If you’re looking for new ways to diversify your business, starting an online casino might be a good solution. That, however, requires a lot of effort and multiple steps done by a dedicated team of experts with a batch of specialties, the perseverance of the business owner, and investments before the venue starts to recoup itself. In this article, we’re diving into the details of that process. 

Introduction

Why launching a new gaming venue is a good idea in the first place? Well, because of the profits and market size. Let’s look at some market stats and trends-2024:

  1. By the end of 2024, the global volume of revenue of the iGaming business is expected to reach $92-100 billion (rising from $85 B in 2023). This number will be even greater in 2028: $138 B (with around 5-6% annual growths on average). Although online casino games do take a significant share of the market revenue, the biggest global pie share, around 55%, belongs to sports betting (and the biggest annual growth is shown by it, too).
  2. The number of people engaged in gambling on the Internet has increased by 50% through 8 last years: from 76 million in 2017 to 100 million in 2024 and it is projected to grow to 130 million in 2029.
  3. On average, 1.6% of the global population will play gambling games by 2030. This number is the highest in Canada in 2024 (36%).
  4. Through the 2020s, an average gambler/bettor brings around $1,000 in revenue per year.
  5. The most popular kinds of games are instant play games, crash, and video slots.
  6. VR and AR (although promising technologies) are not being integrated en masse into the processes of gaming parlors, remaining rather a nice shtick to have, not a trend.
  7. Social integration and gamification increase. They engage punters more with things like systems of rewards and achievements, tournaments, leaderboards, levels, virtual gifts, and customizable experiences.
  8. The global legal iGambling landscape is still patched, with significant differences existing among countries, where many of them still have not incorporated the legal field of functioning of betting and gambling, which makes them dwindle or wobble in these markets.
  9. Anjouan, Timor-Leste, and Tobique have recently joined the club of self-ruling and/or offshore iGambling jurisdictions, where operators can now get iGambling licenses.
  10. By the end of 2024, in Brazil, a bill regulating online betting and gambling is expected to be passed and take full power for the first time in this country. This includes Brazil in the cohort of global players in this arena. 
  11. Top-5 biggest countries, generating more income on the iGambling market than everyone else in 2024, are the US, the UK, Canada, Germany, and Italy. 

With all that in mind, it is definitely a promising kind of business. And to make it start smoothly and correctly, it is of ultimate importance to choose the correct expert company (software provider) that will implement a project of launching a new online gambling establishment. BoomAff is exactly such a provider, with several kinds of projects to offer in this area.

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Overview of BoomAff’s casino software solutions and expertise

The list of services offered by BoomAff in the area of the implementation of new online gaming clubs includes:

  • Turnkey solution
  • White-label solution
  • Bitcoin venue
  • Custom-made gaming parlor
  • White-label sportsbook
  • Ready-made gambling establishments.

Additionally, all venues need ongoing support after they’re launched, such as regular and affiliate marketing, off-house customer support, integrating more iGambling games in the catalog, SEO and emailing processes, and picking the sound domain name. BoomAff does all these and other auxiliary services. We have already helped dozens of satisfied clients step their feet into this business area and supported their development according to their business models. 

For more information about how we help in the opening of a new house of gambling, contact us, and let’s begin with studying your needs. 

Market Research and Planning

You should start an online casino with market research and planning the list of activities based on the opportunities you find.

Market research includes these steps:

  1. Analysis of the target audience to build its geolocation, social, and financial profile.
  2. Analysis of competitors to find out their weaknesses and strengths, what they offer in the game catalogs, gaming opportunities, how they market themselves, and what shares in the market they take.
  3. What’s the legal and regulative field? What are the opportunities, limitations, licensing, taxation, and other demands to online gambling establishments in the area?
  4. What is the market itself in this geo and sub-geo? How does it grow, what are the uncovered possibilities and client demands, if any? What are its trends and threats?
  5. Analyze the popular gambling platforms and approaches to using devices by the audiences. This would also include technical analysis, such as cybersecurity measures, software providers, payment gateways, mobile compatibility, and the possibility of making a mobile app to be placed in Google’s and Apple’s catalogs of apps. 
  6. What are popular payment methods in the geo and their restrictions? How payments are processed and how are they limited?
  7. Risk assessment.

