The platform is a foundation. It impacts game diversity, quality, and scalability and directly influences the competitiveness of the business, allowing seamless integration of new games and features as the company expands. A well-designed and responsive platform enhances user engagement, fosters loyalty, and accommodates the growing mobile gaming trend.
But, considering the iGaming industry specifics, a partnership with the platform provider could be a pig in a poke. With Arthur Ashyrov, CR8 Tech’s CTO, let's figure out what to look for when picking the right platform provider for your business.
Setting Up Your Business Needs
Defining your business needs is essential before even searching for an iGaming platform provider. Consider your target audience, the types of games you want to offer, and your long-term goals. Are you looking for a platform specializing in sports betting or offering a wide range of casino games? Understanding your business requirements will help you narrow your options and find a platform provider that aligns with your vision.
Consider the games you want to offer on your platform. Are you interested in traditional casino games like poker, blackjack, and roulette? Or do you want to focus on innovative and immersive virtual reality experiences? By determining the types of games you want to provide, you can better evaluate platform providers that offer the necessary software and technology.
Remembering your long-term goals when defining your business needs is also important. Where do you envision your iGaming platform in the next five or ten years? Do you plan to expand into new markets or introduce new features and functionalities? By clarifying your long-term goals, you can select a platform provider that meets your current needs and has the scalability and flexibility to support your future growth and development.
Additionally, think about the specific features you require. Do you need a platform that supports live casino games, allowing players to interact with real dealers in real time? Or do you prioritize seamless integration with other iGaming software solutions, such as customer relationship management (CRM) systems or payment gateways? Clearly outlining your needs regarding features and integrations will ensure you choose a platform provider to meet your unique demands and provide a seamless user experience.
Tech capabilities and features
Assessing the technology capabilities of the platform providers you are considering is crucial to ensure a smooth and efficient operation. But what exactly should you be looking for in terms of technology capabilities?
Scalability
As your player base expands and your operations become more complex, you need a platform to handle the increased demands. Scalability ensures that your platform can accommodate higher traffic, more extensive databases, and additional features without compromising performance or user experience.
Typically, market-wide platform providers present scalability as an assurance as your business expands, and verifying this during negotiations can be challenging. In the operational phase, the product might manifest glitches or experience complete shutdowns, leading to financial setbacks. Assessing the provider's overarching engineering culture can serve as an early indicator to identify such risks in the initial stages of the partnership.
For instance, commencing with an inquiry into the software development lifecycle can shed light on the various stages the product undergoes, the testing protocols, and deployment procedures. This inquiry can unveil critical aspects; for instance, if the provider lacks load testing or a comprehensive scenario database for testing, it signals potential risks and their repercussions on your end. Similarly, probing into the system's overall stability and soliciting metrics such as uptime, response time, transaction success rate, error rates, security incidents, and bug fix turnaround time can provide a comprehensive understanding of the platform's robustness.
Moreover, the value of scalability is not only about business growth but also about the consequences if the current platform cannot cope with the load. The most painful process with limitations in scalability is forced migration to a new platform. Migration is always a labor-intensive process, accompanied by an outflow of users, downtime, and business losses.
Quality of Technical Documentation
The quality of technical documentation is an important aspect that reflects the provider's overall engineering approach, as mentioned earlier. It's essential to assess how well the technical documentation is structured and detailed to understand the complexity of the product and how quickly you can get up and running with the platform. For instance, providers with advanced iGaming solutions might offer both endpoints and APIs, along with the option for customized development on their end based on your needs. On the other hand, some providers may focus solely on providing APIs, requiring you to invest resources in coding on your end.
💡 Good sign
Typically, trustworthy providers are willing to communicate openly, share documentation, or actively participate in open-source repositories.
Pre-built Solutions for Development Efficiency
From a technological standpoint, it's essential to consider the availability of pre-built tools to streamline development efforts on your end. Competent providers often offer ready-made Software Development Kits (SDKs). By utilizing the SDK, the integration process becomes more accessible for the development team on the operator side. Its power lies in streamlining the process, ensuring efficient and effective results.
