Top 7 Success Factors: How to Make a Gambling Project Profitable
A casino niche is one of the most popular and promising directions of business activity. Owning such a project can be an excellent opportunity to receive a stable income with a minimum payback period.
The main thing that a beginning entrepreneur should remember is that there is always a need for constant improvement. In a highly competitive environment, every detail matters: from the nuances of the design to the ease of navigation, the practicality of the “internal kitchen” of the platform, and the availability of seasonal promotions for VIP clients.
The Rosloto team has gathered comprehensive information on the key success factors of online casinos. We will tell you how to recoup the investment in record time, what factors are worth paying attention to in the first place, and what new products will please even the most sophisticated player.
Nuances of the Gambling Market Development: Statistics
The industry is currently legalised in more than 80 countries of the world.
The following factors can show the tremendous growth in the turnover of the niche:
- In 2016, the sector's revenue was less than 37.91 billion dollars, and by the end of 2019, the indicator exceeded 60 billion dollars. According to Juniper Research experts, in 2022, the global gambling market will be estimated at 1 trillion dollars.
- The annual revenue growth in the casino niche is about 7.9%.
- There is a full-scale targeted regulation of the gambling business.
- Expansion of territorial markets took place (in the United States, Asia, and South Africa).
- More than 52% of the global industry is accounted for by the virtual sector (land-based locations are losing their leading positions all over the world, gradually turning into an exotic adventure for people with incomes above the average).
- A rapid increase in the level of loyalty of users to online services (an interesting fact: gambling is becoming more and more popular with the representatives of the tender gender every year. According to statistics, by the end of 2019, more than 49% of respondents were women (UK-specific analytics).
Given the latest trends, a simple site with “one-armed bandits” will no longer surprise anyone. Those operators who are aimed at success and a certain level of profit must take into account many nuances.
First Impression: the Design of an Online Casino
The visual peculiarities of a platform is a presentation of the gambling business as a whole. The further behaviour of each new player depends on the first impression: users will either stay on the gaming site or instantly leave the page.
At the same time, there is no golden mean: some gamblers like the traditional classic design, while the younger generation prefers new forms and non-standard solutions. The only thing we can recommend for operators is to observe the measure.
It is worth following such tips as:
- Functional technical support. The site should load quickly and correctly display both promotional offers and text content.
- Convenient navigation. Each control button should be at hand. All elements must be located in the expected places and be clearly visible.
- Registration system. Our advice is to simplify this stage as much as possible (certainly, there should be no verification using fingerprints or the requirement for gamblers to send a scan of their passport to the support team's e-mail). The best option will be an identification service that takes place using referral links placed on social media pages.
- Search engine. This is part of the site’s navigation, which is responsible for simple and quick access to the required information. A good solution would be to sort content by providers, topics, RTP percentage, and other parameters. It is also possible to add customisable search filters.
- Interactive widgets. For example, it can be a table with the logins of today's winners, the sum of the progressive jackpot, or a reminder of the current promotion. The presence of such elements makes the gambling platform lively.
- FAQ and certificate information. A feedback form or a chat to contact the support service is not enough. Users should be offered answers to frequently asked questions, and it is also worth indicating information about all partners of the company, as well as permits and licences that were obtained by it. This data gives casino visitors confidence in the site and makes them feel calmer.
Wide Product Range
Each of the existing gambling establishments has a certain set of games that bring it the highest profit. Nevertheless, operators should not focus only on these products because customers need to have at least the illusion of choice.
Another important nuance is that entrepreneurs must definitely take into account all the latest releases. Today, we can say that traditional fruit-themed “one-armed bandits” have given way to solutions developed in completely new formats.
| Top 5 gambling entertainment in 2020–2023 | |
| Types of products | Brief description |
| Live casinos and VR technology | Today, the effect of full immersion is provided by the majority of famous brands, including such industry giants as Microgaming, Novomatic, and NetEnt. Unique applications allow users not only to communicate with the dealer and other participants but even to walk around the virtual location, enjoying the atmosphere of luxury. A striking example is PokerStars international poker tournaments |
| Another new solution that allows gamblers to fully enjoy the possibilities of modern mobile technologies. The advantages of playing with a Telegram bot include:
| |
| Slot games with interesting plots | A new trend in the modern market is to provide various interpretations of cult Hollywood blockbusters, TV shows, comics, and significant social events |
| Games of skills and various tournaments | Entertainment based on luck is gradually losing its position, giving way to those solutions where the size of the reward depends on the player's skills. Today, you can often find software using which gamblers can form their teams to participate in various tournaments |
| Social casinos | This is a new and promising format of work in the market. As the main features, we can name such facts that, in this case, a platform is legal and does not require to be licensed as a gambling project since money is not taken directly from users. Casinos make a profit from the sale of such paid services as:
|
Popular Payment Services
The more payment methods are offered by the platform, the more deposits it eventually receives.
The most common financial systems are:
- bank transfers via Visa/MasterCard cards;
- electronic services — Neteller, Finstrum, and Di-Pay;
- virtual wallets — Qiwi, WebMoney, Yandex.Money.
As a rule, the range of payment options is selected following regional characteristics and the needs of the potential audience (for example, operators targeting the Asian market will hardly need the European bank card system, since local transfer systems and specialised converters are common in Eastern countries).
Withdrawal Speed
The level of loyalty of players directly depends on the speed of financial transactions. Any casino visitor will prefer a gambling location where rewards are paid out within 10 minutes and not delayed for several days, especially if an identity verification procedure is required along the way.
Technical Support
Prompt troubleshooting and sensible consultations are the keys to stable work and positive feedback from customers.
The direct duty of operators is to organise round-the-clock support service, which is capable of resolving any issue as soon as possible.
Loyalty Program
Players should feel important and needed. Therefore, it is important to offer them the traditional set of free spins and increased multipliers.
The most promising and practical ways to retain customers are:
- cash rewards for registration on the gaming site;
- bonuses for making the first deposit;
- invitations to participate in tournaments;
- seasonal and thematic promotions.
Bitcoin Operations
The use of cryptocurrency is one of the most promising trends in the gambling industry. According to experts, by the end of 2022, every second online platform will start accepting virtual money.
The United States has become the leader in the use of electronic currency: in some states, Bitcoin is considered the second currency after the dollar (there are even land-based exchange offices).
The Main Things about the Launch of a Profitable Gambling Project
It would seem that the key success factors of online casinos are obvious but even such a short list of conditions that we have described above is not found in every establishment. Implementation of all recommendations and requirements is, of course, a huge burden for operators. Moreover, business owners do not always have the necessary skills since they have experience working in completely different industries.
Our advice is to cooperate with a qualified intermediary who is ready to solve all the problems associated with the launch and promotion of a gambling platform.
Leave an application to Rosloto managers, and we will develop the optimal action strategy for your project. From us, it is also possible to order outsourcing services, as well as the creation of unique content and the conclusion of an agreement with the marketing department on the promotion of a gaming site.
Start your way to success with the Rosloto team right now.
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