When it comes to statistics, the numbers are all pointing to the same thing:
It’s time to start an online iGaming business!
Why? Because when everything took a hit during the COVID-19 pandemic and land-based casinos began to shut down, the online gaming business began to boom as more people turned to digital solutions for their entertainment. This also
meant that more entrepreneurs began to invest in iGaming businesses, boosting the revenue as a result.
But here’s the thing:
If you’re just about to tap into the online gaming industry, things can be, well, a little confusing! Everyone can start an online gaming business from scratch, but not everyone is able to succeed. That’s mostly because they don’t really know when and how to get things started.
Every Youtube video on how to start an iGaming business explains things differently, and each article on the subject covers different aspects. That’s why we at Technamin have created the most comprehensive guide on how to kickstart your online gaming business, covering everything that can come to mind!
Following this guide will not only point you in the right direction, but will also give your business an edge in the industry!
So, without further ado, let’s get into it! Here’s a comprehensive guide on how to kickstart your online gaming business in 2021!
ANALYSE AND UNDERSTAND THE IGAMING MARKET!
When you’re about to launch a product or service in any pre-existing market, a bit of research can go a long way! You need to understand the market you’re trying to enter, and iGaming is no different!
Here’s why analysing your market is important:
- You get to know your competitors!
Not only their products and services but also their weaknesses. Weaknesses that you can solve for others, reeling in more customers toward your business! There are also things that work for your competitors, which you can implement for your business instead of always reinventing the wheel.
- You gain industry knowledge!
This will come in handy when you are designing your solutions. The more knowledge you have about the industry, the more direct your solutions will be at solving people’s problems! What solutions can you offer which your competitors don’t? Answering this question can go a long way!
- You get a professional edge!
The more professional you become, the more your business will attract clients. And one way of becoming a professional company, is gaining as much knowledge as possible (both theoretical and practical) on the industry you are active in.
Presenting a wide knowledge base correctly to your potential clients will ensure that you are noticed and approached frequently as a professional and respected leader in the industry.
So, do not ignore this step! Once you’re done with analysing the market and figuring out what areas you need to focus on, it’s time to:
GET AN IGAMING LICENSE!
When starting an online gaming business, you want to make sure that you’re doing everything by the book. That’s crucial for two reasons:
- You won’t run into issues with the authorities
- Clients will be drawn to your business because you are licensed, and therefore, legit!
Make sure to get the proper license for where your business is located or your targeted jurisdiction, as regulations differ from area to area. The downside is that getting an iGaming license might be a bit time consuming, but trust us when we say that it’s worth it!
There are plenty of licenses you can get, including Curacao, Malta, Kahnawake, and more. Make sure you research well to understand which one is a better fit for your business.
Once you get that taken care of, go to the next step, which is:
Choosing the Best iGaming Software Provider!
This is fairly obvious! Without a decent online gaming software provider, your iGaming business simply will not take off.
What you’re shooting for here is a software provider that’s going to establish a sustainable, long-term relationship with you. Ideally, they should have a full grasp of the industry (otherwise, why pick them, right?) as well as experience in creating business-specific solutions.
There are a couple of things you need to look for when picking an iGaming software provider:
- They should provide comprehensive services!
The more they provide, the better! You will not have to go digging for other providers if one provider can hit the whole nine yards. Choose a provider that can offer comprehensive solutions, for example casino, sports, and everything in between!
- An ideal iGaming Software Provider should offer perks like managing accounts free of charge:
If you plan on working with them, there should be some perks! This is one of them. It’ll be a win-win for both of you!
- They should be aware and on top of all events, betting markets, etc!
This way, you will not miss any golden opportunities!
- Their system should support multiple currencies:
Yep! Not everyone bets in dollars! You want to make sure that you support as many currencies as possible, in order to reel in consumers from different countries.
- Good iGaming Software Providers should uphold strong security!
A lot of private user and client information is passed around in this industry. You want to make sure that information is well-protected, and that your own business is shielded from fraudulent activities.
Other key features you should be looking for are:
- The ability to customise
- A constant customer success function
- A gaming license
- A user-friendly design
Nowadays, with the popularity of crypto-currencies on a global scale, it’s also important for your online gaming software provider to have extensive experience with these modern currencies.
Guess what? At Technamin, we offer all of these solutions and more!
