SBC News Voice of the Sports Betting Industry
Within the Latin American region, operators are continuously looking to elevate their digital offering to consumers through modern poker content, writes Dmitry Starostenkov, CEO at EvenBet Gaming. However, it has become apparent that there are common mistakes that operators are making, leading to inferior offerings and non-profitable launches within the market. When starting anything new, especially in the business world, it is important to have a unique vision and good understanding, to solve any challenges that may become apparent in its daily operation.
As a poker platform provider to the industry for over 15 years, we have deep knowledge of how digital poker should be rolled out in an efficient manner. There are a few elements that need to be considered when launching an online poker offering:
Finding the right business model is key
The starting point in launching an online poker offering would be to determine the right business model: a Poker Network or a Standalone Poker Room.
A Poker Network is generally a network solution that incorporates a white-label poker software solution and is the best choice for operators with no prior experience in the industry or a vast user base, along with a limited budget. Joining a poker network provides high liquidity, easier room management, a quick start-up process and lower operational costs.
A Standalone Poker Room is ideal for operators who are focused on independence and want full customisation. This model gives businesses full control of back-office management, setting all rules and running all metrics. With this model, an operator has the ability to fine-tune their marketing strategy to best benefit them. For instance, if the right developer has been chosen, an operator can set up a powerful Customer Relationship Management (CRM) system, a wide range of bonus, promotion, and jackpot settings.
A good understanding of each model would be beneficial to operators and will guide the decision process when selecting the right business model. On the contrary, a lack of understanding can result in technical restructuring if an operator first chooses a standalone model and then switches to an existing network. It is recommended that an operator considers joining a poker network before building a standalone poker room to gain confidence and experience in the game.
Required regulation
Within the gaming industry, there are many regulatory demands and poker is no exception. Regulation is among one of the current trends in the gaming vertical worldwide that is constantly evolving, and it is an important one because it builds a clear framework for operators and protects players.
Currently, many jurisdictions require companies to ensure compliance obligations, which means that operators should take all the necessary steps to adhere to relevant laws and regulations in their everyday practice. Some of the factors to consider are understanding the regulatory compliance framework in which the business will operate, managing the certificates, licences and compliance systems, and staying up to date with regulatory developments.
Given the geographical complexities of multi-jurisdictional licensing and compliance, a company would benefit hugely by having a compliance officer or consultant who should be at the forefront of solving regulatory issues to adequately measure and manage any risks the company may encounter.
Looks matter
Another important aspect to seriously consider is the design and UI (User Interface) vision of your online poker room. Customers are looking for a unique and special experience whenever they access your products. Thus, customisation of your business serves as a recipe for how to distinguish among competitors in the market.
However, the scale of customisation can be different for everyone, as an operator needs to understand whether the product with basic design will be competitive in their market or not. If an operator is looking for a simple and inexpensive way to customise themselves, they can achieve this by customising only their logo, leaving the provider’s design. But, if an operator’s priority is to provide a unique software look from the start of their business launch, they would need to put adequate time and effort into this ahead of the unveiling.
When choosing to customise the software, operators need to consider that the more unique the website they demand, the more effort it will require from both the operator and their provider. The integration time framework heavily depends on the customisation volume, therefore the provider needs to know about an operator’s plans in advance.
A solution is near
Of course, there are additional elements that an operator needs to take into account when launching a portfolio of poker games. From identifying the right payment methods, to onboarding consumers through effective marketing strategies, there is a lot to consider. However, when done correctly, a robust poker solution can attract a large customer base and more revenue, which is the goal of any operator.
To help operators understand the potential pitfalls and to implement solutions to avoid issues, the team at EvenBet have created a useful ebook that addresses all the common mistakes to help operators seamlessly launch an efficient poker program.
To find out more about the ebook, please click here.
