Why do new online casinos struggle? - page 4.

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Quote from: BitcoinPanther on April 06, 2023, 05:08:26 PM

New casinos struggle because of their lack of branding, customer and players. They also struggle because of the competition and the lack of reputation. In order to survive the market, I think new casinos should make a good investment on promotions and marketing. They must put a reasonable funds to it but they don't need to put too much because it may put more stress on their operational activity's funds. They should wisely plan their budget in order to have their operation goes smoothly.

Building reputation takes time so they need to plan their budget carefully.

The casinos will always have a lot of competition, those who are starting out also have hard times because it is obvious that many want to enter to play and win, and the casinos have to have a lot of reaction and ability to appease those who win, in case it is not when the problems begin, and everything originates with the withdrawals and that is something that causes a lot of annoyance for everyone, and this is something that when it starts like this gives a bad feeling because it is not normal for a casino to start and not pay.

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Quote from: MainIbem on April 06, 2023, 02:01:05 PM

Projects aren't required to instant making advertisement without proper planning, any projects or gambling site that wants to involved in marketing are those who have already map out some cool funds for advertisement and it has some certain duration to last. All less they already starting making profits from as they launched which might propelled them increase their period of promotion.

It is only natural to have plan and budget when a new casino wanted to advertise their casino or having promotions for their gamblers so that many people will know about their casino and may be attracted to the casino because of what they do when they are marketing their project. I know a casino that is new and It doesn't have lots of gamblers even now but they did find ways to make their casino known and you can say that the casino is struggling for that part. I am sure the casino will attract gamblers in the future when they are known and starting to have a good reputation.

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New casinos struggle because of their lack of branding, customer and players. They also struggle because of the competition and the lack of reputation. In order to survive the market, I think new casinos should make a good investment on promotions and marketing. They must put a reasonable funds to it but they don't need to put too much because it may put more stress on their operational activity's funds. They should wisely plan their budget in order to have their operation goes smoothly.

Building reputation takes time so they need to plan their budget carefully.

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Quote from: Dunamisx on April 06, 2023, 04:54:59 PM

They struggles because they were just new to the system, they also struggle because it is believed that every new enterprise struggles for a start before they later get balanced, now this struggle could come in different forms, one of them is financial struggles, security struggles, gamblers struggles, competition struggles and many other causes why a casino struggles or thrive before it gets well established with fewer struggles.

It is normal for new casinos to struggle in the beginning. First, they have to gain more investors which is quite hard since most players and investors prefer popular and reputable casinos and avoid non-established sites. I think they have to polish everything on their casino first before launching so they could easily gain the trust of their users. There's no such thing as a perfect casino but if they can run a good way right from the beginning, users won't doubt them as scam casinos.

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Quote from: Pandu Geddon on April 06, 2023, 04:53:43 PM

Quote from: MainIbem on April 06, 2023, 02:01:05 PM

Projects aren't required to instant making advertisement without proper planning, any projects or gambling site that wants to involved in marketing are those who have already map out some cool funds for advertisement and it has some certain duration to last. All less they already starting making profits from as they launched which might propelled them increase their period of promotion.

Casinos or projects that don't continue their campaigns are obvious because they don't get a good impact from the campaigns that are being carried out. but to see results they cannot in a short time, they must at least measure success in a certain period. and during that period the casino must have sufficient funds to pay out.
most of them finished very quickly because they did not have strong funds for their marketing allocation. so they will focus on project development first.

You can't really see the impact of such marketing campaign in just short period of time.
If the casino has no funds for it, then, invest in other features of the site like rewards, bonuses and should have very active site support.
Some casinos here don't have active campaigns, yet, they seem to survive as they have loyal patrons playing.
So long you are not cheating the players, no issues when it comes to withdrawal and have fast response to any concern, in time, you will gain your patrons.

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They struggles because they were just new to the system, they also struggles because it is believed that every new enterprise struggles for a start before they later get balanced, now this struggle could come in different forms, one of them is financial struggles, security struggles, gamblers struggles, competition struggles and many other causes why a casino struggles or thrive before it get well established with less struggles.

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Quote from: MainIbem on April 06, 2023, 02:01:05 PM

Projects aren't required to instant making advertisement without proper planning, any projects or gambling site that wants to involved in marketing are those who have already map out some cool funds for advertisement and it has some certain duration to last. All less they already starting making profits from as they launched which might propelled them increase their period of promotion.

