Many people would be interested in operating an online casino but are not sure how to do it or if they could even do it. Kick Out The Myths Before you even think about starting a casino, it is necessary to get rid of two popular myths. First there is that ridiculous belief that you need a licenses to operate. Fact:- unlike land base casinos, most online casinos hardly have any jurisdiction and do not need an operating license. This is especially true for countries such as Costa Rica, Nicaragua, Panama, etc. Myth number two is the belief that software and infrastructure costs hundreds of thousands of dollars. Fact: - most casino operators would love for you to believe that. Casino software prices range from "free" - $100,000 per year licenses. Now here is how you can start your casino. Option 1 "White Label" casino: this is just an affiliate program with a higher profit share and a monthly fee. This is the least recommended way to go as you have little or no control over your clients, especially since your landlord is your competitor. The top advantage is the turnkey like package which usually include software, e-commerce, customer service and infrastructure. Option 2 Profit Share Casino: A software company will give you a full fledge casino backend for a percentage of your profits. This is an excellent option for people who do not plan to, or have enough funds to invest in bet processing and infrastructure. Disadvantages include the need to create your own customer service. Option 3 Hosted Service: This is like the collocated casino. You pay a software company a fix fee per month to house your casino. This is almost like option 2, but here you get to keep 100% of your profit. This is excellent especially if you have a large marketing budget. Disadvantages include the need to create your own customer service. Option 4 All in house: In this option you buy, rent, build or lease your software and run them from your own servers. You will need to invest in staff, infrastructure, e-commerce, marketing and web development. This requires a good size budget, although steps can be taken to reduce initial costs. An example would be to host with a third party. Starting a casino may not be as hard or as expensive as you may think. If you are desirous of starting your own casino or just need more info please send me a private message with your specifics.
Wow I wasn't even sure there was such a thing called online casinos. I'm going to look into investing in one in the near future. Anybody here actually own an online casino? If so, how profitable is owning one?
Although I do not own one, I have helped many owners. It is as profitable as your investment and ability to get clients. But it pays off in six figures for a small casino.
Small sites will earn $1,000,000s a year quite easily. By a small site I mean a site that has roughly 3000 players online on average.
Open a online casino is a good idea. As i know that the only winner in gambling is the banker, what need to do is just find the "customer".lol
I will write an article on this next week. But feel free to pm me if you need more details. Casino use other deposit methods normally include Moneybookers, Neteller, etc. Contact me for a full list of deposit methods for casinos. I have sent you a PM with more info. There are more positives than known downfalls, since no business comes without an "opportunity cost". But casino is a profitable business, and as one member posted the banker always wins.