How to Start Your Own Casino: What You Need to Know
The world of internet gambling has been tremendously profitable for many years. If you have already heard about online casino business opportunity and thought about the possibility of creating your own enterprise, then you know that this business can bring a solid profit to the owner with minimal investments. Companies offering turnkey online casinos creation often deliberately overlook some of the complexities associated with such business.
The Rosloto company is worried about its customers, that is why we warn our partners in advance about possible difficulties offering the simplest, the most comfortable means of resolving technical or legal problems. We are providing you with this information that may help you avoid common mistakes and allow you build your own successful business.
Any business is subject to certain risks, and an online casino is no exception. The creation of an online casino on a turnkey basis involves the development of a detailed project strategy.
You may open online casino following these steps:
- Solving legal issues.
- The development of a technical strategy.
- The development of a marketing strategy.
- Budget planning.
- Launching the casino.
Solving all these issues (from choosing a hosting service and online casino software for sale to adding an option to pay with bitcoins) without proper experience can require too much of your time. In this case, any mistake will cost the owner a large sum and may endanger the whole enterprise. Now, we would like to look at each step that will be taken by anyone who has decided to create an online casino and discuss the most common problems and risks associated with this process.
The Development of a Turnkey Online Casino: The Analysis and Assessment of Risks at All Stages of the Process
A casino business is a profitable yet rather risky activity. Before starting your gambling establishment it is crucial to assess all the risks and find out if it is possible to do on your own or better contact the professionals.
To protect yourself and your company from a huge number of problems, a businessman simply needs to understand the specifics of the legal regulation of the chosen industry. Creation of a turnkey casino is impossible without solving a number of legal issues. To date, all online games require compulsory licensing, which is why developing an online casino without first choosing a licensee and obtaining a permission may turn out to be a fatal mistake for you.
A licence needed to open online casino may be obtained in two ways. You can apply for help from offshore states, or you can take advantage of the possibility of licensing in the EU countries. Both methods have their advantages and disadvantages associated with the cost of the resolution and the time necessary to obtain it.
After obtaining a license for creating an online casino, you will also have to register a legal entity: register a gambling company, open a bank account and sign corresponding agreements with partners.
The whole process of resolving legal issues usually takes from six months to one year and a half, and the cost of a license can be 10-30% of the total project budget.
It is also worth noting that it will be very difficult to deal with all the details of the legislation independently. This means that in this process you will need the help of experienced lawyers whose services also cost a lot.
An alternative to this approach is the creation of a turnkey online casino choosing a franchise or a White Label option. The last allows the business owner to buy from the licensed provider the right to use his brand and software, which significantly saves the entrepreneur's money and minimizes the risks associated with obtaining a license. In addition, the preparation time for launching your casino will also decrease dramatically.
You have an opportunity to reduce the time costs even more. We are talking about a turnkey online casino. This is a service that allows the business owner to shift the bulk of the concerns for opening an online establishment to experienced professionals.
This phase will depend on the way you choose to get a license before creating an online casino on your own. Buying a license from a White Label provider or creating an online casino on a turnkey basis will allow you to shorten the time for this step since along with a brand or a license you will also purchase the ready-made software.
However, the creation of an online casino on a turnkey basis, popular with players, will be impossible without some interesting slot machines. If you want to supplement the range of games purchased within a White Label solution or decide to avoid buying a ready license, you will have to look for and analyse the proposed software.
A high-quality game product that is potentially popular with the users must certainly have a number of important characteristics:
- support different payment options;
- provide a reliable protection of user and casino data;
- have an attractive design and a user-friendly interface;
- include a system for managing players, challenges and affiliates;
- allow the administrator to set their own bonus system settings, and so on.
Besides, when buying game software from a provider or ordering the creation of a game from scratch, you should also be concerned about the availability of product updates and technical support from the provider. Real professionals among gambling providers for online casinos always offer the client a complete package of services, including these opportunities. Such an approach allows you to simplify and accelerate the creation of an online casino on a turnkey basis ensuring the high quality of the final product.
Before you create an online casino turnkey, you will also need to elaborate a detailed plan for the marketing strategy of the project.
To attract players to your online casino, you will need to study the competitor’s products and find your niche. By offering customers the most favourable and enjoyable game terms you can become the first in the market and win the trust of the users.
No matter how beautiful and convenient your casino is, ordinary players will not be able to recognize this without your active participation.
Creating a turnkey online casino is impossible without the development of a marketing strategy. Understanding the laws of modern marketing is not easy, and therefore we recommend that you seek help from qualified experts to promote your enterprise. They will help you identify suitable channels of communication with players, develop bonus systems for regular users and agree on the strategies of the company's affiliates.
After you determine the sum of costs required for advertising, purchase of a license and software, it is necessary to build up a project budget for at least twelve next months. The costs of those businessmen who are only beginning to pour into this niche will significantly exceed the budget of experienced players in the market. However, with the right approach, the expenses for creating a turnkey online casino will be repaid very soon, and you will be able to gain credibility and trust from the players thereby ensuring your project’s stability.
Beginner companies in this market creating a turnkey internet casino usually spend about 30% of the budget for software purchase, 15–20% for a license, 3–7% for company registration and 10–20% for hiring staff.
During the first year of work, you are most likely to spend up to 10% of the budget for buying licenses, approximately the same sum for technical support of gaming software, 20-30% for salaries for employees. The largest share of the budget at this stage should be spent specifically on advertising. Marketing services at the start of your project will cost about 50% of the total budget. The experience of many of our clients shows that the development of the casino will soon pay off with such an approach. In the future, with the same budget, the company will be able not only to make a profit but also to develop rapidly.
When all the preparatory stages are completed, you will have to wait. A team of experienced developers and designers will be able to launch your project in the work in one to three months. Before the casino starts accepting the first players, specialists will need to develop the final design of the site, install and configure all purchased games and integrate them into the casino software.
Now, the creation of a turnkey online casino is finished. You will have finally become a happy owner of a wesite that attracts gamblers with favourable terms and a convenient interface. If you did everything right at the previous stages and now your casino stands out among hundreds of products of competitors, now you only need to ensure a reliable operation of the service, round the clock technical support of users and wait for profits.
As you can see, creating an online casino on a turnkey basis is a complex and multifaceted yet interesting.
The Rosloto company has a tremendous experience in launching online casinos in various markets and with any budgets. We know which pitfalls may wait for our clients at all stages of this process and provide comprehensive support for any online casino business opportunity before and after the launch of the website.
You can order the creation of a turnkey online casino from our experienced professionals and build your own successful gambling project.
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