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5 rules to starting an online casino or sportsbook (anywhere in the world)
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If you’re looking to invest in a business sector that can outrun large-scale economic downturns, including a global pandemic, then look no further than online gambling. It’s a shining example of resilience in the face of strife – and that’s because gambling will never go out of style. This thought has occurred to many entrepreneurs, attested by the seemingly endless stream of new online casinos and sportsbooks.
But the internet is a very big place and there’s plenty of room for new ventures of all sizes. Getting started is the hard part, but turnkey platform providers like WiseGaming step in to help you avoid common mistakes that can result in unfortunate cash burnout. Here are five rules to keep in mind:
- Don’t try to do everything. This might seem like backwards advice but launching an online gambling business involves several moving parts that can become quite burdensome for a startup. Choose a solid online gaming platform provider, such as WiseGaming [https://wisegaming.com], who do all the hard stuff for you. This will allow you the time to focus on an extended business strategy, market analysis, finincial projections, and marketing plans.
- Partner with the best providers. Players look for games they recognize as this assures them that your site is a safe option. Using an aggregator will guarantee you make an impactful first impression with the best game library and sports markets from day one. WiseGaming [https://wisegaming.com] offers sportsbook software with over 100 sports, and has also teamed up with world famous providers like Pragmatic Play, Evolution Gaming and Play’n GO, allowing you to onboard a winning selection of over 10,000 games without the stress of multiple contracts.
- Pick a memorable brand and leverage it. A weak marketing plan is often a huge stumbling block for many fledgling brands. In a crowded and competitive space, you need to stand out with copy and design that appeals to your target demographic. Whether that’s something traditional or novel, choose your lane and commit across all your branding material. Your iGaming platform must be white-lable enabled, so you can make a first impression that generates sign ups and conversions.
- Get your finances right. You need a considerable amount of capital to get started, but your financial obligations don’t end there. Annual income projections, break-even worksheets, projected cash flow statements, and balance sheets – there’s a lot to keep your eye on both before and after launch. Smart financial planning allows you to benchmark your progress to success, which is why offloading platform responsibilities to a reliable provider can be crucial in those early days.
- Choose your license carefully. The law comes down hard on casinos and sportsbooks recently, and while safer gambling is a great thing, it can also result in nasty fines. If you’re new to the scene, it’s probably a smart move to stay out of heavily regulated jurisdictions. It’s faster and easier to launch with an iGaming platform on a Curaçao license, where you’re subject to less scrutiny and have access to several, diverse markets. WiseGaming software is compliant with the majority of regulated jurisdictions, giving you the freedom to decide.
WiseGaming isn’t your only option when it comes to choosing an online gaming platform provider, but they come with an unparalleled understanding of today’s gaming market and a wealth of hands-on experience. Check them out here and decide for yourself.
Latest News
Emerging Startup Adventura Gaming to Launch New Casino Table Game, Penn & Teller Casino Monte
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Adventura Gaming, a new boutique gaming company pioneering branded casino games that blend world renowned celebrities and brands with cutting-edge gameplay, is launching its casino table game, Penn & Teller Casino Monte, on March 3 at Rio Hotel & Casino. Creating an innovative table game experience with the beloved and iconic Penn & Teller, the game is poised to attract valuable new audiences to casinos as the first celebrity branded casino table game of its kind.
“We couldn’t be more proud to officially announce Adventura Gaming to the industry with the launch of our Penn & Teller Casino Monte, a groundbreaking table game that merges entertainment, innovation and the magic of one of the world’s most iconic duos,” said David Anthony, president and cofounder at Adventura Gaming. “By combining engaging gameplay with a celebrity brand that resonates with audiences outside of slot machines, we’re creating a fresh and exciting experience for players while delivering added value to casino operators,” added Cinnamon Booth, Adventura Gaming’s executive vice president and cofounder.
“Casino Monte is a brand-new table game that’s fiendishly fun,” remarked Penn Jillette, one half of the storied Penn & Teller duo. “When Adventura introduced us to this new casino table game concept, it quickly became clear—not only could we learn it and play it, but it was genuinely fun. I thought if we can learn it, anyone can, and they’ll have a great time doing it.”
