Are you looking to start an online gaming platform this year? It is a profitable venture, especially when you take into account the inflow of money into the market. According to, the Interactive Gaming (iGaming) market is projected to hit.
Now, the challenge is understanding the steps you need to take to start your platform. In this article, we cover the different things you need to start doing to increase the chances of starting the business on the right foot.
Plan Everything beforehand
You remember that cliché, “if you fail to plan, you plan to fail.” We are sure you want to make the most out of the online gambling platform you are looking to establish. As such, you want to make the necessary plans and be sure that you have everything in place before executing.
Here are some of the things you need to do at the initial time.
Come up with a Business Plan
A business plan is a blueprint that shows everything you want to achieve with the gambling platform, including the steps you will take to achieve those.
You may want to consult a professional in business planning to help you draw up a plan for your online gambling business.
How Much Do You Need to Start a Business?
The next thing on the list at the planning stage is the budget. How much do you think will be able to cover the expenditures from start to completion of the online gambling platform?
These are some of the expenses you are likely to make.
- Getting a domain name and domain hosting.
- Hiring staff, including a website developer.
- Company registration.
- Applying for and obtaining the license to operate the platform and offer its associated
services. - Online gambling software acquisition plus fees for the software developer/provider.
- Marketing budget – both pre-and post-marketing.
Tighten the Legal End
The legal end includes registering the platform as a business, and getting the license that empowers you to run it in the jurisdiction.
Take note that the jurisdiction the platform is meant to operate is subject to existing regulations. Therefore, you want to find out the standing of the local gambling authorities on online gambling activities. It is always best to settle for jurisdictions that have flexible regulatory policies for online gambling.
Decide on a Niche
No doubt, there are several categories or niches in the world of Interactive Gaming (iGaming). But the truth of the matter is that you wouldn’t be able to cover it all, especially at the onset. The rule of thumb is to find a niche that you can dominate.
It could be offering slot games, which by the way, is one of the most popular games on online gambling platforms. You may also be interested in offering Electronic Sports (eSports), online casino games, or fantasy sports. Virtual sports and football are also on the list of options to consider.
Partner with an Online Gambling Software Provider
The content offered on your online gambling site will be sourced from the software provider. Thus, partnering with one of such providers is important. NuxGame can help you in that regard.
Choosing the right software provider can be made simpler if you look for some of the following attributes.
- Quality Content: The game content should be both updated and of good quality. This is important because you want to offer your users the best online gambling content much more than your competitors could offer.
- Anti-Fraud System: This is a part of the Anti-Money Laundering (AML) system that prevents fraudulent transactions from being carried out on your online gambling platform.
- Affiliate/Agent Management System: This system helps both the affiliate (networks) and the agents to attract more users to your gambling platform.
Define Your Audience
Knowing your target audience is a key to succeeding at the online gambling business you are venturing into. You want to understand their needs, the existing solutions/services they might have been using, the new solutions they expect, and their demographics.
With the information, you can come up with the right online gambling service that meets most of their needs.
Get Ready to Launch
The timeframe of starting the platform could be anywhere between a few months and a year. Within this time, you will collaborate with the software provider (NuxGame) to find the right game for your users, get the website ready and obtain the relevant licenses.
You also need to set up a merchant and corporate banking account for the effective management of your gambling platform’s finances.
Reach out to online payment service providers. They should be able to help you pick the ideal payment systems and structures to offer inclusive payment options to your users. It is also pertinent that the providers offer these services in line with the AML system on your online gambling platform.
As the last step to take before launching, go over the existing solutions to be sure they are as you wanted. If possible, get a couple of trusted friends or colleagues to test-run the platform to be sure everything is in place.
Promote Your Online Gambling Brand
It is now time to be strategic and aggressive with marketing or promoting your gambling platform. Try to explore different avenues for this.
- SEO: Search Engine Optimization or SEO for short is the range of activities used for making a website or content rank higher on Search Engines, such as Google and Yahoo. You can hire content writers to create content around the keywords that are in your niche, as a way of driving organic traffic via SEO.
- Social Media: You can combine content marketing and paid advertising on Facebook, Instagram, and Twitter to promote your online gambling platform.
Conclusion: Launch Your Online Gambling Site and Make Money in 2022
The opportunity is already here for you to kick off your online gambling business. The interest in the online gambling market is continuously increasing and with this comes an opportunity to get more users to your platform.
By implementing the steps in this article, you stand a chance to beat others to the competition.
