Why Starting Your Own Online Casino is easier than you think
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Due to its high profitability and a respect for the enjoyment of gambling, a dream of many is to open their own casino. Due to the tremendous amount of capital required to do so, however, this is often a pipe-dream. However, most people don’t realise that another option is to go online and start a casino on the web. This requires much less money and is much easier than you think. Opening an online casino can be done in three simple steps!
Step 1 – Choose your Suppliers
The first step you need to undertake is to decide what you want featured on your site. This may sound simple, but there are several casino software companies to choose from as well as hundreds and hundreds of games. The best online casinos can feature over 600 games, but this is often quite expensive to run, so you might want to start a bit smaller. While games attract people, software runs your site and helps you manage your casino. Both are important, and you can choose between casino providers that charge you via monthly fees or one-time purchases, which allow you to ensure full data privacy.
Top online casinos will attract thousands of customers through their expert selection of games, but if you want to maximize customers at a minimized cost, you could investigate which games are most popular on all the UK’s top online casinos and only select these for your site. In this case, it is vital for you to get an overview of the competition and their game selection.
Step 2 – Get a License
You may not need to get a full casino license if your supplier offers game and software packages. In these cases, you will be offered a sub-license, allowing you to operate legally without the hassle of obtaining a full license. These are sometimes called turnkey solutions.
If you do not have this option, you need to obtain a license yourself. In the UK, this can be very expensive (over 150,000 EUR/year). If this is too much, you have some other options. You could only take BitCoin or other cryptocurrency as payment, which does not require licensing, but note that the best casinos take many different currencies. Alternatively, you could set up an offshore company using a service like slogold.net, and obtain a license for a different, cheaper country (for example, Curacao licenses cost about 25,000 EUR/year).
Step 3 – Choose Payment Methods
The top online casinos accept several payment methods, but if you’re just starting out, you may want to pick one. Credit cards are the premier payment method online, but services like PayPal are also an option. It is vital that you use a credit card processing service, as you need to verify that your customer has enough money to make the deposit as well as send the money to your account.
With these three steps, you can start your own online casino. It has never been easier to do so, and though it is typically expensive to set one up, you can take advantage of loopholes that can make it relatively cheap to do!
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