Ever since the first online casino was launched in the early 1990s, there has been a phenomenal growth in their number. Currently, there are innumerable such sites online and more in the pipeline thanks to the fantastic support from casino enthusiasts worldwide. With millions playing on such sites at any given time, the industry is a very profitable one. If you want to cash in on the popularity, here are a few important steps to know.
Step 1: Do Plenty Of Research
As with any other venture, a casino to needs detailed and meticulous research. You have to look into various pertinent factors like the cost needed for setting up, the jurisdiction, and appropriate licensing. Other things you have to consider researching is, looking into the right software providers.
The gambling information you want to display on your site should also be researched. The payment options you want to provide is another crucial factor. And finally look into proper web design, marketing, and the right promotional campaign to launch the site.
Step 2: License Application
The foremost thing to do in a casino set up is deciding the particular jurisdiction for the casino. Next, you have to make arrangements for acquiring a license for the casino. With proper research, you can know about the legalities and other related information needed for procuring the license. Since you cannot operate without a license, you have to spend maximum time on this step until you are successful. It is prudent to get assistance from a lawyer for looking into the regulations and conditions. Here are a few of the jurisdictions for online casino sites:
- Curacao: Located near Venezuela coast in Caribbean Sea, this jurisdiction requires documents like a reference letter, a clearance certificate from Police, and a few other critical documents. The advantage of Curacao license is it is quick (in two months) and you need not pay tax on the profits you earn
- Kahnawake: Located in Mohawk region of Kahnawake, the gaming commission provides licenses for poker rooms, sportsbooks and casinos online especially for Canadian operators. One of the great casino canada has a license from this jurisdiction
- Malta: This gaming authority’s license is much sought after as it is accepted by the gambling authority in UK. The advantage of this license is you can accept British players. The authority charges around 1.25% tax on profits
There are several other such jurisdictions that you have to investigate thoroughly to choose one that is most beneficial for you.
Step 3: Choose A Software Provider
Software providers are plenty in number. So you have to choose the right provider to support the games on your site. Choose software that is flawless, features engaging games, and loads instantly. With a proper provider, you can be ensured of fast transactions, good customer support, attractive promotions, and secure gaming.
Providers are of two types namely, individual developers and B2B service providers who offer the games as part of a package that includes a license. Saving money and time is possible with the latter option. Some of the top software developers include Microgaming, Playtech, and more.
Step 4: Pick Reliable Payment Options
When you have completed the above 3 steps successfully, you have to look at the payment options you provide for your customers. Having a diverse range of options is wise. This will ensure the deposit and cashing out operations are smooth. Options like Visa, MasterCard, E-wallets like Skrill and PayPal, Bitcoin, wire transfers, and PaySafe Card give customers sufficient options to pick from.
To lure customers to your site, keep them entertained, and make them return for experiencing the ambiance again requires meticulous planning and execution. With the right design and features, you can improve visibility and awareness. As you can see the steps you need to cover are not hard. Get started now!