New online casinos are springing up everywhere, flooding the market with all kinds of gaming options for players of all kinds. If you are thinking about opening a casino, you can quickly launch a website and acquire the necessary certifications and licenses. In this review, we'll find out how to open a casino and explore all crucial steps involved in this process. Although casinos have become easier to launch in recent times, new entrepreneurs still face various challenges. First of all, you'll need licenses and permits to ensure the business is legal. You also need a stunning website for your customers, and each requirement comes with different options to choose from.
It is vital to research how to start a casino and develop a comprehensive business plan first. IGaming is unlike other industries and comes with many regulations, requirements, and obligations. Each country has unique laws that govern the industry. Players also have varying preferences from one market to another. Hence, you'll need to conduct thorough market research and analysis, employ a professional and well-balanced marketing strategy, and sustain ongoing progress to succeed. Fortunately, there are several booming online casinos, and new websites keep emerging, so you can see for yourself that this venture is 100% feasible and possible by looking at your competitors’ running projects. Below is an overview of what it takes to start an online casino.
Online Casino Business Plan
Every casino needs a well-thought plan that maps all processes involved. Here are seven vital parts of an efficient business plan for an online casino.
- Market operation select
- Company registration
- Getting a license
- Creating a casino website
- Games Content
- Payment Systems
- Marketing and promotion
1. Market operation select
Before you start a casino, you'll need to define the market where the site will be operating. Market selection is the first step of how to start an online casino business. It affects various other decisions, such as the licenses you'll need to obtain to operate in the region, types of games and products you can offer, payment methods, etc.
For instance, if you intend to provide games in the UK, you'll need a UKGC (United Kingdom Gambling Commission) license and must participate in GamStop problem gambling prevention service. On the other hand, if you intend on running an independent casino accepting players from all over the world, you can do it with a standard Curacao eGaming License. The market will also determine what support languages you need to offer, the level of competition, bonuses, and many other things.
2. Company registration
Once you choose a market, you'll need to apply for a valid casino license from the authorities that regulate gambling in the jurisdiction. Licenses are only awarded to companies, so you must first register a company for which the gambling license will be issued. The same company can apply for permits from various gambling commissions. Ensure you review all regulations in the country of operation to register your company in the appropriate industry to prevent future issues when applying for a license. The company should have a verifiable name, license, headquarters, tax ID, and other vital features, according to the gambling regulations. With proper knowledge and assistance, registering a company is an effortless task you can complete in a day.
3. Getting a license
If you have a company and are ready to start your own online casino, you should apply for a gambling license. Each jurisdiction with a legal gambling industry is governed by specific agencies. For instance, the UKGC licenses casinos in the UK, while MGA (Malta Gaming Authority) offers licenses to operators in the EU. Here are three licenses you should know about.
- Curacao. With a Curacao eGaming License, you can offer casino games (slots, table, and poker), bingo, lotteries, sports betting, etc. Your casino also accepts players from the globe, except for the USA, France, Netherlands, Curacao, and various EU states.
- Malta Gaming Authority. As aforesaid, the MGA license allows operators to accept players from the EU. With this license, you can offer casino games, sports betting, eSports, bingo and lottery, games of skill, Bitcoin casinos, fantasy games, and more.
- Gambling Commission. Also known as the UK Gambling Commission, the UKGC license is highly regarded as one of the best. The commission upholds strict standards and allows operators to accept players from Great Britain and the rest of the world. You can offer casino games, sports betting, arcade games, gaming software and machines, lotteries, mobile casinos, remote gambling, and more.
Below are the main requirements for the license application process:
- Application. Complete the gambling license application form provided by the licensing commission and make sure all information is accurate.
- Business plan. Create a comprehensive business plan for the online casino using the correct structure/format and submit it along with the license application.
- Fulfillment of requirements. Review license requirements and obligations to make sure your company and casino software meet all of them.
- Operational requirements. Set up all casino processes and operations, including account registration, transaction processing, promotions, games, etc.
- Compliance review. Analyze your casino once more to ensure you meet all compliance requirements pending review from the commission.
4. Creating a casino website
You’ll encounter various solutions when researching how to start a casino website. Each option has unique advantages and drawbacks and suits different operations. None is the best, so it all depends on your needs and budget. The three main casino website solutions include:
Self-development of a casino website
Outsourced casino website development
Ready-made solution (Turnkey)
Learning how to make an online casino website on your own is a daunting process if you have no background in web development. Self-developed casino websites suit established brands with in-house designers and programming experts. You'll need to determine the programming language and code all features and aspects of the website, which can take several weeks/months. If you are looking for a fast-delivered site without much coding, you shouldn't choose self-development, as it is a time and resource-consuming process. However, this option may suit you if you intend to launch a fully custom brand from the ground up.
Many new entrepreneurs research how to build an online casino website with an outsourced team, which was once the popular choice for those with little background in web design. An outsourced team can help you build a professional-looking website for your casinos and most also provide ongoing support. However, you must find a trustworthy team of experienced web designers willing to commit time to your project. Otherwise, you may end up with sub-par websites that load slowly and face various technical issues on a daily basis.
Ready-made solutions, also known as Turnkey, are the best option when you are looking to create your own online casino website without any difficulties. Although it compromises some customization, a ready-made solution offers quick casino platform delivery, pre-built integrations, and ongoing support. It also costs much less than outsourced websites. With a ready-made website, you can launch your site and begin accepting real money bets in as little as 48 hours. Everything you need is designed into the website, and you can also customize the layout and theme to suit your brand.
5. Gaming Content
You'll need gaming content for your casino, and there are numerous options from different providers on the market to choose from. Some popular casino games include slots, card games (poker, blackjack, etc.), table games like roulette and baccarat), dice, bingo, lottery, board games, live dealer games, etc. If you choose self-development or outsourced websites, you'll need to find reputable operators to power your gaming lobby. Conversely, if you choose a ready-made solution, the company will integrate the games and developers on your behalf. You can also specify the games and providers you want to be featured in your casino.
Popular game providers include Pariplay, Pragmatic Play, Evolution Gaming, Yggdrasil, GameArt, Endorphina, etc.
6. Payment Systems
It is vital to choose popular payment systems when starting your own casino business. Your market will determine the payment method required. For instance, UKGC casinos are currently prohibited from accepting credit card deposits. Also, some eWallets are not available on some markets, so make sure you review the popular options before integrating banking systems. More importantly, your players should be able to make deposits and withdrawals safely and on time.
If you outsource or build a website from scratch, you'll have to find trustworthy systems and integrate them with your platform. However, if you decide to choose a ready-made solution, many important systems come pre-built into the website, so you can choose what to include.
7. Marketing and promotion
Now that you have a website ready to launch, you need to get the word out for a successful liftoff. Marketing and promotion are vital for any business, more so an online casino, which often faces competition from local and offshore websites. Make sure the website has a sleek, aesthetic, and user-friendly design, with fast-loading pages and features. You should also optimize your web presence through SEO, market through direct emails, and offer a referral program.
Other forms of promotion include using generous bonuses and running social media marketing campaigns to attract and retain players. Ready-made platforms like Nuxgame offer impeccable web design and comfortable multifunctional architecture. You only have to take care of the marketing to keep your business afloat.
Are you ready to start an online casino business? The process is relatively easy if you understand what's required and what are the existing options. We recommend Nuxgame if you don't want to do the hard work of programming the website by your own means. It offers top speed and delivers a ready-to-go casino website within 48 hours. With a team of professionals on your side, you'll need less effort as Nuxgame provides you with consulting services and all kinds of support to help you set up a company, obtain a license, and complete the integrations required to run your site.