Gambling in 2023: the Best Ways to Make Money on Online Casinos

To find such an offer as a turnkey casino website for sale is only half the battle. In order for the project to bring a good income, an investor needs to make every effort to attract and retain customers. The volume of traffic directly affects the competitiveness of a start-up and its turnover.

The Smart Money team has gathered comprehensive information about the features of high-quality turnkey online casinos and the best ways to monetise this type of business in 2023.

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The Gambling Sector in Numbers

By the end of 2020, the total market’s turnover reached 2.262 trillion dollars. Net revenues of companies working in the niche were about 400 billion dollars, and 65 billion of this amount came from the online segment.

According to H2 Gambling Capitals forecasts, the turnover of the digital sector will grow by 7–10% annually in the next 5 years.

Today, the situation with an online gaming sphere looks like this:

1. CIS countries, Eastern Europe. On average, a turnkey casino focused on local users brings from 15 to 100 dollars per person. At the same time, the cost of attracting a client (with an effective strategy) is only 1–3 dollars.
2. Europe and America. The average check for an international project is 100–200 dollars per player. The customer acquisition cost is about 10–15 dollars.

How to Calculate the Profitability of an iGaming Platform

It is possible to evaluate the profitability of a turnkey casino business using the following financial indicators:

1. Average revenue. This is the total amount of profit before operators cover administrative costs. Calculation formula: the size of deposits minus payments of prizes won by players.
2. Net revenue index. It shows the income left after the payment of licence fees, taxes, royalties, and other mandatory expenses. The task of the figure is to display the quality and relevance of the chosen strategy.
3. Net profit to deposits. The indicator shows the total turnover of the company and the percentage of revenues from all customers and partners.
4. Acquisition cost. This is the advertising budget that is spent per each new client. Only those users who have completed the specified action (registered on the website, participated in a specific game, replenished their account by a certain amount of money, etc.) are taken into account.
5. Revenue per player. Calculation formula: divide the total income by the number of active gamblers for the selected period.
6. Customer lifetime value. This is an indicator of the total profit from one user for the entire time of his activity on the gaming site. All advertising programs for online platforms are aimed precisely at increasing this parameter. Moreover, operators should try not only to extend the session time as much as possible but also make sure that players return and increase the amount of their average check.

If we take the total casino profit as 100%, the net income will be about 30–40%. Most of the proceeds will go to cover operating expenses:

• deductions to payment systems;
• licence fees;
• commissions for using the gambling software;
• money transfers to partners and members of the affiliate network;
• staff salaries;
• taxes;
• advertising expenses, etc.

Features of a High-Quality Gambling Project

One of the most convenient and fastest ways to enter the market is to buy an online casino from a trusted supplier. Such a decision will save the investor from unnecessary time and financial expenses and allow him to focus on the monetisation of a start-up.

Criteria for choosing the best turnkey online business:

Legal Status

A licence is one of the main documents that regulate the operation of a gambling establishment within the legal framework. Having the appropriate permit, entrepreneurs can get the following benefits:

• improved image of the brand in the eyes of customers;
• legal protection in case of any disputes with users, partners, suppliers, and other business participants;
• tax breaks and other financial/legal incentives;
• opportunity to work with international partners and financial organisations;
• a simplified program for obtaining a residence permit in the selected offshore zones.

The development of a reliable turnkey casino solution in the Smart Money studio involves the acquisition of a licence in the world's leading gambling jurisdictions.

We offer assistance in legalising your projects in such countries as:

• Belgium;
• Austria;
• Alderney;
• Costa Rica;
• Curacao;
• Malta;
• Italy;
• Gibraltar;
• Ukraine, and others.

Support for Mobile Users

At the beginning of the last year, the share of mobile traffic reached 50.8% of the total volume of digital casino visitors. The rapid growth of the market has led to the Mobile First phenomenon: all gambling trends are first developed for mobile platforms and only then adapted to work with desktop traffic.

One of the reasons for the development of the industry was a radical change in the policy of the largest IT corporations and access to new markets. Since 2020, operators can launch and promote iGaming content through the Google Play platform.

Payment Modules

The quality and variability of financial systems directly affect the security of the website with slot machines, its profitability in the market, and the volume of traffic.

Casino owners can work both with local services, focused on accepting only the national currency, and international structures.

Today, the most popular ones are payment systems with the following functionality and characteristics:

• built-in currency conversion option;
• the possibility of conducting transactions in digital assets (such a function has already been added to the largest international products: PayPal, WebMoney, and Visa);
• support for mobile clients.

Catalogue of Games

The decision to create online casino software solutions with many types of gambling entertainment guarantees a consistently high interest of the audience and a constant increase in the number of active users.

Traffic Monetisation: How to Make Money on Casinos in 2023

The main task of operators is to correctly form the marketing strategy and focus not only on the constant increase in the amount of traffic but also on raising such a figure as customer lifetime value.

In order for the launch of the turnkey casino software to pay off in record time, Smart Money experts offer entrepreneurs to use the following tools and services:

1. SEO optimisation. This is a multi-component program for adapting the gambling platform to the requirements of search engines. The strategy includes structuring the website, creating a link mass, filling the resource with text content, etc. Rational and well-designed SEO optimisation will bring the project to the top positions in search engines already in 6 months.
2. E-mail newsletter. A proven and inexpensive tool aimed at working with those users who have voluntarily consented to the processing of personal data. This method is used to notify customers about current special offers and make gamblers who have not visited the website for a long time return to it.
3. SMM promotion. It is a full-scale casino promotion program on social networks. The tool helps operators to find new markets, create trusting relationships with users, develop targeted offers, and “warm up” the audience.
4. Affiliate programs. Participation in partner networks allows business owners to rationally distribute their advertising budget and work with already interested clients who are ready to make their first deposit or take part in scheduled events. Moreover, participants in the program are the ones who are especially interested in supplying high-quality traffic since their level of income directly depends on the number of attracted players.

Bonuses as Part of the Marketing Program

The level of loyalty of the audience depends not only on the quality of software and the variety of content. An important role in the retention of users is played by the bonus program.

Let us consider a list of the most popular options in 2023 according to Smart Money experts:

1. Welcome bonus. A cash reward for the registration and deposition of funds for the first time.
2. Cashbacks. The program of a partial refund of bets for a certain period.
3. Game bonuses. Non-material rewards that motivate gamblers to keep playing: access to new levels, new avatars, free spins, increased multipliers, etc.
4. Tournaments. Competitions with different prize pools (money, in-game bonuses, trips, household appliances, and much more). The organisation of tournaments can attract the attention of potential customers and make inactive users return to the gaming site.

The Main Things about Ways to Make Money on Online Casinos in 2023

The gambling industry continues to be the leader in terms of growth rates and is considered one of the most promising markets for investing in 2023.

• Stable earnings are guaranteed only for legal casinos. The availability of a special licence allows operators to work in the international market, provides comprehensive legal protection, as well as a large number of tax benefits.
• A marketing program will help you to monetise traffic. Among the most promising tools in 2023, there are SEO optimisation, social media promotion, e-mail newsletters, and participation in affiliate programs.
• It is possible to increase the profitability of a casino with the help of bonuses. They are an integral part of the marketing strategy, which is responsible not only for customer retention but also for the increase of the average check per session.

The Smart Money company will advise you on how to open an online casino taking into account the latest industry trends and what actions need to be taken to ensure the fastest payback of the project.

We offer comprehensive ready-made solutions and a wide range of products for business scaling, such as:

• live games;
• mobile content;
• payment systems;
• licences;
• Bitcoin casinos;
• sportsbook software, and much more.

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For all questions, please contact our managers.