THE DO’S & DON’TS WHEN STARTING YOUR NEW ONLINE CASINO
TIME TO START YOUR NEW ONLINE CASINO?
Do you want to dip your toes in the online casino industry?
Want to make it your side hustle?
If yes, worry not!
Today we’ll share with you some of the dos and don’ts of launching your new online casino site. These will help you avoid the most common mistakes that online casino operators often make while starting a new online casino site.
With the online casino industry growing at a rapid pace, once you follow a few tips and avoid the most common mistakes, you can kick-start your online casino with a bang!
Without any delay, let us first look at the things that you need to accomplish in starting an online casino site.
Do’s of launching your new online casino site
These dos will help you avoid a lot of problems usually associated with this business.
- Familiarize yourself with the industry
Before starting an online casino site, it is always a good idea to know more about the industry. It stands true not just for the online casino industry but pretty much any industry out there. This research phase will help you find answers to a lot of questions like:
- Who should be the target audience of your online casino site?
- What should be your 1st-year goals while starting the online casino site?
- Which sub-segment of the online casino industry should you get into?
- How can you attract players to your online casino site?
With answers to these questions, you can minimize the trial and error to a great extent and kick-start your online casino.
- Abide by the regulations
Once you familiarize yourself with the industry, it is time to know more about the industry regulations.
The rules which you follow will be dependent on the country where you’ll operate your business. You have to go through the different rules of various countries to find out how it will impact your operation
Depending on the jurisdiction, you might have to refrain some players from registering on your site as well.
You need to learn every rule and regulation which you have to abide by. Why?
A single lapse can shut down your online casino site.
That is why it is essential to not only choose the country of jurisdiction carefully but also to abide by all the regulations.
- Choose the right online casino software
Whether you open an online casino site or e-commerce site, the customer experience will determine its success or failure. In-case of an online casino site, the customer experience depends on the online casino software platform which you use.
As a new online casino owner, it will also be one of the most significant expenses which you will incur. That is why you have to choose the online casino software platform provider carefully.
Some of the features that you should look out for in such a platform include:
- Glitch-free experience
- Mobile responsiveness
- Load handling capacity
Once you evaluate the software platform on these few parameters, it will become comparatively easy for you to pick the right one.
- Choose games wisely
Ultimately, whether the players stick around with your online casino platform or migrate to another will be dependent on the number and type of games that you offer.
Before cherry-picking the games, it is essential to determine the game categories that you will provide. These can be plenty like:
- Live Dealer Games (Variations of different tables games such as Baccarat, the intriguing dice games and various others)
- Traditional online slots or modernistic video slots
- Lottery and so many more
You have to determine these game categories before you cherry-pick the online casino games you will include. You can even syndicate games from game developers. However, you can do so only when you’re sure about the type of games on offer.
There are a few tips to keep in mind when it comes to choosing the games for your online casino:
- You should offer games across categories.
- You should offer plenty of options to avoid player migration.
- You should offer games that are easy to understand and play.
- You should offer games that have a low minimum betting amount.
When you follow these tips, it becomes easy for you to choose the games wisely. It will help you establish your online casino as a highly versatile platform.
- Create a marketing plan
The most obvious step is to create a marketing plan.
Even when you set up your online casino site in the right way, in the absence of a marketing plan, it will not succeed.
The marketing plan should be detailed and should answer questions like:
- What is the unique selling point (USP) of your online casino site?
- What incentive do you provide the players to sign up on your online casino site?
- How will you target the right demographics?
- What will be the user acquisition cost that your online casino will have to incur?
If your marketing plan answers all of these questions, you can go ahead with executing it. It is essential to create a holistic marketing plan while setting up an
online casino site.
Now that you are familiar with the steps that you need to undertake, we will go into the details of the mistakes that you need to avoid strictly.
Don’ts of launching your new online casino site
Many new online casino owners are susceptible to making these mistakes. Hence, you have to be aware of them to avoid them at all costs.
- Not adding enough payment methods
Payment bottlenecks could cost you a lot in the online casino industry.
Not adding enough payment methods can be the Achilles heel of your online casino.
You have to choose your payment processor wisely and ensure that you offer multiple payment methods like:
- Electronic wallets
- Wire transfers
- Credit cards
- Debit cards
- And so on
In the absence of a suitable payment method, the player will have no other option but to migrate to another online casino. It will mean that the amount of money spent on acquiring that player will go waste. That is why you have to ensure that you are getting more than enough payment methods to make it easy for the players to deposit their money.
- Not certifying your online casino from a third-party audit firm:
Did it ever cross your mind to approve your online casino by a 3rd party agency?
You might be thinking that it is not necessary.
However, it is a big mistake.
Trust is pretty fickle. If you do not come across as a trustworthy online casino in the eyes of the player, he/she will not sign up with your online casino. So, to gain this trust, you should go for a 3rd party audit and display the results clearly on your site.
These 3rd party audit agencies will check your sites to make sure that the games are legit. They also go through the number generation sequences to ensure that they are entirely random.
Thus, if your online casino is indeed legit, you need not worry.
Being ambiguous or opaque regarding the quality of games on your online casino site can prove to be costly. It is a mistake you should not make.
- Not offering fast support
Here’s a hard pill to swallow:
Merely offering multiple support channels will not gain you an advantage.
Many new online casinos have that on offer.
However, most of the online casino owners make the mistake of not monitoring the quality or the response times of the support channel.
You have to ensure that across all the support channels, the players get a fast response. Not only that, you have to ensure that you offer the usual support channels like:
- Live chat
- Email support
- Tickets support
- Phone support
- Support through social media channels
All these channels should be adequately manned to ensure that the players get near-instantaneous support. If a support channel is not available 24/7, you have to mention that on your site. It will help the players choose the right support channel and get help quickly.
Active and instantaneous support can quickly help you stand out in the online casino industry. It is a factor that you need to focus on.
- Not offering bonuses or promotions
Bonuses and promotions can surely prove to be costly for new online casinos. However, you shouldn’t make the mistake of not offering them. It is essential to lure the players into your online casino site. One of the cheapest ways is to provide these bonuses and promotions.
If you make the mistake of choosing not to offer bonuses or promotions, the growth of your online casino will be stunted. Your business might not even survive the initial couple of years. That’s why it is important to be generous with the bonuses as well as the promotions on offer.
- Not keeping up with the industry trends
The online casino industry is evolving at a rapid pace. It can adapt new technology to make the platforms better at a fast pace.
In such a case, ignoring the latest trends in the online casino industry can come back to haunt you. Rather than making this mistake, it is better to keep watch on the industry trends. You can achieve it in multiple ways which include:
- Attending industry conferences
- Checking out new offerings by your competition
- Keeping a watch on the social media chatter
- And so on
It will ensure that you do not make the mistake of missing out on any latest trend. If you can capitalize on any such industry trend in time, you can grow your online casino to the next level.
While starting a new online casino site, it is essential to go through and follow the dos and don’ts.
Once you abide by them, it will become easy for you to avoid the most common mistakes. At the same time, these dos and don’ts can also help you gain an edge over the competition.
In an industry with such cutthroat competition, every small advantage counts. Thus, it is essential to follow these tips and avoid mistakes at all costs.