The iGaming industry has been growing rapidly in recent years, and the whole market is getting a lot more competitive while the players are becoming more demanding.
So, if you want to enter this lucrative niche, you need to consider two important starting points:
- The gambling license
- The solution for starting the operation
When it comes to licenses, the choices are plenty. Naturally, you should still choose one of the better ones, like the licenses awarded by the Malta Gaming Authority or Curacao eGaming.
However, when it comes to the solutions offered by gambling platform providers, you only have three choices:
- White Label
- Turnkey
- API integration
Let’s take a look at all three and their pros and cons, so you can have an easier time choosing which one is the best for you.
White Label
This is the easiest solution available and, most notably, the quickest way to start an online casino from nothing. White Label is a web-based solution that allows you to begin your iGaming business using specific pre-made solutions and some customizable products.
The provider creates and develops the site, and the customer deals with marketing, promotions, and branding.
Made for: people who want to focus on branding and marketing the business without worrying about the platform itself.
Pros:
- Top-notch security systems are included
- The platform provider deals with the gaming license
- You can choose from a wide range of trusted payment methods, both international and local
- The provider offers multilingual B2B or B2C support teams, so you don’t have to hire in-house or outside customer support services
Cons:
- Higher costs than with other solutions, mostly due to how much the provider does instead of the customer
Turnkey Solution
Unlike the White Label solution, with the Turnkey option, you are the one who has to deal with the financial and legal aspects of the website. The supplier is the one who deals with the technical part, i.e. they provide the software and the games.
This makes the whole solution more flexible, and it also allows for more customization, even in the technical part.
Made for: entrepreneurs looking for the most flexible model and highly prepared to deal with gaming licenses and detailed budgeting on their own.
Pros:
- Providers prepare top-notch solutions you can completely manage as you wish
- The solution includes access to KYC management tools, limiting, client categorization, and more
- Providers offer multilingual B2B or B2C support teams, the same as the White Label method
Cons:
- You have to secure the gaming license on your own
- You have to deal with the finances beforehand
API Integration
API integration is a great solution for those who want to integrate different platforms, systems, and applications. This is possible for a lot of businesses, including the ones in the iGaming niche.
You can save a lot of money, time, and effort with this model as the companies offering it can provide integration and automation of numerous processes.
Made for: already-existing operations, not for beginners just joining the iGaming industry
Pros:
- It’s easy to integrate different software solutions
- The model allows for a lot of innovation
- Higher levels of customization are possible
Cons:
- If you have several APIs integrated from various partners, you have to follow up with all of them and maintain the cooperation going forward
- Not suitable for business owners just joining the industry
How to Decide Which Solution Is Perfect for You?
Now that you know the advantages and diosadvantages of all the models, you need to ask yourself a few questions if you want to choose the best solution possible:
- Do I already have a gaming license, or do I need a provider that owns one?
- Have I identified my target audience?
- Do I want a quick solution that’s mostly ready for me to use?
- Do I want a completely manageable business?
Once you have the answers to these questions, you’ll be ready to make your decision. Bear in mind that quick integration and customization are crucial in this business if you want to succeed — another important factor that should influence your decision.
However, once you do, you still need to do careful research, find the right partners, create a good marketing plan, and so much more. Thankfully, after choosing the solution, you’ll be much closer to starting your online gambling business than you were before.
