Offering a bright future and big promises, online casinos have been a focus of attention for many people in recent years. That’s why many people are trying to establish their own casino business. Presumably, you know how expensive it is to start an online casino business. You may have heard or read a lot of persons’ complaints about the high prices of the new casinos. So how much does it cost to start an online casino? If you don’t know, read on our blog. Because in this blog, we will inform you about the prices of all requirements related to the online casino business.
As there are several essential stages for starting an online casino business, all steps have their price. But the general amount for a new online casino is required around 1-3 million dollars. However, it takes about two years to supply the place of the investment. It is a little bit uncertain whether you get enough clients to play at your casino. But for today’s online gambling market, it is pretty easy to do that.
For running your casino website, you have to get a proper license where your place may be. As some countries don’t permit online gambling, owners can not set up their sites in those countries. The most renowned juridical places in the gambling business are Malta, Costa Rica, Curacao, the Netherlands (Antigua, and Aruba), Isle of Man, and Gibraltar. The most accessible location options are Costa Rica and Antigua. However, these places are considered the least reliable ones.
The yearly charge is about 56 thousand dollars for licensing matters. To get a proper license in Antigua will cost you 75 thousand dollars per year. In addition to this, you will also have to pay three percent of your profits. You will also need to obtain a betting certificate in Antigua that costs 50 thousand dollars. Licensing from Alderney will cost you 15-20 thousand dollars.
In Malta, you have to pay the same price exclusive of various taxes. However, the controls are much rigid in this country. To set up your real cash online casino, you also need an address for your business. The startup price for a regular office is about 6 thousand dollars.
If you need a more reputable license, you have to obtain it from Germany, the UK or Switzerland. However, the licensing process in these countries is more pricey, and various taxes are higher than others. In England, you will be charged 40 thousand dollars as the initial payout to get a permit to do activities.
The casino site can not operate without any reliable software platform. The software system you choose must include a wide range of casino games such as online slots, online poker, baccarat, roulette, and others. The games must be from the best casino software developer, including Microgaming, Playtech, Betsoft, NetEnt, Novomatic, and others.
A Microgaming software package offering 450 casino games, including numerous online casino slots, roulette, blackjack, baccarat, keno, will cost you 250 thousand dollars for the main package. The company also requires all business owners to have an additional 300-500 thousand dollars to use for players when they cash out.
The software package costs for Rival Gaming and RTG start at 100 thousand dollars. However, the Playtech package including various online slots such as classic slots, video slots, and other games costs about 200-300 thousand dollars.
If you want to start an online casino business, you have to think about work staff too. Your gambling platform needs at least twelve specialists who should be available 24 hours a day to solve all problems related to the clients. You also have to hire a Player retention manager who will be in charge of providing the most precious gamblers and IT team consisting of 3 workers. Salaries alone will charge you about 200-300 thousand dollars each year. However, you can reduce this price by hiring personnel from other countries except for Europe and North America.
When starting your casino business, you need a lovely website with all the required functions. Functions must include access to all payment options like credit cards, debit cards, and online parties, including PayPal, Skrill, and Neteller.
As the site you use is presentative of your business, it has to seem delightful. Non-boring design won’t annoy the players and will attract more players. To set up a casino website will cost around 1-3 thousand dollars, depending on what you want.
To start an online casino business is a complicated but pleasant process. From time and financial aspect, the process may seem very exhausting, but eventually, you will be rewarded for all your efforts. The key to operating a prosperous online casino business is, of course, a well-thought strategy. An online casino without enough internet traffic is a poorly run casino. Therefore, if you don’t want to say goodbye to your investment, you have to pay more attention to your marketing matters. Most developing online casinos spend an average of 50 thousand dollars each month for their marketing. Most developing online casinos spend an average of 50 thousand dollars each month for their marketing. However, the amount of money varies depending on the casinos. Larger companies spend more money than new ones.
The total cost of a licensing, software system, staffing, branding, and all other considerations are too expensive and costly. Therefore, not every day, people can start an online casino business. If, however, if your pocket is large enough to afford all these requirements, then it is worth operating this business.
After all, stages are done, the main task of a business owner is to attract clients. In other words, they need to buy traffic for their online casinos. The main thing in this is not that users should visit your online casino, but also take action. There are various ways to buy traffic for online casinos. The most common and effective ones include pay-per-click tool, mailing, Network reviews of the casino, direct link exchange, media, and others.
Now you know how much money it requires to start an online casino business. And if you don’t have millions of dollars, then you have to find a better investment offer to get potential investors’ attention. Also, you can take advantage of other selections, such as the White Label business model and different software packages offered by casino websites. İf you are a gamer who is only interested in online casino games, we recommend you to try high-quality online casino games with exciting features offered by Playriverslot.
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