Starting a business is always a bit risky, especially if you do not know enough about it. However, by choosing casino as a business, you can achieve considerable success very fast, if you do everything right.
Online casinos generate profits comparable to the ones of oil companies, which is why this business is so popular today. However, what is the first thing to do? Those who have already owned, for example, land-based casinos, are familiar with this business, but there are newcomers who know absolutely nothing in this area. This article is for them.
If you really want to manage a casino, you have to understand that the gambling business requires flexibility and focus on details. You will need to cooperate with partners and meet with regulatory authorities, as well as comply with multiple requirements peculiar to this business.
Everybody can change one’s mind, but in order to save your time and money, it is very important to take a final decision on starting this business and dealing with the problems related to it. It is rather difficult to organize a gambling business, but this task is doable. All you need is to draw up a clear action plan.
We offer you our business plan for starting a casino, which will be useful to those who really want to find out all the peculiarities of this tough business and get a guideline on how to make it work.
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Opening a Casino. Step-by-Step Instruction
Register a legal entity (if you do not have one). This may be a limited liability company, an open joint-stock company, a private unitary commercial enterprise or an individual entrepreneur – it depends on what type is more suitable for such activity in a specific country. Without a legal entity, no business can be officially conducted.
Study the gambling market with a focus on competitors. At this stage, it is best to analyze what companies operate in your region, what games and services are offered by gambling establishments, what customers are visiting these casinos. In short, you need to find as much useful information as possible. At the same time, you should define your target audience and buy games based on its preferences. For example, women like bohemian games with luxury cars, champagne, and Versace dresses, but men choose something completely different. However, it is worth noting that almost all casino owners try to please everyone at once, and some succeed.
Acquire a gambling license in order to operate legally in a specific country. If you choose casino as a business, this issue needs to be studied carefully because different jurisdictions require different types of licenses. You can get it in one of the offshore zones, but owing to the complexity of doing this on your own, it is better to contact the companies providing such services.
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Develop and launch your own gambling resource for casino games. Creating a website must be taken very seriously, as this will be the “face” of your brand. You should not hire fresh university graduates, but professional website developers. In this case, the benefits outweigh the cost.
Main features of an online casino site are:
- Simplicity and functionality.
- Clear, customizable, and easy-to-use interface.
- Attractive colors and stylish design.
Create the domain name. This is maybe the easiest step of the business plan for starting a casino. By using some letters from your brand’s name, you will have your web address. However, this name should be easy – then players remember it faster. For the domain registration, you need to check whether such a name is not taken and conclude an agreement with the provider.
Choose hosting for your web site. Hosting is the location of the resource. The hoster is responsible for its security, efficient operation and the absence of failures. It is better not to use cheap services and choose a reliable well-known hosting company in order not to switch it later if you have any issues.
Integrate online casino software. It is pretty obvious that casino software plays a huge (maybe even the most important) role in the gambling establishment’s operation. Being installed on the casino site, special software launches all the processes – neither slots nor roulette wheel will spin without it.
Choose and install games and other functionally important programs. As we have already found out, the software includes games. However, they also need to be selected from the huge list offered by the provider. You can easily take what the casino software developer offers you because it has the experience and the staff of professional marketers who know which games are currently popular in the region. In addition to games, various programs for technical support of the site, as well as payment systems are also available. Experts recommend installing as many payment services as possible, because a player, for example, may not have WebMoney but have a Visa card, and if there are both services in the casino site, the customer will remain there.
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Engage in promoting your casino. When you create your own casino business, it is necessary to return the money invested in it. In order to start making profits, you have to promote your product by using advertising. The problem is that gambling advertising is currently prohibited in almost all countries. However, some jurisdictions allow casino advertising – in this case, the money you spend will pay off very quickly.
If there is no opportunity of using advertising, then you should try social networking services. This includes the creation and promotion of groups, the attraction of new users and the various bonus campaigns. You can also pay attention to affiliate programs that can help you to make a strong entry into the market. In general, there are many ways to promote a casino via the Internet. Marketing and consulting companies, as well as expert recommendations, should also not be neglected.
More about Software
According to experts, the casino software is one of the most important components of the gambling business, since it is a core element of the system. To summarize the above information and emphasize its importance, we provide you with a list of the main casino software features.
- The software should be of high quality, and everything in it should run like clockwork: the download, the process of the game and so on.
- The functionality must comply with its intended purpose: each button shall be responsible for a separate function.
- High-speed software for the smooth running of games and processes.
- The software should take into account all aspects relating to the casino operation: the game process, winnings, and payments.
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More about Gambling License
If you want to create your own casino business, you should consider the specifics of obtaining a gambling license. Therefore, in order to acquire a casino license, you will need such documents:
- Scans of a legal entity registration certificate.
- Scans of constituent documents.
- Passport copy of each founder.
- Scans of the founders’ decision on the company’s name assignment.
- Certificates confirming the real existence of the company and the office (copies of utility payments).
- Certificates of the accounts’ registration and the availability of funds in them, certified by a notary.
- A copy of the business plan for future activities, which reflects the estimated income and expenses.
These documents, together with the application for obtaining license documents, must be sent to a company providing the license services. Obtaining a license in the jurisdiction of any country means that online casinos should operate in accordance with its laws.
As you see, our business plan for starting a casino includes many items to be implemented. Once again, it is better to entrust obtaining a license to a development company that also offers a license. The licenses are issued by jurisdictions located in various countries – Estonia, Spain, Curaçao, and the Isle of Man. A list of these states can be found on the Internet on special sites.
Reliability and Safety
Every online casino is trying to protect itself from scammers and unscrupulous users who are trying to make money, for example, on bonuses. At first glance, it seems that the amounts are small, but, in the long run, they turn into significant losses for a company. After a player registers on the site, he receives, for example, a bonus of $10, but he can take other people’s documents and register at ten or twenty online casinos at once. In this case, the bonus amount will be multiplied for the number of accounts.
Gambling business implies different bonus campaigns such as “bring a friend” or “No deposit bonus after registration” to attract gamblers, but unscrupulous players earn substantial money on it. Online casinos use enhanced security systems to avoid such unpleasant situations.
Lack of technical support is a grave mistake for a casino as a business, because a lot depends on this service, including the number of visitors.
Let’s consider the situation when a player needs to withdraw funds from his account but does not know the withdrawal rules. In this case, he needs to find out what to do next. That is why the user is writing to the support service but does not get any response and, accordingly, cannot get his money.
What is the conclusion? He will never play in this online casino again, but ruin its reputation with his review.
Professional technical support is a must-have for any online casino. These people, in addition to being professionals, should be polite, friendly, and ready to answer any question at any time of the day or night. After all, reviews on forums will always do their job – no one wants to play on the site with lots of negative reviews.
How to Lure Players to Casino Sites
Casino owners have always been concerned about the issue of attracting users to gambling sites. Suppose a player came for the first time, saw his favorite slot machines, played a little, and then just went to another online casino. How to make him stay longer, and even better – make him a regular user? Our business plan for starting a casino will help you with that.
There are different ways to resolve this issue. For example:
- Conducting special promotions, campaigns, and bonuses for coming to the site at some time of day.
- Holiday prizes.
- Payments to players who brought new users.
- Implementing other profitable loyalty programs.
- Partnership with marketing and advertising companies.
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