...
You are here: CryptoGamble.tips » Crypto Casino Solutions » FAQs

Most Frequent asked questions

What is the requirement to open an online casino?

Company incorporation

To open an online casino, one of the first things you should do is file your incorporation documents. You can not legally run a business without your certificate of incorporation. You will need to decide what type of enterprise you intend to set up: an LLC, a partnership, or a sole proprietorship. Most people prefer to run a Limited Liability Company (LLC) because it protects you from personal liability.

Licence

You will also need to get a gaming license in the jurisdiction you want to operate. Although crypto casinos are accessible to everyone on the internet, you still need to get an operating license in different jurisdictions. There is no global license, but instead, countries have regulations regarding gambling and are responsible for issuing licenses.

Integrate Payment solution

You also need to apply for payment processing systems for your casino site. It is best to go for popular payment systems like Visa, MasterCard, Neteller, Skrill, etc as well as for cryptocurrencies including the major ones (bitcoin, ethereum, litecoin, dogecoin, etc). Although optional, you may also acquire certain certifications such as eCOGRA Certified Online Gaming Sites, SSL Certificate, and GSA Certification from the Gaming Standards Association. 

What makes a great casino software provider?

The services provided by crypto casino software providers make it a great company to patronize. If you want to run a casino that matches top standards successfully, you need casino software that offers favorite games players love. Games from leading developers like Microgaming, NetEnt, Scientific Games, Evolution Games are good options to consider.

Even with a large collection of games, if your casino software has a poor user interface, your players won’t have a great experience. Good casino software should offer high-quality games with superior graphic quality. The platform should be using the latest software in the industry that guarantees the best gaming experience. Today, leading casinos invest in cutting-edge technology and innovation to ensure players get the best gaming experience.

The casino software should also have convenient and multiple payment options for players to get paid. They should offer several popular payment options available to players in different countries. Other qualities that make a casino software provider great are excellent customer service, competitive rates on products offered, and more flexibility in their software.

How long does it take to make your online casino?

Most investors who want to know how to start an online casino business wonder what the duration will be. The time frame estimated to get your online casino running depends on several factors. Depending on the business owner and software providers, the whole process can be concluded between 6 to 8 months. Typically, setting up the online casino software with a White Label service takes up to 3 months. Other options like the Turnkey and even Self-Service take much longer.

The process will include setting up the website, designing the website, web-hosting, games set up, and other custom settings or features. Also, if the business owner is able to obtain a gaming license quickly, partner with payment processors, and open a corporate bank account.

The business owner will need to settle all legal obligations and provide all necessary documentation as well as contracts. The process for White Label casino is usually the easiest solution because it is a ready-to-operate casino. Its setup will take between 2 to 3 months, as opposed to the Turnkey solution which takes longer

I am a new investor and know nothing of casinos – which solution should I choose between white label, turnkey, bitcoin, or self-service?

When setting up your online casino, you will face several choices. One of which is building your casino from scratch or buying an already made online casino from software providers. The White Label Casino and the Turnkey Solutions are both pre-made casino platforms. What separates the two is that the White Label casino is a ready-to-operate casino. It has all the tools needed to run the casino quickly and successfully. The White label casino comes with games, payment processor systems, web platform, web hosting, web design, gaming license, etc. The only thing the business owner will need is to rebrand the casino. The custom options are limited, and the business owner may not have the flexibility to change many things about the software.

On the other hand, the Turnkey solution comes with a ready-made website except for a license and payment processing system. These services will be outsourced or even paid for separately by the software provider. The business owner can revamp the platform and change the entire web design. Once bought, the buyer takes complete ownership and will be responsible for obtaining a license for the platform.

The Self-Service option involves building the online casino from scratch. The casino owner will need to partner with game providers, pay web designers, and build the online casino. The process takes longer as everything is done right from the beginning, including obtaining gaming licenses, registering the gambling business, and meeting all the requirements. The Bitcoin casino software offers a platform that works with cryptocurrencies. It could either be a White Label casino or a Turnkey solution. This software integrates Bitcoin and other digital currencies into the platform.

How can I make sure I abide by the rules and regulations of owning a casino online?

Various countries have rules and regulations guiding gambling in their territories. If you want to be on the right side of the law, you must comply with these regulations. You can only know what regulations apply in jurisdictions by researching and making inquiries. If you are to provide gambling services in any country, you should inquire which authority regulates these businesses and the required obligations. There are jurisdictions that recognize some licenses and you will be able to operate without any other obligation. Some jurisdictions where gambling is legal require online companies to obtain a license and meet certain criteria to obtain such a gaming license. You also should ensure you find out the countries where gambling is illegal, so you don’t end up breaking the law. You should also find out the tax requirements, immigration regulations, and other requirements expected from online casinos in different jurisdictions.

Who owns the customers’ database?

The General Data Protection Regulation (GDPR) is a new privacy law introduced by the European Union. This regulation is a necessity for every business handling people’s personal data in the EU. Any company dealing with personal data has an obligation to handle these data with care and have complete control over such information. They have the responsibility of protecting the data to prevent any illegal access by third parties. If you are running an online casino, you will be responsible for your customer’s database. This means that you must be in compliance with the GDPR. Even if your online casino is not operating in the EU, but you manage accounts of players from countries in the EU, you will need to comply with the GDPR rules.

