Table of Contents
ToggleWhile the world was suffering the aftermath of the global pandemic, online casinos surpassed land-based casinos to assert their dominance worldwide. According to the reports by Grand View Research, the online gambling market evaluation is about to touch an all-time high i.e., $153.6 billion by the end of 2030.
Table of Contents
ToggleAmong them, a hefty percentage comprises land-based casinos starting online platforms. Although this transition came with numerous prospects to strengthen the virtual platform with its existing reputation, it couldn’t assure the success of the emerging platform. Apart from the existing reputation, the online platform will instantly have access to the customer databases, established distribution and marketing tactics, and compliance with the license providers.
💡Interesting Fact:
The International Gambling Report 2021 by YouGov shows more than 63% of the worldwide population is partial towards online casinos over land-based ones. |
Strategically integrating both of these forms under one franchise not only helps with better visibility but also ensures the constant cash flow from both channels. So, instead of taking online casino platforms as rivals, most of the land-based casinos are spreading their presence online.
The factors that drive the audience for both of these platforms differ significantly. These land-based casino franchises are integrating different strategies to thrive online, which we are about to discuss in this article elaborately, so keep reading.
Land-based as well as online casinos cannot operate legally without a permit which is provided by a licensing body. Legal structures for both types of casinos can vary significantly across jurisdictions and licensing authorities. For an already established land-based casino, it is essential to check if their license provider is compatible with online services.
A casino can expand its services online only if the jurisdiction permits online casinos; hence, legal consultation is an utmost necessity before entering the online platform. The iGaming industry is highly regulated and by not obtaining a license one can severely sabotage the business. They end up risking,
IMPORTANT: One can get blacklisted from obtaining licenses for offline and online gambling platforms in the future and be subject to fines and imprisonment for operating illegally (without a license).
Why get an iGaming license?
In short, you open yourself up for risk-free functioning and an omnichannel growth opportunity.
A Marketing strategy plays a critical role in making any business successful. Irrespective of the status of an already existing casino banner or a Johnny-come-lately, creating an intricate marketing plan comes foremost. In this case, a land-based casino might have an established persona in the market but that won’t directly translate into its success as an online platform.
If that had been the case, the industry could have seen a lot more transitions; but it is far from the truth. Only a moderate percentage of land-based casinos (30–40%) advance and expand their Land based Casinos online in spite of having the resources required.
The marketing plan may include,
Just like it requires separate marketing strategies for land-based casinos to grow in an online ecosystem, the same holds true when it comes to finances. The operators will be required to master different financial concepts for their online venture. The Land-Based Casino Strategies are pretty simple. However, the concept of calculating profit differs substantially in online casinos. Unlike land-based casinos, there are concepts like ‘payment processing fees’ in the case of online casinos.
It is an amount charged by payment providers for any transaction executed through them. Chargebacks are amounts requested by punters without them making a deposit prior to the gaming session. Moreover, people tend to hold their money in their online casino accounts. So even though the player has transferred the money into his casino account, the amount doesn’t belong to the casino yet and hence cannot be counted as a gain.
Profit flows in 2 streams for online casinos:
Other associated expenses include the significant amount of money that goes into paying software providers.
Service is paramount for both iGaming and Land-Based Casinos. Understanding customer needs and filling those gaps is important for retaining existing customers. It is easier to serve customers at a land-based casino— through greetings and direct interactions. In case of any questions, they can directly reach out to any staff members of the casino.
On the contrary, owners of an online casino should never forget that the players are on their own; to make the experience seamless, every detail regarding the game has to be provided so that the game remains uninterrupted.
Choosing the correct payment service provider is one of the cornerstones of gaining customer trust. While there are some payment platforms that are available for only a specific population, most of the popular providers operate worldwide. The key is to strike a deal with those popular ones to cater to the widest range of audiences without any interruption.
Branching out from a chip-based simple transaction to a completely different deposit-withdrawal system may seem difficult at first but the current world is booming with technologies to make these electronic transactions effortless.
A diverse portfolio of the most popular casino games is an absolute necessity. These games should have a lag-free operation and visually appealing graphics with smooth animation.
Meanwhile, land based casinos are limited in their offered products, an online casino platform can leverage the space provided. This is a major difference that can be seen in land-based casinos vs online casinos. To keep players entertained and spoil them with options, operators should integrate more than just casino games; this can include sportsbook options, eSports, live gaming, lotteries, bingos and EGMs. (if permitted by the government).
Read Also:- How To Start Your Own Online Casino In Less Than 5 Minutes?
