How do casino owners benefit from creating multiple casinos? - page 7.

Die_empty

hero member

Activity: 686

Merit: 987

Give all before death

Quote from: Finestream on December 21, 2023, 09:37:09 PM

I have noticed that there are multiple casinos in the crypto space owned by the same person or company. I am curious about the reasons behind creating additional casinos when there is already a running and profitable one.

How does this practice contribute to their business? It seems illogical as it might increase operating expenses without an obvious benefit.

Gamblers, any thoughts on this?

If they were not making profits they wouldn't have continued opening more and financing them. Having more than one casino will increase their customer base. It is like having different shops in an area, there are chances that you will have more customers than a business that has just one.

I think another reason might be for security reasons. Regulators might sanction one of the casinos and the company might benefit from operating the other one.

Different casinos could also target different gambling markets. This will make them successfully diversify their service thereby attracting different kinds of gamblers. It could also help these firms to penetrate different countries. Some games may be banned or restricted in some countries. Having more than one casino will help these firms to have access to different nations.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

If they are really monopolizing the market, I think segmenting it with another one would be ideal so that there would be "Choices" for consumers. Maybe different people or locations would attract more with that different branding instead of the already successful already.

It could be about diversification as well. If one fails, there would be the other one to save the other business or something. I think for the economy, it's helpful because it provides jobs, etc.

I hope this doesn't happen but manipulation of the promos or something. Make the market or something.

fruktik

hero member

Activity: 1176

Merit: 578

Quote from: uneng on December 21, 2023, 09:48:03 PM

After thinking a while, I concluded it might be due to the attempt from businessmen to achieve a kind of monopoly inside the niche where they operate. For an example: if I have something against casino A, I'm going to play at casino B, and vice-versa. However, I don't know both casinos are owned by the same individual or group, so they are profiting from me, in every cases.

Most likely, it is precisely to create a monopoly. Other players are being pushed out of this direction. A completely logical and “correct” step. Other entrepreneurs will no longer have the desire to get into this niche, since the competition is simply enormous. Nothing new in principle, but this strategy, as we see, is bearing fruit. If I ever start doing business, I will use this method. ))

So what? You always need to learn from those who have already walked this path, and this is much better than reading books. Here everything happens in practice. We monitor everything in real time.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

The reason they create other casinos is to make even bigger profits. It's natural for the owner or company to do that because they want to make a profit. If one casino can be successful and provide huge profits, there will be a desire to create another casino.

That will make the company bigger because they can create other sources of income that provide more profits. They must have calculated everything before deciding to build another casino. Moreover, some gambling business owners are people who already have more experience. They can determine what steps they need to take to generate even greater profits.

So getting a profit is a factor they want to get. The bigger the casino they have, the more profits they will get.

Text

hero member

Activity: 2464

Merit: 594

Quote from: Finestream on December 21, 2023, 09:37:09 PM

-snip
Gamblers, any thoughts on this?

I think it's part of the strategy to attract a broader range of players with different preferences and reach a larger customer base. Like one may focus on high rollers with exclusive games and VIP perks while another targets casual players with quick, mobile-friendly games. Another reason is owners might use different casinos as testing rounds for new technologies, innovations, or marketing strategies, experimentation to help them identify what works best and implement successful practices across the entire business.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Quote from: Finestream on December 21, 2023, 09:37:09 PM

I have noticed that there are multiple casinos in the crypto space owned by the same person or company. I am curious about the reasons behind creating additional casinos when there is already a running and profitable one.

How does this practice contribute to their business? It seems illogical as it might increase operating expenses without an obvious benefit.

Gamblers, any thoughts on this?

This is the same as asking shop owners who already have one shop and are already profitable but open another place, and of course, there is a reason behind it all because there are still many customers they can reach by having more shops and even though everything is the same, there are of course different things that they will offer so that they reach new users who were not reached in the first store.
Casino owners understand that the more casinos are opened, the greater the opportunity to get lots of customers, and besides that, they will provide different things from one casino to another, and just as we want income from several different sources, casino owners can also think like that.

EluguHcman

sr. member

Activity: 546

Merit: 265

If you find someone or a company with more than a casino platform, then it simply means that the entity is on an investment diversifications of the same sector (casino).
This is just as the Bitcoin investors diversifying their Bitcoins incomes on different portfolios of long-term Investment and the short-term trading which is usually a wise choice.
And it is usually a drastic measure to taking advantages to contains and yields about incomes at any cost of chances.

The casinos are on emergence with the Bitcoin crytop here in the platform because the Bitcoin offers alternative source where a gambler can fund its gambling wallets budgets through its coins on the casino using Bitcoin or AltCoins. On this note, such casino Is otherwise identified as crytop casino and the system could offer speculations on both the casino and bitcoins.
I should believe the casinos are tax payers to Bitcoin for roaming and being advertised on it site and platform.

