Marcus Richards
Many people want to set up their own online business, and to be even more specific an online gambling-related business. The online casino industry is booming across the globe and experts predict that the industry will grow annually by 11% until at least 2026. When you look at these numbers it makes much sense to start your own online casino. However, there are a few pitfalls and things you should be aware of before trying to do so. In this article, we will discuss how you can set up your own online casino and what you should be aware of.
Things to keep in mind when starting your own online casino
First of all, the user experience of your online casino should be fantastic. There is a lot of competition out there and all the online casinos try their best to make their casino stand out from the rest. You won’t find success if you don’t have user experience in mind as the base layer for your online casino or online gambling-related business. You could market your casino as the lowest wagering requirements casino or the casino with the highest bonuses. There are a wide variety of casino software providers available, which you can partner up with to smoothen the user experience a bit. They each have years of experience in this market and their games appeal to almost anyone.
Note that it requires quite some capital to partner with these game suppliers as they ask for high fixed fees and sometimes even a revenue share on top. By offering their games, you’ll be having a decent selection of games, which is another thing you should keep in mind. No one wants to play at an online casino with only a handful of games.
Consider adding Sports betting services
Sportsbetting is the most popular casino product in the UK. So whilst you’re at it, you might as well add sports betting services to your online casino. To legally run online bookmaker services you will need a gaming license. You can opt to go for a costly gaming license from the UK Gambling Commission or choose to go the offshore route and get one from the Malta Gaming Authority or The Curaçao Gaming Control Board. Both are legal ways to offer sports betting services in the UK.
Setting up payment methods
If you don’t want an online casino where people can just play with virtual money or in demo mode as it’s called, you will need to set up payment methods for your online casino business so that users can easily deposit and withdraw funds. You’d have to partner with so-called payment processors like Neteller, Skrill, and Stripe to be able to accept credit card and e-wallet deposits. Maybe you want to even take it a step further and integrate cryptocurrency payments as well.
Getting players in with effective digital marketing
The online casino industry is one of the most competitive industries across the entire globe. For this reason, you will need rock-solid digital marketing to attract players and get the whole thing running. You might want to take a look at affiliate marketing, to have an entire army of website owners promoting your casino or partner up with a few gambling influencers. A good way to attract players is by offering bonuses. 200 deposit bonus, free spins, cashback, you name it, there are all kinds of bonuses you could hand out to players to make your online casino stand out from the crowd. There are just so many ways to market an online casino nowadays, with even gambling streaming being one of them.
Conclusion
The UK gambling industry is most likely to continue to grow and there are many opportunities in this market. There are quite some people looking to get into this market, possibly including you. Setting up your own casino is definitely not an easy task. However, that doesn’t mean it can’t be done. New online casinos launch daily. Some of the top online casino startups are almost just as successful as the big brands everyone has heard of. So don’t let anything hold you back. Just think of a good approach and who knows, maybe your online casino will be the next big hit.
