How to Start a Gambling Business? Comprehensive Guide

The iGaming sector seems to be overwhelmed with gambling companies. As of 2024, the overall number of such businesses is 5,098, and the annual growth is about 5%. Have newcomer gambling companies any chances to win a place under the sun?

In fact, the gambling market has just commenced its development, and the industry sees much more pretty things ahead. It’s high time to pave the path in iGaming. Meanwhile, newer businesses need to correspond to some trends and requirements; otherwise, beginners will fly out of the race like a rocket.

Here are core recommendations on how to run a gambling company that both matches legal aspects and the players’ expectations.

Licensing: What Jurisdictions to Select?

Regulation is among the top priorities for a newcomer gambling business. Long gone are the days when an online casino entered the market without any license. Players are much more demanding and want their rights to be fully protected.

Gambling licenses are divided into national and international. International licenses are offered by financial regulators that don’t have exceptionally strict legal requirements; this is why a casino may easily get such a license (e.g., Curacao, Malta, Gibraltar, The Isle of Man). National licenses unlock one particular market and imply stricter norms and standards.

What should a newcomer online casino do? First and foremost, a company needs an international license to enter the market. Such a solution minimizes expenses and lets a business provide services throughout the globe. The following jurisdictions are understood as the most preferable for gambling licensing:

• Curacao. To get a license in Curacao, one has to register a company in the jurisdiction, store clients’ data, and place computing power there as well. The license costs about €5,600 per month. Furthermore, companies need to put up a security deposit of €34,000. It takes from 3 to 6 months to get a license.
• Alderney. Businesses need to have a company registered in the jurisdiction. The license costs £17,500 and you need to pay £10,000 annually. The consideration of the application takes about 6 months.
• Gibraltar. This jurisdiction implies some strict requirements for gambling businesses. Companies need to follow the KYC policy and collect complaints from their clients. The license costs £2,000 annually. Application is considered within 3 months.
• Malta. Gambling businesses pay €4,660 annually for the first 6 months. Then the payment rises to €7,000 per month.

An international license is the most suitable solution for a newcomer casino; meanwhile, top-rated gambling companies expand their services to other markets and get national licenses there. Such a process is connected with diverse pitfalls. One needs to dive into the rules and requirements of every regulator to get a license there.

Website Development: Ease of Use and High-End Functionality

After getting a license, you need a website to base your online casino on. Never underestimate the importance of a website as today’s gamblers expect to deal with a top-class interface that combines ease of use with ultimate functionality.

While developing a gambling website the following stages should be taken into account:

• Concept development. Think over every smallest detail including style, color scheme, website menu with subtopics, and other components to make a casino unique and well distinctive among competitors.
• Website layout. Apply to experienced and qualified specialists to get a website that is convenient for both clients and managers.
• Content filling. Gamblers definitely visit a casino website to play different games but a platform needs to offer something more. Add useful and entertaining content that can excite your players.

Apart from website visualization and content, you need to take into account domain and hosting issues.

As for hosting, the following requirements are put forward:

• high security level;
• stable maintenance around the clock, seven straight days;
• high response speed;
• correspondence to legal standards.

When thinking about a domain name, there are some useful tips to remember:

• Add your casino name.
• Domain names should better include some hints that refer to the gambling topic (fruits, 777) or contain a certain type of a gambling game (slots, poker).
• In case of the accent on a certain location, add the name of a city or a country.

Gambling Software: White Label Solutions or Turnkey Platforms

A website itself is just a cover of an online casino. You need a platform that powers all the inner processes. Top-rated software solutions are modular and quickly adapt to the latest market trends. Business owners get an engine to manage gambler accounts, payment service providers, and game providers. Furthermore, a platform provides managers with detailed reports and analytics.

There are two main options while thinking about a gambling engine for your website: WL (White Label) solutions and turnkey platforms.

Turnkey platforms give more freedom to a business owner. Such software is fully customized according to your demands. Furthermore, you get full ownership and control over the processes. In other words, you get a website of a dream – everything will function in the way you want. Meanwhile, the pitfalls are quite huge. Turnkey solutions are much more expensive and require in-depth sector knowledge. Such an option forces a business owner to go through all the stages all by himself.

