Australia is one of the world’s biggest gambling markets. It is ranked 6th when it comes to the number of pokies within the country.
It is not uncommon to find a “pokie” machine no matter where you are, be it pubs, restaurants, hotels or casinos. The H2 Gambling Capita survey which looked at 200 countries, found Australia to have the greatest number of people that gamble.
So, if you are an entrepreneur looking to grab a slice of this multi-billion-dollar pie, here is a low budget guide to starting an online casino in Australia.
Analyze your competition
There are hundreds of online casinos that accept players from Australia. Before you dive into starting one of your own, it would be a great learning exercise to really dissect all the top online casinos for Australians and how they have become so popular. You need to look at the best practices of the online casinos dominating the Australian market (Click here to see who they are). Even though you have a much smaller budget, it does not mean you cannot compete.
Furthermore, for those on a shoe string budget, this initial research costs nothing but is worth a lot.
Getting a Gaming license
Some of the most popular gambling jurisdictions where you can apply for a license include the UK, Malta, Alderney, Isle of Man, Curacao and Gibraltar. If you want Australian players to consider your online casino, you simply cannot afford to offer an unlicensed service.
Choose a license which is well reputed such as one from the UKGC for example. The factors that you need to consider while choosing a license are reputability, validity and the cost of licensing. Even though you are on a low budget, a license is one of the key expenditures where you should not be too conservative about spending, especially if you are looking for a good response once your casino is launched.
Partner with the reputed software providers
Developing your own online casino software and games is not only cumbersome but also an expensive affair. Furthermore, players would much rather choose to play pokies from established game developers rather than play proprietary games from a relatively unknown, in-house development team.
Therefore, you can save time and money by simply sourcing your games and software from online casino software providers such as Evolution Gaming, Quickspin, Betsoft Gaming, iSoftBet, and Real Time Gaming, to name a few. Since Australian players are big on pokies, choose providers with the best pokies’ collections.
Website and theme development
The website is the face of your online casino. It dictates the first impression and the overall player experience. A website that looks modern and immersive will go a long way in attracting players and getting them to sign up. The latest trend is not to overuse graphical elements, but rather keep the website looking minimal and clean with an easy to use information architecture.
Also, you want to think of a theme for your brand. May be you can have a mascot. Go through the themes that popular online casinos use for inspiration.
Another major factor which will determine the reception your online casino may receive is the type of promotions offered. Players love free stuff. Find a balanced promotional strategy which not only attracts new players and gets them to sign up (courtesy of welcome bonuses) but also rewards players that frequent your casino with regular promotions and a loyalty program with lots of perks.
Online casino players expect the most secure payments methods, but also want them to be quick and hassle free. In order to be competitive, your casino needs to support easy payments that are secure, cost virtually no processing fees and also quick withdrawals.
Thankfully, you don’t have to reinvent the wheel when it comes to payment processing. There are tried and tested solutions which can be implemented. Sometimes, the software provider you are working with will take of care of payment processing.
Ensure that the casino supports various payment methods such as credit cards, debit cards, eWallets and even Bitcoins if your budget permits. Providing support for Visa, MasterCard, American Express, Neosurf and POLi, can make it most convenient for your members. What is also important is that the casino supports various currencies, especially the Australian Dollar. Players having to go through currency conversion not supported by the casino is a big deal breaker. So, if you plan to operate in markets other than Australia, ensure the relevant currencies are supported by your casino.
Here are a few areas you cannot afford to compromise on if you want to operate a casino worth its salt.
• A reputed casino license
• Partnering with well-known game providers
• Implementing secure and fast payment solutions
• Development of a good looking and intuitive website
However, the one area where your budget will determine how far you go is marketing. The world of online casino marketing if full of tools and marketing channels. This could be SEO, promotions and bonuses, social media marketing, and affiliate site marketing.
Marketing is crucial to get your online casino noticed and bring in the players that it deserves.
To be honest, don’t be obsessed with making a profit right at the start. It could take a year or two to settle down. Just focus on offering some generous bonuses and host a load of promotions throughout the year. This is what will eventually bring in the profits.