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Online gambling has always been one of the most lucrative and desirable areas to explore for business owners despite of whether they have experience in the field. In order to open a successful online casino that will benefit an owner and bring pleasure to customers, one needs to follow the proper sequence of steps paying serious attention to all details. As an online casino software provider SoftSwiss is glad to share its experience to help future online casino owners avoid common mistakes that may impede business launch, inflate budget or even close the business down.

So when evaluating the cost to start an online casino consider the following: Each of these developers has a minimum charge of EUR 10,000 per month plus a 15% cut of the casino's royalties. An all round solution from one of these will cost a minimum of EUR 120,000 per year. Setting up an online casino is far more involved than many think, and the level of cost can be frightening. However, for well-run, successful casinos the profits on offer more than justify the costs. Even a $1 million outlay could be easily recouped by a solidly run online casino within a year. So, how hard is it to start your own online casino? According to industry insiders, starting a real money online casino can be quite a headache, with plenty of factors that one needs to take into consideration. For example, there are gaming licenses that need to be applied for, and online casino software providers that need to be partnered with.

Step 1. Preparation

a) Legal issues

Online gambling is a subject to licensing, thus an essential thing is to think about choosing the jurisdiction and obtaining a license. There are two main venues where it can be done: offshore countries and the European Union countries. Each has their pros and cons – budget, time, reputation. Usually it takes from a couple of months to a year to obtain a gaming license, for example, 6 months in Malta.

The next step after choosing the jurisdiction is to register a legal entity – a gaming company, opening a bank account and making agreements with payment system providers which will make the legal and financial infrastructure complete.

As an alternative to this method there is a “White Label” scheme which means leasing of software together with the gaming license and financial infrastructure from a software provider and operating your casino under your own brand but with the ready-to-use infrastructure. Such a scheme protects from excessive legal and banking bothers but involves additional costs.

b) Software

As soon as all legal issues are investigated separately or simultaneously, it is time to choose a professional online casino software provider. While searching the market it is wise to evaluate the price and quality balance. Besides the attractive design and a set of popular games, a quality product shall also include a reliable gaming platform which allows for effective management of casino business and includes the following components:

• CMS
• Player management system
• Bonus and promotions management system
• Game management system
• Payment system management interface
• Cashier system
• Reporting engine
• Support of different roles for administrators
• Affiliate management system
• Anti-fraud system
• Retention email system

Regular software and game updates, hosting and technical support shall also be part of the provider’s package. Professional suppliers always take the responsibility for the full technical support of the after-launch product operation.

The software package that includes all of the above components might be on the upper edge in terms of costs, but the financial investments are worth it because as a result you get a reliable partner ready to support you during the whole project life cycle. Be aware of the fact that buying a cheaper solution might result in double spending in the future.

c) Marketing planning

An effective marketing strategy is a key point to online casino success. At this stage it is strategically correct to make a rigid competitors research. First of all, it will provide you with a full picture of the market: who the leaders are, what strategies they use, what return on investment they get, etc. Thus, knowing the game rules allows creating a unique offer which customers won’t be able to decline. Using the method of benchmarking plays perfect for the good of online casino success, and what is more important, it is free. Plan your marketing strategy by adapting the best practices of promotion, advertising, and brand development.

If a company starting an online casino is operating land-based gaming business, it is crucial to bring the existing clients to play in Internet casino by offering attractive bonuses and thus developing loyalty and respect to the website. Any know-how are always welcome but be aware of wrong calculated ideas from the mathematical point of view.

The next move is to contact internet marketing companies or individuals specializing in online gambling: SEO agencies, email marketing companies, media resources providing casino overviews, etc. This will help define the best offers on the market and choose the right partners before the website is ready to launch.
At this stage, it is also time to think about your future bonus policy and affiliate marketing strategy, as well as check if the selected software provides the appropriate technical opportunities.

d) Budgeting

Once the costs for legal issues, software and marketing are defined, it’s time to plan your budget. The best option for startup companies is to set the budget at least for the first year of operation, whereas for experienced companies who are entering the igaming market, the budget shall be defined for as long as possible. Don’t plan your budget after setting up the online casino website, plan it before. If you are a startup-company you have to understand that your costs will be higher. Your goal is to earn trust of players from the beginning. Existing land-based brands already have trust.

Below there is an approximate expenses separation a future casino owner shall have in mind while developing a detailed budget within a business plan.

At the pre-launch stage the biggest budget share shall be devoted to software set-up in order to provide future users with quality product. But after the launch it is vitally important to address half the funds to casino marketing and promotion.

