BetB2B: Online Casino websites 2024 – prospects and tools for business development
02-10-2024
The rise of new opportunities and technological advancements is driving the growth of the gambling industry.
According to
Statista, in 2024, the global online gambling market is expected to generate $38.96 billion in profit. With an anticipated annual growth rate of 5.38%, it is projected to reach $48.04 billion by 2028. The European gambling market is forecasted to grow to $20.70 billion in 2024, with profits rising to $24.04 billion by 2028 at an annual growth rate of 3.81%. Meanwhile, the US gambling market is projected to generate $7.65 billion in 2024 and is expected to achieve earnings of $10.27 billion by 2028, growing at a CAGR of 7.64%. Gambling revenue in Japan is expected to be US$2.01 bn in 2024. It is expected to grow at a CAGR of 4.64%, increasing the market size to US$2.41bn. The Indian gambling market will reach US$0.93bn in 2024. It is projected to grow at a CAGR of 5.45% and is expected to generate revenue of US$1.15bn by 2028.
Markets where gambling is illegal also influence the overall growth rate. But if gambling is legalized at the legislative level, the market is expected to have a huge increase. Therefore, it is worth considering these countries as potential points of explosive growth in the future.
“Gambling is an industry with high growth potential. It uses modern technologies and creates new solutions in marketing, advertising, design, and IT. And naturally, it creates a special segment of the entertainment industry. Therefore, investments in this area will always be attractive to entrepreneurs,” notes an expert from BetB2B.
Online casinos are convenient and accessible. They allow players to visit the casino without leaving the comfort of their homes. In addition, online casinos provide a wide selection of games, from classic table games to new slot machines, and the opportunity to place bets, receive bonuses and participate in various promotions. No land-based casino can offer players such a range of entertainment.
BetB2B: What is needed to launch a gambling project?
As in any other area of business, a successful project in the gambling industry requires two basic components:
- Product – high-quality gambling website
- Client – players who will use the services of an online casino
The next step is in order to launch a casino, a company has to obtain a license and only after that step can the website go live. Prior to going live one should invest more into the marketing for the traffic to be ready on standby.
Brief Overview of Gambling Licenses
If a company wants to establish a legal gambling business, it must obtain an online gaming license and adhere to the regulations set by the relevant authorities. Popular jurisdictions for gambling licenses include Curacao, Malta, Cyprus, Gibraltar, Kahnawake, Panama, and the Isle of Man.
"Gaming licenses vary depending on where they are issued and the types of activities they regulate," notes BetB2B.
Some common license types in the gambling industry include:
- Business-to-Business License (B2B): Allows game producers to sell their products to gambling operators, enabling partnerships and placement of their games on virtual casino sites.
- Business-to-Consumer (B2C) License: Used to provide services directly to online casino clients.
- Gambling licenses: Required for operators offering real money games, such as online casinos, poker rooms, and sports betting organizations.
- Licenses for bookmaking services: Required to provide betting services on sporting or other events.
- Software license: Developers need it to create and distribute gaming software.
A company needs to obtain the appropriate license and start creating a product for an online casino. There are two ways to launch an online casino website:
- Develop your own platform:
- Requires significant time
- High costs for development, bug fixing, and testing
- Requires a large team and deep market understanding
- Purchase a ready-made platform from a provider (Turnkey solution), typically includes:
- CRM system: Analyzes player activity and preferences, and manages marketing activities, and business operations.
- CMS: Manages website content and interface settings.
- Affiliate Program: Attracts players to the website, especially in regions where other traffic methods are ineffective.
- Back-office: Tracks cash flows based on user activity, including player history, activity, and transactions.
- Casino games portfolio: Includes games from famous developers.
- Sportsbook: Accepts bets on various sports, offers live matches, graphical reports, statistics, match analytics, and a wide selection of odds.
- Payment instruments: The more payment methods a platform offers, the better.
“In essence, a gambling platform is an almost ready-made business. Once it is launched, the responsible online casino platform provider will provide technical support. This is also important to consider when choosing a service provider. To always be able to receive advice and assistance during the development of the project”, notes BetB2B.
Next comes marketing. Dozens of articles could be devoted to this area. Therefore, brief about what companies need to know about marketing to launch an online casino.
BetB2B: Online Casino Marketing
“For a successful website, it is necessary to create a suitable marketing strategy,” says an analyst at BetB2B.
Each operator understands what innovative casinos from leading providers can offer customers: the best conditions, convenient features, and profitable promotions, but marketing will help tell the public about this.
It is important to pay attention to the characteristics of the market, the competition, and the target audience`s needs. The best way to advertise an online casino is to promote it in search engines. Providers who have been on the market for a long time know how high competition is in this area.
When promoting a casino, the company needs to understand that it will have to compete not only with sites that offer traditional gambling services but also with bookmakers, poker rooms, and lottery clubs. To bring a company to the top requires to invest money and spend enough time on it.
Essential Marketing Tools for Promoting an Online Casino
To effectively promote an online casino, several marketing tools are necessary:
- Social Media Marketing:
Create pages on all popular social networks to increase brand awareness and attract a broad audience. These pages should be thematic, actively publishing news, exciting videos, helpful tips, and recommendations from authoritative figures.
- Retargeting Tools:
Use retargeting on social networks and actively interact with players who have visited the site to maintain interest and bring them back to the platform.
- SEO Optimization:
Implement a set of measures to bring the site to the top of search engine results, increasing traffic. SEO includes:
- Working with content, using keywords, and internal links.
- Interacting with external resources using backlinks.
- Improving the achieved results continuously.
- Advertising Newsletters:
This is a cost-effective tool where letters are sent only to those who have agreed to receive them, ensuring they are not perceived as spam.
- Affiliate Marketing:
Interact with companies that attract players in exchange for payment. Register with affiliate programs, pay for a suitable plan, and gain new clients. Ensure advertising appears on reputable sites.
- Loyalty Programs:
Attract and retain players by offering bonuses, participation in promotions, and loyalty programs. For instance, offer a bonus for deposits or promotional codes for registration to benefit the players.
- Regular Content Updates:
Regularly add new games to maintain player interest. Monitor trends and ensure diversity by:
- Providing access to demo versions of new games, allowing players to test them for free and evaluate their interest in playing for real money.
- Offering attractive bonuses and promotions with the introduction of new games.
- Including live casino games with real dealers.
- Adding sports betting options to attract more players. Integrate the Sportsbook API to accept bets on various sports.
- Offering betting on popular eSports games like Counter-Strike, League of Legends, Valorant, and Dota 2.
- Cooperation with Partners:
Work with developers specializing in innovative gaming products to ensure constant access to new content.
- Data Analysis and Feedback:
Monitor customer reactions to new games and consider their preferences when choosing content.
- High-Quality Technical Support:
Provide prompt, 24/7 assistance via multiple communication channels, including online chat, feedback forms, phone, Telegram, and email.
Summary
The online casino industry is thriving and will continue to grow. However, only the best companies with unique offerings can confidently maintain their market positions. The success of a gambling site largely depends on the quality of the product it offers. A high-quality, modern gambling platform can significantly increase the likelihood of success. Reputation will undoubtedly play a crucial role in the future development of the gambling business. Image is a critical factor influencing the growth and sustainability of the industry.
Article was provided by BetB2B – gambling platform provider
