With an ever-growing iGaming industry predicted to hit $97.7BN this year, longing for a slice of the pie shouldn’t come as a shocker. Similarly, it shouldn’t be surprising that the number of businesses looking to help start-ups establish and mature is overwhelmingly abundant. The sector’s revenue in the U.S.
Breached $23BN last year, according to a Statista report, and could double by 2027, meaning that if you weren’t among the business-savvy ones to ride the wave last year, you have all the chances to kick-start your venture now. One of the most important and influential things you’ll have to tick off your list is the partners that will help your business take off and scale.
The right collaborator will distinguish between grossing shedloads and falling flat. Don’t go for broke because your criteria of choice were superficially crayoned. This rundown of essentials your selected partner should have to help you win the jackpot can be your guiding light and shortcut to success, so read on!
An attractive portfolio of partnerships
An iGaming and software developer associate doesn’t have to speak about their successes; their portfolio will do it for them. Being presented with such a track record of previous successful brand partnerships will give you a realistic idea of the expectations and possibilities of accomplishment you can have, showing you where their ambitions and areas of specialization are. This will help you pick the most suitable variant for you.
The vaster the expertise area is, the more experienced they should be in the world of iGaming, possibly excelling in payment methods, licenses, and products that can benefit your venture. Whether on-land or online, your collaborators can make or break your success.
You may be dealing in live casino games, P2P games, video slots, sports betting, horse racing, Hollywood bets, and even flash games – your chosen betting partner should be prepared to take on whatever lucrative proposition you may bring to them. Their roadmaps, from the promotion and marketing strategy to the practical gaming experience, should be readily available and accessible to prospective partners.
Good reputation
You live in a transparent world where pretty much any detail you’ll look for in a reputable company should be listed online—except those that aren’t obligatorily listed and of public interest. This is why one of the first things you should do when looking for a potential partner is to look them up on different platforms, such as Google, LinkedIn, Clutch, Trustpilot, and so on.
Good feedback and ratings, commentaries from individuals or ventures in the niche, and fixed complaints all symbolize that you may have encountered a brand with a solid reputation. A recent survey shows that almost 58% of adults consider a brand’s reputation before buying from them.
The right partner rejoices over an abundant base of commentaries and feedback from their users, for they know that their status is vital to drawing in new clients, boosting retention rates, and developing brand loyalty, all of which are vital in the iGaming sector.
A range of payment solutions
The selection of payment opportunities your iGaming and casino partner offers is of huge importance, as they’re directly linked to gamer satisfaction and the efficiency of your collaboration. A great online gaming partner provides a vast selection of payment methods to meet the needs of multiple player types and more regional requirements since you’ll likely be covering more geographical areas.
For instance, your users are better off being allowed to use e-wallets like PayPal, their debit and credit cards, bank transfers, and, why not, cryptocurrencies. From Bitcoin to Ethereum to Tether, over 14,000 cryptos exist, and more and more are being incorporated into businesses’ payment systems to cater to a rising e-gamer category.
Look for these signs in your prospective partners. You might have stumbled upon a blue-chip partner if your casino software provider employs its own utility token, aka an officially accepted crypto permitting users and partners to close deals and contribute to the ecosystem.
Licenses and compliance with regulations
Possibly a no-brainer, the iGaming company that’s licensed and meets the requirements of the jurisdictions where you plan to expand your business may not have to be mentioned. However, here we remind you that these things should not be taken lightly, even if you haven’t considered how much your business may spread out.
Reputable companies offer software that is compliant with regulated jurisdictions; the more, the merrier. So, should you want to deal in Europe or America, make sure your partner has this figured out. They may even have strong connections within the territory that will help your networking-based efforts.
Golden geese prioritize following the rules and playing fairly, which is the shortcut to keeping a solid presence within the intended markets.
Prompt and helpful customer support
Suppose your business’s users rely on your customer support to engage in operations, and you need CS to use other companies’ services successfully. Why would you rank this element lower on your requirements list? Truth is, customer experience has taken center stage, with 8 in 10 customers placing it on par with the quality of services and products used.
Customer support is more critical in the iGaming industry than ever, given the fierce competition and the fight for player loyalty. A study by CS platform Zendesk shows that 42% of customers may as well end a collaboration with a company if this experience is poor, with 75% eager to keep the business going if they receive the help and involvement they look for.
Now, look for a partner who delivers support all around the clock, helping customers out in more ways, including FAQs, blogs, live chat, e-mail, calls, and social media CS, to name a few. If you came across a company offering plans for different customer support types, you could have identified a top-tier partner.
Choose wisely and unhurriedly.
Your partner can be either a client or a failure magnet. Picking the right iGaming and betting partner is a vital undertaking that will substantially impact your business’s success. Concentrating on these key factors and browsing through your options judiciously ensures you’re making a well-informed and unbiased choice that supports your goals and helps build a top-notch experience for your players, who may come back and contribute to constantly improving retention rates.
