Have you ever considered owning your own online casino? If you have, you would be surprised by just how easy it’s to own a gambling site.
You don’t need to own the games played on your site. Knowing how to program isn’t necessary and the overall capital required is affordable.
With money to buy the needed licenses, cash to market your profit and good management, you can start a profitable casino within a few weeks. The only problem? You won’t be alone in the market. Visit most countries around the world and chances are there are gambling facilities and online casinos. So, is it worth to start an online gambling site in 2019?
A Growing Market
There is a reason why the gambling industry has been growing for more than two decades. In 2011, the industry was worth $25 billion. By 2018, it was worth $51 billion, with the online sector constituting nearly $40 billion. That means despite the high number of new casinos every year, the gambling market keeps expanding.
If you are to start an online casino, the best way to make profits is to find out areas where emerging markets are situated. Most of Europe is dominated by top gambling sites started in the UK. Yet, there are new online casinos coming up every month. Click here to view new casinos 2019 and the different ways they attract new players.
By contrast, there are millions of customers in countries where online gambling was legalized in the last ten years. Countries like Spain and many Latin America countries are warming up to online gambling. Even countries like Brazil where the industry is legal—there are millions of players that flock foreign gambling sites.
Lots of Welcoming Countries
Unlike ten years ago, countries around the world are going out of their ways to attract gambling site operators. In Malta, registering a gambling site takes a few days and €10,000 to get started. Malta’s application fee is €2,330 while an annual fee of €8,500 is required.
In Curacao, where most of the established gambling sites are located—the application fee is €2,000 while a monthly fee of €1,500 is required. Around the world, more than 50 countries support gambling sites. The taxes and rules differ. Don’t get registered in just about any country.
Good taxes and policies that support online gambling help the casino begin to make profits quickly. With time, you can successfully expand to other territories. If the business environment where they are registered is awful, they often have to move or risk closing down.
Leasing Gaming Software is Affordable
The biggest challenge for new online casinos is paying to lease casino games. A single license from a top provider will cost between €5,000 and €50,000. The best gambling sites support games from the top providers. Unless you can find a really good developer elsewhere, you must pay for the popular games.
You don’t have to pay for 1,000 games when starting out. But customers love it when you support many games, especially the popular ones. Luckily, the stiff competition in the industry has helped lower these costs. A budget of €20,000 can get you dozens of games. By also paying for games from less known developers, you can provide a wide variety of games, attracting to more players overall.
Plenty of Affordable Talent Worldwide
Running a gambling site isn’t like managing any other website. The hundreds of games on your website must always be up and running efficiently 24/7. If something happens to the games, immediately support is needed.
That asks for a dedicated team to look after your site all the time. Regularly site maintenance is compulsory—and that’s a fraction of what is needed. You also need efficient accountants to handle incoming and outgoing payments accurately. With all the competition in the industry, you need nothing but the best marketers around.
If your team consists of incompetent people in any department, it will be hard to beat the competition. A good gambling site must always stay ahead of its competition by being innovative and professionally managed. Customer support should be emphasized and not shun away. Money should always be accounted for and management must look for ways to expand.
The House Edge
With good marketing tactics and professional management, it’s possible to attract a consistent number of players every month. Some of the customers may win from time to time, but the house edge ensures you never go out of business.
The house edge represents the percentage of money you make from every game whether players win or lose. Technically, it’s more complex than that but it implies the casino always has odds stacked in its favor. Blackjack has one of the lowest house edges at 0.28%. The game is also easy to play and fun. Try blackjack online with a live casino for the ultimate experience
A game like Baccarat has a house edge of between 1.06% and 14.36% while Keno has a high 25% house edge. When the house edge is put into effect, players get 90% to 98% percent of their profits while the house keeps the rest.
Technology and Opportunities
The biggest gambling sites spend millions of dollars in marketing and innovations to keep your customers gambling. But somehow, technological innovations open up opportunities for new platforms every now of then.
When bitcoin was launched ten years ago, ambitious entrepreneurs saw an opportunity in the industry. Bitcoin casinos became a thing. When a billion people began using smartphones, the mobile casino industry started getting recognition.
Almost every major technological invention in the last ten years has helped small gambling sites compete with the bigger platforms. Launching live casino features isn’t very expensive, yet not every major site supports it. The same applies to VR and other technologies that help only sites that are quick to adopt them.
The online gambling industry has never been bigger. Worth nearly $40 billion, it’s hard to argue there aren’t any opportunities for interested operators. A lot of countries offer licensing services and you don’t need much to launch a gambling site. Maintenance, management and moving with technology ca, however, make a difference in how successful your gambling site will be in 2019.