- November 17, 2023
The global iGaming market is actively developing and is expected to grow at a CAGR of 12.56% by 2028. The explosive growth of the gaming industry is also accompanied by the development of the Internet and the economic growth of various countries in recent years; all have effects. With the rapid rise of the iGaming industry, its generous returns and the emergence of the white label iGaming industry have made the threshold for operating a gambling platform less unattainable, thus successfully attracting more and more new gambling operations and businessmen. However, when you are optimistic about a new target gambling market, you will often find that there are already competitors in this market. And if there are no competitors in a market, you may also feel hesitant and uneasy about entering such a market. Therefore, whether it is an emerging overseas gaming market or a mature overseas gaming market, before entering a new gaming market, you need to be fully prepared to cope with the competitive pressure that the gaming platform will face after its official operation. The preparation includes but is not limited to market research, compliance review, marketing strategy formulation, etc.
The success of every iGaming platform is no accident. It requires detailed planning, strategic execution, and unswerving execution of the plan. This requires not only a deep understanding of the comprehensive trends in the entire betting market but also the ability to accurately grasp every subtle change. In this article, we will take a step-by-step look at what is needed for a successful iGaming platform. We’ll take a closer look at these factors to better understand how they work together to drive a betting platform apart from its competitors.
Target Gambling Market Outlook and Regulations
Before entering the overseas gambling market, it is crucial to have a thorough understanding of the prospects of the target market, as well as its laws and regulations. More specifically, this means that comprehensive research and forecasting must be conducted so that potential risks and opportunities can be accurately identified and understood.
First, make a list of the markets that you think are most attractive for your gambling business. This may include some thriving and solid betting markets or some emerging and rapidly growing markets. Then, conduct in-depth research to understand your target market, including demographics, economics, regulations, mindset, and culture. Doing so can help you better understand the market situation and trends. It is then better to focus on one market rather than spread your resources too thinly across multiple betting markets. Choosing a market to focus your efforts on is a strategic decision that will help you utilize your resources more efficiently and increase your likelihood of success. When you decide which market is best for you, you should thoroughly understand your target market. This step is tedious but crucial – exploring the laws and regulations of your target gambling market. These regulations can affect your business operations, so it's important to understand them.
I remember that I once wrote an article about countries and regions where overseas gambling is legal, "Countries and Regions with Legal Gambling in 2023". You gambling tycoons can click to learn more. This article contains a lot of useful information to help you better understand betting markets around the world so that you can find the market that is best for you.
In the iGaming industry, whether a gambling operator has enough understanding of its target users can determine the success or failure of a gambling platform. After understanding the overall economy, humanities, and regulations of the target market, spend more time understanding the behaviors, preferences, and motivations of target players and users. This includes understanding what games they like, when and where they play, their spending habits, and more. Conduct in-depth market user surveys, collect player feedback, and combine your own advantages to analyze and find a business model that suits you. Through the users' information, we guide users to choose gambling games or determine the main direction of their own gambling platform while taking into account the website design and overall user experience of the gambling platform. Additionally, tailoring your product to resonate with player preferences creates a personalized gaming experience that fosters loyalty, increases conversions, and motivates lapsed players to return. Considering each country’s social values, analyzing player habits, and having a clear understanding of regulations will give your betting platform a solid foundation for success. Finally, constantly adapting and optimizing your business strategy to adapt to market changes and user needs will keep your gambling business competitive and successful.
Every successful business, no matter how big or small, starts with a solid and effective business plan. When formulating a plan, whether it is a large strategic framework or small operational steps, it needs to be as thorough and detailed as possible. This is very important for the growth of the enterprise.
First of all, clearly state the goals of your iGaming platform and the environment of the gambling market, including the market’s competitive situation, policy and regulatory environment, and the type attributes of your target player users. These factors will affect your market positioning and marketing strategy. Next, you need to consider and plan an effective marketing strategy that can attract and retain those target gamers.
You need to customize your marketing plan according to your target market. At the same time, conversion and new recruits on the site must be included in your marketing plan. But these aren’t just your complete business plans. Incorporating a financial budget into your business plan is necessary. A financial budget will give you an idea of the costs associated with getting your gambling platform up and running. Use this to better control and allocate your resources.
In addition to formulating a reliable business plan, building a reliable and professional team is the core link. Because no matter how perfect your plans and strategies are, they must be implemented in the end. A mature team with strong execution capabilities is the cornerstone of the success of a gaming platform.
