Top 10 Reasons to Open a Gambling Business
Thanks to the popularity and availability of online casinos to users, gambling businesses bring high profits to owners. Despite the tough competition, launching an online gambling resource is a rewarding investment that pays back quickly.
Virtual gambling facilities confidently conquer the gambling market, winning popularity from land-based casinos. The arrival of high-speed networks, availability of the Internet and smartphones facilitate this situation. One of the main merits of online casinos is the possibility to play for fun (not for money) and customer loyalty systems. You do not need to deposit big sums in order to place bets, and beginners even receive bonuses for the registration.
According to H2 Gambling Capital, the global gambling market revenue has grown by 10% over the last decade. Moreover, the figure will grow by 7% more until 2023. This means that the number of online casinos and betting sites, as well as the interest of users, will be growing. Let us review the main reasons for opening a gambling company in 2020 and the potential of this kind of business despite risks and competition.
1. Big customer flow
Land-based gambling facilities are forbidden in many countries where citizens use alternative ways to enjoy their favorite games. In standalone regions, casinos can be found within special gambling zones, which not everyone can afford. Сustomers of the full legal age can visit an online casino from different countries, websites are available for them at any time of the day. Such availability enables a big traffic flow and high profits in the long term.
2. New regulated markets
From year to year, governments of different countries are getting aware of the advantages of gambling market regulation instead of banning the industry. For example, online casinos were officially allowed in Belarus last year, and similar changes are planned in Ukraine in 2020. Legalization opens up new opportunities as well as access to a bigger number of customers under legal conditions. You can learn more about the prospects of the Ukrainian gambling market at UGW 2020.
3. Simple and quick start
Launching an online casino is usually simpler and cheaper than the establishment of land-based gambling facilities. You do not have to rent premises, hire personnel for full-time employment, pay taxes from every play table. You do not even need to purchase a license, as starting entrepreneurs can make use of white label casinos – a possibility to open a gambling resource and work with the support of the official partner.
4. Advances in technology
Modern online casinos are not the same platforms they were several years ago. Technological progress allows adding new types of entertainment and handy tools on the gambling site. For example, live dealer games, instant deposits, advanced and popular payment systems, VR and artificial intelligence algorithms for better data protection. All of it attracts more customers and opens new growth paths for online casinos.
5. Improvement in graphics quality
Thanks to the technical progress, the visual component of games and the design of online platforms are getting more and more colorful and of better quality. Today customers are attracted by not only chances to win, feelings of excitement and engagement in the process, but also good-looking images, contentment of quality graphics. Currently, it is even simpler to draw the interest of new users with unique and eye-catching website design.
6. Availability via mobile devices
According to data from Rub90, the share of players that access gambling resources via mobile phones and tablets significantly increased in the period from 2012 to 2018 – their number increased by 117% in six years. This relates to not only online casinos but also betting sites. Mobile website versions became handier and more available, offering customers almost the same range of services as the browser version. It attracts users who love carrying a casino in their pockets.
7. Cryptocurrencies and blockchain
Development and mainstreaming of cryptocurrencies opened up new opportunities for online casinos of the whole world. With digital assets, players can run instant transactions, safely protected by the blockchain technology. The use of smart contracts in casinos helps to grow user trust: players can know for sure that they will withdraw their winnings.
8. New marketing tools
Promotion and reasonable marketing strategy play a great role in the mainstreaming of the gambling resource. One can attract new customers and retain old ones using a whole series of efficient advertising tools and approaches. Their number is growing with every year and the resources that keep up with the trends and innovations in the marketing industry become the top ones. Obtaining the support of specialists, you can quickly make your online casino popular.
9. Short pay-off period
Setting up an online casino does not require much effort. Besides, this process is cheaper than the registration of a land-based gambling facility. At the same time, a gambling company starts bringing profits almost straight away. With a correct approach to advertising and compliance with the legal environment, a gambling resource brings a stable and fast-growing profit that will soon cover the expenses on license acquisition.
10. Industry growth
Land-based casinos do not change so fast as gambling websites do. Online gambling resources attract players with three-dimensional graphics, live streams, tournaments, and many other things. New offers become more regular and well-known developers provide a wide range of casino games.
Would you like to learn more about the latest online casino solutions and tools in 2020? We are looking forward to seeing you at Ukrainian Gaming Week 2020, which will take place at the International Exhibition Centre on April 15 and 16.