Based on that, a business owner with their team of change managers must make an action plan that will describe in detail how to start an online casino. That will be the most important document in the process of launching and running the house of gambling, which will shape not only the process of initial developments but also years and years of its future operation and all the budgets necessary for everything. That’s why it is required to attract to the elaboration of this document all interested and involved parties, including the management of the venue and stakeholders. 

  1. Elaborate on the strategies and approaches to attracting audiences to the newly launched gambling establishment, across all channels available.
  2. Make a decision on how exactly the gambling platform will be created: from scratch, turnkey, white-label, out of the box, or some mix of these. That’s the budget expenditure core, which affects not only the money spent per se but also the technological infrastructure setup and development. Thus, it has to be thoroughly discussed and considered, in alignment with the business model of the mother company.
  3. Plan the actions of obtaining an iGambling license and registering a new company with the purpose of running the official business in the selected geo, where taxes are to be paid, bank accounts are to be opened and operated, procurements to be made, personnel wages to be paid, and payment gateways to be connected.
  4. The development of the competitive strategy of the gambling establishment: the games, providers, client retention, expansion to new markets, differentiating the gaming venue from peers, etc.
  5. Security measures embedded into the system (there are many ready-made solutions, especially when the system is not going to be developed from scratch).
  6. Systems of risk management, compliance, ongoing operational monitoring, reporting, and improvement.
  7. Plan of the preparatory work, tests, changes introduction, launching, post-launch monitoring, and promotion.
  8. Ongoing support and optimization.

Depending on the scale of the future gambling club, the technological platform selected and its complexity, the kind of iGambling license selected, as well as a number of various other factors, the answer to the question of how much does it cost to start an online casino will differ. In the most general approximations, the cost is from a hundred thousand dollars to about a million dollars to launch. In most cases, the license cost plays the most significant part in the budget. For instance, as of 2024, the average cost of Curacao’s iGambling license is $26.7 thousand for 1 year (with a monthly ongoing cost of $2.2 thousand). That’s one of the world’s cheapest ones. In the case of the UKGC, the application fee can be as high as £91,700, the annual fee can be £794,000, and additional annual fees may apply depending on the GGY (Gross Gambling Yield), significantly increasing the general cost.

We’re diving into more details about the parts of the action plan below.

Starting an online casino is not an easy task but it is structured in steps in this article

Licensing and Legal Compliance

It is hard to find two geos with the same iGambling laws. In most cases, they are the same only if there is a complete prohibition on iGambling and betting in these geos. In case of the permissive nature of this business in someplace, the kinds of permitted activities and their regulative peculiarities will differ. That’s why it is necessary to thoroughly study the compliance rules in every particular geo, where a gambling establishment is going to operate to make sure it is going to act within the iGambling laws (not violating them), which can embrace such instances:

  • Marketing, advertising, and promos
  • Taxation and royalties
  • Technical, technological, and financial standards
  • Cross-border operations
  • Payments
  • Bonuses and other remuneration incentives given to punters
  • Consumer protection
  • Restrictions and permissions
  • Areas of iGambling covered by the license.

Selecting a proper license is advisable based on the considerations about the practicality of each point of the license, including its annual cost and royalties. Acting without a license has a list of adverse consequences, including loss of punter trust, fines, restriction of business activity by the government, revocation of the registration of the business entity, and even incarceration of management.

Platform Development

Developing a gambling platform that is convenient for users, practical, and powerful is the most important business task when launching a new gambling establishment. 

