The word ‘quarantine’ has become a term that everyone in the world is well aware of. The inception of the COVID-19 virus has changed the way people live their lives and personal space has never held such a high value. The way we think, the way we behave, our daily routines… all of it has been rearranged in the face of this invisible killer.
Some industries, including the casino industry, have either flourished or failed. Brick-and-mortar casinos have incurred massive losses due to the pandemic. With most countries enforcing various containment rules and social distancing, casinos were obligated to close their doors; many for good. This left a need for people confined to their homes to resort to other means of gambling enjoyment. Hence, the surge in online casino traffic. This has, of course, led to a huge boom in new online casinos and casino news sites.
2020 has seen the world change completely. Although the hope is still strong that things will soon be back to normal, the reality is that this virus could very possibly have changed the way people behave in the future. Casinos have become an unnecessary risk, and the benefits of online casinos are beginning to outweigh their live counterparts.
Entrepreneurs’ interests have been piqued, and the possibility of getting their foot in the door of this very lucrative industry is extremely attractive. With such a positive outlook for the future, now is certainly the time to make a go of it.
Looking at the fierce competition, you need to set realistic goals and targets that will set you apart. What games would you like to offer? Who is your audience? What will your website look like? These are all questions you need to answer to build your brand and ensure your casino will be marketable.
This decision is probably the most important, seeing as you are going to be entering into a long-term relationship with this provider. Along with your payment services provider, this is a decision that you have to be 100% comfortable with. Look for flexible, fully customizable software solutions that give you control over the entire process, from design to post-launch. There are also white-label solutions that allow you to lease the software, gaming licence and payment processing system if you so choose. From here, you can operate your casino under an established turnkey infrastructure.
The gaming licence gives you authenticity. Without this, your casino will be operating illegally. You will need to see what the requirements are for the area from which you will be operating, however, there are popular gaming jurisdictions like Curacao, Malta, Alderney, Isle of Man, and Gibraltar that offer licences for many countries. But in the end, the local legislation will always prevail and be imposed over any international law.
Because casinos are considered high risk by banks, a high-risk merchant provider should be sought. There are loads of factors to consider when selecting a merchant account provider, but with so many options available to you, it’s a good idea to look at companies specialising specifically in casino merchants, such as Octapay. As the leaders in online gaming, they would be the right choice to guide you through this step of the process.
With all of these seemingly daunting tasks ahead of you, make sure you get one right. Use Octapay for your payment processing needs. With their customised service and personal touch, you will never feel like you aren’t their number one priority. Give them a call. They are always happy to help with any advice, even if you end up not using their services. Their years of experience in the gaming sector has seen them adapt to the times and trends of the industry. It’s a partnership that you will never regret.