What Does One Need to Start a Bitcoin Casino? The Online Casino Market Expert Answers
Cryptocurrency is a rapidly developing trend that everybody is trying to get the benefit of. The direction it opened in an online gambling business is also worth attention since it was noticed to be really profitable and not quite widespread for now. That is why Online Casino Market is sure that starting an online Bitcoin casino will make you a successful entrepreneur in case you follow all the stages and stick to them thoroughly:
- conduct market analysis;
- develop an elaborated business plan;
- purchase an online gambling license;
- find a software manufacturer;
- order a website;
- install the payment systems;
- start an advertising campaign.
First of all, it is necessary to figure out your ultimate goal you will be moving towards. The market analysis will significantly help you in finding the best jurisdiction for your casino, partners to cooperate with, and just vital information to aid the organizational process.
Once you know the direction to go, it is high time to elaborate on how you are going to achieve it. A Bitcoin online casino requires special preparations in terms of licensing issues, payment systems, and website support. You must think over all these steps to speed up the organizational process.
As you might have already researched, cryptocurrency casinos don’t really require licenses for the operation. Since the money doesn’t enter any bank accounts, there is no need for registration. However, not all people own Bitcoin and other crypto and prefer conventional payment methods. This leads to a moral dilemma — to focus entirely on Bitcoin or try to attract players who will pay with fiat cash as well. If you have decided to combine both casino types, here are the documents you will need to apply for a license at a gambling commission:
- passport copies of everybody related to your company;
- bank certificates that prove your account credibility;
- detailed company hierarchy;
- your business plan with the probable income and estimated expenses;
- application for registration.
Apart from that, you should also contact the authorities of the chosen jurisdiction for any particular papers required by the local regulations.
Your Bitcoin casino must be entertaining for the players and convenient for your team. Thus, you must take care of enjoyable games for your visitors as well as functional administrative tools for your managers and support team. Unfortunately, you will hardly ever find everything needed within a single manufacturer. So, make sure you know how to avoid fraudsters and contact only the reliable software providers:
- ask for quality certificates to ensure the provider’s credibility;
- examine the list of existing games and administrative tools – the more extensive the choice is, the higher the chance you will find the proper soft;
- inquire about the possibility to develop your own games according to the topic of your casino;
- talk about demo versions of the games and systems to test how well they will be working for you;
- look for the company’s reputation on the market and the reviews of the former clients.
This is one of the crucial steps in the entire process. Your website is the mirror of your business. The better it will be designed the more clients you will eventually have. Make your players feel comfortable and return over and over again. Here, you have two choices of organizing your online Bitcoin casino website:
- Hire freelancers and explain to them all peculiarities of a casino website. Work with them regularly to implement your ideas as you see them in your mind. This is a cheap way to get yourself a Bitcoin casino.
- Hire professional front-end and back-end developers who would design your website much faster. This method bears no risk of future failures, guarantees support for the first time, but may be much more expensive in comparison to the first one.
Keep in mind that we are working towards a combined Bitcoin casino. Not only you would have to find the way to transfer cryptocurrency from one e-wallet to another directly, but also get the proper software to help users deposit fiat currency on their accounts.
Make sure the system is secured since you don’t want to suffer hackers breaches and lose the entire capital and all the users' money. Moreover, it is recommended to mention the protected payment systems on the website’s main page to earn the visitors’ trust and calm them down.
With the restricted access to Google Adwords and Facebook advertising, all the new ways of promoting your gambling business have been popping up on the market. One of the most efficient ones is affiliate programs. You actually rent the place for your ads on the websites and portals and pay to the webmaster either for each click or provide them with the percentage of the income from the redirected players.
Here, things can get quite tricky. If you are eager to start a gambling business but have never had any business experience, you may resort to Online Casino Market that offers quite convenient turnkey options. They just consult you on each stage of the casino development process and adjust the settings according to your needs.