Currently, around 6.2% of all adults in the UK hold cryptocurrency. That’s approximately 4.2 million people with digital assets in their hands, and most of these assets are Bitcoins. Considering the almost half of the population in the UK gamble on online casino games, starting a BTC casino business is the best way to tap into that massive pool of potential profit.
Bitcoin online casinos give players that sense of anonymity when gambling that no other gambling platform can. The casinos might not even ask you to register an account to play your favourite slots or table games.
What’s more, as a cryptocurrency based on blockchain technology, Bitcoin is impervious to hacker attacks, making the transactions far safer and considerably faster.
Bitcoin casinos are no novelty on the gambling stage and are going deep into their bags of tricks to stay ahead of the competition. Take BC.Game for example and their Degen Pass NFT that grants players access to unique games. Stake.com runs special challenges and weekly promotions that boost player retention considerably.
Stay tuned to learn more about how to launch a BTC casino and help it become the talk of the town.
Tips on starting a crypto casino business
Launching a crypto casino business is no small feat as there are multiple factors to consider. Let’s discuss those factors in more detail below.
Get a local casino gambling license
To operate an online casino legally in the United Kingdom, you need to obtain a remote gambling license from the UK Gambling Commission. The regulator issued several amendments to the gambling regulations to allow people to gamble using Bitcoin. In fact, as per License condition 5.1.1 of the “License Conditions and Codes of Practice”, Bitcoin has been included with cash payments, making them their equal.
However, to use BTC as a form of payment, licensees need to review their AML risk assessment and provide information about the holders of crypto funds and reports on security audits that ensure players and their funds are protected.
Obtaining a remote casino license from the UK Gambling Commission requires an assessment of suitability from the regulator. The assessment involves detailed checks of identity and ownership, finances, integrity, competence, criminality, and ultimately paying a fee for the license.
The fee is set according to your earning bracket that’s based on the gross gambling yield (GGY), so the more you earn, the bigger the annual and application fee. For example, any operator with a GGY of £550,000 or below will pay an application fee of £4,224 and an annual fee of £4,199.
Develop an online casino website
As a future BTC online casino owner, you need to think long and through about your site’s design and user interface. BTC casinos with a particular theme or a mascot, or any other aesthetically pleasing detail usually generate quite a buzz among players. Also, easy navigation and responsiveness are two other crucial factors to consider during the site’s design process. Finally, your BTC online casino must be optimised for both desktop and mobile devices in order to cater to the growing number of people enjoying gambling on the go.
Choose software providers and add games
A BTC online casino is only as good as its game portfolio, which makes choosing the right game providers more important than ever. Some of the world’s leading crypto casino game developers include Big Time Gaming, NetEnt, Play’n GO, and Playtech.
In recent years, provably fair games have taken over the crypto casino arena by storm. These games allow users to verify the outcomes of each round and thus make sure everything is completely fair. These provably fair games are just like slots and other regular RNG table games, only with an added feature that attracts a lot of casino players.
However, most operators have opted to use Turnkey or White Label casino solutions from aggregators which not only integrate thousands of BTC-friendly casino games, but also provide the platform, make it cross-compatible, multilingual, and perfectly adaptable to all popular cryptos, not just Bitcoin.
Furthermore, casino aggregators offer integration of payment systems, bonus standalone systems, hosting, and promotion services through their product suite, making them a one-stop shop for every BTC online casino.
Add crypto payment methods
When gambling with Bitcoin, one needs to consider the financial elements of each transaction, such as the transaction speed, fees, and how those elements will impact the players. Teaming up with a crypto wallet that can ensure players don’t have to foot large transaction bills is a great starting point. Moreover, you need to diversify the crypto payment options and integrate as many crypto coins as possible, such as Litecoin, Bitcoin Cash, Dogecoin, USDT, Ethereum, and other vastly popular ones.
Conclusion
Running a crypto online casino business can be quite profitable in the long run, but it does require starting funds. First, the registration of your company with the help of a consulting firm can cost up to $5,000, depending on the jurisdiction where you want to launch your company.
The game integration can cost between $200 to $5,000 per game, so a more affordable option would be buying games in bundles. This way, you can integrate up to 10,000 or more games in a single unified API process that can instantly provide the game diversity you are after. What’s more, online casinos are required to pay all the commissions and royalty fees to providers should they opt for integrating directly through their system, rather than game aggregators.
Next stop is the licensing procedure. The cost of a license from Gibraltar is around $3,000, whereas Antigua & Barbuda charge up to $200,000 a year for the license.
Ultimately, you need a software company to handle your website development and back end. The services cost more than $3,000 per site, not including the maintenance fees and support.
Still, with the growing number of crypto casino players and the nature of gambling, potential returns can be outstanding, despite the initial costs, which is why so many BTC casinos have sprung up like mushrooms in recent days. It’s your job to make the site stand out from the crowd.
Please play responsibly. For more information and advice visit https://www.begambleaware.org
Leave a Comment