Let’s not deny: the current gambling market already has dozens of flourishing casinos worldwide that earn billions of dollars in revenue and entertain millions of players globally. Still, there’s no reason to think your business can’t compete with them by offering better service, beneficial promotions, and top-notch technologies. With the rapidly rising iGaming industry, you have thousands of possibilities to be in the top 20 casinos in the world.
With this article, we want to encourage startupers and experienced business owners to move forward in developing their dream companies by finding inspiration from the leading market players.
Why do we share the success stories of others?
Stories are timeless representations of experience. We decided to push the boundaries and describe the best practices for building the most famous casinos in Europe and North America. This may motivate young entrepreneurs to create their own brands, get ahead of the competition and write their own names in the history of the iGaming development.
Here’re five reasons other gambling companies' stories are worth your time and attention.
Proof of the industry's potential
While you can only wonder whether it is possible to launch the best online casino in Europe or North American sector, we dispel your doubts by sharing the stories of other land-based and digital gambling companies. Regardless of the highly crowded market, many establishments can find their place in the sun and generate stable revenue. Statistics say the online gambling share will increase from $60.63 billion in 2023 to $103.74 billion within the next five years. The fastest-growing market belongs to North America, while the largest amount of top online casinos are located in Europe.
Inspiration for those who want but doubt
By sharing the success stories of others, we hope to inspire you to make the first steps toward building your own brand. Although the development of your business is painstaking work that requires patience and effort, every entrepreneur can find their own path to success. Even the most luxurious casinos in the world were once inexperienced beginners who could overcome all the industry challenges and make their brands recognizable worldwide.
Unique sources of ideas
Perhaps, you’re ready to open your gambling website but don’t know what may help your business stand out and attract traffic. World best practices of casinos can give you valuable insights into digital products, marketing strategies, promotions, or designs that cater to the majority of clients. You may examine the platforms' interfaces, game development, and top practices to similarly organize your site.
As an option, you also can give birth to unique ideas, providing an improved level of service or special offerings that even famous online casinos don’t have.
Compelling evidence
Success stories with links to the appropriate establishment illustrate a real example of a working business model better than a simple explanation that a gambling company can thrive. We show a real practice of how casinos with various approaches conquer the market and adapt to quickly changing customer behavior and current trends in iGaming.
Demonstration of the return on investment (ROI)
An example of a popular online casino is excellent proof that your money will work on you generating more revenue. No one wants to invest in unpromising business. In case new entrepreneurs partner with donor agencies, compelling cases can facilitate adopting new technologies that really impact and already benefit other gambling companies.
Regarding investments, it's crucial to understand what expenses business owners will require to build a white-label casino. Keep reading our guide to learn what estimated numbers we’re talking about.
How much does it cost to start an online casino?
Let’s start by determining the main items of expenditure for your startup. First, you should register all the necessary papers, buy a gambling license, build a website, choose a hosting provider, and incorporate a payment system. Then it’s time to pick up trustworthy providers who will sell online games for you. Here the costs depend on the developers’ reputation and the quality of the games they offer. You may consider creating your own games under the personal brand. In this case, the mechanics and design complexity will justify custom slot software costs.
Your website must be versatile to cater to most customers or be focused on a specific gambling type. Define whether you aim to become the best online casino for slots only or consider adding sports betting and live entertainment. In the last case, your expenses will also include the rental of halls for broadcasting in real-time and the costs of special equipment (tables, software, cameras, etc.).
Generally, your initial investments can be $1-$2 million to run and around $500000 for annual maintenance. Expenses may vary depending on the chosen regulated authority, geographical location, top online casino games assortment, and your marketing efforts.
Gambling licenses (Curacao, Malta, or others) will cost anywhere between several thousand dollars to half a million, while periodical renewal will require $2000 – $50000. Another $500000 entrepreneurs will spend on website creation, software implementation, and integration of a reliable security system.
Branding and advertising can require around $100000 and higher depending on the chosen strategy, market, and the number of customers you plan to attract.
Running a trusted online gambling site over the next few years will be less expensive. Still, you may continue to support marketing or affiliate campaigns to multiply your outcome…