Step 2. Launch

The time frame for online casino launch depends on both, business owner and software provider. Usually it takes up to 3 months for the provider to set up the software. It includes web site design, platform and games set up, custom settings and possible individual features. The business owner may speed up the process of launch by providing regular feedback to all questions that designers and programmers might have. Any issue can be resolved if discussed in time.

Besides, the business owner shall timely address the issues discussed above:

• Obtaining a gaming license;
• Opening a corporate bank account and merchant account;
• Making agreements with payment system providers.

Setting legal and financial infrastructure is the task that only the business owner can accomplish. In SoftSwiss we provide consulting services (best options, contacts, etc.) on such points but we can’t guarantee success as the whole responsibility lies on the business owner. You will have to collect a bunch of documents for lawyers and banks like certified passport copy, utility bill copy, certificate of non-criminal records…

Step 3. Marketing

Cost To Start Online Casino Slot Machines

The secret of the most popular and successful online casino success and popularity is not about the top-notch design or billions of games included. The best online casinos are simply designed and contain 500 games on average at the beginning. The secret is in responsible marketing strategy implemented on all stages of the project. Online casino market is an extremely competitive one: first, it is very hard to break into it, and then it is even harder to take a firm stand. Thus, a company has only one chance to win the fierce race among competitors. Below is a list of points that are vital for any online casino that is planning to be prosperous.

• Positioning – Gather professional marketing team and develop strategic and tactical development phases, announce your goals (business, company, brand), and mission. Determine what niche you would like to step in, how you are different from the competitors, what unique features your casino has, and what steps you are going to make further.

Use only quality games from trusted game-providers. You can start your casino with a limited number of game providers, with focus on games based on HTML 5 technology. This technology allows users to enjoy rich graphics games and enhance the overall experience with playing casino games on mobile devices. At SoftSwiss, among our own high-quality HTML5 games we offer game content from the well-known providers, such as Amatic Industries, Microgaming, NetEnt, and we are sure about their quality.

• Prelaunch advertising campaign – Announce your casino, inspire your potential customers to wait for its launch; use all possible methods: online advertising, presentations, publications, etc.

• Online casino promotion after launch – Use SEO, online advertising, banner networks. Everything will work on such a competitive market.

• Client attraction and retention campaign – Establish an efficient support service or 24h call-center which your customers can address at any time. Take care of your clients by making navigation through the website: create “How to” sections or FAQs, write manuals on how to play the games, provide demo versions, make everything clear and understandable.
Develop a bonus system, make auctions and entertain and reward your customers all the time.
Remember! Only business owner can establish the right content on the page. The software provider should give you the possibility to work with the content, but not create the content.

•Implement affiliate networks – Develop contacts with partners which will be an impetus to online casino development.

Additional Step 4. Bitcoin casino

Forward looking online casino software providers offer Bitcoin as an alternative payment system for their solutions. Online casino owners all over the world appreciated such advantages of Bitcoin casino as significant savings on license application costs and monthly fees, increased customer loyalty, fast payment processing and many more.

As an acknowledged Bitcoin casino experts, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the crypto currency, research on the peculiarities of Bitcoin gambling, and learn how transactions work by making a couple of bets at an existing casino. Understanding the core of the payment system is essential in business, moreover it will help to build a strong marketing campaign and further manage the Bitcoin casino. Contact SoftSwiss for professional advice on Bitcoin casino launch.

Managing an online casino is hard work but with all legal and financial issues resolved in a timely manner, quality software chosen and a strong marketing strategy in place, it can be successful. The demand for online casinos will increase – specialists predict 40% growth of this market segment in the nearest year. Following all the steps described above will help a newly made online casino to develop sustainably and outweigh the competition. Good luck!

Also learn how to start an online casino with SoftSwiss.

Today it is quite challenging to find individuals who have never in their lives looking into the Internet. People spend on the Internet for several hours a day. So, why not take advantage of it and not make money on such a hobby. Sweepstakes Business in the gambling market is now a profitable business area that is in the spotlight all over the world now. Of course, the competition in this sector is enormous. However, if you correctly approach the solution to the problem, then the profit will be one hundred percent.

People love the excitement and, of course, they want to earn in the simplest way. Entrepreneurial dealers understand this, so they are aiming to create a sweepstakes business. İf you are interested in the gambling sector and probably and have little information on it will make you have several questions like where to start and what are requirements. Today most people are searching for answers regarding these questions.

Gambling business as a profitable business area

First of all, you must be an idea to build a business. When you say the idea, it does not mean any ordinary idea formed in the human brain. This idea should create a desire to work in you and to follow your dreams. The idea of having the business of sweepstakes attracts many individuals according to its profitability.

