Do you plan to launch your own Turnkey Online Casino? And at the same time, you don’t know how to start this deal and have more questions than answers? We have prepared a guide that will help you shape the right approach to running this profitable business.
What expenses are unavoidable at the initial phase? How can you determine your target market and find the right software vendor? Is it significant to connect the specific types of games? Find the answers in our article!
Budgeting
What influences the cost of developing and promoting an online casino? There are many factors here: the cost of the gaming licenses and services of the software providers, the complexity of the functionality, and the amount of customization. The cost of promotion is influenced by the specifics of the market and the selected channels for promotion, the number of competitors in the region.
Take a look at what the average distribution of costs for online casinos looks like before launch. This budget allocation is scalable and depends on factors which are described above.
The budget distribution will change after the product launch. For example, marketing costs will increase significantly. The taxes depend on the size of GDR and the type of license. The cost of the software provider’s services is determined by the agreement between your company and a vendor.
BetForge is an exclusive and high-quality gambling solution. The cost of platform setup is three times less than the average installation cost.
Selecting target markets and licenses
Choosing a market is a significant step in the gambling industry because it influences the kind of gambling license you will obtain.
Some countries regulate online casinos by law. For instance, the UK, Italy, Germany, Estonia oblige all online casino operators to obtain a local gaming license to operate on their territory. In Lithuania, Greece, and Portugal, only local operators must obtain a national license, while foreign operators can work with any license. In some countries, online gambling is regulated by federal law – this approach is used in the United States and India.
There are also many markets where online casinos are not regulated and there are no requirements for operators. In some countries, online casinos are prohibited and the sites of foreign operators are blocked (China, Russia, Turkey).
We advise you to pay attention to the restrictions concerning the activities of online casino operators: obligatory local gaming license, the conditions for obtaining it, permission to advertise online gambling, and the existence of a gambling monopoly on the territory of the country.
The choice of a license is based on the following factors:
- cost and taxes,
- complexity and speed of receipt (fast option – Curacao, registration takes from 4 up to 8 weeks),
- validity,
- status (especially important for large operators).
There are six of the most popular gambling jurisdictions: Curacao, Alderney, Isle of Man, Gibraltar, Malta, the UK.
The choice of target markets depends not only on the jurisdiction but also on the demographic factors and the popularity of online casinos among the population.
Registration of a legal entity
The gaming license should be obtained by the legal entity representing your business. You have to register a gambling organization, open a bank account and conclude agreements with payment system providers.
Tips for opting payment systems:
- Enter into the contracts with several providers so that your clients have the opportunity to operate with money in any convenient way.
- Choose reliable and reputable providers.
- Focus on the target markets to select the payment systems which are available for the region.
We offer our clients a convenient option, which allows connecting a secure multicurrency solution and integration with popular payment systems (more than 40 providers to choose from).
Thinking about a software vendor
We recommend you ask a potential vendor to estimate the development time of your Turnkey Online Casino. On average it takes two or three months.
We have been developing gambling solutions since 2009, and have accumulated experience to provide Turnkey Online Casino in one month.
The main detail is a team experienced in developing gambling solutions. Also, pay attention to the security and financial transparency of the platform, the set of games they connect (for example, we propose our clients more than 4000 games from more than 50 providers), the attractiveness of the design, and the level of its customization, the availability of technical support in obtaining a license.
It would be great to clarify if the software provider can implement custom functionality and additional services in the case you want to expand the functionality (for example, you need progressive analytics or a cryptocurrency wallet, or you plan to launch an Online Sportsbook).
Choice the set of games for online casinos
We recommend connecting the famous and demand types of games: slots, roulette, poker, blackjack, and bingo. It will be more profitable if an operator adds new products to the classical set. It makes your site more attractive to gamblers and helps increase user engagement.
We suggest considering the opportunity of connecting live casinos. This type of game with real dealers helps to add excitement and retain players.
Many operators connect Sportsbook to their online casinos to bring bookmakers to the site.
Our experts are ready to advise on Sportsbook or help you integrate this solution. Contact us by email: hello@betforge.io
The most expensive and complicated part of the business is attracting players and earning their trust. This task is realized with the help of a high-quality marketing strategy, which is carried out after the launch of the casino and is constantly improving. First of all, research all marketing activities of your competitors: their affiliate programs, advertising campaigns, media materials, sites where they advertise.
Based on competitors’ experience, you can build an initial marketing plan for your gambling product. Pay attention to the opportunities for promotion in each region: somewhere advertising is allowed at certain hours, somewhere it is fully prohibited.
We advise you to consider motivational tools such as bonus programs and loyalty programs for regular players to increase player engagement.
Continuous analysis of results, identification of weaknesses, creativity, and a variety of methods will help your business grow.
Turbomates Soft has implemented over 100 iGaming projects and we are happy to help start your successful online casino.