It seems with every passing month that, there are more online casino platforms on the internet than there were the previous month. And people thinking that is the case are probably correct. But it’s never been a case of just setting up an online casino, and away you go. They actually cost a lot of money to get up and running.
Before we come on to the actual cost of starting an online casino, it’s worth considering all the moving parts that must come together to get a casino business off the floor and give it a chance of success. Because let’s face it, an online casino that doesn’t hit the heights expected will be a very expensive project to get involved with, only to see it fall at the first hurdle.
One of the first things to consider is that an online casino’s success will rely solely on the people who populate it. So, taking a look at an online casino site like this one to gain some insight as to what online players expect is the best place to start. What the leading brands offer is what players want, and by giving players what they want, you’re going to have more chance of making a success of things.
But, of course, to deliver on all the things that casino players want, it’s going to entail a lot of cost, with the initial outlay estimated to be between £1 million and £2 million, which is a large sum of money before you are actually in a position to start making money. But, there are multiple liabilities to consider and costs.
Initial costs will include getting a platform that works across a range of devices and looks the part, and is smooth to operate set up. This is going to cost tens of thousands. But it doesn’t stop there, as operators will also need the content to populate a platform. And getting the best games is going to mean spending hundreds of thousands before anyone even considers spinning the reels of a slot game.
And the outlay doesn’t stop there because you can’t just set a platform up, stack it full of the top games, and then start offering your services to punters. Licences and so on are needed from recognised and reputable authorities, which again costs well into the thousands to secure. Without this, you can’t operate a service legally, with players giving unlicensed sites a swerve.
When you’re a new online casino, one drawback is that people won’t know about you, and you need to bring customers in to begin making some money. A lot of money is usually pumped into marketing. But the proven way to attract customers is to offer bonuses such as No Deposit bonuses on registering and then deposit matches and free spins when a new player adds funds to their account for the first time.
Providing a raft of new players with perks such as these creates a massive liability if some go on to win cash prizes. So, you can see just why it costs so much from the get-go to start an online casino, definitely into the millions, but the costs should balance out if a platform is successful over the long term, which is what operators naturally aim to be the case.
