The Online Gaming sector is without a doubt a fast-growing industry that is very attractive to gamblers and investors. This is because in the last 15 years, it has seen a tremendous growth with no sign of letting up. At the moment, the current iGaming market is worth close to $59 billion with a CAGR growth f0 10%. Needless to say, many people and companies are thinking about entering this high profit market. Our gambling operator’s tutorial will explain How to Start an Online Gaming Operation and the steps necessary to open one.
The process of opening an online gambling business is not as easy or as difficult as many people think. This is because it all depends on how a bookie or entrepreneur decides to go about doing it. However, one thing that is certain is that correctly preparing to open a gaming operation will make things easier.
Yes, we are talking about doing the right kind of research. This includes being in compliance with the law, market research, due diligence, iGaming Platform Software and more. Once the preparations and research are done, then it will be much easier to open an online sportsbook.
How to Start an Online Gaming Operation – Preparation and Research
Where and whom – The first step is to figure out where you will setup shop and where your players will come from. For example, in the U.S. market, many states now have online gaming laws which means a license is often necessary. Therefore, take the time to learn about regulations and find the best country to that suit your needs.
While many small bookmakers do not feel the need to obtain one, it is a good idea to get one. This is because it will protect your business as well as your players. Some popular places to obtain one include Antigua and the Philippines because their Gaming license are affordable.
Your players or gamblers will dictate how your run and operate your gaming website. In this case, we are not talking about the type of gamblers but their location. This is important because it once again comes down to the law. For example, the Korean online gambling market is not legal nor illegal. However, banking is difficult as it is not very friendly to gamblers.
Market Research – This item on preparing to start an online gaming operation could also be first on the list. By doing the market research first, you get a better idea as to where you want to setup shop. This is because you can research the iGaming market from number of potential clients to cost of operation and licenses.
Marketing and Sales – Marketing is a big part of selling your services to gamblers and cannot be forgotten. Furthermore, marketing is not cheap and you could be competing with some of the largest gaming operations in the world. Needless to say, researching cost and options will help you figure out your budget and potential sales.
Find an Expert in Online Gaming Operations
The best and easiest way to setup an online gaming operation is to find the right help. This comes in the form of an expert in the field of online gaming operations. One such expert is PricePerPlayer.com as we have thousands of happy clients with successful online gaming business around the world. With almost 20 years in the iGaming business, we know hundreds of different gambling market and how to access them!
In addition, we have several option on how to start an online gaming operation to fit your budget. Our Bookie Pay Per Head Service is probably the most popular option amongst gaming operators. This is because it is a turnkey gaming solution that is affordable and easy to use.