An additional noteworthy feature is the capability to customize the front end of products using pre-built blocks without the need for developer involvement. If you can economize on development without compromising product quality, it's a prudent choice. Beyond the feature itself, minimizing development efforts signals an advanced approach to iGaming solution development.
Data Accessibility
The reliability and proficiency of a provider are also reflected in its provision of access interfaces to your data. Some providers only allow downloads upon an official request via email, but this approach is becoming outdated.
Leading-edge providers recognize the significance of data availability for making data-driven decisions and offer the capability to obtain and analyze data in a format convenient for the operator’s team. This transparency signifies an evolved culture of Data Democratization—an initiative enabling operators, regardless of their technical expertise, to seamlessly work with data, speak confidently about it, and, consequently, make informed decisions and shape customer experiences driven by data.
💡 Good sign
The presence of engineers during presale and other negotiation stages is a positive indicator. It signifies that the provider is unafraid to showcase its specialists, demonstrating confidence in their competence.
Technical Team Accessibility
Another hallmark of product excellence is the accessibility of the technical team for consultations. This can be assessed by posing clarifying questions about the technical documentation. If you receive a response within a week or two, it suggests that the provider may lack a fully dedicated resource for such inquiries. Consequently, the response time may be even more prolonged when faced with actual operational issues.
Focus on Mobile
In recent years, numerous providers predicted a substantial surge in the AR/VR trend. However, current analytics indicate that these technologies have not yet gained widespread adoption.
Contrastingly, the mobile gambling landscape tells a different story. This trend has witnessed consistent and substantial growth year after year, showing no signs of abating. Mobile optimization stands as a pivotal element for a technologically advanced platform, encompassing responsive design, swift loading times, and intuitive navigation.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Prioritizing Innovation
When evaluating platform providers, it is essential to consider their dedication to new trends. The iGaming industry constantly evolves, and technology plays a significant role in its growth. By partnering with a provider investing in research and development, you can ensure that your platform will always be equipped with the latest features and advancements to help you compete for players' attention.
Game Variety and Quality
Casino software is not enough. The success of an iGaming platform largely depends on the selection of games offered. Players constantly seek new and exciting experiences, and a diverse game portfolio is crucial for attracting and retaining them.
When evaluating the game variety, it is vital to consider the different genres and themes available. A well-rounded platform should offer a mix of classic casino games such as blackjack, roulette, and poker and a wide range of slot games with various themes like adventure, fantasy, and mythology. This ensures that players with different preferences can find something that suits their tastes.
Furthermore, it is essential to assess the quality of the games provided. Are they well-known and respected in the industry? Established game providers with a solid reputation often deliver high-quality games that are visually appealing, immersive, and feature-rich. These games provide entertainment and enhance the overall gaming experience for players.
For example, GR8 Casino offers a vast collection of games from over 175 time-proven vendors, including AAA+. Plus, with open API integration, you can easily expand your game portfolio to meet players' demand for new games.
Another aspect to consider is the availability of popular titles. Games with a significant following and a loyal fan base can attract players to your platform. These titles often come with exciting features, bonus rounds, and progressive jackpots, which can add an extra layer of thrill to the gaming experience.
Payments, Security, and Risk Management
Payment processing is critical to any iGaming platform. Ensure the platform supports various payment methods to cater to your target audience. Additionally, prioritize security measures to safeguard player data and financial transactions.
Look for iGaming providers that offer advanced encryption technology and comply with industry standards, such as PCI DSS, ISO, and GDPR. These certifications underline the commitment to upholding best practices and highlight a proactive and consistent approach to strengthening business operations.
