Over the years, OCMS has independently developed its own white label iGaming system and successfully launched white label iGaming's products and solutions. During this period, we have relied on our excellent technical team and R&D personnel to continuously update our systems and innovative technologies, and have been well received and recognized by many gaming platforms. However, we often hear iGaming platform operators mention when starting a new gaming market: "How to start a new iGaming platform?" "How to enter this iGaming market?" Today, the editor of OCMS will sit down with you. Next, let’s discuss in detail “How to use white label iGaming to open up new gambling markets”.
First of all, why do so many investors want to open a iGaming platform? According to reports, by 2030, the global iGaming market is expected to reach a valuation of US$153 billion. With such a market, coupled with iGaming features, your iGaming platform can be expanded to the iGaming markets of various countries through the Internet. At the same time, with the popularization of the Internet and e-wallets, all parts of the world are becoming cashless. With these foundations as the basis, it is not difficult to guess the market prospects of iGaming. We will explain how to start a new iGaming platform in a few steps.
The difference in your target market will affect the success factors of the iGaming platform. Will you choose a large, mature market, or set your sights on a new one? Will your platform be dominated by live dealers, slots, lotteries or sports? We also take a look at live dealers and sports before diving into your iGaming market, and then you consider your platform's route. The global online sports betting market will reach US$83.65 billion by 2022. Although the epidemic has caused the interruption of other sports events and caused a decline in the sports market, virtual sports and e-sports have accelerated their pace, so the impact on overall sports is not very great. Online croupiers and lotteries are also developing rapidly. For example, Indian poker, Shiha lottery, and TRON lottery have also been introduced into the iGaming market. NFTs and cryptocurrencies are not far behind, not to mention slot machines. By 2022, the total global iGaming revenue, excluding sports, will be US$63.53 billion. While the iGaming industry is a global industry, it is impossible to look at all market directions at the same time. Determining the market direction of your iGaming platform operation is a key consideration.
Regulations in the iGaming industry vary from region to region, country to country, and sometimes even from state to province within the country. A legally regulated iGaming market is often referred to as a white market, while a region or country where gambling is banned is known as a black market. Certain countries, such as India, have various regulations that fall under the gray market where the authorities neither consider legal nor prohibit gambling operations.
But the extent to which gambling is regulated will be the first thing to consider. Do you want to say that it is a black market, a white market, or a gray market, which kind of gambling market is easy to do? The editor of OCMS can't give you an affirmative answer, but no matter which method has its own advantages and disadvantages.
If you are doing a white market, you can be sure that your platform will be blocked or shut down by the authorities, and there are some other safeguards. The premise is that various authorizations and taxes must be in place.
If you are in the black market and gray market, the main reason is that the difficulty of publicity may be more difficult, but no one said that the promotion of the white market is easy. Each market has its own gaming advertising policy, which will affect the promotion of your iGaming platform. Therefore, some white markets are more competitive than black and gray markets. The cost may be higher, but the black market and gray market save the authorities' dock fee is also a considerable cost savings.
Once you've decided which country's iGaming market to play in, it's time to turn your attention to the bettors themselves.
Learn as much as possible about your betting market target audience, including the number of potential bettors. These all require statistical data, but there are other dimensions to assess the demand potential of the market.
The following are some evaluation dimensions collected by OCMS when sorting out the iGaming industry:
When your iGaming platform is preparing to enter a new market, research and analyze the advantages and disadvantages of existing peers in the local market, analyze their gambling game types, payment systems, and check each other's promotions, such as: bonuses, rebates, membership program, from which you can learn about the players in the local betting market. At the same time, you can also understand what content your competitors do not provide or lack. After comprehensively understanding the operations of your competitors, you can determine the differentiation of the market to fill the gap.
Although iGaming is a unique industry, like other industries, it also requires a business plan.
Clearly outline your organization, including your corporate structure (whether it's a partnership, corporation, or LLC). You should also provide information about stakeholders and other key people, as well as outline expectations for staff size.
The total market analysis of the business plan. iGaming platform operators should analyze how the business adapts to the local iGaming industry pattern. They need to have a clear understanding of their own gaming game types or user needs and target markets, as well as segment industry trends, and list them in detail. This also includes determining your business' budget and marketing channels.
Forecast the turnover of the iGaming platform in the first three years, so that the iGaming platform boss can grasp and track the success of the expected operation to a certain extent, and understand the business operation status of the platform.
Financing is sometimes required during platform operations, so annual revenue forecasts, balance sheets, estimated cash flow statements, and balance sheets are all needed for financing.