Casinos or projects that don't continue their campaigns are obvious because they don't get a good impact from the campaigns that are being carried out. but to see results they cannot in a short time, they must at least measure success in a certain period. and during that period the casino must have sufficient funds to pay out.
most of them finished very quickly because they did not have strong funds for their marketing allocation. so they will focus on project development first.

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The competition between gambling platforms is merciless. Especially if we talk about advertising scaling within the forum. I have seen many here talk about the effectiveness of such a strategy as a signature campaign but no one is telling the truth, no one is saying that this strategy only works in the long run.

Things are just as difficult with aggregator sites, because in order to be represented on some reputable platform and get traffic, you need to make huge monthly contributions. Add to that the fact that you have to have a wide range of games to choose from - if you don't have that, it will be very difficult for you.

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Quote from: pakhitheboss on April 05, 2023, 04:00:26 AM

Every new business struggles in the beginning. What makes them profitable in the long run is what they offer unique to their existing and new customers. A new casino will face the same issue as an established casino faced when it started.

The conventional approach for promoting an online casino works but won't generate good business. I have seen some established casinos nowadays hiring influencers and promoting their products using their influence. Some new casinos might hire them initially and some might not be depending on their marketing budget.

Overall patience and long-term marketing are the two ways through which a casino can stay afloat in the long run.

It’s a common scenario for beginners to struggle first when they are starting simply because the pressure is there especially that there is stiff competition when it comes to business. What’s more important is that they can sustain their productivity and profitability in their business throughout the years of operation. The risks and struggles will always be there since every casino wants to take an edge over the others.

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Quote from: STT on April 06, 2023, 04:24:35 PM

Inertia, its costs the most energy to set something rolling first of all. You are wanting to draw in players but most of them will be players who already know of all the other alternatives to your casino, very few new players are gained at least initially. So as the newest casino you have to beat those with a standing advantage, it wouldnt make sense if that wasnt hard to do.
Also apprehension of a new setup, some things have to be time proven in quality and consistency. Brand new unfortunately will not mean consistent, some of the effort required will be time put in assuring a continuous reliable experience and letting people know you intend to safe guard their experience properly.

When building up a business then of course you would really be minding about on being better with the current sites or companies that existing as of today on which it would really be just normal that it would be

not something easy as it sounds on trying out to be much better than them or trying out to kick up their butts into their current place and replace them.This is why when building up a business then it would be normal that you would be thinking something more new or better with the current best ones, if not then you would just likely to be that be ignored and would totally still fail, no matter how generous
or big your marketing would be and if the people do find out on giving out that repetitive offering and services then it would really be just be ignored.

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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.

First, we should know why new casino struggle in the market then from that we can pick which one is the best option to solve the problem.

According to what I have learned (base on the information on the internet) new casinos[1] struggle because of the following:

1. Creating Brand Awareness
2. Adapting in the global problem
3. Inadequate Resources
4. Generating good leads
5. Producing ROI
6. Delivering personalized experience
7. Competition
8. Regulation and Licensing
9. Management issue

These are some of the factors and challenge a new casino has. Whether a casino needs to go all in for advertisement is not good advice since they still have operational costs where they need to pay for the maintenance of the site and to pay their staff and the casino needs funds for their bankroll to pay players when they win. While taking it slow will make them left behind by their competitors.

I believe proper management and planning are the most important to be able to maximize their resources. Advertising is good but it should be done with maximum effect with minimum expenditure.

[1] https://www.cmocouncil.org/expert-views/pov/what-are-the-biggest-marketing-challenges-for-us-casinos-in-2022

STT

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Inertia, its costs the most energy to set something rolling first of all. You are wanting to draw in players but most of them will be players who already know of all the other alternatives to your casino, very few new players are gained at least initially. So as the newest casino you have to beat those with a standing advantage, it wouldnt make sense if that wasnt hard to do.
Also apprehension of a new setup, some things have to be time proven in quality and consistency. Brand new unfortunately will not mean consistent, some of the effort required will be time put in assuring a continuous reliable experience and letting people know you intend to safe guard their experience properly.

gunhell16

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If there are few players who will gamble in a casino, it will be really difficult for them to survive in this kind of business. Because no matter how good their marketing strategy system is, if there is no gambler to bet on their platform, the business will quickly collapse.

So it always depends on whether the flow of the idea of gambling will attract gamblers, and maybe also the influence of a gambler on the gambling platform anyway.

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Quote from: Cantsay on April 06, 2023, 02:26:47 PM

When a casino just start newly, it's better for them to first gain the trust of their customer or perhaps potential customers, because when they just jump into the business with the intent of profiting there is a high probability that they are going fail.
But if it's a casino that won't be able to survive for a long period without profits then they can start looking for ways to profit from gamblers, as they do say, "no risk no gain".

