With the rapid rate of technological innovation and the increasing number of governments that are introducing new regulations, the worldwide online gambling industry is growing at an astonishing pace. Online casinos are growing in popularity as ways to quickly and effectively generate substantial amounts of revenue.
But as foolproof as the plan may seem, there are plenty of pitfalls that lie in wait for operators whose eyes are so fixed on the prize they take their mind off the details. For an online casino business to prosper, a lot of different things need to go well - at the same time - and making even one crucial mistake can spell disaster.
Here, Slotegrator presents some of the most common online casino operator mistakes - and how to fix them.
Mistake: Flawed Design
It’s critical to differentiate your platform from the rest of the crowd in as many ways as possible. Some online casino operators cut corners when it comes to their website’s design, assuming the nuts and bolts of the website itself won’t really matter as long as players have access to slots.
But operators who think it doesn’t matter what the website looks like will soon find out that beauty is in the eye of the beholder - and in this case, the beholders are the players, who won’t deposit money on a website so poorly designed that it looks suspicious and sets off their alarm bells.
Solution: Good Design
A website should be visually appealing and easily navigable. Text should be easy to be read, and the overall color scheme should be pleasing to the eye and avoid harsh, acidic colors. Equally as important as the site’s aesthetics is the navigability. Buttons should be obvious and easy to find, so that players can register or play in as few clicks as possible.
Do not miss: Guide to Online Casino Design
Mistake: Poor Communication
A common complaint among players, and one that can get a casino blacklisted in player communities, is poor response to player complaints. Platforms might assume that player complaints will be so few that they can be ignored, or they might simply not bother with setting up an effective customer support system. If players feel that their legitimate concerns are not addressed in a timely manner, they will lose their trust in the site and play elsewhere.
Solution: Effective Customer Support
It’s critical to offer high-quality customer support. Players should hear responses to their complaints as soon as possible. Some platforms offer 24/7 customer support to make sure that player concerns are always addressed as quickly as possible.
Mistake: Failure to Market
A casino without effective promotion might as well exist in a vacuum. Hoping that players stumble upon the platform of their own accord and that news of it spreads by word of mouth is naive and foolish. Online casinos need consistent deposits from new and returning players in order to survive, and operators who do not enact an effective marketing strategy will pay the price.
Solution: Effective Marketing
There are plenty of effective marketing strategies that should be used to go after the target market. One very popular marketing strategy for online casinos is to join affiliate programs. Affiliates place advertisements for the casino on their website, and when visitors click on one of the advertisements they’re directed to a landing page where they enter their details. This can dramatically increase traffic.
One powerful tool that casino operators can use is a Customer Relationship Management (CRM) system. CRM systems collect very detailed user data which the operator can use to enhance user experiences by providing tailored offers and bonuses. Effective use of Customer Relationship Management (CRM) systems opens the door to a range of different marketing techniques, like real-time marketing, where online casinos offer players tailored promotional offers according to up-to-the-minute data. In addition to personalized offers, many casinos offer welcome and sign-up bonuses, as well as other promotions like loyalty and VIP programs to earn and retain player loyalty.
The age of batch-and-blast email is long gone. Tailoring emails to specific player segments - and even specific players - is a much more effective promotion method for online casinos. Well-crafted emails with subject lines and preheaders designed to pique players’ interest are a great way to stay at the forefront of their minds. Additionally, online casinos should maximize their online presence by establishing and maintaining a high ranking in search engine results through SEO optimization.
Mistake: Limited Offerings
Those who believe that online casinos are all the same probably shouldn’t be going into the business anyway, but operators who assume that players don’t have discerning tastes regarding the games they play are in for a sour surprise. Some operators equip their platforms with a narrow range of slots and call it a day, and then one day find a mass exodus has occurred, all their players abandoning the platform in search of greener and more exciting pastures.
