How to start your own online casino business in 2019
Online casinos are one of the hottest, most profitable businesses that anyone can start today. Industry experts estimate that the online casino gaming industry recently took in more than $ 1.72 trillion globally and is projected to expand to some $2.2 trillion by 2021.
Before you start seeing dollar signs over the potential riches you could make as the owner of an online casino, there are several steps that must be followed before you open your virtual doors.
Do your research
You will need to research what kinds of games you will offer to your guests. For example, are they there to try play slots, bingo or is poker or roulette more popular among your casino site’s visitors? The games you choose will depend on local tastes, gaming laws, and what you find fun.
Follow the laws
Starting with the legalities is a good place to start. That begins with getting gaming licenses for all required levels of law. This can require a significant upfront investment and the creation of a business plan to show to regulators how you will comply with gaming laws and tax laws. You may also need to buy insurance and a bond depending on the laws. Hiring a lawyer to help you through this process can make it much easier to stay compliant.
Creating or buying the programming
There are significant price differences between having an online casino website that’s built from the ground up and purchasing a customizable package. Sometimes the difference can be hundreds of thousands of dollars. You might have to reveal the details of what you choose to regulators before you can get your license.
The quickest way is to choose an existing software provider. Choose one that can provide references and has an established client base. Perform due diligence by looking at their history, credentials, industry seals of approval. Look at the different packages offered to see what games, features, payment and data privacy and site security options. You will also need to know if the software you choose to is customizable to include your casino’s branded graphics and logos. However, it can be quite expensive to purchase an existing package and you may have to pay licensing fees.
One way around this is to write the code yourself, but you will have to go through certifications to prove to regulators that your software is fair. It will also require you to hire programmers and make arrangements with payment system providers to allow your software access to their payment methods.
Select & register your casino domain name
Once you’ve got these taken care of, the next step is to decide on the domain name of your casino website. This is the address people will type in to get to your website. If possible, select a name that not only tells your casino’s potential visitors your name but make it easy for them to remember so that they can come back again and again.
To purchase a domain, you’ll need to go to a domain registrar and buy it. It’s a yearly registration fee, though you can pay far in advance. Be sure to keep it up to date or you could lose the name!
Next, you’ll need a place to host your site’s code. The requirements for this may be spelled out by gaming regulations. You may be able to find an existing hosting provider that is certified for gaming sites, but it may be better to host the site on your own servers for security and liability reasons.
Build the site
Now you can start building your site! How you design it is up to you, but first you’ll need to set up your gaming package. You’ll also need to consider your options for branding, including your logo and colors.
Your players will need some way to send and receive money from you. If you have purchased a package, there may be a payment system integrated into it. You may also have to accept certain forms of payment to comply with gaming laws. In general, it’s better to accept more forms of payment than fewer.
Once it looks good, test everything thoroughly! If there is an error in the game, in the payment, or any other part of your site then it could scare off your customers. There are a lot of scam casinos out there. Getting your certifications in order and displaying them on your site will help, but if there’s a flaw in your site those may not matter to your customers.
Now it’s time to open your virtual casino doors and start promoting it online. One way to get people to come is by giving both first time and regular visitors incentives to play. Offer affiliate programs as well as free games, cash jackpots, and bonuses. Be sure to pay these out promptly so that your online casino visitors will come back again and again!