When the iGaming platform starts to operate, it includes network fees, license fees, commissions for game types, employee salaries, rent, and other daily expenses. If you are doing a white market, it may also include regulatory agencies and deposit to be paid. Then, you need to have enough funds to ensure that the iGaming platform is effectively launched until you make a profit. Of course, there may be tax costs as well. If you don't have much money on hand, you may need financing, and any investor will generally want to see detailed financial planning as well as the advantages, disadvantages, competitiveness, etc. of your iGaming platform compared with other peers.
There are many countries around the world that offer iGaming licenses, and each country or state has its own licensing process and requirements. Authorities in many countries require iGaming operators to obtain a license from local regulators. However, the situation of each iGaming investor and company will be different, and the occurrence of incidents will also be different. Therefore, the editor of OCMS will not explain too much about the license here. (However, something to note is that different countries or regions have different restrictions on the types of gambling games included in licenses. Not all gambling game types are open to licenses. At the same time, it is possible to set up a single gambling game type for a single gambling game type. Separate license plate.)
A small company or startup can survive with only a small team, but as the iGaming platform operates, the project will grow bigger and bigger, so the team members will grow. Management staff focus on the strategic disciplines of the market, other members perform day-to-day tasks, and you can also bring in an outside person, such as a design or marketing specialist or a solution provider. Large companies may have developers, but for start-up gaming platforms, white label iGaming is the most suitable partner. White Label iGaming can greatly save the development time, personnel costs and energy of developing a iGaming platform, and at the same time there will be rich industry experience and industry dynamic information. Then, you can focus on your own team management, strategic rules, marketing and other operational work. (The next editor will make a separate expansion article on team planning and management.)
Selecting white label iGaming company to develop a customized iGaming platform system is an important step for the iGaming platform. White Label iGaming focuses on the core functions and integration of iGaming platforms, so the functions of white label iGaming and the quality of its technical and after-sales support are crucial. At the same time, the scope of services provided by the white label iGaming company will also affect the price of the development and maintenance of the iGaming platform.
In today's highly competitive gambling market, an excellent white label iGaming platform should provide comprehensive and excellent services to meet the needs of players and iGaming platforms. Here's what a good iGaming site should include:
Good interactive experience and design:On the Internet today, there are a large number of online gambling platforms, which makes the bettors become more discerning. They want to be able to quickly and easily find a platform that meets their needs. Therefore, in terms of iGaming platform development, white label iGaming's product research and development is particularly important. Optimize the user interface, create clear navigation and user-friendly interface through simplified interaction and responsive design, so that players can easily find the content they need and better meet the needs of gamblers. At the same time, white label iGaming company continues to test and improve through user feedback and behavior to enhance the gaming platform player experience, meet the needs of gaming players, and enable the iGaming platform to always remain competitive among competitors.
Player account security:Player account security: White Label iGaming companies must take effective measures for their own white label iGaming platform system to protect player account security, ensure the confidentiality of user data, and provide a reliable gaming environment. They establish an effective risk management system to identify potential account risks.
Diverse game content:White Label iGaming companies should provide access to rich and diverse gambling game types, such as sports betting, electronic games, lotteries and live dealers. At the same time, it should cooperate with a number of well-known game suppliers to provide high-quality and diverse game options for the iGaming platform.
Strong technical support and stability:White Label iGaming companies need to have a strong technical foundation and a stable operating environment. High-performance servers and network infrastructure can ensure platform stability and smooth iGaming experience. In addition, timely technical support and maintenance services ensure the smooth operation of the iGaming platform and rapid problem resolution.
Safe and reliable payment system:White Label iGaming should provide a safe and reliable payment system to ensure the safety of users' funds and the confidentiality of transactions. The use of encryption technology and payment industry standard security measures can protect users' payment information and transaction data.
Flexible Marketing Tools:White Label iGaming companies should provide rich marketing tools and functions to help operators attract and retain players. This includes reward programs, promotions, VIP programs, etc., which can motivate players to participate and increase the user retention rate of the platform.
Complete backend management system:White Label iGaming should provide a complete background management system to facilitate operators to manage and monitor the operation of the platform. The backend management system should include user management, reporting and analysis, risk control management, financial management and other functions to help operators monitor the operation of the platform in real time and make corresponding decisions.
Mobile optimization and cross-platform support: With the popularization of mobile devices, the white label iGaming company should have the function of mobile optimization, which can provide seamless gaming experience on various mobile devices. The platform should also support cross-platform access, allowing players to seamlessly switch between different devices.
Network and Server Security:Powerful Firewall: Configure and manage a powerful firewall to block unauthorized access and network attacks. Intrusion Detection and Prevention System (IDS/IPS): Use an intrusion detection and prevention system to detect and block malicious activity and attacks. Antivirus and Malware Protection: Keep servers and network devices safe from malicious attacks.
