Ever wanted to learn how to start an iGaming business or start an online casino? Well you are in luck, this post outlines exactly what you need to do in order to get going!
Starting an iGaming business is a complex task that can take a lot of time and effort however there are some secrets you can use to make the task a lot simpler than one would expect.
What is an iGaming business
An iGaming business is one where you offer gambling related games to your cusotmers who play these games using fiat currency or cyrpotcurrency on the chance of winning a prize. iGaming games includes poker, casinos, lotteries, bingo and sports betting. Many countries restrict or ban online gambling, but it is legal in most countries of the European Union, several nations in the Caribbean and a growing number of African countries.
Will I need a gambling license to start an iGaming business?
Yes you will, without an iGaming license you will not be able to setup e-wallets or merchant processing accounts in order to accept payments from your customers.
Will I need games to start an iGaming business?
Yes, iGaming games are traditionally lottery, casino, poker, table games, sports betting etc. These you could build yourself (if you have the skills to do so) but in most instances, you will work with a casino game vendor or a games aggregator.
Will I need e-wallets and credit card payments to start an iGaming business?
Unless you plan to take cash in hand, you will need to integrate payments into your website so that your players can make deposits.
Popular payment methods are: NETeller, Skrill and Credit Card. In addition to this, many casinos are now accepting Bitcoin and other alt coins as a form of payment.
Some people think they can use the likes of Paypal and Payonner to accept payments. These companies and many like them do not accept gambling type businesses as customers.
What platform software can I use to start my iGaming business?
Companies such as Microgaming, NETentertainment, Playtech are the most well known gambling companies who will offer a packaged solution for you to start your business. In many instances these companies will ask large upfront fees from you before you can get going. When we were at ICE in 2016, we were told by NETentertainment that we needed to pony up €120,000.00 just to get their games. Microgaming asked for $200,000.00 USD when we first approached them. We never approched PlayTech however we would imagine the pricing to be simialr.
If you have the money to burn, we would recommend all of the above companies, they have great games, great products, and good support and staff. If you do not have the money to burn, then the next option is likely your best one.
Start your iGaming casino with GamblingTec.com
We have written extensively about GamblingTec.com as a company that has been designed to support smaller start up game developemnt companies wanting to get their games into a licensed environment.
For more information visit: www.gamblingtec.com