Start Online Casino Business
To start an online casino you'll need reliable software that meets all international quality standards and your personal requirements, a hosting solution with needed configuration, and an online gambling license issued by one of the jurisdictions to legally operate your business. Since online casinos have become popular, finding ways on how to start one can be crucial. An online casino is a business that can provide a great return. But remember, there are so many people developing online gambling platforms such as online casino (คาสิโนออนไลน์), and you might not be able to face the competition involved. How to Start an Online Casino Business 1. Get to know the online casino industry. For a start, learn more about the online casino market before you start a business in the niche. The research phase of every new venture is important as it allows you to see the big picture, set the right goals, know who your audience is, and make a plan. Obtain a gaming license. Since the legal system varies from nation to nation, the licensing process.
Online gambling has always been one of the most lucrative and desirable areas to explore for business owners regardless of whether they have experience in the field. In order to open a successful online casino that will benefit an owner and bring pleasure to customers, one needs to follow the proper sequence of steps paying serious attention to all details. As an online casino software provider, SoftSwiss is glad to share its experience to help future online casino owners avoid common mistakes that may impede business launch, inflate budget or even close the business down.
Step 1. Preparation
a) Legal issues
Online gambling is subject to licensing, thus an essential thing is to think about choosing the jurisdiction and obtaining a license. There are two main venues where it can be done: offshore countries and the European Union countries. Each has its pros and cons – budget, time, reputation. Usually, it takes from a couple of months to a year to obtain a gaming license, for example, 6 months in Malta.
The next step after choosing the jurisdiction is to register a legal entity – a gaming company, opening a bank account, and making agreements with payment system providers which will make the legal and financial infrastructure complete.
As an alternative to this method, there is a white label solution scheme which means leasing of software together with the gaming license and financial infrastructure from a software provider and operating your casino under your own brand but with the ready-to-use infrastructure. Such a scheme protects from excessive legal and banking bothers but involves additional costs.
b) Software
As soon as all legal issues are investigated separately or simultaneously, it is time to choose a professional online casino software provider. While searching the market it is wise to evaluate the price and quality balance. Besides the attractive design and a set of popular games, a quality product shall also include a reliable gaming platform that allows for effective management of casino business and includes the following components:
• CMS
• Player management system
• Bonus and promotions management system
• Game management system
• Payment system management interface
• Cashier system
• Reporting engine
• Support of different roles for administrators
• Affiliate management system
• Anti-fraud system
• Retention email system
The regular software and game updates, hosting, and technical support shall also be part of the provider’s package. Professional suppliers always take the responsibility for the full technical support of the after-launch product operation.
The software package that includes all of the above components might be on the upper edge in terms of costs, but the financial investments are worth it because as a result, you get a reliable partner ready to support you during the whole project life cycle. Be aware of the fact that buying a cheaper solution might result in double spending in the future.
c) Marketing planning
An effective marketing strategy is a key point to online casino success. At this stage, it is strategically correct to make a rigid competitor’s research. First of all, it will provide you with a full picture of the market: who the leaders are, what strategies they use, what return on investment they get, etc. Thus, knowing the game rules allows creating a unique offer that customers won’t be able to decline. Using the method of benchmarking plays perfect for the good of online casino success, and what is more important, it is free. Plan your marketing strategy by adopting the best practices of promotion, advertising, and brand development.
If a company starting an online casino is operating a land-based gaming business, it is crucial to bring the existing clients to play in Internet-casino by offering attractive bonuses and thus developing loyalty and respect to the website. Any know-how are always welcome but be aware of wrong calculated ideas from the mathematical point of view.
The next move is to contact internet marketing companies or individuals specializing in online gambling: SEO agencies, email marketing companies, media resources providing casino overviews, etc. This will help define the best offers on the market and choose the right partners before the website is ready to launch.
