Technological development drives progress in many industries, especially iGaming. Readily available internet access, an increasing number of casino enthusiasts, and the widespread legalization of online gambling contribute to online casinos’ growth.
Since opportunities abound where growth is consistent, many entrepreneurs and investors are flocking to the online casino business in the Netherlands. Jered Beugelink, an experienced iGaming writer, talks about online casino business opportunities open to you.
How Do Online Casino Businesses Operate?
Online casinos have been operating with the same principles for over two decades, making slight improvements here and there. Their primary purpose is to give gamblers access to various games at any time on a fast and user-friendly platform.
There are three main aspects to the operations of an online casino:
- Types of online casinos: There are two primary kinds of online casinos based on the access method. Gamers can either download the casino software (app) or play instantly through their browsers.
- Licenses and certifications: An online casino site is only considered trustworthy if it has licenses and certifications from credible gaming commissions and regulatory bodies. In the Netherlands, the KSA (the Dutch Gaming Authority) is responsible for providing licenses to online casino operators.
- Games variety: Player satisfaction hinges on the availability of games. Today’s casinos have extensive game libraries featuring hundreds or thousands of games for players to enjoy. Regardless of the device players use, they can access these games to play for real cash or test demo versions.
In addition to these aspects, payment options and customer service are also vital to the smooth operations of online casinos.
What Business Opportunities Can I Find at Online Casinos?
As mentioned earlier, constant growth is a good breeding ground for opportunities. Since 2015, the online gambling market has increased at a CAGR (Compound Annual Growth Rate) of 13.7%. It is expected to reach $127,451 million by 2025.
The Netherlands recently enforced the Remote Gambling Act that legalises online gambling. With this development, the country is poised to be one of Europe’s iGaming powerhouses. Online casinos are a lucrative pie, and here are some opportunities to get you in on the action:
Own an Online Casino
Owning an online casino is the most popular business opportunity nowadays, and you can do it in two ways:
- Buy a fully prepared online casino or invest in an existing one looking to expand.
- Create an online casino website from scratch
While one method seems more straightforward, you should realize that both require much work. The industry is as brutal as profitable, and competition is stiff. Here are some necessary steps to take if you plan to start from scratch:
- Have a business plan detailing your objectives, budget, and means of execution.
- Select a gaming software provider that suits your needs. Industry giants like NetEnt and Microgaming are ideal options.
- Get a gaming license (or two) from your chosen jurisdiction and ensure iGaming is legal in that location.
- Choose legitimate and gambling-friendly payment options. For instance, cryptocurrencies are rising and changing the industry rapidly.
- Go for the best and most entertaining games, focusing on variety. You can also add sports betting to increase your market base.
- Design a website with a user-friendly interface.
- Customer service should be 24/7, spanning emails, direct calls, and a live chat.
- Market effectively to your target audience.
The estimated starting capital for owning and running an online casino business is €50,000. However, it’s a profitable venture with annual industry revenues reaching €50 billion.
Become a Website Operator
The site operators for online casinos are responsible for delivering a sublime gaming experience. They offer unique interfaces that ensure player satisfaction and loyalty. Website operators are key players in the online casino industry, and you can consider staking your claim as one.
Take the Affiliate Route
Affiliate marketers in the online gambling business direct players to online casinos and are a source of steady player traffic. Online casinos pay top dollar to get and retain accomplished affiliate marketers. It’s an excellent business opportunity, and the commissions can go up to €100,000 per month.
Online casinos provide limitless business opportunities for burgeoning entrepreneurs and seasoned investors. If you’re looking to earn some money while entertaining players, you can take advantage of these opportunities.