Do you ever dream of getting into the gambling industry? You may be headed on the right entrepreneurship path. The UK gambling industry generated £3.2 billion in 2018/2019. The UK alone accounts for 15% of Europe’s gambling revenues. Even a small percentage of this money is a serious amount. Setting up an online casino may be easier than you think. With a white label platform and clever marketing like bier haus slot machine online free, you can crack the market.
What is a White Label Platform?
If you had to set up an online casino from scratch, you would need to hire an army of programmers to write code for different games. You would also require top-notch user experience designers and website designers to set up the online casino website and mobile app. Such a venture can run into millions of pounds.
A white label platform comes with all this work done, so you only need to add your brand. You get a premade casino that is already licensed and ready to launch. White label platforms are developed by well-established iGaming software companies. Many online casinos are on white label arrangements, which explains the explosive growth of the industry.
What Do You Get With a White Label?
The iGaming developer usually asks for an initial setup fee. You will also provide your preferred branding logos and colors. The iGaming developer delivers a package with:
- License from the UK Gambling Commission
- A platform on the website and mobile app
- Casino games you choose, including slots, card table games, and live casino games
- Financial infrastructure with a payment processing system, fraud detection and prevention, and KYC verifications
- 24/7 support
The iGaming developer takes care of the backend, including the technical operations and maintenance. You come up with the branding and marketing material. You are also responsible for acquiring customers, which means you bear marketing costs.
How Much Does it Cost?
The costs for a white label depend on what you need in the package. A package with all the above components can cost up to £35,000. The price will go down if you need only the gaming platform and take care of the financial infrastructure, web hosting, and customer support. Some iGaming developers ask for around £10,000 for basic packages.
How Do You Make Money?
A white label arrangement thrives on profit sharing. The more costs you bear, the higher your cut for the profits will be. Spending more gives you more clout in the arrangement.
Why Choose a White Label?
Going for a white label arrangement comes with several advantages:
- Lower capital requirements – You need less than developing from scratch
- Faster setup – A white label online casino can be set up in a time as short as one week
- Licensing – You do not have to deal with the hassle of meeting licensing requirements
- Top-notch financial infrastructure – You get the benefits of professional set up in various payment methods while not compromising on security
But you must also know several downsides of going for the easy way. You will face stiff competition from other online casinos with the same white label arrangement with your iGaming provider. You will offer the same games, so you must work hard to make your brand stand out.
The iGaming provider retains a certain element of control. You cannot change the games as you wish. You will also have to implement any changes the iGaming developer makes, even if they are not suitable for your business model.
A white label online casino remains the easiest route to claiming your share in this multi-billion industry. If you are new to the industry, it would be wise to start small and grow as you learn the industry ins and outs.