Buying an Online CasinoYou’ve played online for years, and now you think to yourself, “I know about gambling, I know about the internet. I should have my own casino instead of playing at everybody else’s.” almost every hand you lose. But the fact is, if you are serious enough about it, and have a unique gaming concept with adequate financing…you CAN have your own casino!
The first reality you must come to grips with is that buying an online casino is like buying a boat. Your two happiest moments are when you buy your casino and when you sell your casino. In between there is hard work, tough business decisions to be made and plenty of sleepless nights. The days of the get rich quick internet schemes are long gone, and its back to the old economy and earnest business practice.
After you’ve mentally committed to starting your virtual casino enterprise, you’ll need to get yourself some casino software. Anticipating spending between $100,000 and $300,000 straight off the bat for the software you’ll need to power your casino. Following the initial traunch, there will be ongoing fees and royalties once you get going. But extras aside, lets focus on software.
Generally speaking, there are three paths to choose from when you undertake your casino venture. You can either go for software from one of the “Big Three” software providers, choose software from a smaller “major”, or seek out a boutique vendor.
If you choose to go for a Big Three provider then you are considering Microgaming from the United Kingdom, Boss Media from Sweden, and Cryptologic from Canada. Buying from any of these three providers buys reliability proven over millions of dollars wagered, and thousands of customers satisfied. Their software is also proven to the players, and their badge on your casino provides almost instant credibility.
Another advantage of going with one of the Big Three is that virtually all of the support functions necessary for the operation of your casino can either be supplied by the vendor, or by one of their preferred partners, of which you’ll have a huge selection. Support functions like credit card handling, hosting in a licensed jurisdiction, and customer support are as essential to your casino as the software itself. Operating one of these “turn-key” solutions and taking advantage of their partnering vendors, you can almost run the entire operation from home with a three man team.
However, not everyone wants to operate software that is similar to many of their competitor’s, and are veering down another path towards smaller providers who have proven themselves serious providers. Four competitors from this category that are making waves in the casino business are PlayTech, iNet Software, Aqua Online and Real Time Gaming. These software houses have sufficient experience to play in the arena with the Big Three, and have developed customizable software that matches up both visually and functionally. Potential operators choose to work with these smaller providers for varied reasons, but the reasons most frequently heard are either because they feel more comfortable working with smaller firms, they can negotiate better deals with smaller providers, or they like working with the company simply because they are geographically situated closer to the operator’s home.
For those that really want to get more deeply involved in the start-to-finish development of their online casino business, have a clear vision of exactly what they want, and have the time to invest in a truly custom casino solution, a boutique provider may provide an ideal solution. Boutique firms develop online casino software solutions unique to each operator, using the technical building blocks they already possess, to the exact specifications of the entrepreneur.
Two formidable boutique providers are KeyMS/Janus and Integrated Games. Both boutique firms work with operators from concept to deployment providing consultation as well as bespoke software development. The objective of both these providers is not to provide a turn-key solution, but to provide a framework to get an online casino up and running in its own unique configuration to the specification of the operator.
Bespoke software targets either operators with considerable gaming experience, or entrepreneurs with a solid education in the online casino business. Turn-key solutions favor operators that possess access to an existing player base that can be tapped into by offering online gaming.
So is it going to be a turn-key or designed solution? Is it going to be from a big or a small provider? And are you going for customizable or bespoke software? Whatever you choose you had better make sure that you’ve got it right, because whoever you buy from will lock you into your gaming software for a period of not less than two years, and if you don’t like your software, why would your players?