At this stage, it is also time to think about your future bonus policy and affiliate marketing strategy, as well as check if the selected software provides the appropriate technical opportunities.
d) Budgeting
Once the costs for legal issues, software and marketing are defined, it’s time to plan your budget. The best option for startup companies is to set the budget at least for the first year of operation, whereas for experienced companies who are entering the igaming market, the budget shall be defined for as long as possible. Don’t plan your budget after setting up the online casino website, plan it before. If you are a startup-company you have to understand that your costs will be higher. Your goal is to earn trust of players from the beginning. Existing land-based brands already have trust.
Below there is an approximate expenses separation a future casino owner shall have in mind while developing a detailed budget within a business plan.
| Pre-Launch expenses | After-Launch expenses, 1st year |
| Company set up – 3-7% | Company running – 5% |
| License set up – 10-30% | License fees – 1-10% |
| Software set up – 25- 35% | Software support – 10% |
| Staff hiring – 10-20% | Games Providers – 5% |
| Pre-Marketing – 15-20% | Marketing – 50% |
| Other costs – 5-15% | Staff – 20-30% |
At the pre-launch stage, the biggest budget share shall be devoted to software setup in order to provide future users with a quality product. But after the launch, it is vitally important to address half the funds to casino marketing and promotion.
Step 2. Launch
The time frame for an online casino launch depends on both, business owner and software provider. Usually, it takes up to 3 months for the provider to set up the software. It includes website design, platform, and games set up, custom settings, and possible individual features. The business owner may speed up the process of launch by providing regular feedback to all questions that designers and programmers might have. Any issue can be resolved if discussed in time.
Besides, the business owner shall timely address the issues discussed above:
• Obtaining a gaming license;
• Opening a corporate bank account and merchant account;
• Making agreements with payment system providers.
Setting legal and financial infrastructure is the task that only the business owner can accomplish. In SoftSwiss we provide consulting services (best options, contacts, etc.) on such points but we can’t guarantee success as the whole responsibility lies on the business owner. You will have to collect a bunch of documents for lawyers and banks like certified passport copy, utility bill copy, certificate of non-criminal records…
Step 3. Marketing
The secret of the most popular and successful online casino success and popularity is not about the top-notch design or billions of games included. The best online casinos are simply designed and contain 500 games on average at the beginning. The secret is in responsible marketing strategy implemented on all stages of the project. The online casino market is an extremely competitive one: first, it is very hard to break into it, and then it is even harder to take a firm stand. Thus, a company has only one chance to win a fierce race among competitors. Below is a list of points that are vital for any online casino that is planning to be prosperous.
• Positioning – Gather professional marketing team and develop strategic and tactical development phases, announce your goals (business, company, brand), and mission. Determine what niche you would like to step in, how you are different from the competitors, what unique features your casino has, and what steps you are going to make further.
Use only quality games from trusted game providers. You can start your casino with a limited number of game providers, with a focus on games based on HTML 5 technology. This technology allows users to enjoy rich graphics games and enhance the overall experience of playing casino games on mobile devices. At SoftSwiss, among our own high-quality HTML5 games we offer game content from well-known providers, such as Amatic Industries, Microgaming, NetEnt, and we are sure about their quality.
• Prelaunch advertising campaign – Announce your casino, inspire your potential customers to wait for its launch; use all possible methods: online advertising, presentations, publications, etc.
• Online casino promotion after launch – Use SEO, online advertising, banner networks. Everything will work in such a competitive market.
• Client attraction and retention campaign – Establish an efficient support service or 24h call-center which your customers can address at any time. Take care of your clients by making navigation through the website: create “How to” sections or FAQs, write manuals on how to play the games, provide demo versions, make everything clear and understandable.
Develop a bonus system, make auctions and entertain and reward your customers all the time.
Remember! Only business owners can establish the right content on the page. The software provider should give you the possibility to work with the content, but not create the content.
•Implement affiliate networks – Develop contacts with partners which will be an impetus to online casino development.
Additional Step 4. Bitcoin casino
Forward-looking online casino software providers offer Bitcoin as an alternative payment system for their solutions. Online casino owners all over the world appreciated such advantages of Bitcoin casino as significant savings on license application costs and monthly fees, increased customer loyalty, fast payment processing and many more.
