Thinking of starting an online casino business from the ground up? That might be quite an idea, as an online casino operation has been considered to be a fast-developing and profitable business in recent years. According to the statistics, the market size of the casino and online gaming sector worldwide reached 226.8 billion U.S. dollars in 2020 and the sector is forecast to grow by 17.6% in 2021.
Casinos are the second most common form of online gaming in Europe, amounting to 32% of the market share in 2018. Online casinos were surpassed only by online sports betting (42.5%) but had left lotteries (12.6%) and internet poker (5%) far behind.
Therefore, in such a competitive market, it is essential to consider some key factors for the successful launch of your online casino platform.
1. Develop a comprehensive business strategy
2. Select a trusted and established software supplier
3. Determine a casino content
4. Get a license that is best for your business
5. Variety of payment methods
6. Security and Privacy
7. Dedicated customer support
Develop a comprehensive business strategy
It is not realistic enough to run a profitable business without a well-thought business approach. A carefully developed business strategy can ensure a significant part of your new business’s success. Your business plan should cover at least the following points;
- What is the biggest advantage of your new business?
- How fast are you going to enter the market?
- How are you going to compete in the market?
- How much money are you going to invest and what is your total budget?
- What margin do you expect to receive?
- What is your marketing, sales, targeting approach?
Select a trusted and established software supplier
The major part of online casino operation success can often depend on a carefully selected and integrated software solution So, it is essential to opt for a leading gaming software supplier company, as they provide the core of your brand identity. Although the iGaming market is extremely competitive now, not all platform suppliers can deliver equal quality products. You should make sure that the software supplier is proven reliable, can provide a customizable casino look and software solution packed with a variety of features you need, including multi-platform options and mobile capability.
Ideally, casino platform providers should meet the advanced requirements of online gaming operators. So, owning an individually developed gaming platform is of special importance.
One of the reasons why Digitain’s Casino Games Aggregator is in great demand is that it is a complete one-stop solution for running an online casino business. The aggregator offers a full suite of tools and features for successfully operating and maintaining an online gaming site; from player registration to user management, from payment solutions to content management. With the Digitain Casino Games Aggregator operators have all the required elements and more to customize and operate their own online casino website.
Determine a casino content
Another key factor of how to start an online casino operation is to fix what type of content you wish to include in your casino platform. In this regard, it is important for your business to deliver a diversity of casino content.
Customers need to know what they can find on your website and what device they can use. Therefore, your casino platform needs to have engaging and popular content for customers of different ages and with differing interests.
Ideally, the best online casino suppliers include at least the following popular games on their platform;
- Poker and skill games like Belote, Domino, Backgammon, etc.,
- TV Games
- Live Casino games – Blackjack, Roulette, Baccarat
- Table & Card Games – Bingo, Keno, Hi Lo and many more.
Some online betting operators look much further, and along with casino games also deliver sportsbook and virtual sports betting capabilities through the same platform. Actually, you don’t necessarily have to offer your users everything, but it is a plus to have a large selection of games that are available to you and then choose the content that best suits your brand. To keep your players entertained, the quality of games you deliver is as important as the number of games that are included in your online casino. In this way, you can offer the experience you wish to your target audience.
An outstanding and reliable casino platform provider can help you with the right choices and provide you with both the best in – house developed products and third-party engaging content from their top software games partners.
At Digitain we understand that each business is unique and try to meet the most sophisticated requirements of our current and potential partners. We offer 7000+ casino games – both our own product and our partners, (who are among the best in the iGaming industry) -all integrated into a single casino lobby. Moreover, it can be tailored to your brand and easily navigated through category tabs and search options. Your players can enjoy our Casino Games on the web, mobile and tablet.
Get a license that is best for your business
Having a gaming license is necessary to create a legal platform. So, obtaining a license is essential for your online business as operating an online casino without a license would be illegal. Lack of a license can also be a problem to acquire partners- leading banks and payment service providers may refuse to work with non – licensed casino businesses.
To have a license, first and foremost it is necessary to decide the jurisdiction you wish to operate under and choose a country to get it from. This is an important choice and there are different factors that you should take into account in terms of how your casino runs, your new business profitability, and the costs you can face.
The licensing process itself can take quite a time from a couple of months to a year depending on the certain location. One of the reasons why some gaming businesses prefer White Label solution for their casino operation (although Turnkey solution delivers many other advantages) is that it also includes the license enabling speed-to-market process.
Online casinos are not legalized everywhere but there is at least one country in every region where it is possible to get a license. For instance, in Europe, you can obtain it under the jurisdiction of Malta, Montenegro, Gibraltar, and more. It is also worth keeping in mind that every country has its own rules and requirements for online casinos and the taxes also can differ locally. So, you should select a jurisdiction which is the best for your business.
To acquire a license, you should make sure that your casino software supplier and platform are compliant with the country’s regulations you are going to operate in. Moreover, the leading software provider company can support you at least with the necessary information and guide you on how to get a license.
Digitain is committed to a multi-jurisdictional licensing and certification strategy within international regulated markets to ensure exacting technical and regulatory compliance can be assured for the partners. Our regulatory and compliance team are continually monitoring different markets and emerging jurisdictions, for the latest trends and updates which can impact your business operations and, therefore, can provide clients with initial or on-going support whenever needed.
Other factors that matter
Along with above – mentioned factors which are significant for running an online casino business, there are also other points that should not be underestimated.
Variety of payment methods
The availability of different payment options is important for your iGaming business. So, when choosing an online casino platform, make sure that it supports at least the most commonly used payment methods. The leading online casino platform suppliers allow a variety of payment options – bank transfers, credit cards, e-wallets, even cryptocurrencies like Bitcoin, for the users to implement secure online transactions regardless of their location.
Working with outstanding payment solution providers, Digitain offers its partners over 130 payment options to accept deposits, transfers, and withdrawals for digital gaming via a single wallet solution.
Security and Privacy
An online casino platform generally deals with confidential data and a large amount of money. So, the software solution should provide a top-level of protection against an unauthorized login. To attract more users, online casino platforms need to make security a priority, protecting players’ identities, private information and bankroll.
Currently, there are numerous options to protect data. So, make sure that your software supplier can provide cutting – edge security features.
Dedicated customer support
Along with getting a solid casino platform that makes the betting experience enjoyable, it is also significant for the online casino business to get a stable B2B support from the software provider.
A reliable casino gaming software provider is the one that is always available and is ready to provide complete, high-quality support instantly.
At Digitain, we value our partners’ time and loyalty and make them equipped with real-time, multi-language and top-quality support.
In case you want to know more about Digitain’s Casino Games Aggregator, do not hesitate to contact us.