Online casino concept. Laptop with roulette, slot machine, casino chips and playing cards isolated on black background. 3d illustration
Online casinos generate $70 billion every year according to research firm Statista. This is more money than Hollywood and the music industry makes. In the next five years, iGaming will be generating $100 billion annually.
This is a lot of money. And it doesn’t have to end in the hands of casino owners. You can take a small slice of the casino pie if you’re an investor or skilled in certain areas.
Below are seven ways to generate money from the iGaming sector:
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#1: Become an Affiliate Marketer for Online Casinos
Affiliate marketing is a simple concept. You market a casino to your friends and social media fans. If one of them joins the online casino and makes a deposit, you get paid.
Casinos have streamlined the affiliate marketing process to make it profitable for everyone willing to invest in it. Each casino gives you a unique affiliate link to share with your friends.
This link helps protect your work. Casinos can easily identify customers you recommended to them. At the best casinos, you receive $50 to $200 for each customer you refer.
If you market a brand well enough and it receives 50 new customers in a month, you’re guaranteed to receive a minimum of $2500. If you market a dozen casinos, your income could grow to $10,000 or more.
That said, affiliate marketing is easier said than done. You must learn how to market your website to attract visitors. You might also need to grow your social media presence. Both of these fetes require hard work and patience.
#2: Become a Software Provider
Most casinos lease games from third-party software providers. The biggest names in the industry include NetEnt, Microgaming, RTG, Betsoft, and Evolution. These brands have been around for many years.
But that doesn’t mean there’s no room for new studios. If you have a passion for creating web-based games, learn how to create slots and table games. Test your skills by availing your games on Google and Apple Play stores.
If the market welcomes your slot creations positively, approach real money casinos. Lease your games to them. Keep in mind you might need a license to supply real money games in countries like the UK, Malta, the US, and Canada.
Software creation is incredibly competitive, so find a way to stand out from your competitors. Borrow ideas from your competitors by visiting NetEnt, BTG, Playtech, and RTG casinos. Check their best-rated games.
What do these slots share? Usually, fan-favorite slots have beautiful graphics, high payouts, and interesting features. Create unique slots with exciting features, and you’ll probably win over some casinos.
#3: Work for an Online Casino
New online casinos keep cropping up. Many of these businesses require employees. They need programmers to keep their websites and apps working efficiently.
They require accountants to handle finances, marketers, communication experts, managers, and security experts. If you have a skill required by iGaming businesses, apply for a job.
Malta, Gibraltar, London, Ontario, and Curacao are some of the best destinations for online casino jobs. Beware gambling sites hire only the most talented people. If you aren’t good at what you do, you’ll struggle to find work in the industry.
Consider working as a freelancer to work from home. Let’s say you’re a good marketer. You could market casinos and earn through affiliate links as we mentioned earlier.
As a programmer, you could create bots to help casinos improve their customer service departments. Another idea is to start a consultancy business. Help investors navigate the murky waters of starting a gambling business. And you could get paid well for your knowledge.
#4: Play Casino Games
Playing casino games isn’t meant to replace your day job. It’s a fun activity designed to help you kill time on a boring Sunday afternoon. But you can also win money.
With slots, you win when certain symbols appear on the reels. Some slots have multipliers that magnify your winnings. Others have clusters that stack up your winnings for several rounds.
Table games like blackjack and poker are much harder to win. But if you learn proper strategies, you can win consistently. In poker, you can participate in high-paying tournaments.
But don’t be mistaken. Winning high-level poker competitions is incredibly hard. You need lots of skills and years of experience to even qualify for a competition like the World Series of Poker.
As mentioned, though, gambling isn’t exactly a business idea. You shouldn’t quit your job to pursue casino games. You can play slots for entertainment. But if you want to make money from online casinos, try marketing or find a job.
#5: Become a Payment Provider
Online casinos require payment providers to help players deposit and withdraw money. If you own a payment app, market it to different casino sites. Ensure you have a unique selling point to improve your chances of success.
Maybe you own a mobile wallet with a growing fan base in Australia and New Zealand. Market it to online casinos that target these two countries. Perhaps you have a payment gateway for crypto users.
Approach online casinos that don’t accept Bitcoin yet. Explain how accepting crypto could benefit their brand. Hint, Crypto has millions of fans. It’s decentralized, safe, and can be a good investment.
#6: Become a Casino Influencer
We live in an age of influencer marketing. Every industry has influencers that make money by promoting different brands. Online casinos are not different. Think about Daniel Negreanu, Phil Ivey and Phil Hellmuth.
These are not just popular poker players. They’re influencers who make a lot of money by promoting different poker sites. Now, you might not be a highly skilled poker player.
But you could become YouTube or Twitch famous by streaming casino content. Once you gain a solid audience, you can make money by promoting specific casinos. Additionally, you can make money through subscriptions, ads, and affiliate marketing.
If you’re camera shy, build your brand on social media or through blogging. Then find a way to monetize your platform.
The post 6 Great Ideas to Make Money from Online Casinos appeared first on Entrepreneurship Life.
