The gambling industry is one of the most sought-after areas in business, which encourages ambitious entrepreneurs to create new online casinos and betting venues.
With what difficulties beginners will have to face on the way to achieving the goal, the advantages and disadvantages of online gambling, the size of starting investments and other relevant issues we will consider in this article.
CREATING A GAMBLING BUSINESS: IS IT WORTH IT?
Opening an independent gambling business, like any other independent project, is accompanied by a great risk for every entrepreneur. Fear of failing stops many ambitious start-ups from going beyond the simple “I want.” In order to succeed in the gambling industry and open a truly profitable project, you need to have more patience, perseverance and a solid starting capital. Before making a final decision, Slotegrator experts recommend weighing all the pros and cons of the gambling business.
|A wide audience of users due to the breadth of the World Wide Web||The current ban on online gambling in many countries|
|High profit||The preparatory stage of development, obtaining of an official license and the solution of other formalities require a lot of time and a large initial investment|
|The facilitated procedure for registering a new business, in contrast to the licensing process of land gambling houses||To obtain an official license, the newly created project must meet all the requirements of specialized regulatory commissions|
|Minimum staff, which will significantly reduce operator costs|
|No need to rent a specialized room for the launch of the project|
|Gambling online games do not require special maintenance, in contrast to real machines|
|Anyone can open an online casino or a network betting office. The main thing is to follow the letter of the law and have the necessary starting capital|
HOW TO START CREATING A GAMBLING PROJECT?
If you still decided to open your own independent gambling project – it is worth familiarizing yourself with the main stages of its creation and subsequent development.
STEP 1 st. Preparing for launch
The first step is to prepare for the launch of the site, which includes the following steps:
1. Analysis of competitors
The analysis of competitors will allow the operator to soberly assess the current situation in the gambling market and find out the main leaders of this industry. In addition, it is an excellent opportunity to understand what is not yet represented by brand companies and what can be further offered on your site. The main goal of every owner of gambling business is to satisfy all the needs and wishes of the client, having developed the most functional web resource. So do not be irresponsible in evaluating competing brands.
2. Business Costs: Budgeting
The creation of an independent business is always accompanied by large initial investments, and the gambling sphere is no exception. The future owner of a gambling project needs to have large financial savings. Only the acquisition of software and licenses will cost the operator a large amount. Specialists of Slotegrator recommend newcomers in the field of gambling to plan their budget for a year ahead and focus on increasing the possible costs, and not vice versa.
We bring to your attention the approximate calculations in percentage terms necessary for launching the gambling project:
- new company registration: 3-7%
- business licensing: 10-30%
- Purchase of software: 25-35%
- selection of personnel: 10-20%
- additional costs: 5-15%
During the first year of work, the total budget should include costs for:
- license renewal: 1-10%
- software support: 10%
- marketing services: 50%
3. Legal entity
Another formal issue that is subject to the paramount settlement is the registration of a new legal entity in the country that granted a license for the legalization of the gambling project. This process includes the registration of a new gambling company, the opening of a bank account and the signing of documents for payment with providers.
Professional software will not only attract new gamblers, but also retain experienced players. To the process of choosing a provider you need to take with all responsibility and scrupulousness. After all, the quality of the acquired software depends on the future reputation of the brand, the level of interest of the player and the frequency of his further visits. Not always high prices indicate the level of professionalism and competence, the main thing is the ratio of price and quality.
Professional software must meet the following criteria:
- to be maximally functional, uninterrupted and high-quality;
- support several foreign languages;
- to have high speed;
- support mobile playback format.
To conduct online gambling on a legitimate basis, a newly-minted businessman must obtain a license from supervisory bodies. The licensed certificate is aimed at protecting the rights of consumers and demonstrates the legitimacy of the actions of the gambling project. You can buy it in one of the offshore jurisdictions or EU countries.
The most famous regulators are Curacao , Directorate of Offshore Gaming and Kahnawake Gaming Commission .The cost of a license in the countries of the European Union is much higher than in off-shores. If in Austria, an entrepreneur will cost at least 350 thousand dollars, then in one of the offshore states the amount will vary from 10 to 30 thousand dollars. The reason is prestige and status.
