With the online gaming industry booming through this age of austerity, there has never been a better time to start your online casino business. With thousands of online casinos starting up every year bringing in an estimated $10 million, competition is high but the rewards are massive.
Here are some points that need consideration to help you find the right segment in a diverse marketplace.
1. Research is key
I would stress that there are a couple of key criteria’s that your research must tick. Are you going to host a download based casino, a purely Flash based business, or more controversially a mix of both? There are many varieties out there for you to consider, for example the slots at Intercasino are readily downloadable for their customers to play in their own time by simply signing up.
Secondly look at the different types of games that are already available; some casinos are completely poker based, whilst others offer a full range of slot games, scratch cards and even horse racing. Have a look at these different forms of games, as understanding how they work is key to making sure your business will thrive!
2. Choose the right Country to house your business
There are many tight restrictions that need to be understood before starting out in the online casino world. To comply with the laws and restrictions that apply to this sector you need to obtain a gambling license. Some countries don’t offer a license at all, so my advice is to search for information on gambling licenses and find a resource that will inform you different countries’ rules on gambling and help you make an informed decision.
Also it may be worth mentioning the importance of gaming licenses here. A legitimate gaming license adds credibility to your site and lets your customers know that you treat their trade and comfort of the uppermost importance. Licenses can be pricey so do your homework first, but do expect to pay anywhere from $1000+
3. Software Packages
Choosing the right software package is imperative! There are many that offer just games, but my advice would be to go with an option that houses the games, payment gateways and marketing to ease up the strain on yourself. There are 2 main types of software currently available, Flash based or download based, so you need to be fully committed to your style of casino before gaining the software.
4. Payment methods
Let’s face it – you can’t have a casino without money being spent and gained. Unlike retail where you only need one or at the most two payment gateways, online casinos need a variety of ways a customer can pay in and also methods for paying out winnings. Clickpay, as an example, are a popular choice for casinos due to the ease of transactions.
Other noteworthy payment methods are Credit Card Billing, Western Union and bank transfers. Whichever methods you choose to use, making sure the money is easily accessible for your customers and yourself is of uppermost importance in this business sector.
Cass Brookes is a content writer with 5+ years experience in writing for business, retail, press and various publications.