Welcome to the wonderful world of online casinos.
Online casino gaming is a popular form of entertainment, and if you’re thinking about starting your own business in the gambling industry, you’ve come to the right place. The following steps will help make your journey as smooth as possible. Is it legal to start an online casino?
Yes, it is legal. However, you need to check with your state and local law authorities before starting an online gambling business. How much money do I need to open an online gambling business?
How much is it worth to have an online casino? I cannot know the answer. The online casino development phase is typically more of a spending exercise than the maintenance phase of a project. The most money-exhausting items are marketing and promotion which account for nearly half of the overall costs.
Still, let’s see if we can make an estimate: Gambling License Fee
A license fee can be anything between $35,000 to $100,000, depending on the country. One of the most popular legislations is based in Malta, where you can get a gambling license for €25,000. Setting up an online casino in Malta is known to be the easiest and most profitable. Marketing
Since gambling is one of the most competitive industries, marketing can cost a lot of money if you want to promote your business properly. The best marketing strategy for an online casino platform is to make your website as appealing as possible. This means no popups, bright banners or annoying sounds. In most cases, you can expect a marketing budget of around 40% of the expected yearly revenue from the project.
In most cases, this figure would be between $250k and $400k. Technical development/ setup fees
Depending on the game providers, these expenses may vary significantly. Some developers charge upfront while others prefer monthly fees paid in advance. The average fee for gambling software is around 5% of the projected annual turnover from the business. So if your site is expected to get 1 million visitors per month, you will need between $25k […]
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