HOW TO START AN ONLINE GAMBLING BUSINESS IN 6 SIMPLE STEPS
How do you start an online gambling company?
The iGaming industry has shown consistent growth over recent years, with more and more operators entering the online gambling stage. This means that it is becoming increasingly difficult to advance to the competition and to distinguish itself from the rest.
To start an online gaming business, you need the following:
- A professional iGaming software
- A gambling license
- A merchant account
- A special server
But is this all you need to achieve success and draw gamblers at your door?
While we may not offer a secret recipe to build the best gambling company, we can certainly provide you with all the necessary clues to build one.
6 factors to consider before starting an online gaming website
Choose a reliable iGaming software provider
This is the most important decision to make, as you enter into a long-term partnership with your iGaming software provider. Take the time to evaluate the existing options regarding the quality of services offered and the price.
You want to choose a software provider who has a deep insight into the online gaming industry and has experience in launching successful online casinos.
Search for flexible, fully customizable software solutions that help you manage the whole process, from design to post launch. You can choose from a white label solution that allows you to rent the software, game license and payment processing system and control your own casino under an established turnkey infrastructure.
Depending on your requirements, you should generally target a software provider that offers the following features in a white-label solution:
- An advanced gaming management system
- Payment options with multi-currency support
- Big coverage of the betting markets
- Access to a large selection of top international casino games
- A customizable front
- Gambling license
- Customer support
What do you want to include exactly on your online gaming website for your customers?
Once you decided to enter the online gaming market on an established name in the iGaming industry, there are a few questions that you must answer before continuing:
Which software platform do you use in your online slot?
Will you only offer popular casino games like slots, roulette, baccarat, blackjack, bingo or poker?
What about a live casino module? Nowadays, professional dealers, live video streams and user-friendly interfaces make the casino feel in the homes of players.
And what about sports betting in sport? According to the latest industry reports, in-play bets will continue to develop in the coming years in the area of live streaming technology.
Do you need extra features like real-time chatrooms, player statistics, bonus options or tournament?
With so many questions to answer, you should eventually consider your business and carefully choose your iGaming provider. Although you may only want to go with a casino or sportsbook platform at this time, you may decide to integrate additional games in the future. Under that circumstance, a reliable gaming provider can help you integrate all the required content under a smooth website interface.
Get a guess license for the targeted jurisdiction
- Building an online gambling business is not an easy task for today’s operators who must face challenges and legal requirements in different jurisdictions.
- At present, the following legal frameworks dominate the gaming industry:
- Countries regulating online gambling in their territory;
- Countries that have regulated and imposed monopolies;
- Countries that prohibit prohibited activities in their jurisdictions;
- Countries that do not have rules for gambling activities;
Although there are popular gaming jurisdictions such as Curacao, Malta, Alderney, Isle of Man and Gibraltar, which offer licenses for a large number of countries, ultimately, local legislation comes into force and is imposed on international law.
As a gambling provider, you must apply for a license in the country where you want to set up your business. It takes a few months a year to get a play license, depending on the country.
When choosing a jurisdiction, one must take into account the following:
- License Requirements
- Duration of the application procedure
- Costs and taxes
If you do not have the trouble to obtain a gambling license and reduce costs, you can become a licensee of your iGaming software provider.
Choose a payment system provider
When you start an online gaming business, you need to make an appointment with a payment system provider so that you and your players can make transactions quickly and easily. For ease of use, it is advisable that you provide players with multiple payment options.
At the same time, you must take into account the growing demand for payment providers who understand and adapt their services to the specific regional market conditions.
To simplify the process, you have the choice to choose an iGaming software provider that can deliver:
- Full services
- Processing of payments
- Integration with all major e-merchants
- Multi-currency support
- Advanced risk management
- Fraud detection
Keeping an eye on the selected market and choosing the best products, along with the easiest payment mechanisms, improves overall gaming experience and provides additional benefits to your business.
The need for multiple payment methods that provide a safe processing environment is therefore an essential element for each gambling site, now with the traditional payment methods that use credit cards and vouchers for the final integration of the bitcoin currency.
Our company provides a flexible payment processing platform that is integrated with 50+ payment methods and complies with multiple jurisdictions worldwide.
Work on the design of your website
The way your website is viewed is very important. You must choose or invest an attractive design in your front-end development, as it is the most important aspect for your players when choosing between tens or hundreds of similar bets.
To make sure you’re on the safe side, follow a few basic recommendations:
Do not overload your site with unnecessary graphics or elements that slow down your website and affect overall game experience. Studies show that charging time is important for players who could leave you if it takes too much time to load the website pages.
- Do not go to complicated and resource-demanding charts, such as movies, integrated graphics or different footage.
- Make sure your front end ensures seamless integration with your database.
- If you’re not sure about creating your own front end, we recommend that you address your software provider for a predefined template.
Implement a good marketing strategy, including loyalty and retention programs
If everything is taken care of, you need to focus more on promoting your new online gaming business. Investigate your competitors and discover what they are doing well and what they are doing wrong, so you know which mistakes to avoid.
Your main goal must be to position your online casino as a reliable and reliable company. It will be difficult to do this first, as the online gaming market is very competitive. The best approach is to have only quality games on your website, from trusted providers, to keep website design clean and to provide users with an almost perfect experience.
There must be a lot of effort to announce the launch of your new online gaming business. But you should not stop it. Ongoing marketing efforts are needed to keep your players back and to retire on a constant basis. Set up retention campaigns and bonus systems and make sure your players are always happy.
Some frequently used loyalty programs offered by online operators are: Sign Up Bonuses: Players acquire a sign up bonus when they join a gambling site; Deposit Bonus: Players get a bonus at the time they choose to deposit a certain sum of money; No deposit bonuses: The sports book offers free money without asking for a deposit; Free bet: Free bets are generally associated with the size of the deposit.
At the same time, each serious operator must focus on increasing retention levels. Here are some standard tools for keeping players with you: Frequent Player Points (FPP): This type of loyalty program is not just a bonus initiative for your players, but it appears to be a good retention tool because frequent players appreciate Hun loyalty; VIP Loyalty Programs: These programs run in a running way and focus on VIP players and high spenders; Seasonal promotions: Seasonal events are important to observe, such as a world championship or a European tournament, or by offering various promotions at festive moments such as Christmas or Easter; Notifications: Keeping an open channel with your players means that gaming sites must have an automated system to detect and record a player’s wedding behaviour; Betting assistance for new players: Big online sports books not only offer many betting options and a large number of markets, but they go to new players to help.
Starting an online gaming business is a challenging task.
Regional frameworks are important for each operator, not just from a legal point of view, due to the need to get a gambling license, but also because every player in the industry needs to develop and offer products that are specially adapted for a particular jurisdiction to ensure high level of insurgency Of compliance norm.
As operators, in particular starters who are ready to access the iGaming industry, need to customize aspects such as online gambling licenses, payment mechanisms and solutions that are tailored to a particular market, there is growing demand for dedicated iGaming providers who Meeting these requirements Through white label solutions and professional services.
Continuous efforts must be made to maintain high standards and to fully satisfy your customers. At the end of the day, it is the joint effort of your software provider and your marketing and sales departments that need to be tailored to bring your business forward.