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5 rules to starting an online casino or sportsbook (anywhere in the world)
If you’re looking to invest in a business sector that can outrun large-scale economic downturns, including a global pandemic, then look no further than online gambling. It’s a shining example of resilience in the face of strife – and that’s because gambling will never go out of style. This thought has occurred to many entrepreneurs, attested by the seemingly endless stream of new online casinos and sportsbooks.
But the internet is a very big place and there’s plenty of room for new ventures of all sizes. Getting started is the hard part, but turnkey platform providers like WiseGaming step in to help you avoid common mistakes that can result in unfortunate cash burnout. Here are five rules to keep in mind:
- Don’t try to do everything. This might seem like backwards advice but launching an online gambling business involves several moving parts that can become quite burdensome for a startup. Choose a solid online gaming platform provider, such as WiseGaming [https://wisegaming.com], who do all the hard stuff for you. This will allow you the time to focus on an extended business strategy, market analysis, finincial projections, and marketing plans.
- Partner with the best providers. Players look for games they recognize as this assures them that your site is a safe option. Using an aggregator will guarantee you make an impactful first impression with the best game library and sports markets from day one. WiseGaming [https://wisegaming.com] offers sportsbook software with over 100 sports, and has also teamed up with world famous providers like Pragmatic Play, Evolution Gaming and Play’n GO, allowing you to onboard a winning selection of over 10,000 games without the stress of multiple contracts.
- Pick a memorable brand and leverage it. A weak marketing plan is often a huge stumbling block for many fledgling brands. In a crowded and competitive space, you need to stand out with copy and design that appeals to your target demographic. Whether that’s something traditional or novel, choose your lane and commit across all your branding material. Your iGaming platform must be white-lable enabled, so you can make a first impression that generates sign ups and conversions.
- Get your finances right. You need a considerable amount of capital to get started, but your financial obligations don’t end there. Annual income projections, break-even worksheets, projected cash flow statements, and balance sheets – there’s a lot to keep your eye on both before and after launch. Smart financial planning allows you to benchmark your progress to success, which is why offloading platform responsibilities to a reliable provider can be crucial in those early days.
- Choose your license carefully. The law comes down hard on casinos and sportsbooks recently, and while safer gambling is a great thing, it can also result in nasty fines. If you’re new to the scene, it’s probably a smart move to stay out of heavily regulated jurisdictions. It’s faster and easier to launch with an iGaming platform on a Curaçao license, where you’re subject to less scrutiny and have access to several, diverse markets. WiseGaming software is compliant with the majority of regulated jurisdictions, giving you the freedom to decide.
WiseGaming isn’t your only option when it comes to choosing an online gaming platform provider, but they come with an unparalleled understanding of today’s gaming market and a wealth of hands-on experience. Check them out here and decide for yourself.
Latest News
Scientific Games and New York Lottery Continue Nearly 50-Year Primary Scratch-Off Game Partnership
More High-performance Scratch-off Entertainment from Company Coming to New York Player.
Scientific Games and the New York Lottery will continue their nearly 50-year partnership to bring world-leading instant scratch-off games to players in the state with a new primary provider contract. The partnership, which began in 1976, powered the New York Lottery’s Scratch-Off games to a $4.4 billion product by fiscal year 2022-2023 and helped contribute billions in funding for education in the state.
The New York Lottery boasts one of the highest total lottery profits in North America and is ranked No. 8 worldwide for instant scratch game sales (La Fleur’s 2024 World Almanac). The collaborative, primary provider partnership with Scientific Games has resulted in a well-balanced scratch-off portfolio, with three price points ranked in the top five in the U.S. for weekly per capita sales (MAP 52-week average per capita). Focus on $30 scratch-offs with innovative designs and strategic prize structures that appeal to a broad player base has delivered consistent top performers.
“The New York Lottery is proud to continue its partnership with Scientific Games,” said Gweneth Dean, Director of the New York Lottery. “For decades, our collaboration has resulted in billions of dollars for New York’s public schools, and we look forward to creating exciting new games for our players and supporting our dedicated retailers across the state.”
As part of the new contract, Scientific Games will continue to provide the New York Lottery with consumer and product research and data analytics, game development and portfolio planning to help ensure the success of the Lottery’s scratch-off games.
“We’re honored to continue as the primary scratch-off game provider to one of the world’s most successful lotteries and support their important mission to fund education for New York students,” said John Schulz, President of Americas & Global Instant Products for Scientific Games. “Our long-standing, strategic partnership has continued to bring entertaining scratch entertainment experiences to players in the state, and we look forward to many more decades of success together.”
U.S.-based Scientific Games created and produced the New York Lottery’s very first scratch-off game and has worked side-by-side with the Lottery to provide products across the state’s network of approximately 14,000 lottery retailers.
With products that generate more than 70% of global instant game retail sales, Scientific Games is the world’s largest lottery games creator, producer and services provider, and the primary provider to nine of the Top 10 performing instant game lotteries in the world.
Poker players who want to cash-in on Vegas’ biggest summer series without playing a hand are heading to ACR Poker.
The popular online poker site is debuting its Fantasy Poker League: Vegas. “Everyone loves Fantasy Sports and now we’re capturing the same excitement for all the hot poker action in Vegas this summer,” stated ACR Pro, Chris Moneymaker. “This is truly the ultimate Fantasy Poker showdown, and you won’t want to miss it.”
From May 15th to 28th, the Fantasy Poker League: Vegas offers players worldwide the opportunity to draft their dream poker team for a chance to win cash prizes. Participants choose up to eight poker pros with an allotted budget amount. Points are then earned as the pros compete in live poker events in Sin City’s hottest summer series.
As the series unfolds, players can track their team’s progress on the daily leaderboard to determine how their selected teams are performing against the competition.
There are three fantasy leagues to choose from, and they cost $20, $100, or $500, with no added fees from ACR Poker. And there’s no limit on the number of teams that a person can create. Moneymaker also added that participants can conveniently choose their team(s) from the Rewards Section of the ACR Poker client.
For more info on the Fantasy Poker League: Vegas, visit the promo page at ACRPoker.eu.
ELA Games, an innovative slot provider in the iGaming industry, is thrilled to announce the release of its latest slot machine game, Big Wave Delight. This new game features an advanced design, original mechanics, and a unique “Bonus Purchase” feature, setting a new standard in the gaming industry.
“Dive into the ultimate Hawaiian surf adventure with Big Wave Delight,” says Mike Cini, Business Owner of ELA Games. “Our latest slot machine offers players a thrilling gaming experience with every spin. The unique ‘Bonus Purchase’ feature and the ‘Wild Wave Respin’ feature, where every Wild landing triggers a respin and summons a massive surfing board as a Wild symbol on the reel, are sure to keep players engaged and entertained.”
Players can also hit the waves with Free Spins, scoring 10 thrilling spins with random multipliers (up to 10x) on each whirl. With up to 3 Wild Surfboards on every spin, players can expect epic wins!
The ELA Games team has just returned from SIGMA Americas in Sao Paulo, which took place from 22-24 April. The team is now preparing for the CasinoBeats Summit 2024 in Malta, where Mike Cini will be participating in a discussion panel titled “Navigating niche – mainstream opinion on alternative games“ on 22nd May.
The post ELA Games Announces New Slot Game – Big Wave Delight appeared first on European Gaming Industry News.
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