There is no doubt that the online gaming market is a lucrative arena to enter. According to Statista, the global volume for the market, in 2015, was 37.91 billion US dollars. But, the world of online gaming is already populated with many big name providers, such as 888 Holdings, Kindred Group and William Hill. If you choose to try and enter this world you will find that there is tough competition.
This is why you need to do plenty of research and planning, before you start the process of setting up an online gaming business. There are several main areas that you need to concentrate on.
Deciding what type of Games you want to offer
It’s probably a good idea to concentrate on one area of gaming when you first start off. Which area you concentrate on may be decided by your geographical location. For instance, legal gambling in South Africa is restricted to sports betting, when it’s provided online. So, if you are setting up in business in South Africa, it makes sense to concentrate on providing high quality online sports betting.
You may also want to think about establishing which niche sports, or casino games, are not well provided for online, and develop a service that attracts their fans. It’s hard to compete with big companies where the most popular gaming activity is concerned, so it makes sense to try and corner a niche market.
Choosing the best software provider for you
Once you know what type of gaming you want to provide; you can choose the iGaming software provider that best suits your needs. You need a software solution that is reliable, and enables you to create the kind of gaming environment you want to provide for potential customers. Big name software providers include PlayTech and NetEnt. You may also want to look for a software solution that provides you with an all-encompassing service, including:
- Full customisation and management of the software.
- Multiple banking options.
- Access to a wide range of games.
- A gambling license.
- Customer support provision.
Having all of these additional services at your fingertips is useful. For instance, you cannot operate an online gaming site without a license from the authority for the jurisdiction you are operating in. If you can get a license at the same time as acquiring software this is beneficial to you.
Deciding on banking options
You should at least offer debit and credit card banking options, as well as deposits and withdrawals directly from and to a bank account. You should also provide the option for customers to use an online payment wallet such as PayPal, Neteller or Skrill. In addition to deposit and withdrawal methods, you also need to think about what currencies you want to enable customers to use. Getting banking options right is complicated as providing too few options can deter customers but providing too many options can be confusing.
Designing a website
When you are designing a website for your online gaming business, do not make it too complicated. Online gambling customers tend to want clear graphics, interesting games and fast play before they want clever videos and intricate design features. It’s also a good idea to make it easy for people to navigate your website; nothing should be more than a couple of clicks away.
Implementing a marketing campaign
Developing a marketing campaign that works is essential, if you want to survive in the competitive world of online gaming. Think about the points that you want to get across, and what incentives you want to offer.
- High quality iGaming software.
- Multiple banking options.
- Secure and quick deposits and withdrawals.
- New player bonuses and ongoing loyalty schemes.
Remember that it’s not just about attracting people to your website. It’s about getting them to come back again. This is why you need to ensure that you provide a high quality gaming experience on an ongoing basis.