Online gambling is flourishing and ever-growing: currently evaluated at $75 billion, the global market of online gambling is expected to triple by 2030 and continue its growth into the decade to follow. Hundreds of online casinos pop up on the market annually, bringing lots of new opportunities, such as live casino games, mixed realities, provably fair gambling, crypto payments, and more.
Both renowned sites – Slottica Casino, Vulkan Vegas, Energy Casino, etc. – and aspiring ones are fighting for the place under the sun. Speaking of which, for a true gambling aficionado with a tad of entrepreneurial spirit, it’s never too late to start an online casino business and beat the competition with an innovative approach and top-notch services.
What exactly should you do? Seems like Anna Rosak, a gambling expert from KasynoHEX, knows some crucial factors to creating a successful online casino business. Without further ado, let’s jump on it.
Preliminary Research
You have to research the market through and through before taking action. Here are the basic things to check:
- Status of online gambling in the country of registration.
- Licenses you are going to get and countries you are going to cater to.
- Software providers you are going to incorporate.
- Bonuses, VIP offers, tournaments, affiliate programs, and other marketing tricks to attract customers.
- Payment providers.
The research may take weeks or even months, but you can’t move further without it.
Gambling License
If you’re willing to operate in a regulated market, which is the only legal way to act, then you will have to find out the types of countries you are going to cater to:
- Countries allowing third-party casinos.
- Countries with a full/partial monopoly on online gambling.
- Countries prohibiting some forms of online gambling.
- Countries with an unregulated online gambling market.
Based on this, you can understand what licenses you need. There are over a dozen popular license issues – the UK Gambling Commission, the Malta Gaming Authority, the Kahnawake Gambling Commission, the Government of Curacao, etc. – each one with a unique set of licensing rules, license duration, and price.
At this point, you should also think of whether you want to get your software verified by a testing agency – for example, eCOGRA – and thus get some extra trust from customers. Or you can jump on the bandwagon of blockchain-based casinos. In this case, you won’t need any external testing since all the gambling history will be stored in a blockchain and everyone will be able to verify the fairness of the outcomes of his games.
Games and Software Providers
Some casinos focus on a single software provider, but that’s not the way to go for a new site. The more games and software providers you can offer, the better. In addition to slots, which is an absolute must for any casino, it’s highly recommended to include all popular table games, card games, wheel games, and maybe some less popular games for those hunting for non-conventional experiences.
Not all brands are equal, though: Microgaming, Evolution Gaming, NetEnt, and Playtech are arguably the four leading brands that most players would like to see at an online casino. The rest brands are kind of less important than those top-4, so keep this in mind.
Perks for Players: Bonuses, VIP Offers, Tournaments, and Elaborated T&C Webpage
Without a shadow of a doubt, you won’t be able to pull it off without providing welcome bonuses and deposit bonuses. Online gamblers are pampered, and they want at least a decent registration bonus to continue, especially from a new and unexplored casino.
The two bonuses that will help you stand out and get more attention are:
- No-deposit bonus – a small reward granted for the very fact of signing up for your casino.
- No-wagering bonus – a reward that can be cashed out without completing the wagering.
On that note, any bonus with a low wagering requirement would do. Low wagering is key to attracting players, and it might even be better to not offer the bonus at all than apply exorbitant wagering to it. 35x might be the reasonable maximum, but 20x or 10x would look much spicier.
Secure Payments
To lure players into depositing real money into their accounts, you have to open as many payment gateways as possible, including traditional wire transfers, credit & debit cards (VISA, MasterCard, and Amex), electronic and mobile wallets (Neteller, Skrill, Interac, PayPal, Trustly, etc.), prepaid cards (Paysafecard, Neosurf, Astropay, etc.), and cryptocurrencies. Both deposit and withdrawals should be free of charge, instant, and with reasonable minimum and maximum cashout limits, preferably $10 or $20.
The Bottom Line
Creating an online casino is a challenge itself, and creating an in-demand one is even harder. However, being determined, patient, and entrepreneurial, you can overcome all the obstacles to attain your goal. Good luck in your endeavors!
