How To Open Online Casino Business
To start an online casino one should consider the four main ways:
Jan 20, 2021 Online gambling is highly associated with the comfort it offers. Players do not need to follow the codes set by a given casino. Next to that, online casinos are available around-the-clock. Moreover, most well-established gambling sites offer a wide range of games. Online gambling is a prosperous business that makes a lot of money. PlayRiverSlot is a trusted provider of online casino software and games for several successful gambling casinos online. Also, we offer software products such as internet cafe software and sweepstakes. Our casino products are feature-rich and well endowed with the necessary tools to launch a business that thrives online. Choose a payment system provider. When you start an online gaming business, you need to make an agreement with a payment system provider, so you and your players can quickly and easily make transactions. For convenience purposes, it’s advisable that you provide players with multiple payment options. With the world of online gambling generating billions of dollars every year, there are some obvious attractions to starting your own online casino.For starters, increasingly sophisticated payment and back-office systems mean that it's far from the technical challenge it once was. You can own a casino, poker, sports betting with live scores and stats, bingo or general gambling website or you can start a niche website like Online Sportsbook Reviews for example. Sportsbetting websites are very popular with Sports Betting Tips providing a informative service and assistance to tipsters. Online gamblers are always interested.
1. Design and implementation of casino software by your own forces
This way presupposes the whole process of creation, implementing and marketing performed by yourself. This can cost millions of dollars to handle the issue of starting your own online casino by yourself.
PROS | CONS |
1. Full control over the casino | 1. Extremely expensive |
2. Source code ownership | 2. Approval from third parties necessary |
3. No Royalties | 3. Tough and expensive advertising and marketing |
2. Become a licensee of an online gambling software provider
This method means leasing online gambling software from a software vendor. This will be much less expensive in terms of money and effort. Usually online gambling software costs from $30,000 to $400,000 down-payment. In most cases you will be included into an already existing network, so less time and money will be spent by you. But software vendors work on a revenue share basis requiring from 30% to 70% of profits generated by you. Moreover, you’ll have to comply with certain rules set by the software vendor.
PROS | CONS |
1. Less money to start | 1. No full control over the casino |
2. Less effort for a casino set up and advertising | 2. Necessity to comply with rules of software vendor |
3. No need to be approved by third parties | 3. Monthly royalties |
3. Become an Affiliate of a licensee
This option is the least expensive. This scheme works as follows: you receive a casino website and make all marketing and advertising job and receive a small percent from a licensee. The average cost of such solution is from nothing to $10,000.
PROS | CONS |
1. Relative cheapness | 1. No control over business |
2. No responsibility | 2. Small profits |
3. No organization effort | 3. Full dependence on the will of a licensee |
How To Open Online Casino Business For Sale
4. Purchase Online Casino Software from a Developing Company
How To Open Your Own Online Casino
This option can be considered one of the best ways to start your online casino. You purchase ready-made online casino turnkey solutions from a software developer. The software is installed on your servers under the domain name you choose. All technical aspects like server configuration, software customization, design, and payment systems implementing is done for you by the developing company. The approximate cost of the solution is $60,000-$500,000. After you have purchased you casino you are provided with control and management tools and become the only owner of an online casino with no revenue share necessity.
PROS | CONS |
1. Full control over the casino | 1. Full responsibility |
2. No Royalty payments | 2. Licensing procedure done by yourself |
3. Custom made solution | 3. More effort on marketing |