How to withdraw from online casino?

If you open the terms and conditions of any banking method and casino, you will see different policies. Kiwis may face a minimum deposit of $1, but usually, the minimum deposit ranges between 10 NZD and 20 NZD. However, the cash-out limits are higher and ranges between 20 NZD and 60 NZD. In most casinos, there are no fees, however, read the rules before entering the casino.

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.

Registration

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.

Gambling platform

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.

Licensing

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.

Website development

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.

Marketing

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.

Casino maintenance

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.

Payouts guarantee

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.

Total calculations

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.

Why should the casino be licensed?

Casinos from our list provide licensed activities by reliable regulators. The security of any casino comes first. That’s why licensing is very important in gambling sphere. Gambling authority issues a license. Every platform that provides wagering, in particular slots, is required to receive a license. Reliable regulators make a full casino check in order to prove its fairness.

Here are some facts about casino licenses

• Doesn’t matter how many gambling licenses casinos have. In order to start a full casino operation, it has to receive a license. In fact, casinos must be registered under at least one jurisdiction. However, when casinos try to build trust among players, sometimes, they just get the licenses by easy authority. They get it without any problems. As a result, they receive several non reliable licenses, without having at least one with a responsible attitude.
• Players don’t pay attention to the license. If you don’t care about the casino license, please, make sure to check and be careful about it. It’s very dangerous to fill in your personal information with banking details to scammers and lose money.
• Licenses are not equal. We’ve already discussed that there are many casinos under different jurisdictions. However, not all of them provide equally reliable service. Some of the most popular regulators: Malta Gaming Authority, UK Gambling Commission, Curacao eGaming, Kahnawake and Gibraltar Gambling Commission.

How to identify the license?

Most casinos show the list of licenses and other certificates in the bottom of the home page. You can easily scroll down and see the stamp of a certain regulator. Moreover, there is a possibility to find the casino on the website of a licensor. For example, the UK Gambling Commission provides a list of casinos on their website.

Conclusion

In fact, gambling licenses are very expensive. As a result, casinos, which have a license, have to be very serious about gambling activities and customer satisfaction. They can guarantee trustful and fair experience for all players, especially for jackpot winners.