How Hard is it to Start Your Own Online Casino?

Statistics have clearly shown that the online casino industry is booming, and it doesn’t show signs of stopping anytime soon. In fact, the online and mobile gambling industries are projected to continue growing well into the future. Those who got in early are sipping cocktails on a remote island, and I’m sure there’s plenty of people who would like to enjoy similar success.

With so much competition out there, starting your own online casino will take some research, fortitude and innovation – as well as a start-up investment. You can’t simply throw up a virtual mirror of today’s most successful gambling websites and expect players to flock to it. You need to match their finest qualities, while finding new ways to pique the interest of the iGaming community.

In short, that means providing a wide variety of gambling opportunities, an abundance of attractive, highly-marketed promotions, and a secure gaming space that exudes integrity.

Getting the Games They Want

Unless you have access to supreme investors, you’ll be purchasing a license from a software developer to incorporate their games into your own online casino. The cost of such a license will vary greatly, depending on the number of games you choose to incorporate, the breadth of platform compatibility and range of services. Many software providers offer a complete B2B package that includes everything from backend services to customer support.

You’ll want to go with a company who offers a large portfolio of popular titles, like Microgaming, NetEnt, Playtech, etc. The more the merrier, and integrating mobile content is a must. With diligent negotiations, you may be able to contract out a percentage of the profits to offset licensing fees, rather than paying 100% out of pocket.

Promoting your Own Online Casino

This is the most important aspect when it comes to the success of your online casino. If you can’t attract customers, you’ll never get anywhere. You have to give the players what they want, and in such a way as to be more attractive than what every other site already offers.

No-deposit bonuses are excellent because they allow players to test your casino without locking themselves into anything. If they like what they see, they’ll stick around and deposit… especially if you offer a nice incentive there, as well. See what other popular sites are offering, and step it up a bit, then tack on some free spins as a cherry on top.

Now you’ve given your players promotions, but how do you tell them about it? This is where affiliate marketing comes into play. Some software suppliers offer an affiliate group as part of their B2B package, and while this is going to cost more, the services are well worth it. When hundreds or even thousands of affiliate marketers are posting your online casino’s ad banners, the word gets out pretty quick.

Building Trust from Day One

Who is your target audience? Do you want to open your virtual doors to anyone and everyone on the planet? A large potential player base sounds nice, but most reputable regulatory bodies won’t support you, and without a license from a respected regulator, customers will never trust your product. Narrowing your market just a little can harvest the favor of the Maltese gaming authority, which opens your online casino to players from major iGaming markets like Australia, Canada and much of Europe.

A UK license would be ideal, but prepare to spend a lot of extra dough, and pay the 15% tax on profits from UK players. You may need to gain a solid reputation and player base before accessing that market.

Other Ways to Innovate

You’ll need to think outside the box to bring about a truly unique product. Offering less common currencies, like Bitcoin, is a good idea. Bitcoin has been around long enough to be a recognized brand, but not many online casinos offer it yet. Incorporate a lot of other payment options too, like credit/debit cards, online payment processors (Neteller, Skrill, PayPal, etc) and alternative methods like instant eChecks and bank transfers.

Consider expanding outside the online casino realm. Incorporating a poker room, sportsbook, racebook, financials, skill games, etc, can be more attractive to players who like to mix up their wagering.

Experienced players always read the fine print. Don’t put outrageous wagering requirements on your bonuses.

Consider original names for your promotions. Perhaps a ‘morning coffee bonus’ for those who deposit between 6-8am, or a ‘lunch break payday’ that comes with 10 to 20 free spins for depositing between 11am and 1pm. Use your imagination!