One of the best ways to make a profitable business more profitable than it already is… is to infuse multiple aspects of profitability into it. The casino business which is considered highly profitable can be made more profitable by adding an online dimension. Building an online casino should be an intense and cost sensitive affair. To avoid unwanted expenses in developing an online casino, white label casinos can be used. Let us look at the entities involved Viz. Casinos, online casinos, and white label casinos.
Casinos – The Odds are that you would win in this Business
The concept of winning a lot of money by investing a relatively smaller amount has been a thing of fascination ever since the concept of money and the understanding of desire existed. Casinos are grand manifestations of this element of fascination. The ‘grandeur’ is evident in the astounding numbers that show the sheer magnitude of the market.
The global revenue of the casinos stands at a staggering $120,380, with the United States alone contributing to about 50% of that number. Unexpectedly, in an aspect where Las Vegas is expected to lead, Macau occupies the number one spot when segmented by regions, and it contributes to about 40% of the total revenues.
While the idea of casinos sounds interesting and exciting, the biggest deterrent when it comes to participation is that the user needs to be physically present in the casino.
The above statement could have been held true in its fullest sense until 1994, when the concept of online gambling was introduced. Online casinos give the experience of a real casino in terms of winnings and games, and also provide the convenience of playing from homes, and even on the move using mobile devices.
This feature helped the concept of casinos break geographic borders and reach even the remotest of places. In countries where there are no legal restrictions to online gambling like Canada and the Caribbean, online casinos have helped in expanding the prospect of revenue generation.
Globally, the online gambling market is expected to be about 6 billion short of a hundred in 2024 with a CAGR of around 10.9%. These big numbers would entice any business person to explore if not invest in online casinos.
However, creating an online casino with all the features, the technology and the support for security and transparency could be a hassle. Given the similarities in the way casinos function, a plug-and-play solution could be a viable answer to the challenge.
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