This article is for you if you’re thinking of how to start an online casino business.
Thanks to the rapid advances in technological developments over the years, online gambling is bigger than ever.
With increased accessibility and convenience, millions of people are going online to enjoy casino games.
The online gambling market across the world is expected to enter a valuation of US$138.10bn by 2028, based on Statistica’s estimates.
This is why many entrepreneur individuals are going into the business of creating and launching online casinos.
So, one of the fundamental questions on many people’s lips is, “How do you start an online casino?”
In this article, we will delve into how to start an online casino business in the iGaming industry, exploring every step to take.
The iGaming business person needs capital, and A LOT of it
Like any new start-up business, capital is essential to a successful casino. Whether your gambling business is big or small, there are many different aspects you will need to spend money on to set up the casino and keep it operational.
You will need to cover the cost of casino software development and setup, licensing procurement, regulatory compliance, and other expenditure areas.
And as the standard requirement for most regulators, you will need a sizable deposit to cater to player winnings.
Beyond setting up and starting a successful casino, your business plan must also account for ongoing expenses for operational management.
This includes advertising and marketing expenses, employee salaries, licence charges, game providers’ royalties, and other expenditures.
So, one of the first steps to take before launching your online gaming business is securing sufficient funding to cover every financial requirement.
Sadly, it’s difficult to give a specific estimate of how much is needed to launch an electronic gambling business.
The actual amount often varies depending on the particular circumstances and what the casino entails.
If you don’t have the capital you need, you can explore potential funding options like crowdfunding, bank loans, partnerships, gambling investors, etc.
A registered business licence for your online casino business is required
Another critical factor to consider in the necessary steps before starting your own online casino is the legality involved.
Like land-based casinos, online casinos are also subject to regulations and licencing. So, you will also need to obtain a valid gaming licence for your casino business.
Aside from being a legal requirement, there are many benefits to having a gaming licence, including players’ trust, easy cooperation from gaming and payment providers, etc.
Thankfully, many licensing and regulatory bodies across the globe offer gaming licences to casino sites, authorising them to operate in specific jurisdictions.
Each jurisdiction has its set of requirements and rules that casinos have to stick to.
Some standard legal requirements typically include anti-money laundering procedures, responsible gambling measures, security standards, particular age restrictions, etc.
Below are the most renowned gambling jurisdictions:
- Curacao eGaming.
- Gibraltar Gambling Commissioner.
- United Kingdom Gambling Commission (UKGC).
- Malta Gaming Authority (MGA).
- Alderney Gambling Control Commission (AGCC).
Certain yardsticks are important in deciding on casino licensing and regulatory jurisdiction.
This includes reputation, application processing and time, licence duration, licencing cost, etc.
You should also consider whether the licensor collaborates with international platforms, especially if you are interested in the global market.
Ultimately, you must go for what meets your casino needs and target market.
Seek sales discussions with gaming providers for your online gambling enterprise.
A pretty important detail on how to start an online casino is the game collection your customers will have access to.
The gaming options available on your platform are vital to establishing a successful casino. So, you must partner with reputable software providers with a great collection of games and services.
It would be best if you did a detailed assessment of different software providers to select the best fit for your casino.
Consider factors like popularity, game quality, game variety, mobile compatibility, bonus systems, random number generator (RNG) technology, etc.
Thankfully, there are many top casino software providers in the digital gambling industry offering entertainment and rewarding games.
Some of them include Microgaming, NetEnt, Playson, Playtech, Big Time Gaming, Pragmatic Play, Evolution, IGT / International Gaming Technology, Blueprint Gaming Inc, Scientific Games, Novomatic, Yggdrasil, EvveryMatrix, Finnplay Technologies Oy, etc.
It’s also essential to prioritise diversity in gaming content in your casino.
The providers you choose should result in you having every casino game option possible, from slot machines to table games like blackjack, poker, roulette, etc. A live casino section is also an absolute must.
You should also provide a sports betting section for sports betting enthusiasts. This way, you can be a one-stop shop for your customer’s gambling needs.
Have dedicated teams for work processing in online casino corporate
Naturally, you can only handle some of what it takes to set up an online casino, much less the day-to-day operations.
So, you must hire dedicated teams to manage different aspects of your on-line casino corporate business.
Depending on the nature of the gambling brand you want to set up, you may need to hire teams of designers, developers, marketers, customer support, and others.
Customer Service
Customer support service is an essential aspect of an online casino that can make or break a player’s gambling experience.
After all, no matter how user-friendly a site is, players may still have questions or face issues they need help resolving.
So, before starting an online casino business, you need a team of highly trained customer support staff ready to address players’ issues anytime.
Ensure the support service is available across multiple communication mediums like phone, email, live chat, etc. An extensive FAQ section can address customers’ most common inquiries.
Also, your customer support representatives must be multilingual to respond to a wide range of customers.
This is to ensure they are proficient in the same language as your target customer base.
Marketing
It will be essential to assemble a team of pros that will be in charge of marketing your e-gambling enterprise.
