Start Your Own Casino Online
Online casinos have shown themselves to be extremely lucrative over the years and here we look at what it takes to start up your very own casino business.
Website design is the most important step while creating your online casino business. When you have a great looking website, you would be able to attract and retain more and more customers. You must focus on better visual representation of all the pages on your website – especially, the landing. Therefore, market research is crucial in starting your online casino business. It is necessary to thoroughly analyze this market to have an idea of what you are dealing with. It is essential to use all methods to.
How Casinos Turnover So Much Money
Naturally, gambling brings in money. Players often don’t mind losing so long as they are having fun and this is especially the case with casinos.
Casino businesses, both land-based and online, bring in more money than the film and music industries combined and the figures involved, while already mind-boggling, can continue to grow given that in the USA more and more states are legalising online gambling.
So, what do you need to do to start your own online casino? Here we look at some of the basics:
Write a Business Plan
Essentially, starting a casino is no different in the early stages to any other start-up in that you will need to have a comprehensive business plan written.
Within this you will need to check on the legality of casinos in the territory you wish to operate in, while also making yourself fully aware of the rules and regulations set forth by the local authorities. In the case of the UK, this would mean registering with the Gambling Commission.
Get Funding & Licences
With your business plan written, you can access funding to start up. Many new businesses open up various funding rounds to keep the money coming in as they hit each phase; website development, research etc. Check out chrunchbase.com to see how much money has been given by investors to similar businesses.
Even before any platform becomes live it will need to be fully licenced, so get ahead of the game and petition for a licence from the authorities during the development phase.
Integrate the Right Software
Your online casino table games and slots will be powered by specialist software developers, so make sure you pick the best out there such as NetEnt, Microgaming or PlayTech and factor this in when writing the business plan and looking for funding.
Using the best developers will mean your games are reliable and most of all fun – if they aren’t then players will simply ditch and move to another casino.
Hire the Right People
The right people, not necessarily the most expensive people. Sitting out there right now are passionate, fully capable developers, marketers and accountants just itching to be involved in a business like this.
Check freelance platforms for people with great feedback who would perhaps prefer to work permanently for a new casino start-up.
These people should be interesting in the online gaming or gambling world too, as that passion cannot be replicated. Your people should know what makes casino players tick but you should also plan to implement great training plans to keep them motivated and knowledgeable.
Get the Word Out There
This is a potentially very lucrative business for you if you have the guts to start it up, but it will be lost in the sea of online casinos, bookmakers and games if you aren’t smart in publicising your venture.
Want to know some key steps to starting your own Online Casino?
The new decade is almost here and as much as we just wanna celebrate and eat and drink and eat, there’s always this haunting feeling of what we’ve done this past decade, how far we’ve come, and what we need to do in this decade to come.
Whether you think it’s a decade well-spent or wasted, the fact is that we’re all saying goodbye to it in a few, and welcoming a new and fresh one. All opportunities are ripe and waiting for your hands to grab them.
One of them is making your iGaming site the best site there is to offer!
How to do it and get the ball of prosperity rolling throughout the new decade?
Read on to find out.
Start Your Own Online Casino
- Find and choose your reliable iGaming software provider/s.
In this age of constantly evolving visuals, you may just make or break it depending on the quality of your online casino software.
Make sure to secure your deal with a trusted, reputable software provider.
A good tip on how to choose is to find out their most popular offerings. Their most popular offerings have a high chance of having top-notch quality and enjoyed by many players. Otherwise your prospective competitors wouldn’t choose them.
For Asia Live Tech, for example, our Live Dealer Online Casino products is the most-loved product. So, if you’re looking for a Live Dealer Online Casino, ALT may just be one of your best bets.
Your chosen software provider should make your online casino support effortless integration.
- Choose the contents of your online casino portfolio
Okay. To be honest, you may put this first before choosing a provider, but you may also make your deal with a provider first because they can talk and make the deal with other providers for you if you want to do some third-party integrations.
In the simplest sense, third-party integrations are when you use products from other software providers who are different from your chosen software provider.
It is highly advised that you must not limit your games to what your chosen provider has to offer because if you have fewer games, then most likely you’ll just have fewer players. That’s not fun, and you may just end up having your first business fail of the decade.
We wouldn’t want that to happen to you so that’s why we’re advising you now to add as many gaming options as possible to your online casino in order to market your online casino better and have as many happy players as possible.
- Get a gaming license and abide by the country’s regulations
Start Your Own Online Casino Free
Have you decided on where you’ll be operating your online casino?
If yes, then good! Proceed to the next step of knowing all the nooks and crannies of the location’s gambling laws, and how your license could give you the flexibility that you need to find out how these regulations will impact your online casino operations.
Depending on where you’re gonna get your license, your online casino might restrict access to players from regions outside of what your license has provided authority for you to market.
You must be especially attentive to every detail of this step in order for your online casino to certainly maintain longevity—we’re all in this long-term, right?
- Secure verified methods of payment
Your players need to put money in to bet and then cash out their sweet winnings….do you need to make these transactions as smooth as possible?
Of freakin’ course you should.
Even if you only have one country to target in your online casino (although this is not totally advisable), your online casino should make global payments and transactions available.
You must confirm with your software provider how smooth these transactions will be and how diversified are the currencies being used.
Just a friendly reminder that your payment gateways shouldn’t be limited to supporting fiat money, but also cryptocurrency. As the First Cryptocurrencies iGaming Software Provider in Asia, we from ALT highly recommend it.
- Set-up your online casino website
Looks are not everything, but they count so much.
Are your online dealers attractive enough?
Any lags on the videos?
Are your texts readable enough?
Are your images in high res?
Flash or HTML5? (Read our take on this question here).
Those are just some of the questions that you need to answer in order to make it possible to materialize your very own online casino.
Make your website well-designed. You need to attract your players and retain them because they like how your online casino makes them feel.
Do be careful about using graphical elements that might overload the work of the system—use these heavy stuff too much and your online casino might just lag on someone’s phone.
Talk closely with your iGaming software provider so that both of you can arrive at the desired, attractive, sexy website design.
- Market it!
Start Your Own Casino Online Casino
Develop an effective, engaging, marketing strategy and set up an attractive affiliate system that surely enables website engagement and increases traffic.
Talk to your iGaming software provider about their affiliate management programs in order to get more informed and decide on how to set up your affiliate system effectively.
Set up loyalty programs and bonus systems. Explore your competitors, identify their mistakes, and avoid them as much as possible. Make your campaigns better than your competitors’.
This whole 6-step process is a little tricky especially if you’re new to the iGaming industry. But the thing is, everyone here has started somewhere.
In order for you to make it in the iGaming industry, you need the team who will guide you in order to make this whole process smooth, effective, and enable you to prosper.
Talk to us here in ALT and let’s start your new decade with a bang!
