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Online casinos are gaining popularity due to pandemic: how to open one

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Online casinHow to choose the best online casinoos are gaining popularity due to pandemic: how to open one
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It is undeniable that the Internet is taking over the traditional media: news articles are published online, photos are shared on social media, not kept in family albums, and tickets to concerts can be bought through your phone, forget the lines! The entertainment industry is evolving as well, and we are not only talking about streaming services rivaling the television.

The first online gambling sites emerged in the middle of the 1990s, but have become more common in recent years. In 2019, the global online gambling market was estimated to be $53,7 billion worth with Europe as the biggest market accumulating $22 billion. It is expected that in the next 7 years this industry’s global CAGR will be 11,5%, that’s $127,3 billion by 2027. [1] Casinos are the second most popular form of online gambling in Europe, accounting for 32% of the market share in 2018. Online casinos were only surpassed by online sports betting (42,5%) but had left lotteries (12,6%) and internet poker (5%) far behind. [2]

Sounds reassuring, but does having an online casino more promising and secure than the offline one? You see, there are benefits for both internet casinos’ owners and their clients.

The former don’t have to buy or rent space for the real-life casino, the number of employees is significantly smaller, eliminate worries about utility tax or potential robbers. And the customers don’t need to visit another country or drive for hours to get to a casino – they can visit one from the comfort of their homes any time they want. And considering that right now most of the countries are under quarantine due to the COVID-19 pandemic, opening an online gambling service seems like a much better idea. For instance, an Israeli firm Optimove reported a whopping 225% increase of people who started playing online poker for the first time, after the pandemic struck. [3] Also, consider that even after the lockdown is over, many people will be cautious about visiting land-based casinos, prioritizing safety.

So, what do you need to know and do to open an online casino?

First and foremost, set your plans and strategy straight. To open an online casino, you need to figure out a lot of aspects, such as: what will your website look like and what unique features and games will it have, which countries would you like to target, will you need the help of industry experts or SEO-managers to promote your business, etc. If you took care of the planning, you can proceed with the next step.

Choose a gaming software provider. There are plenty of services with a variety of features, so make sure you are not going with the first one you find. The provider must be proven reliable, as well as have customizable software solutions, so you can make your casino look and feel the way you want to.

The selection of available games and slots may vary, some providers develop games themselves, while others offer packages of games from different developers. Either way, the more gaming options you choose – the better, as clients’ preferences differ. Be determined, ask questions, and test services before signing a contract with a software provider.

Get an online gambling license. Having a license is vital to your business, even though the process of obtaining one may be time-consuming. Operating an online casino without a license is illegal. Moreover, most banks and payment service providers will not agree to work with a non-licensed gambling business.

To get a license you first need to choose a country – a gambling jurisdiction – to acquire it from. There are still a lot of places where online casinos are not legalized, but every region has at least one country where you can get your license. For instance, in Europe, you can obtain one under the jurisdiction of Malta, Montenegro, the Isle of Man, Britain, Gibraltar, and others.

Remember that every country has its own set of rules and requirements for online casinos, thus a business owner should choose a jurisdiction with the best possibilities for their company. And also, don’t forget the taxes that also differ locally.

To get a license, you will need to gather all the required documents and make sure that your gaming software provider and site are compliant with the country’s regulations.

Choose a bank or payment gateway service provider to accept money from your clients. It would be better if a PSP supports multiple payment methods, as more people from different countries will be able to use your services.
Note that online gambling and casinos are classified as high-risk businesses, meaning that your company has greater chances to face chargebacks. Because of that, banks usually charge these types of business higher service fees to ensure the merchants are better protected from fraud. For instance, our payment gateway service provider, which is well-experienced in dealing with high-risk companies, Maxpay — is partnered with an anti-fraud platform called Covery, which significantly minimizes the number of fraudulent transactions. We also offer chargeback representation services, meaning that we can process our client’s chargeback and give dispute recommendations.

And lastly, keep in mind that just opening an online casino is not enough for it to be successful – you need to have an impeccable and long-term PR and SEO strategies and be ready to encourage your most dedicated clients, as well as come up with new ideas for games and challenges. In the end, following these tips and rules might make your business highly profitable.

About Maxpay:
Maxpay is a market-leading international payment gateway service provider that keeps merchants first. Built by online business owners for business owners to accelerate growth. Fully compliant with PCI DSS level 1 v3.2 with 5+ years of experience. Global teams provide local insights and online live support for merchants. With companies and partners from 49 jurisdictions, Maxpay provides full-service solutions for accepting card payments in more than 130 currencies with multiple partner banks.

Industry News

iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’

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Industry professionals attending July’s edition of iGB L!VE will have access to a vibrant new feature which will showcase ground-breaking tech and innovation courtesy of the brightest start-ups and small businesses in gaming.

The iGB L!VE LaunchPad (Pulse Stage: 18 July 16.30hrs – 18.00hrs) will feature five companies to present their innovations to a panel of judges with each presentation followed by a probing Q&A session designed to interrogate the viability and commercial prowess of each product pitch.

