Online gambling has always been one of the most lucrative and desirable areas to explore for business owners despite of whether they have experience in the field.
In order to open a successful online casino that will benefit an owner and bring pleasure to customers, one needs to follow the proper sequence of steps paying serious attention to all details.
As an online casino software provider SoftSwiss is glad to share its experience to help future online casino owners avoid common mistakes that may impede business launch, inflate budget or even close the business down.
Preparation a Legal issues Online gambling is a subject to licensing, thus an essential thing is to think about choosing the jurisdiction and obtaining a license.
There are two main venues where it can be done: offshore countries and the European Union countries.
Each has their cost of starting an online casino and cons — budget, time, reputation.
Usually it takes from a couple of months to a year to obtain a gaming license, for example, 6 months in Malta.
The next step after choosing the jurisdiction is to register a legal entity — a gaming company, opening a bank account and making agreements with payment system providers which will make the legal and financial infrastructure complete.
As an alternative to this method there is a which means leasing of software together with the gaming license and financial infrastructure from a software provider and operating your casino under your own brand but with the ready-to-use infrastructure.
Such a scheme protects from excessive legal and banking bothers but involves additional costs.
While searching the market it is wise to evaluate the price and quality balance.
Professional suppliers always take the responsibility for the full technical support of the after-launch product operation.
The software package that includes all of the above components might be on the upper edge in terms of costs, but the financial investments are worth it because as a result you get a reliable partner ready to support you during the whole project life cycle.
At this stage it is strategically correct to make a rigid competitors research.
First of all, it will provide you with a full picture of the market: who the leaders are, what strategies they use, what return on investment they get, etc.
Using the method of benchmarking plays perfect for the good of online casino success, and what is more important, it is free.
Plan your marketing strategy by adapting the best practices of promotion, advertising, and brand development.
If a company starting an online casino is operating land-based gaming business, it is crucial to bring the existing clients to play in Internet casino by offering attractive bonuses and thus developing loyalty and respect to the website.
Any know-how are always welcome but be aware of wrong calculated ideas from the mathematical point of view.
The next move is to contact internet marketing companies or individuals specializing in online gambling: SEO agencies, email marketing companies, media resources providing casino overviews, etc.
This will help define the best offers on the market and choose the right partners before the website cost of starting an online casino ready to launch.
At this stage, it is also time to think about your future bonus policy and affiliate marketing strategy, as well as check if the selected software provides the appropriate technical opportunities.
The best option for startup companies is to set the budget at least for the first year of operation, whereas for experienced companies who are entering cost of starting an online casino igaming market, the budget shall be defined for as long as possible.
If you are a startup-company you have to understand that your costs will be higher.
Your goal is to earn trust of players from the beginning.
Existing land-based brands already have trust.
Below there is an approximate expenses separation a future casino owner shall have in mind while developing read article detailed budget casino konto löschen online a business plan.
Pre-Launch expenses After-Launch expenses, 1st year Company set recommend crazy monkey casino online consider — 3-7% Company running — 5% License set up — 10-30% License fees — 1-10% Software set up — 25- 35% Software support — 10% Staff hiring — 10-20% Games Providers — 5% Pre-Marketing — 15-20% Marketing — 50% Other costs — 5-15% Staff — 20-30% At the pre-launch stage the biggest budget share shall be devoted to software set-up in order to casinos shreveport la best future users with quality product.
But after the launch it is vitally important to address half the funds to casino marketing and promotion.
Launch The time frame for online casino launch depends on both, business owner and software provider.
Usually it takes up to 3 months for the provider to set up the software.
It includes web site design, platform and games set up, custom settings and possible individual features.
The business owner may speed up the process of launch by providing regular feedback to all questions that designers and programmers might have.
Any issue can be resolved if discussed in time.
Setting legal and financial infrastructure is the task that only the business owner can accomplish.
In SoftSwiss we provide consulting services best options, contacts, etc.
You will have to collect a bunch of documents for lawyers and banks like certified passport copy, utility bill copy, certificate of non-criminal records… Step 3.
Marketing The secret of the most popular and successful online casino success and popularity is not about the top-notch design or billions of games included.
The best online casinos are simply designed and contain 45-50 games on average at the beginning.
The secret is in responsible marketing strategy implemented on all stages of the project.
Online casino market is an extremely competitive one: first, it is very hard to break into it, and then it is cost of starting an online casino harder to take a firm stand.
Thus, a company has only one chance to win the fierce race among competitors.
Below is a list of points that are vital for any online casino that is planning to be prosperous.
Determine what niche you would like to step in, how you are different from the competitors, what unique features your casino has, and what steps you are going to make further.
Use only quality games from trusted game-providers.
You can start your casino with a limited number of game providers, with focus on games based on HTML 5 technology.
This technology allows users to enjoy rich graphics games and enhance the overall experience with playing casino games on mobile devices.
At SoftSwiss, among our own high-quality HTML5 games we offer game content from the well-known providers, such as Amatic Industries, Microgaming, NetEnt, and we are sure about their quality.
Everything will work on cost of starting an online casino a competitive market.
Develop a bonus system, make auctions and entertain and reward your customers all the time.
Only business owner can establish the right content on the page.
The software provider should give you the possibility to work with the content, but not create the content.
Bitcoin casino Forward looking online casino software providers offer Bitcoin as an alternative payment system for their solutions.
Online casino owners all over the world appreciated such advantages of Bitcoin casino as significant cost of starting an online casino on license application costs and monthly fees, increased customer loyalty, fast payment processing and many more.
As an acknowledged Bitcoin casino experts, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the crypto currency, research on the peculiarities of Bitcoin gambling, and learn how transactions work by making a couple of bets at an existing casino.
Understanding the core of the payment system is essential in business, moreover it will help to build a strong marketing campaign and further manage the Bitcoin casino.
Contact SoftSwiss for professional advice on.
Managing an online casino is hard work but with all legal and financial issues resolved in a timely manner, quality software chosen and a strong marketing strategy in place, it can be successful.
The demand for online casinos will increase — specialists predict 40% growth of this market segment in the nearest year.
Following all the steps described above will help a newly made online casino to develop sustainably and outweigh the competition.
About SoftSwiss SoftSwiss is an established software provider that develops B2B solutions for the iGaming industry.
SoftSwiss offers a proprietary platform for running an online casino business, along with thousands of casino games and a range of associated services.
We are a software company first and foremost, but over the years we accumulated a wealth of knowledge about how online casinos work and what the iGaming industry is about.
Starting up an online casino, just like starting any web project, is cost of starting an online casino hard job where one has to keep a lot of factors in mind.
Articles in our Knowledge Base contain useful information that will allow you to have a smooth start and make your online casino a long-term success.
SoftSwiss has been working in the market of eCommerce and iGaming solutions since 2008.
With the advanced technical expertise and extensive knowledge of the industry, we deliver high-quality worldwide.
SoftSwiss is a unique tool introduced by SoftSwiss to enable businesses start their way in iGaming Copyright © 2008-2018 Software Company.
SoftSwiss is a registered brand and trademark of SoftSwiss Group.
Starting up an online casino, just like starting any web project, is a hard job where one has to keep a lot of factors in mind. Articles in our Knowledge Base contain useful information that will allow you to have a smooth start and make your online casino a long-term success.
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