How to start a crypto casino that’ll engage even avid gamblers
Before a ‘how’ question comes a question “Why?” Is there at all the need to move in the direction of crypto casinos instead of voting for good old fiat currencies? Is a gambling software trend worth the investments, or has it already changed its status and turned into a new normal, not the innovation?
We’ll do our best to shed some light on the crypto casino concept and its pros (spoiler: there’s plenty of them, just keep on reading).
A key differentiator when we’re talking about crypto casinos is the use of digital assets as a means of payment. So it’s all about online casinos that leverage such decentralized digital currencies as bitcoin or ethereum.
Whether a wager is a win or loss, players utilize an in-house wallet for crypto currency transferring. But is it at all convenient, having all chances to be a worthy replacement for the traditional online casino payment method?
Advantages of crypto casinos
Why are more and more online casino operators willingly moving to crypto despite the common myth that new methods and challenges are usually received with apprehension and scepticism?
Mind the primary reasons:
- Crypto payment operations are secure
- Cryptocurrency favors transparency
- Faster operations are guaranteed
- Cryptocurrency is more inflation-resistant
What about the main source of the casino revenue – keen gamblers? Crypto casinos offer some perks for players as well.
- A high level of anonymity sounds attractive when you’re a compulsive gambler
- No hidden taxes implied in case of crypto payments
- Safety and transparency of crypto operations are highly appreciated not only by operators, but also by players.
Apart from the risks and limitations already mentioned above, there are some other hardly pleasant repercussions, such as:
- Hefty fines
- Shutting your business down
The severity of legal punishment is governed by the jurisdiction where the unlicensed casino is registered, so don’t underestimate the law when ignoring the license procedures.
Any drawbacks or hidden pitfalls you need to know?
Not so many, actually. As cryptocurrency doesn’t have a central authority, being backed by decentralized networks, it’s hard to predict how a government’s attitude towards bitcoin, ethereum, litecoin, or other cryptos will transform in the future.
Generally, all new tech and approaches entail certain risks due to their understudied nature. But when utilized correctly, crypto opportunities will make online casino operators leaders in the industry.
The only question remained unanswered during the crypto casino discovery phase – is it legal?
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Law-compliant crypto casino: what are the rules?
Before starting a bitcoin casino, or any other crypto involved in operations, one should clarify all legislation regulations. While in general, not all cryptocurrency gambling issues imply clear-cut standards, be aware of a couple of common statements when studying the question of crypto gambling legality:
- No laws to track or regulate crypto gambling
It means that there’s neither official prohibition nor permission to use crypto for wagers.
- Flexibility in the attitude of government authorities
The opinions of the organs of power rapidly vary when it comes to bitcoin or ethereum. Today’s tendency among a significant number of countries is to negotiate the regulation of crypto currencies.
- Licensing under a jurisdiction is possible
There are some jurisdictions that have made a decision to issue gambling licenses to the casinos relying on cryptocurrency, which serves as an evidence that they are looking after all crypto operations on the corresponding websites.
Anything else about the licensing process? It’s vital indeed when you start your crypto casino, that’s why it’s taking the first place in our to-do list for launching a crypto gambling business.
5 things to do to ensure a nice start to your crypto casino
1. Get a gambling license first
Going on with the afore-mentioned question of legality, if you ignore this step, you won’t be considered a legal institution, which is accompanied by the risks of huge penalty charges.
To make the process easier for you, feel free to look through the info on the Curacao gaming license that’s considered one of the most popular and easy to gain. We’ve collected its advantages for a gambling business and some FAQs related to the importance of getting the license.
Our team is ready to convince you otherwise! Just drop us a line, and we’ll ease your way into getting the license.Contact us
2. Carefully select your tech partner – a casino software developer
Don’t rush when choosing a trusted collaborator – there’s much at stake. We suggest taking time to explore whether your potential gambling software providers have a solid reputation on the market and have tried-and-tested products.
3. Win the audience with a rich assortment of gaming options
The wider selection of games you offer, the better loyalty of your solution’s end users you’ll experience in the short run. Even if the user experience is impeccable and a gambler is astounded with a crypto casino interface, they’ll hardly be impressed with several games as they quickly get bored.
So play with forecasts and make a vast variety of casino games your competitive differentiator.
4. Deliver a great user experience
A user should get an opportunity to instantly access the casino website from any device, a second after he or she thinks about making a bet. Don’t forget about multiplatform reach – when your crypto casino has a mobile app or at least the website perfectly optimized for mobile, chances to reach a wider audience grow higher.
5. Payment terms: the more payment methods, the better
There’s no need to be limited by cryptocurrencies such as bitcoin or ethereum when you intend to launch a crypto casino. As the main goal is typically to attract as many players as possible, give them a freedom of choice in terms of payments.
Consider traditional payment options including credit cards or deposits – this is likely to attract more conservative gamblers who are still wary of crypto. Moreover, if they start with fiat currency, it does not necessarily mean they’ll never use bitcoin for payment.
How long will it take to create a bitcoin or ethereum casino?
Our team won’t make you wait long – if you’re ready to start a crypto casino, our online casino software developers will help you launch a reliable solution in 30 days!
Only one month of effort, and a turnkey casino goes live.
More info about each development and implementation stage will be eagerly provided upon your request – just fill out the contact form or DM us, and we’ll provide you with the answer within one business day!