With a sound business plan, you can make wise and correct decisions, set market-appropriate goals, measure the development progress of your platform, adapt to industry changes in the current gaming market, and re-evaluate and refine your plan again. This is also an integral part of being a betting operator. A clear strategy will serve as your gaming platform development roadmap, guiding your team and taking your gaming platform from zero to one.
Having a gambling license can be considered a passport that is essential for your team, promotional channels, and even politicians. If you want to use a more exaggerated term to describe the gambling license, then it is like a "good citizen certificate." With this kind of license, you can do a lot of things. The editor of TC-Gaming will not go into detail about the various possibilities here. I believe that the big guys in the gaming industry must know more about this than me. However, one thing that needs special emphasis is that different regions or countries may have very different values for the authenticity and credibility of a gambling platform due to differences in folk customs. This is an important factor to take into consideration as it may directly impact the success of your betting business.
Innovation and Technology in Gambling Platform Games
To stay ahead of the competition in the competitive betting market, you need to understand how betting game innovation works and how to implement it into your online betting platform. For example, Integrating technologies such as artificial intelligence (AI), virtual reality (VR), blockchain, and cryptocurrencies can greatly benefit your gaming platform business.
First, the introduction of artificial intelligence has revolutionized the way security protocols for iGaming are implemented. AI can not only prevent common gambling risks such as cheating and hacking but also help you achieve more effective marketing management. For example, AI tools can be used to create personalized real-time marketing strategies and monitor player gaming behavior.
In addition, AI intelligence-driven chatbots can simplify processes such as user registration, game selection, and transaction deposits and withdrawals. By using AI technology, we can improve the convenience and security of the platform, improve customer experience, and increase user stickiness and conversion.
When it comes to virtual reality, AR and VR casinos can create immersive gaming environments. As the price of VR glasses slowly drops, players are increasingly interested in bridging the gap between the real and virtual worlds. This provides new development opportunities for gambling platforms.
Blockchain technology also brings new possibilities to the gambling industry. It can provide transparency and security of transactions. Blockchain gambling has a decentralized structure that ensures transaction security, transparency, and automation. At the same time, providing cryptocurrency recharge can provide convenient payment options for global players.
Although some of the new technologies mentioned above are not yet perfect and are only in their preliminary stages, staying at the forefront of technological innovation in gaming platforms can position your gaming platform as a trendsetter in the gaming industry.
However, to realize these innovative gaming technologies requires the support of a stable and strong technical team of the Baotou Network Company. Therefore, it is crucial to choose a stable and reliable white label iGaming company as a partner. Gambling tycoons can also read the previous issue of "How to Choose The Right White Label iGaming Company?" "How to Choose A White Label iGaming Company? "The Chaos of the White Label iGaming Industry," and other articles related to white label iGaming to understand how to choose a good white label iGaming company.
TC-Gaming has more than ten years of rich experience in the field of white label iGaming. We provide a 24/7 professional maintenance team and one-to-one dedicated service. From a partner's perspective, we are committed to providing you with a full range of technical support and services to solve technical problems while minimizing early development costs and resource waste. It only takes 10 minutes to set up the website, supports multiple languages, and continuously recommends popular local games. Our goal is to allow you to have a strong technical team as your backing when venturing into the overseas gaming market so that you can face various challenges with ease and successfully achieve your gaming career goals.
Overseas gaming marketing and promotion
Effective marketing campaigns are crucial to attracting and retaining players in the highly competitive iGaming industry. The best solution is to employ a mix of marketing channels that resonate with your target audience. This requires in-depth research into player messaging sources, which may include newsletters, online advertising, email campaigns, and text message marketing. Then, according to the characteristics of your own gambling platform, create some attractive content to highlight the unique features and advantages of your iGaming platform.
To expand your reach and attract a new customer base, consider agency partnership programs as well. This is one of the most common and effective methods in the iGaming industry. You can collaborate with bloggers, live streamers, gambling review sites, industry influencers, and more. Additionally, spending time on search engine optimization (SEO) is totally worth it. SEO can bring you a large number of customers directly from search engines such as Google and Baidu. In the iGaming industry, SEO is far more important than in other industries because, in many countries and regions, traditional gambling advertising is subject to strict restrictions. Whether you use white hat or black hat SEO techniques, they need to be executed according to the resources and business strategies of your gambling platform. At the same time, don’t forget to use social media for marketing, such as Instagram, Facebook, Twitter, Douyin, TikTok, YouTube, and some local social applications, which are all potential customer groups. Through reasonable marketing strategies and channels, you can improve the brand awareness of your betting platform and increase website traffic.