As soon as they saw its engaging mechanics, Adventura Gaming was immediately captivated by its potential, and moved decisively to license and refine the game. Anthony and Booth said they’ve “loved the idea of Penn & Teller going all the way back to their three-card game shenanigans in Run DMC’s Tricky music video. So of course, we knew right away they were the only ones we wanted to partner with.”
Drawing in an audience with internationally recognized celebrity magicians Penn & Teller, and its original patented gameplay, Penn & Teller Casino Monte allows players to place a bet on ‘Penn,’ ‘&’ or ‘Teller’ and the higher the card, the better the chances to win.
Latest News
Plaza Hotel & Casino hosting Nike Pickleball Camp, March 14-16
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Offering 13 rooftop pickleball courts, the most of any Las Vegas resort, the Plaza Hotel & Casino in downtown Las Vegas will host a three-day Nike Pickleball Camp led by nationally-ranked professional pickleball player Rick Witsken, Friday, March 14 through Sunday, March 16, from 1 to 4 p.m. each day.
Open to players 18 years or older and at any skill level (beginner, intermediate, or advanced), the weekend camp gives participants the option to attend one, two, or three days of pickleball lessons and play that are designed to address specific needs, increase knowledge of the game, and help improve play in a fun and friendly environment.
The Nike Pickleball Camp will be led by Rick Witsken, a top ranked senior pro and co-founder of the National Pickleball League (NPL). Previously world-ranked on the Association of Tennis Professionals (ATP) in both singles and doubles play and currently ranked #1 on the Association of Pickleball Players (APP) Senior Pro Men’s standings, Witsken has won more than 100 senior and open pro medals and has served as director of over 50 camps. He currently hosts the “RipSken Pickleball” podcast and posts instructional videos online via the Midwest Pickleball club. He also founded the first public scholastic middle school pickleball team at Zionsville Middle School in Whitestown, Indiana.
The first day of the camp will focus on short and soft game skills, like dinks and drops. The second day highlights aggressive game skills, including drives, serves, returns, speed ups. The final day will culminate with strategy and positioning lessons.
All camp participants will receive a Nike Pickleball Camp t-shirt and prizes with their registration. They must bring their own pickleball paddle, athletic shoes, and water bottle. Upon arrival, all participants are evaluated by camp staff so that their personal instructional needs can be addressed throughout the weekend. Participants are grouped by ability first then by age per the camp director’s discretion, and adjustments are made as needed during camp.
Compliance Updates
MGCB Issues Cease-and-Desist Order to BetNow
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The Michigan Gaming Control Board (MGCB) has issued a cease-and-desist order to BetNow.eu Sportsbook, Casino, and Racebook (BetNow), an offshore online casino operating illegally within the state. The site offers a range of casino games, including slots, poker, and live dealer options such as blackjack, roulette, and craps, as well as betting services for sports events and horse races.
“This unlicensed operator not only violates Michigan law, but also exposes consumers to significant risks. Our job is to protect Michigan residents by ensuring that all online gambling is conducted legally and responsibly,” MGCB Executive Director Henry Williams said.
BetNow offers numerous payment options for player deposits, including Visa, Mastercard, American Express, Zelle, Apple Pay, Google Pay, PayPal, Bitcoin, Ethereum, Litecoin, Tether, Bitcoin Cash, CashMG, and bank transfers. However, players must wager their entire initial deposit before becoming eligible to withdraw any winnings.
The MGCB’s investigation found that BetNow is in violation of several key state laws, including:
• Lawful Internet Gaming Act: Only licensed operators are permitted to offer internet gaming. Only Michigan-licensed casinos and federally authorized tribal casinos can apply for a gaming license under state law.
• Michigan Gaming Control and Revenue Act: Operating an unlicensed gambling business is a felony in Michigan, carrying penalties of up to 10 years in prison, a fine of up to $100,000, or both.
• Michigan Penal Code: Gambling, which involves payment based on the outcome of an uncertain event, is prohibited under state law. Accepting money with the understanding it will be paid based on a game of chance is illegal.
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