Episode Transcript
[00:00:00] Speaker A: Hello, everyone, this is Max. And as promised, we're trying to create one video every week, even though we have to travel. And now we are traveling. But I was thinking. Okay, let me answer you the question that I hear from my clients very often, because, like, every time we have a call, they're like, asking me a question. Listen, Max, how can I distinguish my online casino? Because there are so many casinos on the market, and everyone claims to be the best, everyone claims to be the one, right? And how can we be different? Because it looks like it's the game everyone is playing. And, you know, there is no value proposition and real differentiator that would differentiate us from all other businesses.
[00:00:55] Speaker A: The first thing is that you have to understand is that, you know what online casino consists of. And online casino consists of, well, different games. There are slots, there are virtual sports games, and like table games, like poker games in baccarat and blackjack and roulette and others, right?
So when player comes to your online casino or any online casino, what they expect to receive? What is the real value that they will get from that online casino? Well, it depends on who your client is. So some people come from entertainment reasons. They want to be entertained. They want to have, you know, that great experience.
Another person is looking well for luck, and they want to challenge the luck today.
And, well, so different people, different reasons why they come to visit the business, right?
So there are multiple things to look onto this. And if you want to really kind of innovate and be different, then you have to look at the system as well. Because there are people that I'm working with that for now today. They develop, for example, the Metaverse Casino.
So it's either they have some games developed or in the process of development, or they develop the Metaverse as a medium where people will come and then other businesses will offer games, like, for example, blackjack. So virtually you will just put, you know, your glasses on, and virtually you will be in online casino with this value proposition where it's a completely different medium, completely different experience, right? So this kind of model, this kind of differentiation, and, you know, quantum leap requires tons of investments. So we speak tens of millions. We speak about regulatory complications. So you still need a license, you need certification. So you're not looking to make money, you know, within the next couple of years, minimum.
And if you know what you are doing and if you are lucky enough and if the market is there, then, you know, within four, five, six, seven years, you may develop something people need, because this business is more complicated and you need Licenses, certifications. And this thing is a very expensive.
And it takes a lot of time to build something like that. Right. And receive the license itself. You know, you may wait for one year, you have to choose the jurisdiction and other things.
So you may choose to build something else like blockchain based.
That's the thing, number two. So a lot of my clients, they build something like blockchain based because they believe that transparency is really important in the business. And when people play, they want to make sure that, you know, some of them, like the casino will be really transparent. Is it successful or it's not? I don't know. Market has to say. So I do not know what this business that.
Well, I don't actually gamble. I don't play any online casino games. So probably there are players who truly believe that this is the biggest differentiator and this is why they want to play online casinos. Right?
So there are things like that. There is a crypto casino like for example stake.com or any other casinos that do not offer any fiat as the main payment method.
And this is also very unique and this is great for players and for the businesses, for both because it takes away a lot of pain related to banking transactions and car transactions overall, where you know, it's very difficult to make ones and also it's very difficult to withdraw money. Now let's look into, you know, the. How is it possible to differentiate yourself by providing games? So if you decide to provide games, you have to understand that one online casino consists of of hundreds of games from multiple software providers. So there are multiple teams of software developers like for example Pragmatic or netint or for example Evolution when we speak about live casino that create that content and then you as an online operator you rent that content and offer to your customers, right? So if you decide to build games, you have to make sure that you build tens of games, hundreds of games so other operators can get, you know, your game. Connect to your online casino or where you may want to develop something exclusive. And you want to create your own online casino, which is probably smart in the beginning, but in the end you will want to scale anyway. So you'll look for ways to maximize your profits and maximize your gains. And well, chances are that you will end up distributing your software to other online casinos just like everyone else, because cash flow is the king and you will need money to sustain your software development team. This is not cheap. I don't know the numbers, but looks like this is the way to go.
Now when I'm speaking about Online casinos and how you can be different. It is very simple because there are multiple ways how you can get and attract your clients.
And real differentiator is how you treat your clients.
So imagine like your only goal is to make a client to register and to make a client to make the first deposit as a business owner. So this is what you really have to take care of. Now as this industry grows, there are multiple ways how to do that. You can do that with the help of SEO marketing, PPC strategies, you can do that that with affiliates, you can do that through agents, influencers. So there are multiple ways how you can attract your clients. And for every of these ways, you pay some price.
So if that's the PPC campaigns that you're about to run, then you have to ask yourself a question, okay, what offer will my clients really appreciate that will be interesting or really cool and provide tons of value to my clients here on this market today?
So if you are everyone else, you will be offering something everyone offers. But if you think a little bit about the market where you are and you really know your market, then you will try different options, how you drive your traffic. And you can offer multiple things, you can offer things that are really interesting. So for example, like BET UK this year, so they created and unique offer when you could bet 16, excuse me, 19 and get 69 right, instead of offering 24, 60 like everyone else. And 1969 was the year when England won the FIFA Cup. So it was really interesting. This is something that triggered that, you know, mechanism to go and try that because people love the way that they approach this thing like the 1969 and everyone knew what's going on, what is it about?
So this offer was unique enough, was interesting enough.
[00:08:23] Speaker A: To drive that interest and drive that traffic and make people register.
And this can be according to the entire online casino, according to separate games that you are about to market to your clients to make them to register. Because registration by the end of the day is the most important thing. So you make them register, you make them dependent deposit and then you keep them. And that's how you grow your business. So now when you decide to rely on affiliates, you don't even have to ask yourself this question. Because affiliates are the guys in the trenches. They are someone who are doing the hard work, they are risking with their own money to drive traffic so that traffic converts.
