Why do new online casinos struggle? | Bitcointalksearch.org

Helena Yu

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Quote from: jrrsparkles on April 08, 2023, 01:21:15 PM

Ending signature campaign doesn't mean they are struggling to allocate budget for their advertisement, it has other reasons too like some gambling sites run campaign for years so they thought okay its enough and we can spend that money on other platforms apart from bitcointalk while talking about new the results aren't that effective as they expected so looking alternative way of advertising.

But I think it doesn't wrong, if they have a lot money and their casino become bigger, they should don't have any problem to run a long term signature campaign in this forum. Take a look with a reputable casino which still run with and without signature campaign, the casino without signature campaign mostly dead, turn become scam or many gamblers tend to choose other casino.

Not many casino without a signature campaign can survive in this forum.

Nrcewker

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Quote from: lienfaye on April 08, 2023, 09:11:31 PM

Casino is a business, and like any other business, before you build it you must have plan and of course budget to promote your casino. Marketing is very important to attract new customers. If the casino is pretty new and just starting, it's hard to gain the trust of the gamblers especially there are many established and trusted casinos that are already existing for years.

I will say funds play here the important role. If you don’t have enough bankroll, then soon you will be struggling in the race. I know many casinos at first doesn’t have enough funds to start a running and successful casino. What they can do is just raise funding from big people. Pitch your casino idea among big investors and raise investments from them. Make some unique pitches so that you get the funding, and use those to operate the casino. I am emphasising more on funding because, through funds you can do marketing and marketing plays the important role to make any site hero or zero. As many sites don’t have enough funds for marketing, for that reason they suffer.

lienfaye

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Casino is a business, and like any other business, before you build it you must have plan and of course budget to promote your casino. Marketing is very important to attract new customers. If the casino is pretty new and just starting, it's hard to gain the trust of the gamblers especially there are many established and trusted casinos that are already existing for years.

If they want their casino to be notice and get the attention of the gamblers, there should be something unique in their casino that they can't see to other platforms. Moreover they need to conduct a promotions and advertisements because it can help to spread awareness about their platform. It's expensive but that's part of the path that they need to take in order to gain the trust of the gamblers to play on their site.

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Quote from: QueenVera on April 08, 2023, 05:37:45 PM

One reason why a casino fails especially the new ones is the fact that they want to compare their one step to that of another casinos one thousand steps. This simply means that new casinos should learn how to stay in their pace and take things very easy upon themselves and not try to do everything at once.
Marketing is very important for a casino to be know and to gain customers so I believe that for any casino coming into the industry, should have a budget and allocation for marketing if they truly want to be known and seen in the industry.

What you have just said is not too far from the truth. New casinos always wants to compete with already existing casinos that have stand the test of time. Old casinos that have gone through the hurdles of gambling world and still stand strong delivering their services perfectly are the possible opposition to the new casinos hence their aggressive act to put them off the scene which I think would not be possible for them because the new casino would have strong force to contend with to survive and stand the test of time.

What I can tell the new casinos is just to take time in growing step by step as it is normally said that " Rome was not built in just a day" they will have to build their products and sell out their catching point before they could be able to survive the best from the bigger casino whom are their perssived opposition.

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Quote from: QueenVera on April 08, 2023, 05:37:45 PM

One reason why a casino fails especially the new ones is the fact that they want to compare their one step to that of another casinos one thousand steps. This simply means that new casinos should learn how to stay in their pace and take things very easy upon themselves and not try to do everything at once.
Marketing is very important for a casino to be know and to gain customers so I believe that for any casino coming into the industry, should have a budget and allocation for marketing if they truly want to be known and seen in the industry.

Also, most of the new casinos that appear in this industry do not think carefully about the flow of their plans. Because sometimes what other casinos do is laziness.

The other casinos are also just copying the strategy of other casinos that have been here for a long time. So I agree with what you said, in fact, they lack experience in strategy and community building here in the cryptoi space. So in the end, their business does not last long here in crypto gambling as well.

QueenVera

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One reason why a casino fails especially the new ones is the fact that they want to compare their one step to that of another casinos one thousand steps. This simply means that new casinos should learn how to stay in their pace and take things very easy upon themselves and not try to do everything at once.
Marketing is very important for a casino to be know and to gain customers so I believe that for any casino coming into the industry, should have a budget and allocation for marketing if they truly want to be known and seen in the industry.

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Quote from: Dunamisx on April 08, 2023, 09:41:43 AM

Any casino that has the operators behind it not being experienced enough in gambling will suffer alot in terms of cost of operations and maintenance because they don't have an idea of how it had been used to be, all you will see is that they are spending much but seing less, before a casino can come into full operation, they needed to carry out sone pre-operational check and research on that particular field, gambling casino is not what anyone can wake up and decided to run, else he has failed already right before starting.

