Beginning an online gambling site is a way to make a great amount of money over a short period of time, thanks to this highly profitable industry. However, you should not expect profits to begin rolling in just because you’ve been able to set up your gambling site. To profit within this industry, there are steps that must be carefully followed, from knowing the game providers to use to using a profitable marketing strategy.
How to start an online gambling website?
Choose a software provider
Knowing the sort of games you wish to offer and selecting the game providers is the first factor you should have in mind. This will, in turn, determine the level of patronage you’ll get. You should be patient in analyzing all available options, as you must consider the quality of these services as well as the prices. You want to select a gaming provider that deeply understands how online gaming works.
You should search for easily customizable software where you can have a hand in the total process right from the design of the games to launching them. Some of the major features you should pay attention to when selecting a provider include a recognized licence, access to a wide variety of the best games across the world, a payment system with multiple currencies, a front-end which can be customized to your taste, responsive customer support, and a progressive gaming management system.
Get a licence
Most countries have their own separate legal frameworks on gambling activities, so getting a licence has to be in accordance with what the law says. As an online gambling site, you need to apply for the required license in the country which you desire to operate from. The whole process of acquiring your licence could be quite lengthy and can even extend up to a year.
As regards legal frameworks, countries can be grouped into:
- Those who regulate online gambling in their territories;
- Those who solely regulate and have monopolized the industry;
- Those which have outrightly prohibited betting activities within their territory;
- Those without any regulations on gambling activities;
Most online gambling sites acquire their licences from Alderney, Curacao, Gibraltar, Isle of Man, Malta and the United Kingdom. If you wish to begin your online gambling site in India, you can acquire any of these trusted licenses.
If you, for example, wish to hold a gaming license from the UK, the application fee will be £2,640 to £57,304, depending on your gross income.
Choose secure payment methods
As an online gambling site, you need to enter an agreement with secure payment systems that entail a complete range of services, processing of payments, integration with a large variety of e-merchants, multi-currency support, advanced risk management as well as fraud detection.
You should ensure the systems are not just safe and secure but there should also be a variety of payment systems for easy deposits and withdrawals. It is advisable to use multiple systems so players are not limited and can use their preferred methods. For instance, Indian players try as much as possible to avoid casino transactions from their Indian bank accounts and prefer online E-wallets like Skrill.
Create a website
This is obvious. As an online gambling site, you must create a website. However, what separates you from others is the sort of website you create. You need to create an attractive website that allows for easy navigation and permits for a very user-friendly experience.
Instead of starting the website from scratch you can choose a white-label website. You will pay a small upfront fee and a percentage of your income and the website will be delivered to you complete, with all games, payment solutions, etc. All you have to do is to market your website.
This is the final step. A good product without proper marketing will fail to reach its maximum potential. You’ll need an effective marketing and an efficacious affiliate system which ensures there’s frequent engagement and brings constant traffic to your site.
In fact, affiliate marketing is one of the most profitable marketing channels for many gambling sites as you don’t need to pay any money upfront. Instead, you can choose to pay a percentage of each deposit that the players make on your site. All you need to do is to build a network with affiliate sites. There are many casino affiliate sites in India such as onlinecasinoguide.in which redirects new customers to your site through promotions.
How much will it cost?
In all, you’ll incur quite some expenses. The majority of these will be spent on activities before the launching of your site such as acquiring software providers, getting a licence as well as your strategies for marketing. Upon a successful set-up, the other expenses are more of recurrent expenditure which includes payment of wages to personnel, renewal of licences, royalties amongst others. However, with income gotten from visitors, these expenses can be planned and well taken care of.