By rob eagar The growth in the iGaming world has driven people nuts as they try to find ways to make higher profits. A survey indicated that the world online gambling market was set to grow by leaps and bounds, reaching an approximate value of $153.57 billion by 2030.
Simultaneously, the rise of cryptocurrencies in gambling, with over $150 million worth of crypto-specific gambling currencies in circulation, is transforming the way players engage with casinos.
With this article, you’ll learn the top benefits of white label solutions present to crypto casinos and understand why this approach can give you a competitive edge in this fast-evolving gaming landscape.
Benefits of iGaming White Label Solutions
- Speed to Market and Reduced Complexity
Setting up a crypto casino from scratch can be very time-consuming, considering several stages of development, regulatory barriers, and the involvement of advanced technologies. At the same time, white label solutions already offer a platform ready to go so that operators can avoid much of that complexity.
Depending on the scope, project completion may take 12 to 18 months. In this respect, a label solution cuts that time by as much as 50%. It saves time and reduces operational headaches, which businesses can use to focus on marketing and acquiring players rather than technical development.
Most crypto iGaming white label solutions provide either ready-to-use templates or back-end systems, where setup is minimal. In that respect, operators can speedily tailor the platform to their branding and content needs while knowing other aspects like security, compliance, and scalability are all taken care of.
2- Cost Efficiency
Comparing the financial investment that is necessary for building a custom crypto casino from scratch to using a white label solution, cost savings can indeed be substantial. When you go with custom development, that normally presupposes hiring a team of developers, designers, lawyers, and/or regulatory consultants. And quite naturally, the costs tend to soar into the hundreds of thousands of dollars quickly.
White label solutions provide an all-in-one platform drastically reducing upfront and ongoing expenses in key areas.
- Development Costs: Creating custom crypto casino software requires considerable time and resources. Industry estimates say a workable crypto casino may cost between $200,000 and $500,000. White label solutions, on the other hand, reduce this cost by as much as 70%.
- Licensing and Compliance Costs: Compliance with the legal environment concerning online gambling and crypto is problematic and costly. A custom-built platform requires ongoing legal consultations and expensive compliance software to meet international regulations. White label providers, by contrast, often now have built-in, major-market compliance support that drastically reduces the legal and regulatory overhead.
- Technology Maintenance and Updates: Planning for updates to keep the custom-built platform with the latest trends in technology and security will also be quite costly. In White Label solutions, updates and technical maintenance are included, which will keep the platform secure and functional without the operator constantly needing to reinvest in it. The fact alone is worth thousands of dollars in annual maintenance cost savings and keeps the operator from experiencing expensive downtime due to outdated software.
3- Advanced Tech and Innovation
White label crypto casino platforms power the latest technology to integrate blockchains for higher security and complete transparency. All transactions are recorded securely in blockchains, which also verify them, hence gaining the trust of players. White label crypto casino platforms boast powerful technological features that can enhance user experience and make the operations of the operators extremely easy.
Multi-currency Wallets: Players can choose self-preferred digital assets like Bitcoin, Ethereum, and Litecoin on one platform. The flexibility here appeals to an international audience, widening the potential market reach for any given operator.
Instant transactions: Blockchain technology reduces the time of deposit and withdrawal of transactions to a couple of minutes, ensuring that transaction speed is faster and cheaper without any intermediary.
Probably Fair Gaming: It refers to using cryptographic techniques within many games so that players can ensure that every issued bet is pretty created. This instils confidence among players by assuring them that games are rigged.
Mobile Optimization: Most platforms have mobile optimization, meaning their games will run seamlessly on smartphones or tablets, catering to the growing demand for mobile gaming. They represent a very popular choice for crypto casino operators due to their perfect blend of advanced tech, ease of use, and scalability.
4- Regulatory Compliance Made Easy
White label providers make this genuinely complicated process of licensing and compliance with regulations easier by offering prepackaged solutions for various jurisdictions. From making the platform compliant with local regulations to adding tools like KYC and AML for crypto transactions, they operate the full cycle of the licensure process. It helps the operator avoid very significant fines and other legal consequences.
Knowing your way around international compliance is expensive and absorbs much time. Independent studies show that regulatory breaches could cost a business millions in fines. White label solutions mitigate these risks by handling all compliance aspects, allowing operators to focus on growing their business.
5- Scalable Growth and Market Adaptability
White label solutions offer the flexibility and scalability needed for growing crypto casinos. The platforms’ structure can handle growing traffic, adding new features, and changing business needs as a casino’s player base grows. Because of cloud-based infrastructure, white-label solutions automatically scale up once the number of users and games increases without any technical disruption.
These platforms also allow operators to easily integrate new payment methods, such as emerging cryptocurrencies, as the market develops and regulations adapt. The nature of white label solutions is to be customizable and easily adaptable to new regions or market demands.
Read also:- crypto iGaming solution providers
Concluding Thoughts
Crypto iGaming white label Solutions save operators time by allowing them to tap into the crypto casino market ASAP. Such solutions will minimize development and operational overhead by being installed with advanced technology such as blockchain integrations, multi-currency wallets, and provably fair gaming. White label igaming solutions also let you scale up and down according to your business development, blending in all the latest market trends and demands.
With iGaming crypto solutions, operators will be enabled to devote all their efforts to growing their player database and enhancing gaming experiences while the complexities of development, compliance, and maintenance fall within the competence of a platform service provider.