Online gambling has always been considered one of the profitable areas of business. For the casino to be successful – profitable for the owner and interesting for the players, you must comply with a number of requirements and pay attention to detail. As a provider of software for online casinos SoftSwiss company is pleased to share its experience. We hope that this information will help you avoid common mistakes that may negatively affect your business.
Step 1. Preparation.
(a) Legal affairs
Online gambling needs to be licensed, so it is important to select a licensee and get one. There are two ways to address this issue – offshore states and EU countries. Each has its advantages and disadvantages – budget, time, reputation. Usually, the whole procedure of obtaining a license takes from a couple of months to a year, for example in Malta you will need 6 months.
The next step is to register a legal entity. This procedure includes registering a gaming company, opening a bank account and signing an agreement with payment system providers.
The alternative is to run the casino on a White Label model, i.e. supply the software along with the license and financial infrastructure under the auspices of the software provider. This scheme saves your time and does not require additional financial costs for licensing.
After resolving all legal issues, it is time to choose a professional online casino software provider. During the search, it is crucial to balance the price and quality of the product. In addition, you should pay attention to the attractive design and set of popular games. A quality product includes many components for a successful business:
- Call Management System
- Player Management System
- Bonus and incentive system
- Game administration system
- Payment system
- Notification mechanism
- Support for various administrators
- Affiliate Management System
- Security System
- Email support
Professional software and game updates, hosting support and technical support are also part of the standard package. Professional suppliers are always responsible for full technical support after product launch.
The cost of such a software package will be quite high, but we should note that the game is worth a candle, because you will get a responsible partner who will provide you with technical support at any time. Remember that the stingy pay twice.
c) Marketing planning
An effective marketing strategy is a key to the success of online casinos. At this stage, it is strategically correct to conduct a rigorous analysis of competitors. First of all, it will give you the opportunity to look at the whole picture of the market, learn about the leaders and their strategies. Thus, knowing the rules of the game, you can offer something new and unusual, which customers can not refuse. Plan your marketing moves, using the experience of the best.
If a company planning to launch an online casino, owns a real casino, they need to gain the support of their existing clients. To attract them, you can use a pleasant bonus system.
The next thing to do is to contact marketing companies or individual entrepreneurs specializing in online gambling on the Internet. These are search engine optimization agencies, media resources with casino reviews and others. This will help you understand the market offer and choose the right partners before you launch the website.
At this stage, you also need to think about the bonus system, marketing strategy of branches and check the quality of the selected software.
Once you have decided on the costs of the license, software and marketing services, you need to plan your budget. The best solution for young companies is to plan your budget for at least one year in advance, while for experienced companies you should plan for the longest possible time. Do not plan your budget before you launch the site, it is important to do so before. If you are a young company, remember that your costs will be higher. Your goal is to gain the trust of the players from the start. The owners of real casinos, unlike you, have already won their players.
Below we provide an approximate calculation of costs, which will help future owners of online casinos to develop a detailed business plan.
Step 2. Launch
The time it takes to launch an online casino depends equally on the owner and the software provider. Usually, the software installation takes up to 3 months. It includes web site design, computer platform, and game installation. The owner can speed up the process by providing regular feedback on all issues from designers and programmers. Any issue can be resolved by discussing the problem in time.
In addition, the owner must in time to touch on the following issues:
Getting a license for the games
Opening a corporate bank account and an individual account
Signing agreements with payment system providers.
Settlement of legal and financial issues – the task of the owner of the casino. SoftSwiss offers advice on these issues, but we can not guarantee success, because the responsibility lies with the casino owner. You will have to collect a package of documents for lawyers and the bank.
Step 3. Marketing
The secret to the success of the most popular casinos is not in exorbitant design and thousands of games. The best online casinos tend to have a fairly simple design and offer an average of 40-50 games at the beginning. The secret lies in thoughtful marketing strategies at every stage of the project. Online casino market – quite competitive sphere. First, it is quite difficult to get there. And secondly, to stay afloat, it takes a lot of effort. Thus, the company has only one chance to get ahead of its competitors. Below we present a number of points that are important for the prosperity of your online casino.
Positioning – gather a team of professionals, think through strategies and tactics of development, define your goals. Decide what niche in the online casino market you want to occupy, what is different from your competitors, what is unique in your casino, and what are your next steps.
The emphasis on quality is undoubtedly a winning strategy. Use only quality games from proven providers. Start your casino with a limited set of games: no more than 50 to get started. Nowadays being a professional who cares about his clients means using games based on HTML5 technology. This technology allows players to enjoy rich graphics and play with their mobile devices. SoftSwiss company offers games in this format from well-known providers, including Amatic Industries, Microgaming, Ezugi and vouches for their quality.
Preliminary advertising campaign – announce your casino, make potential customers wait for your project. Use every opportunity – online advertising, presentations, publications, and others.
Advertising online casino after entering the market – use search engine optimization, online advertising, banners on the network. All this will certainly work.
Campaign on attraction and preservation of clients – open a support service or the round-the-clock center of processing of orders where your clients could address at any time. Take care of your clients. Create a “Frequently Asked Questions” section, write memos about the rules of the game, provide players with trial versions of the game.
Think through the bonus system, run promotions and encourage your customers. Remember! Only the owner can choose the content of your site page, the software provider will help you install and make it work.
Step 4: Add-on: Work with Bitcoin
Promising online casino software providers offer Bitcoin as an alternative payment system. Online casino owners around the world appreciate the benefits of Bitcoin, such as savings on license fees and monthly invoices, fast payment process and much more.
As a recognized expert at the Bitcoin casino, SoftSwiss would like to recommend that potential casino owners understand the crypt currency, analyze the features of Bitcoin gambling and study the money transfer process. To do this, you need to make a few bets in existing casinos.
Understanding the essence of the payment system is essential for doing business. If you have any questions about launching a Bitcoin casino, you can contact our company.
Managing an online casino is quite a difficult job. To be successful, you need to solve all legal and financial issues in time, choose high-quality software and the right marketing strategies. Demand for online casinos will increase – experts predict a 40% increase in this area in the next few years. If you follow the above tips, you will easily meet the challenge and be able to become competitively successful online casinos. We wish you good luck!