There are more than 2,000 online casinos on the internet, a big part of them located in Malta and some in the UK.
There are too many things to learn about the online casino business, so in order to be easily understood, we will split the most important things about the online casino business in 5 easy steps.
- You need an online provider. This means you need to know what software and games you will be using, as this software will be the backbone of your casino. Here you will have two options: to either pay the provider a monthly fee (like a rent + a fee from your profit), or to choose a provider that will not require any monthly fees and that will send you the source code files after your purchase (this will offer you access over every aspect of your casino, plus full data privacy).
We will mention these providers:
- Rival Gaming, Viaden.com: they charge a minimum of €10.000/month + a minimum of 15% of the royalties from the casino. A Complete Solution Package from either of them will cost around €120.000/year.
- CasinoWebScripts.com they charge no monthly fees and even let you keep all the source codes for any of the games you decide to buy, while keeping 100% of the profit. A Complete Solutions Package from them will cost you around €100.000, and you will be allowed to use their products for the next 100 years.
- You need to obtain your casino license. Without it, you can’t operate legally. However, you can start your own BitCoin casino, as it doesn’t require a license.
- The first thing you need to do is decide in which country you will obtain your license. If you’re looking for the cheaper options, then you can choose Costa Rica (around €20.000/year, plus you can accept players from all over the world), or Romania or UK (around €150.000/year).
- Next you need to use a service like Slogold.net that will set up an offshore company that will represent the face of your casino during this process.
- The final step is to pay the casino license fee and provide them with whatever other information they might need.
- Choose what Payment Methods you will accept. This will enable you to receive the players’ deposits, to make payouts and withdrawals. The most preferred method is through credit cards. For this you will need a credit card processing credit card processing service that offers low rates.
- Advertise your casino. Now that you’ve completed those elementary three steps, it’s time to attract players who will turn your business into a profitable one. Select your target countries and set up local marketing campaigns through TV ads, radio ads, magazine ads and SEO techniques that focus on those countries cities. SEO will be your strong point on a long-term basis through which you will increase the number of players at your online casino. In order to implement those SEO techniques, you need SEO and content experts. Another good way to gain players is through Google AdWords Campaigns. Make sure you use this to your advantage by directing your players to a convincing and reputable website which will talk about the benefits that will result after playing at your casino. Set up Customer Support Services in multiple languages, as to cover the main spoken ones in the countries you are targeting. Plan events regularly in order to keep your customers entertained, as well as attracting new ones. Offer promotions in exchange for deposits in order to increase the number of new players. Another important advice is to reward fidelity! Offer prizes and bonuses to your most loyal players as to keep them coming back for more.
- Deal with challenges as they come. This industry faces you with challenges you wouldn’t normally encounter with other businesses, such as hackers. This might be your number one risk. Avoid unpleasant situations by hiring professional security personnel to take care of your servers. If your casino site is drawing in a lot of traffic, but few actual members sign up, then you are probably dealing with one of these issues:
- You don’t offer enough deposit methods
- You don’t offer support in their language
- You might not be offering them enough reasons to try out the casino: like promotions or bonuses
6. If they do sign up but leave quickly after that, they might not be satisfied with your games -make sure you provide quality online games, with easy-to-understand rules, nice and pleasant graphics, that work on all the important browsers and that can be played online. Also make sure to cover the most popular online games: like slots, poker and scratch cards.
There are indeed some big shots in the online casino industry, but we like them. They work hard to develop new games and try to discover and understand what user experience is all about. We know exactly what to do regarding them. Actually, most of the times, we do it better than them – we are more professional and one day we will surely prove it! We will become a big name in the online casino industry, alongside you, as a big part of this business would be yours!