We all know that there are some ridiculous odds and winning prizes when it comes to casino games. Famous stories about people with incredible luck can easily spread. and these life-changing experiences inspire players all over the world. However, we also know that the number one winner in every one of these stories is a casino.
Casino games are all designed to have a house edge, so no matter the game you play the chances are tilted in the casino’s favor. Still, jackpots happen and you need amazing capital in order to pay off the winner. Moreover, there are tons of other expenses, so it would be interesting to see just what kind of capital is needed to open a casino.
It’s Not as Expensive as You Think
When we talk about casinos, we usually think about bit resorts and hotels much like the ones we see in Las Vegas. However, these are multi-million dollar investments and need to have an amazing turnaround in order to work. Clearly, it’s not impossible as there are over 100 gambling venues in Las Vegas, but it does not mean your casino won’t be successful if it does not mimic that model.
A casino can also be a gambling joint, which is one or two rooms with different casino games. You don’t even have to own a property, as renting is also an option. So take into account how many slot machines you wish to have and bear in mind that a single one of these can cost between $15,000 to $25,000. These are probably the most important expenses, considering how slots are the most played games in a casino, and most profitable for the owner.
You Can Start With an Online Casino
This isn’t exactly a budget-friendly solution when you compare it with the previous example, but it definitely allows you to accommodate more players. Online casinos that have the best slots with deposit bonus offers have turned out to be a really lucrative business model. And even some of the bigger land-based gambling venues are now expanding on the digital environment as well. However, you need to be prepared for a lot of expenses related to licensing, and software development as those are the main components of starting an online casino. However, once you launch the platform getting users can be easier than you think. All online casinos rely on Welcome and Slots Deposit Bonuses to attract new customers. These slots deposit bonuses usually give players free spins or more credits for playing slots games.
Whether you are going for a big establishment or a small casino, location is going to play a huge role. In order to attract guests or players, you need to be in a visible and busy location, which can turn out to be easier if you are going with a smaller setup. Hotels need massive parcels of land, whereas finding space that you can rent in an already noticeable spot can be easier.
Expenses for new games
Younger audiences might not find the traditional casino games as appealing as some of the regular players. Skill-based video games are more their speed, as a lot of them like the idea of making money playing online games, nowadays. Casinos were quick to act upon noticing this trend, and today there are lots of arcade machines that are optimized for casinos. These are all titles and gameplay mechanics players are familiar with, it’s just that the win condition is altered or adjusted to fit into the casino game category.
The costs of these machines are very similar to the slots, however, the winnings players can achieve here are way lower. In their essence these are skill-based games, so the more someone plays the better they get, whereas luck-based games have the same odds all of the time.
It is without a doubt one of the more lucrative ideas for startups that have been tried and tested. The problem is there are a lot of hurdles you need to go over before you open up or launch your product. This is a heavily regulated industry, and yes you will need a sizable capital for payouts as well. However, once you open your first casino, expanding the business will come easier. That being said, other circumstances must be taken into an account as well, like competition, and if the locals strongly oppose that business model.
About the Author
Chris Bell is a long-time fan of poker, sports, and esports. He loves blogging about iGaming and casinos. He works as a software developer and a dedicated team member at Gamblizard. In his free time, Chris plays FIFA, Poker, Snooker, and table football.