Why do new online casinos struggle? - page 8.

Synchronice

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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.

They struggle because there are casinos that have been in business for a very long time, have gained trust, have gained popularity, have established long-term partnership with celebrities and famous football/basketball clubs, have tremendously increased their capital and have a good profit. The years they put, the work they put, the time they put, the researches they have done, all the stress they have gone through with a success makes them to keep their top positions in this market.

When new casino enters the market, it has to gain a lot more capital than their competitors had to at past, they have to hire experienced developers, marketers, designers, researchers, especially in their niche, so, they have to attract employees of competitor companies and you know, this is very hard.

masulum

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hmph..

In any business, there are some important points to consider.
1. Growth
2. Customers
3. Capital
4. Advertising and promotion
These 4 things are the core of a business that must go in one direction. When one of them doesn't work, the business will going fall. Casinos being quite a thriving business today, they fail to grow mostly because they don't get enough customers, capital, advertising & promotion. Most casino businesses will rely on the referral method at the start of launching to get customers. Strong capital support to provide special promotions for users so they are loyal. If there are no attractive promotions, of course it will be difficult to get customers. Business developments also affect results, with many online casinos today, competition for customers will be more difficult.

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

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.

In reality, competition in the gambling industry is not as easy as it seems. I know that many casinos have had great success, while others have failed. All of these problems stem from the casino's own financial condition. If you have a large budget, there is a possibility that you will be able to compete in this industry in a healthy manner and last longer.

Promotion of forum, social media as well as cooperating with some sports teams will increase awareness of the service among people but I don't think it will determine great success but it can help the casino get the attention of many new users. To survive and compete in the industry, casinos must have big budgets, that is the first apart from their great services.

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

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.

OP, I remember one of the sources I've read, about bankruptcy or as you said new casinos are quite difficult to develop.

The answer to the OP's question is very precise as it is in the answer below.

Quote

Getting big profits is one of the hopes for everyone who wants to open and run a business, whether it's the gambling industry etc. However, the business that is managed does not always run smoothly. Losses will also color the business trip.

It cannot be denied that in running a gambling business and other businesses, losses are certain to occur and become a risk that you inevitably have to go through. As a businessman, failure or bankruptcy can be a frightening image considering that not a little capital has been spent, both financial capital, time and energy.
For this reason, every business person must have a certain strategy in order to be able to prevent or be able to anticipate things that can trigger losses, whether it's advertising costs for gambling campaigns, other costs and so on.

In the quote above, we can draw one conclusion, a new casino is very different from a casino that has been operating for a long time, it can be caused by large costs, fairness and also the trust factor of users who want to gamble in new casinos, sometimes there are many new casinos that cannot afford to pay all fees because they rely a lot on money or profits from players alone, without having high capital, so the casino must be stopped.

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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 have no idea how best to operate the casino in order to attract new users and gain a foothold in this area. In my opinion, specialists should deal with these problems.

I assume that it is difficult for a new casino to break through the background of others for a very simple reason: a gambler would rather choose an old and well-known casino than a new one that may turn out to be a scam or close in a week, roughly speaking.

If I were a player, then I would ask questions:
- What can a new casino offer me that is unique? Most of the time it turns out to be nothing. With the exception of dubious bonuses, which are not easy to pick up.
- What do I lose by playing in new casinos? - The feeling of reliability and security that is provided by proven and familiar casinos.

It seems that the choice is obvious here, if you are not looking for thrills and are ready to expose your deposit to additional risks.

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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.

It's actually very easy to start a new gambling business, especially in gambling, maybe most gamblers always try the newest casinos. But yes, launch preparations must be well prepared to attract gamblers, place advertisements, a new user bonus system, referral bonuses to increase the attractiveness of gamblers. I think if you only have a small capital in preparation it will be quite difficult to develop in the gambling industry, maybe you need to look for additional investors to start with a better step than using funds from your own pocket which is very limited.

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There are different factors that can make a new casino to be struggling to survive in the casino space online. The number one reason is their capital and their response to customers complains. If the total money (the start capital) is not big enough, they would face challenges to pay gamblers wins and also it will be very difficult for them to carry advertisement/marketing to boost the moral of the people visiting the site. Then another thing that can also affect the casino is the response, if the response to customers are not favourable they would not tell good about the site to other gamblers to visit the site. But if these two factors are deal with and the promo bonuses on ground then within, one month that casino site would see traffic in the site.

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In creating with the gambling industry most likely with the crypto is really takes some time-consuming and money for investment if you really want to start at the first place your team of developers, project managers, and marketing promotions already prepared to deal with your business, better to make your platform prepare before releasing the project that how does the QA works so once you release and the players found a bug you do not need to take more time just to justify those things again. Advertise your casino so tons of players to get attracted and enhance your casino to give them good feed back and responses to build your reputation.

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Quote from: ethereumhunter on April 05, 2023, 08:41:17 AM

The problem for a new casino is how they can introduce their casino to the public and attract the public to try to play in their casino. This depends on their marketing strategy as a new casino because if they can do it simultaneously, the casino will grow and get more people to play at the casino. For the first time, new casinos may find it difficult to compete with existing casinos because they are new ones that must attract people's attention. But if they can do a good promotion, the new casino can get more people playing at their establishment.

Just as you have said, bonus is an added advantage for a new casino to use in attracting traffic to their casino website which would boast their presence to the larger audience but I think it for not just stop there. As a new casino, you are just joining the league of casinos already existing and wanting to contend with them as to remain relevance you would have to go extra miles in addition or adding more values to your casino Services which other casinos do not have. This is am added advantage you would have to attract the crowd to your direction because of the extra Services rendered as gamblers always want to see something new in the space and try it to see how it feels a like.

