The Exponential Growth of Online Casinos
The online casino industry is believed to have begun in 1994 when the Island Nations of Antigua & Barbuda passed the Free Trade & Processing Act, under which licenses could be granted to companies wanting to provide gaming services online.
Since its humble beginnings, the online casino industry has grown exponentially and now is believed to be worth upwards of $ 450 Billion, with steady growth still being projected by observers.
The rising popularity of online casinos is not a sudden or unforeseen phenomenon just like the Review of the Online Casinos. Through the below-mentioned pointers, you would be able to understand the reasons behind its growth and popularity: –
● Anytime, Anywhere – Play your favorite games at a place and time of your choosing. Missing the monthly Vegas trip has never been more fun!
● High-End 3D graphics combined with immersive gameplay does provide the same thrill to the player right from his couch
● Various one-time joining bonuses offered by online casinos act as add-ons for the discerning gamer
The Stepping stones to get started
Below we will discuss the steps through which you can create your own Online Casino Website
1. Choose your Gaming Provider: – The Gaming provider you choose for your website will provide you with 2 important components, the Casino Software, and the Games.
The Casino Software is the backbone of your website, as it helps you manage your entire operational activity such as account management, payment processing, fraud management and marketing campaigns. Once you establish a robust management system to take care of things at the back-end, you need to choose the Games to be featured on your website, as these will form the major attractions and draw players in.
2. Obtaining a Casino License: – As an Online Casino operator, you will run into regulatory requirements when you are going to start your business. Thus you need to obtain a gambling license according to the jurisdiction you want to cater to.
Countries such as Curacao or Costa Rica are one of the cheapest places to obtain a license in, with the yearly fee being around 20,000 EU. Places like UK, Malta or Romania, however, can set you back by up to 150,000 EUR per year. While choosing the jurisdiction, you must keep in mind its reputation, the licensing requirements and the extent taxes applicable.
3. Setup your Payment Method: – With a good online casino, players want a seamless and well-integrated payment solution to set up their bets and redeem prize money. A robust payment system should have the following qualities –
● Multi-currency support to attract players from untapped markets
● Integration with all major e-merchants and e-wallets to facilitate smooth transactions
● Support for multiple payment solutions such as Credit and Debit cards
● Advanced risk management and fraud detection systems to ensure that the player and the house are safe
4. Website Design: – The design of your website should be such that it attracts prospective players and intrigues them to explore more. In terms of website design, the following are the Dos and Don’ts which need to be followed.
The “Do’s” while Building an Online Casino
1. Seamlessly integrate different sections and pages on your website
2. Make sure sufficient information is provided at all necessary points
3. Ensure that the website content is drawn up by an expert who knows Search Engine Optimization so as to draw players from search engine results
4. Ensure support for multiple languages based on the market you are catering to.
5. Put in place a Google Adwords campaign that helps draw newer customers to your website
The “Don’ts” while Building an Online Casino
1. Clutter your site with unnecessary graphics which slow your site and make navigation cumbersome
2. Put up excessive advertisements which result in long loading times for games
How to Onboard New Players
Now that you have learned about the basic necessities of building your website, we will move forward to how you can promote and popularize your website.
● Market your website – Just having quality games and a sound technical build is not enough if there are not enough players to get into the thick of the things. You need an efficient marketing strategy to draw players in. Launching new games every now and then, building up a little suspense before the launch and providing content based on current market favorites will help you with efficient marketing
● Loyalty Programs & Promotions – Reward your customer for being loyal to you and he will keep coming back. Popular loyalty programs today include Signup Bonuses, Deposit Bonuses, Free Bets etc. These ensure that the customer feels that they are getting a better worth of their money and time on your website.
Promotions for seasonal events such as the NFL, Christmas makes sure the content on your website does not get old and boring for the average user. Above and over this, there is a need to introduce a VIP program for the high-value players so that they feel special for the money and time they invest on your website.
Challenges & Opportunities
The online casino industry is in a highly competitive state presently. With a number of players entering the market every day, you need to be one step ahead of the competition and bring customers in to sustain profitability. Moreover, as your website gets popular, it also attracts the attention of potential hackers who will try to breach your firewalls.
For any new player entering this segment, these challenges need to be tackled head on by keeping the content at a higher standard and ensuring foolproof backend optimization. A well-designed website with a careful selection of popular games can quickly skyrocket your online casino into a crowd favorite.