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Extendy. How much does it cost to operate an online casino?

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When thinking about launching their own online casino, many arbitrageurs consider a white label solution as the best option. With so many platforms on the market to choose from, it’s no wonder that many may feel deterred by all the work involved. Fully-fledged, high-level operations are offered only by a few white label casinos. What’s more, attempting to launch an online casino by one’s self essentially involves building a new business from scratch with all the risks and pitfalls that accompany it.

In this article, we will discuss all that goes into launching and operating an online casino based on one of our experience, the main departments and tasks involved, the number of employees needed at the start, and the costs involved in employing teams of iGaming professionals.

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Payment Processing / PSP

Deals with player payment processing – from connecting payment methods to quickly resolving issues with deposits.

While part of the team monitors deposit drops, the other works ‘on the front line’ 24/7. This involves handling all player requests, and financial reconciliation. The Payment Processing department also ensures the necessary number of payment methods and their proper functioning: searching by GEO, signing, testing, integration, routing (switching payment methods), and communicating with payment account managers.

Included in the tasks of the Payment Processing team are helping to avoid signing unreliable payment methods, ensuring quick onboarding and annual payment method verification, quickly resolving deposit issues, and thus avoiding additional chargeback fees.

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The department includes monitoring managers, inbound request handlers, business developers, lawyers, account managers, and technical specialists. To set up a PSP team would require at least 5 employees, with the cost of the team starting from €9000 depending on the location.

Payments, Risk & Fraud

Handles KYC, regulates payments, conducts checks when necessary, and identifies and combats fraud. While the team primarily uses automated solutions in their daily tasks, a significant part of the daily work is performed by employees.

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Payment verification is carried out in several stages. Identifying fraud sometimes resembles detective work – one needs to study the overall behavior of different groups of players and look for patterns. Fraud is constantly evolving which also means employees in this department will be continuously analyzing, adjusting and tweaking processes to prevent fraudulent clients from returning, and to prevent various risks, including license complaints.  

 

The department’s work affects direct potential losses from fraud, which can be quite substantial. A few months back, thanks to the quick work of the Payment, Risk and Fraud’s team, we were able to promptly identify and prevent a potential case of abuse of funds which could have cost us several hundred thousands of dollars.

 

When setting up a Payment, Risk and Fraud team, you could expect small volumes of FTDs (First Time Deposits). This means you can start off with a team of 6 employees which would cost around €9000 a month. Training employees and finding employees who are well-experienced in identifying unusual fraudulent schemes can prove to be particularly difficult, so these aspects should be taken into consideration.

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CRM

 

Responsible for tournaments and gamification, this department’s key functions are player retention and upselling. The functionality can vary depending on which CRM system is used: more advanced solutions allow you to set up more flexible chains of actions and bonuses, quickly connect new GEOs, introduce player missions, and much more. However, such systems require more experienced employees to launch and manage activities for different segments of players, including VIPs.

When setting up your online casino, you could be looking at recruiting three CRM managers for one brand, and, depending on the location and the managers’ experience, the cost could begin at around €8000. Once again, it is important to consider the few experienced specialists on the market which could mean the price could be even higher.  

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Game Management

 

Responsible for negotiating with game providers and discussing promotions with game studios. The game management department also handles the placement of games on the casino site while taking the GEO into account. For instance, players in different countries will likely prefer different games. Localisation and dedicating proper prioritization to players will help increase casino revenue.

Specialists with a deep understanding of games and the markets might be hard to come by, and the cost of one manager when setting up a brand could start at around €2000 depending on the location.

 

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Content

 

Responsible for player communication. This includes explaining tournament rules, drafting marketing material about upcoming tournaments and campaigns, drafting notifications, email newsletters, Gamble Addiction & Anti-Money Laundering policies, payout rules, various terms and conditions, and much more.

Discrepancies in the terms and conditions of ongoing tournaments can lead to thousands of support requests and even more serious consequences such as discrepancies in payout limits indications, followed by player complaints and license revocation.

When launching your content department, each language team can consist of 3 content writers who are native speakers of the language they are writing in, with each team costing around €5000 per month.

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BI Analytics

 

One of the most important departments in an online casino, its main aim is to help the business make the right decisions. BI is critical for marketing, VIP management, CRM, antifraud, payments, and much more. The analytics team processes huge amounts of data from various sources, allowing other departments to monitor important metrics, evaluate efficiency, and optimize work.

Building an effective BI Analytics department can take up to a year and costs start from around €300,000 per year. The main expenses are the employees, software, and hardware. We should point out that investing more in the employees, or choosing rather to invest in the software aspect will have an effect on the level of automation but will not significantly impact the final cost. 

