BetB2B: How to open a business in the online-casino industry
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In the era of rapidly developing digital technologies, online casinos are becoming more and more popular among gambling enthusiasts.
This is due to the fact that they offer something that traditional stationary institutions do not have. Online casinos allow one to play favorite games, at any time and from anywhere in the world.
BetB2B: How many people play in online casinos and what kind of income does such a business generate?
The number of online casinos worldwide in February 2023 totaled 4,792 casinos and online gambling establishments, which is 4.3% more than last year. Of this number, online casinos themselves reach 2,000. The income of the most successful of them exceeds $10 billion a year.
Here are three leading online casinos that dominate the global market:
- Flutter Stars Group worth $5.28 billion;
- GVC Holdings – $4 billion;
- Bet365 – $3.5 billion.
Proof that online casinos are convenient and accessible is that 96% of online gamblers prefer to play from home. At the same time, 55% of users play from a mobile phone. Of these, 12% choose to do this while on their way to work. Of course, this position was expressed by players from big cities who get to their workplace by public transport – by bus or metro.
Another important reason why people choose online casinos is the ability to pay with cryptocurrency. This method allows to carry out secure and anonymous operations, as well as complete transactions in a short time.
Judging by the popularity and quite attractive economic component, many businessmen and those who want to open their own business are definitely thinking about the iGaming industry. But starting a project in an online casino is not as easy as it might seem at first glance. Here companies need to write a detailed business plan, taking into account all the features of the online gambling industry. A team of experienced professionals from BetB2B can help with this.
BetB2B: How to start an online casino business?
When choosing a direction in the online casino business, first of all companies need to decide how to start activity. It is important to consider that if a new company starts as an iGaming casino operator, they need to be prepared for serious expenses and complex licensing requirements. And yes, already at the start they should understand that online casinos are far from a simple business, with high costs and numerous rules.
Online casino business also has its advantages. Ultimately, provided that clients accept the project in the gaming industry, its owner will be able to make a good profit, but, of course, not immediately.
It is necessary to take into account that a successful online casino business requires significant investments in advanced technologies. The casino must offer innovative and exciting games, as well as an attractive bonus system and marketing promotions. It is also important to ensure compatibility with different devices.
BetB2B specialists offer a detailed analysis of each step to launch an online casino.
1. Market analysis of the iGaming industry
Conducting in-depth market analysis has always been a key aspect of successfully starting and running a company. Before making any decisions, the BetB2B team suggests reviewing detailed information about the target market, competitive landscape, licensing requirements, costs, benefits, restrictions and current trends in the casino world.
Despite the apparent appeal of running an online casino, it is worth remembering that competition in this area will be fierce. Together with the newcomer, hundreds of other operators will fight to attract players to their websites. Therefore, before starting a business, companies need to have a clear idea of the target audience and potential competitors.
– If your plans include launching an online gambling business and entering the market, it is important to first understand what content and features are of interest to players, – say BetB2B.
Having information about the market, its consumers and competitors, they can safely take the second step towards launching online casinos.
2. Choosing a development path for an online project
In order to develop in the iGaming industry market, companies need to choose a so-called flight path. There are two movement options here.
- Creating own platform involves developing a project from scratch, together with a team or through outsourcing. To do this, a novice online casino business needs to think about creating a full-fledged platform, obtain the necessary licenses, register a product, and integrate with various game providers and payment systems. This path gives complete control over all aspects of an online casino, but it also requires a lot of time, money and effort. But there is another way of working.
- Cooperation with a ready-made platform provider. If a businessman chooses this option, then they are provided with a sequence of solutions for successfully launching and managing a business. A platform provider such as BetB2B Turnkey Solution will take care of everything including analytics, marketing, payment systems and risk management. Choosing the second path can greatly simplify the process of starting and managing an iGaming business.
BetB2B emphasizes that each of these options has its pros and cons. And the choice will depend on the goals, resources and level of readiness of the aspiring entrepreneur.
