Poll

1 vote (33.33%)
No votes (0%)
2 votes (66.66%)

3 members have voted

BricksandMortar
BricksandMortar
Joined: Nov 3, 2015
  • Threads: 2
  • Posts: 6
November 3rd, 2015 at 4:37:44 AM permalink
Hi All,

I wanted to firstly thank you for taking the time to read this.

I am thinking of creating my own online casino and wanted to ask for your
advice and input, as to how much such a setup would typically cost online.

I have done research into companies such as SoftSwiss casino, who have
provided a costing of 30,000 Euros.

SoftSwiss have advised this cost covers a gaming platform with CMS and a
powerful backend that I have full control of, 40 casino games by Softswiss
and 150 games by BetSoft, website design and development, gaming license
and an infrastructure of payment gateways.

SoftSwiss also charge recurring costs of royalties in the amount of 15% of
Net Gaming Revenue starting from the first month of operation.

Do you think the above figures sound fairly expensive, or at a reasonable rate in
your opinion?

I have looked at other avenues of launching an online casino but SoftSwiss
is (so far) the only one that I have come across. In your view, would you
be able to recommend any others or have you come across any other online
casino developers that provide a superior service for a cheaper price?

I am quite new to the industry and am looking to gain an insight into the
approximate costs involved with setting up an online casino from scratch.

Thank you for taking the time to read this.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
  • Threads: 1310
  • Posts: 21494
November 3rd, 2015 at 5:05:31 AM permalink
That sounds like a fair White Label deal. The other big fish in that pond is EveryMatrix, who you should consider as well.

I've thought about doing my own White Label casino, so would be interested to hear what happens.

Of course, a bid downside to going White Label is you can't configure the game rules and your casino will seem like it was made with a cookie cutter like the many others they make.

Finally, don't forget the expense of support is on you.
It's not whether you win or lose; it's whether or not you had a good bet.
Zuga
Administrator
Zuga
Joined: May 21, 2014
  • Threads: 43
  • Posts: 414
November 3rd, 2015 at 6:46:15 AM permalink
dont forget you must have a decent "reserve" so you can pay players in timely manner, esp if some hit big ( and I can assure you they will ). You can't expect white label casino to immediately start paying itself off.
"All it takes for evil to prevail is for good people to do nothing "
DRich
DRich
Joined: Jul 6, 2012
  • Threads: 71
  • Posts: 5901
November 3rd, 2015 at 7:02:10 AM permalink
Quote: Zuga

dont forget you must have a decent "reserve" so you can pay players in timely manner, esp if some hit big ( and I can assure you they will ). You can't expect white label casino to immediately start paying itself off.



I would think a major cost would be advertising. How much is it going to cost acquire players? There are so many casinos out there not only do you have to differentiate yours, you need to educate players on why your casino is a better choice than all the others out there.
Living longer does not always infer +EV
Zuga
Administrator
Zuga
Joined: May 21, 2014
  • Threads: 43
  • Posts: 414
November 3rd, 2015 at 7:36:23 AM permalink
Quote: DRich

I would think a major cost would be advertising. How much is it going to cost acquire players? There are so many casinos out there not only do you have to differentiate yours, you need to educate players on why your casino is a better choice than all the others out there.



yes you need to have some sort of advertising budget, but not so much for TV ads. Most online casinos heavily depend on affiliates sending them the traffic ( players ). So that advertising budget is usually directed at tenancy fees, CPAs , hybrid deals etc.

But most important is to have enough money to pay your winning players. Without having some reserve no one should start a casino.
"All it takes for evil to prevail is for good people to do nothing "
MrV
MrV
Joined: Feb 13, 2010
  • Threads: 310
  • Posts: 6775
November 3rd, 2015 at 7:55:50 AM permalink
"If you want to make money in a casino, own one."

--- Steve Wynn
"What, me worry?"
rsactuary
rsactuary
Joined: Sep 6, 2014
  • Threads: 17
  • Posts: 1587
November 3rd, 2015 at 8:11:09 AM permalink
Agree with the comments that you have to have a pot of cash ready to pay out big winners. So, am curious how much you think is enough? I'm thinking 100K if BJ betting is limited to maybe $10 a hand and VP up to $1 denom?

^ That's a total wild guess on my part, curious what others think.

It's been too long since I did any sort of ruin theory to figure it out mathematically.
Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
  • Threads: 68
  • Posts: 11933
November 3rd, 2015 at 8:18:39 AM permalink
Quote: MrV

"If you want to make money in a casino, own one."

--- Steve Wynn


Tell that to CET.
DUHHIIIIIIIII HEARD THAT!
djatc
djatc
Joined: Jan 15, 2013
  • Threads: 83
  • Posts: 4477
November 3rd, 2015 at 10:51:34 AM permalink
10c 100 play full pay deuces

Or full pay jokers. I'm not too picky.
"Man Babes" #AxelFabulous
Entirele
Entirele
Joined: Oct 28, 2015
  • Threads: 0
  • Posts: 41
November 4th, 2015 at 8:14:20 AM permalink
I like this idea and I understand how difficult is to open your own casino, it requires a great amount of time, knowledge and nerves so you should understand that it also claims great budgets, othewise players will pass through. Also such forums as WizardofVegas will help to provide info despite there are good feedbacks or bad))))
Generaly..I`m intereted what budget do you have for casino opening?
“Well-behaved women seldom make history.” ― Laurel Thatcher Ulrich

  • Jump to: