From land-based to online casino: steps that will lead to minimal loses
In connection with the latest events in the world, namely the spread of the Covid-19 viral disease, many businesses that are associated with people have suffered losses due to the forced temporary closure. It has also affected the gaming industry - land-based casinos.
It is not known how long the situation in the world will last, but casino owners have a life saver solution - go online, both to save their business and to attract new customers because the trend of transition from land-based to online casinos has been going on for a long time. Therefore, in this article 1Click Games company will tell you about the differences between conducting a land-based and online casino business and how to transfer to the online environment with minimal losses.
The legal side
The first step in making a decision to go online – is the legal side. It is important to check the existing license and find out if they fit the requirements for an online business. Not all land-based casino licenses fit the needs of an online business, but if your license cannot be used to create an online version of your casino, 1Click Games will solve this problem, by helping your business go online in the fastest time with all the licenses needed.
The difference in finances online vs. land-based
For people who are not familiar with the online gambling industry at first, the difference in financial sector may surprise them a bit, so you need to be prepared for the fact that in order to successfully run an online casino you need to understand how its profit is considered. For a land-based casino, it is extremely simple: the amount of money received at the cash desk minus all payments made will give you the profit of a land-based casino per day. In other words: Net Income = Total Revenue - Total Expenses.
The profit of online casinos takes into account two main indicators - GGR and NGR. This is because the money received on the player’s account does not belong to an online casino. The player uses them for bets, thereby winning, losing or withdrawing from his account. GRR - (gross gaming revenue) is calculated by total bets minus total wins. NGR - (Net Gaming Revenue) - is calculated from total bets minus total wins, promotions, chargebacks and payment processing fees.
In a land-based casino player give the funds straight to the cashier, and in online casino payments processing fees exist, because all the funds that enter the casino come from electronic payment transactions - credit and debit cards, pre-paid cards, e-wallets, etc.
Chargebacks occur when a player makes a deposit, but does not use the money for the game. In this case, he has the right to return all the invested amount back to his bank account.
Marketing to attract players also occupies a huge part in the finances of online casinos. In particular, these are bonuses that are offered to players when replenishing a deposit or registering on the site. Received bonus money must be wagered according to the rules of the online casino, and they cannot be withdrawn from the account or partially withdrawn. When compiling such a program, it is important to refer to a professional who will make all the correct calculations so that the online casino does not turn into a loss.
The last expenses, which do not exist in a land-based casino are affiliates programs. Affiliate programs help make online casinos popular and recognizable, drive traffic and new players for whom you have to pay.
The marketing in online business
Marketing in an online casino is an important component that cannot be ignored. Having a successful land-based casino does not give any guarantees that the brand will be successful online. Typically, less than half of the land-based casino players join the online casino, which means that without the right marketing strategy and budget for it, the online casino will not be successful. Fortunately, existing land-based casinos can be used to visually advertise the online analog: flyers, visual materials, visual use of online casinos through various devices (tablet, smartphone), bonuses during registration, etc. Also, marketing strategies such as SEO, publishing reviews of online casinos, articles and casino news in various gambling industry media have a great influence on the brand.
Customer Care 24/7
In a land-based casino there are always staff who can help and answer any players questions, then in an online casino this is much more difficult. The information on the site is not always enough to provide support to the player because the customer support is usually engaged in player adoption on the site. Customer support can be available in the form of an online chat, a telephone agent or an agent who responds to emails. For experienced players, there is no problem with the adoption of the site and the development of payment systems, but if the player has never played in an online casino before, or perhaps this is a region where online gambling is not particularly popular, then the players need assistance.
It is also necessary to think about the design of the site itself because it will help players to navigate. Detailed information on how to make a payment, receive a refund or withdraw funds must be perfect for familiarizing players. A clean design based on UX also will help to immerse players into the website faster. In order not to waste time exploring new areas, 1Click Games can offer a ready-made online casino site in just a month, which will meet all your requirements, brand and will be adapted to your chosen market. 1Click Games will also provide customer support, which will help your players with any questions.
Advantages of combining land-based and online businesses
In order not to argue about which type of casino is still more profitable - online or land-based, you can read our article - Why online casinos are better than land-based in 2020. There is an excellent solution so that you don’t have to choose which business to leave - a combination of both casinos to improve your business. For example, in an online casino, you can always provide games that are not available in a land-based casino or make a bias on a completely new product for yourself like lotteries or sportsbook.
Expanding the range of your services, will attract more customers to your business - someone will want to come to your land-based casino and spend time, and someone will become a regular visitor to your online casino.
If you own a land-based casino but want to expand your business and go online, then 1Click Games will be a great choice for your future business. We will provide your online casino as soon as possible, offer all our available products - casino, lottery or sportsbook. We will create a user-friendly website, that will have responsive skin to adapt to any kind of gadgets: PC, laptop, tablet or smartphone. And in the end, you will receive a licensed, fully optimized casino with its unique marketing strategies, promotions, and features. 1Click Games has many years’ experience in creating a really great product and bringing an existing business to a new level. Your online casino is only a click away, so please request a quote and our company’s representative will contact you as soon as possible.