How to Start an Online Gaming Business
- Written by: admin
- Category: Uncategorized
- Published: March 5, 2023
Gaming is one of the fastest growing industries online. It had achieved revenue of USD $8-9 billion in 2006, USD 12 Billion in 2008, and is expected to go beyond USD 15-18 billion in 2010. There are more than 2500 online casinos this time and still growing. The internet serves equal opportunity for all land-based gaming operators as well as those who do not already have a gaming business but want to start online gaming business i.e. i-Gaming or e-Casino industry and enjoy the benefits. This article provides some basic information on internet gaming industry and how you can start your own online gaming portal.
What Internet Casino or Online Gaming is? Like other online businesses this is an online gaming portal where players can place their bets online using their internet connection, play till they want to. Different online casinos might offer some different features, bonus offers, and games in their portfolios. However the most of them do offer some common and popular types of Las Vegas style games like Blackjack, Poker, Slots, Bingo, Roulette etc. some include sportsbook, lotteries and other forms on traditional gambling, too. The money can be deposited or withdrawn via various online payment methods using credit cards. The overall gaming process run through software from a main server and is closely monitored for all online activities.
The online gambling software comes with various customizable features and games. The operators can limit individual bets, daily bets and fix a payback ratio. Some of them also use Vegas Odds, especially in State of Nevada. The pay back percent can be set keeping in mind volume of the game. More payback generally translates into more winning odds for players hence more players for your casinos.
How you can start in online gaming business: the essentials to start an online gaming site include:
a) License – At first you need slot demo to obtain a gambling license from respective authority in your territory and from fields of operations to run a casino. This would cost a good amount, depending upon the prevailing rules in any state.
b) Software – You would need to have software specifically designed for the purpose, with integrated e-commerce features, payment methods and security measures. There are many software companies offering online casino software with customizable options. This might cost a good amount but provide you with full control of the site and requires no royalty-sharing with the software development company.
Some Internet Gambling Software providers also offer franchisee type of arrangements which costs much less than acquiring your own software. These companies provide with the software and even necessary equipments at a fixed cost and / or on a certain share in revenue. The fees of this type of licensing may cost anything from USD 30,000 to 1 million. The company, in turn, may provide marketing, maintenance and other support.
Another low-cost option can be to become a Sub licensee or an affiliate. This may be obtained at no initial investment or may cost something up to USD 60,000. In this type of arrangements the sublicense has to put in efforts for marketing and build up its own player network.
How to promote online gambling business: what is true for all other online and offline business is true for online gaming too. That is marketing and promotion activities. You need to generate good internet traffic to your online gambling site and attract players to earn profit. Money attracts money. You can decide what and how you can promote your online gaming business, how much you can invest on monthly basis. The results might take some time to show, though.