Live casino online: No place for the poor·02.02.17
Live casino owners have at least two things in common. First, all of them are well-to-do businessmen. Second, they know the value of money. However, most of them raised their startup capital not by gambling. Online gambling business has a high entry threshold, and only few entrepreneurs can afford expenses that big.
European gambling market is the leading gambling platform in the world. It is divided between multiple live casino operators. Rules of the game are established by high-profile live casinos and European regulatory bodies. A random market player has a very slim chance of becoming a part of this industry.
To be able to provide gaming services in a European country, a new casino operator must obtain a license issued by regulatory authorities. Furthermore, it must accumulate enough money on its bank accounts to guarantee solvency and fair play. More importantly, you can’t start a business without some experience in online gambling industry.
The last requirement makes it literally impossible for a newcomer to build gambling business. One of the options is to make a partnership agreement with a gaming company with a strong presence in the local gambling market. Pretty much any European country has strict requirements. Tough legislation aims to filter out dishonest and unreliable market players that may wreak havoc in gambling industry and undermine its hard-earned reputation.
Licenses, permits, and gaming software
Live casino license is very costly. Its cost depends on the size of a gambling market you’re entering. For example, launching your live casino in Great Britain will cost you millions of dollars in investments. Furthermore, you will have to obtain multiple permits and certificates.
Game software is associated with big expenses as well. Live casino online is not allowed to use their own software or products by some unknown company. You must work with a limited number of renowned casino software manufacturers. High quality of their products is backed up by multiple certificates.
Furthermore, you cannot buy slot games. Instead, you need to pay a monthly fee to software producers. The amount of fee is determined by the total amount of bets made on slots.