With the success of many online gambling and sports betting websites like Bet365, the taboo perception of the industry has vastly decreased. What was once considered to be not family-friendly is now being advertised by some of the biggest sports leagues to families all around the world. This change in perception has led to a sharp increase in the interest and subsequently, the revenue generated by the industry.
The Big Picture Of Online Gambling
- According to Gambling.net, the revenue from online gaming reached $45.8 billion in 2018.
- In the UK, the total revenue from gambling was an impressive £14.5 billion.
- In Canada, the revenue was found to be $17.3 billion and is expected to keep growing at a steady pace.
- The worldwide online gambling industry as a whole is expected to double itself in the next few years.
Looking at the raw data, a clear picture is painted. The online gambling business has seen tremendous growth and is really thriving. But the news that should get you really excited is the fact that this trend isn’t going away anytime soon.
Naturally, you might have already started pondering the obvious question. How can I start an online gambling business and be a part of this economic boom?
Well, obviously, starting an online gaming business is easier said than done. Not all countries treat gambling the same way. Some countries have placed heavy restrictions on gambling while others are more lax about it, and there are few that even encourage it. So depending on the country of your origin, the rules may differ, so do the necessary research about the laws of the land before you jump headfirst into this new venture.
What Do I Need To Get Started?
Now that we’ve cleared up any misconception you might have, let’s look at the prerequisites of the online gambling business.
Supposing your country allows the facilitation of online gambling, here is what you need to get started.
- A gambling license
- A dedicated server
- A merchant account
Apart from this, you would also need to get in touch with an online gambling app developer that you can work with to bring your plan to fruition.
License And Legality
As previously discussed, the legality of online gambling depends on the country whose jurisdiction you come under.
These nations fall under these main categories:
- Countries with regulated gambling
- Countries with regulated gambling in the form of monopolies whether they’re privately or government-owned.
- Countries that have banned gambling completely.
- Countries without clearly defined regulations on online gambling.
There are many gambling control boards around the world that offer their services in obtaining the necessary paperwork you need to get your business going worldwide. However, the ultimate authority lies with the country or state that you operate from and the jurisdictions that they impose.
As always, it is vital to do the proper research regarding these regulations so you can make sure your online gambling site is legitimate and legal.
Dedicated Server To Host Your Site
Once you jump through the legal loopholes, you are ready to get started on the online gambling app of your dreams! The first step in legitimizing your business is by buying yourself some online real estate. A dedicated website and a server to run it is absolutely crucial.
There are numerous online gambling website developers to be found with a quick search. The same goes for the server that you will need to host the website. Depending on the domain name of your choosing and other such factors, the price of your host server might differ but choosing a reliable server to host your site will ensure that it does not have any downtime or worse, crash due to excess traffic.
Reliable Merchant For Online Transactions
When running an enterprise like online gambling, you will be dealing with a lot of online transactions. Hence, it is absolutely vital that you avail the services of a reliable online merchant to carry out these transactions.
There are many numbers of online merchants such as Braintree, Paypal, etc. that provide a reliable service to both you and your customers.
Using a merchant that is widely recognized also increases the trust that your customers have on you, so investing in one that has brand recognition can go a long way in attracting business.
Finding The Right App Developer
Probably the most important step in making an online gambling site is choosing the right developers that can help you build your venture. With the huge success of app development, numerous companies have cropped up to take advantage of this technological surge.
This leads to an array of options for you, the entrepreneur. This can be both a blessing and a curse at the same time. With so many choices available, how can you choose the right software developer for you?
A lot of it depends on your specific needs and requirements. How extensive do you want your gambling app to be? What is your budget? What is your expected potential revenue? Do you have a sustainable business model in place to meet those targets? Answering these questions can help guide you to the right choice when it comes to your gambling app provider.
Rest assured, no matter what you are looking for, there is a company out there that matches those exact needs. Large scale developers such as INORU have everything you might need under one roof. From development to marketing to post-launch maintenance, everything can be outsourced to us. Not only do we offer you an all extensive app for your online gambling venture, but we provide the best web site development.
Availing the opportunity to partner up with an all-in-one company such as this can save you a lot of time, effort, and most importantly, money!