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The range and quality of games on offer are obviously of paramount importance so you'll want to spend a considerable amount of time going through what's on offer.
You'll also want to factor in which jurisdictions they support and other aspects of the license such as whether they support tie-ins with land-based casinos and what type of customer support is bundled in.
Regardless of which option you go for, you'll have to be prepared to invest a significant amount of money but it is still very much worth breaking down the differences between various providers to make sure you're getting the best possible value.
The next decision you face concerns payment infrastructure. PayPal is probably the most widely known and accepted e-wallet provider but firms such as Neteller and Skrill are becoming increasingly popular.
The traditional option of wire transfer is also still very much available. Having as many payment options available as possible on your casino site is obviously the best option to attract customers.
Be aware that there will be fees associated with all of these payments. In terms of merchant services, credit and debit cards attract high fees but are ubiquitous, and offer security for both casino and customer.
Neteller and Skrill offer a similar service to PayPal and have become a preferred payment solution for many customers. You'll still want to accommodate the major providers such as PayPal and credit cards simply because their presence acts as a trust signal in its own right.
Not having these options on offer can actually harm your overall credibility. When it comes to offering wire transfer, you'll need to factor in that these transactions take longer to process, though the associated fees are much lower.
It's a potentially very useful option if you're, for example, focusing your casino on the Asian market where options such as e-wallets may not be as widely available due to geographical restrictions.
The final option to consider for payments are prepaid cards. This is a relatively new class of payment options where companies such as PaySafe are leading the way and making increasing inroads into the market.
They're a very convenient option for certain classes of customers so you should consider offering them as an additional payment method on your casino site.
For legal reasons, your casino needs to be licensed. There are two main types of online casino jurisdiction for you to choose from: As a budding online casino operator, your first licensing decision is to decide which jurisdiction you wish to operate under.
This is an important choice and there are numerous factors involved that you'll need to consider in terms of how your casino runs, your profitability, and the startup costs you face.
You'll find different rules associated with what you can offer and to whom when it comes to licensing. For instance, some jurisdictions will expressly forbid allowing residents of the United States to gamble at casinos under their regulations, whilst others do not offer any restrictions at all.
Tax is another aspect to consider, some offer tax free status to the offshore entity that runs the casino, where others do not. The cost of the license and amount of bureaucracy involved can also vary widely between countries.
The final point to bear in mind and one that many prospective owners foolishly ignore is perception — what does the location say about your casino?
Casinos based in Gibraltar or the Isle of Man, for example, carry an association of reliability and security due to the tight controls over operational and fiscal activities that are in place there.
All of the factors we've mentioned above can make a significant difference to the feasibility and day-to-day operation of your online casino so you should be sure to carry out thorough research before committing to a particular decision.
Also bear in mind that the licensing process itself can take a considerable amount of time, anywhere from two months to a year depending on your choice of location.
In Malta, for instance, it usually takes six months for an application to be finalised and a license issued. The costs of licensing begin at the application stage where the majority of options come with a large advisory and legal bill attached.
The amounts here can vary and will depend on your history and the complexity of your casino operation. You'll then also need to factor in the cost of your equipment and other expenses such as web hosting.
As with all of our points, you'll need to do extensive research as the cost variations you'll find are large. You'll also need to set up a company in the jurisdiction of the licensing authority.
Options available here vary considerably. Some territories require at least one resident of the country to hold a position amongst the management, others require a set number of employees, and others still have no restrictions at all.
The key here is to make sure you fully understand, and comply, with all the requirements, as not doing so will see your license disappear and potentially leave you with nothing.
Make sure you fully research the legal implications of each option you're considering. You'll obviously need staff for the day-to-day running of your casino.
Areas you'll need to consider include customer support staff, technical staff depending on your setup.
You'll also need to make a hefty initial banking deposit to cover any large wins as you can never be sure when these will occur and need to be covered at all times.
Another operational concern that you'll need to deal with is that of security. Depending on which software provider you go with for your online casino, much of the heavy lifting may already be taken care of, but you'll still be responsible for making sure financial and technical security systems and processes are in place and for monitoring possible threats.
There's no getting around it, marketing your casino is essential. With the marketplace becoming ever more crowded, marketing is assuming an increasingly important role in terms of attracting a solid customer base.
One of the most popular marketing tactics in the industry is going down the affiliate marketing route. This is where affiliates market your casino on your behalf and receive a fee based on how many customers they can attract to your casino.
How this fee is arranged varies considerably. Some pay a fee per new customer, but the general arrangement is a percentage of what revenue the new customer generates.
These percentages can be quite high. Affiliates use a variety of techniques to obtain new customers for your casino.
The majority of them will employ a website and domain of their own that they use SEO techniques and other marketing solutions to promote.
Using trackable ads and links, these sites then direct the customers to your site. Recruiting affiliates can be tricky but you'll see that most casinos have a link to their affiliate scheme listed prominently on the main page.
The best affiliates are usually experienced players who understand the market, but you can also use specialty affiliate websites to recruit, or even attend conferences and recruit gambling aficionados that way.
Aside from the affiliate system, you will also need to market the casino yourself, via SEO, SEM and other online marketing techniques.
This can be done in-house or via specialist companies that will promote your site for you. Be sure to fully research any third-party companies you're considering employing as some less than reputable outfits use underhand marketing techniques that can damage your brand over the long term.
If all this sounds far too expensive and involved, and for many it will be, you are probably wondering if there are any alternatives.
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