And the key here is user experience. So you have to make sure that your online casino and the site loads fast, that the entire customer journey is smooth and there is nothing you know, between the moment when the person decides to click on the ad and up till the point where the person like, you know, gets his credit card or pays with crypto, if there is anything in between.
So the really big thing in a note, in a trick or a cheat, or that I want to share with you is really think about the partners that you work with. So this is one of the reasons why I do not recommend white label. Why I think that this is, well, it will bring no good to any new business because this entire customer journey is not flexible. You cannot change things, you just use things and you have to, well, rely and believe that things are well versed in and will configure for your clients, which is not usually the case. So you want to optimize this entire customer journey and you want to make sure that you get it optimized through the time.
Now, with this being said, what is really the differentiator? So if you have clients going in through ppc, SEO, you have affiliates that, that bring clients in and they test different offers with their own money. So what is the key? The key is to make your client to recognize your brand, to make your client to go and deposit the second time, the third time, so that client stays with you for longer and comes back in half a year and bets with you and plays with you and is happy with your online casino.
So let me give you an example. So here I am working on a content and I'm registering in multiple casinos. So one of them is Steak, another one is Rubit, another one is something else. And here is this casino and it's very easy to register, it's really easy to deposit money through Binance Pay or whatever.
And then, you know, I had to play just to trigger some marketing events.
And then I'm trying to withdraw. So when I am withdrawing money, I have this issue that I cannot withdraw the money because they do not offer Binance pay as a withdrawal mechanism. And you have to choose something else. But to choose something else, you have to first pause it using that same payment method. So immediately it triggers like emotion that is anything but good.
So will I ever get back to this casino knowing that all they do is that they bring customers in and they do not offer any payment methods that would be optimized for my needs in this country. And they, you know, they make really difficult to withdraw money from that casino? Of course not.
So payments is the second thing. You have to make sure that your clients can pay in your online casino in their country using methods that they enjoy the most it means if your clients are in Europe or in the United States, allow them to pay with credit cards. Because this one works with crypto. Do not push like cash on demand. If your clients are in the yarn and at hand, then cash on demand is something, something that works there. So people are, you know, really good, used to work with this payment method. So this will convert well.
And if it's working well for you now, you have to think about the mechanism to withdraw the money in an easy way. So all people that play with you, most of them will lose, of course, they will exchange money for experience, but some of them will win. So how do you allow your people to withdraw your money immediately, now, today, not by saying that you have to deposit something else using some other mechanisms and then play maybe five years later, you will withdraw now, now and today.
So that's also very important question. And most of the players, they really want you to pay. And they test your casinos, okay, let's bring in 50 bucks. Let's test how these guys withdrew money, how these guys like pay for the bills, right?
And if they don't, they don't. So I'm not going to get back to this casino ever again because I had this bad experience. They lost me as a client. And I will not recommend this casino to anyone else.
So what is important as well? So when I was waiting for this withdrawal, customer support is huge. So you have to understand that customer support as basically something that.
[00:13:59] Speaker A: Makes your either makes your casino or breaks your casino. So when people have questions, they have questions you have to answer right now. And since this is a volume business, so you generate your revenue by generating multiple of volumes revenue, hundreds of players and thousands of players playing in your casino at the same time, you want to respond to your clients as soon as possible. So in this case here, I had to wait for response for 20 minutes and more, which is not great. And since my question was related to withdrawing, they were not interested to serve me. So I had to wait for 10 hours basically to get some sort of a reply, which is also not good. So what is a hint with payment providers? What is the achieve focus on one or two countries do this thing really well with few countries, don't do like everyone else who are trying to do everything in all countries. Because if you focus on several countries, then you will be able to pick payment system providers that work in these countries and you will really tune your casino to the point where every person that joins your casino through ppc, SEO affiliates or any other means, they will Enjoy the experience from moment when they click the ad and up until the moment will withdraw money and speak to your customer support.
When we speak about the customer support though, so you have two ways. You can either rent customer support and you can pay for the service.
So this is basically the third party service that some companies provide. Or you can put your own employees will reply to your players and usually when you're in growing mode, the second is better because you can control the costs. It doesn't cost you as much as like 1 bucks to send a reply to any of your clients.
You just pay the salaries. There are like fixed salary, that's all you do.
And also the speed and the quality. You can control all of that. And you don't have to rely on someone's will or someone's like behavior and good practices to reply to your clients. Because you risk with your clients, risk with your money. You paid your money to gain these clients and now if not do a good job on the back end to serve these clients. These clients will never get back and you make the most of your money on the second deposit, third deposit. And this is also the way how you just increase your chances for this player to come to your casino two months, three months, five months later and you know, become your loyal client. My loyal customer.
So that's it for today. If you are interested about the platforms that there are on the market and you're looking for the platforms, then I will leave a link below.
Same with the software providers. So I will leave multiple links below. You can download all the files, everything that you need to start your online casino business. I will also leave a white paper five steps to start your online casino. Click the link below and download it. It's absolutely free guys. What we do, we do the licensing and if you are starting your business, you will need international license or the local license. So if you are looking for more information, really need help, then click the link below. There is a contact. Someone from my team will get back to you as soon as possible to check if you qualify for the license as a first step before you even push and spend your money on any on other things and means to start your business. Good, I hope to see you soon. This was max. Thanks for your time and enjoy your day. Goodbye.
[00:17:50] Speaker B: I love you, I love you, I love you, I love you, I love you like la la la la la la la la la I love you like la la la la la la la la I love you, I love you, I love you like la la la la la la la, la la.
