Ever dreamed of making money from online casinos? You’re not alone. Research firm Statista values the iGaming industry at $90 billion. This is more money than Disney, Facebook and Hollywood generate per year.
As such, there’s a lot of money to be made. All you need is to discover what works for you and run away with it. That said, below are some of the best ways to make money from online casinos.
1—Playing Casino Games
The easiest way to make money from online casinos is to indulge in gambling. It’s a straightforward process. You find an appropriate casino. You create an account, add funds to your account and choose a game to play.
Now, finding the right gambling site is easier said than done. There are plenty of casinos online. But you need to ensure they operate in your region. What’s more, find out the games they offer, bonuses and payment methods.
Many online casinos provide a variety of slot machines, bingo, roulette and card games like blackjack, baccarat and poker. Each game has its unique benefits and risks.
Take slots as an example. Progressive slots give you the chance to win millions of dollars. But they’re incredibly volatile and only a few people win. By comparison, poker lets you utilize skills to beat your opponents. On the downside, there’s always a better poker player out there.
2—Work for an Online Casino
Working for online casinos isn’t as challenging as it sounds. Think about it. Every online casino in the worlds needs a developer, web designer, marketer, content creator, accountant, managers and customer service agents.
In light of that information, determine services you can sell to gambling sites. Maybe you can craft marketing copies. Approach casino sites and offer to write for their blogs.
Maybe you’re good at customer service. Contact a handful of casinos to find out if they need support agents. If you’re a developer, you can build chat bots, animations or work as a full stack developer.
There’s a catch, though. Some online casino jobs require that you relocate. Most gambling sites are located in Malta, the UK, South America and the US. So, you need to relocate to one of these places.
However, they’re jobs you can work remotely, say content writing, digital marketing and graphics designing. The beauty of remote jobs is that they also allow you to work for multiple companies.
3—Start an Affiliate Marketing Website
Affiliate marketing is one of the best ways to make money from online casinos. Here’s why. You don’t have to risk your money on slots and blackjack. Secondly, you don’t need to apply for a job in Malta or Curacao.
With affiliate marketing, you agree to market online casinos through blogging, social media, YouTube videos or even word of mouth. Gambling sites give you affiliate links to share with your audience and a promise to pay you $5 to $100 for every new customer you help them get.
That said, getting people to sign up to new casinos through your affiliate links is hard work. That’s why most marketers have blogs in addition to social media and YouTube channels.
You need as much traffic to your websites and YouTube channels as you can. That’s because not everyone coming to your site will click through your affiliate links. Most people simply want to read guides and news on your website.
If successful, affiliate marketing can be a great way to make extra money online. Imagine getting paid $20 for every customer you help a site get. With 100 referrals, you could easily earn $2000 per month.
4—Buy Casino Stocks
Another way to make passive money from gambling sites is to buy their stocks. Usually, only the biggest brands appear on the London Stocks Exchange, NASDAQ and the New York Stocks Exchange.
All the same, some of these companies have been growing at tremendous rates in the past couple of years. Although you can invest in specific gambling brands, investing in an ETF spreads your risks to a handful of stocks.
That way, one stock plummeting in value doesn’t have to drag the overall value of your shares by a lot. Of course, the downside is that ETFs don’t skyrocket as quickly as some single stocks.
Another downside of investing in stocks is that they don’t offer guarantees to make money. Take this year as an example. The stocks trading business has been on a downward trend. As a result, some gambling stocks are down by more than 50%.
5—Start Your Own Casino
So, you’re an entrepreneur? The online casino industry is booming in all parts of the world. That means there’s room for new gambling sites. Take note, though, running a gambling business is challenging and lots of new casinos close down in the first year.
With that in mind, you need deep pockets to launch an online casino. First, you have to pay for licensing. This can range from $5000 in the UK and Malta to more than $1M in the US.
Then there’s paying for gaming software, website design, management and marketing. It also takes a lot of time to become profitable as a new online casino. If you lack the patience and the desire to make your business grow, it will probably fail.
6—Start a Twitch Channel
Streaming on Twitch is a fast-growing trend, and not just among video game fans. Casino lovers are also getting on the Amazon-owned network. Predicably, gambling fans create streams about slots, blackjack, poker and other popular games.
The most followed Twitch streamers broadcast games for hours. In turn, they attract up to 10,000 viewers concurrently. Of course, attracting large followings and viewers is how you maximize your profits on the platform.
You see, Twitch has a feature that allows people to donate to their favorite content creators. People can subscribe on plans ranging between $5 and $25. Then there’s advertising, affiliate marketing and selling merchandise. If things work out, you could turn Twitch streaming into a full-time career.