An overview of the Turkish market for betting
The primary argument of the government to stop the granting of licenses to commercial gambling companies to operate in Turkey is to protect against money laundering. This was a concern in the past, as land-based casinos were legal in Turkey. The establishments were made illegal in 1998.
Although the country has made gambling illegal and gaming legal, this hasn’t hindered Turkey from seeking it out. In 2009, 25% of Betsson’s profits were estimated to be derived from Turkish players. While there are regulations to ban online gambling, that isn’t stopping Turkish players from participating.
It’s not a major point, so we recommend not concentrating on developing a company targeted toward Turkish players due to the legal issues involved. It is more beneficial to be aware than not.
Establishing a legal online casino in Turkey or an iGaming business geared towards Turkish players is challenging. However, suppose you are capable of thinking outside the box. In that case, you’ll quickly realize that you are still legally permitted to establish an international business with a gaming license from another country as a Turkish entrepreneur or investor.
It’s better not to worry about whether Turkish citizens can play in the present moment, as your focus should be on targeting players from countries where online gambling is legal. In reality, we’d suggest that you not focus on Turkish players in any way because the Turkish authorities can penalize you and players who use it in Turkey.
We now have an improved knowledge of the Turkish gambling landscape and iGaming laws. We can now move on to more important issues, like how a Turkish citizen can legally and effectively establish an international online gambling company.
Six steps for starting an online casino company as an investor in Turkey. Turkish investor
If you’ve begun to look at opportunities to expand your business internationally, Let’s look at the steps to help you create one. Before we discuss the steps, we want to stress that this whole process requires: patience, enthusiasm, risk, business expertise, and of course, a large financial commitment.
If you are determined to implement all these steps, you’ll be on your way to creating an effective business. Here are the steps and we’ll discuss more detail later.
A guide to Turkish investors in 2023 on how to create a profitable online casino
1. Get a gambling permit
There are a variety of gambling licenses that are obtained throughout the world. Curacao is a well-known location to obtain gambling licenses for Turkish investors.
Many variables can affect the cost locations, the process for applying and the length of the license, the type of gambling, and the coverage of these licenses. This is the reason it is crucial to do extensive research. One thing that gambling licenses do share is that they require thorough explanations regarding their pros, disadvantages, and process for applying.
Of the six steps we have identified here, the gambling license application will most likely be the most crucial and in-depth review.
Which jurisdiction should I apply for a gambling license in?
The advantages and disadvantages of each license will decide which jurisdiction you choose. We’ve provided a comprehensive list of permits for different locations, and we recommend you research. Click here for more locations.
We recommend that Turkish investors get the Curacao license over the rest of them. It is relatively easy to obtain, less expensive than other licenses and covers many countries you can operate in.
How much do gambling licenses cost?
There’s no definitive answer. Licenses are different and include a range of other clauses, conditions, and payment types.
Licenses can also vary in terms of how long they are valid. Most appointments only last for one year. However, Gibraltar licenses can be renewed for 5 years.
There are a variety of variables in the renewal price of licenses. Certain jurisdictions should be aware of your annualized net gaming return before giving you a renewal.
There’s also the processing time of applications to take into consideration too. The processing time for some areas can take up to 16 weeks, including the United Kingdom. Some jurisdictions require a nonrefundable fee upfront before taking care of your application, regardless of whether you are approved. Some jurisdictions will even give an interim license you can use for a limited number of days but at a significantly lower cost.
While some jurisdictions might offer an inexpensive license, others will require verification, certification, and testing of your software and games. These requirements will be paid separately and not included in your initial application fee.
There are a lot of things to consider when calculating prices. The most effective method is to get seated with an eraser and meticulously calculate the costs for all regions that interest you and their advantages and disadvantages.
2. Create your company’s profile with the help of the license
This step is in close connection with step 1. In most cases, you must register your business in the same area where the license is valid. Turkish investors must know that your Turkish business registration is not legally allowed.
The specific costs and procedures required for obtaining authorization differ for each state. While you do not have to live in the country where your company is registered, accessing it is important, particularly when communicating with time zones and the licensing authority.
3. Analyze market demands for your target audience
You are more likely to succeed in your business if you do more research. There is a lot to do in the study of a myriad of different fields.
There are many aspects to consider when building a successful online casino business. Budgets must be set aside for all costs, in addition to the possibility of growth in the future. Also, it would help if you researched your target audience. You’ll be able to provide them with the best service if you fully comprehend the needs of your audience.
4. Design a brand strategy and brand identity
This is where your business acumen and creativity will be the most required. This should be your first port of call since you’ll need an outline of your business (including an address) before applying for the license. You must complete this step before being able to embark on steps 5 and 6 certain.
Even even if your business plan starts with a few handwritten notes on a napkin, it’s important to develop your ideas and also research any possible names you come up with against existing competitors. It’s always a good idea to seek experts to provide business advice, particularly in a niche field like SEO or Social Media Marketing.
5. Get software to build a web-based platform
This step is the basis of any online casino business. With it, you can include games, PSPs, or other functionality for players. It’s just like building a house. You’re going to succeed with a good base.
While this might sound easy, there are many things to consider when creating a website offering online gambling, gaming, and secure payment services. The services you offer not only need to be safe for your business as well as for players.
Depending on the licensing jurisdiction you choose, the gambling website you select will also need to be able to pass various tests of operation and be certified to be compliant legally. Certification tests are more thorough, as the greater the quality of the license for gaming.
6. Integrate payments systems (PSPs) and games as well as online support teams
It’s easy enough to understand that with games, PSPs, and online support, your business will be able to grow.
Choosing these services is where your prior research comes in. Please find out about your market to discover the most popular games and PSPs for them. If you select a payment system that isn’t available in your target region, you’ll do no transactions there. The same goes for choosing games or languages the area doesn’t want or can’t comprehend.
It may sound simple, but if you research first, you could save many months of work and funds on a project going nowhere. So choose wisely and do the most thorough research you can. Feel free to engage professionals to support you. It’s what they’re doing www.phillwebb.net.