As an acknowledged Bitcoin casino expert, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the cryptocurrency, research the peculiarities of Bitcoin gambling, and learn how transactions work by making a couple of bets at an existing casino. Understanding the core of the payment system is essential in business, moreover, it will help to build a strong marketing campaign and further manage the Bitcoin casino. Contact SoftSwiss for professional advice on Bitcoin casino launch.
Managing an online casino is hard work but with all legal and financial issues resolved in a timely manner, quality software chosen, and a strong marketing strategy in place, it can be successful. The demand for online casinos will increase – specialists predict 40% growth of this market segment in the nearest year. Following all the steps described above will help a newly made online casino to develop sustainably and outweigh the competition. Good luck!
Also, learn how to start an online casino with SoftSwiss.
The world is in a constant change where the population is increasing significantly. If you can acquire access to a bigger audience, your business will become more profitable. Online casino games are one of these types of businesses. It is unbelievably profitable if you are good at attracting people with essential marketing techniques. However, starting a casino business from scratch comes with some hardships. There are a bunch of laws, regulations for casinos, and starting it requires effort in an extended period. If you want to find an answer to the “how to start an online casino” question, you should take into account three things, namely, money, time, and perseverance.
The online casino industry became one of the profitable business industries in the world, with its rising consumers and revenues. According to the statistics from Statista for the years 2009-2020, the figures for online casino incomes skyrocketed. During the 12 years, the market revenue rose 3-fold, from 20 to 60 billion in US dollars. You can compare this fast-growing business to a few industries. Therefore, it attracts more entrepreneurs to invest in this market. Demographic changes in population also affected the numbers of online casino players. They transcended ground-based casinos because of its convenience, and easy to reach function.
Finding out how to start an online casino portal, requires to sharpen your customer satisfaction and marketing skills, which will enable you to earn profit within a short period. The ones who would like to pursue his or her will to create an outstanding online casino should put dedication with cutting edge technologies, marketing, and customer tools. If you want to move on to learn how to start an online casino business, keep an eye on the following steps:
Research is the backbone to find out how to start an online casino
Learning and knowing information can make you immune to the odds of life that has been debated by pundits since ancient times. Business is a vital part of life, which demands constant follow-ups, research, etc. Before shelling out money for realizing your ideas, you need to figure out the amount of money that is required to start an online casino business, which also requires to know how to obtain a license, and so on. Moreover, technology is improved every year; therefore, your game portal should also involve innovation.
Researching the market is helpful for newcomers who want to know how to start an online casino. It can navigate them to find target customers, available competitors in the market, their weak spots, possible risks, etc. Sometimes allocating money for a wrong target audience can affect your incentives. Moreover, having detailed information about competitors in the market will allow you to find out how and when they can be a menace to your business. You can also learn useful information by searching the past of the competitors in the market. Also, having an idea about the competition will help you to find unique ways to gain customer loyalty, make discounts, attract new customers, etc.
The Consequences of Not Conducting a Research
Not doing research can take your money, time, and energy. Some people may get lucky without proper research, but the majority of the entrepreneurs fail. You should ask the questions of why customers will most likely play in my online casino, or is there enough room for my new ideas? The market, technology, and products are changing exponentially; therefore, you need to hook up with the ongoing process. Researching will benefit you to understand the continuing operation and foresee future possibilities of the online casino business.
Earning money is an essential part of your business, but you need to think about the needs of the people too. People should need your online casino game because of the new features that your portal offers. If you do not consider these things, starting an online casino will face predicaments. You can research on your own, but if you need some advice from the professionals, you can find consultancy companies to help you to get the required information.
Variety of Online Casinos
If you look at the market, you will find that different online casinos are popular in the world. They offer different games worldwide and make a profit from their business, their reputation, and advanced technology with a spectrum of games attract billions of dollars each year. Such online casinos are Bet365, Unibet, Betfair, etc. which made billions of dollars fortune. Bet365 alone made $1.5 billion in 2015, which is a clear portrayal of the benefits of the online gaming industry.
