How Much Money Do You Need to Start an Online Casino?
If you want to learn how to start an online casino, you would surely be interested in the costs that this kind of business entails. The prices for setting up an online casino are very different, depending on the expectations of the operator. Gaming insiders usually claim that starting an online casino is quite expensive. Contrary to popular opinion, nowadays you can start your own gambling site with at least €6,500, which is a small price to pay for the benefits that such a business can offer.
Operators who want to find out how to start an online casino should know that the cheapest solution would be to open a casino that supports Bitcoin payments. By doing this, you will not need to obtain a gambling license, which costs at least €10,000. You will only need a gambling license if you decide to introduce real money payments for the online casino. Bitcoin crypto-currency integration provided by CasinoWebScripts costs €500.
Thus, if you want to start a Bitcoin casino, you have to purchase a casino management platform and at least one casino game. For example, our company, CasinoWebScripts, created a management platform that contains all the required tools for any operator who wants to manage and find out how to start an online casino. By purchasing a management platform, you will have everything you need to run your casino properly, and have full control over your business. The price for our casino management software is €5,000.
The next step is to buy at least one casino game. The biggest Bitcoin gambling site, Satoshi Dice, offers only one game and has reported earnings of approximately €370,000 just six months after its launch. You can also purchase any game you like, depending on your budget and preferences. Some of the most popular games played at Bitcoin casinos are dice, slots or table games. The cost of a casino game can range from €225 to more than €1,000.
In conclusion, you can start an online casino with minimum €6,500. We would also like to inform you that once you learn how to start an online casino and get your casino up-and-running, you will also have to promote it. It is true that you need to invest a little in advertising your business. Even so, you can save a lot of money by starting a blog about your online casino. This way, search engines will find more useful information about your casino and you will be ranked higher in search results.
BY CASINOWEBSCRIPTS PUBLISHED 2 June 2014