Casinos aren’t a business that can be started or run by just anyone. Even if you think you know all there is to know about running a successful business, the casino industry will prove you completely wrong. If casinos are your passion and you find yourself with a burning desire to own and/ or operate one, try an online casino. Online casinos are popping up all over the world and is an industry that is continuously growing and evolving. It is a competitive but also lucrative industry.
With that being said, let’s look at the cost of starting an online casino. One notable and perhaps obvious benefit and initial advantage comes from the fact that online casinos, like many online businesses have low(er) overhead. This allows financial and human capital to be spent on technology and innovation.
Purchasing a development or creation package to build your casino from the figurative ground up (i.e. from a blank web page to a full, functioning web based casino) can cost you anywhere from 100 to 300 thousand dollars. This depends on what you’re looking for and how much help/support you require. These development packages and fees can also have royalties attached to them as well. Then, you will have to allot a significant amount of money to marketing, especially if you’re trying to keep up with the bigger names in the game. It will also take a team to build and run your casino, as it is definitely not something you can do solo. This will come at a cost, as will software, IT and maintenance of both. Insurance is also a large and important cost not to be overlooked. Overall, you are looking at a one million dollar outlay initially, which you will almost be guaranteed to get back.
If this cost seems daunting or unrealistic, consider becoming an affiliate to an existing, successful online casino. This allows you to piggy back on the success of an existing casino and earn anywhere between 15 and 45% royalties.