How to Make a Lot of Money Through Online Gambling? Online Casino Market Answers
It is obvious that the best way to make a lot of money through online gambling is to launch your own gaming establishment.
Gambling business is a relatively new sphere on the market. At the same time, it has already divided into several directions for the operators to choose from.
That is why, if you want to launch your own gambling website, you may focus on one of these:
- online casino;
- betting shop;
- lottery system;
- Bitcoin casino.
Though betting and slot games have been popular for quite a long time, the gambling sphere has recently benefited a lot because of the modern technology boom. Ubiquitous internet connection was very soon complemented by convenient mobile devices that you can take wherever you go. This means you no longer have to visit a conventional casino or slot rooms. Your favourite games were always there for you. With this in mind, the statistics on revenue is quite reasonable — independent Agency H2 Gambling Capital calculated that by the end of 2018, the sphere of online gambling produced the profit of €44.1 million.
Moreover, the expected increase in revenue is going to rise up by 80% by 2023. That is why the most perspective way of making money through gambling business is to start your own online casino.
It is quite challenging to stand out from the crowd nowadays. You have to feel your clients and give them everything they need. For the beginning, it is very important to make sure that you provide them with the following:
- Availability. Let the players run their favourite games, no matter what their geographical location or time of day is. They should be able to access your casino as soon as they have a supporting device and internet connection.
- Anonymity and confidentiality. There is no need to implement multi-level identification procedures. This will only scare your visitors away. Give them a chance to use only login and password or access through a social network account. Inform them that personal data is stored on secure servers.
- Variety of gambling entertainments. Don’t make a mistake of offering a small number of games. We don’t recommend you to fill your casino with the thousands of slots and other stuff, but your clients must have a choice what to play.
- Multi-currency support. It is another strong advantage in favor of online casinos since virtual establishments have a possibility to offer payment processing services in several currencies, including cryptocurrency.
- Free games. Don’t forget about demo versions as a training course or just as a great way to spend quality time without the risk of losing money.
- Constant updating. Just think about it — for a conventional casino to upgrade its slots, it is necessary to hire at least a few technicians to make the improvements. An online version can be updated within a few minutes with a range of slots that a real-life casino can’t even dream of:
- three-dimensional graphics;
- storyline and skill games;
- live broadcasts;
- virtual reality.
Establishing your own online casino use this simple step-by-step guide:
The first big step is to legalize your casino. Top software providers aren’t interested in cooperating with illegal companies, meaning if you want to compete with others on the market, you have to go legal. Moreover, your clients will trust you more if they know you pay taxes for your venture. The offshore countries offer relatively low-cost license in comparison to the European ones. Thus, Gibraltar, Curacao, or Alderney require up to $20K with quite moderate taxes in the future.
To get an accessible resource that attracts clients, you should be able to deal with the following issues:
- Develop the general concept.
- Take care of the design.
- Order front-end web development.
- Integrate gaming software.
- Hire SEO specialists for promotion.
- Think of marketing advertising.
The average site will cost you up to $5K, with the subsequent upkeep of the SEO team.
This is probably the most complicated part since the number of software vendors on the market is enormous. Make sure that the chosen provider owns:
- Diversity of the games and their amount.
- Appropriate tools for business management.
- Latest technological innovations.
- Cryptocurrency support.
- Top-class marketing tools.
With all this in mind, an average package will cost you $5K, considering your preferences and the number of games.
This is the face of your casino. The more you are ready to invest, the better it will look and the more visitors it will attract. Skilful SEO specialists require, on average, $1.5K a month plus the resources for the advertising itself. Of course, you can hire freelancers that will ask for less, but you probably need reliability and professionalism.
Finally, the team that will always be there for your clients 24/7. It is wise to hire at least one highly trained tech support manager and a few other employees to keep up with the clients’ requests. Considering the salary of the staff and the necessary tools for the swift reaction to problems, you should estimate the total budget to be around $25K.
People spend half of their day communicating with others in virtual reality, entertaining themselves in the breaks. The availability of advertisement campaigns is huge, so it is not a big problem to organise them on all of these platforms.
According to the researches, more than half of gambling traffic from social media is located on Facebook. It offers convenient tools for you to promote your online casino on a legal basis. Be careful here — you aren’t the first to use it for such purposes, so make sure your content is unique and absorbing. Again, try to give the potential visitors everything they might need.
Another 20% of gambling traffic comes from this video source. Most of the channels monetize their content by including different kinds of advertisements within their videos. You can try either subscription method by letting YouTube locate your ads by itself, or contact the most popular bloggers and agree to promote your services directly in their videos.
If you want to go deeper, you may try hiring SEO specialists that will develop a blog that focuses on increasing the number of visitors on your casino as well as promoting your services within search engines. Even though it requires a bit more resources, this is a highly effective method indeed.
Another innovative way to go is to launch a Bitcoin casino. Сryptocurrency is a popular way of paying that grants several other features that a regular online casino lacks.
Bitcoin casino is capable of solving the following issues:
- Necessity for showing personal data.
- Unprotected financial transactions.
- Strict control of the government over funds transfer.
Since Bitcoin isn’t regulated by any of the banks and doesn’t obey any jurisdictions, more and more players prefer casinos with this payment method.
Nobody is able to track the transaction in Bitcoin currency — there is no passport data, and it lets operators avoid the strict control over money transfers.
Since the money isn’t an issue anymore, the calculating necessity is no longer needed, eradicating the requirement to obtain a license. So you can save a lot of money at the beginning as well as avoid extra fees later.
A lot of players are usually concerned about the money issue, but they can feel safe with Bitcoin casino. Actulally, there is no technology to steal from Bitcoin e-wallet/ The single thought that your clients will feel 100% safe guarantees you a constant flow of new players.
Still, the idea to open Bitcoin casino must be supported by the necessary resources to begin your investment. That is why we advise you to take care of the following things:
- Software. The reliable software providers can satisfy your needs and equip your casino with everything necessary, starting with $10K.
- Games. Your slots preference can include the already-designed features (from $500) to the uniquely developed ones that will meet your requirements and wishes (from $2K). I chose the second variant since I want my clients to receive an unforgettable gaming experience and evoke the desire to come back for more.
- Decent payment modules, security systems, and support chats will cost you up to an additional $5K, but they must be an auto-include if you want a fully-fledged online gambling platform.
- Hosting and domain. These ones are tricky because you need a powerful and trustworthy connection that won’t fail day after day. The average cost for the beginning is $200 per year, but the price tag will increase with the bigger amount of players.
We have already talked about advertising, but it is necessary to mention the main feature of my Bitcoin casino — cryptocurrency availability. Remember, the more you invest in ads, the more visitors you receive. Don’t limit yourself with a certain amount but, at the same time, don’t spend too much. Try to learn to balance between your profit and promotion expenses.
This is just a brief instruction on how to make money with the online gambling business. The scheme is always the same, but remember — you make it special. Of course, it is up to you whether to resort to professional companies and their turnkey business option, but even with this variant, they will consult you continuously to make your casino stand out from the crowd.
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