How to Launch Your Own iGaming Site: A Step-by-Step Guide
Daniel Levi
Posted On August 14, 2024
According to the data obtained by researchers, revenue in the iGaming market is anticipated to show an annual growth rate of around 5.55%. Furthermore, while user penetration in 2024 is about 2.7%, it’s projected to reach 3.3% by 2029. Interestingly, the UK, the USA, and Canada are the most profitable regions to establish a gambling business. Hence, experienced and budding entrepreneurs regularly wonder how to start a casino. Let’s break down the complex process into manageable, straightforward steps to make this audacious idea a reality.
1. Begin with In-Depth Analysis and Strategizing
You must create a future-oriented and customer-centric strategy to run a viable business. First, find out everything about your potential clients. A portrait of the target audience should include their demographic data, interests, and social standing. Navigate to the platforms of your future competitors and assess their strengths and weaknesses. Think about what their customers lack and analyze how you can beat your opponents.
For instance, many gambling sites offer a poor choice of crash games, confusing interfaces, high deposit and withdrawal limits, or unfavorable bonuses.
Starting a casino can rely on a SWOT Analysis. It consists of estimating this business segment’s advantages, disadvantages, prospects, and threats. An all-around investigation ensures you’ll be ready for unforeseen circumstances.
When developing a business plan, determine the costs of your future venture. Consider the following:
- Pricing of licensing — $20,000–300,000+;
- Website building — $6,000–60,000+;
- Gaming software — $10,000–200,000+;
- Payment gateways — up to $5,000–6,000;
- SSL protocols and other security methods — up to $10,000;
- Marketing expenses — $10,000–300,000;
- Wages for workers, etc.
Can anyone open a casino? In theory, yes, but this business demands serious investment.
2. Consider Legalization Processes and Legal Nuances
All gambling websites are subject to licensing. Permissions can be issued by local authorities (in countries where casino games are allowed) or international regulators, such as Malta, Curaçao, and Gibraltar. The latter option is usually less expensive for business owners. However, pitfalls exist. If your country prohibits the operation of international casinos, your platform will be blocked, and you’ll have to pay six-digit penalties.
Therefore, understanding the legal subtleties of a particular region is a must. Follow these recommendations:
- Figure out if commercial casino business is legal in your region. For instance, within the USA alone, some states allow certain types of games while others completely ban all forms of gambling.
- Check age restrictions and self-exclusion principles. For example, setting bet and deposit restrictions monthly is mandatory in German casinos. Moreover, these establishments must offer customers no games except slot machines.
If you face difficulties in interpreting local regulations, consult a lawyer. As for getting a gambling license and taking other actions, you can also reach out to specialists. Some trustworthy platforms provide entrepreneurs with turn-key, crypto, and white-label casino solutions.
3. Build a Website and Decide on Casino Software
To create a prosperous casino business, you have to:
- Select a concise yet catchy domain name. It mustn’t copy any existing trademarks.
- Choose a hosting provider. Consider the uptime to keep your server running, the proposed security tools, and the scalability to deal with traffic spikes.
- Put yourself in the shoes of your potential customers to create a user-friendly interface. Select a color scheme that ensures comfortable playing without eye strain at any time. Take care of the convenience of mobile gamblers since over 70% of customers will visit your site using their handheld gadgets.
Your gaming platform must be easy to navigate, even for newcomers. Make sure the key features (online support, bonus terms, types of games) are visible from the first few seconds.
Next, integrate top-notch and sought-after games from certified developers. Select providers approved by internationally recognized laboratories: eCOGRA, BMM Testlabs, SIQ, Quinel, iTechLabs, GLI, etc. Don’t restrict your casino lobby to slot machines only, albeit they make up about 71% of customer demand. Add RNG-based and live table games, crash, and modern instant titles (sports simulators, Mines, Plinko).
4. Implement Marketing Tools
Indeed, you must employ content and affiliate marketing, social media, and SEO tools to involve as many customers as possible. However, professional entrepreneurs recommend beginners to focus on various promotions.
The statistic shows that bonuses are the main attraction for 47% of new visitors. Follow the experience of world-known competitors. For instance, a Shambala casino with no deposit code from a trusted website allows gamblers to get 20 free spins without replenishment. Individuals sign up with this platform, redeem a voucher, use extra rotations, and continue playing at this venue in the hope of getting the next beneficial incentives. No-deposit bonuses can also encourage your clients to download a branded casino app. Give them 10–50 free spins for installing an application, and you’ll notice the rapid growth of mobile players.
Lavish welcome bonus packs also matter. You can grant your new registrants match incentives on 3–5 initial replenishments and complement them with free spins. Remember that the wagering requirements must be loyal (of 20–40x).
You can also carry out network tournaments in partnerships with prominent developers, such as 3 Oaks, Pragmatic Play, Spinomenal, Wazdan, Playson, etc. Some of these events include random prize drops to involve more participants.
Conclusion
Do you still ask — is owning a casino profitable? Our answer is affirmative, but you must have an adequate material base. Keep in mind that establishing a casino requires a lot of time. Business people need 3–12 months to obtain a gambling license alone. Furthermore, you must be concerned about other business intricacies. Hire qualified staff for around-the-clock support, keep up with the latest trends, and regularly expand the list of payment methods.
