Working from abroad has never been as popular as it is today. In 2020, more people will try to start a business from Bali, Thailand or Colombia, and live the “nomad lifestyle”. While it is relatively easy to run a travel blog from wherever you are, how about an online casino? Ultimately, casinos are supposed to be cash cows, but it is realistic – or even possible – to set it up as a digital nomad?
White label casinos for the win
Online casinos are complex, and you need more than just a good domain name to get started. As one of the most competitive industries worldwide, customers expect a lot from you. Whether it’s game selection, payment processing, customer support, and player retention – building an online casino from scratch by yourself is nearly impossible unless you have a couple of millions in the bank.
The solution is called customisable turnkey solutions. Companies such as SkillOnNet offer what is called white label casino solutions. With that, you receive a functional online casino with access to over 3000 games, in-house gaming development, reliable payment processing, as well as an experienced CRM and customer support team. It means that you’re basically launching a sister site and, in return, pay a small fee to SkillOnNet for the services they provide.
SkillOnNet provides you with a valid gambling license
What’s more; SkillOnNet also provides you with a valid gambling license from Malta, Denmark, UK, and Sweden, making it legal for you to offer casino games to players in these regulated markets. Obtaining such licenses yourself, especially while abroad, is a huge task and risk, as the regulatory bodies such as the Gambling Commission is very strict about the requirements attached to the permit. If you fail to comply with any of the conditions, you quickly face fines in the seven figures.
What are the most lucrative markets
Now, when launching a business, the one question most entrepreneurs are trying to answer is where to make the most money. You need a big-enough audience to make your investment worthwhile and ultimately generate a high ROI.
Luckily, gambling is popular around the world, so you cannot really go wrong. Generally speaking, the UK and Ireland are big, regulated markets with a large target group. However, it’s also where the competition is the highest so expect a lot of other online casinos that offer the same product. People in South America also love to gamble, and there is definitely still an opportunity in these countries. However, payment processing is a bit more tricky over there, which might impact your return on investment.
One thing to be aware of are restrictions to online gambling. Australia, for example, banned online casinos from operating across the entire continent, so that it probably not a market you would want to enter, and the United States, although slowly becoming more relaxed with their rules and regulations, is still a bit tricky.
Long story short; it is possible to start your own online casino while living the digital nomad lifestyle, but it requires considerable time and money investment and comes at a risk. If you decide to go ahead, choosing a white label solution is the way to go.