In the dynamic landscape of online casinos, security remains a paramount concern, with fraud, bonus abuse, and vulnerabilities posing significant financial risks for operators. The iGaming sphere is ever-evolving, keeping pace with technological advancements and the growing sophistication of scammers and hackers. Ensuring robust security measures, including AI-driven fraud prevention and bonus management tools, is critical in safeguarding your platform. A comprehensive solution from your iGaming software provider should encompass features such as:
- Jackpot hunting detection
- Real-time bonus abuse detection
- Smart personal player limitations
- AI-driven behavioral prediction patterns
- Dynamic player segmentation
- Anti-money laundering system
- Real-time alerting
While the power of AI is undeniable, it's equally important to prioritize user-friendly interfaces for your staff. The software should boast a simple, intuitive UI/UX, facilitating a smooth learning curve and seamless operational efficiency.
Costs and Revenue-Sharing Models
While selecting an iGaming platform provider, it is crucial to evaluate the costs involved and the revenue-sharing models offered. The fees charged by iGaming providers can vary significantly, so ensure you clearly understand the pricing structure and any additional costs involved. Additionally, consider the revenue-sharing models offered by the providers. Finding a balance between cost-effectiveness and revenue sharing ensures your business remains profitable while fostering a mutually beneficial partnership with the platform provider.
Furthermore, a trustworthy provider may establish defined metrics for service provision, such as uptime, and may even offer discounts if the performance indicators fall below the specified benchmarks. These predefined conditions signify that the provider is concerned about the trajectory of your business and is committed to delivering results.
Licensing and Compliance
Operating in the iGaming industry requires adherence to strict regulations and licensing requirements. Choosing a platform provider with licenses from respected jurisdictions ensures your business operates legally and provides a safe and secure environment for your players. Verify the licenses held by the platform providers you are considering and ensure they comply with regulatory standards. Partnering with a licensed provider adds credibility to your brand and builds trust among players, ultimately leading to higher engagement and revenue.
The regulatory landscape constantly evolves, introducing new laws and regulations to gather taxes and ensure fair play. By ignoring licensing and compliance, you not only put your business at risk of legal repercussions but also compromise the trust and safety of your players.
When considering potential iGaming platform providers, thoroughly verifying their licenses is essential. Look for licenses from reputable jurisdictions known for stringent regulations, such as the United Kingdom Gambling Commission, the Malta Gaming Authority, or the Isle of Man Gambling Supervision Commission. These regulatory bodies have established themselves as leaders in the industry, ensuring that license holders adhere to strict guidelines and maintain high standards of operation.
Compliance with regulatory standards goes hand in hand with licensing. It involves implementing robust systems and processes to ensure your iGaming platform operates fairly and transparently. Compliance measures may include conducting regular audits, implementing responsible gambling tools, and employing advanced security measures to protect player data.
By partnering with a licensed provider that prioritizes compliance, you mitigate the risk of legal issues and enhance your brand's credibility. Players are more likely to trust and engage with iGaming platforms that operate within the bounds of the law and prioritize their safety. This trust translates into increased player retention, higher engagement levels, and more significant revenue for your business.
Reviews, Reputation, and Case Studies
Before finalizing your choice:
- Delve into the reputation and credibility of the platform providers you are considering.
- Check online reviews, testimonials, and case studies to gauge the experiences of other operators who have partnered with them.
- Look for providers with a proven track record of delivering high-quality services, excellent customer support, and responsiveness.
- Consider reaching out to other operators in the industry for recommendations and insights.
Making an informed decision based on the experiences of others will increase the likelihood of a successful partnership.
Also, subscribe to iGaming news outlets and participate in major industry events like ICE, iGB Live, SBC, and SiGMA. You can talk to company representatives at these events, review their showcases, and make assumptions about provider performance.
The Finish Line
Selecting the iGaming software platform is a strategic decision that can make or break your business. The platform's impact on game diversity, quality, scalability, and competitiveness is crucial for seamless expansion and feature integration as your company grows. To make a well-informed decision, you need to evaluate the provider's commitment to technological excellence, scalability, transparency, and game variety.
Additionally, reviewing online feedback testimonials and engaging with industry events further solidifies your decision-making process, paving the way for a successful and enduring collaboration. Don't settle for less than the best iGaming platform provider; it can be the key to your business's success.