Every casino has to earn the trust of every user but for new casinos are not familiar to the gambler community so they have to allocate funds for campaigns and advertisements on the site or strategic sections to gain interest from potential users, now many new casinos don't have enough funds for campaigning so the duration of the campaign is very limited so that the results of the campaign promotion for the gambler community are not optimal and it will be difficult to get new users, but if the team continues to consistently build a gambling platform then in the next few years they will already have an active user community.

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Quote from: pakhitheboss on April 05, 2023, 11:52:53 PM

A new casino will always fail if the owners are looking for profits from day one. As casino scams are quite common in the online era not everyone will believe in a new casino. The need to first build trust and work on marketing. These things take time and also need good investments. This is why the casino business is not that easy. I guess this might be the reason why most online casinos cease to exist after a year or two.

When a casino just start newly, it's better for them to first gain the trust of their customer or perhaps potential customers, because when they just jump into the business with the intent of profiting there is a high probability that they are going fail.
But if it's a casino that won't be able to survive for a long period without profits then they can start looking for ways to profit from gamblers, as they do say, "no risk no gain".

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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.

I am not a business person in this industry. So, I'm just saying according to what I know. even then, the answer is not necessarily correct.

So, to build a new online casino. before you build an online casino, you have to prepare everything from scratch and the most important part is sound financial logistics. or, you have a business partner as an investor who supports the business you are running. then, you are looking for people who are competent in their respective fields to run or operate the casino that you founded.

With sound logistics, you won't have problems related to marketing problems, you can do it right with your team. plus, hire the services of some well-known Influencers to promote your casino. besides that, you also have to have a team that runs your casino management. whether it's a part of promotions, bonuses, and others. even though your casino is relatively new. if managed properly, the results will be good. but before that, as I said before. structured planning and healthy financial logistics, will expedite the business you run. Well, considering the many new casinos it's hard to survive. most likely, that they don't have good management. plus, unhealthy financial logistics, thus hampering their business in this industry.

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Projects aren't required to instant making advertisement without proper planning, any projects or gambling site that wants to involved in marketing are those who have already map out some cool funds for advertisement and it has some certain duration to last. All less they already starting making profits from as they launched which might propelled them increase their period of promotion.

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Quote from: QueenVera on April 06, 2023, 01:03:25 PM

Whatever the case might be, most new businesses always suffer especially those without much starting capital and that is why it is advisable to have a budget for everything one does especially with business oriented ones.
I think before a casino comes to market they are supposed to have budget for everything especially marketing because marketing is one inevitable aspect of a business that can't be over looked, especially in a relatively very competitive industry like the gambling industry, hence the easy of success of a casino aso depends greatly on how much they are ready to spend on promotions and adverts.

so many crypto casinos out there and they all compete. it's not enough to just rely on the quality of the game because of course you need a lot of promotions or bonuses even marketing on a large scale certainly helps casinos exist faster, many new casinos are usually not too confident to introduce their casinos even most of them don't have enough funds to do what casinos do others, but actually back again to the money

Anyone wanting to be in business building their casino needs to really have a large bankroll that will probably benefit them in the long run, but it's true that building a reputation is not easy it takes time to earn the trust of users.

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Quote from: ethereumhunter on April 06, 2023, 05:39:16 AM

New online casinos can find it difficult to compete with existing casinos because the old casinos already have loyal members who often play at their casinos. But new online casinos have to provide something different from the old ones so that people will try it. Maybe promoting the platform on Facebook, Twitter, and other social media platforms will help the new online casino gain new customers. But the new online casino really needs to try every way to get its new members.

I think it is entirely uninteresting and profiting for new casinos to try to compete with already established ones since that is an impossible thing to do because older casinos already invested time and energy in building a reputable casino as as they keep growing their implementing new features that will keep them ahead of their competitors in the market.

New casinos have a lot of work to be done and competing with old casinos is one of those works instead of building a solid platform that will keep players on their toes and make them feel special to attract them from their already loyal casinos there have built trust on over time.

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Whatever the case might be, most new businesses always suffer especially those without much starting capital and that is why it is advisable to have a budget for everything one does especially with business oriented ones.
I think before a casino comes to market they are supposed to have budget for everything especially marketing because marketing is one inevitable aspect of a business that can't be over looked, especially in a relatively very competitive industry like the gambling industry, hence the easy of success of a casino aso depends greatly on how much they are ready to spend on promotions and adverts.

Topic: Why do new online casinos struggle? - page 4. (Read 825 times)