How to Launch a Casino: What to do and in Which Sequense
Nowadays, there are about four hundred million people running a business, and this quantity is quite high comparing to the global population. Of course, all people choose activities according to their fancy taste but two things are essential for all of them: quick payoff and making money. And here, unfortunately, not every sphere of action can achieve these results.
The gambling business, or rather a private online gambling establishment, is among the few that can. For sure, this kind of activity has its distinctive features. But with a comprehensible approach to the matter, a good income can be expected. In this article, we will discuss things that are necessary to know if you are planning to launch your casino.
One of the most essential things to realise here is that you will have to spend a lot of money on the opening of a casino. It is difficult to say how much exactly it costs since many factors should be considered: a type of the license and the software, a number of casino games, etc. However, you will definitely have to invest a lot. For this reason, such a decision should be taken rationally and carefully.
It should be done very carefully by owners themselves with the help of the publicly available source or you can use outsourcing services and expect it is done by a consultancy. We think that it is obvious, what option is more correct in business terms.
The business-plan should consist of a description of the targeted audience, a current situation in the gambling market and its development trends in the selected countries, your goal and ways to achieve it, budgeting, and possible difficulties. Experts recommend businessmen to create three plans for the potential development: negative, optimal, and positive.
This procedure is not complicated at all. You can’t run a legal and transparent gambling business without a proper permission. However, things are not so simple here since not all jurisdictions issue it.
Below, you will be able to see a list of states with a good reputation in the casino industry where it is possible to get the necessary permit:
- Costa Rica has a cheap license, which is not difficult to obtain. However, it refers to data processing, not to gambling directly.
- Curacao’s permit has good credibility and it is more expensive than the license from Costa Rica but it involves an individual approach to all gambling establishments and a focus on American and Dutch players.
- Belize's license allows you to be engaged in such activities as gambling for land-based casinos, «one-armed bandits» gambling, and online casinos. Of course, to set up an online company, you need the latest license. Also, Belize grants permissions for the creation of a bookmaker's office.
- Belgium issues one of the most expensive though one of the most popular licenses. This country that is situated in Europe drafts a permit only after you meet some strict requirements and takes eleven per cent of the profit. But it is issued for fifteen years, so it is worth it.
- In addition to these countries, there are other popular licenses that are issued by the Isle of Man, Alderney, Malta, Estonia, and Kahnawake. But they all work with different types of activity, so you should take a close look at this issue.
In case you still have reservations about whether you will be able to pass this procedure without any assistance so we would offer you to consult an expert. There are many difficulties with the procedure of obtaining a license — it is time-consuming, expensive etc. — so you definitely will need some help.
Do not forget about sub-licensing as well when a firm that already has a permit writes another casino in the same document. It takes less time and financial costs. However, the company that was written in will have to follow instructions given by the licensee and give away a certain part of its income.
Never expect the gambling software to be inexpensive. You must not purchase it from an unknown vendor, much less a casino script (ready-made code) for five hundred dollars — it is too risky both for the casino and for gamblers since it can be created for fraudulent schemes.
You can either develop a gambling establishment from scratch or purchase of the so-called White Label casino. In the former case, things are quite clear: there is plenty of developers of casino platforms. Actually, it is a fair opportunity if you have an intention to run the business seriously and for a long time. It is very important to find out about the background of a developer before you decide to work with him. Read the feedback and ask him to demonstrate some examples of the already done work.
Such an offer as online casinos for sale should not be dismissed also. It happens that owners of gambling establishments decide to part with their business (for a number of reasons), so you should really think about this potentially profitable idea.
White Label casino
Such a casino is fully developed by a famous brand on a by-order basis, which means that operators do not think of anything connected with the foundation of a gambling company but in a rather short time (about several weeks) he gets a ready-made and already working solution.
What is its difference from a casino on a turnkey basis? The difference lies in the fact that here casinos use their own brands instead of someone else’s famous ones. This option is very popular with the beginning entrepreneurs since it is timesaving.
Online casino slots
There are thousands of games today, and their number continues to grow since the competition among casino owners is severe.
Here we offer you the list of software vendors with an excellent reputation and exciting slots:
- Novomatic (and its subsidiary, Greentube);
- Xprogaming, etc.
The creation of a slot game can be done according to your wishes if it is essential for you to know that your products are unique and can be found only in your casino. The choice of a vendor needs to be made carefully so that you do not have to re-do the software or order a new one. As an example, we can mention 2WinPower that has implemented thousands of projects. But first of all, you need to choose a developer based on the fact whether you trust him or not.
The promotion of a casino and the maintenance of its operation is a never-ending process that requires a lot of energies. And for a start, it is very important to be able to remain standing.
Speaking about business development, you have two options here: to stay in the same sphere or to change something. Today, more and more operators decide to work with bitcoin since it is secure, anonymous, provides quick transactions, and has no commission fee. So far, gambling establishments with such currency are not very common but the software for bitcoin casinos can already be purchased.
We can not inform you that there is also such a sphere as sports betting — a time-tested business that has first appeared in the days of old. Many people start to get interested in placing bets after playing in casinos. Also, purchasing the betting software is a very simple thing to do.
In conclusion, we want to highlight once more that it is next door to impossible to launch a gambling business without the assistance of experts. It is wiser to have the best opinion and spend some money on it than to lose much more.