Turkish gambling market Overview of the Turkish gambling market
The government’s main argument against commercial casinos in Turkey is to prevent the laundering of funds. This was a problem when land-based casinos were legal in Turkey. They were prohibited in 1998.
While the country has made gambling illegal and gambling on iGaming illegal, it hasn’t stopped Turkey from pursuing it. In 2009 the figures indicated that 25% of Betsson’s revenues were derived from Turkish players. Even though there are government rules to prohibit online gambling, it does not stop Turkish players from participating.
This is a minor aspect. Therefore, due to the legal issues involved, you should not focus on establishing a business aimed at Turkish players. It is more beneficial to be aware than not.
As we’ve said, it’s evident that creating an online casino legal and legal iGaming company in Turkey that is targeted towards Turkish players is not feasible. However, suppose you’re capable of thinking outside the box. In that case, you will soon realize that as a Turkish investor or entrepreneur, you are still legally allowed to create an international company using the gaming license of another country.
It’s best not to fret about whether Turkish citizens can play at this stage because your main goal should be to target players from countries where online gambling is totally legal. We advise you not to concentrate on Turkish players because the Turkish authorities could penalize you and those who use it in Turkey.
We now have knowledge of the Turkish gambling landscape as well as iGaming laws. We can now move on to other important questions, such as how one Turkish citizen can legally and efficiently start an international online gambling company.
Six steps to begin an online casino as a Turkish investor
If you’ve begun to think about opportunities to expand your business internationally, Let’s look at an easy step-by-step framework for creating one. Before diving into the specifics, let’s emphasize that this process requires patience, enthusiasm, and the ability to take risks. It also requires business acumen.
You can make a profit if you’re willing to do everything. Here are the steps, and we’ll go into more detail after.
How to create a successful online casino business a guide for Turkish investors in 2023 1
1. Find a license for gambling.
Numerous gambling licenses can be obtained worldwide. Curacao is one of the most popular places to get gambling licenses for Turkish investors.
Many variables can impact the cost of the license, including location, the application process, the license period’s length and the gambling type, and the scope of the claims. This is why it is essential to conduct an extensive investigation. Gambling licenses share one thing in common they require detailed descriptions of their advantages and disadvantages in the application process.
Applying for a gambling license is the most significant of the six steps we have listed here and requires the most in-depth discussion.
What state should I go to for a gambling license?
The pros and cons of each license decide the location you pick. To help you decide, we have thoroughly covered many different locations’ assignments on our website, which we suggest you spend some time researching. Click here for more locations.
Particularly, we frequently recommend Turkish investors get the Curacao license over all others since it’s fairly simple to obtain, is cheaper than other licenses, and applies to various countries where you can operate.
How much do gambling licenses cost?
There’s no definitive answer. Licenses are different and include a range of other conditions, clauses, and payment types.
The period that licenses cover can often vary too. For instance, most licenses last for only one year, whereas licenses issued by Gibraltar expire in 5 years.
The renewal prices of licenses can vary wildly too. Some jurisdictions will want to know your annualized net gaming return before giving you a renewal.
Also, consider the time required to process your application. Some jurisdictions, such as The United Kingdom, can process up to 16 weeks. Some jurisdictions require a nonrefundable payment before deciding on your application, regardless of whether or not you are approved. Certain jurisdictions may even grant you a temporary license that you can use for a few days, however, at a cheaper cost.
Some jurisdictions might seem to offer low-cost licenses, but they also require various certifications, verification, and testing of your games and software. All of this is priced separately and will not be included in the initial fee for the application.
There are a lot of things to consider when calculating prices. The most effective method is to take a seat with a notepad and carefully calculate the costs for all areas you are interested in, along with their pros and cons.
2. You can register your business under the license
This is closely linked with step 1. Registering your business in the same area where the license is valid is common. Turkish investors should know that your Turkish business registration is unlawful and not permitted.
Like the license, the specific costs and processes needed to obtain it differ in every location. It is optional to be a resident of the country where you have registered your business, but being able to access it is something you should be aware of, particularly about time zones or communicating with a gaming licensing authority.
3. Analyze market demands for your target audience
There is a higher likelihood of success for your business by conducting more research. There are many areas to explore.
There are many things to consider when building a successful online casino business. Budgets should be planned to cover all expenses and also for future growth. Most importantly, study your audience. You need to understand their needs to be able to serve them effectively.
4. Create a brand concept and a marketing strategy
You’ll have to use your imagination and business expertise in this step.
This step is important in certain ways. It is necessary to have a business plan, along with a name, before you can apply for the license. Before you embark on steps 5 and 6 certain, you must complete this step.
Even when your business plan begins with just a few handwritten notes on napkins, it’s crucial to develop your ideas and research any possible names you come up with against existing competitors. Hiring professionals for business guidance is not ideal, especially when dealing with a specific subject such as SEO or Social Media marketing.
5. Find software to create an internet-based platform
Consider this step the foundation of your online casino business; without it, you can’t add games, PSPs, or any other type of function for players. Just like when you build your house. You’re going to succeed with a good foundation.
This might sound quite straightforward. However, there are many aspects to consider when designing any website that offers online gambling, gaming, and secure payment solutions. The services you provide must be not just safe for your company but as well as for players.
Depending on where you are licensed, your gambling platform must pass various operational tests to be legally legal. As a guideline, the higher quality of the gaming license, the more stringent the certification tests will be.
6. Incorporate payment systems (PSPs) games, and online support teams
It’s easy enough to understand that your business will be going nowhere without games, PSPs, and online support.
This is why you must research before deciding which services you’d like. Find your market to discover the best games and PSPs for these. If you choose a payment system that is not accepted within your region, you’ll do no business in that region www.phillwebb.net. This is also true for languages and games not desired or obtained in the target region.
Although it may sound obvious, you could save years of work and money on a project that needs to be fixed. Be smart and do as much research on the subject as you can. It’s okay to ask professionals for help.