In this section you should describe the goals of your business and the needs of the market that it plans to address, as well as the organization of your business.

Make a clear outline of your organization, including the corporate structure whether it is a partnership, corporation, or limited liability corporation. You should also provide information on the stakeholders and other key persons, as well as outlining expectations for staff size.

The market analysis section of your business plan should break down how your business fits into the landscape of the industry. This section needs to show the demand for your product or service and an analysis of the target market, as well as a breakdown of industry trends.

You can give your investors and yourself a good idea of the level of success you can expect by working out turnover projections for at least the first three years of operation.

Starting with some expectations of what you should be able to accomplish is necessary to keep track of how your business is doing. Normally it looks like a description of three scenarios: pessimistic, realistis, and optimistic.

The financing section will be a chance for you to show off your mastery of spreadsheets. For an in-depth look at online casino finances, read about financial statements here and here.

And, inevitably, there will also be taxes. Any investor is going to need to see evidence of meticulous financial planning in addition to your pitch for why your casino will succeed where so many others fail. Your corporate structure will depend, in part, on your choice of jurisdiction — you will have to establish a local business wherever your license is issued.

Your operation might be a partnership, corporation, or limited liability corporation, depending on the regulations of your licensing jurisdiction and any other jurisdictions where parent or subsidiary companies are located. The limited liability corporation is a very common corporate structure for online casinos.

As an international business, online casinos will often have to navigate restrictions and requirements in various countries, sometimes resulting in highly complicated scenarios.

We offer consultancy services and complete package solutions for gambling license acquisition that include:. The choice of licensing jurisdiction is a critical step in the early stages of an online gambling business.

There are a number of jurisdictions around the world that offer online gambling licenses, each with its own licensing process and requirements. Authorities in many countries require operators to have a license from the local regulator. Some operators flinch at the cost, complication, and time commitment of getting licensed, instead choosing to cross their fingers and hope they can fly under the radar indefinitely.

But unlicensed operations face a list of potential consequences. The iGaming industry is a community, where every member, including players end customers , providers of software, games, and payment solutions partners , and regulators and governments state authorities.

We cover the risks that gambling businesses face — and ways to deal with them — here. First-time operators often apply for a license in a jurisdiction with lower costs and simpler requirements, while those who have gained some brand recognition and want to expand into new markets might be willing to spend more.

For example, a new operator might opt to get licensed in Curaçao, which is cheaper than many other jurisdictions. A more established casino with more financial resources looking to conquer new territory might seek a license from the Malta Gaming Authority, which many feel carries more weight.

Some jurisdictions, like Curaçao, offer a single license that allows the holder to offer all types of gambling. However, many other jurisdictions offer separate licenses for each type of gaming. Poker regulations depend on whether the jurisdiction in question classifies it as a game of chance or skill.

Also, different gaming content providers have different license requirements. They might, for example, require their partners to have a license from either Malta or Curaçao. Each jurisdiction has its own application, license, and renewal fees, as well as other costs associated with the application process.

The amount of start-up capital the operator has on hand will likely factor into the decision. The total cost of the license will also depend on how many types of gambling you want to offer.

While governments in some jurisdictions charge little to no gaming taxes, others can have a complicated schedule of fees depending on revenue. Some offshore jurisdictions also charge little or no corporate tax. Every jurisdiction has its own licensing process, and they are often highly complex and very bureaucratic.

Due diligence checks can be very thorough, sometimes including background checks conducted through international law enforcement agencies, and applicants must usually complete a huge stack of paperwork. The time frame for licensing can also play a large role in the choice of jurisdiction, as it can vary greatly.

Newer operators are often drawn to the six-week process of Curaçao, while more established brands have the resources and the patience to wait out the six months it takes to get a license in Malta. New operators usually engage jurisdictional advisory services to help them navigate the complicated licensing process.

You can read about the licensing services we offer here. A small company or a start-up can survive with just a small team, but the bigger the project grows, the more team members it needs. Management-level employees will focus on strategic planning while other team members execute daily tasks.

You might also want to attract external help from outsourcing — it is usually used for design or marketing — or address service or solutions providers. Large companies have in-house development and marketing, but new iGaming operators or those who wish to save time and effort on creating something from scratch pay experienced professionals.

Choosing a vendor for developing a custom online casino platform is a major step in setting up an online casino business.

The scope of the services provided by the supplier will also affect the price of project development and maintenance.

There are thousands of online casinos and sportsbooks in the world. Such enormous competition makes players picky — they want to find what they need quickly and easily.

Registration and deposit buttons should be obvious and clearly marked, as should different sections of your platform, like casino and sportsbook.

Game offerings should be organized according to common player preferences, like volatility and game theme. Security is another concern. Unfortunately, online casinos can present themselves as tempting targets for hackers and swindlers. Licensed platform services should come with anti-fraud and anti-hacking security measures.

Know Your Customer KYC measures, such as manual reviews of ID documents, are critical for preventing bonus abuse and other kinds of fraud, as well as underage and problem gambling. Many licensing jurisdictions require operators to follow KYC guidelines and AML anti-money laundering policies.

Customer Relationship Management CRM systems enable operators to track any process connected to players, including registration, verification, history of games and bonuses, preferences, etc.

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