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While “Ready-made solutions” usually provide access to an analytical solution, there still needs to be someone who will manage it. Therefore, an operational team with high expertise is needed. Its size can vary from 5 to 20 employees depending on the tasks and solutions used. On average, the cost of the team’s work, including software and hardware expenses will be around €25,000 euros per month. An analytics team can start out with three employees, and can cost about €14,000 euros per month.

 

Support

 

This is the first point of communication for players, and the quality of the department’s work directly affects player retention and loyalty. Properly written player communication scripts, case resolution algorithms, and team training help with this.

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Support agents work 24/7 to help solve various problems encountered by players regarding fund deposits and withdrawals, player and payment verification, and account settings. Customer support agents also explain tournament rules, promotions and campaigns, as well as casino features such as bonuses, missions, etc.

An effective customer support team usually includes between 20 to 70 customer support agents, depending on the level of automation and the GEOs involved. As the number of GEOs grows, finding enough employees with the required language skills and suitable experience can be a challenge. When setting up a customer support team, you need to consider starting out with at least 6 people, and the cost of this team would be around €7000.

 

Call Center

 

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Partially complements support functions in solving new player problems but also performs other important business tasks, such as reactivation. A properly set up call center could mean a return of up to 20% of players.

Another function of call centers is collecting feedback and passing it onto the product team. For example, optimizing bonuses could result in players receiving more attractive rewards and an increase in deposits for the casino.

A call center department can start off with two employees, and can cost around €3000 per month.

 

VIP Management

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Working with VIP players is key in casino operations, ensuring retention of high-paying clients and revenue growth. VIP managers develop a VIP management strategy and set metrics to classify clients as VIPs, such as average bet size, frequency of play, or deposit amount.

The main principle in working with VIPs is to provide a highly personalized service through creating exclusive promotions and bonuses based on the VIP players’ preferences and actions on the site. Unique bonus calendars need to be developed for each product the client plays: casino, sports, live.

The VIP manager should have a good sense of the player, a desire to solve problems, and have a sense of empathy, as well as be able to upsell bonuses, games, and other offers to the client.

The department also handles objections, resolves complex cases, and legal issues together with lawyers and other departments such as Risk & Fraud.

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When starting out, a VIP department can consist of two managers, and should cost around €6000.

Conclusion

 

When launching an online casino, you’ll be looking at a minimum of 30 professionals and a minimum monthly cost of €63,000. This amount is based on CIS countries and only includes the net salaries of department heads and employees, mainly at mid-level. When hiring on the international market or head-hunting the best industry professionals, you could be looking at double the cost per team, and possibly higher.

Extendy is a white label solution that offers turnkey operations without additional costs for partners. We look forward to discussing the possibilities of launching your online casino brand. Reach out to us by filling in an application on the website  if you want to discuss the possibility of cooperation and launching your casino brand with us.

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The post Extendy. How much does it cost to operate an online casino? appeared first on European Gaming Industry News.

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10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)

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Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.

Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.

Recognizing Early Signs

“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:

Exhaustion and Irritability

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Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.

Gaming Obsession 

If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.

Decline in Academic Performance and Lost Interests

A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.

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Emotional Volatility

Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.

Physical Strain

Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.

Neglecting Basic Needs 

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If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.

Creating a Supportive Environment

While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.

Teamwork and Setting Boundaries

“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.

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Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.

Open Communication

Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.

Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”

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Latest News

Week 51/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

PG Soft has released its epic samurai saga, Geisha’s Revenge. Set among Japan’s opulent teahouses, the game follows leading light Ayane on her quest to seek justice for her family by the ruthless samurai. Geisha’s Revenge is a video slot presented within a framework that has five reels, the first of which has five rows and the next four have six rows.

PG Soft releases samurai saga Geisha’s Revenge

 

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3…2…1… Get ready for blastoff in Wild Moonsters, the latest intergalactic slot adventure from in-demand studio, Silverback Gaming. Players go on a cosmic thrill tide as they navigate a hexagon game grid to create stellar clusters of 4+ matching symbols to form wins. They also need to keep their eyes out for the Wild symbol, which shoots excitement, and big win potential, into the stratosphere.

Reach the big win stratosphere in Silverback Gaming’s Wild Moonsters

 

TaDa Gaming has released its latest slot game, Lucky Jaguar. With three rows, three reels and five fixed play lines, this fast gameplay slot delivers wild bonuses and multiplier bonuses alongside the TaDa Extra Bets and Lock and Respin features. The wealth of the Aztec empire is waiting in Lucky Jaguar in both the main game and the bonus game, which can trigger randomly at any time to deliver the Lock and Respin feature.

