Anyone that has ever been to Las Vegas knows that casinos to make a lot of money. Do you have any idea how much those casinos make in a year? Las Vegas casinos generate billions of dollars every year so that alone should tell you how much people enjoy going to a casino and gambling.
Gambling has always had a hold over people. Whether we’re talking about old west style cowboys riding into town after a long drive looking for a way to blow off some steam in some wood floored saloon, or the millions of people who pour into wonderful Las Vegas every year, it’s a big part of our culture. There’s just something to the allure of getting something for nothing, risking it all and hitting a huge score.
As people we’re drawn to the excitement of it all, and just the slight chance of us hitting a jackpot is enough to make up for all the times we lose out to the house. And there’s the real shake of it, isn’t it? That the house always wins – no matter how many whales they pay out, they are always going to come out on top. That’s just the way it is, the way it’s always been, and most likely the way it always will be.
Well what if you were able to become the house? Ever thought about what it would be like to start a casino? Did you think that you would get the chance to participate in an online gaming business opportunity? You now have that chance with Online Casino!
There is a gold rush happening right now on the internet, one that is making people all over the world literal overnight millionaires. All over the globe more and more people are jumping online and starting their very own online casinos, or buying online casinos. This boom is just starting to swell now, and there is still time to get in before it pops, or the market becomes too saturated with providers that it’s not a sure thing anymore.
But that doesn’t mean that you should just ignore the big picture thinking that is necessary before you take a plunge like this. It’s an easy thing to get sucked into the dream of making the kinds of cash that places like Las Vegas makes, and while you can certainly start to see some very real and very amazing amounts of cash in a short time, you need to focus on what it’s going to take to build something that’s real and sustainable.
Here are a couple of things you need to know when starting your own online casino:
There are 3 ways to start your own online casino
1) Most Expensive Way to Start Your Own Online Casino – Design and implement all casino software which could cost you millions of Dollars. You will also need to obtain a gaming license to start and run your online casino, which requires approval from most governments. However, you will have full control of your gambling site, and full knowledge of the source code of your gaming software. In addition, no royalties are paid out to a casino software development company.
2) Average Way to Start Your Own Online Casino – Become a Licensee of an online casino software provider. This is a far less expensive option to start your own online casino and the client receives all the casino software and sometimes even the equipment necessary. It is also the most popular option for both licensed land-based establishments as well as entrepreneurs. Costs range from $30,000 to $350,000. The average licensing fees are around $150,000 (this usually includes marketing costs). In most cases a royalty is paid to the casino software provider as a percentage of the monthly “take” or “drop” (gross profit). Usually the casino software provider has payment processing (merchant account providers) already set up for a fully turnkey operation.
3) Most Affordable Way to Start Your Own Online Casino – Become a Sub licensee of an existing Licensee. This is the least expensive option to start your own online casino. Costs range from $5,000 to $60,000. The sub licensee is responsible for all the marketing and receives a smaller percentage than a full licensee (2), because royalties paid to the licensee are much higher.
What is your legal situation?
Gambling is serious business, and is one of the most heavily regulated industries in the US. Before you get any farther, you need to make yourself 100 percent aware of all the state and federal regulations.
Online gaming is almost impossible to set up in the US right now. I say almost, because nothing is every truly impossible. But for the time being you should focus your energy on offshore ideas, which isn’t really a bad thing. Gambling isn’t strictly a US kind of thing; it’s becoming incredibly popular all over the globe. And since you are starting your casino online, you have the entire world at your fingertips. Without any physical location holding you down, you can literally be anywhere at everywhere, all at the same time.
My best advice is for you to check your local laws, and make absolutely certain that you won’t be running into any trouble with your new online gaming business. If there is even the slightest chance that you could be in trouble, either look to set it up elsewhere or don’t do it at all. The risk may feel worth the riches you can reap, but you have to weigh these very carefully. The last I checked you can’t drive a brand new Lamborghini from a jail cell. Check your local, state, and government laws to see what you can and cannot do, and hire an experienced attorney to walk you through it all. Find a reputable lawyer with experience in this area and move forward with his expert advice.
Now that you’ve got your new online business opportunity up and running, you’ve probably spent a significant amount of money. The only way to recoup those costs is by getting new members to come in and use your casino and poker gambling software. Remember, you’re the house now. Most of your users are going to lose, and this is your biggest hurdle to attracting new users. They have to be made aware of why your new online casino is unique, and what it can mean for them. There are several companies out there running online casinos, and you’re going to have to carve out your own niche if you want to be successful. Maybe you target just the little guys and go for volume, or maybe you go after the real big whales and try to make a more exclusive set up. Either way, your online casino is only going to flourish and make you the kind of money you’re hoping for if you market it right.
As you’ve seen, there is a bit of work to get your new online casino up and running, but it’s not impossible. And remember, there’s nothing better than being the house.
Seriously though, if you’re looking to start a casino, the time is right now. You can buy turnkey casino site right now, there are online casinos for sale. Or have a custom solution created with your own casino and poker software. Either way, you’re going to be able to BE THE HOUSE! We cannot stress enough how incredible this is. This is absolutely incredible, and we hope this primer has helped you get a little clearer on whether or not this is something for you.
Contact us today to receive free information on available turnkey online casino solutions.