Introducing the new feature Portfolio Director Naomi Barton, said: “iGB L!VE is constantly evolving in order to meet the business needs of stakeholders. The research programme that we undertake with customers has consistently highlighted a shared desire to always be ahead of the curve, being the first to access the very latest innovations from the start-up community is part of what iGB L!VE 2024 will deliver.

“In addition, we want to provide a platform for new talented businesses to grow by giving them extra exposure in front of an influential C-Level audience of industry investors and influencers.

“The top five products will be hand-selected by the iGB L!VE team and invited to present from the Pulse Stage. In order to help these businesses, we are providing cash prizes of £5,000 for the winner, £2,500 for second place and £1,000 for third.”

She continued: “We will be giving the feature an authentic iGB L!VE twist with the emphasis on competitive fun. To ensure this, I am delighted to confirm that 25+ year industry veteran and non-exec Clarion Gaming Chairman Michael Caselli has agreed to be our MC and will also head a panel of judges drawn from across the iGB L!VE community of industry professionals, investors and sponsors.

“Start-ups and small businesses which have innovation in their DNA can sign up for iGB LaunchPad at igblive by the 28 June deadline.”

iGB L!VE is the home of the igaming community and the only event that connects the leading igaming affiliates, operators, tech vendors, game providers and suppliers in order to maximise performance and drive tangible business growth in the following 12-18 months. iGB L!VE, which is the fastest growing igaming event, delivers unparalleled business opportunities with attendees having free access to in excess of 300 exhibitors and sponsors occupying 21,000+ square metres of gross space, a figure which is 35% higher than in 2023.

For more information on iGB L!VE (16-19 July 2024: Expo Days 17-18 July) and to register for free visit: igblive website

 

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Industry News

Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina

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The Ortak x B.F.T.H. Arena Awards 2024 welcomes Endorphina among other top game developers with its Mr. First Ray, a mystical slot game that captures the essence of dawn.

This year’s competition has seen an unprecedented increase in participation, receiving over 100 submissions from more than 70 developers involved in the innovative Ortak initiative. This platform not only promotes collaboration and innovation but also integrates gaming stakes with NFTs on the Bahamut blockchain, thereby broadening investment prospects in the iGaming sector.

Mr. First Ray transports players into a world where each spin can lead to magical wins and enchanting surprises, making it a standout in this year’s entries. As the event approaches, excitement mounts among industry professionals keen to explore this showcase of creativity and excellence in game development, scheduled from July 1 to 4.

Hosted by BetConstruct, the B.F.T.H. Arena Awards provides a prestigious platform for developers to exhibit their creativity and compete for a share of the substantial 3,333,000 FTN prize pool. This year, the event has broadened its scope, introducing new award categories to further celebrate innovation in gaming.

The culmination of the event will see the winners announced at the B.F.T.H. Arena x Harmony Meetup V, ensuring an exhilarating experience for all attendees.

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Industry News

SPOTLIGHT SPORTS GROUP TO PROVIDE EURO 2024 CONTENT HUBS FOR LEADING BOOKMAKERS

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SPOTLIGHT SPORTS GROUP SUPERFEED IN-PLAY CONTENT PROVEN TO INCREASE BETTING ENGAGEMENT BY 20%
Reading Time: 2 minutes

 

Spotlight Sports Group (SSG), a world-leading technology, content, and media company specialising in sports betting, has partnered with both William Hill and Betfred to deliver content hubs for Euro 2024.

The upcoming international tournament provides a prime opportunity for operators to generate revenue, and Spotlight Sports Group assists in that right through industry-leading content hubs. SSG Content Hubs allow sportsbooks in any territory the chance to offer a premium and rich content experience, without the technical burden.

The end-to-end product and content solution provided by SSG includes expert editorial, data and statistics that are delivered across multiple formats and customisable for individual bookmaker websites. Designed and created in-house, the specific event hubs allow customers to provide interactive betting experiences, compatible across all devices and include live odds and add-to-bet-slip functionality.

In addition, the content hub provides a Best Bet widget that features daily accumulators and Bet Builder picks, as well as the best daily offers and enhanced odds from the bookmaker partners. Video tipping content is also available for every match, as is a scouting report for every team and every fixture, highlighting the most popular players for Bet Builder selections.

Lee Phelps, William Hill Spokesperson said: “The Euros is one of the biggest tournaments around for bettors, and having Spotlight Sports Groups content hubs, means we can provide a real experience for our customers throughout the tournament with editorial, bet prompts and data”.

Mark Hartley, Head of Sports Product at Betfred, was similarly pleased with the deal: We’re delighted to partner with SSG ahead of Euro 2024. We’re excited by the opportunities it brings to us ahead of one of our busiest periods of the year as a bookmaker.”

Sam Houlding, Spotlight Sports Group’s Managing Director of B2B, has shared his excitement at partnering with two of the UK’s leading bookmakers: “It’s great to have two of our key partners taking our content hubs for the biggest tournament of the year. Our content has a proven record of driving revenue, and as it is available in any language globally it appeals to customers all around the world”.

Spotlight Sports Group’s Content Hubs are proven to drive revenues with a rich content experience for betting audiences.

 

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