A brief overview of the Turkish market for gambling
The main reason for the government to ban the establishment of casinos in Turkey is to prevent the flow of money. This was a concern in the past, as casinos on land were allowed within Turkey. The establishments were made illegal in 1998.
Although the country has made gambling illegal and gaming legal, it hasn’t prevented Turkey from pursuing it. In 2009 the figures indicated that 25% of Betsson’s revenues were derived from Turkish players. Although there are federal rules to prohibit online gambling, it does not stop Turkish players from participating.
It’s not a major issue, and we suggest not concentrating on establishing a business aimed at Turkish players because of the legal concerns 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 takes time and effort. If you can think outside the box, you’ll soon realize that you can legally establish an international company as a Turkish investor or entrepreneur with authorization from another country.
It is best not to be concerned about the possibility that Turkish citizens can play now. Instead, your attention should be on players from abroad who reside in countries where online gaming is legal. We suggest that you do not concentrate on Turkish players because the Turkish authorities could punish you and others who play in Turkey.
We now have knowledge of the Turkish gambling landscape as well as iGaming laws. Let’s look at more pressing issues, such as how a Turkish citizen can legally and effectively establish an international online gambling business.
Six steps to begin an online casino with an investor from Turkey. Turkish investor
If you’ve started considering opportunities to expand your business internationally, Let’s look at the steps to create one. Before diving into the specifics, let’s be clear that this procedure requires patience, passion, and the ability to take risks. Also, it requires the ability to think strategically.
You can build a successful business when you’re prepared to do everything. Here are the steps to follow, and we’ll discuss more details later.
A guide to Turkish investors to 2023 on how to build a profitable online casino siteleri
1. You must obtain a gambling license
There are a variety of gambling licenses that are obtained throughout the world. Curacao is one of the most popular places to obtain gambling licenses for Turkish investors.
Many factors affect the license’s price, including location, application process and length of the permit, the type of gambling, and the coverage of the claims. This is the reason it is crucial to conduct an extensive study. Licenses for gambling have the same thing. They require in-depth descriptions of their advantages and disadvantages in applying.
The application for a gambling license is the most crucial of the steps we have included.
Which jurisdiction should I apply for a gambling license in?
The advantages and disadvantages of each license will decide the jurisdiction you select. We’ve provided detailed information about various appointments available for multiple areas, and we suggest spending some time researching. Click here to view additional locations.
We suggest that Turkish investors get the Curacao license over the rest of them. It’s relatively simple to obtain, much cheaper than other licenses and covers various countries where you can operate.
How much do gambling licenses cost?
There needs to be a clear answer. Each license is different and may include various terms and conditions and layers of payment.
Licenses also differ in the length of time they are valid. The majority of permits are good for one year. However, Gibraltar licenses can be renewed for five years.
There are a variety of variables that affect the cost of renewal licenses. Before giving you a renewal, certain jurisdictions should be aware of the annualized net gaming revenue.
It is also important to consider the time required to process your application. The processing time for certain countries, such as the UK, can range from 16 weeks. Certain jurisdictions require a non-refundable payment before taking care of your application, regardless of whether or not you’re approved. It is possible to obtain a temporary license for a brief period. However, it will cost much less.
While certain jurisdictions may offer an inexpensive license, other jurisdictions will require verification, certification, and testing of your games and software. These are paid for separately and not included in the initial application cost.
There are a lot of things to take into consideration when calculating the price. It’s recommended to carry notes and record the cost for every region.
2. You can register your business with the help of the license
This step is in close connection to step 1. Writing your business at the same location where the permit is issued is common. Turkish investors must be aware that your Turkish business registration is not legal and permitted.
The exact fees and procedures for getting the license differ for each place. Although you don’t need to reside in the country where your business is registered, accessing the permit is essential, especially when communicating with time zones and the licensing authority.
3. Analyze market demands for your target audience
There is a greater likelihood of success for your business by conducting more research. There are many areas you can explore.
There are many things to think about when creating an online casino that will be successful. Budgets must be set aside for all costs and also for future growth. Research your intended audience. You’ll be able to provide them with the best service if you know their requirements.
4. Create a brand strategy and brand idea
This is where your business acumen and imagination will be the most required.
This step is crucial in several ways. You’ll need an outline of your business, which includes an address, before applying for a license. This step has to be accomplished before you can move on to steps 5 and 6.
Even if your business plan begins with just a few notes written on napkins, it’s important to think about your concepts and compare names with existing competitors. It’s always a good idea to seek out experts to provide business advice, particularly in a specific area such as SEO or Social Media Marketing.
5. Find software to create an online platform
This is the primary element of any online casino’s business. With this, it’s possible to include games, PSPs, or other functionality for players. A solid foundation is crucial to building a house.
While this might sound easy, there are many things to consider when creating a website that offers online gambling and secure payment services. Your company and players need to be secured.
Based on the location you’re licensed, your online gaming platform has to pass various operational tests to ensure that it is legally legal. Certification tests are more stringent, and the more prestigious the license for gaming.
6. Incorporate payments systems (PSPs) games, as well as online support teams
It’s easy to realize that your business will only succeed with PSPs games, PSPs, or online customer support.
This is why you must research before choosing the services you’d like to use. Find out about your market to discover the most popular games and PSPs for these. It is only possible to conduct business in the area you want to target if your chosen payment method is allowed. It is the same for languages and games that the targeted region doesn’t want or recognize.
While it sounds simple, you could waste months of time and money on a project that’s not functioning. Make smart decisions and conduct as much research about the subject as possible. It’s fine to seek out professionals to help you.