Lastly, having some idea by researching how much money is needed is a crucial step. Because if you have a low budget, then you may end up in the middle of the road without proceeding to take additional measures and not be able to start an online casino. You will need money to get a license, for marketing, and for buying software packages, which is pretty much expensive. Also, taking into account salary payments that can be huge among of money. Therefore, you will need to do deep research to ascertain how to start an online casino.
Legalization and license process to start an online casino
Getting a license can be a complicated process, depending on where you live. Before investing to create an online casino business, you need to research the location. This process is essential for the people who are in search of how to start an online casino. Some countries have strict rules against the casino industry, which makes it hard to obtain a license. However, others have “casino jurisdiction,” which is the most popular in the world. For instance, countries such as Malta, the United Kingdom, or locations such as the Isle of Man, Gibraltar can be an excellent destination to get a license and to start an online casino.
Countries are different depending on their legal procedures. Some states do not allow gambling, whereas others may create a monopoly in the casino market. Moreover, some countries may have open jurisdiction, which makes it easier to get a license. Countries that I stated above provides this opportunity for the online casino business.
Furthermore, there are several jurisdictions where you can get your online gambling license. Choosing a domain depends on reputation, time, and the fee which is available in some European countries, or offshore jurisdictions. After opening a bank account, choosing a payment system, etc., the legal and financial registration of an online casino business can be completed.
Choosing jurisdiction for a license should comprise these units:
- Requirements for getting a permit
- Costs and fees for it
- Period of the procedure
Getting a grant to start an online casino can take several months or even a year. Therefore, you need to pay attention to time management if you want to open it as soon as possible. You can also get assistance from other companies to fulfill documentation to acquire a license. Moreover, you can evade all these documentation processes by working with software provider where your product works under their monitor. This method is more secure and less time consuming, whereas the price of this choice is much higher.
- Follow four technical steps to figure out how to start an online casino
- Find out a suitable provider
Software development is the main part of the online casino business. Therefore, entrepreneurs who try to find out how to start an online casino should consider it seriously. The casino software providers create a portal that provides domain, security, anti-fraud, player & administrative management systems and so on. The providers also deliver other technical supports, which also include updates. If you cannot decide which one to choose, try to pick the ones who provide for all the above-stated tools. Also, do in-depth research to select a provider that has long-time experience in the market and specialized in online casino games. This kind of state-of-the-art providers can be pricy, but as it is said in a proverb, “cheap meat never makes a good soup.”
Casino Software Providers
Moreover, you should choose a provider for online casino games which allows you versatile options with a spectrum of tools. If you do not want to experience a headache, you can use a “white-label solution,” which will enable you to get a license, software, and payment options. However, the main downside to starting an online casino with this option is that software providers will require some percentage from the games.
Software providers offer these tools:
- Secure transaction system
- International online casino markets
- Up-to-date website development tools
- Cutting edge technologies in the market, such as blockchain technology
- Customer service for your needs
- Game management system
Choosing the right software providers can help you to embark on your online casino business. NetEnt, Playtech, Microgaming, playech.com, Booming Games, Quickspin, etc. can be an option to start an online casino.
Choose a gambling game
Different gambling games are available on the market, such as online slot game, betting games, roulette, blackjack, bingo, etc. You can select these games according to your preference or may research the market for the prognosis of specific game requests. For example, it is predicted that games based on betting tend to increase in the future, attracting many people. Therefore, as I stated above, research should be a central part of your online casino business. Also, games are the main attracting option for the players. When your online casino includes different games on the platform, people will be interested in coming to your website and play games. Keeping diverse options should also be backed with new game searching. You should also provide new game features to the consumers.
Alluring website is a must
A website is a front window that opens for the customer, and when it is appealing, engaging, accessible, not crowded, people will feel convenient to use it. Using different colors, graphics, motions, quick access to the profile, site map, etc. should be used on the online casino design. Boring websites tend to lose more customers than attractive ones; therefore, appearance should be taken into account. Moreover, you should use the latest HTML for your website, which should be provided by software providers.
However, you should consider not to overload your website because it gets to affect your customers negatively. When customers wait for several minutes because of overloading, redundant graphics, it is highly expected that they will leave your casino.