3. It is important to choose a reliable supplier
There are several key factors to consider when choosing an online casino software provider. Experience, deep knowledge of the industry, the ability to scale and experience working with various casino brand management models – all these parameters play a decisive role in choosing a partner.
Also, don’t forget about critical aspects such as quality support, effective marketing solutions, content management and localization strategies.
At this stage, a team of industry professionals – the BetB2B company – can easily help a newcomer. Its employees know and understand exactly what is needed to open and further develop a successful online casino. And they are ready to share their experience with novice players in the Internet gaming industry.
4. Selecting content for online casinos
In iGaming, it is important not only to provide entertainment and excitement for players, but to keep them interested. Therefore, in order to attract and keep the players loyal to an online casino, companies need to include a variety of content in its range. It should be aimed at a mass audience and take into account the individual interests of players. Skill-based games are becoming increasingly popular today, including genres such as fishing and hunting. These gambling entertainments are able to retain players and spark their interest. Original classic games such as roulette, slot machines and bingo also remain trendy.
BetB2B can help enrich the portfolio for beginners.
– We provide a wide range of games including baccarat, roulette, blackjack, bingo, slots and skill-based games available from multiple providers through one integration. Our collection is constantly updated with new additions from global and local suppliers, including fresh and innovative games for different markets,– they say in the company.
5. Payment should be convenient, reliable and secure
Access to reliable and secure payment methods plays a key role in the operation of an online casino. It is important to provide a variety of payment options. BetB2B is actively developing the online gambling environment. The company offers a wide range of payment methods: e-wallets, bank transfers, cryptocurrency, as well as alternative and local options such as cash and mobile payments.
– We also provide recommendations on the best payment methods to use in the target market. This gives online casino players a wide range of opportunities to make digital, regional and global payments in a secure format, explain BetB2B specialists.
6. Creating a website for an online casino
Website development can be a challenging task for beginners. It requires making a lot of decisions and choosing the right approaches. It is important that the navigation on the site is intuitive and user-friendly. It is also necessary to ensure that the resource is compatible with various devices. Online casino websites should be accessible and easy to use.
BetB2B provides flexible solutions, including Turnkey Solution:
– This allows your users to choose the most convenient way to access the casino. We also provide tools to strengthen and grow your online presence, including a compact CRM system, back office and a variety of bonus features.
7. Advertising and marketing are key components of a successful business strategy
After establishing the basics for a successful online casino, the next step is to attract players to the website, retain them and increase profits. To achieve all this, BetB2B advises to adhere to the following marketing strategy:
- Bonuses and promotions. Providing a variety of incentives such as welcome bonuses, deposit bonuses, loyalty bonuses, gamification, free spins, promotional codes and jackpots helps attract and retain players.
- Affiliate Marketing. Using affiliate programs and collaborating with other companies allows to expand audience and increase profits.
- Marketing tools. For an online casino to operate effectively, there must be a marketing plan. It includes a package that will help attract and retain players: paid and free advertising, pop-up notifications, SMS, direct correspondence and email marketing.
- Retargeting tools. Using retargeting on social networks and actively interacting with players helps maintain interest and keep them on the site.
- Customer relationship management (CRM). Multilingual and feature-rich management tools allows to better understand player behavior, improve loyalty and create personalized campaigns.
- Loyalty programs. Regular players receive rewards through loyalty programs. This approach serves as an incentive for them and helps keep them on the site.
BetB2B believes that it is important to create a comprehensive marketing strategy. It must combine different approaches and tools to attract new players and retain existing ones.
Creating an online casino with the necessary components for success requires cooperation with a professional and reliable partner. The BetB2B team is always ready to advise iGaming company:
– With our online casino solutions, starting an iGaming business becomes easier and more affordable. Easy integration, a wide selection of content for different types of players, advanced marketing and bonus tools, and expert support are fully accessible through our all-in-one platform.
Thus, to successfully run a business in an online casino, its participants must be ready to invest not only money, but also make every effort. And professionals from the BetB2B team will always help guide them in the right direction.
