Online betting platforms are having the upper hand in the gambling market. From sportsbooks to online casinos, there are now lots of platforms offering gambling services online.
But what is the future of offline or land-based casinos? Can they still measure up to standards, and if so, how can you start one?
In this article, we cover the processes involved in starting a land-based betting business. A comparison between the land-based and online-based casinos is also made so you can decide on which of them guarantees more returns on investment.
Do Land-Based Betting Platforms Stand a Chance?
Can you still make profits from a land-based or offline betting platform? Yes, you can! Despite the popularity of online casinos and the availability of mobile games, the offline variant is still very much active.
In an offline betting platform, you get to watch the action unfold, make near-accurate betting decisions, and mingle with other punters to share ideas. So, the fun and the relevance are not going away anytime soon.
How to Create an Offline Betting Platform
If you must succeed as an offline betting platform operator amid the growing competition, here are the steps you must take:
1. Decide on a Location
Since the betting business will be physical, you want to make sure that you are locating it where it will attract punters. It can be a tough decision-making process because you are not only concerned about the dominance of punters in that location. You are also looking to be in the good books of the authorities.
We advise that you choose a location for the land-based betting business by:
- Confirming the legality of operating a land-based betting business in the jurisdiction.
- Finding out the types of licenses and legal coverages you need before setting up the business.
- Taking note of the demographics, such as the age bracket of the targeted punters, their income levels, and their expertise.
2. Draw up a Business Plan
Your business plan is a blueprint or overview of the strategic steps or moves you will take to establish and run your offline betting business.
An ideal business plan should include:
The Market Size
How big is the market and how willing are the punters to try out a new betting platform?
Your Budget
It should be realistic and must cover the important expenses to be made, as well as the miscellaneous expenses.
Competitive Advantage
What services are you offering to beat the existing services offered by other offline betting platforms?
3. Collaborate with Software Developer
The games and other forms of entertaining content need to be encoded into software. This is where the services of a retail betting software developer are required. You are to collaborate with the software provider to ensure that the game content is in line with the needs of the different segments of users.
Ideally, you want to partner with a retail betting software provider that is:
- Experienced in offline betting software development.
- Ready to offer customized options to make your game content different from that of your competitors.
- Willing to work with your budget or be flexible in terms of pricing.
4. Choose the Game Content Wisely
The next thing you want to do is to consider the type of game content to offer. The game content should offer the best of both worlds – excellent gameplay for offline punters and stunning graphics for punters who must have played some online games.
Here are some other important factors to consider when choosing the game content for your land-based betting business:
- Offer traditional game varieties, such as table games.
- Offer a variety of games, as this gives the players lots of options to pick from.
- Cutting-edge animation and sophisticated visual effects should also be integrated into the games.
5. Get More Payment Gateway Partners
One of the advantages of betting at a land-based betting platform is the multiple payment options. You can pay in cash or by credit card.
Therefore, it is wise to be flexible with your payment methods. As a rule of thumb, partner with several payment gateway platforms. Using a cashier is also a great idea, as this allows the punters to pay in cash and the equivalent would be credited to their betting accounts.
6. Turn it into a Casino-Themed Environment
Land-based betting platforms would still be relevant because of the flexible integrations of technologies.
As an entrepreneur looking to start one of these platforms, it is pertinent that you create that “casino-theme environment.” By this, we mean:
- Installing flashy lights
- Using expensive, but fascinating items for the interior.
- Being strategic with the placements of the slot machines.
- Having some speakers in the background that give some jams.
7. Invest Heavily in Marketing
Nobody would know you have something going on if you don’t talk about it. This is why it is important to invest a lot of money and time into strategic marketing.
You can use several marketing channels like:
- Putting visual ads on blogs.
- Publishing promotional flyers.
- Consider creating a learning center where new and existing customers would be taken through the processes of wagering on their favorite games.
- Don’t forget to give bonuses to new players and promotions to existing punters. This encourages them to keep patronizing your land-based betting business.
Final Words
Starting a land-based betting business is still advisable, considering that some game lovers still prefer that offline vibe. The steps above will help you set everything in place, when you are ready to start.