The popularity of cryptocurrencies has grown exponentially over the years as there are several benefits associated with cryptos that are missing from the regular fiat currencies. It is now an accepted payment mode for goods, and services and its quick transferability has made it a favorite with businesses. Therefore, it is not surprising that the gaming industry has latched on to this mode of payment, with online casinos accepting Bitcoins and other cryptos mushrooming all over the world.
A Bitcoin casino is a gaming establishment, usually online, that accepts crypto like Bitcoin as a mode of payment in addition to the regular currencies and credit and debit cards. Apart from this aspect, there is hardly any difference between traditional casinos and crypto casinos, and both provide ease of playing as well as a wide range of games.
Just as a player has a wallet to store money and his cards and the casino operator a bank to receive deposits and make payments, so is the case with crypto casinos. But here, they need to have a digital wallet to store the cryptos. Further, there should be a complete integrated software installed that will enable accepting cryptos and regular currencies. This is critical work that you have to do if you want to start a crypto casino.
There are several benefits of crypto casinos over the regular ones.
- Concealed gambling activities: Cryptocurrencies are not controlled by any Government or regulating authorities and hence, any transaction in crypto does not pass through the regular fiscal channels. Thus, your gambling activities stay a secret. This players’ anonymity is the main highlight of a crypto casino.
- No transaction fees: Deposits and payment transactions with debit and credit cards attract a fee from the card-issuing banks or financial institutions. For crypto, the transaction fees are negligible and, in some cases, not applicable.
- Fast transactions: A withdrawal from a casino in fiat currency takes between 3 to 7 business days and leads to blocking of playing funds. The same in Bitcoin is completed in less than 12 hours, and hence you can plow back the funds into gaming quickly, leading to a higher turnover for the casino.
- Safety: It is impossible to carry out a fraud with Bitcoins as it is decentralized and operated exclusively on a Blockchain node.
Given all these aspects, cryptocurrency casino is currently the hottest industry to get into.
Points to Consider Before Launching Your Crypto Casino
There are several aspects to consider before launching your crypto casino, and it is primarily related to the form of ownership.
Here are some points to be taken into account.
- Starting from scratch: The first option is going independent. You have to complete all the formalities from scratch yourself or hire a consultant to do so. The activities include devising a viable business plan after a thorough analysis, obtaining a license, and registering all the statutory documents with the regulatory authorities. The next steps are having a site developed, purchasing the required crypto casino software, contacting the providers, selecting the slot machines, and finally promoting the casino.
The disadvantage is that going through the process might be quite time-taking and expensive.
- Buy a crypto casino for sale: If you buy a White Label Bitcoin casino for sale, it is similar to acquiring a running finished establishment that does not have any identity. You can then brand it with visual content as per your wishes. It is very profitable if the software provider is reliable. Additionally, you get a product with all necessary infrastructure such as games, payment systems, a license, and more. You just need a brand and a design to get it going.
- Buying a turnkey casino website: If you want to start a casino quickly, this is the option for you. You pay for a fully finished product with the games, the site, and all the legal documents in place.
Decide on one of the avenues before launching your crypto casino.
How to Launch a Crypto Casino Business Start-up
Like any other business, the first step is to register the online Bitcoin casino and prepare all the necessary documents. Then comes in the order of priority, legal matters, various casino slots, top-of-the-line gaming content, dependable software solutions, and more.
You have to be careful while dealing with legal issues since the gambling industry laws differ between countries. You would also need a gambling license, as, without that, your whole business will be illegal.
Choosing the right software is critical too. Find a provider who has supplied software to some well-established Bitcoin casinos. The software you choose should have the following features – a wide variety of casino games, multiple language options, acceptance of many cryptocurrencies, a user-friendly payment platform, and a bonus system. However, to set the dice rolling, mandatorily choose software that is high on the diversity of games with the most attractive ones included. Turn only to trusted developers to get all these features.
Build Your Crypto Casino
Once you have initiated the process, you have to expand your operations slowly. In short, you have to go for saturation advertising and promotion. Traditional brick-and-mortar casinos are not very different from online casinos; however, the online sector clients demand much more than their counterparts in the regular industry. You have to project that your casino focuses on usability, fair gaming, compatibility with all types of devices, and reliability. Inform people that your casino has all these features.
For an online casino, you should carry out a sustained online digital marketing campaign and hire the best agencies to do so through SEO, SMM, and email marketing.
Cryptocurrencies are a rage today, and it is not surprising that the gaming industry has taken to it in a big way. If you want a slice of this lucrative pie, now is the time to launch a Bitcoin casino startup. There are various facets to be taken care of, but once you do so, profits are almost assured.