• Jul 06, 2021 Starting a casino will always be expensive, regardless of how you set yours up. As previously mentioned, cash-on-hand requirements alone will often be more than $20 million. You will also need to buy equipment, land, build your casino, and purchase a gambling license, all of which can be very expensive.
• Offering things like welcome bonuses is another good incentive for people to sign up for your casino. A Google Adwords campaign is a cost-effective way to advertise your casino online. Paying an SEO expert to optimize your site and help it show up in search results is another great strategy.

Create your online password The first step toward enjoying this secure, on-line feature is to sign up for your FREE Resorts Casino STAR Card today at the Promotions Booth located on the casino floor. Then come back to this page of our website with your new card to set up your RESORTS Casino player account online and new online password. Understanding How To Operate A Successful Online Turnkey Casino In today’s society that lives online, who doesn’t desire to become an online casino owner since this will bring in the big bucks? However, the desire to run a casino often is mismatched by a lack of skills and resources to set up as well as market a turnkey casino the right way.

Online gambling has always been one of the most lucrative and desirable areas to explore for business owners regardless 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.

Step 1. Preparation

a) Legal issues

Online gambling is 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 its 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 solution 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 that 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

The 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 competitor’s 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 that 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 adopting the best practices of promotion, advertising, and brand development.

If a company starting an online casino is operating a 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 setup in order to provide future users with a 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 an 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 website 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

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. The 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 a 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 a focus on games based on HTML 5 technology. This technology allows users to enjoy rich graphics games and enhance the overall experience of playing casino games on mobile devices. At SoftSwiss, among our own high-quality HTML5 games we offer game content from 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 in 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 owners 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 expert, SoftSwiss would like to recommend all potential Bitcoin casino owners to get a clear understanding of the cryptocurrency, research 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.

Regulation and Legislation

The Isle of Man Government fully supports the growth of the online gambling sector on the Isle of Man and there is a team within the department of Trade and Industry (DTI) who are responsible for providing hands-on support to companies and individuals wanting to conduct online gambling business.

Not all gaming business activities require a license in the Isle of Man. Activities such as marketing, software, and skill games for example can be hosted or carried out without any need for an OGRA license. Indeed, companies can be registered and have head office facilities in the Isle of Man while licensing elsewhere.

The Gambling Supervision Commission (GSC) is the body responsible for regulating those gaming operators who require a license in the Isle of Man. The online Gambling Regulation Act in 2001 is the primary legislation and can be found with all the secondary legislation at www.gov.im/gambling along with useful guidance notes on making an application.

It is advisable in any case to contact the DTI or GSC for further guidance on whether or not your business needs a license and how to complete the licensing process.

In the Isle of Man one license covers all activity from sportsbook, poker, casino, bingo, lotteries to running network gaming. The exception is where a sub-license can be issued for those operations that are exclusively tied to an Isle of Man based network.

Licensing Procedures

Basic Requirements
Basic requirements for securing an online gambling license on the Isle of Man are as follows:

• The business is carried out by an Isle of Man incorporated company;
• The servers, where the bets are struck are hosted in the Isle of Man;
• Banking of both operational and player funds in carried in the Isle of Man;
• The business has a minimum of two company directors resident in the Isle of Man.

In most cases a local solicitor or a corporate service provider can facilitate the bank account, company formation and appropriate resident director and there are four data-hosting centers all of which can be contacted through the DTI.

Required Fees and Taxation
There is an initial non-refundable application fee of £1,000 for an OGRA license. Application forms can be found at www.gov.im/gambling/applicationforms.

Once the license is granted the license fee is payable to the Isle of Man Government. This is a £35,000 per annum for a full license or £5,000 per annum for a sub-license.

All New Casinos Usa Welcome

Gaming tax is payable by licensed online gambling business operator on gross gaming profit at the following rates:

• For gross gaming yield not exceeding £20 million per annum the rate is 1.5%.
• For gross gaming yield of more than £20 million per annum but not exceeding £40 million per annum the rate is 0.5%.
• For gross gaming yield of more than £40 million per annum the rate is 0.1%.

These rates apply equally to all operators and in respect of all bets, wagers, etc. wherever the player is located.

How To Run A Casino

Time Scales of License Obtaining
A fill and complete application will usually be put before the GSC for consideration within 10 weeks of submission. Representatives of the company will be required to present the application in person. Following the hearing the GSC will advise the outcome in a written response.

Setting Up An Online Casino Uk

License Application Preparation
Although a business can prepare a license application itself, it is often easier and quicker to employ the services of an experienced local solicitor or Corporate Service Provider (CSP). The DTI can provide a full list of professionals experienced in preparing igaming license applications and working with the gambling industry. In either case, it is useful to refer to the Guidance notes available on www.gov.im/gambling and make contact with the DTI who can assist you with establishing in the Isle of Man.