Atleast this would help the new casino to stand the test of time in the space .

EarnOnVictor

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Of course, the casino business is becoming more competitive, hence the need for the new ones to have enough money to beat some of their competitors. This has to do with a very rigorous advertisement and promotion, or should I call it aggressive ones, and it needs a lot of money. Nonetheless, the advertisement should start even before the inception of the casinos, and this should go forward to the time it's introduced and afterwards to sustain it.

Aside from that, bonuses, perks and incentives in various categories should be considered. And of course, it should be better than the one in the prevailing market in terms of conditions and amount.

This should continue until the casinos get their stand, and they must add sincerity and integrity to their doings to keep their customers.

ethereumhunter

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The problem for a new casino is how they can introduce their casino to the public and attract the public to try to play in their casino. This depends on their marketing strategy as a new casino because if they can do it simultaneously, the casino will grow and get more people to play at the casino. For the first time, new casinos may find it difficult to compete with existing casinos because they are new ones that must attract people's attention. But if they can do a good promotion, the new casino can get more people playing at their establishment.

Russlenat

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The main factor behind the establishment of new casinos is budget. If a casino has enough budget and a solid business plan, they can take the necessary steps to develop their operations, including marketing and other expenses. However, it's important to balance the risks and be cautious, as the market is highly competitive. Slowly but surely can be a good strategy to avoid overspending and ensure long-term success.

Most new online casinos struggle at the beginning actually but as long as they know how to figure out the problem and solve it, they'll eventually be successful.

elevates

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Not all online casinos struggle. If a casino has a big kitty for marketing then it will survive as well as thrive in this competitive market. Most companies won't disclose their problem. If you think a closure of an online casino is related to competition. I would say you are wrong. There are many reasons behind it none of those closed casinos would reveal the truth for shutting down.

The casino business was always competitive regardless of whether them being online or offline. There is nothing unique! Every casino provides the same games that will result in the same outcome. I have never read any casino posting negative earnings. Think before posting such a topic.

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It depends on the initial state of the team. I mean if you have the funds for extravagant advertising, then why not? And with a proper advertising team, said costs would simply return itself by x times once the users come in. If you can't, well, slow and steady could also work, provided that the minimum income the casino receives is more than enough to handle the costs of it's running. Otherwise, it's only a matter of time before it dies down, like in your example.

This isn't to say that big casinos with money couldn't fail though, no. It simply means that their marketing strategy was a failure, and they didn't receive the feedback that they expected. Depending on how they plan this out initially, some casinos may have some fallbacks to rely on temporarily if they fail, while some just bulldoze ahead their way without any solid plan, so if it fails, well, they just die off. It's just like any other business imo.

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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?

When it comes to the growth of a casino i'd assume the slow pace would be the better option because there's no rush in growing their casino. Going all out with advertisements can be risky and their budget is better spent somewhere else if they can only advertise for a short amount of time.

Some of the new online casinos struggle because of the current competition specifically against the top casinos, it's not easy to convince new and old gamblers when there are better casinos available.

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Anytime you wanna create a new topic which is related to gambling in general, please create it in Gambling discussion board which is the more appropriate place for such topic.
You can remove this one there yourself but I have reported it as well to be moved there.

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

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

Advertisement is just part of marketing strategies, it is designed to make people aware about the existence of the casino.
Huge and long time advertisement will be useless if the casino is not providing the best offers and services for the customers.
All in on doing advertisement without any other promotions will just make them bankrupt faster.

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

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.

It is normal to struggle and all big casinos out there were struggling as well when they came to the industry for the first time, there is no instant achievement in any business including gambling business.
Ending advertising campaign does not mean that they are not doing fine, you cant generalize it because every business has their own advertising budget and preferences on what to do.

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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.

Both strategies will work both strategies or methods have their pros and cons, the most important is dedication and great support, words of mouth are very important if you can make gamblers feel that they are treated special and the casino has good management they will refer their friends here and they will give testimonials on how the casino they are playing, whether you started with huge marketing or take time to build up casinos should focus on reputation and support once they establish that and they have steady players they can opt to level up or continue their marketing.

len01

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for a new casino, in my opinion, it's better to do all the advertising from the start of the launch until this business is better known by the public out there.
because new casinos have a hard time getting big, usually because they can't compete with the old ones that are already popular, and if the new casinos are to be able to compete with the old casino business they have to at least be willing to spend more money developing, advertising and promoting to new customers who wish to register at a new casino.
at this stage, of course, the new casino will be recognized more quickly by new customers out there with all the promos that are attractive and different from the old casino. because usually gamblers are more interested in bonus promotions and if a new casino is able to provide a bonus promo that is different from other casinos that are already popular and more interesting to try, I don't think the new casino will have any struggle

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

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.

Because its hard to compete with other old reputable casino since once came out to the mind of the people is they shouldn't trust easily those casino which newly launch since chances that they are scam or either cannot deliver quality experience to them.

If they want to compete with those reputable old casino which is doing so fine here well they need to spend a lot of funds on marketing because from this they can convince people to try out the games they can offer to the public.

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Quote from: xSkylarx on April 05, 2023, 06:05:03 AM

Also, advertisements right now are very essential because most of your competitors are hiring celebrities and influencers just to make a name for themselves in the gambling industry, so you should do it too.

Do you think hiring celebrities and influencers are easy and cheap? they're have a lot followers which surely they have their own payrate and they know they must not promote a casino without reputation in order to minimize scam. It's require a lot money, even you're have a lot money you still need to wait until they accept it and they reviews your casino. It's not as easy as contact them on their email and they will accept it.

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