 

ICONIC21, the in-demand provider of live content, continues to push boundaries with the addition of slots to its growing game portfolio. The provider’s slot games will combine classic mechanics, engaging narratives and fun characters offering players an interactive experience throughout. The first slot titles to go live will be Solar Sands, Vitamin Joy, Tortuga Fortune and Juicy Coins: Hold & Win with ICONIC21 planning to launch one slot per month in 2025. The slots are high volatility ones, with max wins ranging from x300 to x36,000. Wild & Scatter Symbols, Hold & Win, Bonus Rounds, Multipliers and Free Spins ensure the games have a fluid, entertaining gameplay.

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ICONIC21 boosts product offering with slot games

 

BGaming takes the concept of the ever-popular premium rubber duck stores and swings open the doors to its own slot version in Lucky Ducky X-Mas Edition. This quacky festive title features the popular MergeUp™(patent pending) mechanic with nine levels, Free Spins with multipliers up to x128, and both the Buy Bonus and Chance x2 buttons.

Unlikely festive hero rules the reels in BGaming's Lucky Ducky X-Mas Edition

 

Evoplay has launched Sea of Wealth, an underwater adventure combining engaging visuals and innovative features. The game features a 3×3 reel layout with symbols inspired by marine life and hidden treasures. Poseidon serves as the Wild symbol, while his Trident activates the Bonus Game when paired with Bonus symbols. With Trident Magic, Poseidon’s Trident collects values from Bonus symbols, while Trident Shot can trigger a transformation of random symbols on reels 1 or 3 into Bonus symbols, increasing the likelihood of activating the Bonus Game.

Evoplay dives into new depths with Sea of Wealth

 

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Nolimit City returns to the most profitable sweatshop in the business in Outsourced: Payday. Workers have been replaced by claws who never call in sick! This Labs-branded slot takes the Outsourced theme to the next level. This is yet another experimental game that changes the way players enjoy Nolimit City’s slots.

 

Battle the beast and claim untold riches in Jolly Roger Wild Kraken! This high-seas pirate expedition takes players deep into the Kraken’s lair, where treasures await those brave enough to face the fury of the legendary Wild Kraken. Play’n GO’s latest release brings back Captain Red Roger in an all-new nautical escapade. Having braved countless dangers in search of treasure, Roger now sets his sights on Kraken Deeps – a perilous archipelago shrouded in mystery and riches.

Face the fury of the deep in Jolly Roger Wild Kraken!

 

PopOK Gaming announced the launch of Papai Noel da Fortuna, the latest holiday-themed slot game. Just in time for the season of joy, this exciting release captures the magic of Christmas and New Year with festive fun, dazzling rewards, and immersive gameplay. Step into a winter wonderland where Santa Claus himself takes center stage, filling the reels with sparkling ornaments, golden bells, and overflowing gift bags. With Papai Noel da Fortuna, every spin is a celebration of holiday cheer and fortune.

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PopOK Gaming Brings Festive Cheer with the Release of “Papai Noel da Fortuna”

 

ELA Games, a modern and trailblazing game development studio, announces the release of its latest game, Wealth of Legends. The slot aims to attract players of various audiences with its unique format, exciting graphics and captivating features. The 5×5 game pays all ways, giving players plenty of opportunities to win during the base game, keeping the playing experience engaging. Landing a coin symbol in the special zone triggers the Hold & Win feature, which begins three free re-spins. Collect special jackpot coins for a lucrative win!

Discover the Wealth of Legends: ELA Games’ Adventurous New Mythological Title

 

 

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Compliance Updates

Stakelogic Secures License to the newly regulated Danish market

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Industry-leading provider secures license to provide slots and live content in Denmark

Award-winning casino content provider Stakelogic has obtained a license from the Danish Gambling Authority, Spillemyndigheden, to provide its gaming content in Denmark.

The license will allow Stakelogic to bring its premium portfolio of online casino slots and live dealer content to the Danish market, including recent releases like Fire and Gold Cluster Breaker, Super Wheel Game Show, Trident of Legends, and The Watcher.

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Stakelogic is able to partner up with leading Danish operators, establishing itself as a must-have provider in the country. The move further highlights Stakelogic’s commitment to strengthening its position in the European market and exploring new and exciting regulated markets.

The license also further cements the company’s presence in the Scandinavian markets, having secured a license from the Swedish authority, Spelinspektionen, in 2023 and establishing itself as a popular provider among Swedish players.

Denmark is one of Europe’s fastest-growing markets, with a strong focus on customer care and responsible gambling. Stakelogic is proud to have met all the requirements needed to obtain the license, highlighting its commitment to providing players with the best and safest gaming experiences.

Stephan van den Oetelaar, CEO at Stakelogic, said: “Denmark is one of the fastest growing markets in Europe, and we are proud to have achieved a license to the newly regulated market.

We are grateful to Spillemyndigheden for their support in us and we are excited to take our next steps into the market.”

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