Online gambling has always been one of the most lucrative and desirable areas to explore for business owners despite of whether they have experience in the field. In order to open a successful online casino that will benefit an owner and bring pleasure to customers, one needs to follow the proper sequence of steps paying serious attention to all details. As an online casino software provider SoftSwiss is glad to share its experience to help future online casino owners avoid common mistakes that may impede business launch, inflate budget or even close the business down.
- How Much Does It Cost To Open A Casino Atlantic City
- How Much Does It Cost To Open A Casino
- How Much Does It Cost To Open A Casino Open
Step 1. Preparation
Seating for horses and # of tellers aren't as much as before casino; you can find a TV table easily on non-peak times. Gambling is good business, or at least a profitable one. According to the American Gaming Association, in 2012 the 464 commercial casinos in the U.S. Served 76.1 million patrons and grossed $37.34.
a) Legal issues
Online gambling is a subject to licensing, thus an essential thing is to think about choosing the jurisdiction and obtaining a license. There are two main venues where it can be done: offshore countries and the European Union countries. Each has their pros and cons – budget, time, reputation. Usually it takes from a couple of months to a year to obtain a gaming license, for example, 6 months in Malta.
The next step after choosing the jurisdiction is to register a legal entity – a gaming company, opening a bank account and making agreements with payment system providers which will make the legal and financial infrastructure complete.
As an alternative to this method there is a “White Label” scheme which means leasing of software together with the gaming license and financial infrastructure from a software provider and operating your casino under your own brand but with the ready-to-use infrastructure. Such a scheme protects from excessive legal and banking bothers but involves additional costs.
b) Software
As soon as all legal issues are investigated separately or simultaneously, it is time to choose a professional online casino software provider. While searching the market it is wise to evaluate the price and quality balance. Besides the attractive design and a set of popular games, a quality product shall also include a reliable gaming platform which allows for effective management of casino business and includes the following components:
• CMS
• Player management system
• Bonus and promotions management system
• Game management system
• Payment system management interface
• Cashier system
• Reporting engine
• Support of different roles for administrators
• Affiliate management system
• Anti-fraud system
• Retention email system
• Player management system
• Bonus and promotions management system
• Game management system
• Payment system management interface
• Cashier system
• Reporting engine
• Support of different roles for administrators
• Affiliate management system
• Anti-fraud system
• Retention email system
Regular software and game updates, hosting and technical support shall also be part of the provider’s package. Professional suppliers always take the responsibility for the full technical support of the after-launch product operation.
The software package that includes all of the above components might be on the upper edge in terms of costs, but the financial investments are worth it because as a result you get a reliable partner ready to support you during the whole project life cycle. Be aware of the fact that buying a cheaper solution might result in double spending in the future.
c) Marketing planning
An effective marketing strategy is a key point to online casino success. At this stage it is strategically correct to make a rigid competitors research. First of all, it will provide you with a full picture of the market: who the leaders are, what strategies they use, what return on investment they get, etc. Thus, knowing the game rules allows creating a unique offer which customers won’t be able to decline. Using the method of benchmarking plays perfect for the good of online casino success, and what is more important, it is free. Plan your marketing strategy by adapting the best practices of promotion, advertising, and brand development.
If a company starting an online casino is operating land-based gaming business, it is crucial to bring the existing clients to play in Internet casino by offering attractive bonuses and thus developing loyalty and respect to the website. Any know-how are always welcome but be aware of wrong calculated ideas from the mathematical point of view.
The next move is to contact internet marketing companies or individuals specializing in online gambling: SEO agencies, email marketing companies, media resources providing casino overviews, etc. This will help define the best offers on the market and choose the right partners before the website is ready to launch.
At this stage, it is also time to think about your future bonus policy and affiliate marketing strategy, as well as check if the selected software provides the appropriate technical opportunities.
At this stage, it is also time to think about your future bonus policy and affiliate marketing strategy, as well as check if the selected software provides the appropriate technical opportunities.
d) Budgeting
Once the costs for legal issues, software and marketing are defined, it’s time to plan your budget. The best option for startup companies is to set the budget at least for the first year of operation, whereas for experienced companies who are entering the igaming market, the budget shall be defined for as long as possible. Don’t plan your budget after setting up the online casino website, plan it before. If you are a startup-company you have to understand that your costs will be higher. Your goal is to earn trust of players from the beginning. Existing land-based brands already have trust.
Below there is an approximate expenses separation a future casino owner shall have in mind while developing a detailed budget within a business plan.
Pre-Launch expenses | After-Launch expenses, 1st year |
Company set up – 3-7% | Company running – 5% |
License set up – 10-30% | License fees – 1-10% |
Software set up – 25- 35% | Software support – 10% |
Staff hiring – 10-20% | Games Providers – 5% |
Pre-Marketing – 15-20% | Marketing – 50% |
Other costs – 5-15% | Staff – 20-30% |
At the pre-launch stage the biggest budget share shall be devoted to software set-up in order to provide future users with quality product. But after the launch it is vitally important to address half the funds to casino marketing and promotion.
