BetB2B: How to Open a Gambling Business in 2024?

The gambling industry is constantly evolving, thus making the demand for new content from online casinos ever-growing. It is not surprising that this industry has become attractive to entrepreneurs who want to invest in new business areas. Ready-made solutions and gambling platforms are becoming increasingly popular as a means of entering the markets. This approach allows a company to quickly start a new business or scale a ready-made gambling site by adding new content and options.

“To build a successful online gambling business, one needs to use innovative solutions. The modern market is very dynamic. Therefore, fewer and fewer entrepreneurs are willing to spend time and money on developing custom solutions. Preference is given to complex systems that have already shown their effectiveness,” says the BetB2B expert, a casino platform provider company.

In 2024, online casino revenue is projected to reach US$38.96 billion. With an annual growth rate of 5.38%, revenue is expected to hit US$48.04 billion by 2028. The average revenue per user (ARPU) is estimated to be US$376. In 2024, 1.3% of the population is anticipated to engage in online casino gaming, rising to 1.6% by 2028, surpassing 129 million players.

The growth in traffic to online casino websites is due to multiple factors such as the rapid development of technology, an increase in the number of devices connected to the Internet, and a general increase in living standards.

This economic trend is attracting investors. Hundreds of new online casino projects are launched every year. Let's look at what is needed to launch a gambling brand and which platform to choose for this.

BetB2B: How to open a gambling business in 2024?

Before entering the market, it is important to learn about the trends and potential pitfalls to understand what problems may be encountered in the process of launching a new project and what experience will be needed to successfully manage the said product.

“For example, the widespread use of mobile phones and the spread of the Internet increases the demand for gambling. However, it is necessary to take into account the peculiarities of the market to formulate the necessary offer,” notes the BetB2B analyst. If a site does not operate well from a smartphone, then it loses a huge audience. Or if the online casino does not take into account the demand for games with live dealers, which takes up 30% of all gambling entertainment in online casinos. 

Understanding a target audience will help tailor online business so that it has unique characteristics and reaches a wider audience.

If there is an understanding of the market, as well as an understanding of the industry, and the brand is ready to be launched, then we can move on to implementation.

Licensing

The choice of jurisdiction for the casino is key. Each of them offers licenses with certain requirements that a business must meet from the get go. When choosing a jurisdiction, it is important to take into account experience, types of games, costs, and deadlines for obtaining a license.

The most popular jurisdictions are:

• Malta;
• Isle Of Man;
• Antigua and Barbuda;
• Montenegro;
• Curacao;
• Kanhawake;
• Costa Rica;
• Gibraltar

When choosing a jurisdiction, it's necessary to consider to consider the cost of application, the license itself, taxes, and renewal fees. In some cases, obtaining a license is a complex process that requires many checks and collection of documents. Such costs can significantly affect the budget, so the brand should clarify the amount of expenses in advance and allocate the necessary funds for them.

involves a lot of bureaucracy given that quite extensive documentation is needed and expect to have numerous checks in place before finally receiving a license. What should it be like?

Key characteristics of an online casino platform

In general, most platforms provide unified solutions. However, they may differ in quality, convenience, technical characteristics, flexibility, and the ability to update the system without losing performance or content.

Key options and content:

• Casino content. The site should have classic versions of casino games, slots, poker, roulette, etc. Additionally, it should offer unconventional games alongside emerging titles to appeal to a wide range of prospective bettors
• Integration. It is necessary to work closely with the software supplier to ensure high-quality and efficient work. The integration process will include work on payment solutions, localization, partner programs, and agent schemes. Existing casino websites need to be able to connect the solution’s API, and thus expanding the functionality of the brand on the existing infrastructure.
• Monitoring and management. Effective monitoring and management are crucial. Incorporating CMS and CRM systems is vital for streamlined data and cash flow management, content organization, and personalized player interactions. These systems enhance operational efficiency, financial stability, and player satisfaction, ultimately contributing to project success and growth.
• Payment instruments. Payment methods must be convenient and accessible to the region in which the online casino operates. The greater the variety of payment methods, the more opportunities there are for scaling and attracting an interested audience. It is also important for the platform to offer solutions that will allow the processing of crypto payments. This is a current trend that needs to be taken into account when choosing a provider.
• Safety. Online casinos handle substantial data volumes during their operations, necessitating robust security measures to safeguard player information from theft and the casino itself from hacking and cyberattacks.
• Effective support service. - Customer support is crucial during a casino launch to ensure player satisfaction and trust. It provides assistance with inquiries, technical issues, and dispute resolution, fostering positive user experiences. Prompt and reliable support builds credibility, enhances retention rates, and lays the foundation for long-term success in the competitive iGaming industry.

