What does it cost to start an online casino?
Start an online casino yourself? We have thought about this to:, “What would it cost and what do you need for it?” A lot of people play with the idea of starting their own casino and there is a lot to arrange if you want to do this. Something you may not realise when you look at all the online casinos there are. At Casinokings.club we made a little list to get some clarity on the matter. It starts with financing. To start a casino of some size, you have to think of a budget of € 2.5 to € 3 million. You then need an average of two years to recoup the investment. The condition is that you get enough players to play at your casino and that’s easier said than done in today’s market.
Start an online casino: Software
An online casino can not start without a good game selection. The game offers should be reliable and varied, so you need a mix of slot machines, blackjack, bingo, poker, roulette, baccarat, Pai Gow and scratch cards from major game developers such as Microgaming, WMS, NetEnt and Playtech. A starter pack will cost you around € 200,000 plus a percentage of the profits of between 20% and 40%. You will have a good package. The price you pay for a slot machine is approximately between € 3,000 and € 5,000, so if you want to line up a nice selection, it is going to cost you.
In addition, some slot machines zon’n supplier linked to a central jackpot and if that falls into your casino, then you must pay. The supplier of your online slots will also want to see a reserve of at least half a million otherwise the winning player can not be paid. An online casino must be absolutely reliable and when obligations are not fulfilled, then it’s over quickly. Of course it is always cheaper but then you stand there with respect to your competitors for less and also the players who are accustomed to quality and variety, will you leave rather ignore.
Start an online casino, the license
The casino hosting you will have to do in a location where it may. The most popular locations are Antigua, Curacao, Costa Rica, Gibraltar and Malta. Here you will find therefore most competitors. When you go just anywhere to host the chances are that the authorities take your casino so again from the air, often accompanied by a hefty fine.
The simplest options are Antigua and Costa Rica, but these locations radiate from the least reliable. Besides paying taxes and fees you have there few rules. The annual cost is about € 50,000. In Malta you, exclusive of taxes, about the same lost. The controls are, however, much stricter there. Each location is that you now there will also have to establish physical. So you’ll need to register a company and have a business address. The startup cost is about € 5,000 for a standard office.
Start an online casino: ICT, design, marketing, finance
A reliable online casino thrives on good help desk staff who can work in shifts in order to handle all questions from players. Additionally you programmers, designers and marketers need to make sure everything works, looks good and is well known to your potential customers. In addition, you should ensure that your casino is always online. A day outage or even a few hours of maintenance, all your costs money and ensure that players will go to another casino. So go here are the necessary costs.
Bringing in new players too costly. Online casinos often hire specialized companies here on in. Left or right you will need to advertise your casino to attract as public and also you will have the necessary bonus packages must compose. With the launch of an online casino you are going to compete with large and experienced companies. Companies that are willing to use a multiple of your budget for marketing.
Start online casino: the website
Of course you also need a nice looking site with all the required functionalities. Features include a help desk and connection to all current payment such as debet cards, credit cards, but also online parties such as Neteller, Skrill and Paypal. For this you need about € 20,000 per month. The more payment systems can offer, the greater the chance that a player will deposit. You have to do everything to make it as fun, easy and accessible as possible for players to deposit. After getting them in you also need to invest in reason to make them stay.
So there is a lot to do and if you don’t have millions on the bank yourself, then you have to come up with a good investment proposal to get potential investors excited. It is not a quick win anyway as you sometimes do in the casino. Starting an online casino may sounds nice, but it requires preparation, money, a good plan and perseverance and even then it is still a gamble!