resource, you will have to attract qualified specialists from various industries:
1) Programmers who can create casino games
The revenues and the reputation of your project depend on the correct operation of the electronic mechanisms.
If the mechanisms work improperly, it will lead to an outflow of the clients or a profit shrinkage. The algorithms tend to be developed by the experienced programmers who have been working in the gambling business for a long time.
2) Web designers
Any Internet project’s success is determined by the effectiveness of these specialists. If a casino’s web design looks like a simple one-armed bandit, it would repel the serious players.
3) Internet resources promotion specialists
The website credibility and the traffic depends on how successfully do these employees work. They should attract the targeted customers in a way of using various marketing tools. This will directly affect the project’s profitability.
It would not be easy to cope with these online casino opening stages if you act alone. Therefore, it is best to contact the specialised companies that can organise your entire gambling project.
Also, they can help register a legal entity abroad and develop it, install and optimise the software and provide a functioning platform for an online casino.
Thus, opening an online casino is a somehow complicated matter, but quite possible if you know its features and specifics. An entrepreneur who intends to open such business alone should consider the possible risks. There is a certain probability of failing.
On the other hand, the profits of successful business development can bring significant amounts of money, so the risk is completely justified. According to unofficial data, the overall casino profitability can reach 60%.
Although gambling websites belong to the entertainment business, this is a full-fledged and serious work. Creating an internet gambling establishment, you will need to adhere to the well-established schemes.
If you do not wish to miss any of the important stages and conduct everything in accordance with the norms of the international and national law, contact Casino Market. Make your request on the Feedback page or fill in the corresponding form on the Turnkey casino website.
Casino Market will help you by providing competent advice and developing a full-fledged strategy of work taking into account the features of your business and other circumstances. The customer receives a full cycle of support: qualified, operational and personalised.
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