How much would it cost to set up own online casino? A cycle-by-cycle strategy
Casinos are an incredibly profitable area. The modern gambling market offers much more than one affordable and simple casino solution for the creation of your own project: from bit by bit instructions, which help operators to launch a gambling business from scratch to several tools for launching land-based locations and creating online casinos on a turnkey basis.
One of the rules of the online gaming market is that the price for launching a casino is never fixed – it depends on many factors.
A basic system of settlements:
- Foundation of a company – 3–7% of the total initial capital.
- Permit for gambling – 10–30%.
- Purchase of the software for a platform – 25–35%.
- Recruitment of personnel – 15–20%.
- Related costs – 5–15%.
We made a list of all expenses that operators are going to face during the first year:
- current expenditures – about 5%;
- the renewal of a permit – 1–10%;
- costs for maintaining the operation of the software – 10%;
- payments to providers of slot machines – 5%;
- a marketing program – about 50%;
- payments to personnel – 20–30%.
A detailed calculation of costs will require from you the presence of special knowledge and a careful analysis of the current market situation. Those who want a detailed business plan and more information on costs can contact Online Casino Market.
Things that operators have to know before they purchase a permit for online gaming
A first step towards launching a gambling project by yourself is to acquire a license since it ensures that the provision of gambling services is absolutely legal.
The most popular jurisdictions that provide licenses are:
- The Isle of Man. The price of the service is one thousand pounds (a first instalment) plus thirty-five thousand pounds as an annual fee for the renewal of a permit. Also, about 0.1–1.5% from revenues is charged.
- Curacao. This jurisdiction does not charge income taxes from a gambling website. It will be necessary to pay five thousand six hundred seventy euro monthly during the first two years of cooperation (then the amount of money for the authorisation is negotiated on an individual basis). An additional aspect – operators are obliged to have a security deposit of at least thirty-four thousand euro.
- Malta. This country grants four types of permits, and each of them is given for five years. Their cost is about fifty thousand euro. There is also an income tax of 5%.
- Costa Rica. A contract with this jurisdiction needs to be renewed every three months. The first instalment starts from fifteen thousand dollars, and the extension costs about one thousand five hundred dollars. Also, the law of the country states that it is necessary to hire a local representative and local staff and rent an office space.
- Gibraltar. A permit here costs twenty thousand euro, and its annual renewal – two thousand euro.
By cooperating with Online Casino Market, you can save time on finding a suitable jurisdiction and drawing up of documents and also get a legal advice.
Economical ways of buying a permit for online gaming
This service is a convenient alternative for independent entrepreneurs and a structured product, which is launched under the personal brand and with the design chosen by a businessman.
A parent company gives an operator the range of products and services, which consists of:
- valid license;
- set of software;
- game content;
- wide range of betting products;
- integrated payment processors;
- marketing tools for the promotion of a website;
- technical support and assistance.
For a White Label program, operators have to pay about ten thousand dollars, which more profitable than an independent acquisition of a permit. Another positive aspect is that operators can use the already proven methods and products of the parent company without paying any fees.
An online casino franchise
It is a cooperation agreement that enables operators to use an already existing brand for their own commercial purposes.
Positive aspects of a franchise:
- Easy and fast launch of a project. Entrepreneurs receive a ready-made business with a complete set of tools for conducting it according to already established schemes.
- Terms of the contract require the use of the franchisor’s identity by an operator. It means significant savings on the promotion since the work of the location is carried out under an already recognisable brand.
- You do not have to obtain a permit.
- Lower competition.
- Educational content and training of the personnel of a franchisee.
A franchise does not have a fixed price, and it can be paid for in two ways:
- Lump sum (one-time payment);
- Royalty (payments that are made once in a while depending on the casino margin or the amount of turnover).
A franchise or the White Label casino solution is a good choice for beginning entrepreneurs with limited initial capital.
For more information, you can contact experts from Online Casino Market who will select for you the best conditions for cooperation and the most economical and simple option for launching a casino website.
The launch of a casino from scratch
A good platform is a combination of speed, functionality, and excellent design.
A website from scratch is a rather attractive commercial solution but its implementation requires significant financial costs and it is time-consuming as well. According to statistics, you will need six months to create and launch an integrated multifunctional project with a complete set of tools. And it will be not so cheap – from twenty-five thousand dollars.
As an alternative, you can get a turnkey casino.
Advantages of this offer:
- the resource is equipped with a set of administrative and user tools;
- a wide range of payment processors and slot machines;
- many custom settings;
- an excellent design;
- guaranteed security;
- round-the-clock technical support.
A turnkey online casino is an economical and easy way to gain profit. By contacting Online Casino Market, you get a product that pays off in about six months after the launch of a gaming club.
Key information on the purchase of the software
Each slot game is part of the basis of any gambling project. You will never reach success with the portfolio that offers only a hundred casino games, even if they were made by famous providers.
The income of a casino entirely depends upon the number of products that you offer on the website.
Online Casino Market offers convenient integrated solutions from the world’s leading developers:
An independent purchase of slot games will cost from fifteen thousand dollars. Entrepreneurs must remember that they will have to conclude a separate contract with each of the providers.
But cooperation with Online Casino Market means that we take care of all legal issues.
Another available service is the creation of HTML5 games. Slots with original storylines and bonus systems will become the gem of your portfolio.
The selection of a payment processor
Online Casino Market offers many solutions, which can attract the widest possible target audience.
We can integrate such systems as:
Such an option as the bitcoin payment deserves special attention. Tools for making payments with the use of cryptocurrency are the trend of this year.
Advantages of choosing bitcoin payments:
1. Minimal commission or no taxes at all.
2. Complete anonymity.
3. The lack of control systems and the regulation of monetary transactions.
4. Ability to place minimal bets. Thus, the size of a bet can be 0.0001 satoshis (approximately 0.002 dollars).
The creation of a casino with Online Casino Market
This firm has been dealing with the launch and promotion of gambling projects of any complexity for many years, and its offer includes:
- creation of casinos on a turnkey basis;
- all kinds of software (from popular slots to payment processors and the software for VR and live casinos);
- high-quality marketing tools and advertising campaigns;
- ability to make a unique slot game using the HTML5 technology;
- affiliate programs;
- casino licenses;
- high-quality technical and legal support.
For all questions, please write to us:
- in Telegram: @spinwin;
- by e-mail: firstname.lastname@example.org;
- in Skype: slotsmarket;
- via the feedback form.