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The pandemic and global legalization of gambling have made sportsbook business and online casino ventures (and esportsbook offerings) more lucrative in 2023. The potential for high revenue generation from these businesses is a tempting prospect for entrepreneurs and investors. For this reason, some investors look at launching their own fully-fledged gambling platforms.
According to H2 Gambling Capital, online gambling was worth about $81.08 billion as of 2022. In the next five years, it’s predicted to climb up to $117 billion, showing iGaming revenues are on the up. Thus, some are looking to launch an online casino and sportsbook platform in 2023.
Keep reading to find out what to consider when launching one.
Getting a Comprehensive iGaming Platform
Getting a comprehensive iGaming platform is the basis for launching an online casino software and a sportsbook platform (or esportsbook one). It provides casino business owners with numerous sportsbook solutions, customizable betting platforms, and fully-fledged gambling solutions.
It’s more like a database housing all your online casino operations. When you have a comprehensive iGaming platform, developing user-friendly websites or compatible versions is apparently easier. And users can access their dashboard from any device.
With an all-inclusive iGaming platform, the integration of your sportsbook solutions or esportsbook solutions can become hassle-free. It facilitates transparent transactions and makes your site versatile in terms of payment options. Users can place bets, make deposits and withdraw profits with different payment options.
A comprehensive iGaming platform often includes a fully-fledged turnkey solution, website API, retail business solutions and a sport engine. There are tons of reliable providers. However, NuxGame is a one-stop solution provider for all online gambling integrations.
NuxGame Comprehensive iGaming Platform
When opting for a comprehensive iGaming platform from NuxGame:
- You get an all-in-one solution, 24/7 support, customizable software, and an integrated anti-scam solution.
- You can also get your online casino and sportsbook platform live within 48 hours.
- As a trusted online gambling software provider, NuxGame ensures its solutions come with a smart setup for sourcing analytical data, client retention, etc.
- Whether you need readymade sports gambling software or gaming content, NuxGame ensures operators receive services that suit their requirements.
Process of Launching an Online Casino and Sportsbook Platform
The process of setting up an online casino and sportsbook platform (or esports one) becomes more straightforward with an all-inclusive iGaming platform. From legal consultations to marketing modules, operators can get their sports book software live in roughly 48 hours.
Nevertheless, here are the procedures for launching an online casino and sportsbook platform:
Perform Market Research
Market research helps you to understand how the iGaming market works, including finding your target audience and competitors. It allows you to identify new business opportunities and grants you access to the demands of potential clients.
Conducting market research is important when launching an online casino because it helps you design solutions that will meet clients’ expectations and needs. Furthermore, market research helps reduce risks as it reveals potential threats you could face in the long run.
Learn the laws of sports gambling
Despite the regional differences in gambling legalization, every country has a few legal considerations. Some countries legalizes online casinos and sports betting, while some don’t. Sometimes in certain countries, you’ll find different regulations governing the market.
So, when launching your online gambling platform, first shortlist specific areas you wish to operate. Afterward, carry out an in-depth assessment of compliance and legal guidelines of those areas before choosing a territory.
Get a License
You can always get a license from any jurisdiction around the globe. However, each of them has different licensing requirements and processes.
The huge fines some countries enact on gambling operators without licenses put off many companies which attempt to operate without a license, and rightly so. It’s always the best idea to obtain a gambling license and do things by the book.
Build a team of dedicated staff
An online casino isn’t a one-person venture. Online casino operators can only succeed with a squad of specialists. So, operators should have at least a handful of specialists in different areas of the platform. There should be a staff in the finance department, monitoring users’ accounts, payroll and CFO.
Other staff can be in the anti-fraud section, marketing, data analysis, technical solutions and player support. That way, the business is likely to operate more smoothly.
Create betting website
This is the major process involved in the online casino and esportsbook and sportsbook business. The website is where users interact, place bets, deposit and withdraw winnings. At this stage, operators should invest in a comprehensive iGaming platform with numerous integrations and solutions for their websites.
NuxGame’s iGaming platform will provide your website with an integrated anti-scam solution, user-friendly and convenient back-office, customizable software, etc. Furthermore, you can also find readymade retail betting software to integrate your casino content.
Conclusion
It can be time-consuming to launch your online casino and sportsbook platform (or esportsbook platform) and get it live quickly. But with NuxGame’s comprehensive iGaming platform, the whole process is completed in 48 hours, from legal considerations to creating a betting website.
What’s more, your esports or sports gambling site will have access to a wide range of offers and content for potential clients. With these processes in mind, start your adventure in the online gambling business and make the most of it.
