Choosing a software provider for iGaming business

Do you have an iGaming business concept that you want to bring to reality but need to know how? The iGaming industry is one of the most lucrative business niches and has undergone significant growth in recent years. According to research, the global online gambling market’s value was more than $50 billion in 2019. Moreover, this market is expected to bloom at a compound annual growth rate of up to 11.5 percent from 2020 to 2027.

Therefore, these statistics show that you’re on to something with your iGaming business. However, the industry is highly competitive. Aside from the resources you need to kick-start your iGaming business, the most crucial determinant is choosing a professional software provider. When you see all foreign casinos here, they’re enough to convince you about the quality of service to put out there.

Why do you need the right software provider for your iGaming business?

The online gaming business/industry is highly competitive. Therefore, every iGaming business strives daily to provide top-notch services that will meet – and sometimes – exceed the ever-insatiable player expectations.

The iGaming market is dynamic, and having a reliable software provider in your corner is crucial. No sensible online gamer or casino operator can dispute the considerable role and importance of an iGaming software provider. Businesses will only thrive in this landscape with high-quality and functional software that ensures every gamer has a pleasurable experience.

In other words, a premium iGaming software provider offers rigid and highly secured business growth while boosting returns on investment(ROI). For instance, an iGaming software provider offers a secure payment system while providing gamers or users with top-of-the-range betting and gaming solutions. You will also have complete control over the entire setup and gaming process, beginning from the design until you reach the post-launch stage.

But how can you choose the best software provider for your iGaming business? It starts with considering several crucial factors. If you ignore these factors, it will be at the peril of your iGaming business.

Therefore, here are the factors to consider when choosing a software provider for your iGaming business:

Check licenses and credentials

While evaluating the list of iGaming software providers online or in your area, ensure you check out their work history, credentials or certifications, and licenses. You should only work with an experienced, tested-and-trusted iGaming software provider. You don’t want to work with a provider just starting out in this field.

Find out how long the iGaming software provider in your sights has been in business. The service provider must have a group or team of qualified experts or professionals that handle every aspect of iGaming service.

They must be mature enough to handle the challenges of providing iGaming software services and have an in-depth understanding of this industry, which you can leverage to take your iGaming business to the next level.

You should also ensure that the software provider is duly licensed to operate in your region or jurisdiction. In addition, their operations must comply with the regulatory requirements of online gambling authorities in your region.

Your mind will be at ease when you verify this, as you wouldn’t want to get involved with the law. You would also not want your iGaming business to suddenly go offline because your software provider operates illegally or not complying with the law

A detailed list of gaming providers and clients

You need an iGaming software provider with skin in the game, i.e., they must already be fully established online. Such providers will also have a pretty solid list of clientele seeking their services from time to time.

Respectable and reputable iGaming software providers usually work only with payment and high-level gaming service providers. They cover vast regions worldwide and can meet deadlines.

Therefore, get feedback from existing iGaming operators to check if their software solutions are top-notch and meet their expectations. Most clients with good experience with any particular iGaming software provider are willing to make recommendations.

Flexibility and speed

You should only work with a top-quality iGaming software provider that will future-proof your business. This will help your iGaming business grow in leaps and bounds, especially since the online gaming landscape is ever-dynamic and requirements change from time to time according to the market’s needs.

You should consider the iGaming software provider’s ability to integrate unique features speedily. Vital considerations include stability, flexibility, and scalability. The primary goal is to ensure this iGaming partnership lasts long, if not for life.

Switching from one platform to another because a particular iGaming software provider cannot adequately support your business’s growth can be highly disruptive and costly. In addition, you will lose profits in the long run; therefore, take your time to future-proof your iGaming business.

Optimization for mobile devices

Many players today prefer and enjoy having a pocket-gambling experience on their smartphones or tablets. Therefore, your software provider must be capable of providing mobile-friendly iGaming software.