Because that in many countries the law prohibits stationary establishments, the gaming business has organically moved to the Internet. Yes, creating a business without investments will fail. But the cost of a virtual gambling club is much lower than on the ground. Below we will list what is necessary to do for your sweepstakes business:

Let’s take a look at the basic steps that should be taken after you decide to open a business online.

Choose a reliable software provider

This is the most critical decision that you have to make because you will enter into a long-term partnership agreement with an Internet cafe software provider. Get down to business and take the time to evaluate all the existing options in terms of the quality of the services offered and the price.

Software for your business is of paramount importance since it is thanks to it that all the functions work, including rotation of slot reels and roulette wheels, conducting transactions, and feedback with technical support. That is why the casino software should be of high quality and guarantee a clear and safe operation of your business. Trust software development is better for professionals who have experience and know all the subtleties of this business. You should not accept cheap offers, agreeing to install unverified products, because it can lead to errors, violations, and failures, and the online casino may not even open.

The online gambling market opportunities are endless, and it is equally exciting and rewarding. Since the gambling market is a lucrative business, the demand and interest in this business are quite high. The returns are so high and attractive. Those who want to be financially free will always play games. As the demand for it is high, the number of those who want to enter into the gambling business is increasing day by day.

You need the best sweepstakes supplier with a deep understanding of the online gaming industry and with extensive experience in running successful online casinos and internet cafes.

Get your licenses and permits

Creating an online casino business is not an easy task for entrepreneurs in our time, because they will have to face difficulties and regulatory requirements in various jurisdictions.

You must comply with the official restrictions for the necessary licenses and permits, as the business of sweepstakes are under state control. You can obtain the necessary licenses and permits by yourself, or you can get help from experts or consultants. Working with a consultant or expert will speed up the process and ensure the complete completion of applications.

Select a payment system provider

When you start an online business in the gambling market, you need to agree with a payment system provider so that you and your customers can conduct transactions quickly and easily. For convenience, it is desirable to provide players with several possible payment options.

We know that choosing the proficient software is not a simple process and has some requirements which we listed for you below and believe that will assist you in the selection process.

Choose a sweepstakes software supplier which can provide:

• the full package of services, including the processing of payment orders;
• interaction with all major electronic trading enterprises;
• multiple currency support;
• advanced risk management system;
• guarantee the possibility of detecting fraud

Careful monitoring of the selected market and selection of the best products along with simple payment mechanisms will improve the overall impression of the game and bring additional benefits to your business.

Develop your website design

The appearance of the casino website is very important. You should choose an attractive design for clients or invest in your input interface because it will become one of the most important aspects for players when they choose from dozens or hundreds of similar websites for betting.

Working with an experienced and professional staff

Let’s imagine that you have opened your gambling business and gradually started to win customers. Are you sure that you will overcome doing all the operations and things when you are alone? The most important factor you need is to create your frame. There is a need for a professional employee group that can:

• carry out financial transactions
• customer representatives
• and advertising sections in your company.

Cost To Start Online Casino Slots

Ensure the implementation of marketing strategy

Marketing strategy is the last step. When your gambling business is fully ready to launch, it will be necessary to develop an effective marketing strategy and to establish an effective membership system that will adhere to the website and increase traffic. Deliver loyalty programs, create bonus systems and customer protection campaigns that will motivate your players to come again, to gain a new audience, and always satisfy your loyal visitors. Of course, you will have many competitors who are engaged in the business of sweepstakes. Investigate them carefully and identify their best and weakest features.

All in all, establishing a business in the sweepstakes seems to require mastery, because this is necessary.

In conclusion

The realities of today force us to use various types of Internet services constantly. It is not always possible to use them in the same way. So, opening a sweepstakes business is quite a good solution for today. To open this type of business is a challenging task. People can do a lot of things from where they are now sitting thanks to the sweepstakes in the gambling sector. Sweepstakes are a huge sector in the virtual world. To set up this business requires a high amount of financial assistant and utmost effort. If you want to establish such a business on the Internet and start operating, it may be useful to follow the above-mentioned steps. Don’t ignore the requirements. The future of your business settings depends on it.

Riversweeps Platinum

Riversweeps Platinum is an LA-based online casino software and game developer. The brand provides customers with four types of software products. Those are online casinos, sweepstakes, internet cafes, and bitcoin casino software. Besides them, Riversweeps Platinum builds interactive casino games such as online slots, keno, fish games and more. If you want to start your sweepstakes business, you can contact us so that we can evaluate your case and help you to get to the industry.

How To Start A Casino