How To Start An Online Casino In 6 Steps (2022 Update) | Softgamings|How To Start An Online Casino In 6 Steps (November 2022 Update)
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How to Start an Online Casino in 6 Steps (November 2022 update)
Gaming — an industry where billions are made and trillions are crawling its way up. Online gaming marketplace provides endless possibilities for growth and being part of this growth is equally exciting and rewarding. However, the growth itself is far from being a simple and uniform process. In life every journey starts with one small step, followed by another, likewise in gaming business. Approaches do not differ much, but how can one enter without little to no knowledge how and where to start?
Online Casino Business
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. However, you can come on board into the market either as an iGaming casino operator or as an online casino affiliate.
If you wish you to kick-start your online casino business as an iGaming casino operator, the costs of starting the business are much higher, and the laws and licensing are vast as well, but the casino business eventually yields great profits as soon as it gets accepted by casino customers in the gaming market. Also, you can plan to start this online business as an online casino affiliate, and this can be quite easy and profitable if you have the essential experience and skills in internet marketing.
As you can see, the business is very profitable and lucrative. But for you to start an online casino business that is successful and outstanding in the shortest time frame, you have to build your business around customers’ pleasure and satisfaction. With this in mind, you have to invest a lot of dedication and an enormous amount of work into your enterprise for it to achieve the expected success.
Some of the investments include an utter dedication to the latest cutting-edge technologies, your online casino must feature exciting and engaging game content with attractive promotion and bonus system, and it must be compatible with all platforms. Therefore, to enjoy the maximum profits and high return on investments available on this type of business, you must also be ready to pay the required sacrifices.
Starting an online casino business could be the one single step you might really have to take for you to grow your existing casinos or to start generating money from the iGaming industry.
Below are the stepwise instructions as highlighted by Softgamings on how you can start your online casino business.
Key steps to start your own online casino:
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1. Choose reliable software providers
Acquiring a high-quality gambling software is by far the most crucial step in opening an online casino, as it will both set and determine its performance expectations, so securing a deal with the trusted software provider is an absolute must. It’s in your own best interests to evaluate everything, starting from pricing and terms of guarantees to gaming reviews and security features.Pay particular attention to gaming content, individual cooperation conditions, certifications and the technical support, which has to come as a part of the whole package.Unfortunately, it is oftentimes easy to lose sight of business objectives, especially during the pre-opening stage when you are still questioning what is relevant about your online casino business and what is not. SoftGamings will gladly help every step of the way by offering a full-service provider package, including licensing, 10,000+ games and even binary options.
2. Selecting the gambling content for your online casino website
As a rule, players judge your business based on your games. To attract as many of them as possible, it is important to put emphasis on the diversity of the gaming content.The website should support effortless integration and contain the most exciting and popular slots, poker, roulette, blackjack, bingo, baccarat. Having a live casino with real dealers and live video streaming features is fundamental for your business. In that way, you create a real casino presence for online gamblers to enjoy.Give a try, add virtual sport and the ever-popular sportsbook to tap into sport’s popularity among avid betters. SoftGamings can offer any game beyond this list, guaranteed to be the great source of entertainment.
3. Get a gaming licence
Legal framework differs from country to country, therefore, the licensing process can be burdensome as such. The regulated market involves a handful of countries where there are predefined gambling requirements.Countries can be divided into the following categories:
- Countries governing their markets
- Countries governing their markets and having a monopoly
- Countries where gambling is prohibited
- Countries that do not regulate their market
The most popular gambling jurisdictions are United Kingdom, Malta, Alderney, Isle of Man, Curacao, and Gibraltar. The determinant factors while selecting the jurisdiction are its reputation, licence duration and the price of the licence. SoftGamings is ready to assist you with filling the licensing documentation for the Turnkey Casino. This can last longer than a month, but if you want to start operating your casino as soon as possible, we recommend you to use our licence through the White Label Casino system.
