Building an Online Casino Platform
The online gambling industry is booming with more entrepreneurs and investors seeking out online casino platforms to capture a piece of the multi-billion dollar online gambling market. With thousands of searches each month for online casino platform queries, and seemingly thousands of possible platform providers, it’s important to know what makes one provider different from another. Choosing the right partner to build your online casino is important, so let’s start by looking at the different types of online casino platforms available.
White label online casino platforms
One of the most popular options for people who are looking for an online casino platform to support their iGaming operation are white label casino solutions. White label casino platforms such as the ones developed by Lion Gaming have built include everything you need to start and run an online casino.
All white label online casino platforms will of course come with casino games from some of the most popular games providers, but there are other important aspects of platforms that you need to consider. Some of the things to look for when evaluating online casino software include back office tools, robust player account management (PAM) systems, secure payment gateways, mobile design capability, the ability to create bonuses and promotions, email marketing tools, affiliate management systems, and ready-to-use gambling licenses. All these components are essential to ensure the success of your online casino operation.
Furthermore, prospective operators should be on the lookout for platforms that can not only accept crypto as a payment, but feature on-chain wagering and full crypto capabilities.
Turnkey online casino platforms
A turnkey online casino platform is very similar to a white label casino platform. The only real difference is that operators using turnkey solutions bring their own gaming license to their operation, whereas with a white label solution a gambling license is provided by the online casino platform. There are benefits to each type of solution, and operators should see if online casino technology providers offer solutions suitable for both options. One benefit to choosing a white label solution over a turnkey solution is that you can get up and running quickly and you don’t need to spend time going through the legal processes involved in securing a gaming license. On the other hand, turnkey solutions can be beneficial for operators who want to have more control of their online casino platform.
Customizing an online casino platform
We have written in the past about the reasons why customization is important in iGaming. We’ll briefly summarize why the ability for your online casino platform provider to customize your website is critical to the success of your operation here. The main reason why your platform provider should offer customized solutions is so that your online casino stands out among the competition.
At Lion Gaming, customization is a promise we deliver to all the partners that we work with. We ensure that your online casino is built to give your players a unique experience that they won’t be able to find anywhere else. Research has shown that customization increases the perceived quality of a product, enhances loyalty toward service providers, and increases customer satisfaction with a product. It’s easy to see how these three areas can help online casinos not only acquire players but retain them as well. In an industry as competitive as iGaming, online casino operators should do everything in their power to retain their players and prevent them from going to other websites. The customization of your online casino platform is something that can help accomplish your player retention initiatives.
Offering a sportsbook platform
In today’s market it’s important that online casinos satisfy all the demands of their bettors in one place. A sportsbook offering can play an important role in the retention of your players.
Think about it, why would a player look for one website to satisfy their desire to play slots, and go to another website to satisfy their desire to bet on sports? A comprehensive, all-in-one solution can make the difference between someone who signs up and deposits on your website and a player who leaves to go satisfy their betting demands elsewhere. If you want to create an iGaming solution that’s successful both in the short and long term, you need to think about incorporating a sportsbook to your online casino platform.
Many providers will offer one or the other, so it’s important to ask if a sportsbook is available before getting too deep in conversations with potential online casino platform providers. Lion Gaming offers both white label sportsbook platforms and online casino solutions that can be packaged in one offering for our partners.
The cost of online casino platforms
Depending on the platform provider you choose, costs can vary greatly. Most platform providers charge an upfront fee to use their software which can range anywhere from the low five-figure range to the high six-figure range depending on the provider you speak with. On top of the upfront licensing fee that online casino platforms charge, there are monthly revenue sharing arrangements put in place as well. Again, depending on the provider you go with, most online casinos can expect to pay anywhere from 10% – 50% of their Gross Gaming Revenue to their technology provider.
Interested in the cost of Lion Gaming’s software?
If you’re interested in learning more about the cost of Lion Gaming’s online casino software, you can contact us here or email us at [email protected] and we’ll be happy to talk through everything you need to know about starting an online casino.