Full-featured CRM system:A customer relationship management ( CRM ) system enables iGaming platforms to track any process related to players in their operations, including registration, verification, game history and bonuses, preferences, etc. And all important KPIs (such as churn rate, GGR, NGR, unique activity, etc.) should be displayed in the background of the iGaming platform.
As an iGaming platform operator, you face two main tasks: acquisition and retention. Here are a few marketing strategies that have proven effective in recruiting and retaining poker players:
Agency marketing is the simplest and most difficult strategy. Usually gambling bloggers or streamers or players then direct their friends or audiences to iGaming platforms in order to earn commissions.
The iGaming platform pays the lower-level agent a certain percentage of the profits generated by the players that the lower-level agent directs to the site.
The iGaming directs lower-level agents or network marketers to a certain website to register, deposit and play games, and each valid player generated pays a single or multiple splits.
This is a combination of the two models mentioned above with lower payout ratios.
On almost all iGaming platforms, bonuses are a marketing method used to attract players to activate and convert registered players. These bonuses come in the form of sign-up bonuses, deposit bonuses, free spins, free chips and free bets, and are designed to entice players to participate.
When offering bonuses, it’s important to structure the terms and conditions clearly and clearly. Bonuses should come with wagering requirements, also known as rollover requirements, that require players to effectively wager a certain number of times in the game before being able to withdraw money, and there are usually withdrawal limits.
The wagering requirements and withdrawal limits may seem a little unfair to players, but this is to prevent some cheating. Bonus cheating is a common practice in iGaming where people sign up just to get bonuses and are not real players. Usually they will use multiple accounts for trading.
In addition, the VIP program is an effective way to reward and increase the loyalty of those players who play on your gaming platform for a long time. Many iGaming platforms have loyalty programs that offer perks and rewards to players who spend enough time and/or money on the platform.
These tiered membership programs offer increasing rewards and benefits as players level up. iGaming platforms mainly focus on those players with regular deposits and higher wagers, and the VIP program aims to provide more incentives and rewards to these players.
Some iGaming operators offer slot machine tournaments where players compete against each other for prizes. These tournaments can be combined with free spins. With proper promotion, tournaments can increase player engagement.
Through gamification elements, players can create their own avatar and profile and gain experience points by participating in gambling activities. These experience points can be used to unlock special rewards, participate in unique activities, or increase your level in the platform. Additionally, customized and staggered offers can be personalized based on players’ interests and gaming preferences, making them feel special and valued. Through gamified design, iGaming platforms can increase player engagement, increase their loyalty, and provide a more personalized and interesting experience. At the same time, it can also attract more players and bring continued success to the iGaming platform.
A responsive customer support team is crucial. Service is available 24/7 and trained on how to handle the most common customer complaints. Customer service agents should be able to speak multiple languages, or at least the same language as your target market. This ensures that you can communicate smoothly with your players, understand their needs and provide satisfactory solutions.
By optimizing the capabilities and service quality of the customer service team, we provide an excellent customer experience and build trust and good relationships with players. This helps increase player satisfaction and loyalty, thereby promoting the successful development of your iGaming platform.
After a series of preparatory work such as collecting industry information, selecting the target market, formulating a business plan, building a iGaming platform with a network company, connecting games, accessing the payment system, hiring a team, and formulating marketing strategies, it is now time to officially launch your iGaming business up.
But before turning it on. Here are some key steps:
When launching a iGaming market in a new country or region, attracting and retaining players is a top priority. Continuously update and improve your business to maintain a competitive advantage and keep pace with changes in the market.
In the process of setting up and operating a iGaming platform, there are business challenges such as building a team, establishing a company, and navigating the bureaucracy of different countries. However, these are only the difficulties in starting a business. The stable operation of the platform is the most important. The development of an iGaming platform is a complex task, and if you choose to develop your own platform, you will face ongoing problems every time you want to access new game categories or change payment channel partners.
Therefore, working with a reliable iGaming platform solution provider is an option worth considering. Tianchengbao.com works closely with many well-known game manufacturers, and our game library has more than 8,000 games. You can safely recommend to players the latest, most popular, and most entertaining gambling game products. We are constantly updating our library of games to ensure your betting platform remains competitive. At the same time, he has 16 years of experience in system development and game library construction. Their stable and reliable platform architecture can meet the needs of different markets and provide flexible customization options.
A variety of terminal platforms can run seamlessly on different devices such as PCs, mobile phones and tablets. Collaborate in a transparent and unbiased manner, with no hidden fees or deposit requirements. You don't need to worry about any technical issues or bear expensive R&D costs. OCMS will be responsible for the technical maintenance and upgrade of the platform, allowing you to focus on market operations and business development. Choose OCMS as your white label iGaming partner and let you ride the wave in the highly competitive iGaming market!