Running an online casino business comes with its own unique set of opportunities and challenges. It is a lucrative industry these days, with some studies estimating that the global online gambling market will be worth over US$90bn by 2024.
But getting a slice of the online casino pie is easier said than done; surging ahead of the competition in a saturated market is not a simple task.
There are plenty of competitors armed with well-designed sites, sophisticated fraud prevention tools and a squeaky-clean compliance rating. But how can you, as the owner of an online casino business, get on lists such as these and keep ahead of the game?
Design and user experience
Too many online casinos have fallen into the trap of thinking that their business can successfully follow a “passive income” model for the long term – or, in other words, believe that they can set up their enterprise once and then leave it to attract customers without further inward investment. In reality, however, an online casino owner has to ensure that they are working full tilt to keep their casino ahead of the curve, especially during the pandemic lockdown when playing games is highly popular. One way in which progress can be made is by investing heavily in design and user experience.
In the modern age, some of the most successful online casinos are those that use modern techniques – and ensure mobile rendering. The use of Flash is now considered old-school and has been replaced by more responsive and attractive options. If an online casino doesn’t have such design options on its site, it could easily find itself getting left behind. It’s worth noting that the cost of a design overhaul at an online casino can seem a little eye-watering at first, but by conceptualising it as an investment, it’s easier to persuade yourself that cracking graphics and intuitive user interfaces for a better user experience can pay for themselves – several times over.
Breadth of games
If you’re looking to take your casino business to the next level, it may be worth extending the range of games that you can offer. Say, for example, that you’re currently specialising in card games, such as blackjack and poker. This sort of specialisation has its advantages, as it allows you to give your customers a clear offer and build your messaging around something specific.
But it also has its drawbacks – namely, that it can leave your customers feeling dissatisfied if they have to switch from your platform to the platform of a competitor in order to play a different game. In that instance, you could find yourself losing custom overall, especially if the competitor offers the same games you do, and more. Game developers are not necessarily bank-breaking in terms of fees, and there are some off-the-shelf, white label options out there that you may be able to add to your portfolio in an attempt to regain customers.
Fraud and compliance
There are also some things you can do under the bonnet to ensure that your casino business does not suffer. One important step is to protect your customers against the ever-present risk of fraud. Ensuring that you have what are now becoming increasingly basic security systems in place on your technological architecture, such as Secure Socket Layer (SSL) encryption, is one way to do it. Another way is to make sure that all staff you employ have proper training in data protection, and ensure that they can identify any phishing scams or similar approaches from any external individuals.
The same goes for compliance. If you operate an online casino business, it may be that you have to follow certain regulations from the Gambling Commission and adhere to the terms of the Gambling Act 2005. A sure-fire way to fall behind the competition is to be heavily fined or told you must close your business – so if in doubt, it may be worth investing in the services of a specialist legal professional.
As the owner and operator of an online casino, remaining ahead of the competition can seem like an uphill struggle. There is so much to think about in this sector: from ensuring that your online casino’s aesthetic is perfect to making sure that you offer a broad enough range of safe games, there’s a lot to keep in mind. By following the tips outlined above, you can ensure that your online casino keeps ahead of the competition and stays afloat.