According to statistics, gambling is one of the most profitable businesses in the network. To successfully start your own gambling business on the Internet and get a consistently high profit, it is important to consider many nuances. Below are five steps you need to take to launch the Canadian online casino.
Step 1: Choosing an Offshore Jurisdiction to Register Canadian Online Casino
Unfortunately, online gambling businesses cannot be registered everywhere. This activity is strictly controlled, and governing bodies regularly block resources with illegal gambling content. Therefore, the founders of online casinos are looking for other options for legal activity through registration in offshore. Several countries are ready to establish offshore for online gambling businesses on fairly favorable terms.
Malta
Issues 4 types of licenses for 5 years. The registration fee starts at €50,000. The actual tax rate is 5% of the profit. Besides, the country is a member of the EU and allows you to connect to a merchant account.
Gibraltar
A license costs €30 thousand, and its annual renewal will cost €2 thousand. Among the advantages are comfortable conditions for cooperation with European banks and the lack of down payment. Disadvantages are also present: you need to pay two types of taxes – income taxes and gambling, it is important to conduct a full audit, and licenses are issued only to trusted companies with a good reputation and financial situation.
Costa Rica
License price – $15 thousand. It needs to be renewed every three months for $1.5 thousand. If you accept bets from non-residents of the country, then you do not need to pay taxes. However, for registration, you must have a resident representative, obtain a license from the municipality, rent an office and hire employees.
Antigua and Barbuda
Licensing of gambling in these islands is handled by a special department of FSRC. Registration cost – $ 25 thousand, plus annually you need to pay up to $ 70 thousand. The license renewal will cost $ 5 thousand. You can start a business with an initial capital. When accepting bets from foreign customers, taxes are not applied. However, the FSRC strictly monitors the gambling business: there should be several warnings on the resource that people under 18 years old are forbidden to play.
Isle of Man
You can get a license for only £1 thousand, and renewal will cost £20 thousand per year. Non-UK companies are offered very favorable conditions. But you have to pay a tax of 1.5% of the profit.
Among other well-known jurisdictions where you can register Canadian online casinos: United Kingdom, Curacao, Cyprus, Seychelles, Alderney, etc. There are also many areas not typical of an offshore business where you can obtain a license for online gambling: France, Australia, Czech Republic, New Zealand, Denmark, Kazakhstan, and other countries. It is important to consider that for the registration of the online gambling business in the EU, the initial capital must be at least € 100 thousand.
Step 2: Making a business plan for an online casino in offshore
After choosing a jurisdiction, it is important to draw up a detailed business plan for the future online casino. It should contain the following items:
- accurate and detailed data on the functioning of the casino;
- carefully thought-out advertising campaign;
- Description of potential risks and methods for solving problems;
- accounting of all items of expenses and income.
For lack of sufficient start-up capital, a good business plan will help attract large investors.
Step 3: Choosing software and payment systems for offshore online casinos
Once an entrepreneur decides on a line of business, he can choose a platform that provides suitable software: online slots, roulette, poker, etc. It is important to understand that the profitability of a business directly depends on the choice of a provider of gambling solutions.
The criteria for the quality of gaming software are:
- ease of use of the product;
- great graphics and clear sound;
- the presence of a package of various popular games;
- maintaining the confidentiality of personal data of customers;
- security when receiving and issuing funds.
Besides, good software allows you to install updates on the game package, and also has all the necessary certificates and licenses.
When choosing a payment system, you need to remember – the more payment options you have, the more regular customers satisfied with the high quality of service.
Step 4: Website Development for Offshore Online Casinos
After opening a bank account, you can proceed to the development of the site. An online casino resource must meet at least two requirements: usability and stylish design. Also, the owner of an online business needs:
- register a unique domain name or buy an existing address;
- purchase a server by specifying a data center in the contract, as well as for what needs the server will be used;
- purchase ready-made software for a gaming platform or assemble a team of specialists (at least a programmer, web designer, and SEO expert) for its development.
Step 5: Launch an advertising campaign for an online casino registered in offshore
To attract the maximum number of customers, it is important to advertise online casinos using all available channels:
- TV and print media;
- social networks and search engines;
- news resources;
- contextual and outdoor advertising;
- Word of mouth.
Advertising costs should be initially included in the business plan, and it is not recommended to save on them since 50% of success depends on competent marketing.
To conduct a successful business in any field, you need to carefully study the market and offer customers the highest quality product. The above tips will help to launch an online casino and take into account all the factors to make it profitable.
