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Setting up an Online Gaming Business

Apr 21, 2017

It is hard to deny growth of the online gaming business industry. World’s largest gaming industry territories are North America and Asia-Pacific. Are you ready to be involved in more than 2 trillion U.S. Dollars industry, and start your own online gaming business?

Below you will find a short checklist what you need to know as an entrepreneur when entering the online Gaming industry:

1. Analyze the market and its tendencies.

Due to the increased interest in online gambling games, every online Gaming category has now the biggest players. Dunder, Betway, Slots Million, Cozyno – if these names mean nothing to you, it is important to conduct a thorough research. You should know where the gaps in their specialization are. How can you become better than one of the market leaders? Do not forget that investing in major regions will almost grant you profits but competition there is also higher. This is one more reason to analyze and compare markets and to decide which one suits your future business the best.

2. Choose a technology provider.

To develop or not to develop? This step matters depending on the fact whether you have your own development team or need to hire one. After researching the market, you ought to know which software provider will work for your business. What has to be considered about your future contractor?

• Meeting all your requirements and knowing what you, as a customer, need is a must;

• Software company should provide you with a built-in payment module;

• Insurance and service support for post-purchase administration of the game process;

• Withdrawal of funds.

Also, do not forget to check whether software development company knows the field you want to work with. Understanding client’s needs should be crucial for them.

3. Formation and registration of your company.

Now is the time to choose type of your company. Register your business in accordance with the most suitable legal form. It is very hard to choose the optimal form of your company, and in this case, you should better use the services of professional contractors. Forming a company is mostly easy in offshore zones because such destinations pursue a goal of attracting as many investors and entrepreneurs as they can. However, obtaining a gaming license might be more complicated but it has to be done for your company to function in legal scope of the chosen jurisdiction.


4. Gaming license for your business

Before starting your work and launching online gaming platform you are expected to check whether you need a specific license for your type of business. In case it is needed you shall obtain a respective license. Every jurisdiction functions with different licensing rules and it is rather complicated to check out all the necessary requirements and procedures before going for it. For example, to set up an online gambling business in the UK, you are required to get a personal management license and an operating license. Depending on jurisdiction, getting a license may take from one month up to a year. After registering a company, it is important to think of a way to get a license for your gaming business or to contact Offshorelicense for an appropriate consultation in accordance with your request.

Offshorelicense as an experienced corporate service supplier recommend the following jurisdiction for online gaming license obtaining:

• Costa Rica

• Gibraltar

• Malta

• Curacao

• Antigua and Barbuda


5. Choosing a reliable payment system provider

Security of your payments inside the game matters both for business and for its customers. Trusted payment system provider will be an important argument for players to choose your game platform. Online gaming business is based on having safe and fast transactions, broad functional which includes multiple currencies and access to merchant accounts and, of course, user-friendly and flexible. If your payment system provider meets all these requirements, do not hesitate to enter in relationship with it and do not forget to sign a contract. To sum up, establishing an online gaming business is a worthy idea but you have to put up a great deal of work into this process. Getting a license, registering company, creating a marketing strategy and constantly developing your business – everything should be done thoroughly. However, running an online gaming business is an interesting process that will keep you engaged in your entrepreneurship for a long time. And Offshorelicense Ltd is ready to cover your back in all technical moments of diving into iGaming.

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