How to open online casino?
GBO has twelve years experience helping investors apply for online gambling licenses so they can set up extremely profitable offshore gambling operations. With our assistance in establishing your online gambling license application, you will achieve the quickest path to your destination, at the most reasonable possible cost.
GBO has been advising investors on the best way to set up online gambling operations for more than 12 years. We have the knowledge and experience of what it takes to license and set up gaming websites at the most advantageous cost and fastest times.
We can help you obtain your Curacao Gaming License, please contact us
There are many different steps and procedures required to set up a fully functional gaming website. It’s essential to have a proper online gaming business plan ready before you make your first move. Any missed steps or errors can bring the whole structure down, leading to substantial waste of effort and investment.
A short list of the steps is:
- formation of the required company that holds a gambling license in the chosen jurisdiction
- obtaining a gaming licensing
- setting up bank accounts for your company operation
- setting up payment processing solutions to handle the website money features like player deposits
- establishing a functional software platform on a website.
Each one of these steps requires knowledge of the rules and regulations that apply specifically in the selected jurisdiction in which the online gaming operation will be based. It is essential to have a complete plan that takes every possibility into account so that surprises and blockages are avoided.
Online gaming business plan
Step 1 – Company formation
Each jurisdiction requires that the operation of an online casino must be undertaken by a locally-resident company. In most cases, this also requires at least one locally-resident director or nominee. The registration of a new company normally takes 1-2 months, but with our special knowledge and experience, it can be achieved in just 1-2 weeks in some of the better jurisdictions.
Step 2 – Acquire a license
There are two possibilities. Most of the jurisdictions have tight regulations on licencing and have set up control boards that supervise the whole process of application, validation and issue. This will mean a long and relatively expensive process.
In the case of Curacao, the gaming Control Board does not itself issue any licenses. Instead, the few companies that already own master licenses are allowed to sell sub-licenses that operate under the same conditions as the master license. The only step required after purchasing a Curacao sub-license is to get the approval of the control board, which normally takes just a few weeks.
Step 3 – Set up bank accounts
This has been one of the most difficult phases faced by new online gaming companies. Traditional banks regard gaming as a high-risk business, and either reject any account applications, or set extremely high barriers. GBO has been working for many years with several banks whose good experience with our customers has created a higher degree of trust. With our help, it will be possible to establish the necessary banking infrastructure within a few days.
Step 4 – Set up payment processing infrastructure
All online businesses need a payment service provider (PSP) so that they can accept secure electronic payments of various kinds from customers. Receiving a deposit into a gaming account is more complex than for other online businesses, because of the lower level of trust that traditional banks have for this industry.
Finding the providers that best meet your business requirements as an online gaming operator requires special knowledge. They need to give your business a single payment gateway through which you can accept electronic payments by multiple payment methods. This is especially needed for businesses that are regarded as high-risk by legacy banks.
With a good PSP, your online business can receive payments via bank transfer, credit card, e-wallets etc. The PSP allows these electronic payments to be made swiftly, easily and conveniently by your players.
Let us work with you to establish all of the payment services that will enable free and uncomplicated movement of funds into and out of the online website.
Step 5 – Setup the system
The three most important steps here are to register a domain with a recognizable and “catchy” name. After that, if your plan is to set up your own computer systems for the gaming website and for back-office processing, then you must take into consideration the volume of expected traffic, the need of fall-back strategies in case of any hardware or connectivity failures, and either the acquisition or building of the necessary software.
The quality of your website and the user experience it offers will depend largely on your software. Ensure that your software provider has experience with online casinos; offers customization software; supports multiple payment options and has an advanced gaming management system.
Alternatively, there are several great “white label” solution providers that offer out-of-the-box answers. With white label solutions, the site is already built and requires only your brand name and a “look-and-feel” design according to your preferences. A white label solution should provide your players with an easy-to-navigate and user-friendly interface with intuitive controls. Some casino software packages come with built-in payment methods.
As well, consider what options the software offers players – live games, mobile games, multi-players etc. Making your gaming website mobile-friendly is essential in this day and age.
Step 6 – Promotion and marketing
Marketing and promotion is the key to success in any business, and especially so in the highly competitive world of online gambling. Throughout the planning of the business, you need to have a clear idea of who your players are, where they are coming from, and which games they will want to play. You will need to make your website stand out above the opposition, and this is done by marketing.
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GBO is a market-leading Curacao Gaming license services provider
How do I start an online gaming business?
The first requirement is for a clear business plan, with objectives that define your target markets along with your clear budget plan for how you are going to finance it. Operating an online gambling site can be super-profitable, but getting it up and running can take quite a long time, and it needs to be funded properly from the very beginning, otherwise it is almost certainly going to fail.
Unless you already have heaps of experience in this field, or very deep pockets, the best thing you can do is to engage with experts like GBO, which have been working in many jurisdictions for over twelve years, and have hundreds of satisfied customers.
How much does it cost to start an online casino?
The steps you need to take each have their own costs, and they can be different depending on the country where you are setting up the operation, and whether you are going to develop your own gaming system, or rent a “white label” site which provides all of the necessary services for a monthly fee. In general, even in the cheapest jurisdiction, the setup costs can amount to a quarter of a million dollars before any revenue starts to flow.
How do I start my own online casino business?
Getting started means you have to follow the rules and regulations for the country in which your casino is going to be based. The essential steps are:
- Register a local company to run the casino
- Purchase a license
- Setup or rent the gaming system
- Start promotion and marketing to your target market
- Setup banking and payment processing accounts so that players can deposit money into their gaming accounts
How to open an online casino?
Online casinos must be based in countries that allow for gambling via the internet. Most of these countries require you to obtain a license, to set up a corporate structure with locally resident directors, banks and to establish the gaming system inside their jurisdiction. The most important thing after the license is to have a fully functional gaming system that allows players to access your website 24/7 both from computers and mobiles.
Players will want to use digital accounts like e-wallets, Paypal and so on, so you need to have proper payment processing accounts linked into the gaming system.