4. Secure verified methods of payment
Online casino is by all means an international pursuit, no wonder it should comprise international commercial transactions: both sending and receiving international payments.Clearly, you have to double check if your casino supports integration with major e-payment systems, otherwise players won’t be able to deposit funds or withdraw their winnings. Ignoring traditional payment methods which employ credit cards and vouchers is a disastrous business practice that can put your reputation at risk.To secure verified payment methods for your online casino, you should sign multiple agreements with payment system providers committed to transaction security. You can stay flexible with SoftGamings payment processing platform that encompasses a full range of high-calibre services for your online casino, including multicurrency support, antifraud, advanced risk management and the integration with 50+ most popular payment systems.
5. Website creation
Looks do count! A well-designed website is what counts the most when attracting and retaining customers, as it indicates better visual information of your landing pages and raises brand value significantly. The design must be of a superior quality, attractive and differentiated among other platforms of a similar kind.Do not overuse various graphical elements that will not only push the visitor away but will also overload the work of the system. It is also important to take care of the front-end integration with your database, add or improve existing navigation usability, as its layout is critical to your website performance. Make sure that the transfer from the website to the platform and provider’s game page stays invisible to users.If you would like to create a unique website for your casino, but still not sure if you can deal with it on your own, SoftGamings is here to help you out. We can offer full-scale redesign solutions, ready-made templates or even custom ones to meet your needs.
6. Concentrate on marketing and promotion activities
Marketing is a final step. When you are completely ready to open your own online casino, it will be necessary to develop an effective marketing strategy and set up an effective affiliate system that surely enables website engagement and increases traffic. SoftGamings supports integration with the most popular affiliate management programmes and campaign tools like NetRefer, IncomeAccess, EGASS and Unisender.In order to win over a new audience and keep loyal visitors satisfied at all time, introduce loyalty programmes, set up bonus systems and retention campaigns to motivate your players’ return. Explore competitors, identify their mistakes and try to avoid them in the activity of your own platform.All in all, starting a gambling business seems tricky, simply because it is so. However, it is possible to skip the “tricky” part and create an efficient casino site in the shortest possible time if you decide to joint efforts and choose to partner with SoftGamings.
How Much Does It Cost To Open Casino
How much you will pay for online casino development is a question to which there is no clear and unambiguous answer, because every minor detail counts here. If you want to have a casino designed from the ground up, your definitive estimate will be higher than if you are fine with a templated design solution. A game package of five providers will cost you higher than this of one provider. Examples abound. Anyway, get in touch with our expert guys to get a quote for your project cost, and they will provide you with an accurate estimate based on your online casino project preferences.Broadly speaking, you will have to incur expenses on the pre-launch and post-launch stages of casino development. The former encompasses software setup expenses (around 30-40% of overall costs), marketing activities (30-40%), licensing procedures (10-20%) and some other areas of expenditure, including remunerations. The first phase of development efforts is normally more money-gobbling than the second, maintenance part of the project. As soon as your online casino is finalized and is in successful operation, you still have expenses, but they would probably be lower, with the most money-consuming item being marketing and promotion, which accounts for nearly half of the total expenses. Other operational expenditures include salaries to personnel (bookkeepers, various experts, managers, etc.), license charges, monthly/yearly royalties to game providers, and a host of other things. Spendings on this stage tend to pay back very quickly and are greatly alleviated by increasing incomes that your casino visitors generate (provided you have done everything right).
Pre-Launch expenses
After-Launch expenses
2022 Update
Before you launch your online casino business, you need to be aware of many things, including the fierce competition of the iGaming market. One of the most effective ways to deal with that competition and potentially stay ahead of it is the implementation of new trends and technologies as quickly as possible.
First come first served is the basis of success in the online casino world. In 2022, we can expect an exponential growth of online casinos that have incorporated VR and AR technology. Namely, with the rise of Metaverse, a virtual reality that is set to blur the lines between the digital and the real world, the online casino experience will also be changed forever.
3D avatars, the imitation of real human gestures, the interaction between users, and all other advanced tech aspects of Metaverse will surely find their foothold in online casinos. Players will get the most immersive gameplay experience imaginable. Those VR/AR headsets will help them feel like they are actually inside that world and roaming around the casino floor talking to people, placing live bets, and buying things.
The sooner your casino adapts to host this kind of technology, the more likely you are to attract players and build a fanbase.
