Nowadays online casino is a profitable business and has won the status of the most attractive type of e-commerce throughout the world. The enterprise has turned out to be one of the leading internet businesses in the world today that offers maximum profit over a relatively short period of time. However, you can come on board into the market either as an iGaming casino operator or as an online casino affiliate.
If you wish you to kick-start your online casino business as an iGaming casino operator, the costs of starting the business are much higher, and the laws and licensing are vast as well, but the casino business eventually yields great profits as soon as it gets accepted by casino customers in the gaming market.
The business is very profitable and lucrative. But for you to start an online casino business that is successful and outstanding in the shortest time frame, you have to build your business around customers’ pleasure and satisfaction. With this in mind, you have to invest a lot of dedication and an enormous amount of work into your enterprise for it to achieve the expected success.
Our lawyers know that the stumbling block in the whole process is a lack of understanding of the laws. You run a global business process, so the first thing you need to do is to seek legal advice. You must be sure not to violate international rules and local laws related to the conduct of gambling.
Below are the stepwise instructions as highlighted by Szilaghi Consulting on how you can start your online casino business.
Aspect # 1: Determine the best jurisdiction to launch your project.
The legal framework is different from country to country and the licensing process can be a hassle. The regulated market involves a handful of countries where there are predefined gambling requirements.
The countries can be divided into the following categories:
- Countries governing their markets
- Countries governing their markets and having a monopoly
- Countries where gambling is prohibited
- Countries that do not regulate their market
- Create the online casino website
- Concentrate on marketing and promotion activities
The most popular gambling jurisdictions are Antigua, Belize, Costa Rica, Curacao, Malta, Panama, United Kingdom, Alderney, Isle of Man, and Gibraltar. The determinant factors for selecting a jurisdiction are the reputation, license duration, and the price of the license.
| Country | Term | Annual Maintenance | Amount |
| Antigua | 3 months | Yes | 200,000 Eur |
| Belize | 2 months | Yes | 60,000 Eur |
| Costa Rica | 1 month | Yes | 10,000 Eur |
| Curacao | 1 month | Yes | 35,000 Eur |
| Malta | 3 months | Yes | 10,000 Eur |
| Panama | 2 months | Yes | 100,000 Eur |
Undoubtedly, the best options for today are Malta, Curacao, and Costa Rica. Szilaghi Consulting is ready to assist you with filling the licensing documentation and help you start operating your casino as soon as possible.
Obtaining a license together with the company registration takes 1 month and the cost of maintenance is significantly different from other jurisdictions.
Aspect # 2: Define the target market and the types of games. Determine the location of servers.
Decide on which countries your customers are. This information will be required to connect a merchant account to the site.
Hosting locations is a very important aspect for business security. Think about where to place the server.
Work with the most popular gaming platforms: Evolution Gaming, NetEnt, Microgaming, BetGames.tv, SpotOptio, BetRadar, and others.
Examine the terms of cooperation and decide with whom to work.
Aspect # 3: Identify the corporate structure, namely the jurisdiction and management of the company.
Decide on who will be the shareholder or shareholders in your company, what are the share proportions, who will manage the company (select the director). Do not forget about the possibility of using the nominee service.
Director is most commonly chosen as a nominal person.
Aspect # 4: Get a license to operate.
An important step is to obtain a legal license.
Once you have decided on the jurisdiction, the first step towards obtaining a license is the registration of a local company. The application for a license must be submitted by a registered local company.
We offer 3 of the best options of jurisdictions to obtain a gaming license: license of Malta, Curacao, and Costa Rica. Licenses of these jurisdictions are completely suitable for casino games, for bookmakers, lotteries and bingo.
Aspect # 5: Integration payment options.
Online casino is by all means an international pursuit, no wonder it should comprise international commercial transactions: both sending and receiving international payments.
A mandatory stage for starting gambling business is to open a bank account. Online casino gambling, the lottery are the activities of the high risk.
Double check if your casino supports integration with major e-payment systems, otherwise players won’t be able to deposit funds or withdraw their winnings. Ignoring traditional payment methods which employ credit cards and vouchers is a disastrous business practice that can put your reputation at risk. Securing verified payment methods for your online casino, you should sign multiple agreements with payment system providers committed to transaction security.
Szilaghi Consulting has extensive working experience with merchant service providers who process high-risk sites, including sites with online casino operations. Therefore, we will help you to connect merchant account for making payments online. More detailed conditions we are discussing during personal meeting or on Skype.
Aspect # 6: Go FORWARD!
Finally! This is moment you’ve been waiting for! The website is finished, the structure is ready as well and you have the entire necessary legal basis.
Marketing is a final step. You will develop an effective marketing strategy and set up an effective affiliate system that surely enables website engagement and increases traffic. In order to win over a new audience and keep loyal visitors satisfied at all time, introduce loyalty programs, set up bonus systems and retention campaigns to motivate your players’ return. Explore competitors, identify their mistakes and try to avoid them in the activity of your own platform. All in all, starting a gambling business seems tricky, simply because it is so.
Good luck!
In addition, through our partners we can offer the following:
- Creation of online casinos and betting sites.
- Mobile applications and versions of all products.
- Creation of sites of binary options brokers.
