Online casinos are one of the most profitable business ventures now. But how much does it cost to start an online casino? Let’s find out.
Options for Creating an Online Casino Business
If you want to start your own business in the iGaming industry, you can:
• Independently start to select a team of specialists who will help bring your idea to life,
• Refer to specialized B2B services that can help you in this matter.
This article contains the best services that offer all the necessary conditions for starting your own online casino business. According to the list of service quality criteria, according to which the best companies were selected, NuxGame ranks first among other companies.
Turnkey online casino is the ready-made solution to deploy your own igaming business. For a minimum of GGR (Gross Gaming Revenue), you can launch your online casino ready for action in just a few days.
Turnkey supports all major game providers and makes it possible to personalize your branding.
The Costs of an Online Casino
Let’s dive deep into what costs go into making an online casino.
The most obvious operational cost of any online casino would be the software. There are software developers who provide spectacular games that casino players love. You should include a couple of hundred games to your casino including slots, table games and live dealers.
Depending on the number of games that you choose and how much you agree to pay in royalty, the cost for an online casino software will vary. Royalty fees usually range from 15%-40% on monthly turnover.
Also, gaming providers often require you to show you an excess of around $300,000 to make sure that you can pay the customers who want to cash out their winnings. It’s not a lot of money when you consider that a single player can hit a $200,000 jackpot anytime.
Considering all the expenses, you can look at around $300,000 to $500,000 in games software alone.
Online casinos are required to have a license to operate legally. Countries like Malta, Isle of Man, Costa Rica, United Kingdom, etc. have the leading licensing organizations. A gaming license can cost around $75,000 every year. Also, there is a 3% tax imposed on casino profits.
Make sure that the games you purchase do not house any servers in a country where gambling is illegal.
It’s normal to think that online casinos don’t require any staff. But they do. For a smoother operation, you need 8-10 staff. They’ll mostly work as customer service representatives. They need to work around the clock for 24 hours.
Also, you need managers to oversee the staff. Employee cost for an online casino can go around $250,000 a year.
This is one of the largest expenses you’ll have to face once your online casino is up and running. You need affiliate websites to bring in traffic, and they can cost anywhere around $100,000 a month. Going for top affiliate websites, in the beginning, might not be a good idea as they can take up to 50% of your GGR.
For an online casino, you need to deploy a range of payment options to let the customers deposit and withdraw their money. Cost for deploying services like VISA, MasterCard, Neteller, etc. can set you back around $100,000 each upfront.
In general, an entry-level gambling website could take up to $3,000 of your budget. The better you want, the more you have to pay. The website must look professional and respond quickly to make the experience enjoyable for the players.
NuxGame Got You Covered
Considering all of the expenses above, don’t feel discouraged. NuxGame is a ready-made platform for you to pursue your dream. You can expect to find the best price-quality ratio in the industry. Just head over to nuxgame.com and start building your casino business.