On the surface, online casino ownership seems like the ultimate dream ticket. The world’s leading developers come up with the games themselves, meaning you simply have to get them out to gamers in order to begin pulling in profits. So it’s basically a case of taking other people’s work and making a serious amount of money from doing so.
Sound a little too good to be true?
That’s because it is – online casino ownership isn’t quite as easy as you might expect.
Truth is, it’s because the whole thing comes across as so easy that so many lacklustre casinos exist, courtesy of equally lacklustre providers. For a look at how things should be done, look no further than 10Bet’s online casino. For a look at how things shouldn’t be done…well, we won’t be pointing any fingers right now. But chances are, you’ve come across a fair few dodgy dealers yourself as of late.
Still, if you genuinely believe that you have what it takes to succeed in the online gambling game, there’s nothing to say you can’t. Nevertheless, there are a few things you are going to need to get your business up and running, which go far beyond a simple bare-bones website. A professional software provider, the required licensing, a dedicated server, accountancy, web design and so on – it’s not the kind of thing that adds up to a simple back-bedroom operation.
But if you’ve decided that throwing your hat into the ring is something you have every intention of doing, here’s a quick rundown of just some of the things you are going to need to do along the way:
- Choose a reliable iGaming software provider
For a start, you are going to need to select a reliable and suitable iGaming software provider. And as we aren’t in the habit of advertising or promoting any one over any other, this is something you are going to have to research for yourself. Basically though, you are going to need a software provider that knows exactly how the gaming industry works, has a huge amount of experience and a track record in the launching and on-going development of successful web casinos. You need to focus on flexibility, reliability and the kind of software provider that resonates with your target audience. Variety and quantity play a part, but it is the quality of the iGaming you offer that will make all the difference.
- Choose your target audience
Contrary to popular belief, there isn’t just a single enormous global crowd looking for the same thing when it comes to online gaming. Quite the opposite, the global online casino audience is split into an incalculable number of sub-groups. For example, some online casinos are designed primarily for female audiences. Then there are those that focus more on big spenders and experienced gamers the newcomers. Some prefer to offer more online slots and table games, some are all about the life dealer experience and so on. You need to think exactly how it is you intend to target with your casino, before having any chance of building a successful casino. Which is something that takes a serious amount of time and effort to look into.
- Site depth and planning
Make no mistake about it – you are not going to get away with simply making things up as you go along. Instead, you need to have a comprehensive business plan and blueprint for your website, long before the physical development of your casino begins. Which means taking things into account like which games you will offer and in what kinds of quantities, whether you intend to offer a sports betting facility, how you will offer and manage chat rooms, how memberships and customer accounts will be handled, any loyalty schemes you intend to offer and so on. Not to mention, how and to what extent you will cater to mobile markets.
- Obtain a gambling licence for the targeted jurisdiction
You can’t expect to get far in today’s online casino market without full licensing and regulation. Which is something that is becoming increasingly difficult to obtain, given the way in which regulatory bodies are becoming stricter than ever before. You will need to measure up to the mark in a variety of areas, in order to stand any chance of qualifying for a gambling license. In addition, you also need to acknowledge the importance of obtaining the correct licence for your chosen jurisdiction. It’s worth bearing in mind that while there may be the option of operating without a licence in certain jurisdictions, you will never be interpreted or valued as a professional by doing so.
- Choose a payment system provider
One of the most complicated elements in setting up a professional online casino is that of building and maintaining a payments system. Contrary to popular belief, it isn’t quite as simple as having one big bank account to store all the collective funds of your customers. Instead, you need to think about things like fraud detection, advanced risk management, the support of multiple currencies, payment processing and permission, payment types accepted and so on. Not to mention, the required insurance/safety facilities to cover yourself, if something goes drastically wrong on your end.
- Web design
In terms of the overall design of your website, the best approach is to take a look at the most successful online casinos currently in business. You’re not looking to rip them off wholesale, but instead get a good idea as to the kinds of standards today’s online casino community expects. The simple fact of the matter is that if you fall behind this kind of standard even to a limited extent, you are only ever going to be viewed as a second-rate service provider.
- Staff requirements
Last but not least, it’s important to accept from the earliest possible stage that you are not going to be able to run your entire business on your own. Manning customer service telephone lines, marketing and promoting your business, handling financial and accountancy issues, updating your social media profiles, blogging, keeping up to date with industry developments and so on – there isn’t a human being on the face of the earth that can multitask to this extent. So unless you can handle at least a handful of computers on a 24/7 basis every single day of the year, it is inevitable that you are going to have to bring others along for the ride.
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