Turkish Investors’ Guide to Starting a Successful Online Casino Business in 2023
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Turkey has strict laws governing gambling, and both participation in and operation of land-based casinos and Internet iGaming enterprises are outright prohibited. The two exceptions to this rule are the IDDAA, a state-owned sports betting business, and the state-run lottery known as “Milli Piyango”. What are the possibilities for Turkish entrepreneurs and investors owners looking to break into the iGaming industry and appeal to players from across the world in light of all this? Furthermore, is it possible?
We are happy to inform you that there is, but in order to build a successful iGaming business in Turkey, you must be aware of all the processes and willing to take certain risks. See what we propose by reading on.
Overview of the Turkish Gaming Market
In order to stop money laundering, the government made a principal justification for opposing the operation of commercial gambling operations in Turkey. Even when land-based casinos were still permitted in Turkey, until 1998 (the moment when they were outlawed), this issue was a headache.
Therefore, even though the country has made it illegal for gambling and iGaming to thrive, this has not stopped Turkey’s hunger for it. For instance, it was projected that Turkish players accounted for 25% of all Betsson’s income in 2009. Turkish gamblers continue to participate in online gambling despite the government’s efforts to outlaw it. In any case, this is virtually a moot question, and we advise against concentrating on developing a company that targets Turkish gamers due to the legal complications involved; it is undoubtedly better to be cognizant of the situation than otherwise.
As previously stated, it is obvious that it is difficult to establish a legitimate online casino or iGaming operation in Turkey that caters to Turkish gamers. However, if you have the ability to think unconventionally, you will quickly see that, as a Turkish businessperson or investor, you are still permitted to establish a global operation utilizing a gaming license from some other nation.
At this point, it is best to not bother about whether Turkish residents are permitted to engage because your main goal should be to attract foreign players who live in countries where online gambling is entirely legal. In fact, we advise against concentrating on Turkish players in particular because doing so could result in sanctions from Turkey against both the players and you who use it there.
We can now move on to more significant topics, including how you, as a Turkish resident, can legally and successfully launch an international online gaming firm that will excel in the near future and find its way into the list of the best Turkish casinos on the Internet provided at topcasinoexpert.com/country/turkey/, now that you are familiar with the gambling and iGaming scene in Turkey.
As a Turkish Investor, There Are 6 Steps to Beginning an Online Casino Firm
Now that you are starting to think about the potential for your firm to expand internationally, we can talk about a step-by-step plan for doing so. Prior to going over the processes, we want to emphasize that this entire procedure necessitates: persistence, zeal, risk-taking, business savvy, and, of course, a large cash commitment.
You will undoubtedly be well off your way to starting a profitable business if you are prepared to put all of this information to use. After quickly outlining the steps below, we’ll go through them in greater detail:
Acquire a Gaming Permit
There are numerous gambling licenses accessible all over the world. Turkish investors frequently apply for gaming licenses in Malta, Curacao, Alderney, the Isle of Man, Gibraltar, Belize, Kahnawake, etc. There is a great deal of research involved because there are so many differences between these licenses in terms of their prices, locations, application procedures, duration of licensing periods, forms of gambling activity, and geographic areas that they cover. Gambling licenses all share the requirement for thorough justifications of their advantages, disadvantages, and application procedures.
The application for a gaming license is likely the most significant and in-depth discussion of the 6 steps we have covered here.
The advantages and disadvantages of the license that really is particular to your firm will determine the jurisdiction you select. We have extensively explored the licenses for many different areas on our site, and we advise you to take some time exploring to assist you to make a decision. Because it is more affordable than other licenses, easier to obtain, and encompasses a wide range of nations where you can operate, we frequently advise Turkish entrepreneurs to acquire the Curacao license before obtaining any other permits.
Unfortunately, there is no clear answer to this. Every license is unique and contains a variety of distinct terms, conditions, and additional layers of payment. Licenses frequently span a range of time periods. For instance, although the majority of licenses are only good for a year, Gibraltar permits are valid for a five-year period. The cost of license renewals can also differ greatly. Before extending you a renewal, certain jurisdictions will inquire about your yearly net gaming yield.
The processing time for applications is another consideration. Processing times in some countries, including the UK, can be as long as 16 weeks. Before processing your application, some jurisdictions may demand a nonrefundable deposit (no matter if you are approved or not). Some authorities may even be able to provide you with an inexpensive interim license that you can utilize for a set number of days only. Even though some jurisdictions appear to offer low-cost licenses, they actually have a number of testing requirements, verification, and certification for your games and software. Each of these will have a separate cost and is not covered by the application form fee.
As you can clearly see, there are several factors to consider when determining the costs. The best plan of action is to take a seat with a notebook and carefully estimate the overall costs of several locations that interest you, as well as their unique advantages and disadvantages.
Register Your Business with the Issuing Authority of the License
As you will typically have to register your company within the same area that the license covers, this step is closely tied to step 1 in the process flow. The most important lesson for Turkish investors is that you will not be registering your firm in Turkey because that is neither legal nor permitted.
The particular charges and procedures required to do this vary depending on where you are, just like the license itself. Even if you do not have to live there to register a business, you should carefully evaluate your access options, particularly when it pertains to time zones and corresponding with a gaming regulating body.
Consider the Demands of Your Intended Market
Continually conduct research! Your firm will have a better chance of succeeding if you do more planning and research.
This calls for careful consideration of your target market, the language you use to promote to them, the games they love to play, your marketing budget, potential future business expansion, and the recruiting of future support teams and employees. There is a ton of information on a wide range of topics and tremendous research.
The greatest advice is to never leave anything to chance because there are so many factors to consider when starting a successful online gaming business. Make budgets for all scenarios, including unforeseen costs and potential growth areas. Do your target audience study, first and foremost. You will not be able to properly service them if you do not comprehend their needs.
Establish a Marketing Plan and Brand Concept
You will have to employ all of your imagination and business skills in this step. In some ways, this phase ought to be your first priority because you need a business plan—complete with a name—before you can apply for a license. This is a step that must be finished before moving on to steps 5 and 6, without a doubt.
Even if your company plan only consists of a few scribbled notes on a notepad, it is crucial to develop your concepts further. You should also check any possible names you pop up against any current rivals. It is also never a bad idea to consult experts when seeking company guidance, particularly when the subject is specialized like social media marketing or SEO.
Obtain the Necessary Software to Build a Web Platform
Because you cannot add games, PSPs, or any additional type of interactivity for players without it, think of this phase as the backbone of your Internet casino business. Similar to constructing a house, you cannot progress without a solid foundation. Although it might seem simple, there are many things to take into account when developing any sort of website that provides safe financial services and online gaming. The services you provide must be secure for both your company and the players.
Your online gaming platform will also be required to undergo several operational testing and be verified as compliant legally, depending on the license jurisdiction you select. Generally speaking, the certification testing will be more difficult with the higher quality of the gaming license.
Integrate Online Support Staff, Gaming, and Payment Systems (PSPs)
It is simple to comprehend that your business will not succeed without games, PSPs, and Internet support. Your past research will help you choose these services. You must conduct market research in order to select PSPs and games that the market would support and value. You will not do any business in your targeted area if you select a payment method that is prohibited there. The same holds true for selecting games or tongues that the area does not desire or comprehend.
All of this may seem very obvious, but if you do not do your homework first, you risk wasting a lot of time and money on a venture that will not succeed. Make informed decisions and conduct as much research as you can. It is the professionals’ job to aid you, therefore do not be hesitant to recruit them.
