What is necessary to run your own online casino?
Internet casino is considered to be one of the most profitable and promising types of business. But to receive money from this project, you must responsibly approach to all aspects of entrepreneurship, because otherwise you'll fail.
Many mistakenly believe that it is very easy to launch a new online casino. Practice shows that it is not easy to run online casino, it's almost same as running real gambling establishment and in certain circumstances - even more difficult. However, Internet business will save you from physical threats.
Let's look at the main stages of creating a new online gambling project:
1. Business plan
This will be your guide, which will help you not to go astray and confidently go to the goal. Before opening a new business project, you must plan your actions in advance. It will be optimal if you immediately analyze the potential costs of the goals you've set.
In which countries of the world do you want to work? Are you planning to enter the international level? Top-priority target - top markets or developing countries? What entertainment will be main in your casino? And what about money: will you work with ordinary money (dollars, euros, regional currencies) or will you use a crypto currency? All of the above nuances will determine the further development of the business plan.
2. Registration of gambling business
The gambling business will have to be registered in one of the jurisdictions that officially legalizes gambling activity and allows licensing of foreign agents. Admittedly, in most cases, the regulator requires that the applicant draw up a new legal entity in the country, which he chose as a licensee.
A good license is not a cheap one. You should choose licensor based on your goals. If you are targeting serious markets with the most solvent audience, then in that case you need a solid license in one of the EU countries. With a different scenario, you can easily limit your registration to the territory of Curacao or even Costa Rica (the most popular offshore for gambling business).
The cost of registration in the offshore zone usually does not exceed 10-12 thousand dollars a year, without additional fees and taxes. An authoritative license will cost at least $ 35,000 per year. It will also be necessary to pay a number of fees and charges, provide financial statements and pay taxes.
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3. Software - the key to success
Software is the foundation of your business. The level and advancement of software directly depends on how easy it is to manage a business and monitor all processes. Also, high-quality software will allow you to compete with other web casino owners and get a share in this niche.
Smooth interface, beautiful design, convenient navigation, the most simplified registration procedure - that's what a modern gambler needs. In no case should we forget about the security system, because otherwise the horde of competitors will destroy your project completely.
As for the need for a downloadable client - forget it. 2017 is ended, we in 2018th already. The modern user is not interested in cluttering their devices with all kinds of junk in the form of online casino apps. It is much more important to take care of a qualitatively optimized mobile version, which allows you to access the casino by using a smartphone web browser.
The cost of the software varies depending on the manufacturer and the number of functions. The price starts at $ 10,000 and up to $ 1 000 000.
In modern conditions, it is important to offer as wide choice of entertainment options as possible. On the other hand, the more games you want to get license for, the more money you will have to invest in it. So in this case we have a real double-edged sword.
The backbone of any online casino is video slots. To understand how to play a modern slot game, it is enough for an ordinary user to spend a few minutes. However, from time to time, the gambler may want to dilute his leisure and try something new.
There is no one in this world able to cope with the administration of all processes alone. The current platforms are equipped with perfect software modules that monitor all the events 24 hours per day and 7 days per week, and take appropriate measures.
Modern software is able to independently maintain reporting, collect statistical reports on activity and financial transactions, monitors attendance and lists of users who have not appeared on the website for a long time.
But all this requires constant maintenance and control. To my great regret, the neural network has not learned how to work as technical support. The same goes for marketing and promotion over the Internet.
The least minimum in terms of investments - $ 20 000. But this sum is pretty low and it will be hard to operate with such foundation.