It's not that easy to develop online casino software, It needs a huge amount of investment along with patience. People who are interested in business are rapidly joining an online casino business. In countries like the USA, UK, Costa Rica & the Middle East, the government allows people for this business but you need a license. Here in this article, we will share the cost to develop online casino software.
According to the research of our experts, the online casino software price will be up to $1.86 million casino game development.
USD. You can earn more than that price in just 2 years if you find enough players. In the last 6-7 Years this business has had a growth rate of 11.5 % per annum. It will hit up to 25 % in the next 2-3 Years.
Where do you need to invest in developing online casino software?
Registration & Licencing -
Without registration & Licence, you are not able to start an online casino software in the USA. This is the first priority that you need to register your legal entity with firm registration. It will take up to $1200-$1500 in the USA.
Licencing can provide you rights to do online casino business because licenses are provided by the government. Also, the government puts some taxes on your earnings. An online casino license costs $75,000 per year apart from that 3% taxes on your earnings. Make sure that you have checked all the laws, rulers, and regulations of the country where you want to start your casino business. There are a few countries which do not allow online gambling.
Software-
Now before moving forward, we need good software for the integration of the games in our online casino app, so we need excellent casino game developers. By using software we are able to manage thousands of games at a particular time period. Without software, this is not possible. A good online casino need 3 basic classes of programs-
- Game platform
- Game content
- Payment decisions
1. Game platform-
To manage resources and for the better operation game platform required, We can say the game platform is the foundation of online casino development. It cost upto $1,000-$5,000 + Commission (15 % to 50 % ). Here are some examples of game platform software- Real Time Gaming, Playtechnet, Microgaming, and Cryptologic.
2. Game Content-
For the slots, lottery and games needed are launched by players. Slot mechanics are sold along with software and people purchase all game machines and software from a single vendor to save the cost and better discount. It cost $200-$500 per game + Commission. Here are some examples - Playson, Microgaming, NetEnt, Evolution Gaming, and BetSoft.
3. Payment Decisions-
For the better transaction between you casino app and player need some online secure, safe, and realabble payment gateways. PayPal, Click2Pay, Skrill, Neteller, Visa, and MasterCard offer better payment gateways and the cost is upto $20,000 for a month.
Website & Mobile app-
After completing software formalites we can move onto the website & application development part, developers are in high demand these days so it will cost high also but the good news is developers charge in hours they do not have any fixed amount in the USA a experienced developer charge $110 to $150 per hour. We need a website with all functions and with great user experience because a website is the fame of your online casino business. On an average, it cost upto $3,000. Online casino software price impact the quality of the website & application.
Staffing & Maintenance-
To operate your online casino you need a minimum staff of 8 to 10 people, who will be available 24 hours for user problems as a customer support representative, One affiliate manager who takes care of affiliate things. One customer retention manager who takes care of the most valuable customers, a 3 person Team of IT, and one for the marketing purpose.
People need in staff-
- 6-8 Customer support representative
- 3 IT Professional Salon with one Project Manager
- 2-3 Sales/Marketing Professionals
- 1 Customer Retention Manager
- 1 Specialist in Payments
- 1 Content creator
- 1 Accountant or Bookkeeper
On average, good casino companies need 15-18 people for better business and growth. It will cost around $250,00-$300,000 per year.
Marketing & Promotions-
Marketing and promotions need a lot of money, this is the main important thing to grow your business marketing plans and promotions attract people towards the game. The reason is Google Ads, Youtube, Facebook prohibits gambling content or ads, so you need an SEO agent or SEO Executive/ Team and it takes time for a better reach. You need to invest 20%-45 % of your income in marketing for a better business.
Promotions are also needed investments but better results you can promote by giving bonuses to new users, pronouns amount on high deposits, etc. Both need &20,00 to $ 100,00 in a month.
Reserve payments-
You need to reserve payment as a bank guarantee or security by the financial institution. This is just for the safety feature of players according to government laws. Also, the software needs the brand valuation of the company at the time of delivery, Generally, the bank needs $100,000 as security. This amount can not be used for operations, salaries, anything till the time the company does not have funds. Cost to develop online casino software impacts reserve payment also.
Conclusion-
On average, the estimated cost to develop online casino software will be 1.86 million US dollars. Now it depends on you whether you need software for better business or not?. You can also reach out to casino game development companies who will help you to develop an online casino software and will aid you to meet all the formalities that are required to make your business stand out.
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