Betinvest, the leading provider of top-quality ready-made solutions with customisable options and reliable risk management, has bolstered its remit to help iGaming operators invest in success by creating a concise, clear guide on creating a white label gambling company. Valentyn Kyrylenko, the company’s VP of Business Development, explains the lucrative nature of turn-key operations, the power of working with an established provider and why your white label betting business starts here.
The nature of online gambling has seen more and more new companies enter the market in recent years with white label gambling companies, those created by one company and rebranded/used by another, becoming a popular method of launching a new brand out without the trouble of creating the software and jumping through the countless hoops required of modern gambling sites. Betinvest believes white label businesses are the next logical step for the sector and through its 20 years of expertise the company is aiming to help others stand out from the crowd.
“The online gambling sector is very busy and it can be hard to get noticed, but the beauty of this sector is that most players are happy to move around, never truly staying loyal to a single brand and always willing to see what the competition has to offer,” explained Valentyn.
Commenting on the importance of choosing the right providers at an early stage, he said: “The first step to creating your own white label gambling business is to acquire the software on which your customers will place their bets. There are a number of providers out there and each of these will provide you with a varying level of support, functionality and customisation.
“These providers do all the work when it comes to acquiring video slots, table games and betting software. They work with developers like NetEnt, IGT, Play’n GO, Evolution Gaming and more to create a long list of games.
Companies initiating a white label business can choose the providers and the games to list on their specific platform from thousands of companies, all with multiple pre-packaged options to make this selection process easier.
With every stage of starting up a white label gambling business, Betinvest believes that working with an established provider forms the backbone of smart and stress free setup.
Highlighting the necessity of license acquisition, Kyrylenko continued: “Getting a license for your chosen market can be one of the most time consuming and stressful aspects of running an online gambling company, but a good provider can take the hassle out of this situation. They will provide you with the option to use their licenses, which will cover you for the markets that they are regulated in. If needed, you can then look to acquire additional licenses in markets that you plan to expand into, but in many cases the provider will have more than enough coverage to satisfy your needs. They will also look to handle all of the issues that go along with managing these licenses, including tax calculations and regulatory changes.”
Working with providers can also be instrumental in tapping into emerging markets by establishing simpler payment methods across multiple currencies in many different languages and across many different countries. Kyrylenko explained: “A provider will give you easy access to a number of different payment methods and allow you to accept all of these in one fell-sweep. These will include the most popular methods for your chosen markets, as well as the security and the insurance needed to accept the methods safely and securely across your website.”
The final steps in completing a white label operation are to customise the website and take the new company to market. For Valentyn Kyrylenko, the power of the provider is essential at this stage to ensure originality and reliability for your staff and most importantly, for players. “With a new website, it’s important to avoid your site looking like every other one out there,” they said. “You may find it beneficial to work with a team of developers who can craft something truly unique using a provider’s software. This way your website stands out from the crowd and doesn’t look like a cookie-cutter project.
“Once you have your project ready to go then you simply need to launch it, monitor it, and market it. The ongoing maintenance of a white label company will require you to staff a customer support team, many of these now operate remotely through Live Chat in order to save money, and to start promoting. There are a wealth of review sites and news sites that will instantly feature regulated bookmakers as soon as they launch, providing them with some much needed publicity in the early days and helping them to get a jump start in this emerging and exciting sector.”