The online casino industry has seen significant growth in 2022, with the global market now expected to grow at an average annual rate of 11% through 2030. With that in mind, Yana Khaidukova, managing director at Slotegrator, reviews how to open a top online casino in 2023.
The pandemic, the geographic expansion of gambling legalization, and the growth of online promotion opportunities for gambling businesses gave a strong impetus to the development of the iGaming market. The sheer profitability of iGaming is prompting numerous entrepreneurs to consider starting a business of their own. In 2022, market research firm H2 Gambling Capital, which analyzes the gambling market, shared that worldwide iGaming revenue should reach $117 billion in the next 5 years, more than twice the number for 2018.
As more and more countries begin to recognize the economic potential of the gambling industry and regulate the sector, more markets are popping up across the globe at an astonishing rate. At the same time, the impressive speed of technological innovations in everyday life is erasing the business horizons that existed in the past, leaving behind a wide range of opportunities for long-term projects and smart investments.
Here’s how to open a top online casino in 2023, according to the experts at Slotegrator.
If you fail to plan, you plan to fail. First, you need to define the target market, make a detailed business plan (which you also need in order to obtain a gaming license), create a financial plan, learn all about the regulations of your target market, and obtain a license. Careful planning is an important stepping stone to success.
Getting a license
Legislation governing the gambling industry varies from jurisdiction to jurisdiction, and sometimes even varies within the same country.