Gambling is big business across the globe, with no signs of slowing down. Thanks to more countries beginning to relax some of the rules and regulations around sports betting and gambling, the market is continuing to grow at a record rate. Comparatively to previous years when the gambling industry was particularly difficult to break into, modern-day gadgets mean it is now more accessible than ever.
As technology has developed and become widely available, more online casinos have made their way into the industry and players are now opting to play casino games online over visiting a brick and mortar venue. As of today, owning an igaming business can generate big profits, but it also comes with a certain amount of responsibility.
While there is no magic set of rules for creating a successful online casino, there are several factors to consider that, if you get a good grasp of, you stand a good chance of being successful.
Rule 1 – Obtain the correct license
The first rule in the book when starting up an online casino is to obtain the correct license. As laws vary by country and, in some cases, by each province and state, be sure to check the local law for your area in order to ensure you are following the rules.
With a license, your online casino will benefit from being able to operate in a wider range of countries, receiving more favorable treatment from payment providers and merchandisers, being able to open a settlement account, and being able to get listed in the Play on iStore.
You can decide which country you want your license for but be aware that each license will have different benefits and limitations. In addition, some licenses will cost far more than others. On average, a license from the likes of Curacao or Gibraltar is usually cheaper at around $15-20000 but may be less reputable than a license from the likes of the UK or Germany where it could set you back by as much as $40000. The type of license you choose will also determine how much tax you pay, so do your research on the different license types chooses wisely.
Rule 2 – Create a great website
Creating a great website is essential if you want to compete with the competition in today’s market. According to the American Gaming Association (AGA), there are approximately 2,800 online casino sites, meaning that if you want yours to be successful then you are going to need to come up with a way to provide a superior user experience. It is essential that you chose a website provider that will meet the growing needs of your business. Consider how quickly your online casino will grow and whether your chosen platform will have the capacity.
You also need to have a great landing page and a solid SEO strategy in order to ensure your online casino site can be found by new potential consumers. Some of the best examples of successful online casino sites tactfully use keyword research to target their audience and well laid-out and designed on-site pages to keep them there.
Thanks to their continued success through their great graphics, solid reputation, and impressive games, 888 have been able to grow their casino business on a global scale and have recently expanded into the EMEA market with the launch of their 888 online casino Kuwait-Arabic domain, we found it an impressive and sleek website.
Rule 3 – Choose a reputable gambling software
Now that you’ve obtained a sufficient license and found a leading website host, it’s time to decide on what gaming software you’re going to go with. A good software partner will provide a complete package, including a gambling platform that integrates with your website. This will enable customers to create an account, access the software provider’s games, and many more features.
The provider should also offer an integrated payment solution. The competition of today’s market is fierce, so your payment methods could greatly impact how successful your online casino is. Be sure to include popular payment options such as PayPal, Visa, American Express, and popular crypto-currencies such as BitCoin if you want to stay competitive.
Most importantly, your software provider should be reputable, have an established client base and position within the market, and have a variety of high-quality games on offer, from slot games to Poker and more. The more variety and interaction you can provide, the more customers you are likely to attract.
Rule 4 – Create a solid Go-to-Market Game plan
You’ve created your website, found an excellent software provider, and have all the legalities in place. But how are you going to enable potential customers to find you in a sea of online casinos?
Unless you’re a professional marketer, it may be a good idea to consult a digital marketing and PR agency to get you started. A good digital marketing agency will be able to ensure your site is SEO optimized, build you an effective PPC strategy, and help get your brand noticed in major publications within the industry.
Customer loyalty programs are also essential in attracting and retaining a reliable customer base. Be sure to choose a reputable CRM, email provider, and content management platform in order to build solid foundations for your marketing strategy.