Setting up an online casino business can be extremely complicated, however Slotegrator is helping its clients to enter new and regulated markets through its business advisory services, explained sales lead Ayvar Gabidullin.
iGaming is a global industry, and there are plenty of markets to set up shop – with the number of regulated markets growing rapidly. At Slotegrator, we are offering all the products and services that potential operators might need to get their business going.
When setting up a new business, you first must select a target market. From mature markets in Europe to emerging ones in Latin America and Africa, there is plenty of room for new iGaming platforms.
So first things first, you need to analyse the global iGaming market and select a target market that suits both your resources and goals. You should start by evaluating the country’s populations, average income levels, internet connectivity, and cultural attitudes regarding gaming and betting.
Then, research players’ preferred verticals — some players stick to football betting, whereas others like casino gaming or poker. Creating a clear picture of your target demographic will help inform your overall strategy.
At Slotegrator, we’re helping our partners with this process through our business advisory services – offering guidance on business operations, intellectual property, compliance, and financial services.
We help our clients to prepare legal drafts for responsible gambling and AML/CFT policies; guidance on reporting, AML compliance, and advertising regulations – making sure that our partners are compliant with the regulations of each market.
A second consideration that operators must keep in mind is deploying the right platform software.
When looking at new markets, a powerful, flexible platform is an absolute necessity. Developing one from scratch, however, usually takes more time and money than it makes sense to spend. Turnkey and white label solutions can get the platform up and running fast without breaking the bank.
For iGaming newcomers, turnkey solutions are the complete package. Software providers create the online casino or sportsbook platform and operators customize the website’s fronted with their own branding. The website is run under the operator’s corporate structure and license.
Our Turnkey solution equips operators with everything they need to get their project up and running fast, including a platform, game content, a bonus system, SEO tools, adaptive web design, a full range of payment methods and more.
More experienced operators sometimes opt for a white label solution. A white label casino is a readymade platform that only needs the operator’s branding and operates under the software provider’s license.
Once you have selected your platform, the next thing you need to do is content, games and payment systems.
On the content side of things, slots are a common-sense choice – they’re engaging for players, and can help differentiate your offering. But there are a number of other casino games that players look for. Card games like blackjack and poker are massively popular, as are European and American versions of Roulette, and live casino revenues are skyrocketing.
Then there is sports betting. Something you must consider, however, is differing player tastes – something which changes in each market. Lotteries and bingo are also perennially popular with a variety of demographics – but make sure to keep up with the times; cutting-edge verticals like virtual sports, fantasy sports, and esports are on the rise.
Payment methods vary from market to market. Bank transfers, credit cards, and e-wallets are all widely used, and there are even casinos that exclusively use cryptocurrencies. Careful market research should indicate which payment methods your target audience prefers.
Slotegrator’s APIgrator solution integrates over 5000 games from over 75 different providers into online casino platforms in a single session, so no matter what your players enjoy, you’ll have it in spades. Meanwhile our Moneygrator solution integrates over 250 payment options for a variety of vendors for fast, smooth, secure payments, no matter what method your players prefer.
The most important thing that an operator must consider when entering a new market, however, is the gambling licence. Without a licence, you cannot operate in a market.
Some operators balk at the fees and taxes that come along with having a license. However, operating without a license creates problems that can be even more expensive in the long run. Major payment processors almost always refuse to cooperate with unlicensed operators.
That alone is reason enough to get a license; an iGaming platform simply isn’t viable without a reliable way to conduct deposits and withdrawals. There’s also the risk of being blacklisted or shut down, or even facing legal consequences.
From jurisdictional advisory services to a full suite of software solutions, Slotegrator offers everything companies need to start their own online casino or sportsbook.