Front end development should create a website attractive yet straightforward, with all needed features yet smooth. Creating such a site requires skilled web developers, and if you cannot find such a team, you can get templates from software developers. Also, your website should have notification tools that will make players stay up to date with ongoing games.
Payment system and how to start an online casino
Payment is also a crucial thing in the online gambling business. Adding a variety of payment options can make it comfortable for the users to add deposits. Traditional and bitcoin payments should work alongside delivering options to customers. You can work with software providers to check the availability of slots payment options. Also, including payment methods to the apps can make it convenient for the users to deposit or withdraw money. Clipping the SMS notification system can also be useful for the customers. Applying different methods can make your business grow; therefore, feel free to conduct research and use crucial tools for the online casino business.
Marketing is an essential part of an online casino business
Let’s imagine that you have done brilliant research and decided to work with the “X” software provider and created an appealing web site. The question pops-up, is it enough to answer the question of how to start an online casino? The finding answer to this puzzle can be achieved if we add the marketing strategy into it. The online casino business is competitive and comprises many rivals that also entail cutting edge technology. In this situation, you need a bright and on-target marketing strategy to stay in the market.
To win the market, you need to hire an eminent marketing specialist that will help you to advertise your online casino business. Announcing release time, using enticing methods can help you grab customer attention. Moreover, using different tools, namely, SEO, advertising techniques can make your website appear on the search results and entice new players.
Start Online Gambling Business In Uk
Also, learning from others’ mistakes is crucial because you may not have time to experience all of them, as Eleanor Roosevelt said. Therefore, research other businesses, collect data where they have made errors and where they achieved their targets. These findings will help you to bypass obstacles and make your business grow.
Digital Marketing Strategies
Creating a credible website for the players may take some time and dedication, but you should also try to keep your incomes intact in this competitive market. It can be provided with different methods, such as winning hearts and minds. For example, when casino managers provide players with rules before the game, they may rely on your portal more than others because it will make them feel secure. Moreover, additional bonuses and loyalty programs with different modes, such as free bits, earning money by signing up, etc., can have a sheer effect on attraction players. Casino promotion codes with welcoming gifts can also be useful for marketing your product. Also, making a website support multilingual package will help to give access to people from all around the world.
How To Start Online Casino Business
Lastly, at this point, you need “always ready customer support team” that will answer all the question bombings. You should also have an online chat and mailing system with a quick response because some people would like to chat rather than have a talk. You should consider every detail to start an online casino.
Stay up to date
Bitcoin currency and its transaction technology are making a future in all spheres of life, including online casino business. There is a multitude of software providers that offer bitcoin casino currency, whereas, the problem can occur when managers have no idea about blockchain technology and other related technologies. Therefore, staying up to date in technology usage should be taken into account to ascertain how to start an online casino. These new technologies also come with perks. For example, using bitcoin currency on online casino games helps managers to reduce license costs and monthly fees. Using modern methods and technologies can earn more customers because people may prefer newly available approaches for their needs. If you check the internet, there are plenty of software providers that offer casino gambling with bitcoin currency
Moreover, try to use new mobile apps and other improved versions of programs for computers to make access more comfortable. Some programs may require downloading additional packages, and this process may also hinder players from downloading your game. Therefore, keeping different options at stake may come with benefits for both sides.
Start Online Casino Business
Conclusion
Lastly, try to deliver innovative online casino that includes a diverse range of games. Adding new features to the games is a frequent process, that is why you need to be in contact with software providers.
Staying on the market can be a costly, time-consuming and difficult process, whereas, if you need to answer – “how to start an online casino” question, you should consider the steps that we provided above. These steps can help you to avoid simple mistakes that most people make while starting their online casino business. Without proper research of the market, you may end up in a desperate situation because the demand for online casino is costly, competitive, and challenging to start. Another problem is staying on the market even if you managed to open your online casino. Therefore, following steps by avoiding simple mistakes can earn you benefits and achieve your target. Moreover, it is estimated that online casino business will worth almost 90 billion dollars in 2022, and who knows, maybe your new business will also become part of this growing business?