If your iGaming platform is highly optimized for mobile devices, you will attract thousands of players worldwide.

Variety of betting and gaming solutions

When your iGaming platform is up and running, your software provider must be capable of providing or including a wide variety of games in it. World-class iGaming software providers offer cutting-edge gaming solutions and a wide array of betting solutions to meet market trends.

The service provider should be able to add top-quality games based primarily on your gamers’ interests. Furthermore, they must be able to implement comprehensive solutions such as skill games, live casinos, virtual reality casinos, etc., almost at a moment’s notice without interrupting users’ experience.

The iGaming solution should meet your customer’s expectations and ensure their user experience is 100 percent.

Third-party integration

There may come a time when your iGaming business requires third-party integrations. Your software provider must be capable of integrating secure and safe third-party payment gateways into your gaming platform.

Third-party integrations are often required for several purposes, such as issuing payouts, payment gateways for accepting deposits, etc.

Excellent customer support

Another crucial factor that many online gaming operators ignore to their business detriment is support services from the iGaming software provider. Poor customer service is a recipe for business disaster.

You need to work with a software provider with supporting services and tools that will boost your iGaming business. Find out if they have an integrated CRM system and whether or not they provide quality training.

The customer support must be round the clock, a must-have feature that every reliable iGaming software provider sells. Remember to ask for the availability of support for multiple languages and payment options.

Marketing support is also crucial and highly beneficial. This is important since you may need to start your iGaming business with promotional materials and a player bonus structure.

You should also look into other services such as:

• Data management
• Products report
• The gambling content your gamers are viewing per time
• Insights into how players use your iGaming platform
• The most preferred payment method
• The most preferred sports or games, etc.

This data is vital and incredibly useful, especially when considering the future development of your iGaming platform or site. Prompt response to customer queries is another vital feature you must ask about. Ensure your chosen iGaming service provider can provide this level of data, as this boosts brand loyalty while enhancing player lifetime value.

Anti-fraud and risk management system

Online gaming is not without its attendant risks. For example, players need to provide sensitive information such as personal and payment details. Unfortunately, these crucial details are usually prone to security attacks. Moreover, cheaters and fraudsters are lurking almost at every corner of the industry.

That is why it is crucial to get an iGaming software provider who cares about their customers. They will help protect your iGaming business from fraudulent activities that take place online.

Ensure the iGaming software provider offers a cutting-edge machine language and AI-powered risk management system. This system instantly detects and prevents all unusual activities almost at the drop of a hat.

Hassle-free payment options

Betting or playing for real money keeps trending every day, and the need for hassle-free payment options has become highly crucial. This is a critical factor you must consider while developing your iGaming business.

Therefore, ensure the iGaming software provider offers a full suite of the best and most efficient transaction options. In addition, having multiple payment options on your iGaming platform allows players to choose their preferred or favorite payment option in line with their jurisdictions.

Ready-to-implement and easy software integrations, as provided by your iGaming software provider, should support multiple payment or transaction options such as e-wallets, debit/credit cards, and bank transfers.

Your software provider should also be able to integrate blockchain technology as the craze for cryptocurrency is on the rise. Since many industries believe cryptocurrency is the future of money, players are looking in that direction.

Moreover, transactions over blockchain technology are anonymous, and many players prefer this anonymity. Therefore, ensure your iGaming software provider has the necessary tools or features that make it easy to integrate cryptocurrency payment options.

Innovative features

A crucial part of any business strategy involves standing out from other iGaming operators. Therefore, you need a software provider that can develop several innovative features that add immense value to your players on your platform.

Therefore, determine if your chosen software provider has an excellent record of creating innovative and unique gaming features.

The iGaming industry keeps growing rapidly with no sign of stopping anytime soon. This is the right time to jump on the wagon and take your share of the multi-billion-dollar iGaming industry. However, when you work with the right iGaming software provider, you will get it right. Hopefully, the factors highlighted above should point you in the right direction.