The cost of starting an online casino depends on your business needs and marketing strategy. Opening an online casino business is not just a question of finding the initial capital to fund software development. One must acquire licenses, invest in marketing, optimise service quality to find and retain new players, and invest in features to differentiate your casino from the competition.
There are many factors to consider when starting an online casino business, such as website building, app configuration, marketing, and staffing.
Nowadays, numerous online gambling software companies offer more economical quick-start options; it costs up to 5,000 Euro for a website building equipped with your Branded App, CDN, hosting and management.
Online casinos also require ongoing management, maintenance and operations cost; it needs a wide range of staff members in place.
At the start, it requires at least 8-10 full time staff members with 8 to 12 daily working hours in the finance department, the human resource department, the administration department, the technical & operations department & the marketing department to deal with everything that needed attention on this site.
As the company grows, it will be necessary to establish an additional risk management department. The venue could hire up to 24 employees with a higher budget for shifting rotation.
You would need to pay for marketing and affiliate management as well.
Aside from that, you need to pay monthly backend system maintenance and royalty fees (depending on the amount you agreed to pay back).