Do you at times think of ways to improve your favourite online casinos? Maybe you have come up with some impressive thoughts to change the industry, but you’re not sure how to get them through. One way would be to start your own online business, setting up that casino you have always dreamt of.
There are many things to consider and study before anyone can launch a casino website, whether you’re an experienced gambler or new to the industry. You will also need a reasonably big starting capital, so all the great ideas in the world aren’t enough if you can’t present some cash in savings or a loan from a bank or other investor.
1. Getting a License
The first step before launching the site is to get a gambling license. It doesn’t have to be from the country you live in; it can be from anywhere in the world where gambling is legal. A cheaper license from offshore providers like Curacao, Panama, or Gibraltar will cost at least €15000. Obtaining a license from a European country will give your casino a higher status, but it will also cost you at least €40000.
Getting a license in a small country doesn’t mean that only people from that country can use the site. It will be available all over the world where gambling is legal. However, you might have to go through quite a lot of legal documentation to launch your casino in different jurisdictions.
2. Buying Casino Games
After obtaining the license, you need to consider what type of games you want to provide. You could either try to find your niche, offering games with the same theme, or go wider, offering several different games. We recommend that you provide at least some of the most popular slots, but live casino, card games, roulette, and baccarat are also popular games every casino should have. Many games are usually a plus, but having the best ones is more important than a huge quantity.
You can contact the game developers straight away or partner with a B2B provider that sells packages containing games from several developers. This investment costs more than the license, setting you back about €200000-€300000.
3. Setting up Payment Options
The most convenient ways for your customers to make deposits and withdrawals are fully digital. Make sure they can pay by credit and debit cards and other alternatives like Paypal. Many players these days also appreciate the possibility of depositing cryptocurrencies.
4. Recruit Customer Service Team
A reliable Customer Service Team is essential for a serious online casino. Preferably, it should be open 24/7. This is a running cost you can’t get rid of, although you might be able to lower it by outsourcing the service. Expect your Customer Service Team to cost around $300000 a year.
5. Hire Web Developer
You do need competent people making the site for you. Even after it’s launched, you’ll need developers to update the site and ensure it’s optimized for the different search engines.
6. Launch the Site
When everything is set up, and your casino is running, expect expenses of at least €50000 every month for staff, marketing, and advertising. It could easily cost you five times as much as well, so look over all the running costs.
As with most businesses, it will probably take a year or two before your online casino breaks even. If you manage to create a successful site, you can start making big money. Some of the bigger casino sites actually have yearly revenues of billions of euros, so there’s a lot of money in this industry.
Good luck with everything, and remember to make the site as user-friendly as possible and spend some extra money on SEO so many people will find it. Creating partnerships with bloggers and streamers through affiliate marketing is another excellent way of increasing revenue.
Starting an online casino is no simple task, but with the right amount of research and help from professionals, you can open a great casino that will attract players from all over the world wide web. Follow our simple advice for a great start at opening your next venture. The world of online gambling is in constant evolution, so you should be too!