Several Steps That Will Help to Launch an Online Casino: Recommendations from SoftSwiss
Gambling license acquisition, setting up of a corporate bank and trading account, conclusion of contracts with payment system suppliers, arrangement of legal and financial infrastructure are the tasks that the online casino owner has to solve in order to establish an online casino.
What else should one take into consideration before opening a virtual gambling facility? This article presents an algorithm of actions offered for beginning market players by SoftSwiss.
SoftSwiss is one of the acknowledged leaders in the information technologies market and iGaming services. Founded in 2008, the company started from the developments in the fields of banking, finances, and retail (this is where Swiss comes from – a hint of Switzerland and its reliable banks). Currently, SoftSwiss is a supplier of white label solutions for online casinos and betting houses.
1. Solution of legal issues:
licensing and incorporation
Online gambling activity has to be licensed, so owners should think about the choice of a jurisdiction and license acquisition. Two options are available here: offshore and EU countries. Both options have their pros and cons – budget, timeframes, reputation. Usually, gambling license acquisition takes from several months to a year. For example, the process takes 6 months in Malta.
The next step after the choice of the jurisdiction is the incorporation as a gambling company, opening of a bank account, and conclusion of agreements with payment system providers that will ensure complete legal and financial infrastructure.
The alternative way is the white label solution that implies the rent of software together with the gambling license and financial infrastructure from the software supplier. In such a way, the casino is managed under the brand of the casino owner but with the readymade infrastructure. Such a scheme eliminates the necessity to solve many legal and banking problems but bears extra expenditures.
2. Search for software developer
and gambling provider
When all legal issues are solved, the casino owner should choose a software provider. During the search, a good idea is to rely on the quality-to-price ratio.
Apart from the eye-catching design and selection of popular games, a high-quality product should also provide a reliable gambling platform that allows efficiently managing the casino business and includes the following components:
- game management system;
- system of managing bonuses and special offers;
- payment system management;
- cashier system;
- report engine;
- support of regular updates;
- hosting and technical support.
Special attention should be paid to the quality of games.
“Use only high-quality games from trusted gambling providers. For a start, you can open a casino with a limited number of slots, focusing on HTML5 games, as this technology improves the overall impression of games on mobile devices,” advises SoftSwiss.
The company distinguishes Amatic Industries, Microgaming, and NetEnt among worthy gambling content suppliers.
3. Conduct of marketing planning
Efficient marketing strategy is a key to the success of the online casino. Therefore, making a comparative analysis of competitors is strategically important at the initial stage (competitive intelligence or benchmarking). Primarily, this will help the owner to assess the complete picture of the market: who are the leaders, what strategies they use, what returns on investments they get, etc. This data allows creating a unique offering.
The next step is to contact digital companies that specialize in gambling promotion such as SEO agencies, email marketing companies, media that make casino reviews, etc. This will help to define the best offers in the market and choose correct partners before the website is ready for launch.
At this stage, it is also important to think about the future bonus policy, affiliate marketing strategy, and check whether the chosen software provides corresponding technical capabilities.