Topic: Why do new online casinos struggle? - page 3. (Read 822 times)

It's true what you say. If casinos work hard to achieve or build their reputation, it won't take long to earn it.
And the casino owner also has to remember that in gaining that reputation, there will be a lot of problems that arise because there must be business rivals who don't want to see that happen.
Casino owners must be prepared for intense competition from other casino owners because they are in one big business: gambling.
Cost is a factor that casino owners must consider because it relates to promotions that the casino must carry out.

Of course, reputation counts, and this is what they will have to strive to build in years. Unless the casino is a scam that will build trust for a while and disappear with people's money over time. If not, they need to follow an integrity path and use the right technology to be trusted as they pay ASAP. With these and even more, trust would be built.

Also, for those that mean business, marketing matters initially. This is the way to attract gamblers, and it will now be left to them to use good service to make them stay.

I always like to start small and grow big. Starting any business and growing it is pure hard work. It takes patience, dedication, and sacrifice to build and grow a business. But the advantage is that building and growing a business is less expensive than buying or spending more. It all depends on the plans and the financial strength of the business owner. If you want your casino to become popular within a short period and you have the money, that's good for you. If you don't have the money to spend on promotion and others, start small and gradually grow. It will always not be the best idea to take loans for business investment because no business is predictable.

A casino like every other business will struggle because of poor funding, poor management, unfavorable government policies and fraud or cyber attack.

Very good and accurate observations Mr. OG, just what I expected from an OG forum member. Consistency and continuity is probably the most important thing a business needs to achieve. It takes years to get there and even a small mistake you made may ruin everything you did before. Stake and freebitco.in are very good examples. They are consistent, they have a long history and a very good reputation. Imagine the know-how these people have in their disposal. They deal with the hackers, they deal with the cheaters, they deal with the legal entities... Why would anybody leave these good casinos for something else? There must be a very very good reason.

Every casino owner will definitely prepare funds that are large enough to be able to build and develop a casino plus the support of investors who come in because the casino business is a promising business so that there will be several investors who invest their money in casino development.
So any marketing development project that will be carried out by a casino with the aim of being able to make a large and well-established casino must have funds prepared.
As long as the casino project runs normally and smoothly, it will definitely have a good impact and income from the casino can be obtained continuously, so the casino doesn't need to think about what they have to pay.

and those project are a kind of only relying to investors and has no complete funds inside their pocket to sustain the project and ending up not having a good marketing strategy.
and also you are correct about the competition as we can see there are already tons of gambling site that existing here with good reputation and big marketing .
but lets give them a chance and to make their way to the top as long as they are honest and also has this funds to operate and pays their winner.

I would imagine it’s because there are a lot of costs involved with running a casino. It takes a long time to build up a reputation to wear. customers feel safe depositing large amounts of money on your casino. People also don’t really like change and established casinos do a lot to reward their customers. It would take a much better experience to get people to consider a switch.

I'd argue about development among all those things. Casinos generally don't change, even if there were, most of them are minor changes to UI design (unless a completely new system was added, like NFT's), so development should be COMPLETELY finished before starting the marketing side. Even minor fixes should be kept at the minimum since casinos are mostly fixed, bugs and the like would probably only come from network tests or something. Plus with this, there's more manpower given to marketing compared to doing them all at the same time.

I think it would be better if development, marketing, promotion and even advertising, were better done concurrently for a new gambling business. if this is done simultaneously, of course, it will attract more attention of new users. when doing advertisements or promotions, there are always improvements or developments that make gamblers think that the new casino is serious about growing its business.
on the other hand, new users who know that there are always improvements at the casino, of course customers will trust more to gamble there and new casinos must provide any promotions or features that make users feel at home and be able to compete with old casinos.

even when doing a campaign and not getting anything good, don't stop the campaign, it will make users think that there is no seriousness in doing development and think that the new casino doesn't have big enough bankroll, which makes customers doubt.

if they are really   a New gambling site literally , meaning just created within a year then taking it slowly will be best for them as they will gather a right player and not just those abusers who are seeking for chance taking advantage to make money.
this is something those old casino that have just entered this forum act,and sending big funds for advertising will help them get sympathy and curiosity on how their site being used and yes they will enter.

Truly most of the projects fail as a result of their quick to launch approach when they know fully well they are not ripe to launch yet and at the end  they face lots off challenges and eventually fold up carting away with investors fund. Some feel the market is free without any pressure and they fail to face the reality by preparing for plan b as the case maybe but they do not reason that in anyway what they think is that the market is already there for them to leverage upon but they have forgotten so soon that they are not the  only one in the race which brings them to their rivals but before they would realize, they have already done much harm than good to themselves which eventually leads to them folding up.