Once you get this step taken care of, it’s time to focus on:
SETTING UP YOUR WEBSITE
The i in iGaming is a dead giveaway that you’re going to need a top-notch website for your online gaming business. When setting up your website, you need to make sure that the design is attractive enough to engage your users.
To keep things simple, here are the 3 W’s of a successful website:
- The Who: Introduce yourself and your business!
- The What: Tell people what your business is all about and what you offer (your services and products)!
- The Where: Include clear directions which will guide users to the area they want to land in on your website!
Keep things simple! Human beings are more attracted to minimalism than to a jumbled-up website with tons of content. Make sure the content is focused on your services, and don’t go off topic with information that’s not relevant. Focus on providing a seamless experience for your users.
GAMES FOR EVERYONE
The design and content are indeed important elements of an iGaming website, but let’s not forget the main reason why players will visit your website: games, games, games!
You need to make sure that your iGaming website showcases a wide variety of games. If you’re also focusing on sports, you need to include every type of sport and sporting event in the market. We highlight this because you want to attract customers from different backgrounds and with different tastes! The more options you roll out, the more attractive your iGaming website will be to players!
Also ensure that your website includes various CTAs (Call to Action buttons) and links to your business’s social media channels. Our experience shows that iGaming websites without In-Play or Live Streaming options are not very effective in this industry.
If you are just starting out and don’t know where to start with your website, tap in your iGaming Software Provider! These providers often have ready-made website templates which you can use for your business. Most of these templates are customisable and can be rebranded to fit your specific needs, both in terms of design and the content on the website, including games and sports. At Technamin, we also offer templates which are fully functional, customisable, and which can be set up very quickly!
After your website has been set up and you’ve included all the solutions you are offering, it’s time to tackle another important aspect of your iGaming business:
CHOOSING A PAYMENT PROVIDER
Transactions are inseparable from any business! And you want to make sure that the transactions which will happen on your website are as easy and seamless as possible. For that, you need a payment provider!
What to keep an eye on when choosing an iGaming payment provider, you ask? Let’s break it down:
- They need to offer multiple payment options, because not anyone will be paying using the same payment method. Different players opt for different methods and their payment preference may vary depending on their location.
- Compatibility with crypto-currencies, since crypto-payments are increasing in popularity.
- Their services come with high-end security protocols, because you don’t want to be careless with users’ money!
Again, when it comes to payments and transactions, you can resort to an iGaming software provider who will provide smooth integration of payment methods with every major e-merchant, easy payment processing solutions, 24/7 risk management, fraud detection, security, and everything in between.
Psst, Technamin takes care of all that!
TIME FOR PROMOTION!
Once you’ve got the building blocks of your iGaming business lined up, it’s time to promote it! Because no one will notice you until you begin an active promotional campaign!
Trust us, if you’re an iGaming business, then you definitely need a solid marketing strategy! You already know what your competitors are doing (or not doing, for that matter), so start off on that! What you want to show your audience is an iGaming business that is innovative, legitimate, and high-quality!
Your launch has to start with a bang in order for you to get noticed! Utilise various platforms to promote your business, especially social media, which is used on a daily basis by billions of people!
MAKE SURE THOSE WHO NOTICE YOU, KEEP COMING BACK FOR MORE!
It is a given that if you do everything right, you will attract the attention of people who will become your regular customers. However, that is not enough! You want them to keep coming back, and you want new customers as well. You can achieve this by implementing customer loyalty and retention strategies.
One option is to set up a wide range of bonus systems. Because who doesn’t love bonuses, right?
There’s a bunch of these which you can utilise, such as sign-up bonuses which players get once they join your website, deposit bonuses, and an assortment of free bets. For example, our Technamin Casino comes with a ton of bonuses and free spins you can choose from!
As for your regulars, you can further intrigue them by different loyalty programs, seasonal promotions, and FPPs for players who play frequently.
Even with a steady customer base, your marketing should not stop! Use blogs, forums, articles, SMM, and online ads to further market your business. And once you’re done with your initial marketing plan, create another one! Remember, the goal here is to grow your business, not just launch it.
As you can see, setting up an iGaming business is not a cakewalk, as many make it out to be! In fact, setting up any business can be tricky…unless you have a professional iGaming software provider to help you out along the way. With Technamin’s products and services (which includes all the points mentioned above), you can set up an iGaming business which will be destined for success! Contact us today and let’s get started!
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