Playing casino games is a popular hobby that millions of people around the world enjoy. This is why the online casino industry is one of the most profitable market in the world. In fact, its growth rate is at 11.5% CAGR from 2020- to 2027. Needless to say, many people are trying to enter the casino industry. In this tutorial we will show you the basics on How to Open an Online Casino the fast and easy way!
According to the latest casino news, the online casino market will be worth around $127.3 billion by 2027. With this in mind, there is plenty of room for healthy online casino competitions. As long as you have a plan, the right support and expertise and enough start-up money, anyone can do it.
How to Open an Online Casino – What do I need?
For most people, owning an online casino seems like an impossible goal unless they have a lot of financial backing. This is because they believe that the gambling software and infrastructure is beyond their reach. However, by using our easy-to-follow instructions, anyone can start an online casino!
What Kind of Casino do you want? This is important as it will determine the kind of games and content you will offer on your website. Will you offer a liver dealer casino for an extra fee or will you just offer slot machines and tables games? What about lottery, keno, Live Game TV and poker? The more options you give your players the higher the cost.
Choosing the right Online Casino Software – The second step is to find the right Online Casino Software that can take care of all of your needs. This is because you want a software that is affordable, flexible and can easily integrate other casino software.
For example, if you want add online slot machines from a different vendor in your casino. Your casino platform needs to be able to easily integrate their software with your casino platform. Ideally, you want a gaming software that includes player management, banking, promotions and even affiliates.
Casino Gaming License – Of course, you will need to obtain a casino or some kind of gambling license. Many companies are able to just get a general online casino license to operate. However, some jurisdiction like in the UK or the U.S. require a license specifically for their country.
Banking, Marketing and More
Banking and Securing Funds – Of course, you will need to get sufficient funds to start an online casino. Most companies will enter the casino business with over $500,000 depending on the size of their operation. Furthermore, banking is a necessary part of owning a casino which is where having a gambling license comes in. yes, it is much easier to get a casino banking account if you have a gambling license.
Marketing your Business – Of course, it is hard to have a successful casino without customers. This is why having a good marketing plan and budget is essential.
Options for Opening an Online Casino – Since not everyone can afford to open an online casino from the ground up, here are some other popular options.
A White label casino is a popular option as you do not have to obtain a casino license. In addition, they provide you with the casino platform and the cost is less than starting one from scratch.
A Pay Per Head Casino is also a viable option. This is because they are affordable and it only takes a few minutes to open. However, they do have more limitations in terms of choosing specific online casino games. This option is usually best for small gaming operators or new comers to the business.