Chances are, you’ve dabbled in Bitcoin and the like, and since you understand the importance of staying ahead in the industry, the thought of diving into a related iGaming project has crossed your mind more than once in the past decade. The benefits of catering to crypto players are evident, and you or someone in your network has likely already made moves with crypto affiliates and payments. However, as we forge ahead, achieving sustainable success becomes increasingly challenging.
In this guide, we’ll navigate the essentials of launching or enhancing your crypto-focused iGaming venture, saving you time and effort along the way.
Before plunging into the abyss of crypto gambling, it’s wise to refresh your knowledge of the latest trends. Stay tuned to news updates, join LinkedIn groups, and brace yourself for a barrage of sales pitches that you’ll promptly unsubscribe from. Attend industry events; you’re at one now? Excellent. Attend twelve more, focusing on local crypto affiliate gatherings. Networking is crucial, and so is making meaningful connections instead of aimlessly wandering with another beer (which accounts for the other 50% of success).
Now when you’re amidst wild speculation and hopeful thinking, delve deep into studying your competition. Have you come up with a checklist for your dream casino? Have you thoroughly examined competing projects? What languages do they support? Which games dominate their lobbies? Who are their affiliates? Have you posed as a player to test their support? Have you followed their social media and newsletters? Have you engaged in idle conversations with founders at events? You should have.
Creativity is key to success, but adhering to market standards is essential for survival. Why did you choose to target crypto players? How do your competitors achieve similar goals? Following a role model might really help when making the first steps, and for the rest, you should have a clear plan.
As elsewhere, players who meet your high expectations are either already loyal to established brands or unaware of your unique perks. A crucial question in defining these perks is whom you intend to target and why. The more precise and well-grounded your answer, the less likely you are to lose your grip.
Crypto players, en masse, aren’t THAT different from the average player. They aren’t hackers (well, mostly), early adopters (the ship sailed ten years ago), or advocates of blockchain-based «provably fair» gaming. They might have tried out NFTs at some stage, but please don’t resurrect long-dead trends. That said, your players may appreciate Web3 for its seamless payments.
They’re typically younger (18-45 years old on average), mostly male (which is quickly changing), possess higher incomes, have a greater appetite for risk, and are tech-savvy, so don’t be naive in your marketing efforts. What they seek are:
Does this sound any different from what makes a great online casino? The key distinction lies in the emphasis on modern payment methods and speedy withdrawals. Nail these aspects, and you’re halfway to success. While the volatile nature of crypto rates may seem daunting, a good talk with your platform provider and implementing a robust crypto processing setup can mitigate common risks and bridge the gap with traditional fiat operations.
The other half depends on both you and your platform supplier. A seamless technological infrastructure and integration with top-tier third-party providers deliver visible benefits, attracting the most valuable players and fostering long-term loyalty.
Beyond the obvious matters, it’s crucial to establish your budget for marketing, affiliates, platform fees and other related costs. Understanding your economics is fundamental in defining your target audience and, ultimately, your growth strategy.
Seriously, are you going to serve the Narcos? Shady folks leaving no trace other than salary-size bets? Well, as per our experience, casino owners typically prioritize risk management, maintaining liquid assets, and, you know, sleeping well at night over memorizing legal advisory contacts.
That being said, your players are still subject to KYC, and the better you handle it, the less likely it is to deter your target audience. Compliance with regulations is crucial for the long-term success of your crypto casino, so consider hiring a compliance officer.
Ask out your network and your platform supplier, as the market offers numerous KYC solutions tailored to crypto casinos and their players. Keep in mind that regulatory paradigms are volatile and subject to sudden changes, so it’s wise to explore multiple solution providers and select a platform that facilitates swift transitions (like us!).
The market abounds with white label and turnkey solutions catering to every taste, budget, and purpose. However, selecting the ideal foundation for your crypto venture can be challenging. One’s primary concern, of course, is whether their preferred provider has genuine expertise in cryptos. Your partner should offer a wide array of dedicated payment solutions, provide access to the latest and most popular game titles, and assist you in navigating the unique challenges of your crypto setup. Inquire about a few of their clients, particularly those aligned with your vision. Speak to these operators and the affiliate network you’ve cultivated.
Don’t proceed with a platform provider until you’re fully satisfied with every aspect. There’s no rush! It’s your responsibility to address all concerns before signing any agreements. If you’re a small to medium-sized operator, large platforms may not be the best fit, as they tend to be slow to adapt and unresponsive to your needs. Minor issues for them could be your downfall.
At TrueLabel, we’ve been building crypto casinos since 2017, launching dozens of successful brands. What’s more, we’re a boutique firm. We’re always available to listen and offer assistance, whether it’s a hotfix or a piece of advice. We’re well-acquainted with common challenges, abreast of the latest compliance matters and tech trends, and yes, you can speak to our clients because our dedication precedes our reputation. We have our requirements for operators we serve, and we intend to engage in a lengthy conversation with you, so schedule our demo last and come prepared 🙂
Are you still eager to cater to crypto players? No doubt you should! Launching a crypto-focused project brings lots of exciting opportunities, and scaling a crypto casino operation is a fantastic idea. It’s all about dedication and persistence when building a landmark casino venture. In the realm of crypto, it also involves staying informed and securing the best available technology to support your endeavor.
After our first crypto operator introduced players, we’ve had countless valuable learning experiences amidst numerous mistakes that were worth a fortune. Now, our mission is to equip you with a tailored approach and cutting-edge technology.
Just share your vision for a dream crypto casino with us, and we’ll do everything in our power to bring it to life. Explore your options, engage with industry professionals, assess your capabilities, design a standout logo — and book our demo. Let’s make Bitcoin great again!