Numerous pre-made solutions out there that can be tailored to one’s requirements are constantly improving to ensure the growing business needs that become more complex each year. There are many platforms that have been already pre-made to incorporate all desires and best business practices in various geos, so their fine-tuning is a matter of time and specific preferences. 

The hardest way to go with a new gambling establishment on the Internet is to develop it from scratch. That’s why not too many business owners opt for that, especially those with no prior experience in the area. Thus, it is advisable to begin with the selection of a proper service provider, such as BoomAff, which can collect the needs of a business owner and find the most suitable platform among the ones existing. This will save significant time, money, and effort, allowing launching a new house of gambling within 2-3 months only (considering the full cycle, from the first contact of a client with BoomAff to the launch day).

These pre-made platforms cover these essential parts of the functionality and UX:

  1. A diversity of game providers, games, possibilities for payment gateway connections, reporting, user registration and management, monitoring, anti-fraud, and risk management.
  2. Compliance with the selected iGambling license, which can be expanded or shrunk when another or additional license is obtained.
  3. User-friendly design of the website and mobile app (as well as mobile compatibility).
  4. Omnichannel customer support.
  5. Support of responsible gambling tools, KYC, AML, and other mandatory practices and standards.
  6. Thorough managerial and operational reporting to monitor the working process.
  7. Update, fine-tune, and change possibilities. 

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Game Selection and Integration

When a business owner opts for a ready-made platform sold by one of the modern providers, they acquire a great possibility to connect games to the catalogs from multiple aggregators. One of the game aggregators is BoomAff, which has a technological basis and business agreements with a variety of game providers across the globe, which enable batch connection of new games to gambling establishments. 

In other words, if a business owner desires to add all (or some) games of a game provider, let’s say, Platipus, they can do it through BoomAff. This connection will be made as a tech procedure, where the games appear in the catalog within a few hours or a couple of days tops. For BoomAff, it is the result of complex work with game providers, concluding contracts, ensuring technological compatibility, etc. But for our clients, it is pretty much like the On/Off switch. Like, “I want all games of Microgaming and 100 games of NetEnt added to my casino.” Switch on and done. Or, “I want every new game of BGaming to appear in my casino 1 day after its official release.” Done.

Although it may be seducing to believe that just adding all games of all providers to the gambling establishment’s catalog is a wonderful idea, in fact, it is not. 

Since every game and provider’s presence in the catalog has its cost and legal aspects of geo functioning, a gaming parlor’s owner with their team must ponder, the inclusion of which is an economically justified decision and which is not. Such an analysis is based on factors like game popularity in a particular geo and amongst the gaming venue’s audience, the cost of having the game in that geo compared to anticipated profits it’s going to bring, (also taking into account the business model of royalties), and other parameters. For a thorough consultation and support, it is better to work in tight cooperation with market experts, such as BoomAff, who know every aspect of that in detail. 

Marketing and Promotion

Even before a new betting club is launched, a marketing strategy must start working, which is an inherent part of the gambling business. In ongoing operations, this strategy may be designed every calendar/business year and refined according to operative changes. Thanks to actions within its scope, gambling establishments will increase their brand awareness, gain traffic, and convert visitors into paying clients. 

Essential parts of a marketing strategy for a gambling establishment working on the Internet are:

  1. Ensuring organic traffic through SEO.
  2. Content marketing via various channels (website, blog, newsletter, forums, and participating offline events).
  3. TV, radio, and offline commercials and adverts (depending on the rules of geo).
  4. The active involvement of social media that are available in the geo of presence.
  5. PPC adverts.
  6. Affiliate marketing.
  7. Influencer marketing.
  8. Email marketing.
  9. In-casino remuneration and reward programs.
If you want to know how to start an online casino, this article is going to explain

Launch and Operations

After the point when everything’s ready for the launch, a gambling establishment goes live. That’s a happy event in the life of every business owner and the team that has been working to make it happen. 

