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How To Open Online Casino Business

How to start a casino business?

How To Open Online Casino Business Opportunity

During the last 5 years people approached me with questions about casino investments and how to start a casino business. Some were eyeing online operations and some were interested in opening a land-based casino. Almost everybody had an impression that casino business is always highly profitable, easy money so to speak. All but one investor lost their interest after hearing the details. Online casino investment suddenly did not seem attractive, mainly because of high share of marketing expenses and geographical limitations. Land-based casino operations seemed to have very high taxes.
Why were potential investors scared off? They had false beliefs and lost their enthusiasm when they heard some truth. The main fact that sometimes comes as a surprise to somebody who is either not familiar with gambling business or is familiar but from a gambler’s perspective – casino always wins but in the long run and only if the casino is operated in a professional manner.

The dynamic nature of the online casino industry might really encourage you to contemplate setting up and running your own online casino platform. While this is a very lucrative business venture, the online casino sector is quickly becoming overwhelmed with internet casino websites. Jun 15, 2020 Summary of steps to open an online casino: Incorporate your gaming company. Apply for an online gambling license. Open a business bank account for your gaming company. Open a merchant bank account for your gaming company. Choose payment methods and systems for accepting online payments. Choose a gaming white label platform.

I will try to explain casino business without getting into too much detail. There are 2 types of casino operations:

Online

Land-Based / Floating Casinos

How To Open Online Casino Business Cards

Online

Online Casinos

They can further be divided as follows:

Land-Based / Floating Casinos (Off-line casinos):

  • Casinos with hotels
    • Casinos in integrated resorts
    • Casinos in city hotels
  • Just casinos
  • Electronic casinos (Slots only casinos without Live Game tables)
  • Floating casinos
    • Casinos on river boats
    • Casinos on ferries
    • Casinos on cruise ships

Online Casinos:

Own Online Casino

  • Web Based Casinos
  • Download Casinos

There are two possible ways to start an off-line casino business:

  • Open a new casino
  • Purchase an existing casino or become a partner in an existing casino.

If you are new to casino business or have only vague understanding about casino operations you must have an experienced casino professional to lead you through initial stages – market research, planning, feasibility study, business plan, casino floor design, casino equipment purchase, recruitment of key personnel, etc.

Although any mistakes can be corrected, some might turn out quite costly or some might not be possible to rectify at all.

  • If you choose a casino and slot management software and later realise it is not what you needed, most likely you will have to continue using it unless you want to spend $200,000-$300,000 to change it.
  • If you purchase slot machines that are not favoured by your targeted market, your revenues will suffer.
  • Flaws in your casino floor design might keep you from getting maximum returns or even increase your operational costs.

There are many ways to start an online casino business. Main options are as follows:

How to make a casino
  • Creating your own casino software platform.
  • Purchase a white label casino and brand it to match your vision.
  • Purchase an existing online casino.

A great resource for anybody wondering how to open a casino business is a book by Bill Friedman – Designing casinos to dominate the competition: The Friedman international standards of casino design.

If you want to get more information about how to start a casino business or how to operate a casino, check out casino management pages on my site and sign up to get notifications whenever I share new content.

Online casinos are one of the hottest, most profitable businesses that anyone can start today. Industry experts estimate that the online casino gaming industry recently took in more than $ 1.72 trillion globally and is projected to expand to some $2.2 trillion by 2021.

Open

Before you start seeing dollar signs over the potential riches you could make as the owner of an online casino, there are several steps that must be followed before you open your virtual doors.

Do your research

Casino Business News

You will need to research what kinds of games you will offer to your guests. For example, are they there to try play slots, bingo or is poker or roulette more popular among your casino site’s visitors? The games you choose will depend on local tastes, gaming laws, and what you find fun.

Follow the laws

Starting with the legalities is a good place to start. That begins with getting gaming licenses for all required levels of law. This can require a significant upfront investment and the creation of a business plan to show to regulators how you will comply with gaming laws and tax laws. You may also need to buy insurance and a bond depending on the laws. Hiring a lawyer to help you through this process can make it much easier to stay compliant.

Business

Creating or buying the programming

There are significant price differences between having an online casino website that’s built from the ground up and purchasing a customizable package. Sometimes the difference can be hundreds of thousands of dollars. You might have to reveal the details of what you choose to regulators before you can get your license.

The quickest way is to choose an existing software provider. Choose one that can provide references and has an established client base. Perform due diligence by looking at their history, credentials, industry seals of approval. Look at the different packages offered to see what games, features, payment and data privacy and site security options. You will also need to know if the software you choose to is customizable to include your casino’s branded graphics and logos. However, it can be quite expensive to purchase an existing package and you may have to pay licensing fees.

One way around this is to write the code yourself, but you will have to go through certifications to prove to regulators that your software is fair. It will also require you to hire programmers and make arrangements with payment system providers to allow your software access to their payment methods.

Select & register your casino domain name

Once you’ve got these taken care of, the next step is to decide on the domain name of your casino website. This is the address people will type in to get to your website. If possible, select a name that not only tells your casino’s potential visitors your name but make it easy for them to remember so that they can come back again and again.

To purchase a domain, you’ll need to go to a domain registrar and buy it. It’s a yearly registration fee, though you can pay far in advance. Be sure to keep it up to date or you could lose the name!

Find hosting

Next, you’ll need a place to host your site’s code. The requirements for this may be spelled out by gaming regulations. You may be able to find an existing hosting provider that is certified for gaming sites, but it may be better to host the site on your own servers for security and liability reasons.

Build the site

Now you can start building your site! How you design it is up to you, but first you’ll need to set up your gaming package. You’ll also need to consider your options for branding, including your logo and colors.

How To Open Online Casino Businesses

Your players will need some way to send and receive money from you. If you have purchased a package, there may be a payment system integrated into it. You may also have to accept certain forms of payment to comply with gaming laws. In general, it’s better to accept more forms of payment than fewer.

How To Open Online Casino Business Card

Test everything

Once it looks good, test everything thoroughly! If there is an error in the game, in the payment, or any other part of your site then it could scare off your customers. There are a lot of scam casinos out there. Getting your certifications in order and displaying them on your site will help, but if there’s a flaw in your site those may not matter to your customers.

How To Start A Casino

Now it’s time to open your virtual casino doors and start promoting it online. One way to get people to come is by giving both first time and regular visitors incentives to play. Offer affiliate programs as well as free games, cash jackpots, and bonuses. Be sure to pay these out promptly so that your online casino visitors will come back again and again!