Inspired by the success stories of Supercell, NetEnt and Evolution Gaming, more people than ever before are considering entering the online games industry. Competition in the space has skyrocketed year on year, and there are also more players in the market than ever before.
Creating a gaming industry startup in most major markets is relatively straightforward. At least, in terms of the basic logistics of getting things off the ground. But when it comes to running a successful gaming industry startup, things aren’t quite so straightforward.
Still, you need only look at the inspiring ‘rags to riches’ stories of gaming companies like Supercell to understand where the appeal of the whole thing lies. Achieving fame and fortune via the online gaming industry isn’t easy, but those who make it are able to write their own tickets.
A Wide Open Market
The wide range of programming tools available today -especially for mobile devices – means that the threshold for game development is lower than ever. Almost anyone can now develop their own mobile game, and add it to the app store for others to download. But for a game to become a big and lasting success, it needs to be much more than just an amateur-level offering.
Oftentimes, there is a larger team of professionals behind the scenes who polish games to give them street cred.
The mobile boom has triggered the creation of a huge number of companies specialising in mobile games. By contrast, far fewer companies specialise in gambling and online casino technology. To succeed in the online casino space, you need to have a rich and detailed understanding of what players actually want. Something that differs significantly from one market to the next, and cannot be taken for granted.
For example, one of the most popular search terms in Finland is verovapaa kasino ilman rekisteröitymistä, in Germany Steuerfreies Online-Casino, and in the UK best online casinos. Something that illustrates the differences in preferences and priorities between players from different markets.
Setting up an Online Business: Passion is Everything
The first thing you need to start a business is passion. It goes without saying that if you’re not passionate about the thing you’re starting a business in, it’s not going to happen. If your enthusiasm runs out, so does the desire to develop the business, and eventually, the business is gone.
Whatever it is that you are passionate about, make it your profession. If you’re interested in designer bags, set up an online shop for fashion accessories. If you’re passionate about poker, set up a poker room online. Passion is something that unites the owners of all successful businesses.
It’s also the thing that helps you invest in your business even when times are tough in the market, and when difficulties get in the way of entrepreneurship.
If your dream is to set up your own casino, today’s infrastructure offers a tremendous framework for designing and building one. Even so, setting up your own business is a long and demanding process, and you need to be prepared to take the rough with the smooth.
The cornerstones of setting up a casino start with good planning, the various stages of implementation and finally the launch of the casino itself. Setting up your own casino requires patience and the vision to put yourself in the shoes of paying customers. What is the first thing a paying customer looks for? How to attract customers to a newly opened casino?
Of course, having your own IT skills and a broad understanding of the online gaming sector is a plus. However, few people can get their own gaming platform up and running all by themselves, so it’s worth enlisting the help of partners and other experts in the field from the very beginning.
Identifying Your Casino Brand’s USP
When building a self-built gaming platform, you need to consider the site’s external design, creativity and ingenuity, the benefits it offers customers, and its technical prowess. Merely supplying the games themselves (even from leading providers) is not enough.
One very important factor in the design phase of a new casino launch is its ability to stand out from the crowd. If all the other elements are in place but come across as generic, success is not guaranteed.
Distinctiveness can be looked at from many different angles. You need to be able to put yourself in the shoes of the customer and think about the factors that build trust and attention. What will bring customers back to your casino, time and time again?
Is the appeal of your casino based on top-notch security, a unique look, your gift for storytelling or unbeatable bonuses? The importance of customer service must never be overlooked, and a user-friendly interface is an absolute must.
You also need to think about the type of online establishment you intend to run. Are you planning to build a large and international casino, and do you have the language skills to write game descriptions and other texts? Do you have your sights set on a specific localized market, and do you know what it wants and needs from an online casino?
Accurate and Realistic Budgeting
Last up, the potential costs involved in setting up an online casino or not to be underestimated. Depending on where you intend to operate, applying for a casino license could set you back five figures.
Do you currently have the capital to set up a business, or will you need to get investors to invest in your project? Have you planned for all possible contingencies financially, and are you sure you will have enough money at your disposal to sustain your lifestyle in the meantime? If you intend to bring others on board to support your new business, have you factored their wages and costs into your calculations?
Be mindful of the fact that if you intend to borrow money (from a bank or anywhere else), you’ll need to present a convincing business plan. One with solid financial projections, and evidence of having planned for all outcomes.
You might also find the following articles interesting:
- 10 Reasons You’re Doomed to Stay Poor…Unless You Change Your Ways!
- 5 New Bingo Trends to Look Out For
- 10 Things Not to Say to Someone Who’s Just Lost Big