That is quite reasonable why a person might get a thought of starting its own online gambling business. It brings much profit, especially nowadays when online related industries are at the top. Just like the huge yearly revenues of online casinos, one has to spend the big sums of money for the business launch.

Gambling business requires many responsibilities and attention. The known stereotype about casinos that they are always cheating impose additional obligations on the casino owners. They have to license their business activity, get special certificates and constantly prove that they are safe and fair.

This ‘proof’ costs money which you as a potential owner need to pay at the very beginning. All the licenses, certificates and security technologies are the first instruments that you have to think of before you start. Not a single high roller or even a regular player will make funds into an ‘unknown’ casino without an official license.

Registration

However, in order to receive a license you need to accomplish several steps. First one is to create the company according to the laws of the country that allows running online casinos. They are usually small countries like Malta, Costa Rica, Gibraltar or it can be the UK, by the way. The company registration cost varies. In the UK it’s 550 euros, in Costa Rica you would have to pay almost 3,000 euros. However, Gibraltar and Curacao don’t take charges at all. So, let’s take the average cost of the registration of a legal entity – $1,000.

Gambling platform

The site content is the most important. It’s the face of the online casino. The real money attractive games are what people come for to the online casinos. Basically, you need to make a deal with at least one software provider and have a minimum of 500 games in your casino lobby. Nevertheless, the more games and providers, the more customers. The price is different again. It varies from $10,000 to $150,000. It depends on the provider reputation and amount of games you purchase. Mind that you will have to pay commission from each game. About 15% from one game revenue goes to the provider. Averagely, you could pay about $50,000 for games including commission.

Licensing

Finally, you can apply for the license. This step allows you to host servers and represent casino games worldwide (where they are accepted by laws, of course). Generally, the licensee is based in the same country where you registered your casino business. Accordingly, the price varies. For example, in the well-reputed Malta you can get the MGA license for about $18,000 + the same for annual fee, in total over $35,000. In Costa Rica you’ll pay totally $50,000. Besides, the license doesn’t last forever. It’s issued for several years. On average, 6 years is the expiry date. So, let’s assume that the first licensing costs $50,000 including the cost itself and annual fee.

Website development

Your casino site should be, first of all, clear and easy to navigate. Whenever a visitor enters the site, he or she must understand what the casino offers: games, bonuses, banking options, support, security and etc. Clarity, transparency and availability of all website options. The whole development of the website costs from $10,000 to $50,000. Though we can’t deny additional losses. Let’s take $50,000 for the website development stage.

Marketing

This step is necessary for all businesses. In order to let people know about you, you need a marketing plan including advertising, SEO content and affiliates. Your minimal marketing losses can be $20,000. However, it doesn’t make much sense as it pays off quite a little. For the good profitable marketing system you can pay $100,000 and even $200,000 monthly. Additionally, you will have to pay a fixed sum and sort of 20% commission to the partners that brought you clients. All in all, for the advertising stage we have approximately $100,000 a month which annually is $1,200,000.

Casino maintenance

Here you should include, first of all, salaries for your staff. It should be a whole team of specialists in the fields of design, web development, security service, support, sales and marketing, finance and copywriting. In addition, you will have to maintain the site and its security system annually. The total cost of this all will be about $500,000 a year. It depends on the salary amounts you can afford, of course.

Payouts guarantee

This is a specific amount of money you save in the bank as a guarantee that you are able to give payouts to your players. It can’t be used for taxes and other expenses. This is a necessary fund, and its minimum depends on the registration country. It will cost you about $100,000.

Total calculations

If we consider each expense given above, the online casino site costs $1,951,000 at the start. Still, you have to understand that this sum is not exact. In reality you may pay more or even less. Anyway, considering all the necessary and additional expenses, you need to have at least $2 million in your account to open and maintain the casino site during one year. With an excellent marketing plan you can compensate for the losses during a couple of years, or even less period of time.

Sometimes people state that all online games including Blackjack are rigged by casinos. To tell the truth, there are such casinos that cheat on games to make profit. These casinos are called scams, to be more exact. But don’t be disappointed too easily. There are good casinos too. Actually, if you search for a gambling site, you will see only fair casinos that never rig or cheat. They don’t do it for the reason that they value their reputation.

Generally, any game can be rigged, but blackjack is the most vulnerable to this due to its complete randomness. Therefore, we’ll introduce several reasons why casinos don’t rig the cards at blackjack:

• Reputation. If a gambler notices rigging Blackjack or other game, everybody on the Internet will be aware of this too. So, the casino will have far less customers than before. Players will consider it a scam, and what is more, all the auditing authorities including eCOGRA will get the approval back.
• Penalty. First of all, if an online casino is accused of cheating, it gets a huge penalty. The amount of money that it has to pay is so big that it just isn’t worth it.
• Closing. This situation is unimprovable. The online casino will have to close the doors. Apparently, the owner will have to end up with the further gambling business too.

To conclude, online casinos would rather be fair and rich than close the whole business and lose everything. So, rigging Blackjack or other games is not profitable at all. Inversely, it is very risky. There is no single online casino that will take such a life-cost risk.

The process of withdrawing is what players are looking forward to. Sometimes the online casinos are so fast that you can’t even say a word, the money is already in your bank account. But, unfortunately, there are casinos with a slower procedure. It takes them three, five or even ten days to process your request. In fact, it’s not all the fault of the online casino. To tell the truth, a money transaction is such a scrupulous thing that has to pass through several steps.

Banking options

First of all, the speed of withdrawal depends on the banking option you choose for payout. If you choose a bank card or transfer, prepare for a long waiting. Usually it takes about 3-5 banking days. Sometimes 1-2 days, but it’s rare due to the fact that the bank security department must check and confirm all the data. The fastest option is an e-wallet, of course. It processes money transactions within minutes. Instantly in some cases. Generally, it doesn’t even require any docs for verification. I’d say an e-wallet is the fastest and easiest method to take winnings from online casinos.

Casino department

There is a constituent of online casinos too. It’s the request processing. The department responsible for the withdrawal requests also affects the total waiting period. Of course, every online casino swears they do it momentarily and later it all depends on the banks. However, the casinos check the data and documents too before they send the request further. It’s an obligatory security measure. So, it may take some time. In case they lack some info about you, they might ask you to provide it. Be prepared. As soon as the security verifies everything, they will send the request to your bank or other payment system.

Verification process

Mind that your first withdrawal process will be the longest ever. This is because your online casino must confirm every single piece of information that it’s you and not a fraud or bot, whatever. That is the reason why they might want you to provide unnecessary docs from banks. So, don’t be rude with them, they actually help you to take your winnings. Afterwards, when the first verification procedure is done, all the next payouts will be fast.

Conclusion

All in all, no one likes to wait for a long time. Especially, players for their winnings to pay. So, make a combo using the fastest option – e-wallet and the fastest online casino to pay winnings. The latter you can find on our site. We have articles dedicated to the rated casinos with top fast payouts.