The operating expenses can be interpreted as maintenance expenses and if it is obvious that they need a study before launching a casino, but I think that every casino owner or person who wants to get into this business should do an investigation and a simulation to see how it is and how all this works, so you will know what package you are getting into and if you are able to bear it and how you can deal with it and also, most importantly, if you have the Monetary strength to do it, because otherwise it is preferable that you think about another business.

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Quote from: Crypt0Gore on April 05, 2023, 03:00:48 AM

Which one do you think is better and has more healthy growth for a new online casino?

Is it better for a new casino to take their time very slow with their project for the time being to be able to raise some money first and only attract users with banners and small advertisements?

Or a new casino project should go all in on doing advertisements starting from their launch date with everything they've got?

Why do new online casinos struggle? A Few I knew are not doing fine and they had to put an end to their advertising campaigns.

There is no wrong for a new casino to start small and grow big as long as they are of good service to their participants. The one thing i believe is that your out put would credit you for your rewards. So growing gradually should not be a problem to a new casino in need of funds as long as they have and render quality service to their members which should be their utmost priority.

Although, their is nothing wrong to doing advertisement but quality service should be the ultimate goal so that the advertisement can remedy their services.

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Quote from: AbuBhakar on April 08, 2023, 10:04:07 AM

Right now, the real killer is the marketing because this is the bread and butter of casino industry to become successful in this business.

It is one of the biggest factor but it's not all about marketing. There goes the actual experience that they offer to their users and that's a good capital for them to get a head on.
While some casinos think that it's just enough to have a marketing run and then will get to expect results quickly, that doesn't go like that. It has to be a long term commitment and process before they see the positive results of it.
But if it's not, they can come up with another strategy that will make them be ahead there because the path isn't easy to all of them even those that are successful now.

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Quote from: Crypt0Gore on April 05, 2023, 03:00:48 AM

Is it better for a new casino to take their time very slow with their project for the time being to be able to raise some money first and only attract users with banners and small advertisements?

Or a new casino project should go all in on doing advertisements starting from their launch date with everything they've got?

I think it is always better to plan everything and then jump in the business. If you start right away, there's always the chance of many bugs and system error. And there's always the problem of funds. You need a good strategy in order to build a strong platform. The new casinos are crashing, not due to fund problem I guess. It's because of their way of approach. There are already other reputable casino who are better than them and doing ok. They approached the market with good strategy and well-thought-out plan. And I am sure they took their time to do it.
So what I understand is that depending on their goal, they can choose what fits best for them. If it is to raise fund, then the slow approach is the best option. But if you already have the fund, you can dive right in and plan as you go. But it's a risky approach.

Mr.right85

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Quote from: Crypt0Gore on April 05, 2023, 03:00:48 AM

Which one do you think is better and has more healthy growth for a new online casino?

Is it better for a new casino to take their time very slow with their project for the time being to be able to raise some money first and only attract users with banners and small advertisements?

Or a new casino project should go all in on doing advertisements starting from their launch date with everything they've got?

Why do new online casinos struggle? A Few I knew are not doing fine and they had to put an end to their advertising campaigns.

Your goals for your project is what really serves as a directive on what or how to go about managing your funds andrhe means of going viral. Be left assured, there are alway going to be interpretations to it just as, you've attached ending or pausing of campaigns to mean a project isn't doing well.
Maybe or maybe not. Maybe they've gotten the results they want or aren't getting it and just maybe they've exhausted the funds that was budgeted for that form of publicity and would be looking at other directions. It's subjective really.

The way you start depends largely on the CEO or board if it's got one. Campaigns don't always end in publicity but could be giving back as well. Starting small could send the a signal of, you ain't got what it takes to run a casino or sportsbet while, starting big could show your capacity of being ready fundwise to go all the way.

Meanwhile, it all comes down to what's the best means to attain your goal and so you've got to evaluate it and be cool with the results your means grants you.

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Quote from: acroman08 on April 05, 2023, 04:08:48 AM

going all in would be a lot better than doing it slowly or with small advertisements(I am not saying that doing it slowly doesn't work). if they are going to go all in with their advertisements they should also be strategic about their marketing to not waste unnecessary funds for their marketing/advertisements. now, despite my saying that going all in is better, it is still not guaranteed that the casino will be successful because marketing isn't the only reason why casinos succeeds.

All in sound like the same when we all in our bets in a casino. It is risky because once we lose, we are no more but the only good thing about it is that we can also win huge if we hit out bets. In terms of advertisements, I think it can be done slowly. We will test out first if the advertisement platform that we use is effective and can deliver a great results but if not, we can stop it and pay another in the other platform.