Because the online betting industry is very competitive, every brand must find ways to stand out. A well-trained marketing team could distinguish you, and further attract a vast customer base.
We will talk more about marketing later in this article.
Designer
Having a user-compliant and visually pleasing online casino can be vital to attracting players to your brand.
If your e commerce gaming site gives potential new customers a wrong first impression from the get-go, chances are that they will not even consider signing up.
So, before you get started, you will also need a team of designers who can help you work and develop a vision for your gambling platform.
Have the team work to ensure the website visually appeals to players, as that will be the first thing they notice.
The platform should also be easy to navigate, with all the necessary pages and links to them placed in appropriate places.
Also, use features like game categories alongside filters to help players quickly find and locate their preferred casino games. A search feature is also a must-have.
Another excellent tip for the design team of your internet wagering firm is to make the platform available in multiple languages, depending on the region you want to operate in and your targeted audience.
Software Developer
A creative team of software developers who will work alongside your designers to make your vision a reality is also essential.
This team will be in charge of building your website and app to the specific specifications that you want.
They will also be in charge of the platform’s maintenance, ensuring everything works as it should, from its features to casino games.
Ultimately, the software development team ensures customers enjoy a seamless gaming experience on your platform.
Finance / HR / Administration Work
Finance is a big part of any online casino, so you need a team of highly trained experts who will take charge of the financial aspect of your gambling brand’s operations management.
Like any other business, online casinos also require much work and adequate monitoring.
So, when working on how to start an online casino business, you will need a team of professionals in charge of the casino’s daily administrative operations.
Human resources is another crucial department in a web casino corporation, just like any company. So, ensure that you also have a dedicated human resource department.
Begin frontend UI SEO design for online casino organic rankings
A simple fact about the online gaming industry is that every site needs a customer base to achieve meaningful success and growth.
One of the ways to attract a customer base to your platform is through online casino organic rankings.
So, another vital detail to consider on how to start an online casino business is frontend UI SEO design.
Designing your frontend user interface with SEO in mind and incorporating relevant keywords ensures that your gambling site ranks well in the search engine result pages (SERPs).
Doing this will improve visibility and attract your targeted audience, increasing the organic traffic to your casino.
Minimise loading speed for user friendliness
While the looks of your online e Commerce casino do count, as mentioned, over-excessive graphics and design can overload the site and reduce the loading speed of a casino site.
Studies have proven that a few seconds delay in the load time of a page can lead to a significant bounce rate, leading to the loss of potential customers.
So, the way to start an online gambling business successfully is to prioritise user-friendliness and seamless accessibility and usability of your casino.
Implement strategies to minimise loading time and overall user experience on your platform.
Optimising loading speed reduces bounce rate and increases conversion.
A faster-loading platform also consumes fewer bytes, which results in smoother gameplay and helps save data usage costs.
Market your online casino business everywhere.
If you’ve been pondering how to start an online casino business, you should know marketing is an important aspect of every new or existing business, and the gambling industry is no different.
So, once you have successfully launched your online gambling business, the next step is to focus on marketing and promoting it.
The success of your startup casino heavily relies on how you can attract and retain customers on your platform.
And with the right marketing strategies, your brand will easily stand out from the competition and reach the target audience.
Affiliate marketing is one of the most effective marketing strategies most casinos utilise to attract new players to their brand.
This involves partnering with bloggers, streamers, review sites, etc., to create content that generates traffic to the casino.
The experienced affiliates will promote your own casino on their website or social media for a revenue share, cost per acquisition, fixed fee, or a hybrid compensation model, attracting a massive flow of new players.
Bonuses play another significant role in the marketing strategies of any online gaming company.
By offering customers welcome, deposit, reload, and other forms of bonuses and promotions, you can attract customers to your brand.
After all, who doesn’t love free money? However, you must attach clear terms and conditions to these bonuses, including wagering requirements, withdrawal limits, validity period, etc.
Your marketing strategy should also contain elements like search engine optimization (SEO), social media marketing, content marketing, display ads, traditional advertising, etc.
Winbox as a successful online casino business example
As mentioned, seeing the immense potential of the casino industry in relation to e Commerce, many online casinos have started over the years.
One of the iGaming brands that have succeeded in the South Asian market is Winbox 77.
Winbox is a fully licensed and authorised online casino that operates under the Philippine Amusement and Gaming Corporation (PAGCOR), adhering to Malaysian regulations.
Founded in 2019, it features gaming options from some of the industry’s best-certified software gaming providers utilising blockchain technology with accessible banking funds transfer methods.
As a part of its marketing strategy, Winbox offers promotional offers and multiple bonuses to both existing and new customers.
From no deposit freebie to first-time deposit bonus, free spins in online slots, cashback on consistent wagers, etc, the casino has something for everybody.
Besides playing skill-based gambling and many exciting games, Winbox encourages moderate betting and also allows its customers to participate and connect with like-minded people in a gambling club community.