Passing verification in a licensed club is safe since such casinos take the confidential information of players seriously. Violation of this agreement can lead to serious penalties.
Gambling seems very suspicious for most people, especially those who don’t play online games for money. The stereotype that online casinos are all cheating and don’t actually pay out is true only for the actual frauds. There are many fraudulent casinos on the net that you can easily stumble upon.
However, the picture is not that bleak. The fair gambling sites exist too. And there are a lot of them. Such online casinos take care of their customers. The players get the appropriate support and overall service including constant payouts.
If you have experienced gaming with frauds, you obviously chose the wrong casino. What you need to do in order to avoid the ‘bad’ casinos is to follow simple rules. The recommended actions won’t take much time but they will certainly save your wallet.
- Make sure the casino is totally safe. The legal site must have the license. This document proves the online casino operates under strict regulations. The reputable licensees are Malta GA and UKGC. You can also meet some others like Curacao or Costa Rica. Though the latter is not recommended.
- The certified games. All games are supposed to be randomized. Thus casinos cannot rig them. That is why there are authorities that issue RNG certificates. They are mainly eCOGRA or Independent Auditors. They carry out tests of games on a regular basis.
- Known owner. Apart from the license sign, the main webpage of fair online casinos should contain info about the head company. You can even search for the company reputation on the Internet.
- Feedback matters. There is no better proof than the real players’ experience. You have to search for the comments on your selected online casino. Pay attention to mostly negative ones. As a rule, they are more real. Consequently, they can pay you out.
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.
We recommend you to study the software from popular NZ manufacturers such as NetEnt, Playtech, Microgaming. These brands have many slot machines with minimum bets of 0.25 to $1. In this case, a deposit of $5 will be enough for you to play and receive a win.