Reasons to Start an Online Gambling Business in 2023
Find out the important reasons to start your online gambling business in 2023.
The COVID pandemic has contributed to the fact that the online gambling industry is developing confidently and rapidly today. One of the reasons is that the main motivation for people all over the world to play online games is for fun, and this was exactly what was needed in the tense situation with the pandemic. Lockdowns around the world in 2020 have locked people within four walls, and the opportunity to have fun without leaving home has become paramount in demand. But even when the bans on public entertainment were lifted, online gambling didn’t lose its position. People around the world have appreciated the convenience and speed of betting on the internet, when you don’t even need to get up from a comfortable sofa to find yourself in a casino atmosphere.
The size of the iGaming industry is projected to increase by more than 86% by 2028 from 2021 to US$114.4 billion. The data proves that the iGaming industry is promising and rapidly developing and this is the main argument in favour of starting your gambling business. Let's take a closer look at what other reasons there are to launch an online gambling business in 2023 and consider it a great idea.
Affordable business licensing
Today, the online gambling industry offers numerous legal licensing options that meet different business requirements and needs. This is done because each business model can be somewhat different from others. There are several options. The most popular are licences directly from those jurisdictions where the company plans to start an online gambling business, and licences from the same jurisdictions, which extend beyond jurisdictions and cover international market segments.
Online gamblers' commitment to smartphones
The ability to be at the casino at any time, thanks to the internet, has resonated with people around the world. But the possibility to use not only a PC or a laptop, but also such convenient compact gadgets as tablets and smartphones added to the strength of this trend. Statistics claim that the stimulation of the online gambling market is due to the growing proliferation of smartphones with improved internet access, as in most countries around the world, mobile online gamblers make up approximately 80% of all online gamblers.
Online gamblers vs. ‘land-based’ gamblers
The entertainment industry is always fertile ground for businessmen. But if you choose between land-based casinos and their online ‘colleagues’, the latter are obviously more promising. The fact is that today young people play more often on the internet than in land-based casinos. The ease with which you can play in online casinos also contributes to the growth in the number of online gamblers. Developers, while launching a new gambling website and mobile apps, create a user interface that is understandable even for a person with minimal experience in using a PC and mobile phone. By this they attract not only young people experienced in using computers and smartphones, but also older people.
Wide range of payment methods
An online casino, unlike a land-based one, allows players to bet not only in fiat, but also in cryptocurrency. The latter, by the way, is popular with gamblers, since when playing for crypto, the player can remain incognito and not provide the operator with personal data. Another plus of cryptocurrency is that Blockchain technology minimises the risks of game process fraud. Players opt for cryptocurrency payments due to the high level of security and convenience. As for traditional currencies, online casinos are able to provide gamblers with dozens of payment options, and thereby increase gambler loyalty.
Quick launch of the online casino business
When opening an online casino, a businessman no longer needs to take on the risks and responsibilities of developing their online gambling platform from scratch. The iGaming industry today has a wealth of trusted and established soft providers that prioritise innovation and quality of service. You can choose a solution that suits your business needs: White Label soft for a casino or sportsbook, a turnkey solution for a crypto casino or a casino, or maybe a hybrid solution. The supplier will provide you with licensed soft as well as qualified technical support.
Geographical accessibility for the influx of players
Land-based casinos are 'sharpened' more for the influx of local visitors or tourists. Online casinos are available to all gamblers from anywhere in the world. The only condition is that the legislation of the state or state where you are going to open a business allows gambling activities in this territory. The possibilities of online casinos are literally endless.
Unlimited selection of games from leading providers
Compared to brick and concrete casinos that are familiar to everyone, online casinos have a much larger range of games. The reason is that in online casinos you can find not only slots, table games, poker and roulette, but sports betting, fantasy sports and e-sports. This range of games is available through seamless integration with either a game provider or integration with a game hub. The first option is more complicated from a technical point of view, since the API used for integration may differ for different providers, and therefore, for each new provider of online casino games, the brand will have to enter into a separate agreement and implement a separate integration.
Integration with the game hub through the game aggregator allows the operator to seamlessly add game content from all the leading game providers to its assortment at once. Thus, the casino operator gets access to a variety of game development studios with just one integration with the game aggregator.
BGaming to start your gambling business
The game provider BGaming has been developing games since 2012 and is currently known as a highly reputable casino games provider. Games developed by BGaming are recognizable and loved by gamblers around the world. It is confirmed by the numerous awards BGaming has received - in particular, the recent victory at the 5th AskGamblers Awards, where the winner is determined by the gamblers themselves. The portfolio of BGaming today is more than 90 exciting games with flawless graphics and mathematics, more than 90 supported currencies, including crypto. It is noteworthy that BGaming became the first provider in the world to provide users with games that support cryptocurrencies.
BGaming strives to be a data driven provider, in other words it has its own analytics tools to determine:
- what themes and mechanics are more in demand in certain locations,
- which of the games give high retention (that is, players return to such games again and again), and which games take a high start, and then fade into the shadows,
- what kind of coverage through mobile devices, etc.
In addition, BGaming is a player-oriented provider. This is confirmed by the loyalty of streamers to BGaming games. If streamers are interested in a product produced by a provider, then this product is also of interest to the gambler audience.
It is also important to mention that the BGaming provider is also customer-oriented. The brand pays a lot of attention to communication with operators - it provides quick feedback, is ready for joint projects, welcomes counter offers, if necessary, shares its expertise with online casinos, adjusts workflows to the client and even customises games. The latter means that in addition to the main releases, BGaming offers branding of the game the client needs for their online casino. Thus, the BGaming team helps your casino brand to easily stand out in the competitive market. Contact us!