Recently, the American Gaming Association revealed that commercial gaming revenue hit an all-time high $5.3bn in revenue. Commercial gaming here would mean everything from in-person gambling to online gambling and sports betting
Thanks to the advent of the latest technologies like VR gambling sets, cryptocurrency casinos, smartwatch gambling, and other exciting new projects, the industry is primed to keep going even up.
What does this mean for aspiring entrepreneurs who wish to dive into the industry? That there’s a huge potential to make some ‘cool cash’ in this industry.
Indeed, there is. If you’re willing to ride the storm and beat the crowd, there’s a lot of money to be made in the casino industry. In this post, we’re going to be teaching you tips to enter and make money from the casino business.
How to start an online casino business
1. Deciding on the kinds of games your casino will be offering
Every casino is different. At some casinos, you’ll find some games, while at others, you may not find such. For example, the popular slot Oneida site has all the best slot games in the world, but it has no provision for games like Dreidel (a popular Jewish casino game).
To start your casino, you, too, will need to identify and make up your mind about those games you want to offer on your site. Usually, many startup casinos start with a few games like slots, poker, blackjack, sports betting, and maybe craps. You, too, can start small. Of course, as time goes on, you can add more games later.
To make your casino more fun and lively, you can add live games. These types of games allow gamblers to play in real-time as if they’re in a live casino.
2. Identify and partner with reputable software providers
To start a casino of your own, you need to have access to the games you will be offering. In the casino world, gaming companies create and control these games. Some popular names include NETENT, ZUGI, EVOLUTION GAMING, BETRADAR, and so much more.
As you can imagine, the games offered by each of these companies differ. Their pricing, guarantees, and security levels differ, too.
So, to choose companies to partner with, you’ll need to review a couple of them offering the types of games you’ll like to have in your casino.
3. Secure your gambling license
To run a casino, you must be licensed under the law to do so. Unfortunately, the online casino world is so vast that one rule doesn’t govern every rule. In fact, rules that work in one country may not apply in another.
But generally, we can divide countries into the following categories based on the application of their casino laws:
- Countries that govern their own casino markets (you have to abide by their rules to service gamblers in the country)
- Countries that only permit casinos based in their own country (you can’t enter as an international casino. Players will only be able to access your site via VPN)
- Countries that prohibit gambling of all sorts (Players in these countries can only access your site on VPN)
- Countries that do not interfere in the casino markets
Of course, you won’t be able to access every country in the world, even if you want to. But for the ones you have a vested interest in, you should find out what the gambling licensing standards are.
4. Partner with internationally-recognized payment processors
One of the biggest points of worry for many casino gamblers is money security. Players are usually skeptical about casinos that employ unfamiliar payment processors.
You should try to incorporate the most popular payment gateways and modes of payment on your site.
These days, many casinos are facilitating crypto transactions. If you want to appeal to the Gen Z markets, you, too, need to make provision for accepting and remitting funds in Bitcoin, Ethereum, and other crypto-assets.
5. Create an aesthetically-pleasing website
An online casino is first a gaming site before anything else. As much as you (the business owner) and your customers (the gamblers) intend to make money, the gaming experience is also very important.
To give players the best experience, you need to build a website that checks all important boxes. Talk about modern UI/UX, appealing designs, easy navigation, amazing content, mobile-friendliness, site responsiveness, fast loading site, and so much more.
6. Marketing
The last step of the process is marketing. You’ll need to develop campaigns that get your business in the faces of gamblers worldwide.
An advantage online casinos enjoy is they can be accessed from anywhere in the world. But for that to happen, you need to invest in the right marketing strategies.
Some of the best marketing strategies for a casino business include SEO, content marketing, social media marketing, affiliate marketing, bonus and loyalty marketing, etc.