We must know that advertisement is only a small part of the pie but in order to make it more effective, our site needs to be fully furnished first. It's normal for a new casino to struggle because they can lack of something yet but as soon as they progress, things will only get better so the goal is to not get discouraged easily but they should only stay consistent on working hard.

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Quote from: mak013 on April 06, 2023, 07:52:34 AM

Any new casino has several ways of growing up. The promotion is only one of them. And i don`t sure that new casino has no other problems except promotion.
For some of them it would be better to have small quantity of gamblers at start. It can help them to fix bugs, check equipment, work with gamblers feedback. And only after all these events spend money for marketing.

You are very correct, but then again, it is actually very rare to see a casino that started out their gambling business with lots of customers, every casino starts with only a few customers, this is not something that is peculiar with casinos alone, it is almost same for every business, this is because at the very start, casinos have to first prove their legitimacy first and seriousness, this is how gamblers begin to trust them and they(the casino) start building out their reputation, when trust has been fully established and customers are not longer doubtful of them, at this point, if the casino is still struggling with few customers, it's time for them to employ heavy marketing and promotions.

I think that there are different ways to success. Sometimes it is marketing. But sometimes it can be better to use these money for improving services, security, website. Probably they can create mobile app. But i`m sure that anyway they have to promote their casino sometime. Or they`ll stay small high quality casino.

Marketing is one of the fastest way of making money in the gambling world as a company by creating awareness for gamblers to know about there service. It is also good when casinos improve there services so the experience of customers would be unique and better. We have so many gambling platforms online include fiat and cryptocurrency casinos giving gamblers a choice to make depending on what they are interested and like to bet on. This is why casinos need to be unique in the service so that gamblers can find a place to enjoy when using a casino.

You`re right about marketing. And if the casino is sure in their services, servers, security system - the marketing is the excellent way to attract gamblers and their money. But we are talking about new casinos. Most of them have lots of problems and they need money to solve it. So the marketing for them may be a bad decision - they`ll get gamblers when they have problems and will get awful feedback.

jrrsparkles

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Quote from: Crypt0Gore on April 05, 2023, 03:00:48 AM

Which one do you think is better and has more healthy growth for a new online casino?

Is it better for a new casino to take their time very slow with their project for the time being to be able to raise some money first and only attract users with banners and small advertisements?

Or a new casino project should go all in on doing advertisements starting from their launch date with everything they've got?

Why do new online casinos struggle? A Few I knew are not doing fine and they had to put an end to their advertising campaigns.

Ending signature campaign doesn't mean they are struggling to allocate budget for their advertisement, it has other reasons too like some gambling sites run campaign for years so they thought okay its enough and we can spend that money on other platforms apart from bitcointalk while talking about new the results aren't that effective as they expected so looking alternative way of advertising.

Gradual growth is good and pocket friendly but it takes time so it depends on the operator and what goal they're having about their casino and its future so they need to make decisions depends on it.

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Quote from: Peanutswar on April 08, 2023, 09:34:25 AM

Quote from: xSkylarx on April 07, 2023, 05:32:53 AM

Quote from: _act_ on April 07, 2023, 04:10:49 AM

Quote from: MainIbem on April 06, 2023, 06:10:49 PM

That is it, most of those project couldn't hold to finish development properly before coming into marketing, we all know that marketing is what gives a project the required exposure but what they fails is that focus on concept of their development than promotion.
While most of struggles because they are highly competitive, which most of them couldn't meet up with some of the standard could as well results folding up.

Marketing is very important, I am not surprised that most organizations that are new spend most of their money on marketing, because they depend on more people for their company to grow, advertising is very important. If a gambling site do all necessary, having good customer care, good service, good everything, but if the gambling site do not have good marketing, they will not just grow. Marketing is very important for a gambling site to grow as the competition with other gambling sites is very high.

They won't even get recognized; it is not like a store that if you build it in a city, a lot of people will see it and eventually buy it, but in this case, it is an online casino, and most of your competitors are investing a lot of money in advertising, for which they got recognized. Now a days they allot a huge budget in advertising as they know they can get more customers on it to play on their casino. That is why no matter how nice your casino is, if you ain't investing in promotions, it is still useless.

For a new gambling casino, its quite too hard to them recognized by the community because there's a lot of casino that already exist and gives a really good quality of services to be part of this as a new casino they also need to show ups themselves just to give a chance and one of the best way is doing with the multi-level marketing strategy like the other casino did at the same time, additional with the presence of the people in the world of social media, if you keep browsing those people who have tons of followers offering this kind of advertisement to their players and by that if the number of active players increases thats the result of one of their effective marketing strategy.

