There are many ways people from a creative niche, which are also interested in the exciting part of online games and gambling, can earn money. For instance, you can become a casino affiliate or even create your gambling affiliate programs. But, how do you accept money for your services? Find out how to open a merchant account to earn money in this Maxpay article.
Gambling affiliate programs and merchant account opening
Gambling affiliate programs are a great business idea if you have multiple business partners within the online betting or casino industries. Finding marketing specialists who would want to dedicate their time to such work is not a big issue. Today, many specialists worldwide prefer remote everything – from online banking to work and studying. People get more time to improve their skills, and you get a bigger pool to choose the best experts for your gambling affiliate program.
But to accept money for their services, such businesses need a reliable payment gateway with lots of experience in the industry.
Using it, you can accept money from multiple online casinos seamlessly – track every transaction and make mass payouts to your employees! And the sophisticated reports system will keep you posted on your business performance at all times. Maxpay has an anti-fraud system, as well as many chargeback prevention services. All in all, this is an excellent solution for a gambling affiliate program.
What is a casino affiliate?
If you have ever dealt with affiliate marketing, you can probably recognize the term’s meaning. The affiliates act as the third party between gambling establishments and their clients. Their job here is to use promotion and other marketing techniques to attract as many customers to the online casino websites as possible.
How do casino affiliates make money?
Affiliates earn money by promoting betting companies and their services. So, the businesses then pay affiliates a commission from all the clients they attract using their marketing campaigns. The affiliates can use gambling affiliate programs to find clients among online companies. Said gambling affiliate programs allow the marketing specialists to connect with multiple clients from the industry and take on their tasks if interested. As we described, the gambling affiliate programs can open a merchant account using online banking services.
How much money do you need to start a gambling site?
You will need a license, as well as an understanding that this activity is highly taxed. You can get a license in different European countries, some of which have harsher terms and fees. Below, we have gathered the rough estimates for some of the nations. Based on this data, we advise you to continue your research on the prices, as there are many things to consider, and different services’ charges vary.
Great Britain: The license application will depend on your estimated annual income: less than 550 thousand pounds – 4693 pounds. And 41243 pounds with an income of more than 1 billion pounds.
The annual payments will cost you from £5,282 (£550k in income) to £1.077m, plus an additional £200k for every billion earned.
France: Here, the tax is levied as a percentage of revenue. Up to 100 thousand euros of income – 6%. From 1 to 1.5 million euros – 47%. More than 14 million euros – 83.5%. You also have to pay the tax levied by the city where the casino is established. The terms are covered in an agreement between the city and the casino and cannot exceed 15% of the gross gambling income.
Malta: Here, you get the fixed annual activity fee of 25,000 euros. Furthermore, depending on the specifics of your business, there are different types of licenses, but none of them offers more than a 5% fee of your earnings. So, for example, under a type 1 license, you will pay 1% for every euro over 4.5 million in revenue.
Lithuania: All licensees must pay 1 million euros upon obtaining a license, plus an additional fee depending on the license type. For slot machines, it is €300,000; for bingo and betting, it is €100,000; and for remote gambling, it is €500,000.
Also, online gambling operators must have at least €1.2 million of capital, €289,000 for online sports betting, or €144,000 for online racing bets. The tax base is 5%, on top of which market operators add tax on their activities. For example, the tax on online gambling we are interested in is 13%, and then we add the tax base and get 18% on revenue for the quarter.
Is it legal to start an online casino?
It is legal to have an online casino, but you need to consider that not all countries allow establishing such a business on their territory. But it’s not an issue, as you can get a license from another country – we described some of the prospects above. And, what’s great about online casinos – you can have clients from all over the world – US, Europe, you name it! All you need is to find an international online banking service and open a merchant account within it.