Mr. Magkaisa

sr. member

Activity: 952

Merit: 303

Quote from: Finestream on December 21, 2023, 09:37:09 PM

I have noticed that there are multiple casinos in the crypto space owned by the same person or company. I am curious about the reasons behind creating additional casinos when there is already a running and profitable one.

How does this practice contribute to their business? It seems illogical as it might increase operating expenses without an obvious benefit.

Gamblers, any thoughts on this?

- Because gamblers don't have the same preferences. And if that's what a business owner does in gambling here in the crypto space, it's probably normal for them because they're businessmen. Even in our eyes, this is not good.

We also don't know what's going on in their minds as to why they do that; maybe they think that other gamblers can choose something else to play with just in case they get bored with one of their casino platforms.

Hirose UK

hero member

Activity: 1302

Merit: 503

Leading Crypto Sports Betting & Casino Platform

The casino owner is businessman and the habit of businessman is to develop the business he has built in order to achieve greater achievements.
Like private companies out there there are many owners who own more companies and of course everything goes well and this is very good effort because when one company experiences problem then there are others who can help solve it.
For example, you are the owner of casino A and after it has developed, you build another casino B. Well, one of the goals besides profit is that when casino A experiences problems or experiences losses, you can use the profits from casino B to solve them.
That way, the casino owner will not feel too much difficulty and pressure in every problem that occurs, but still both must and will run well, no one prioritizes one but also both.

If we only talk about profits, we all know that casinos that are successful in developing will definitely have big profits, especially if they have more than one casino, so you can imagine how much profit you will get.
But it not easy because it requires bigger budget and more smart and trusted people in managing each casino you own.

SeriouslyGiveaway

full member

Activity: 504

Merit: 144

From what I understand, there are several reasons for creating additional casinos when there's already a profitable one in operation:

Firstly: it helps diversify their business. This reduces risk as they aren't overly dependent on a specific income source.

Secondly: there might be specialization or targeting of different market goals. One casino could focus on a specific style or player demographic, while another targets a broader audience.

Thirdly: creating more casinos can be a strategy to compete with others in the industry and attract new players.

Fourthly: companies may want to experiment with new ideas or technologies in a new casino before implementing them in their existing one.

Lastly: each new casino is seen as an opportunity to reach and advertise to a new player base.

In summary, the creation of additional casinos serves to diversify business, focus on different market segments, compete effectively, experiment with innovations, and tap into new player demographics.

terciduk123

sr. member

Activity: 1176

Merit: 252

Business strategy can sometimes seem weird, but it turns out to be good. Casino owners make a few casinos the goal of increasing their business, having a lot of casinos will indeed increase the operating costs, but it can also increase revenue, because usually every casino created has its respective uniqueness. And have their respective fans also to minimize the risks when the casino is in trouble or undergoing bankruptcy, then when the one is bankrupted there is still the other, but if you only have one casino when it's bankrupting then it is done.

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

Laws are different from one country to another but there could be tax benefits in creating various companies rather than stick to a single one while it is growing bigger and bigger.

There's also a benefit from having different companies in terms of safety. If there's a single company and that company is entangled in a legal battle, all the business is affected. But if you have many companies, one company's problem doesn't affect the whole business.

Also it is a strategy to create competition in the market and to provide consumers with many options but the reality is that you own them all. That's a wise business approach.

Then there's also the fact that the taste of gamblers are different. So it might work to try offer them all kinds of casinos to capture the entire market if possible.

FinePoine0

full member

Activity: 476

Merit: 141

Different people take different steps to profit from gambling platforms. Using two casinos at the same time is really risky (similar to having two drivers of a car and turning the steering wheel at the same time) gambling platforms are just that. They are driven by greed and take various steps in the language of more benefits, but if they can't turn it on, it's better. Casinos provide a place for different gamblers to play.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Well, maybe for us who are outside the world of business and its cheats and tricks, don't understand the reason why they have to create multiple platforms to compete among themselves, but as I've been observing recently it's not an exclusivity of casinos. For my surprise, I discovered the top 2 driving schools on the city where I live are owned by the same person. It really doesn't make sense, since they are competing for the same customers, right?

After thinking a while, I concluded it might be due to the attempt from businessmen to achieve a kind of monopoly inside the niche where they operate. For an example: if I have something against casino A, I'm going to play at casino B, and vice-versa. However, I don't know both casinos are owned by the same individual or group, so they are profiting from me, in every cases.

Telecommunication companies also adopted the same concept in my country some time ago. You want to avoid one company because their services are precarious, but the other one owned by the same person, so you don't have where to run to...

Finestream

hero member

Activity: 3052

Merit: 606

I have noticed that there are multiple casinos in the crypto space owned by the same person or company. I am curious about the reasons behind creating additional casinos when there is already a running and profitable one.

How does this practice contribute to their business? It seems illogical as it might increase operating expenses without an obvious benefit.

Gamblers, any thoughts on this?

Topic: How do casino owners benefit from creating multiple casinos? - page 7. (Read 719 times)