That is quite reasonable why a person might get a thought of starting its own online gambling business. It brings much profit, especially nowadays when online related industries are at the top. Just like the huge yearly revenues of online casinos, one has to spend the big sums of money for the business launch.
Gambling business requires many responsibilities and attention. The known stereotype about casinos that they are always cheating impose additional obligations on the casino owners. They have to license their business activity, get special certificates and constantly prove that they are safe and fair.
This ‘proof’ costs money which you as a potential owner need to pay at the very beginning. All the licenses, certificates and security technologies are the first instruments that you have to think of before you start. Not a single high roller or even a regular player will make funds into an ‘unknown’ casino without an official license.
However, in order to receive a license you need to accomplish several steps. First one is to create the company according to the laws of the country that allows running online casinos. They are usually small countries like Malta, Costa Rica, Gibraltar or it can be the UK, by the way. The company registration cost varies. In the UK it’s 550 euros, in Costa Rica you would have to pay almost 3,000 euros. However, Gibraltar and Curacao don’t take charges at all. So, let’s take the average cost of the registration of a legal entity – $1,000.
The site content is the most important. It’s the face of the online casino. The real money attractive games are what people come for to the online casinos. Basically, you need to make a deal with at least one software provider and have a minimum of 500 games in your casino lobby. Nevertheless, the more games and providers, the more customers. The price is different again. It varies from $10,000 to $150,000. It depends on the provider reputation and amount of games you purchase. Mind that you will have to pay commission from each game. About 15% from one game revenue goes to the provider. Averagely, you could pay about $50,000 for games including commission.
Finally, you can apply for the license. This step allows you to host servers and represent casino games worldwide (where they are accepted by laws, of course). Generally, the licensee is based in the same country where you registered your casino business. Accordingly, the price varies. For example, in the well-reputed Malta you can get the MGA license for about $18,000 + the same for annual fee, in total over $35,000. In Costa Rica you’ll pay totally $50,000. Besides, the license doesn’t last forever. It’s issued for several years. On average, 6 years is the expiry date. So, let’s assume that the first licensing costs $50,000 including the cost itself and annual fee.
Your casino site should be, first of all, clear and easy to navigate. Whenever a visitor enters the site, he or she must understand what the casino offers: games, bonuses, banking options, support, security and etc. Clarity, transparency and availability of all website options. The whole development of the website costs from $10,000 to $50,000. Though we can’t deny additional losses. Let’s take $50,000 for the website development stage.
This step is necessary for all businesses. In order to let people know about you, you need a marketing plan including advertising, SEO content and affiliates. Your minimal marketing losses can be $20,000. However, it doesn’t make much sense as it pays off quite a little. For the good profitable marketing system you can pay $100,000 and even $200,000 monthly. Additionally, you will have to pay a fixed sum and sort of 20% commission to the partners that brought you clients. All in all, for the advertising stage we have approximately $100,000 a month which annually is $1,200,000.
Here you should include, first of all, salaries for your staff. It should be a whole team of specialists in the fields of design, web development, security service, support, sales and marketing, finance and copywriting. In addition, you will have to maintain the site and its security system annually. The total cost of this all will be about $500,000 a year. It depends on the salary amounts you can afford, of course.
This is a specific amount of money you save in the bank as a guarantee that you are able to give payouts to your players. It can’t be used for taxes and other expenses. This is a necessary fund, and its minimum depends on the registration country. It will cost you about $100,000.
If we consider each expense given above, the online casino site costs $1,951,000 at the start. Still, you have to understand that this sum is not exact. In reality you may pay more or even less. Anyway, considering all the necessary and additional expenses, you need to have at least $2 million in your account to open and maintain the casino site during one year. With an excellent marketing plan you can compensate for the losses during a couple of years, or even less period of time.
Using bonuses is one of the profitable methods to make money on online casinos. In fact, many gamblers have built up a strategy of making money on bonuses only. They’re not really interested in the games.
There is one condition under which players get the bonus money. It’s the terms. As you know, every bonus has T&Cs. Generally, these terms include wagering requirements like you need to spin 50 times before actual withdrawal. The terms are the point.
You have to search for the online casinos that have the following or alike phrase in the bonus terms: “…Bonus offer can be withdrawn at any time”. If you have found this, it’s comparable to a Jackpot. After you have deposited the minimum required, got the bonus cash and met all the terms, you can request the withdrawal. Absolutely without a risk of being banned for bonus abuse. However, it doesn’t mean that you will win. You can equally lose some rounds while you’re completing the requirements.
Table games & bonus
Using bonuses in table games is another strategy to make money on bonuses. It is known that table games have the highest RTPs, which means a player can have increased probability of winning results. The idea is that you deposit, get the bonus and meet the requirements while winning in table games. No doubt, you have a risk of failing rounds too. When you complete the terms, you can successfully finish the game and withdraw. Mind one thing: check out if the table game you select is valid for the bonus. Otherwise, you can’t use the offer in your favor.
What to do if you have lost the game, and haven’t yet met the requirements
You need to deposit once again. It may sound insane, but it’s the only way to take advantage of the bonus. After you finally complete the terms you can play a bit further if you have nice results. But don’t overspin. Some rounds can be failing.
Almost all online casinos are easy to register. Many of them have quick registration, where you only need to enter your email and the currency you want to play in. After that, you get your profile and the opportunity to play slot machines on the casino website.
Since online gambling has become legal in New Zealand, the citizens one by one began to play casino games from their homes. However, there is one thing necessary to mention. The New Zealanders are permitted to play at the international online casinos only. Later, they have formed a list of the most popular online casinos among kiwi players. These casinos according to the users’ experience are safe. The New Zealanders trust them and receive real money.
This is the exact list of the online casinos that are played most in New Zealand. If you join one of them, you can stay assured, you play and win.
- JackpotCity. The highest rate of payout (97.84%) proves the popularity among New Zealanders.
- BetAmo. Payout of 97.83% and over 2400 games are what attract kiwis most.
- Spin Casino. Spin suggests to play high quality games and get fast withdrawals with them.
- LeoVegas. Nice benefits and safety are guaranteed at LeoVegas.
- Ruby Fortune. Most playable on mobile.
- Royal Vegas. Pays NZ$1200 at the start.
- PlayZee. Lightning fast payouts and the NZ$1500 for the beginning wait for more New Zealanders to play.