Since gambling is legal and nontaxable in the country, almost 20 million Canadians participate in online gambling every day. Provinces such as Alberta, British Columbia, Saskatchewan, and now Ontario have seen its economic effects and have taken advantage of the growing gambling industry. If you want to start an online gambling site in Canada, this is the perfect time to do so.Check out this link if you are wondering where to play Slingo.
To begin with, it would be good to become familiar with and well-versed in how an online casino works. If you are looking for a trusted site that can help you, visit https://casinocanada.com/
Kevin N. Cochran, casino expert, and project manager at Casino Canada, has compiled his top tips on how to start an online gambling site. Learn more about him through his page.
Online Gambling in Canada
During the pandemic, the market size of Canada’s gambling sector dropped from $14.97 billion in 2019 to $12.54 billion in 2021. The results showed the pandemic’s negative impact on Canada’s economy, but it is expected to change this 2022.
On April 4, Ontario became the first jurisdiction to take bets in an authorized private online gambling market. Experts say that the projected revenue of iGaming in Ontario will be $800 million in its first year on the market
How to Start an Online Gambling Site
Entering an industry is not easy and should be well thought out. You should be willing to invest a significant amount of money and time in your business, especially if you want to start an online gambling site.
Our expert recommends taking into account the below list of indicators for a high-performance casino business.
1. The Right Service Provider
The ultimate rule is to pick a trusted and experienced gaming software company as a service provider. Microgaming, Net Ent, and Playtech are just some well-known software providers globally. A partnership with them will be expensive, but players trust these companies, and they can guarantee many potential participants.
Gaming software development companies or Business-to-Business (B2B) Companies are two partnerships that one can choose from. Picking the partner that is best in its niche not only provides the owner with high-quality games but will also help in running the site’s operations smoothly.
2. Payment Methods
One way to attract potential players is by having various payment methods available globally on your site. Most online gamblers prefer casino sites with instant deposit and withdrawal, low transaction fees, and modern payment methods like cryptocurrency. Payment transactions on the casino site should be trustworthy, safe, legal, and accessible.
The most popular payment methods are Credit and Debit Cards, Bank transfers, E-wallets, Online Payments, and Money transfers.
3. Casino Game Options
Some of Canada’s favourite casino games are as follows:
- Table games
- Sports betting
Take note that individuals who are above 18 are the only ones who are legally able to participate in gambling, and most of the players are male. Use this information in picking games that are most appropriate for your audience.
Expert’s tip: live play with virtual dealers is a current tendency that can greatly enhance the gambling experience of the participants. Players also look for games with easy-to-understand terms and conditions as well as language availability. Remember that the higher the quality and newer the games on your site, the more players you can attract.
4. Business and Marketing Plan
A business plan is where we set goals and objectives and write down steps for how to achieve them. Meanwhile, a marketing plan details how you will introduce and market your gambling site to your intended audience.
Research and provide games that will interest the potential customers. Most casinos focus on promotional bonuses and creating innovative sites with high-quality graphics. With this information, it’s best to set up a marketing plan for how to attract these players to register and play in your casino.
While gambling in physical and offshore casinos is legal, operating an online casino site based in Canada without a licence is unlawful. To be authorized, apply for a permit from regulators and gaming authorities in your jurisdiction.
There are different requirements and procedures to be a legal online casino. For example, the Kahnawake Commission is a well-known gaming licensing authority in Canada located in Quebec. Getting a CPA from them can cost $25,000.
Like gambling itself, the online casino business is also risky, but the industry’s high-profit potential makes it attractive to investors. Get a reliable partner, study the online casino carefully, and become one of the top casinos in Canada and globally!