Online casinos today are expected to comply with the KYC process to prevent fraud and money laundering. When customers submit their details to the casino, they request personal details such as ID number, ID expiry date, Names, Addresses, and other personal information. When this data is sent, it is then processed using database systems. Online casinos can be exempt from this responsibility if they hire the service of a data processor to manage personal data using their database systems. The EU lists six criteria for processing EU citizens’ personal data, and non-compliance attracts a fine of up to 20 million EUR.

What is responsible gambling, and do I have to promote it as an online casino owner?

Responsible gambling is a must for all gambling establishments. Many people enjoy playing games online, but when it becomes an addiction, it’s a dangerous thing because players can end up bankrupt. A responsible Gambling policy was put in place to ensure that players are not at any risk when gambling. The regulators demand that gambling establishments comply with the responsible gambling requirements.

One of these requirements is for casinos to prevent underage gambling. This is why players are mandated to submit their IDs for verification in the KYC process. The legal age for gambling is 18 years and older. In some countries like the US, the age requirement is 21, while in Malta, the legal gambling age is 25. Responsible gambling controls dangerous gambling behavior, and casino operators are expected to screen individuals during the onboarding process. They are also expected to monitor the addictive triggers and when they discover such behavior, immediately restrict the player from their service.

The casino should have special measures to protect players from addictive behavior. They can use methods like deposit limits, time outs, activity alerts, and even access limiting. Casinos can promote responsible gambling through ethical marketing. They must not use advertisements targeting vulnerable groups like children, teenagers, and self-excluded players. Casinos should not normalize gambling to sponsor sports or youth culture. The casino should also ensure responsibility by advising players on the risk of addictive gambling and creating awareness for responsible gambling.

Do I need to have an affiliate platform?

There are lots of benefits of using affiliate marketing for online businesses, and online casinos have been one of the beneficiaries of this marketing strategy. If you are starting your own online casino, you should be ready to spend the bulk of your finances on marketing. While many other paid advertising methods exist, the affiliate marketing stands out from the rest. Affiliate marketers can drive huge traffic to a site quickly. These third-party sites bring traffic to your online casino so more customers can know about your business. It is a smart decision to hire the services of affiliate marketing platforms for the growth of your online casino. They build traffic using SEO and link building and ensure your business ranks high on search engines. 

Can a player cheat or hack an online casino? Do I need to have some sort of risk management software in place?

Casino software providers ensure that they have a risk management plan included in their software. Online casinos have a security system to avoid any form of cheating. There have been stricter rules and measures put in place to ensure fair winning. It is very difficult to cheat on an online casino game with all these security measures in place. Casinos partner with third-party companies that monitor transactions on their site and watch out for any irregularities or foul play from players.

There have been incidents where players try to cheat or tamper with the Random Number Generator using some hacking software. However, it can only be done by experienced hackers who can detect flaws in the program, but this is still not possible because most game developers also monitor their games looking for problems and fixes. They will easily identify any attempt at hacking or breaking protocols.

Can I open an online casino in another country outside of my residency or nationality?

It is possible to open an online casino in any part of the world. Although, it is easier and more convenient to do this in your jurisdiction or where you reside. If, however, you want to open an online casino in another country, you must check with the immigration department of the country. They will provide you with all the rules on establishing a business as a foreigner. You will also need to meet up with Visa requirements, company registration, and opening a physical office in the country. Also, you will need to ensure that you are in compliance with tax regulations and obtain the necessary permits for online gambling in the country.

Which country is the best to open an online casino business?

The easiest place to open an online casino is in the country you reside. To start an online casino business in another country, you will have to consider the regulations that apply in those countries. It can be difficult to apply for licenses in certain countries, while in other countries, the process is simple and can be compared to opening a bank account. Also, you need to consider the issue of taxes as these taxes vary in different jurisdictions. In some countries, you pay more, while others may be more affordable.

That said, here are the 7 best places to look at:

  • Sweden
  • Gibraltar
  • Cyprus
  • Curacao
  • Isle of Man
  • Malta
  • Germany

Do I need to have a business lawyer if I want to run an online casino business?

When running your online casino, there are many legal issues you will likely run into. Having a good legal firm that represents you allows you to focus on the business side of your casino. A lawyer will help you handle legal challenges involving negotiating complex transactions, protecting intellectual property, taxes, real estate matters, labor and employment issues, and other legal matters. Having an experienced lawyer to counsel you on your business is very important. There are law firms with vast experience in online gaming, immigration, litigation, real estate, construction, finance, and legislative matters. These lawyers can advise you and also help in areas of general licensing, company incorporation, and legal compliance.

Do I need to pay for the first consultation with software providers?

Consultation is usually free when reaching out to software providers. Many of the leading providers offer 24/7 support to answer any of your questions. They usually have an experienced team that can offer solutions that work best for your online casino business.

CryptoGamble.tips
Logo