The UK online gaming market is one of the largest and most promising in the world. Residents of the country love gambling, they have fairly high incomes, so with the right approach, there is every chance of success.
That is why many entrepreneurs are interested in: how to open your own online casino in the UK
Even though online casinos and some types of gambling are officially allowed, it takes a lot of effort to be legal.
Meanwhile, the UK government favorably treats entrepreneurs who decide to open a gambling business.
Statistics show that between April 2015 and March 2016 alone, remote gambling services provided to local customers (including online casinos) generated a Gross Gaming Revenue (GGR) of £4.47 billion. This is 33% of the total gross income of the gaming industry. Moreover, online casinos owned generated 57.5% of this amount, and remote bets – 35.1% of the total gross gaming income.
Research conducted in 2023 shows that 32% of Britons gamble at least once a week. Wait a minute, that’s 1/3 of the entire population!
Thus, it becomes obvious that it is realistic to conquer the market.
Formation of company goals
In order to open an online casino, you must not only demonstrate knowledge of the market and understanding of the target audience, but also formulate the immediate needs of your company for development or services that will create new value in the industry and fill existing gaps.
Online casinos in the UK are recognized as legal, which is probably why far-sighted entrepreneurs understand that this opportunity should be used.
In order to obtain a license for online gambling in the UK, operators must provide all the necessary documentation to demonstrate compliance with all regulatory requirements. These licenses are not cheap, but experienced operators know that they are worth the money and effort in the long run.
The provision of online gambling services to customers in the UK is regulated by the UK Gambling Commission (UKGC). As of November 1, 2014, online casinos are required to obtain a remote license from the UKGC. This gives them the legal right to operate and promote their services in the local market.
Obtaining a license in the UK is also important if you plan to work with established gaming content providers such as Microgaming and NetEnt. The fact is that they cooperate exclusively with licensed operators.
To obtain a license to open an online casino in the UK, the operator needs to submit an application to the UK Gambling Commission and prepare a number of documents.
First you need to make sure that all requirements are met. As a rule, a license is issued within 16 weeks from the date of application. It is highly recommended to consult with a local lawyer to simplify the procedure and increase the chances of a positive decision.
If you are not a gambling operator but are involved in the development and maintenance of gambling software, you will need a separate operating license.
Operating licenses are usually perpetual. Personal licenses are valid for five years, but must be renewed.
Operating licenses in the UK can be of the following types.
Please note that if you want to operate not only in the UK, but also in other countries of the world, you need to obtain licenses from other jurisdictions, such as Malta and Curacao.
The first step is to complete the UK Gambling License Application and submit it along with the required documents to the UKGC.
It should be noted that the commission strictly adheres to the rules and standards of licensing. The list of main principles on the basis of which a license is issued is called the license terms or LCCP. The General License Terms of the LCCP may be applied by the Gambling Commission to an individual operating license or to a category of operating licenses.
According to the LCCP guidelines, an applicant for a UK gambling license must meet the following criteria:
The cost of obtaining a gambling license in the UK
The amount of commissions for running a gambling business of any kind depends on various factors, including annual gross income, type of business, or even the number of enterprises.
In order to open an online casino in the UK, you need to prepare a business plan. This is not only a kind of assistant for operators, but also a mandatory requirement for obtaining a gambling license. In addition, this “tool” will serve as a convincing argument in negotiations with investors.
What is a business plan and what does it include? It consists of several sections.
Purpose and mission of the project
Just wanting to enter the market will not be enough. You need to clearly state the goals of your business. In addition, you need to describe the structure and organization of the business, provide a brief analysis of the target market, think over and specify the marketing and sales policies of the company.
Draw up a clear structure for your business, indicating the form: partnership, company or limited liability company. Provide information about asset owners and other key stakeholders. This section should also include a personnel selection strategy.
Designate the predicted payback period and profitability of your project. Calculate expected returns for (at least) the first three years of your business. Please note that this section can be the deciding factor for your investors!
Work out a financial plan, financial contribution, projected annual profit, reaching full self-sufficiency, projected cash flow statement, accounting report.
When choosing software, make sure that the platform you choose fully complies with UKGC requirements. This:
Casino compliance with security standards;
Providing information about financial transactions, player accounts, game rules, winning probability;
Information about responsible gambling;
Reality check, etc.
Like residents of many other countries, British players prefer slots.
If we talk about specific providers, then there are no specific preferences. The main thing is to choose suppliers who prioritize high quality and a wide selection of games for every taste.
Currency and payment systems
Most often, British players use such payment methods as:
It is worth saying that Bitcoin is a legal payment alternative that is recognized by the UK Gambling Commission.
Marketing and promotion
Because online casino activity in the UK is legal, you can promote your project in any way possible! For example, advertising in social networks, radio, television, Google Ads, etc.
In general, starting an online casino in the UK requires some preparation and legal knowledge. However, be sure that “the game is worth the candle”!
The specialists of our company, who have many years of experience in the gambling industry, are ready to become your reliable partners. We will help you open an online casino in the UK! With us, your path to success will be easier and shorter!
I want to receive news in the post
I want to get the news on TELEGRAM!Subscribe to our channel