Your Step-By-Step Guide to Starting an iGaming Business

iGaming might not be a term that many people are familiar with, but for people in the online gambling industry, it’s the banner that they fly. The term iGaming covers any kind of gambling that takes place in an online setting, like playing at an online casino or betting on your favorite sports team through an online platform. The tech that drives online gambling improves and evolves at an incredible pace. AR, VR, AI, process automation, blockchain currency, the metaverse, and many more programs, technologies, and software have been changing the iGaming scene for decades now. 

The bar that is being set in the industry today makes good use of all this tech to provide players with the kind of immersive and personalized experience that they all really want. That bar is a high one, and meeting it can be a daunting thought if you’re new to the world of iGaming. That’s where DSTGAMING come in. DSTGAMING has everything you’ll need to get your iGaming business off the ground, including our step-by-step guide to starting from scratch.

First: Understand Your Industry

Since the iGaming industry grows and changes so fast, it’s vital that you have a good handle on the statistics in this field. Staying up to date on the latest relevant tech developments and keeping an eye on both statistics and predictions for the iGaming industry will stand you in good stead moving forward. Statista has the following to say about iGaming in 2024:

• Revenue in the worldwide iGaming market is projected to reach US$97.15bn in 2024.
• Revenue is expected to show an annual growth rate of 6.47%, resulting in a projected market volume of US$132.90bn by 2029.
• The number of iGamers is expected to reach 290.5m by 2029.
• The average revenue per user (ARPU) is expected to amount to US$0.44k.
• In global comparison, most revenue will be generated in the United States (US$24,980.00m in 2024).

Subscribing to the top publications and staying on top of developments that come in thick and fast are essential to your ability to compete in the iGaming industry.

Things to Consider

1. What kind of casino are you starting? You could choose to focus on a niche, like a poker-only casino, or you could choose to host a casino that offers games across the board.
2. Legalities and regulations. Casino regulations, even online, are different all over the world. If you want your business to succeed, you’ll need to have a good grasp of all these laws and regulations to obtain and maintain your gambling provider’s license.
3. A target market. Being an online business offers you an incredibly wide potential customer base, but you’ll still need to figure out exactly who it is you’re targeting and build your business plan around that. This will directly affect your marketing plan.

A Step-by-Step Guide

This is your how-to guide to getting your iGaming business off the ground. DSTGAMING can help you through all of these steps.

• Planning

That target market we mentioned earlier? This is where you’ll use that information. Planning is the first step in any process, and you’ll need to do a lot of that. Get into the mindset of your target market and mold your offering and approach to fit what they want. Define the scope and concept of your project and list all goals in short-term, mid-term, and long-term categories. Learn everything you can about the industry, and don’t be afraid to engage professionals if you need a helping hand.

• Get Your License

This is one of the trickier parts, so allow much more time than you think you need to account for any missteps or reverts. You’ll need to choose a jurisdiction to operate the business from, even though it’s an online business. Some states or countries may require that you have a physical presence (an office or HQ) in their region.

• Build A Dream Team

A business can’t run without a team to run it! You can’t be a one-man band in this regard, because few people have sufficient skill in every relevant industry (website design, accounting, app building, advertising) to manage every aspect of the business on their own, or enough hours in a day! A good team will make the pressures of starting a business seem much less daunting and the whole operation much more rewarding.

• Create Your Website

To your customers, the website is the extent of your business. It’s what they see first, and it’s how they interact with the games and content. The look and feel of that website, the experience that the customer has when they use it—these are the things that will keep them coming back time and again. A good website is safe (reliable software built by trusted providers) and user-friendly.

• Integrate Casino Games and Software

The same goes for this step as the previous one. The games you choose should be ones that will attract the attention of your target market (see step 1), and the experience of those games will hopefully keep that target market coming back time and again. You’ll likely work with a development studio here and maybe customize some of their offerings for your site, or partner with a B2B site and get what’s known as “turnkey” access to ready-to-play games. The software partner you choose here is going to be the defining feature that sets you apart or drags you down, so choose carefully.

• Market and Promote Your Business

This is where that dream team comes in! Your marketing department must use your research to create marketing content and targeted ads to promote your new business.

• Payment Processing Software

Keeping your customer’s personal details and finances safe is your responsibility. Choose a payment processing partner that is highly recommended and is compatible with your website.

What’s Left to Do?

All that’s left now is to go to market and maintain your business as it grows. You’ve got all the info you need to start your iGaming business and make it a success. DSTGAMING is here to help with anything you might need.