Today everyone knows that online gambling business is very good investment. We have repeatedly touched upon this topic and provided numerous examples of online casinos success. While many companies and websites areriddled withthe statements that to create online gambling project isas simple as ABC, it is not quite correct, since creation of a profitable casino is complex and multilevel process.
Each project begins with a detailed business plan, which includes all basic calculations, the most promising way of business development and program of all business operations. Moreover, some jurisdictions that provide gambling licenses ask operators for a business plan when applying for a license. Thus, business plan is the first step of project creation, because it is the document that helps operators to understand how much money they need to invest in the casino.
How much does it cost to start an online casino? Emergent entrepreneurs often ask this question and, of course, everyone understands that this question can not be answered by naming certain amount of money, while this sum depends on many factors and components of the project. So what are the main areas of expenditures in the process of casino creation? Let’s consider fundamental features of a business plan.
Stages of a business plan for online casinos
- The cost of a license, which is to be bought obligatorily before starting the project, depends on the jurisdiction and type of online gambling venue. Theaverage cost of gambling license ranges from $ 10 000 to 50 000.
- The next step is to buy software. Platform, game content and other essentialsoftware will be the largest part of the investment. Software if buying directly from world famous manufacturers may cost more than half a million dollars. Only large or network companies with multi-million dollar budget have the opportunity to cooperate with top manufacturers. Other companies and entrepreneursusually rent desired software from larger partners. In such a case branded software may cost from several tens to several hundreds of thousands of dollars, depending on the purchased goods.
- Integration of payment systems, creation of a website design and other casino platform configurationscan be made by the operators according to their preferences.
- Then it comes to the provision of technical support for the website. At this stage, it is important to organize website operation taking into account that it will function around the clock. In addition to high-quality 24/7 technical support it is necessary to find employees who will be able to serve customers non-stop and provide uninterrupted and high-quality operation of the online resource. It may be one additional administrator/manager or a number of people, including cashier, chief manager, night manager, etc., depending on the needs of your casino. Responsibilities of the casino staff should be shared in such a way that each employee has access to a certain part of the system only. Personnel expensesshould be taken into account while working on a business plan as well.
- The next step, which also will cost operator a vast deal of money, is the promotion of gambling website. There are many marketing tools for the website promotion and each of them has its own price. You can use less expensive options such as SMM, e-mail newsletters, SEO, affiliate programs, etc. But in any case, it is necessary to use almost all available promotiontools, because to use only one of them would be not effective. Marketing strategy should be well-advised and well-thought-out.
Thus, considering all the stages and necessary components, the price of the creation of gambling project from scratch may be very high and the budget may wellrun into six figure sum.
What are the alternatives?
Today White label solutions may be a good alternative for operators who do not have such a huge funds, but still want to open their gambling business. There is nothing wrongabout buying a turnkey onlinecasino; in fact it is ready-to-launch project, which can be customized according to your needs. Its price will be tens of thousands ofdollars and notmillions.
Let’s consider such turnkey offer in terms of Slotegrator White label solution.
We offer operator a turnkey solution, the price of which includes the following:
- License of Curacao - one of the most popular and respectedgambling jurisdictions.
- Connection and registration of individual online casino domain. If necessary, we will help you to choose suitable name for your website, located on secure and proven European servers.
- Development of exclusive design of online casino website. Professional designers will take into account all individual requirements while creating an exclusive website design according to operator’srequirements specifications.
- Creation of unique structure of online casino website. Operator is able to control the structure and content of the site.
- Integration of bitcoin solutions – on request of the custommer.
- Further development of the platform and its functional adjustment according to individual requirements.
- Integration of payment systems (Visa, MasterCard, Skrill, Neteller, etc).
- Integration of games - game content will be chosen according tooperator’s request. Slotegrator offers a wide range of different games from the world-famous providers.
In addition, operator is to make certain deposit which will be spent for winnings payouts, as well as advance payment for the credits for game.
And then the casino is considered to be opened and ready to meet itscustomers.
You can get more information on prices from Slotegrator managers. After communicating with them, you will be sure that to open a high-quality and profitable gambling venue is possible and it doesn’tcost an arm and a leg.