BetConstuct’ s Parandzem Avagyan details initial key fundamentals and logic for new market entrants planning to launch online casino enterprises. In the following article BetConstruct offers the following essential checklist for industry stakeholders….
Global online casino and gaming market is on the rise with more countries and states legalizing and regulating online gambling. The latest news that excited operators and technology providers is from the USA: on August 4, New York State Gov. Andrew Cuomo signed a bill that formally legalizes daily fantasy sports contests in the state.
Online gambling market is forecasted to increase steadily over the next three years to eventually make 56.5 billion U.S. dollars in 2018. The increase is remarkable in all aspects. Online casino industry is definitely driven by the advance of top-notch casino software that has reached an impressive point in terms of graphics and number of games offered.
Once you decide to start your own online casino, you must look for ways to stay ahead of the competition and promote your casino effectively. This means you need qualitative market research and a business plan. Starting an online gaming business without a business plan is like sailing without a compass. You can trust your gut feeling and make ad hoc changes but it is advisable to be well-armed in advance, strategically and technologically.
Technology will determine your success.
Well begun is half done! Before venturing into online casino industry, make sure you choose a software provider that focuses on the results you want to achieve in doing your business rather on what features you want to see. It should not be a ‘fast-food’ partnership. Top software providers like BetConstruct always take a unique approach to building relationships with their partners, shifting from cost-focused, transactional efforts to value-driven collaboration.
Functionalities and services such as powerful back office tools, multi-channel solution, impressive games portfolio, user-friendly interface and good customer support lay the foundation for an online casino to attract and retain players:
- Back office tools determine how easily you will be able to keep track of tasks, marketing, payment services and business practices. This applies to game integration as well.
- A multi-channel solution increases your players’ loyalty and LTV. Your players will appreciate the freedom of choice to play through any platform possible.
- A prudent provider will offer you diverse game categories. A more prudent one will also include games from top third-party gaming companies like NetEnt, Microgaming, Evolution Gaming and more.
- A ‘customer first’ focused user interface (UI) is a must for online casinos. Your players should be provided with clear and trustworthy information while playing on the casino website. A well-planned and effective UI can be the difference between a good casino and a great one!
- Your software provider must understand that you work tirelessly to grow your business and that any delay may affect your operations. Good communications with your provider is a vital element to ensuring satisfaction and prolonging the lifespan of your customers. The gambling industry even has awards to recognise excellence, and in BetConstruct’s case: the company received the EGR Award for Best Customer Service for two years running.
Effective marketing campaign will gain you players.
Of no less importance is how you plan to promote your casino. Ideally, your provider will offer you a fully-featured customer relationship management (CRM) system, a bonus system, affiliate marketing solutions and banner management upon request. These tools help you focus on the casino promotion through big data technologies and make data-driven decisions.
Your way of reaching out to your players defines your attitude toward them and your business: are players only money for you, or do you want to create a casino platform where they can spend quality recreational time?
Making communication more human is likely to increase your players’ LTV. Integrity and powerful technologies paired with a diversified games portfolio will create a win-win situation for your players and business.
Starting a business, gaming or non-gaming, requires time and efforts, dedication and vision. A good understanding of the industry processes will propel your journey growth. BetConstruct mapped out the steps you should take when starting an online casino business.
Content provided by BetConstruct
Source: SBC News