The average duration of the license takes from a month (Antigua and Barbuda) to six months (Malta).
6. Website development (design, platform)
The appearance of the site is the “face” of your brand, because a web page, first of all, is a visual perception. The Internet resource should have an attractive and functional interface, convenient navigation, the simplest form of registration, a high level of security, etc. These factors determine the relevance of your site and the level of interest from the side of the gamblers. Focus on making it better than your competitors to stand out and become the target of choice for every gambler.
For today, software developers for online casinos offer a wide range of platforms, each of which has its pros and cons. The most budget and simple option for opening its online casino is a scheme called White Label, which gained popularity in the 1990s.
The solution involves launching its gambling project under the brand of a more well-known provider, which does not require an independent license. The site of the “subsidiary company” is developed individually for the requests of the new operator.
7. Purchase of a domain name
After obtaining permission to conduct online gambling business, the operator must purchase a domain name for his website. Remember: your goal is to stay in the player’s memory, so it’s very important that the name of the web page is as short as possible, readable and memorable for the user. Buy a domain name for an online casino or betting resource should be considered carefully, given the target audience and the corresponding key words.
8. Game Integration
A wide range of gambling is something that particularly encourages avid gamers to visit this or that iGaming resource. To attract visitors, we recommend first of all to integrate the most popular and traditional games. This will cause a trusting attitude from experienced gamblers and assure them of the reliability of the yet unknown company.It is very important that the software is supported on different mobile devices. This will significantly increase your target audience.
9. Integration of payment systems
To make and withdraw real money from the online casino or from the betting resource, special payment systems are used. It is worth noting that it is not practical to connect one, two or three services, since the audience of the gambling industry is very extensive. We recommend choosing only the most tested ones. Moneygrator from the company Slotegrator – an excellent solution for the operator, through which he will be able to integrate into his online casino order of 20 payment systems, providing more than 100 payment options.
STEP 2-nd. Launch of the project
And this long awaited moment has come! Having passed all the preliminary stages of preparation, you can concentrate on the direct launch of the business project.
As a rule, the total time of launching the site depends on the operator and the software provider. The owner of the company can accelerate this process, providing developers, programmers and designers with an operational feedback.
- Promotion of the gambling project: marketing promotion of online casinos
A well-considered marketing strategy is the key to the success of a new gambling project. Low attendance and zero traffic will lead the owner to bankruptcy. To avoid this, you need to use the following tools online marketing: SMM and SEO-optimization, active advertising campaign, e-mailing, various incentive and bonus programs.
Your main goal is to position the newly made gambling project as a trustworthy business. It is not necessary to reduce the budget by saving on the development of the site’s interface, advertising or purchase of questionable software.
STEP 3-rd. Guarantee of reliability and safety
The level of fraud on the game resources is quite high. Therefore, the issue of reliability and security of the site must be approached with all responsibility. In order to avoid illegal actions, we recommend that all operators provide full protection to their gambling resource. The security service should record all suspicious activities and always be on the alert.
How to attract visitors to the gambling site?
In the gambling industry there is a lot of competition, so online institutions are fighting for every new user, while defending the already existing ones. To do this, owners of gambling resources are doing everything possible for their part: they create the most attractive conditions, offer a wide range of games, various bonus offers, progressive jackpots, etc.
An important factor is the web page interface, since simplicity, functionality and convenience are very important for every Internet user. Tempting promotional offers, timed to some significant dates or events, will be an excellent start to attract new visitors to your gambling resource.
Open an independent licensed online casino or bookmaker company is not as easy as it might seem at first glance.The preparatory stage and the launch of the project itself are a long-term process that requires a financial and time-consuming process. Do not hesitate to invest in the development of your online project, because the competition in the gambling industry is very high and only the most enterprising gambling brands fall into the ranks of the leaders.The Slotegrator team wishes good luck to all novice startups.