A guide to choosing your iGaming platform provider
January 19, 2023
The iGaming industry is an exciting place with an impressive market share of $79.8 billion, as reported by IMARC. It’s a lucrative business providing great opportunities for growth. Nevertheless, it requires great effort in terms of operations, product development, and marketing. A stable and scalable platform is the key factor if you want to be successful in such a market. So, what should you consider before starting your iGaming business?
Starting with the basics, choosing a platform provider is where you want to start. With so many providers available, deciding which one is the right one for you might become overwhelming. Here are 5 simple steps on how to choose an iGaming platform provider.
1. Prepare your business strategy
The first step you should take towards a successful online gaming business is preparing a thorough business plan. By doing that you can define who you’re competing against and how you’re going to be better than them. The iGaming market is highly competitive and if you don’t play your cards right (pun intended), you might end up being overshadowed by everyone else out there. Gathering information about consumers, competitors, providers, suppliers, and distributors is of great importance. They all play a crucial role when building a business.
2. Research your chosen iGaming provider
Securing a partnership with a trustworthy and licensed provider is your way into the market. After all, you could consider your platform to be your business card. Make sure your software provider addresses all of your business needs, as well as your consumers’ pain points. Having a stable and customizable software will lead to an impeccable user experience. Looking to start soon? Don’t be a stranger, let’s talk!
3. Ask yourself the important questions
You may already have a provider in mind but you should always consider:
- Do they have all the valid licenses for your region of operation?
- Do they offer a wide variety of betting verticals?
- Do they have established connections with other reputable suppliers and distributors?
- Can they keep up with your future growth?
A good approach could be to reach out to their current clients and get your answers straight from the horse’s mouth. Or go to the provider – information of this kind should be transparent and easy to find on their websites.
4. Can you rely on them in times of need?
Getting a platform up and running is one thing. Managing it, however, may prove to be a heavier load than expected. Knowing that, it’s good to pick a provider that has accessible tools to help you take care of your platform. Risk management, licensing assistance, data management, and support agents could be some points to address.
5. Think long term
You should opt for a future-proof provider that can offer competitiveness and scalability. Your needs as a business, as well as the industry requirements, change as you grow. So, your provider must be able to keep up with you. An experienced partner that can speedily overcome any unforeseen obstacles, can help you move in the right direction.
Your iGaming software platform is the most valuable asset of your business. Doing proper research is a rule to live by if you want to flourish in the industry. Don’t forget to ask yourself whether a provider can acknowledge your needs and turn them into a profitable reality.
UltraPlay is a multi-awarded betting provider, founded in 2010, offering a turn-key iGaming platform to online operators worldwide. The company focuses on sports and eSports betting, live betting, white-label, online casino, and blockchain technology.
Assembled by a team of iGaming professionals with vast experience in betting product development, operations, eSports, and marketing, UltraPlay is a trusted partner for delivering superior sports betting software and odds products to its customers.
Learn more about the company here: www.ultraplay.co
PR SpecialisteSports, Guide, iGaming