Common marketing channels may include:
- Internet marketing and social media, web search, etc. These are the most common marketing methods, but there are also backup plans. For example, when social media is blocked, there needs to be a strategy that can bypass the blockade and reach users to ensure that marketing channels are unimpeded.
- Telephone marketing and SMS marketing, whether it is traditional SMS or Internet information. And we shouldn’t ignore traditional text messaging today. Mass messaging is not expensive. If the situation requires, you can also consider using pseudo-base stations for marketing.
- Traditional offline marketing. Due to the particularity of the gaming industry, offline marketing usually requires disguise or packaging promotion, such as promoting by sponsoring events or holding related activities or using old users to help attract new users through word-of-mouth publicity.
However, in addition to attracting players through marketing ads, you also need to keep bettors engaged. The most commonly used method is to provide incentives such as first-deposit rewards, turnover rewards, and second and third-deposit rewards.
Bonuses are not only great for attracting new users, they are also great for retaining existing players. By using an effective player segmentation strategy and tailoring bonuses to individual preferences, you can increase the attractiveness of your bonuses. Contests can also add a competitive element to betting users, increase fun, encourage players to participate, and keep players motivated.
Personalized email marketing is a great way to keep your players engaged and connected with them. Setting a reasonable return to player (RTP) range can reflect the fairness of the game and improve user expectations.
Finally, a customer relationship management (CRM) system is an effective tool for gaming operators to customize promotion strategies, segment players, and count and monitor various marketing channels. By providing rewards, points, and personalized services (such as VIP and loyalty programs for long-term players), user loyalty can be greatly improved.
Build a community of bettors
It is very important to build a thriving player communication community, which can include various online and offline groups, as well as dedicated website communities. The goal is to deeply engage with players on multiple levels to foster a sense of belonging and loyalty. For example, interactive forums or social media groups can be created where players can share their gaming experiences, exchange tips, and even challenge each other. In addition, the regular release of various online and offline activities, membership programs, participation rewards, or competitions can not only further consolidate the connection between players and your brand but also increase player activity and stickiness. Moreover, by actively cultivating a community user base, you can effectively retain existing players and attract more new players through their word-of-mouth recommendations, thereby giving your brand and products greater influence and visibility in the market.
A successful iGaming platform requires careful planning and execution. Choosing the right market, developing a comprehensive business plan, incorporating innovative technology, an in-depth understanding of the target audience, implementing effective marketing strategies, and building a thriving community are all key factors for success in the highly competitive overseas gambling market.
In addition, to stand out in such a competitive market, you must make full use of the latest technologies, such as artificial intelligence, blockchain, and virtual reality. These technologies can not only improve the user experience of the platform but also improve operational efficiency and reduce costs. At the same time, it is also crucial to choose a white label iGaming company with stable technical strength and rich experience as a partner.
In the process of operating in overseas markets, effective marketing strategies and promotion methods cannot be ignored. You need to find the marketing channels that best reach your target audience, delve into their sources of information, and craft engaging marketing content accordingly. For example, you can use newsletters, online advertising, email campaigns, SMS marketing, and more to highlight the unique features and benefits of your betting platform.
In addition, community building cannot be forgotten. Building a prosperous player community can improve players' sense of belonging and loyalty, increase their activity, and attract more new players through their word-of-mouth recommendations. You can also further consolidate the connection between players and your brand by regularly releasing various online and offline activities, membership programs, participation rewards, or competitions. To succeed in the overseas gaming market, you need to be fully prepared, constantly innovate, be user-centered, build a strong marketing strategy, and continue to optimize and iterate your gaming platform.
TC-Gaming spans Vietnam, Cambodia, Thailand, Myanmar, Malaysia, India, Indonesia, Brazil, Japan, South Korea, China, and other overseas countries, providing multi-language services and system conversion. With profound accumulation in the gaming market, we have profound insights and analysis into the white label iGaming industry. As a well-established iGaming company, we have more than 16 years of iGaming experience. Through batches of highly skilled R&D teams and dedicated pre-sales and after-sales teams, we provide exclusive iGaming templates that are close to the preferences of local gamblers. Supports multiple languages to meet various overseas white label iGaming needs. TC-Gaming White Label iGaming serves all white label iGaming customers with a full range of technologies and services. In line with the purpose of credibility first and technology as support, it constantly improves customer needs and works hand in hand with customers to create a win-win situation.