Step 2. Launch
The time frame for online casino launch depends on both, business owner and software provider. Usually it takes up to 3 months for the provider to set up the software. It includes web site design, platform and games set up, custom settings and possible individual features. The business owner may speed up the process of launch by providing regular feedback to all questions that designers and programmers might have. Any issue can be resolved if discussed in time.
Besides, the business owner shall timely address the issues discussed above:
• Obtaining a gaming license;
• Opening a corporate bank account and merchant account;
• Making agreements with payment system providers.
• Opening a corporate bank account and merchant account;
• Making agreements with payment system providers.
Setting legal and financial infrastructure is the task that only the business owner can accomplish. In SoftSwiss we provide consulting services (best options, contacts, etc.) on such points but we can’t guarantee success as the whole responsibility lies on the business owner. You will have to collect a bunch of documents for lawyers and banks like certified passport copy, utility bill copy, certificate of non-criminal records…
Step 3. Marketing
The secret of the most popular and successful online casino success and popularity is not about the top-notch design or billions of games included. The best online casinos are simply designed and contain 500 games on average at the beginning. The secret is in responsible marketing strategy implemented on all stages of the project. Online casino market is an extremely competitive one: first, it is very hard to break into it, and then it is even harder to take a firm stand. Thus, a company has only one chance to win the fierce race among competitors. Below is a list of points that are vital for any online casino that is planning to be prosperous.
• Positioning – Gather professional marketing team and develop strategic and tactical development phases, announce your goals (business, company, brand), and mission. Determine what niche you would like to step in, how you are different from the competitors, what unique features your casino has, and what steps you are going to make further.
![How Much Does It Cost To Open A Casino How Much Does It Cost To Open A Casino](https://riversweeps.org/wp-content/uploads/2020/03/how-much-does-it-cost-to-open-a-casino-2.jpg)
Use only quality games from trusted game-providers. You can start your casino with a limited number of game providers, with focus on games based on HTML 5 technology. This technology allows users to enjoy rich graphics games and enhance the overall experience with playing casino games on mobile devices. At SoftSwiss, among our own high-quality HTML5 games we offer game content from the well-known providers, such as Amatic Industries, Microgaming, NetEnt, and we are sure about their quality.
• Prelaunch advertising campaign – Announce your casino, inspire your potential customers to wait for its launch; use all possible methods: online advertising, presentations, publications, etc.
• Online casino promotion after launch – Use SEO, online advertising, banner networks. Everything will work on such a competitive market.
• Client attraction and retention campaign – Establish an efficient support service or 24h call-center which your customers can address at any time. Take care of your clients by making navigation through the website: create “How to” sections or FAQs, write manuals on how to play the games, provide demo versions, make everything clear and understandable.
Develop a bonus system, make auctions and entertain and reward your customers all the time.
Remember! Only business owner can establish the right content on the page. The software provider should give you the possibility to work with the content, but not create the content.
Develop a bonus system, make auctions and entertain and reward your customers all the time.
Remember! Only business owner can establish the right content on the page. The software provider should give you the possibility to work with the content, but not create the content.
•Implement affiliate networks – Develop contacts with partners which will be an impetus to online casino development.
Additional Step 4. Bitcoin casino
Forward looking online casino software providers offer Bitcoin as an alternative payment system for their solutions. Online casino owners all over the world appreciated such advantages of Bitcoin casino as significant savings on license application costs and monthly fees, increased customer loyalty, fast payment processing and many more.
As an acknowledged Bitcoin casino experts, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the crypto currency, research on the peculiarities of Bitcoin gambling, and learn how transactions work by making a couple of bets at an existing casino. Understanding the core of the payment system is essential in business, moreover it will help to build a strong marketing campaign and further manage the Bitcoin casino. Contact SoftSwiss for professional advice on Bitcoin casino launch.
Managing an online casino is hard work but with all legal and financial issues resolved in a timely manner, quality software chosen and a strong marketing strategy in place, it can be successful. The demand for online casinos will increase – specialists predict 40% growth of this market segment in the nearest year. Following all the steps described above will help a newly made online casino to develop sustainably and outweigh the competition. Good luck!
Also learn how to start an online casino with SoftSwiss.
Online casinos have thousands of new users every day. Gambling lovers enjoy playing casinos on online platforms. The rising number of online gamblers makes the online casino industry much more profitable. Mobile phones and devices make casino games much more comfortable to play. That’s why business owners are more interested in opening online casinos for mobile devices. The question of how much does it cost to open a casino has become very interesting. Business owners want to know the costs of launching a casino business. In this blog, we will try to give you some information about the expenses of starting a casino business.
Investors are highly interested in the costs of creating internet casino games for mobile platforms. The prices of creating casino games for mobile devices may be higher than that for computers. It is mainly because mobile gamblers play the game in phone apps. The question of how much does it cost to open an online casino depends on the quality of the game. If the business owner wants to create a great game, he will spend more money. The variety of apps affects the costs as well. Expensive apps ensure a smooth gaming experience for gambling lovers. Let’s look at the expenses of opening an online casino for mobile phones.