Solution: A Full Range of Games
First, operators should define the market of operation and target audience so that they can offer games that are popular in the specific market. Tailoring the game selection to players’ tastes goes a long way towards ensuring a platform’s popularity. However, slots alone are not enough. Online casinos can offer all kinds of card games, for example, as well as bingo and lotteries.
Sports betting, including virtual sports, fantasy sports, and esports, enjoys a high level of popularity in markets across the world, and many online gambling platforms have found it worthwhile to open an online sportsbook. Just like slots, operators should research their market of operation to determine which sports are the most popular and offer them on their platform.
Live dealer games are going through a period of skyrocketing popularity. Blackjack, baccarat, poker and roulette are among the most popular of live dealer games, and there is a huge number of other possibilities. Some live dealer suppliers are using the live dealer format as an opportunity for even further innovation. Evolution Gaming, for example, offers Deal or No Deal Live, the world’s first 24/7 game show, and MONOPOLY Live, a money wheel based on the classic board game.
Mistake: Not Pushing the Right Content
One mistake that operators occasionally make is overlooking the order of game content in the casino lobby. Some operators do not organize the casino lobby in a structured way and fail to push newer games, leaving the lobby looking same and forcing players to browse for something fresh to play. This is proven to result in an increased bounce rate. This especially applies to operators that have just added new game providers to their casino and wonder why the games by the recently-added provider do not perform well.
Solution: Push and Rotate Game Content
It is crucial to rotate and push popular and new games on the top panel of the casino lobby to increase the visibility of the game and draw players’ attention to it. If the new game appears higher in the lobby, there is a higher chance of players clicking on it and trying more games by the same game developer. Pushing new game content through a top panel in the lobby is a proven method to get the players to notice it and increase GGR on the given games and game providers.
Mistake: Low-Quality Software and Lack of License
No business model loves a trim margin, but operators that forgo the costs of quality software and licensing will pay a heavy price. Some casino operators, chasing quick profits and hoping to keep their margins as high as possible, strike deals with the cheapest software providers they can find and forgo the licensing process.
Solution: Obtain a License and Partner With Quality Providers
An online casino that’s been blocked by the authorities will have a hard time earning profits. Though they’re often expensive, the license is worth getting. Likewise for software providers. To keep players coming back, it’s important to partner with leading software providers and game developers to make sure the online casino offers the best possible user experience.
Mistake: A Single Payment Method
Operators that only accept bets in a single currency effectively cut themselves off from streams of revenue, as players might visit casinos that are targeting a foreign country. Also, some online casinos only accept deposits through a single method, blocking players who don’t have access to that particular method.
Solution: A Variety of Payment Methods and Currencies
It’s much better to accept deposits in a variety of currencies, as well as cryptocurrencies like Bitcoin. Credit cards and bank transfers are very popular payment methods, but e-wallets are also rising in popularity, especially in jurisdictions where regulators prohibit banks from conducting gambling-related transactions.
Mistake: Slow (or No) Payouts
No player enjoys winning big and then having to wait months and months to receive his payout after requesting a cashout. Slow payouts - or, even worse, not paying out at all - will give the casino a terrible reputation and cause traffic to dry up and disappear.
Solution: Fast, Effective Payment Processing
Get your fraud and payments department to work. Smoothing out the payout process will make players happy enough to keep coming back and spending money at the casino. If high rollers and big wins damage your brand, implement wagering requirements and limits on cashouts on the bonuses, and make sure the rules are reflected in clear, well-structured Terms and Conditions.
Mistake: Appearing Illegitimate
Casinos that don’t put in an effort to appear as trustworthy as possible run a huge risk of losing players’ faith. Casinos that don’t publicize their Terms and Conditions and contact information come across as shady right off the bat. Also, some casinos don’t put enough care or attention towards making the user experience as smooth and enjoyable as possible.
Terms and conditions should be well-structured and transparent, clearly displaying the casino’s rules regarding bonuses and cashouts. Online casinos should also post information regarding their licenses and certificates, so that players can easily see which governing body provided the casino with its license and which other organizations have certified the casino. Casinos should also post their list of secure payment methods.
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