To make things smooth and not repel the audience, several important actions must be done:

  1. Testing. Testing is a part of nearly any life and business activity, as it’s hard to imagine we’re going to eat some un-tested food or sign a contract with many grammatical, logical, and essential mistakes. The same thing’s here: test everything that concerns the platform’s functionality and appearance. Typos in texts, errors in the workability of games, transitions between pages, loading times, the correctness of financial flows and calculations, the math behind games, the correctness of the content of multilingual pages, and quality of user experience, among many other things, — all that should be tested before the launch.
  2. Customer support. Whenever punters have issues with games, finances, registration, payments, etc., they either go to the FAQ section or the support service. When an issue is happily resolved, a punter’s satisfaction rises, and they build more loyalty towards the brand. If not, they tend to leave. To prevent the churn, there must be high-quality customer support. It does not make an essential difference whether it is an in-house department or an outsourced thing if it works well and makes punters happy.
  3. Daily maintenance. After the launch, an operational activity starts — the ‘boring’ part of the daily work. It’s a job for responsible people, who can have nothing in common with the development and implementation team. Guys supporting the gambling establishment’s daily functions, honestly speaking, don’t have to be creative, inventive, or buzzing for ventures. They have to be attentive, plodding, hard-working, and observant to make sure everything goes well and in accordance with procedures. They will have their hands in monitoring, reporting, finance management, regulation compliance, risk management, partner management, QA, and procurements. These guys will be the core workers after the gaming club is launched. And there will be other guys, inventive enough, who will drive the development, marketing, and innovations. Building both parts of the team — for pre-launch and after-launch work — is a task of HR and management.  

Player Acquisition and Retention

Gaining the clientele and keeping it growing is a task of a wise strategy translated into daily work that consists of these parts:

  1. Initial studying and constant refining of the knowledge about the clients and their segmentation. A deep focus on analyzing player data will allow for improvement in their gaming experience through the personalization of offers and other measures.
  2. Deploying attractive and meaningful remuneration offers for newcomers and seasoned gamblers, individualizing them for all categories and segments.
  3. Presenting high-quality games by top providers and frequent introductions of novelties.
  4. Refining the customer experience and journey at every stage of interacting with the betting club: registration, FAQ and support, playing, money depositing and withdrawing, receiving congrats and rewards, and passing various verification and safety procedures.
  5. Cross-channel marketing is necessary to create and spread coherent, solid, attractive, and competitive infotainment messages to increase the subscriber base and improve brand awareness.
  6. Periodic campaigns aimed at only new, only seasoned clients, or both.
  7. Continuous improvements, including copying, adapting, and refining offers of competitors.

Ensuring Sustainability and Growth

Although the hardest and most exciting part — the launch of the gaming parlor — is over, there is no time to rest on your laurels. The venue must be nurtured, grown, and taken care of.

To do that, a business owner must have someone in their team who’d be monitoring industry trends to adapt to changes, expanding the venue’s offers, and exploring new markets. 

The landscape of gambling never stands still. Something happens in it nearly every day. If not some regulatory change, then it might be some event, new game launch, new incident discovered, new restrictions imposed by payment operators, etc. Thus, there must be a dedicated daily activity to embrace all these changes and amend plans, taking into account the foreseeable future.

Starting an online casino requires a team of dedicated specialists and perseverance

Conclusion

It might sound intimidating to start a new gaming parlor as a new business in 2024. There’s so much to do: market research, software platform selection, configuring the client profile, coming up with the promotion mechanics, receiving a proper iGambling license, acquiring clients, marketing, running the daily activities…

 However, with the expertise of BoomAff’s software solutions, the processes become streamlined, focused, and structured. And our clients more prompter come to the point of receiving revenues than when they do everything on their own or with help of other companies.

We have multiple offers on the table that can suit a broad range of business models and visions in cost, models & terms of implementation, software design, support, and work with various outsourced teams. Contact us now and let’s launch a new gaming parlor together!

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