Even though online casinos started back in 1997, they have taken the gambling industry by storm today. Players all over the world go gaga for the remote comfort and anonymity they get with online platforms. If you are planning to invest in this industry, you must already know that it is a highly profitable venture. The market may be highly competitive, but it is set to grow two-folds in the coming years. However, the whole process may seem scary and complicated at first. Research is the most critical component when you want to start online casino. From choosing a service provider to marketing your casino, there is lots of investigation for you to do.We have tried to execute most of this research work for you. With this guide, you can learn all the things you need to do to start online casino.
Invaluable Insights for Starters
Did you know that the average cost to get a software provider alone is around 50 grand? To add to that, you have a website development and marketing costs too. (To your relief, to start online casino is way cheaper than a traditional casino which comes with hefty overhead costs.) Along with this consideration, you have extreme industry competition to look out for. To handle this competition, you need an excellent casino platform. It must be hassle-free, bug-free and provably fair – all at once. More than that, the games it features should be of paramount quality and high on entertainment. It can take from 3 to 6 months in setting up a fully-functional online casino. We know we make it sound scarier right now. It’s true that to start online casino is a herculean task. Keep reading so you can juggle all these responsibilities with precision.
A 5-Step Guide To Start Online Casino
1. Engage with an online casino software provider
The casino software is an essential component of your online casino. It is the powerhouse where all the operations will take place. Whether its processing payments or managing accounts, the software is responsible for executing everything with precision.
There are two kinds of online casino software providers – those who also offer games that they have developed and those who accumulate games from other platforms on their software. The former is cheaper, but the latter can promise you a variety of games that will convert. You need to decide the best alternative for yourself. If you are willing to plunge into the casino scene deeply and have ample resources and funding, you might want to start from scratch altogether. Therefore, personalized Development Packages for this can cost you a whopping $150,000 to $300,000.
Before you choose an online casino software, make a roster of all your choices. Ask the prospective dealers for software templates and features. They should also enable all kinds of payment methods – from credit cards to online wallets and virtual currency. After all, bitcoin casino is the new cool. The software graphics and customer support are essential to consider – your audience’s point-of-view rests here. The software should be provably fair and have licenses. Choosing a casino software is the first and the most crucial money-related verdict. Enquire about them online and read ample user-reviews to decide upon one.
2. Come up with a gaming strategy
We want to say this with utmost emphasis – gaming experience is the prime determinant of your profits. The better the internet casino games, more customers will swarm towards you. When you start online casino, a specific gaming strategy should be formulated with much planning beforehand. Mediocrity isn’t an option for success seekers. You must answer questions like –
- What games will the platform feature? From online slots to poker, you should have a variety to offer all your audiences.
- Will you feature in-play sports betting? (Extra licensing required)
- Will you include the live chat, season tournament features? These can make the platform much more interactive and exciting.
Smooth gaming integration is a must. The games must have great graphics, narratives, and sound quality. Ensure that you include games from popular platforms in your casino. Delve into extensive research and read numerous reviews to know which games are loved by the majority of players. What you can also do is do a competition check again. See which online casino games they lack and include them. For example, some slot casinos also offer sweepstakes games to give with the slots. During your marketing phase, you can cite this as your strength.
Related: 5 Online Casino Games Providers in 2020
3. Obtain the online gambling license
Unless you start online casino based on credits, you need a gambling license to function. Legal constraints are many but they shouldn’t stop you from carrying out operations. Online gambling is legal under US Federal Law. Before applying for a license, you must know the legal requirements. Some B2B suppliers of casino software may offer you a sub-license. You have to decide the country from which you will obtain your license. This country isn’t necessarily your residential one. Licenses from jurisdictions like the USA and Malta cost the most at around $170,000 per annum. The cheapest grants are available in Costa Rica and Curacao at an average of $50,000 for each year. You should also consider the fee required to apply for the license. Gambling Licencing is another essential costly investment you must take into account.
Related: Online Gambling Laws in Different Countries
4. Create your website
Your team will have to hire the services of a website development company to enable online support for your casino. The website is what the customers will interact with to play casino games. The software will work in integration with the site and must be seamless and smooth. From the audience’s point-of-view, it should be attractive but also fast. The website should not be too full of graphic elements that confuse them or slows down the loading time. For these reasons, the website design has to be conceived carefully. The front-end craftsmanship is essential. The website should be functional and aesthetically pleasing. A mobile-friendly website will further boost the customer’s convenience.
5. Put yourself in the market
Marketing is your weapon to compete with the numerous competitions online. You must offer something unique to your customers. Other than this, you should realize that the industry is a challenging one but comes with high returns. You have to gain the trust of the masses and that’s only possible if you follow the rest of the steps keeping legal considerations in mind. Collaborate with trusted and renowned names. All this can help you boast of your reliability later.
Loyalty programs and generous bonuses are a must. Therefore, you must carry out VIP loyalty programs and distribute Frequent Player Points (FPPs) in order to retain your customers. In conclusion, a sound marketing strategy will go a long way. In any online marketing strategy, SEO and SEM are integral components.
You’re all set!
This definitive guide gives you all the resources and knowledge to start online casino. We at Riversweeps, also offer reliable sweepstakes and internet cafe software. Our affordable solutions let you access online casinos from any device or platform. We not only have the latest games in store for you but also ensure the utmost protection on all our platforms. We are 100% secure. Collaborate with us today to avail reliable casino-related services – all at one stop.