Launching a New Online Casino: What You Need to Know
If you want to enter the iGaming industry and start a new online casino, there is a lot you need to know. For example, you can start with the promotions you will offer: no deposit bonuses can get you lots of members in a short time. (You can check out the No Deposit Bonus Casino India offers for the best examples in this category.) However, promotions are not the only thing a casino should have.
“Opening an online casino is no longer as difficult as it used to be,” says Tony Sloterman, product owner of Casino Bonuses Finder company. “But that doesn’t mean it’s easy: if you want to be competitive, you need to build a solid foundation for your business, which requires making the right choices over a long period of time.” If you’re wondering what the right choices are, keep reading.
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How to start a casino business?
You might be surprised, but you can’t start with an online casino site: before you do that, you need to set up a company and get a license.
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You can think of a license as a kind of “permit”: it allows you to provide a legal service and accept members from some geographic regions. There are many types of licenses in the iGaming market, each with different features. For example, if you want to enter the UK market, you have to get a UKGC (United Kingdom Gambling Commission) license: it’s a very expensive one but also very prestigious, and that alone may be reason enough for players to prefer you.
If your budget is limited and you want to appeal to a broader geographical area, you can also opt for MGA (Malta Gaming Authority) or Curacao eGaming licenses. The first covers almost all of Europe, and the second covers Asian and South American countries. You have to wait several months to get each license, and the cost of the whole process can be quite high. But you have to do this: otherwise, you cannot provide a legal service.
White-label casino platforms
Once you get a license, you can start building your website. In this regard, you have two options: design a site from scratch by contracting with different teams and create your game portfolio by signing agreements with game studios. The problem is that choosing this method will take quite a long time: you may have to deal with it for more than a year.
The second option is to purchase a “ready-to-use” site template. There are companies that develop platforms called “white-label” in the iGaming industry. The platforms of these companies allow you to get a full-featured website: games, bonuses, payment system, and all other features of the site are already active, customized only according to your wishes. You just add your own logo, and in a very short time, you can have a functional online casino. Some of these white-label companies even handle the licensing for you.
To get an idea, you can check out SoftSwiss’ white-label platform: this platform consists of many different modules such as player account management, anti-fraud, game management, reporting engine, payment management, cashflow reporting, and CMS. It is used in more than 200 casinos. You can find many companies on the market that offer such platforms with similar features: each of them allows you to be up and running in just a few months, as long as you have enough funds.