Overview of the Turkish gambling market
The government’s main argument against the operation of commercial gambling establishments in Turkey is to stop money laundering. This was a problem when land-based casinos were legal in Turkey. They were banned in 1998.
While the country has made it illegal for gambling and gaming to be legal, this has not stopped Turkey from craving it. In 2009, it was estimated that 25 percent of Betsson’s revenue came from Turkish players. Even though there are government regulations to ban online gambling, this doesn’t stop Turkish players from taking part.
This is not a significant point, so we recommend you focus on something other than creating a business targeted at Turkish players due to the legal issues involved. It’s better to be aware than not.
Creating a legal online gambling site in Turkey for Turkish players is impossible. If you can think outside the box, you’ll soon see that you’re legally permitted to start an international business as a Turkish investor or entrepreneur using a gaming license from another country.
It is better not to worry about whether Turkish citizens can participate at this stage. Instead, your focus should be on international players who live in countries where online gambling has been legalized. We recommend not focusing on Turkish players as the Turkish authorities may penalize you and those who use it in Turkey.
We now better understand the Turkish gambling landscape and iGaming laws. Let’s move on to more important issues, like how a Turkish citizen can legally and efficiently start an international online gambling company.
Six steps to start an online casino as a Turkish investor
Now that you have begun to think about international opportunities for your business, let’s talk through a step-by-step framework for creating one. Before we get into the details, let’s emphasize that this process requires patience, enthusiasm, and risk. It also requires business acumen.
You can create a profitable business if you’re willing to do all these things. Below are the steps, and we’ll go into more detail after.
A guide for Turkish investors in 2023 on how to create a profitable online casino business
1. Get a gambling license
Many gambling licenses can be obtained worldwide. Curacao is a popular place to get gambling licenses for Turkish investors.
Many variables can affect the cost, location, application process, length of the license period, type of gambling, and coverage of these licenses. This is why it is important to do extensive research. Gambling licenses share one thing in common: they need in-depth explanations about their pros and cons and the application process.
The gambling license application is the most important of all the steps we have listed.
What jurisdiction should I apply for a license to gamble in?
The pros and cons of each license will determine which jurisdiction you choose. We have provided detailed information on many license types and recommend you look. Click here to see more locations.
We recommend that Turkish investors obtain the Curacao license over all others. It is relatively easy to get, is less expensive than other licenses, and covers many countries you can operate in.
How much do gambling licenses cost?
There is no clear answer. Each license is unique and can contain many different clauses and layers of payment.
Licenses can also vary in terms of the time they cover. Most appointments last only for 1 year. However, Gibraltar licenses can be renewed for 5 years.
There are also many variables in the renewal price of licenses. Before granting you a renewal, some jurisdictions want to know the annualized net gaming income.
It would help if you also considered the processing time of your application. The processing time for some jurisdictions can be up to 16 weeks in the United Kingdom. Some jurisdictions require a nonrefundable deposit upfront before processing your application, regardless of whether you are approved. You can get a temporary license for a short period, but it will cost you much less.
While some jurisdictions might offer a low-cost license to you, others will require certification, verification, and testing of your software and games. These will be charged separately and are not included in your initial application fee.
There are many things to consider when calculating prices. Taking a notebook and calculating each region’s costs is a good idea.
2. Register your company under the jurisdiction of the license
This step is closely related to grade 1. You will normally need to register your company in the same place that the license covers. Turkish investors should know that your Turkish business registration is illegal and not allowed.
The specific costs and procedures required to obtain a license differ for each location. While you don’t have to live in the country where your company is registered, accessing it is important, particularly regarding time zones and communication with a licensing authority.
3. Analyze market demands for your target audience
Research, research, research!
You have a better chance of your business succeeding if you do more research. There are many areas to explore.
There are many things to consider when building a successful online casino business. Budgets should be set aside for all expenses and future growth. Do your research on your target audience. You can only serve them effectively if you fully understand their needs.
4. Design a brand strategy and brand concept
This is where your business acumen and creativity will be most needed.
This step is important. You will need a business plan, including a name, before you can apply for the license. This step must be completed before proceeding to steps 5 and 6.
Even if your business plan starts with a few notes on a napkin, developing your ideas and comparing any names against existing competitors is important. Hiring professionals for business advice is always a good idea, especially if it’s a niche area like SEO or Social Media Marketing.
5. Get software to build a web-based platform
This step is the foundation of any online casino siteleri business. With it, it’s possible to add games, PSPs, or other functionality for players. A good foundation is essential for building a house.
Although this may sound simple, there are many things to consider when creating a website offering online gambling, gaming, and secure payment services. Your business and the players must be protected.
Depending on where you are licensed, your online gambling platform must pass various operational tests to be legally compliant. The certification tests are more rigorous the higher the quality of the gaming license.
6. Integrate payment systems (PSPs) and games into your online support team
PSPs, games, and support online are necessary for your business to go anywhere.
This is where you need to do your research before making a decision about which services to choose. Research your markets to find the best games and PSPs for them. You cannot do business in your target area if the payment system you choose is blocked. This is also true for competitions and languages that are not desired or understood in the target region.
Although it may sound obvious, you can waste time and money on a project that isn’t working. Make wise decisions and do as much research on the subject as possible. It’s okay to ask professionals for help.