How to Develop a White Label Crypto iGaming Platform
As more players turn to cryptocurrencies for their convenience and security, the demand for white label crypto iGaming platforms is on the rise. Pairing the time to market and cost effectiveness of a white label solution with the power of a crypto platform can be a terrific option for prospective operators. Today we’re taking a look at the key steps needed in order to develop a white label crypto iGaming platform, and how Lion Gaming can help you along the way.
Understanding white label platforms
Before delving into the specifics of a white label crypto iGaming platform, it’s essential to understand the concept of white labeling. White label solutions allow businesses to use a pre-built product or service and rebrand it as their own. In contrast, some iGaming operators with more resources and bigger budgets can consider developing betting technology in-house. In iGaming, white label solutions allow operators to purchase a fully functioning platform that can be taken to market quickly. Furthermore, white label solutions are a fraction of the cost of building a platform from the ground up.
Building crypto integrations directly into your iGaming platform will open up all kinds of doors for potential players. In many ways, crypto is the future of the iGaming industry. Crypto capabilities attract tech-savvy bettors that are looking for added security, transparency, and some privacy in their iGaming experiences.
The popularity of cryptocurrencies and digital assets has grown exponentially in the last couple of years. Here are some reasons why:
Faster transaction speeds
Due to their decentralized nature, crypto transactions are lightning fast. They do not rely on traditional banks being open and happen instantaneously on the blockchain.
Added security and transparency
Cryptocurrencies use cryptographic models that leverage complex coding structures to secure their sensitive data transfers. As a result, crypto transactions are extremely difficult to counterfeit. Furthermore, transactions on the blockchain come with a digital receipt available to both parties.
Some software providers even offer on-chain wagering for the highest levels of security in the industry. Check out this blog post breaking down on-chain wagering for more information.
Unlike fiat currencies, crypto transactions do not require the user to disclose any personal information, like their name, contact details or address.
Cryptocurrencies have lower transaction fees than credit cards, making them an attractive option for cost-savvy bettors.
Steps to develop a white label crypto iGaming platform
There are a few key steps that need to be taken in order to develop a white label crypto iGaming platform. We’ve listed them below.
To start things off, conduct thorough market research to identify market trends and unique opportunities. It’s essential to understand your target audience and their preferences. This includes games, payment methods, security features and more. Put yourself in the shoes of your target audience – does your platform meet all of their needs? You need to understand the pain points and preferences that drive their decision making.
Licensing and legal compliance
Ensure that you comply with all relevant regulations and obtain the necessary licenses. Cryptocurrencies often have specific legal requirements, so consult legal experts with expertise in the field.
Choosing a reliable white label provider
Selecting the right white label provider is critical. Software is the engine that drives every iGaming platform, so this is arguably the most important decision you’ll make! When you’re evaluating software providers, remember to look for award nominations and wins, customer testimonials and even partnerships the provider has made. It’s important to make sure your business aligns well with theirs!
Tailor the platform to match your brand identity. This goes far beyond custom colours and adding your company logo. Things like game selection and mechanics can be adjusted to fit the needs of your players.
Offer a diverse range of games to cater to various player preferences. The best software providers have access to a suite of in-house games, as well as games from third party providers. The same applies for crypto sportsbooks – make sure you have a wide range of events and the best odds and margins.
Invest in top-notch security measures to protect your platform from cyber threats and fraud. The best software providers will have these built directly into their white label solutions.
Develop a comprehensive marketing strategy to attract players to your platform. Consider using social media, SEO and affiliate programs to expand your reach.
For a complete breakdown of how to get started in iGaming marketing, check out Lion Gaming’s Ultimate iGaming Operator Marketing Playbook. The Playbook covers various marketing techniques and strategies that can help you and your business find some genuine success.
Provide excellent customer support to address player inquiries and issues promptly. Occasional problems and hiccups in your service are just part of the game, but it’s your response that your players will remember!
Before launching your platform, conduct thorough testing to identify and resolve any glitches or issues.
Monitoring and optimization
Continuously monitor the performance of your platform and gather user feedback. Use this data to make improvements and optimize the gaming experience.
The iGaming industry is booming, and the power of cryptocurrencies and digital assets can be harnessed to grow your platform. Developing a white label crypto iGaming platform is a strategic move that combines the efficiency of white labeling with the power of crypto technology.
By partnering with Lion Gaming, you gain access to a reliable and customizable solution that simplifies the development process. Contact us today and let’s discuss how we can get your white label crypto platform up and running!