Considering all these points, land based casinos planning to venture into the world of online casino gaming is a profitable idea. Whereas, focusing on the profit itself we tend to overlook the work that it requires. Several factors demand attention. This includes extensive planning, market research, re-branding and marketing, and implementing the best technology to give the ideas wings. To make sure the online version of the brand attains an equal level of success as the land-based casino, choose the best online casino builders and casino game providers.
Here, to make your journey easier, we bring you PieGaming, an online casino software provider with the credibility to manage player accounts, CMS, and API integration; it safeguards your platform from potential risks as well. PieGaming has been in operation for almost a decade and has helped 100+ white labels worldwide transition into a hybrid interface. So, if you are planning to turn your ideas into action, stay in touch with us.
PieGaming platform is a host of collective voices with expertise in the iGaming industry. We bring to you blogs and posts curated by enthusiasts sharing their insights, experiences, and knowledge about the thrilling world of online casinos gaming and betting.
In this blog post, we will discuss RTP Casino games. Learn how Return to Player percentages impact player retention, game popularity, and overall…
Explore how a casino back office system enhances profits through effective management, data analysis, and operational efficiency, driving success in the gaming industry….
Explore top live casino software providers in the Philippines. Know how they’re improving gameplay with stunning visuals and immersive experiences. Thus, making online…
Create an atmosphere of a live casino in the virtual world seamlessly with the evolving technology in the current world. Just like leading…
Want to start an online casino in Latin America? This guide breaks down iGaming in Latam, covering everything from laws to what players…
Online casino bonuses are taking the iGaming industry by storm, and operators who ignore them do so at their peril! If you’re a…
As a casino operator, you might have wondered several times, if the games that you’re featuring are engaging enough in the current scenario….
Do you think that iGaming is just about traditional online casinos? Well, think again. 2024 sees sweepstakes casino taking center stage, adding a…
iGaming in Brazil is one of the hottest discussions in the iGaming town right now! What has changed in Brazil’s betting dynamics? How…
Dive into the world of iGaming incentives. Explore definitions and types of top online casino bonuses and promotions. Learn about the best practices…
Do you know that the iGaming market is growing at a Compound Annual Growth Rate (CAGR) of 12%, with its initial value set…
In the current high-risk world of iGaming, innovation has become the key to success. It is the foundation of any thriving online casino…
Randomness is the foundation of iGaming. It is a cornerstone of the game’s outcome. In a traditional land-based casino, iGaming is sheer luck….
When it comes to the fiercely competitive world of online gambling, choosing the right white label casino software means the difference between jackpot…
As a kid, you might have come across a CD or DVD jampacked with an assortment of games. Wasn’t it like hitting a…
In this faster-than-ever-evolving world of online gambling, only innovative solutions and strategic partnerships can help operators stay ahead of the game. We are…
Turnkey casino software solutions – an all-in-one jackpot primed to propel your online casino dreams into a profit-pulling reality! With just a few…
Turnkey online casino software provides a ready-to-launch platform with games, payment gateways, and management tools, enabling rapid market entry for online gambling businesses….
Explore the key differences between white-label and turnkey solutions for building an online casino. Also, learn how to pick the right one for your business.
This blog offers the best strategies to promote online Casino in 2024 and stay ahead. We have covered simple, effective techniques to attract new players.
Planning to buy online casino software in 2024. Go through this insightful guide on how to buy online casinos, curated by our team of experts especially for you.
You need planning, funds, a casino software provider, and compliance with laws to open an online casino. Learn how to open an online casino in Mexico.
The biggest players in the market consider Argentina to be one of the most yielding markets in the future of Latin American online…
Are you concerned with finding the best online casino builder for your new online casino business? The ever changing landscape of the casino…
Do you feel it is the right time for you to start an online mini-casino business? In that case, you should have a…
Ever dreamt of creating an online casino that not only entertains but also brings in substantial revenue? The time is now! Start an…
Have you been thinking of starting your own online casino for quite a long time but haven’t been able to pick one? Establishing…
In the online casino industry, trends come and go. One trend that’s been there for a long time is crash casino games. It…
Online casino is the most popular choice among global players participating in iGaming. Its huge popularity ensures online casino operators offer high-quality betting…
The casino gaming industry is a hugе and еvеr-changing part of thе еntеrtainmеnt markеt. It has a rich history and has еvolvеd significantly,…
The iGaming industry is continuously developing new ways to keep players engaged. Casino crash game is one such exciting online game. It has…
Online Casino games have taken over the world in the gaming industry in recent times. If you are willing to establish a business…
See you in your inbox soon!
Stay ahead of the game. Subscribe for exclusive content, updates, and insiders!
We use cookies to enhance and personalize your browsing experience. By continuing to use our website, you agree to our Privacy Policy.