Amidst numerous gambling platform providers, BetB2B presents its product as a compelling option in 2024, showcasing unique features and offerings that set it apart from competitors.

BetB2B: Which platform to choose for the gambling business?

“With over 12 years of industry experience, we possess extensive knowledge and expertise. Serving more than 100 clients, our platform has enabled the establishment of thriving online casino brands, showcasing our deep understanding of the industry. This figure speaks for itself. We regularly improve and introduce new solutions as well as we always update it to the needs of the market. This is the main reason why the online casino platform from BetB2B is relevant in 2024.”, commented BetB2B,

BetB2B offers a comprehensive solution for developing or launching an online casino:

Turnkey Solution BetB2B.This is an all-in-one solution.

Turnkey solution is a solution that allows companies to create an online casino with minimal technical work.

The turnkey solution from BetB2B includes:

• Various payment solutions are already integrated and waiting for new projects (more than 250 secure methods for accepting payments from the client)
• Back office is the administrative hub of a business, with which a client can be managing operations such as finance in which you can see detailed statistics regarding each player, regions, markets.
• CMS. Own site management system, and extensive customization options that can be used for launching marketing campaigns, adjusting banners, and overall layout.
• CRM. system includes its own tool for analyzing marketing activities across different data categories. It's important because it helps businesses track and evaluate the effectiveness of their marketing efforts
• Bonus program. Bonus systems were developed as a means of retaining and promoting projects towards players. It's a vital part of the new projects as a lot of gamblers are highly interested in the bonus systems.
• Affiliate program. Allows to attract players from all over the world.
• European and Asian agent schemes. Flexible system for providing payment systems in regions where it's challenging to do so. It is highly adjustable in regard to limits, commissions, and other terms.
• Technical support. Support in more than 31 languages ​​24/7, training of partner employees.
• Large selection of content:
  • Sportsbook. Bets on over 182 sports.
  • Esports betting. More than 600 pre-match events and 350 live events per week. Non-standard betting markets.
  • Live casino. 12 popular Live casino providers with minimum starting bets.
  • Slots. More than 100 brands of gaming software and 6,000 diverse games in the catalog.
  • BetB2B games. More than 80 unique games from BetB2B.
  • TV games. 4 providers and more than 20 diverse games with dealers.
  • Bingo. 7 providers of more than 60 exciting games.
  • Toto. 7 types of betting for various types of sporting events. High jackpots.
  • Financial rates. All popular currency pairs. Possibility to choose a time and random bets.

This solution can be used to launch an online casino from scratch. Alternatively, iGaming company can integrate the Sportsbook API into an already working project and expand the functionality of the website with a wide portfolio of sports betting.

In general, the comprehensive solution allows:

Enter the market faster. Developing custom software solutions takes a lot of time and resources. Turnkey solution significantly reduces this process and allows to devote more time to growing the business, rather than development and lengthy launch.

Reduce financial costs. The technical side is completely covered by the provider company. This opens up the opportunity for the brand to save money on software development, testing, bug fixes, and improvements.

Support and support. Purchasing a pre-built platform fosters the development of robust partnerships. This is a completely different level of interaction. BetB2B constantly accompanies the brand in the process of launch and further development. Technical support can be requested at any time and the brand will never be left alone with any difficulties.