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Links to these companies have been placed in the Resources section for your convenience. Determine what payment mechanisms your casino will offer.
This is an essential part of your business, because it is how customers place money into the account at your casino, as well as how they will be paid if they win.
Most transactions, however, are made through alternative payment methods, such as click2pay. Develop an advertising strategy to let people know about your online casino.
When you were writing the business plan in Step 1, you should have included a budget for advertising campaigns.
Find advertising mediums that work within your budget, such as print advertising, television, radio and online advertising. Try to make affiliate advertising a cornerstone of your advertising efforts.
Referral affiliates will place ads for your casino on their own websites, being paid a commission on any revenue they generate.
Since they are only paid a commission, it is essentially risk free advertising for your business. The main ones are that these tend to be smaller companies without the broad range of games that are needed to compete in an ever more competitive market, and you'll be responsible for all of the upkeep yourself.
The second method — and the one used by all the major companies — is a monthly licensing fee for the software, plus a percentage of the profits you make on top.
Given the costs, choosing which provider to go with is obviously a decision you do not make overnight, and there are several key considerations to work through.
The range and quality of games on offer are obviously of paramount importance so you'll want to spend a considerable amount of time going through what's on offer.
You'll also want to factor in which jurisdictions they support and other aspects of the license such as whether they support tie-ins with land-based casinos and what type of customer support is bundled in.
Regardless of which option you go for, you'll have to be prepared to invest a significant amount of money but it is still very much worth breaking down the differences between various providers to make sure you're getting the best possible value.
The next decision you face concerns payment infrastructure. PayPal is probably the most widely known and accepted e-wallet provider but firms such as Neteller and Skrill are becoming increasingly popular.
The traditional option of wire transfer is also still very much available. Having as many payment options available as possible on your casino site is obviously the best option to attract customers.
Be aware that there will be fees associated with all of these payments. In terms of merchant services, credit and debit cards attract high fees but are ubiquitous, and offer security for both casino and customer.
Neteller and Skrill offer a similar service to PayPal and have become a preferred payment solution for many customers. You'll still want to accommodate the major providers such as PayPal and credit cards simply because their presence acts as a trust signal in its own right.
Not having these options on offer can actually harm your overall credibility. When it comes to offering wire transfer, you'll need to factor in that these transactions take longer to process, though the associated fees are much lower.
It's a potentially very useful option if you're, for example, focusing your casino on the Asian market where options such as e-wallets may not be as widely available due to geographical restrictions.
The final option to consider for payments are prepaid cards. This is a relatively new class of payment options where companies such as PaySafe are leading the way and making increasing inroads into the market.
They're a very convenient option for certain classes of customers so you should consider offering them as an additional payment method on your casino site.
For legal reasons, your casino needs to be licensed. There are two main types of online casino jurisdiction for you to choose from: As a budding online casino operator, your first licensing decision is to decide which jurisdiction you wish to operate under.
This is an important choice and there are numerous factors involved that you'll need to consider in terms of how your casino runs, your profitability, and the startup costs you face.
You'll find different rules associated with what you can offer and to whom when it comes to licensing. For instance, some jurisdictions will expressly forbid allowing residents of the United States to gamble at casinos under their regulations, whilst others do not offer any restrictions at all.
Tax is another aspect to consider, some offer tax free status to the offshore entity that runs the casino, where others do not.
The cost of the license and amount of bureaucracy involved can also vary widely between countries. The final point to bear in mind and one that many prospective owners foolishly ignore is perception — what does the location say about your casino?
Casinos based in Gibraltar or the Isle of Man, for example, carry an association of reliability and security due to the tight controls over operational and fiscal activities that are in place there.
All of the factors we've mentioned above can make a significant difference to the feasibility and day-to-day operation of your online casino so you should be sure to carry out thorough research before committing to a particular decision.
Also bear in mind that the licensing process itself can take a considerable amount of time, anywhere from two months to a year depending on your choice of location.
In Malta, for instance, it usually takes six months for an application to be finalised and a license issued. The costs of licensing begin at the application stage where the majority of options come with a large advisory and legal bill attached.
The amounts here can vary and will depend on your history and the complexity of your casino operation. You'll then also need to factor in the cost of your equipment and other expenses such as web hosting.
As with all of our points, you'll need to do extensive research as the cost variations you'll find are large. You'll also need to set up a company in the jurisdiction of the licensing authority.
Options available here vary considerably. Some territories require at least one resident of the country to hold a position amongst the management, others require a set number of employees, and others still have no restrictions at all.
Based on the requirements online, we will provide you with casino proposal outlining the final price of bringing a gambling website to market, along with estimated start time.
You will be start one of our software packages online any necessary upgrades additional or services, such as operational casino management and marketing strategy consulting.
At this stage our aim is honesty casino transparent approach to pricing. A formal casino is signed specifying our scope online work. You casino assigned start personal Account Manager wholl be your main point of contact.
We install our online functional software package and develop a casino website based on your specific requirements. You can rely on our team for professional assistance in this area as well.
If you are planning to start an online casino business, we are ready to provide full-scale professional assistance. How to Start an Online Casino?
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