The online gaming world has experienced impressive growth over the last few years. After coming to life in early 2000, the industry experienced a boom in 2003 when Chris Moneymaker, an amateur poker player from the US, won the World Series of Poker and $2 million. After winning his seat online, Moneymaker went on to beat the best professionals in the world and, in the process, became a household name.
Seeing Moneymaker’s success, millions of people around the world decided to go on to the Internet in search of gaming riches. All keen to experience the new wave of gaming options and, potentially, win big like Mr. Moneymaker, these of players held turned the iGaming industry into a billion dollar economy.
Indeed, from a global market value of around $7.4 billion in 2003, the industry is now worth more than $40 billion and it’s still growing. Indeed, thanks to constant innovation and a greater acceptance of virtual gaming, people are now looking for more ways to ante-up online.
Naturally, with so many opportunities out there just waiting to be seized, you might be wondering how you can get in on the action. Starting you own online casino is by no means a simple process; however, if you can cover some fundamental bases, there’s no reason you couldn’t create your own online gambling platform.
Get a Licence
Before you can do anything in the iGaming world you’ll need to start the licensing process. Every legitimate online casino will be licensed by at least one governing body. To legally offer games to paying customers, casino operators need to have a licence which verifies that they are safe and fair. Because of the way the iGaming industry has evolved, certain jurisdictions now have different licensing bodies.
For example, if you’re looking to serve casino customers in the UK, you’d need to have a licence authorised by the UK Gambling Commission. Similarly, if you’re aiming for the New Jersey market in the US, your product will have to be verified by the New Jersey Division of Gaming Enforcement.
Although you will need to have a fully function platform to get through the final stages of the licensing process, you will need to start the process before you do anything else.
Find a Software Supplier
Once you’ve set the licensing wheel in motion, the next thing you need to do is find a software supplier. Because the industry is now more than a decade old, there are dozens of software supplier who will supply all the games you’ll need to offer an online casino. From blackjack and roulette to scratchcards and slots, suppliers such as Microgaming, SoftSwiss and Playtech will provide interactive and certifiably random (i.e. fair) games.
Of course, choosing a supplier is easy and there’s a lot of paperwork required before you even get into the technical stuff. Fortunately, there are now companies out there who will liaise with suppliers for you to get the best deal possible. Companies such as GBO International will arrange deals with software suppliers that will fill your site with more than 400 games that are certified by eCOGRA (a company that checks each algorithm is random) and highly engaging. In fact, using this service is the most efficient way to obtain your games because it means you won’t have to handle the research, the paperwork or the legal issues and, instead, you can simply focus on designing your interface.
Choose Your Payment Options
Once you’ve enlisted the help of GBO and secured a suite of casino games, the final major feature you’ll have to think about is your payment options. Again, it’s possible to use a financial services company such as GBO to help arrange payment options; however, it’s also possible to partner with payment processors such as Skrill, Visa and MasterCard.
So long as you’re a registered company, own a business account and have all the necessary licenses, you’ll be able to utilise the services of credit, debit and eWallet provisions from a range of processors. Doing this is not only necessary in order to satisfy iGaming regulatory standards, but it will give your platform a much greater level of credibility.
Promote Your Product
After covering the main bases (plus a few smaller ones we haven’t mentioned), you’ll then need to promote your casino. Through a combination of sign-up deals, social media campaigns and press coverage, you should, with a little luck, be able to tap into the lucrative iGaming market.