Money For Lunch – Questions To Ask Yourself Before You Start An Online Gaming Business

Questions To Ask Yourself Before You Start An Online Gaming Business

March 8, 2018 9:45 AM0 commentsViews: 8

Click here to get this post in PDF

The online gaming industry is not an easy one to enter. Big name providers such as William Hill and Betway dominate. They get the lion’s share of the worldwide revenue that is produced; this stood at $US 37 billion, in 2015. This does not mean that you cannot be successful when setting up an online gaming business. You just need to plan carefully, and ask yourself the right questions.

These questions need to be based around giving yourself the best chance of succeeding. To do this you need to focus on how to attract and retain customers and how to survive in a crowded market.

What gaming experience do you want to offer?

Visit one of the major online gaming sites and you will see that most of them provide an all-round gaming experience including slots, table games such as Blackjack and sports betting. As a new entrant into the industry, it makes sense for you to focus on providing one aspect of gaming to a high standard; at least to begin with.

For instance, you may want to create a place where people can play a wide variety of slot games, including movie themed slots and progressive jackpot games. Alternatively, it may be a good idea to provide sportsbook action online. You can unlock a wide variety of options by using software from the big name providers such as PlayTech and NetEnt.

How can you make things easy for customers?

Once you have decided which type of gaming experience you want to offer, you need to attract customers to enjoy it. One of the best ways to do this is to make the experience as simple as possible. For instance, some players find it easier to play at sites that offer prepaid gambling cards because they have problems with using their credit card or debit card. This happens a lot in countries such as the US where banks are restricted from allowing card funds to be released for gambling.

There are several other ways that you can make life easier for customer:

  • Permit the use of several different currencies.
  • Enable payment methods such as Skrill and Neteller in addition to card payments and direct bank transfers.
  • Ensure that your website is easy to navigate.
  • Ensure that your website is mobile friendly as many people now use a mobile device to access the Internet more than they use a desktop.

How can you compete with the big names?

As a small online gaming operator, at least to begin with, it’s going to be difficult for you to compete with the big names in areas such as mainstream sports betting. This is why it makes sense to find a niche, such as college football, where you can build up your expertise and provide a specialist betting experience to a small but loyal customer base. Doing this helps you to get your foot into the door of the online gaming industry.

Answering these three simple questions helps to give you the start that you need. It will still take a lot of hard work to succeed but at least you will be on your way.

Tags:

Comments are closed