There are quite a few things that influence casinos a lot, and one of them is that they do not believe much in advertising, they prefer to advertise by paying bots on social networks and it is something that does not give any results, there are casinos that start well, and They believe in the signature campaign on the forum, so they don't believe this type of thing from the start because they can say that they don't have enough money or anything else, but if they pay attention to the fact that it is best to believe in the publicity of the forum they have good results in their casinos, of that I am sure.

Advertisement is a must especially when it would be for the new platform. The most difficult thing to compete with so many popular platforms. the reputation from the new casino has become a very big question too. It will be an additional score if the platform has been fully licensed.
That being said if it will be legally registered. It's not that advertisement should be continue if they were seeing if it has no big impact for their platforms. Advertisement is a very important thing but if you are as an owner from the casino and you should try some different ways to make sure which way that will give you significant traffic for your platform. As a new casino and the owner shall not go all in advertisement. It must be trusted and the most important thing is fully ready with real time withdrawal.

So many new platforms were just wanna try to attract money to come and then gone. There have been many problems that were occurring into the new casinos.

Having a license isnt everything because it wont really assure that it would gain up trust and popularity but somewhat this had been mostly where people been seeking whenever there are new platforms that
announcing their launching. Struggles and challenges is never been new by any business out there, this isnt limited on gambling but also in other businesses as well on which you would really be having that hard time on getting customers or users which is the toughest thing that you would be encountering when running a business and this is why success would really be depending on how
hard you do put up effort and give out plans into your business.

One thing that can help for a new casino to build trust is have a license; I know it is far from the holy grail but it is already a small step. It takes a long time to build a good reputation but only seconds to destroy it. If complaints appear (and they will), than they all needed to be handled in a good way and there are many examples for new casinos on this forum where that is clearly not the case.

Any online business whether small or large needs effective advertising to become popular and well known without any expectation. It,s especially important to have a good advertising budget in the gambling industry if you spend much in that business and since where there is intense and much competition between casinos talking about both online and offline. I believe that as much as you invest in service quality you also should spend approximately the same amount of money on advertising your services.

The simplest example i can give you can be seen here in Bitcointalk, where the most popular and successful casinos are the ones that advertise the most frequently and for longer durations. Due to the huge competition we can see if one casino stops advertising another casino quickly replaces it and gains more popularity in short time. Beside that advertising should be well managed and it should include attractive bonuses, banners, and professionalism. It is challenging to attract customers when there is so much competition going on so the best approach is to combine good quality services with effective advertising to bring in customers initially and then retain them by providing excellent services. These principles apply to most if not all businesses nowadays and i shared what i see as a gambler and my experience here.

From what i said i believe the answer to your question why new casinos are struggling it’s because of lack of good quality services and not advertising well or in good places where to attract customers.

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.

The competence is high, nowadays casino business have turned to be a big capital business. In the past even with single game casinos gets launched and slowly increase the games and make changes to the platform. Nowadays everything needs to be added at the beginning, if not people doesn't consider it and there won't be much traffic. In some casinos the edge wouldn't be got back perfectly which lets the casino go bankrupt in short time period. In recent years I came across a gambling platform (doesn't remember the name) which ran its promotion program in our forum and closed the business within two months going bankrupt.

You just don't try running faster than your shadows as there's every likelihood you going to have a chaotic fall along the way. Same applies to even in newly established businesses, you don't need to rush the market by going shoulder to shoulder with old businesses that have built a strong  and vast market for itself over the years as they already have the public space which you as new doesn't posses. So it's better to start unflashy and inexpensive on adverts and other requirements, gradually you gain a strong space. And this also helps in avoidance of unnecessary and extravagant expenses blowing up the company's account in short period leading to a closure.

I wouldnt advise they chose this pathway but if they feel they have all it takes to aggressively launch itself into the market with a good plan that is achievable within a short frame then they're good to go. But I'll counsel that as a newly opened business,  putting down a contingency plan that could help stabilize and handle possible tension that could rise from competitiveness of the business environment to avoid a forceful breakdown.

How much agressive a new casino's promotion should be depends on many factors. The main factors I can think of are how much money they have in their bankroll and how many users their platform and servers can handle.
Many new casinos started their journey by conducting multiple and heavy advertising campaigns on multiple channels but the results weren't as expected since those casinos encountered all kind of problems as soon as they started receiving a huge number of customers.
On of the examples is those casinos which thought offering no-deposit bonuses is a good idea to attract new players but then they had to shut down their services because they didn't have enough money to pay all the winners.