White Label platforms somehow restrict an owner’s freedom but make the market entrance process much easier. Business owners get limited customization and shared control over their online casino, but the provider is responsible for a set of aspects including licensing. Furthermore, WL platforms make it possible to enter the market in the shortest terms.

White Label software seems to be the best choice for beginners with modest budgets.

Source: Nextworx

Note that today’s gambling solutions understand mobile apps as must-haves. Players prefer to use gambling platforms from their smartphones, and the popularity of mobile devices is expected to grow more; which is why top-rated casinos cannot get the leading positions without fully functional applications.

iGaming Software: The More Casino Games – The Better

Casino games are the basis of a gambling website or a gambling app. Players don’t visit a website to enjoy its design and functionality. They want to play diverse games. Dealing with the market-leading iGaming software providers is exceptionally important.

There are tens of companies involved in the development of gaming software. Which important aspects should be taken into account?

• Work with licensed providers only. Top-rated companies have licenses from several jurisdictions which make their software correspond to legal norms and standards.
• Mix game types and genres. Players expect to face a variety of casino games; this is why top-rated platforms partner with numerous software providers. Add slots, roulettes, poker rooms, blackjack, baccarat, and other game genres to match the expectations of your target audience.
• Follow the latest trends. Business owners cannot ignore software solutions that are in fashion right now. For instance, live casino games are among the latest gambling trends. Players adore the atmosphere of a real casino; this is why you need to have some live games amongst the array of gambling solutions.
• Replenish the range of available games. Gambling solutions quickly become boring and players want to get some more options; this is why you need to add new games constantly to warm up the interest of your audience.

At first, several hundred games from different genres provided by licensed companies are entirely enough but the industry-leading gambling platforms unlock access to more than a thousand games for every taste and color.

Payment System: Connect Safe and Reliable Gateway

iGaming is a multibillion-dollar industry and financial issues are among the most important for both business owners and clients. When it comes to gambling platforms, two types of payment gateways are widely integrated: hosted (redirecting) and self-hosted.

Hosted payment gateways redirect a client to a checkout page where payments are processed. Maintenance and security are provided by a gateway. As for a self-hosted solution, all the financial information is collected by a gambling website. In practice, both beginners and top-rated online casinos prefer to deal with hosted gateways to get rid of unnecessary obligations.

While talking about payment methods, credit and debit cards are usually understood as a core option. According to Statista, credit and debit cards together with wire transfers cover 74.7% of all transactions gamblers make. This is why business owners need a solution that supports other payment methods as well (e-wallets, prepaid cards, cryptocurrencies).

Source: Statista

Apart from the array of payment methods, the following aspects are of much account as well:

• Processing speed. Deal with gateways that are able to provide your clients with the highest transaction processing speed.
• Fees. Gateways charge fees from 1.5% to 6%. Furthermore, minimum commissions of $0.3-$0.6 per transfer may be set.

The connection process of the chosen payment gateway comprises the following stages:

• Find a payment system provider that corresponds to all your demands.
• Discuss the partnership conditions and sign an agreement.
• Unlock access to your corporate information so that a provider could audit your platform.
• Get the chosen solution connected through API and FTP protocols.
• After the final settings the gateway is ready to process transactions.

Marketing Issues: How to Maintain Your Positions?

Since a business owner has run a gambling website, nothing is over. A well-designed platform with a wide variety of gaming options and a secure payment gateway can still lose the competition in case of poor marketing. Tens of new names constantly appear on the iGaming map, and even top-rated casinos have to maintain their image.

An effective marketing strategy is a must-have for a casino website management. Analyze the industry-leading platforms to understand which approaches are used for attracting and retaining players. Furthermore, you need to offer something unique that will separate your business from competitors.

Total Expenses to Run a Gambling Website

Overall expenses for an online casino may vary from $50,000 to more than $1,000,000. It depends on a set of factors:

As such, $50,000 is enough to enter the iGaming industry with a WL solution and a cheap license.

Bottom Line: Are There Any Free Spaces to Run a Gambling Platform?

Despite the exceptionally high competition level, the iGaming market still welcomes newcomers. To get a place under the sun, beginners need to understand the latest industry trends. Get a license and a well-developed website, find a White Label or turnkey gambling platform, partner with top-rated software providers, and deal with a safe and secure payment gateway. Serve this up with the sauce of an effective marketing strategy to achieve success.