In the end, a new casino must have a large enough bankroll or large funds to carry out promotional advertising or any marketing strategy to introduce the casino to everyone or the public.
In this way the casino can be recognized by many people with all the promotions that can attract new customers to try new casinos.
Promotion bonuses are also the most sought after by gamblers out there or faucet system which customers can take free to try new casinos.
Faucets can be one of the attractive features for casinos to provide evidence to customers that new casinos are very luxurious with all the attractive promotions and features.

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Quote from: Dunamisx on April 08, 2023, 09:41:43 AM

Any casino that has the operators behind it not being experienced enough in gambling will suffer alot in terms of cost of operations and maintenance because they don't have an idea of how it had been used to be, all you will see is that they are spending much but seing less, before a casino can come into full operation, they needed to carry out sone pre-operational check and research on that particular field, gambling casino is not what anyone can wake up and decided to run, else he has failed already right before starting.

Agree. It’s only possible to operate a casino low cost through decentralized casino which doesn’t offer 3rd party games and other special feature like live support in the casino. This way, Only the website cost and maintenance is needed expenses and the rest will be just pure marketing but the only cons was the demand for this type of casino is very low that even Primedice upgraded their decentralized dice site to full centralized casino Stake.com.

Right now, the real killer is the marketing because this is the bread and butter of casino industry to become successful in this business.

Dunamisx

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Any casino that has the operators behind it not being experienced enough in gambling will suffer alot in terms of cost of operations and maintenance because they don't have an idea of how it had been used to be, all you will see is that they are spending much but seing less, before a casino can come into full operation, they needed to carry out sone pre-operational check and research on that particular field, gambling casino is not what anyone can wake up and decided to run, else he has failed already right before starting.

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Quote from: xSkylarx on April 07, 2023, 05:32:53 AM

Quote from: _act_ on April 07, 2023, 04:10:49 AM

Quote from: MainIbem on April 06, 2023, 06:10:49 PM

That is it, most of those project couldn't hold to finish development properly before coming into marketing, we all know that marketing is what gives a project the required exposure but what they fails is that focus on concept of their development than promotion.
While most of struggles because they are highly competitive, which most of them couldn't meet up with some of the standard could as well results folding up.

Marketing is very important, I am not surprised that most organizations that are new spend most of their money on marketing, because they depend on more people for their company to grow, advertising is very important. If a gambling site do all necessary, having good customer care, good service, good everything, but if the gambling site do not have good marketing, they will not just grow. Marketing is very important for a gambling site to grow as the competition with other gambling sites is very high.

They won't even get recognized; it is not like a store that if you build it in a city, a lot of people will see it and eventually buy it, but in this case, it is an online casino, and most of your competitors are investing a lot of money in advertising, for which they got recognized. Now a days they allot a huge budget in advertising as they know they can get more customers on it to play on their casino. That is why no matter how nice your casino is, if you ain't investing in promotions, it is still useless.

For a new gambling casino, its quite too hard to them recognized by the community because there's a lot of casino that already exist and gives a really good quality of services to be part of this as a new casino they also need to show ups themselves just to give a chance and one of the best way is doing with the multi-level marketing strategy like the other casino did at the same time, additional with the presence of the people in the world of social media, if you keep browsing those people who have tons of followers offering this kind of advertisement to their players and by that if the number of active players increases thats the result of one of their effective marketing strategy.

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- With so many competitors in the gambling industry here in cryptocurrency it will not be easy for a beginning casino in the crypto space, especially if its other competitors have good marketing strategies.

That's why other people who are just starting a casino in this industry are just copying the strategy of others who have been here for a long time in crypto gambling and they will just change it a little so that it won't be plagiarism. is also good at thinking of strategies, in fact.

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Quote from: Crypt0Gore on April 05, 2023, 03:00:48 AM

Which one do you think is better and has more healthy growth for a new online casino?

Is it better for a new casino to take their time very slow with their project for the time being to be able to raise some money first and only attract users with banners and small advertisements?

Or a new casino project should go all in on doing advertisements starting from their launch date with everything they've got?

Why do new online casinos struggle? A Few I knew are not doing fine and they had to put an end to their advertising campaigns.

Going "all in" into any new project is too risky for my taste, I do think that it would be better to slowly grow as a casino. There are few advantages for being a casino that has been around quite some time, compared to completely new startups. First of all, you show some confidence to your customers that you are not going to disappear quickly again. Having a positive track record is very important for online casinos. Secondly if you build your casino slowly over time you can react better what the customers want and shift your main focus on the most played games. And a third advantage is that there might be some scandals in other casinos where you than can take advantage of when you have the reputation of a reliable casino. Also I do think it's important for online casinos these days to run special advertising and promotions from time to time. In case you use all your money now directly at the start of the launch phase you might struggle to afford another round of promotions down the road.

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