Online gambling has always been one of the most lucrative and desirable areas to explore for business owners despite 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.

• Cost Of Starting An Online Casino
• Starting An Online Gambling Site
• How To Start An Online Casino In Australia

According to industry insiders, starting a real money online casino can be quite a headache, with plenty of factors that one needs to take into consideration. For example, there are gaming licenses that need to be applied for, and online casino software providers that need to be partnered with. Starting an Online Casino Business is not so much a difficult task as most people think, especially if you are in a country where the legislation is easy for such industry. No doubt starting an online casino would require that you meet certain standards. Starting a casino and game center in an area that has loads of gamers and gamblers but fewer casinos and game centers can be very lucrative. Casinos and game centers is a universal concept that is not restricted to Las Vegas alone and people who love playing games and gambling will always look for ways to play the games and casino and make cool cash.

Online casino business is a profitable business that is desirable to explore by interested business-minded individuals regardless of their previous experience. The enterprise has turned out to be one of the leading internet businesses in the world today that offers maximum profit over a relatively short period of time.

Step 1. Preparation

a) Legal issues

Online gambling is a 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 their 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” 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 which allows for effective management of casino business and includes the following components:

Cost Of Starting An Online Casino

• 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

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 competitors 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 which 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 adapting the best practices of promotion, advertising, and brand development.

If a company starting an online casino is operating 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.

At the pre-launch stage the biggest budget share shall be devoted to software set-up in order to provide future users with 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 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 web site 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. 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 the 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 focus on games based on HTML 5 technology. This technology allows users to enjoy rich graphics games and enhance the overall experience with playing casino games on mobile devices. At SoftSwiss, among our own high-quality HTML5 games we offer game content from the 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.

Starting An Online Gambling Site

• Online casino promotion after launch – Use SEO, online advertising, banner networks. Everything will work on 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 owner 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 experts, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the crypto currency, research on 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.

Choosing to go the entrepreneurial route is a smart venture. You get to be your own boss, set your own rules, and work at your preferred pace.

There are thousands of opportunities in the global market that you can take advantage of. And in the current century, with everything going the digital way, starting an online casino is an effective business model. You can begin small as a side hustle and grow into an established venture.

Since you have already found your niche, how do you get your product and services to the masses? Like any other Internet-based start-up businesses, there are certain challenges you may encounter along the way. But if you have a passion for gaming and would love to monetize your hobby, beginning an online casino business may be a fruitful endeavor if done right. Here are a few tips to get you started. But first:

5 Tips To Start Your Online Casino Business

1. Learn the industry

You must know the fundamentals of the online gambling industry if you choose to start a casino. What are the requirements? Is there an official governing body? And what is the market like? These questions will help you when coming up with a plan to operate your gaming site. Go out of your way and learn the history, types, basics of casino games you will have on your online casino.

1. Know your competition

Take a sneak peek at what your competition is doing. Learn a thing or two from doing this. Whatever they are doing, plan to do even better. The online industry is a highly-competitive arena, and you need to stand apart. Learn from how they run their gaming sites to gain a working knowledge of the online casino. To appeal to online gamers and keep with the rivalry, offer incentives, and freebies.

How To Start An Online Casino In Australia

1. Pick the best online casino games.

Here, versatility is key. You want your online casino to appeal to varying levels of players from all walks of life. Interested players will only stay on your gaming site if they are attracted by the games you offer. Which games are popular in the market? Check the market and plan to have all-time favorites like slots, poker, baccarat, and blackjack on your website.

And what kind of promotions and bonuses should you give on your site? For instance, offering free spin casino bonuses on your online casino’s most profitable slot games will lure more players and give them a reason to stay on your site.

1. What are the legal requirements?

Every country in the world has some regulations when it comes to gambling and betting. Therefore, research the laws in the place you plan to launch the website. If there are licenses and permits required, ensure you get them all to be a credible online casino business. You have to be certified or registered in the country you operate from, although you will be reaching people worldwide. Inquire about the taxation system and how much you will be expected to pay. Always adhere to the rules to protect your company and your members’ money.

1. Market Yourself

Just like any other business, you cannot expect players to learn about your online casino magically. You have to spread the word locally, regionally, and globally. As you are an Internet-based casino, it would be very effective to develop an online marketing campaign. Social media is a great and affordable place to begin. Regular updates on platforms like Instagram, Facebook, and Twitter will attract a substantial following. Collaborating with social media influencers will get you a long way ahead of the competition.

Also, advertise and promote your online casino in a separate section on your website. A blog is an effective avenue to communicate with the audience. You can put up notifications of offers or upcoming contests that they can be part of or free giveaways on your website. Once you build a following, referrals and word of mouth will greatly lessen your need for elaborate marketing strategies. And if your budget allows it, invest in SEO.

Last Word

In an industry where billions are made in returns, the online casino sector has seen a boom over the past few years. Therefore, if you choose to get into the lucrative industry, the five tips aptly mentioned above will guide you through the process. Remember to formulate a business plan with an all-inclusive budget to avoid pitfalls along the way. All in all, with a little determination, you can launch a successful online casino that Internet users run to for their gaming and betting needs.