When COVID-19 began to tighten its grip on the world, it lead to many businesses the world over to shut down. While most of them were closed temporarily, some others were shut down permanently mostly due to the inability to financially sustain themselves. However, there have been some businesses that have been able to weather the storm without a single issue.
Is it possible for those starting their own casino business to still continue operations even with COVID-19 still being the global health issue? The short answer is yes. And there’s a reason why businesses like casinos have stayed alive during the pandemic.
We’ll show you a step-by-step guide on how you can start a business that can survive something that carries the same magnitude of COVID-19. While the shuttering of businesses has taken a bite out of the global economy, a “new economy” has appeared and may be here to stay. And it is fueled by those who are staying home rather than go out.
In this example of building a COVID-19 proof business, we’ll be looking at how you can build an online casino from scratch. Keep in mind, this will require quite a bit of money. With that said, let’s kick it off with step one:
1. The legal
First and foremost, it’s important to get the higher level hurdles out of the way first. That is dealing with the legal stuff of operating an online casino. These online casinos will need to be licensed in various jurisdictions in order to serve customers residing in a specific state, province, or country.
You’ll be dealing with filing fees and the like when setting up the legal side of your casino business. You don’t have to make it available to every country in the world yet. Just focus on your jurisdiction and build from there.
If you are in the United States, you may need to consider doing your research on which licenses you need in order to operate in the country. Outside the United States, it’s easier to get a license since the gaming licenses are issued by their national government (i.e — UK, Malta, etc.)
2. Website hosting and software
You can’t have an online presence without having a host for your website. Choose a host that is reputable and has the bandwidth to host a potentially high-volume site where people will always come and go. Also, take the time to find out which software will work well in your favor for casino gaming.
While looking for both a website host and the software, take a look at how the client reviews are. Are they more positive than negative? Is it worth the investment? One key to success is doing your due diligence and being able to choose the right host and software.
You want something that will not just fit your budget, but you want a host and software that has excellent customer service, terms and conditions that are fair, and so on.
3. Games, games, games
No online casino is complete without a variety of games. The question is: what will your ideal users want to play? You’ll have plenty of them who are fans of slots. Some others want to play table games or video poker.
Not only should you do your research on what most casinos are doing to draw in users, but you can also find out what the market wants. If there is one source of information that will aid you in making your business successful, nine times out of ten it will be the market.
Listen to them and get a good idea of what they like, what they dislike, and so on. This includes the type of games they want to play, how fast the payout should be, and a lot more.
4. Payouts and how they are done
One of the biggest concerns about running an online business is whether or not every transaction is secure. Hackers and cybercriminals are always up to no good and there is no knowledge of where they’ll strike next (and when). For all of your payment gateways, you want the best encryption you can get your hands on so your users’ most sensitive data can be protected.
Make it easy for users to deposit and withdraw their winnings at any time without any issues with hackers or technical issues.
5. Get the word out
No one will know that your online casino is up and running if you don’t say anything. So it’s always a good idea to get the word out. But how do you do that in the age where social media reigns supreme?
For one, promoting gambling or online casinos are frowned upon on most social media platforms. So you may need to resort to using SEO if you are looking to promote online. Also, you may want to tackle the traditional advertising methods like print, radio, or TV ads.
The latter advertising choices can cost you quite a bit of money. So you may need to get creative in terms of how you can ethically and legally promote your online casino so you get plenty of traffic to it.
Once you have plenty of traffic and have a lot of happy users, then they can be your best bet in making sure that the site stays populated for a long time. They will leave positive reviews and spread the word to their friends and fellow gamblers.
Starting a business that is COVID-19 proof is no easy task. But if you are able to start with plenty of cash, you can get some decent online casino software, reliable hosting, and plenty of happy users. Even beyond the pandemic, your business will still grow financially and in popularity so long as you keep them happy and listen to their likes, what they suggest should improve, and so on.
At a time where people are staying home and looking for something to do without going out in public much, it seems like the perfect time to start something where they can have fun and you can reap the financial rewards.