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How To Start An Online Casino

To say that the global gambling industry is booming would be an understatement. The size of the global online gambling and casino industry was valued at $63.35 billion USD in 2022 and is expected to increase by almost 200% in the next ten years. More countries and jurisdictions are beginning to regulate online casinos, meaning that more opportunities will be available in coming years for savvy entrepreneurs and businesses to start an online casino.

At first glance it might seem like there would be a lot of red tape to start an online casino, but partnering with Lion gaming can make the process simple and fast. Believe it or not, you can start an online gambling operation in just a few weeks if you choose the right online casino software provider.

What do you need to start an online casino?

There are several things that you need to account for when starting an online casino. First, you need to understand the licensing requirements for the jurisdictions and countries that you plan to operate in. For example, gambling isn’t regulated at the federal level in the United States. Licences requirements and restrictions vary state-by-state, and securing a licence in one of the U.S. states can be quite costly and time consuming.

There are other options for online casino operators who want to secure gambling licences quickly, cost-effectively, and most importantly – legally. Curaçao is a popular online gambling licensing regime that allows online casino operators to take bets from most of the world. In many cases, the timeline to secure a gambling licence from Curaçao takes as little as a few weeks. It is also one of the most cost-effective places to get a licence – with an annual price tag of about $50,000 USD compared to hundreds of thousands or millions of dollars in other parts of the world. For more on gambling licences and the updates made to Curaçao’s iGaming legislation, you can read our article titled, Gambling Licences: What You Need to Know in 2024.

Choosing the right online casino software

Now that you have licensing figured out, it’s time to think about your online casino platform. You want your online casino to be unique and stand out among the thousands of other online casinos out there, so make sure to ask different casino platforms if they have the ability to customise the UI/UX of your online casino. In order to provide an exceptional betting experience for your players, you also need to ensure that their online casino software is built for mobile devices, and that you have the back-office, Player Account Management, and marketing tools necessary to communicate with your players and monitor your operation.

White label casino software is a popular choice for online casino operators because it allows them to have all the above in a fraction of the time and cost it would take to develop online casino software in-house. But keep in mind, not all online casino platforms are created equal. That’s why we wrote this blog on the things you should look for when evaluating different online casino software providers. Feel free to refer to this resource when you’re evaluating the partner that you will be relying on to have a successful operation.

Payment methods for online casinos

The next thing that you need to factor into your decision-making process is the types of payment methods you want to offer your players. There are a variety of payment methods available including direct deposits from bank accounts, credit card payments, and the growing popularity of crypto payments and crypto gambling. There are a lot of online casino technology providers on the market, but not all can offer every payment method that you are looking for. If you want the ability to accept cryptocurrency on your websites, it’s important that their platform is capable of accepting crypto payments. Lion Gaming’s Fer0x Crypto Casino is the perfect choice for you if you want to accept crypto payments in your online casino. For more on starting an online casino that accepts crypto, check out our blog on how to start a crypto casino.

Costs required to start an online casino

Now that you’ve thought about the licensing requirements, the importance of the technology that supports your casino operation, and what kind of payments you want to accept from your players, it’s time to look at all the costs involved. If you’re developing your casino technology from the ground-up, the costs could be in the high six-figure to low-seven figure range when accounting for all the developers, lawyers, certifications, and time required to build your solution from scratch.

The more efficient options are white label or turnkey casino solutions. Reliable casino technology providers can charge anywhere from a few thousand dollars to several hundred thousand dollars for their white label online casino software. Some of the legacy providers in the industry are more expensive than others, and still don’t offer the advanced technology that modern bettors demand.

In addition to the upfront licensing fees associated with licensing online casino platform software, most providers also charge a percentage of your Gross Gaming Revenue (GGR) on a monthly basis. Again, some technology providers charge a higher percentage of revenue share than others, so make sure that you factor that into your evaluation.

Start an online casino with Lion Gaming

At Lion Gaming we’ve developed a white label casino platform that checks all the boxes that operators should look for. With dozens of online casinos and sportsbooks relying on our advanced iGaming technology, we’re constantly innovating to keep our partners at the forefront of the industry. Ready to start your own online casino? Contact us today to get up and running with a fully customised online casino in just a few weeks.

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VP of Operations
c.lewis@liongaming.io

Christine Lewis

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      855 2 St SW #3500
      Calgary, AB
      T2P 4K1 Canada