Creating an Online Casino in Danmark: Is It Even Worth It?
Interest in online casino games is simply booming all across Denmark, but is it still a good business opportunity as it was a few years ago? Oscar Jorgensen, the casino expert with a degree in economics, weighs in.
State-Owned Takes the Lead
Each time people hear I studied economy they have some sort of question regarding investing and most of them are intrigued by the fact they can make money online, especially at online casinos. It is hard to blame them as the online casino industry, strongly based on the affiliate industry, used to be a no.1 additional income for many.
Before you enter the stormy waters of the online gaming industry, know that Denmark is a peculiar market. The most popular gambling pages are state-owned, leaving a small slice of cake to feed many mouths. In order to compete with so many, one has to stand out in the market, which is easier said than done.
Appealing Is Not Enough
Everyone, who is wishing to conquer the Danish market, must surpass all the expectations customers might have. Being an appealing casino with a user-friendly interface is not enough. Investors have to be ready to go high and low in gaining proper licenses. Considering the chances are fairly low that the State of Denmark will grant you one, visiting exotic locations, such as Curaçao, and establishing a business there is a must.
Legal costs of obtaining a license have immensely grown in the pandemic, along with transportation costs. Potential online casino owners must also be aware that maintenance costs money, and it is a constant feat, as new games are launched day after day. And if you choose to be one of those online casino paypal platforms, get ready for constant updates.
Danish investors will have to create a reliable system of support for their casino users. You can pick between more costly, but also more reliable Danish companies, or less reliable, but also much cheaper offshore support teams. And we are only scraping the surface here. Owning a casino business in Denmark is like facing an iceberg – you know what’s underneath the surface only after you hit it.
Retention – Mission Without an End
Once you have managed to survive all the turmoil, your job has just begun. Creating a casino and doing the paperwork is the easy part of the job (yes, even in Denmark). The hardest part of the customers is not even getting them to come through the virtual door of your casino, but making them stay there.
Retention is something even the biggest casinos in the gaming market struggle with. With shorter attention spans than ever and higher demands, players no longer stay loyal to one brand, and vote with their wallets to score the best deals instead. The constant chase after every customer is something only very few can afford.
Should I Start a Casino Business in Denmark?
Before you embark on this adventure, know that owning and running a casino is not a walk in the park. With the constant shifts in trends and technologies, casino owners are struggling to keep the brand alive. If you are still going with it, go with a plan, and be ready to adapt.
Image by Thorsten Frenzel from Pixabay