The entertainment industry is growing rapidly, new startups are constantly emerging, and promising markets are being launched.
According to the report of the IMARC Group online edition, in 2022, the global iGaming segment reached $79.8 billion. Analysts predict that by 2028, it will be estimated at $133.9 billion thanks to the CAGR level of 8.5%.
Among the key segments of the niche that will bring the greatest income to investors, we can name web casinos, betting shops, and poker rooms on the Internet.
The industry’s development will be affected by:
Europe remains the most profitable gambling region. IMARC Group analysts claim that by the end of 2022, the sector brought $40.6 billion in revenue, that is, 50.8% of the total market. The EU has developed clear and transparent legislation for this sphere, the banking sector, and information technology. However, centuries-old casino traditions have been preserved.
The Asian market is considered one of the most attractive. The Philippines is the leader when it comes to the number of implemented iGaming projects since both online and land-based betting is allowed there.
The leadership among large amusement complexes is kept by Macau and Singapore. The most popular type of entertainment there is games with live dealers: roulette, Sic Bo, poker, baccarat, and blackjack.
Africa also has enormous growth potential. In recent years, there has been an active digitalisation of the economy, a significant improvement in the internet connection (the emergence of 4G and 5G transmission towers), and the introduction of modern banking products. The gambling market is also growing, especially in the sectors of mobile casinos and sports betting.
Games for money are part of a highly profitable industry, which is legal in many countries. Moreover, the authorities are constantly working on optimising the regulatory framework.
The main purposes of the changes:
Successful iGaming startups can be launched in many countries but the most favourable conditions are created in such offshore zones as:
The island state is famous for its active support of gambling and business or private educational initiatives at the governmental level. There are more than 450 digital casinos registered in the country, including such famous brands as Betsoft Gaming, Pragmatic Play, Yggdrasil, Playtech, etc.
Entrepreneurs appreciate Malta for:
It is known for the fact that it issues temporary permits for 59 calendar days. To be able to implement an iGaming project in a simplified way, entrepreneurs must hold licences obtained in another country.
Operators get the right to quickly and cost-effectively enter the promising gambling market, evaluate all its advantages from personal experience, and only after that apply for a full B2C or B2B certificate.
The Alderney Gaming Commission is responsible for the issuance and processing of permits. The fee for a new application is £17,000 and for the renewal of a document — £35,000–80,000
The offshore zone was the first in the world to start providing casino licences (since the early 2000s) and certificates that allow businessmen to own Bitcoin gaming sites (since 2017).
At the end of 2023, the island government announced large-scale changes in the regulation of the sector. Innovations are designed to simplify and secure the work of companies.
Advantages of working in the country:
The Isle of Man
It grants permits depending on the chosen business model. Entrepreneurs can get a master or sublicence, a network certificate for the provision of hosting services, and a B2B document that allows for supplying software for casinos.
The regulator requires low taxes: operators pay 0.1–0.15% of GGR depending on their monthly turnover
The United Kingdom Overseas Territory offers clear licensing terms and favourable fiscal rates. Entrepreneurs pay just 1% of GGR, given that the maximum levy is limited by the sum of £425,000 per year.
Benefits of implementing an iGaming project with the local permit:
IT solutions make iGaming projects more secure, modern, and interesting for the audience and profitable for operators.
In 2023, the following innovations are most often used:
Modern casino platforms come with a built-in CRM system.
Universal software performs a wide range of functions:
Innovative casino platforms operate based on Big Data.
The software collects and analyses terabytes of information (about the preferences of clients, current games, market conditions, and changes in the regulatory framework). Based on the received data, operators can make the right decision about the promotion and scaling of their business projects.
Online casinos are open 24/7. Players can visit such resources at any time of the day, make a successful bet, and cash out the prize. Everything happens quickly and safely: the main thing is to have a stable Internet connection.
Access in the 24/7 format increases the money turnover in gambling establishments, the size of the average game check, and the profit of entrepreneurs.
The integration of a chatbot allows operators to be in touch with their customers at any time, instantly respond to their requests, and promptly solve problems that may appear (assistance with verification, as well as the deposition and withdrawal of funds).
The decision to add cryptocurrency payments will expand the geography of users. Blockchain ensures the anonymity of transfers, so they can deposit money and withdraw it from anywhere in the globe. Gaming is becoming available even to residents of states where casino entertainment is considered illegal.
The launch of a project must be built on a comprehensive strategy but it is impossible without drafting an operational plan. The document contains the main stages of opening and promoting a company, the expected profitability indicators, and the programs used (games, platforms, and security systems).
Later, the document will need to be sent to the authorities of the jurisdiction where you want to obtain a licence. The regulator analyses the online casino development plan for the next 5 years, and based on this, decides whether to grant a permit.
The business strategy includes expected KPIs — key performance indicators:
Planned KPIs are compared with real indicators of profitability and ROI. Calculations are carried out in the context of each reporting period. It can be a month, a quarter, or a year. The information received gives an idea of which direction the gambling enterprise is moving and whether it needs an additional infusion of funds.
To launch a successful iGaming startup, entrepreneurs need to:
In 2023, to promote a casino project on the Web, several popular methods can be used:
Performance marketing combines the benefits of all popular promotion methods. This is a modern strategy for attracting and keeping an audience, the purpose of which is to get a specific and measurable result in a short time.
The tool is rapidly gaining popularity. To promote their platforms, business owners are ready to spend money only in effective ways that give good conversion and business profitability.
Entrepreneurs can outsource advertising functions to partner services or private specialists.
Settlements are made in 2 ways:
It is possible to search for partners through special affiliated services. Such programs are often built into the casino resource, allowing its owners to monitor the effectiveness of each marketing channel.
Benefits of affiliate advertising:
The popularity of online casinos has grown during the pandemic when the majority of users have completely or partially switched to the Internet space. The business sector also takes into account the prospects of working on the Web, so in 2023, the main investments in the industry will be associated with the development of this particular area.
Virtual gambling brands are different from traditional land-based locations. Operators get round-the-clock access to their platforms, an endless flow of customers, security assurances, stable income, and other benefits.
The development of the Internet sector is associated with the active digitalisation of the economy and the spread of gadgets. Players prefer to place bets through Apple, Samsung, and Xiaomi mobile devices and smartphones.
A profitable gambling project can be ordered from the 2WinPower studio. We offer:
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