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The casino industry has seen immense growth throughout the years, and it continues to grow year by year. The online casino business is quite lucrative, and that’s why many people are eager to enter into the gambling industry. If you want to start an online casino, there are several ways to accomplish that.
However, there are numerous casino businesses in the industry that have made it difficult to emerge as a new business. That’s why even though it’s a profitable business, you need to come up with something unique that’ll distinguish you from your competitors.
There are processes you need to follow to establish your gambling business. Some of them include a server, a license, an online casino software, and a merchant account. But you can eliminate the traditional process by either using white label software or turnkey solutions.
You need to sit down and decide which you want to proceed to establish your business. We will give you tips on different strategies to start an online casino. Starting your business from scratch can be stressful and overwhelming. So you need to be detailed in your planning to make it less stressful.
In this guide, we will provide you with every information you need to know to start an online casino as stress-free as possible.
If you’re ready, let’s get into it.
Know The Major Players Before You Start Online Casino
Starting a casino business is a complicated process which relies on the following:
Software developers: responsible for creating casino games.
Platform suppliers or providers: responsible for implementing player interfaces
Online casino sites: Provides services to people like you
Of course, someone has to develop the casino game before we can play it. It involves all kinds of developers with various cross-disciplinary teams to transform gaming ideas into poker, roulette, or slot games.
After they complete the work, the product will be ready for players to enjoy the casino game. They’re able to do this by uploading the game onto an online casino site. Now, searching for game suppliers is quite simple, but providing the games on the platform is the complicated part. That is, if you plan to develop it yourself.
Building a platform involves a lot of money and takes considerable time, especially if you’re planning to start an online casino business. Game suppliers such as Microgaming also provide platforms that have easy-to-use interfaces.
Some corporations also provide advanced software such as white label solutions, that come with casino games that are integrated from various suppliers. So if you want to avoid numerous problems such as lack of funds, time, resources, expertise, or experience, then white label solutions are the best option.
Before we talk about the white label software, here are the factors you need to take into consideration.
Factors To Consider Before You Start Online Casino
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Before you proceed any further, there are some factors you need to consider. Here are them.
Get A Reliable Casino Software Provider
How you choose a casino software provider will determine whether you’ll attract more players to your business or not. As the business owner, you should be able to determine if the services a software provider offers are of high quality.
The online casino software provider that can enable you to take full autonomy of the entire process such as payment systems, games, complete control of your casino and ability to lease the casino software. If you decide to choose white label software, the provider should be able to include:
Support payment methods with different currency options
Customer support system
Decide On What You Want On Your Online Casino Website
Do you have a software brand you plan to use? What type of games will you include? What about a live casino option? Will players get bonuses and promotions? Maybe live chat customer support? Here’s a tip: find out what your potential customers want and include them on your website.
But before you do that, you need to know who your potential customers are. You can find a professional to assist you in determining your future customers.
Prepare A Detailed Marketing Strategy
The marketing strategy is very crucial. You should not consider it as a secondary option. Pull your resources together to research the market you’re entering into. An example includes retention and loyalty programs.
Loyalty programs refer to the deposit bonuses, bonuses, no-deposit bonuses, etc. And retention programs make sure your customers keep coming back, such as promotions, VIP loyalty programs, etc.
Acquire A Gaming License
Acquiring a license is different for every country, and that can make the process of acquiring the permit tiresome and frustrating. The regulated casino market includes a few countries where they have predetermined the gambling conditions. The countries are separated into groups that:
Manage their gambling markets
Regulate their market and have full control
Don’t regulate the market
Develops the online casino site
Focuses on promoting and marketing operations
If you decide on choosing a jurisdiction, use the period of the license, the cost of the license, and the reputation as determining factors to make your final decision. However, if you prefer to start an online casino quickly, we recommend that you use the white label internet cafe software.
Get A Secured And Verified Payment Method
One of the things you must be able to achieve flawlessly is an excellent payment system that can help you and your customers to make transactions without any issues. It’s recommended that you provide different payment options due to various payment systems in different countries.
Develop A Good Website
You should create an excellent website that can attract and retain both players and potential customers. Developing a quality site makes your business value go up, and that will attract many customers. So take a considerable amount of time to come up with a high-quality website. The survival of your online casino business depends on it.
White Label Casino Software Or Turnkey Solutions?
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If you want to follow the steps outlined above, there are two ways to go about it: white-label or turnkey sweepstakes software. White label software is a product that comes with everything you need to start your online casino business, including registered licenses, payment systems, etc. at a low price. You can have a fully functioning online casino website within weeks.
Turnkey mostly provides the same functions, but you hire an expert to build everything from scratch, which can take months to establish your casino business. After completion, the casino becomes yours entirely, and you can customize it any way you want, but the white label does not come with that option. Technically, the white label is not yours. You’re only leasing it and rebranding it as yours, so there are limitations.
Which one is the best choice? It all depends on you. Of course, the white label is popular because it comes fully complete. All you have to do is concentrate on your marketing strategy, and it’s cost-effective. But turnkey can be expensive, and if you don’t make sure the expert developers create a quality website, that can affect your business.
In all, they both can help your business succeed. For you to choose the best one, it relies on several factors, such as how quickly you want to start your business, your budget, etc. If you have the budget to go for turnkey, then go for it; if not it’s better to stick to the white label.
However, it’s good to know that even companies with lots of budgets still go for the white label because of the cost-effectiveness. Take the time to do your research and found out what’ll work best for you.