Despite all sorts of bans, a gambling business continues to be one of the most popular and profitable investments. Investing in creating a business like opening a casino looks quite attractive.
Unfortunately, opening a casino is not only terribly expensive, but also it is simply impossible for some countries ever since the introduction of a ban on gambling. But you can open an online casino for real money registered in a state in which the gambling business is absolutely legitimate.
Online Casino: Scam or Legal Business?
Many people consider online casinos for real money to be an ordinary swindle, from which nothing good can be expected. On the contrary, however, this is a completely legal type of business, and besides, it promises a decent income. The thing is that today there is an operating mechanism for the independent regulation of the activities of all existing online casinos. For example, the public association of volunteers from ECOGRA regularly checks the payment of winnings, tests random number generators, and publishes the results of its checks in the public domain.
Is It Profitable?
Online casinos are much more profitable than their real counterparts. It’s all about the lack of rent for the premises, the lack of staff regularly demanding wages, and the lack of numerous checks and inspections. In addition to all of the above, we can mention that due to the absence of real gambling houses in the country, online casinos are in high demand.
At first glance, it may seem that for an entrepreneur, such a type of business like an internet casino may turn out to be unprofitable: an element of risk awaits not only the players, but also the owner of the gambling house. It seems that you can give all the funds available to some particularly lucky player. However, such a theory has a right to exist, and a hypothetical possibility of such a path to bankruptcy can happen, but human psychology minimizes this possibility.
The thing is that the lucky player returns to the casino in ninety-nine cases out of a hundred to play again. This is how the psychology of the player is arranged: “lucky once, so next time you will be even more lucky.” This line of human psychology ensures the stability of such a type of business as online casinos. Practice shows that a reserve of 3-4 thousand dollars is enough to cover possible winnings.
Price for the White Label Online Casino Business
The cost of creating an online casino can vary within a fairly wide “corridor”. The main components that require maximum investment are software and licenses for the right to carry out such activities. If there are no questions with the latter, then with the software it is not so simple. Different developers have different software prices. Particularly eminent Western companies charge about a million dollars for their programs. Other developers from Europe agree to work for over 50 thousand dollars—it’s all about the brand, the quality of software, and the number of games. The main danger for a beginner is trying to save money by buying a cheap scripted casino with stolen graphics and pirated software. Another pitfall that should be avoided is purchasing software with the terms of paying the seller a part of YOUR profit in the form of royalties.
The main component that requires expenses is the promotion of the casino. In truth, this stage is the most time consuming and requires the most of your nerves. And the inability to generate quality traffic of several thousand visitors per day is the reason why most online casinos fail.
In order to avoid the unnecessary waste of time and nerves, inexperienced entrepreneurs turn to specialists or advertising agencies offering the creation of turnkey online casino solutions. The services of such specialists include a full cycle of work, starting with the registration of licenses and ending with the promotion of the project. However, the expenditure side can grow to sky-high heights and the invested funds will be hard to return for a very, very long time.
The best option in this case may be an example of the “golden mean”. This means that an entrepreneur does not follow the path of creating an online casino from scratch, but chooses a company that provides only the really necessary set of services for opening and launching an Internet business. The secret of success is the presence of an affiliate program, in which hundreds of sites of various directions participate, which redirect their visitors to your virtual casino for a percentage of the profit.
