The cost of starting an online casino platform is one of the secrets in this industry as you can only find the websites which write down the rough estimates about the price. Well, we have a scoop for readers who want to learn about this process, and estimated amounts regarding online casino software price. Online casino software prices can be different for various products. Features play an exceptional role in this matter, as well as the providing company. Let’s find out why you need to use casino software and which functions are essential.
Online Casino Software Price and Features from Various Providers
Software Packages and Prices
For the ones who want to start an online casino platform, software price and features are essential aspects to analyze. In Microgaming online casino software, casino operators can get 450 interactive casino games. The variety of those games is wide, and you can have classic slots, 3D and video slots, baccarat, keno, table card games, roulette, sic bo, and pai gow in advance.
The cost of owning a Microgaming casino software is high. It is not efficient for small budget retailers to buy online casino software from these types of providers because they will not be able to afford it. For Basic Package, Microgaming charges casinos with 250.000 dollars. The basic package would include essential casino games, management functions, and licenses. For a more advanced version, the online casino software price is about 300 to 500.000 dollars. There is another thing that you need to keep in mind while acquiring casino software, and that is royalty-free. Royalty fees can affect online casino software prices and your initial expenses. It is about 15 to 40 percent of the monthly profit for online casino platforms.
The reason why this cost is high is that payouts which can happen after you start an online casino. For example, players can earn 200.000 from progressive slots in your first month as a casino operator. If you bought this software for that amount, the company would pay that withdrawal amount right away. Rival online casinos cost around 100.000 dollars for owners. Playtech charges its customers with 300.000 dollars for the complete package. Software prices can be very high, especially if you decide to buy online casino software market leaders of the industry.
Why Jurisdiction is Important while you Buy Casino Software
A jurisdiction is significant for casino operators because, with only that, they can legally host their casino servers. The casino software from reliable providers is housed on these legal servers. That can eliminate your additional costs regarding jurisdiction. You cannot house your server in any of the countries, whether they allow it or not. That is why; using a casino software provider becomes inevitable.
Most popular jurisdictions in the world are Antigua, Malta, Costa Rica, Isle Of Man, Netherlands, Gibraltar, and Curacao. Online gambling licenses from these countries can add up additional costs to your initial expenses if you decide to get the housing individually. For example, a gaming license from Antigua will cost you around 75.000 dollars. Besides, you will have to pay an additional 3 percent for tax annually. In Antigua, you will be asked to pay an extra 50.000 dollars for a wagering license as well. So, as you can see, starting your online casino and registering it by yourself is not an ideal choice.
Analyses of Costs
Online casino operators need to incur expenses on various stages of casino operations. First of all, just like any other business, online casinos need to have a feasibility analysis, plan, market analysis, which can cost you around 5.000 dollars. At this first stage, casino operators can get insights about the competition in the industry. Moreover they get to know the target audience, and have a better idea of the countries where he/she can operate successfully. After that, licensing comes to the stage, which costs roughly around 20 to 30.000 dollars
Annual fees will bother you for licenses because of the sub-licensing and banking services. Before getting into the part where you start searching for online casino software for sale, you need to deal with online casino development. This step is one of the most cash-consuming stages, and it requires intensive cooperation among you and the developer team. Development can take more time than expected because there are so many details which you need to focus on this stage. From a visual interface to compatibility aspects, you need to focus on giving high-quality products for your future customers.
Besides that, to keep your business alive, you will have to use IT experts, social media promoters, bookkeepers, and such employees so that your online casino can operate and earn more recognition. So, as you can see, the cost is not limited to only online casino software for sale. To sum up, the expenses will include:
- Promotion efforts.
- Online casino software and payment systems
- Taxes (depending on the country)
- Casino backend software
- Salaries, remunerations
What do you need to consider besides online casino software price while acquiring it?
The management structure of the online casino platform is defined by casino software. So, it is crucial for the success of your business. There is a particular process that directly depends on the capabilities, reliability, and functionality of the online gambling software that you employ. Besides online casino software prices, you need to focus on at least three criteria while buying it. Here are those:
The foundation of your online gambling site has a lot to do with gaming platforms. The platform should be designed in a way that it will be easier to use resources and administer user accounts. Prices for that type of software range between 10 to 500 thousand dollars plus commission fees. Real-time Gaming, Falingo7, Cryptologic are just some of the examples of the companies from which you can get online casino software for a reasonable price.
In land-based casinos, while owners get slot machines, it comes with ready software which has various casino games. Though, in an online casino, it is a little bit different because you can add additional games with a request from players. Overall this aspect of the online casino software is essential for players who came to the platform to play their favorite games.
It would be best if you made sure that online casino software offers a variety of online casino games that can keep loyal customers happy and help you to add new customers. Prices per game can vary from providers, but overall it starts from 200 dollars and goes up to 5000 dollars at most. If you would like to add new games that are not coming inside the software package, these are the prices that you need to pay to get them. Playson, Evolution Gaming, Stallion Gaming, Betsoft are some of the game providers from which you can purchase casino games for your platform.
Programs for conduction the transaction process in your sweepstakes casino is another aspect that you need to focus on. There should be enough options available in the online casino software. Some of the examples are PayPal, Skrill, Master, and Visa Card, Neteller.
Expensive vs Cheap Casino Software
There are many differences between cheap and expensive casino software solutions. By looking at the criteria that we shared earlier, you might guess some of them. The quality is one of the keys and obvious reasons that casino operators tend to go with expensive ones. You need to analyze the product first, use the demo version, and then decide. The reason for that is, sometimes cheap software can be very functional and can help you in a variety of phases.
Expensive software is great for accessing number of management tools, a variety of casino games from worldwide popular casino providers. However, the main difference is about licensing. As you probably know, the cost of the license from the respective bodies of the local governments is expensive. As the cheap casino software cannot afford this cost, they got a license from overseas and that license is not comparable with the high-quality one.
For starting an online casino platform, you need to build your website, do marketing procedures, and get reliable casino software. As you can see, there are many aspects which affect online casino software price. It is important to assess each brand and choose the one that is affordable. Besides that, try to find the one that has fundamental tools which can help you to build your brand.