Britons are an entrepreneurial crowd and especially in and around Shoreditch, starting a tech company is high up on the list of many. There is a reason the East London Tech City or, as some call it, Silicon Roundabout is situated right around the corner.
Now, when most people think about tech companies, they think about the likes of Facebook, Twitter or TikTok. But in the UK, there is one industry that is both extremely popular among the population and start-up founders. We’re talking about online casinos.
CASINO GAMES, PAYMENTS, AND CUSTOMER SUPPORT
Great Britain is the largest fully regulated market for online casinos, so it comes at no surprise that several new casinos launch each month. With possible high returns for founders, it naturally becomes a popular product to launch despite its complexity.
From the outside, online casinos look nothing more than a website with a few games. However, there needs to be a sophisticated engine in place to power a modern & reliable site. A wealth of games, processing payments for both deposits and withdrawals, providing customer support to players, running promotions and giving out bonuses, and last but not least, ensuring total security of your customers’ data. There are many variables founders need to be aware of to run a successful gambling website.
WHITE LABEL SOLUTIONS TO THE RESCUE
Unless you have a few million in the bank, building an online casino from scratch is a near impossibility. The cost for developers, product managers, and customer support agents, not to forget the licensing fees for casino games, all while trying to acquire new players in one of the most competitive markets worldwide, would quickly put an end to your cash flow. Lucky when there is a way around it.
White label solutions are fully-operational online casinos that business founders can license from companies such as SkillOnNet. Once set-up, you have immediate access to thousands of games, can process payments through various providers, and even have a dedicated customer support team in place. What’s best; you don’t even need to worry about the UK gambling license any longer as this one is included as well.
A white label casino is basically an unbranded luxury car that you can brand your very own way. Colours, logo, structure – you can give the online casino your preferred look without having to modify its engine.
GAMBLING REGULATIONS IN GREAT BRITAIN
White label solutions take a lot of work off your hands, but that doesn’t mean that you can lean back and count your earnings. As previously mentioned, the UK is the largest regulated market when it comes to online gambling. At the same time, it is the most enforced market when it comes to regulations, too.
The Gambling Commission, the UK’s regulatory body for all things gambling, made it its top priority to protect problem gamblers and those that show early signs. As a result, it regularly releases new regulations from identity checks to credit card ban. Online Casinos are required to actively follow the guidelines not to risk the loss of their license and multi-million-pound fines. For that reason, many gambling operators have withdrawn their products from the UK in recent months since employing staff to enforce the law did not make economic sense.
Starting an online casino can be fun and rewarding, and, if you choose to work with a white label solution, it doesn’t even have to be that complex. However, it’s important to keep in mind that protecting vulnerable players can be an expensive undertaking and, if not done right, quickly leads to hefty fines that might put the start-up founders out of business immediately.