Building a Well-Known Brand and Website
If you want to know how much it cost to open a casino for mobile platforms, you should start with creating a website. App for mobile casinos should be based on a website. The business owner should firstly purchase a domain name. After naming the casino, the business owner should launch the site based on the brand name. The price of a domain name usually starts from 30 dollars to a few thousand dollars. If the name is too trendy and fashionable, the price may be very high. Then, the business owner should buy hosting space for the website.
When the casino becomes full of various games, the owner will need a space. More space will allow the casino owners to include many games on the website. Space should be enough to be able to add hundreds and maybe thousands of popular slots games and casinos. The price of website hosting varies around 50 dollars. In the market, the average price is about 50 bucks. If the business owner wants to know how much does it cost to open a casino for mobile platforms, the initial expenses include domain and hosting. To build a mobile app for a casino game, the business owner must have a reliable website domain and host.
Installing a Mobile Casino Software
The next step, while considering how much it costs to open an online casino, is about casino software. Neither casino website nor mobile app can function as a gambling platform without software. The casino software enables the site or app to work as an online casino. Building online casino slots requires good software. The software purchase price starts at 10 thousand dollars. In the market, the average price for good and trendy software is around 12-13 thousand dollars. If the business owners want to be successful, then they should get software for average or more than average price.
Software prices vary due to the model differences, as well. For example, the software for internet cafes starts at 20 thousand dollars. Mobile casino software maybe around 15-16 thousand dollars. The main reason for their high price is the additional installation costs and technical expenses. Also, business owners should pay monthly service costs to software providers. The monthly fees vary around 2-3 thousand dollars. The business owners may need to get some technical issues fixed. Also, the real money online casino needs to get updated with some popular casino features. While considering how much does it cost to open a casino and mobile casino app, the software price is essential. This is an important element while considering how much it costs to open an online casino and mobile app.
Creating a Mobile Casino App
Playing online casino slots on mobile devices is great fun for gambling lovers. Therefore, business owners should focus more on creating online casino mobile apps. Mobile apps are essential while considering how much does it cost to open a casino for mobile gamblers. The business owner should spend additional money for creating mobile apps. The starting price for a portable app-building is around 10 thousand dollars. Creating an app can be a time-consuming and expensive process. The business owners should spend a lot of money to get a good app. Smooth-working app will ensure fun for the players.
Mobile casino apps include many details such as menu, games, casino theme, etc. Also, mobile casino apps should be entirely based on the casino website. The app should resemble the website. To have a more precise app, the app developers should pay attention to the details. Excellent care requires spending more money, indeed. How much does it cost to open an online casino is mainly about building a mobile app. However, the gambling lovers will enjoy the attention to detail. If the casino lovers see the same games and menu features both in the app and website, they will love your online casino much more. Online slot machines will attract more players if the mobile app is precisely developed.
Casino License Fees
While considering how much does it cost to open a casino and website, the business owner should consider license fees. You cannot start an online casino freely. You need to get a casino license. The license costs around 2 thousand dollars. You pay the license fee to the software providers. The slot machine website cannot work without a casino license. How many visitors to las vegas each year. To continue the casino business legitimately, the business owner needs a permit. Business owners need to be careful because there are fake licenses in the market. Fake licenses can deceive casino owners at low prices. When the business owners consider how much it costs to open a casino and website, they should not hesitate to spend much money.
So How Much Does It Cost to Open a Casino
How Much Does It Cost To Open A Casino Atlantic City
An increasing number of online gambling lovers attracts many business owners to start a casino business. Internet sweepstakes cafes and mobile casino games create enormous profits for business owners. Mobile devices make casino games much more accessible and fun. That’s why business owners consider creating mobile gambling apps as a significant profit opportunity. Finding how much it costs to open a casino is very important. In this blog, we have tried to give some information about how much does it cost to open an online casino and mobile app. Let’s briefly remember them.
Firstly, the casino owner should spend around 100 dollars for a website domain name and hosting. Then, the casino software will cost approximately 12-13 thousand dollars. The monthly costs of casino technical issues are about 2-3 thousand dollars. Most importantly, the casino owner should spend money on developing a mobile app. Mobile app developers usually require about 10 thousand dollars. Also, the casino owner should pay for licensing fees that are about 2-3 thousand dollars. We have tried to give information about the high-quality mobile casino game. This blog has provided some insights about how much does it cost to open a casino and mobile casino app.
How Much Does It Cost To Open A Casino
Final Thoughts
Now you know how much does it cost to open a casino, there is nothing that can hold you back. You need to find out the available opportunities and invest in them. First of all, you should get a domain and build your website. Then, you can develop a casino app for your platform. In order to control both of these aspects and manage them easily, you need to get a casino software. After comparing the functionalities and costs, choose the one that meets your needs. From there you can run marketing campaigns and bring the target audience to your new casino platform.