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How Do Online Casinos avoid Bankruptcy in 2021?

In the modern gambling environment, it seems to be safe to run a casino. Mostly they think that the players are at risk, not the owners. But the truth is that casino owners can easily fail and, as a result, close the casino. In this article, we will tell you about six points that European (New Zealand) casinos need to consider in order to avoid bankruptcy.

To run a gambling business, you need to be aware of all numbers and indicators.

There is an impressive list of key indicators (KPI) that will allow the owner to monitor the processes. Therefore, they analyze them in order to understand if there is a profit from the casino or if it is moving towards bankruptcy.

Two metrics that will give you an overview of the state-of-the-art are GGR (Gross Gaming Revenue) and NGR (Net Gaming Revenue). These numbers will show how much the casino received from the gambling activity before deduction of expenses.

If this data does not make you happy, you should analyze other factors. Rates to deposits and NGR to deposits will give a clear view of what percentage of the deposit players used to make bets and how much they lose. It is also necessary to collect information on the number of conversions, the percentage of retention and departure of players. Also check the number of active users per month and per day, the value of the user, and the average amount of income from the player.

Key indicators (KPI) for online casinos

Every online casino needs benchmarks to measure progress. KPIs (Key Performance Indicators), also called key performance indicators, can help in this.

If you carefully analyze all the important points, then you can find the gap and have time to eliminate it.

Ultimately, whether a business is successful or not depends on the owner’s ability to find a balance between profit and cost.

Gambling experts list six principles below that casino managers must apply in order to avoid the danger of online casino bankruptcy.

1. Make your players love you

In such a highly competitive industry, only those businesses survive that know how to attract and keep a pool of players and motivate them to come back to the site. Generally, this is not an easy task.

It is unlikely that users will change the casino’s site to a competitor if their favorite site increases value to them over time. In order to achieve this, usually, casinos introduce top online casino promotions, VIP programs, and loyalty privileges.

At the time users become members of loyalty programs, each new deposit, spin, and bet helps them to increase to a new VIP level. In case players make larger deposits, casinos offer them additional rewards and provide personalized customer support.

When casinos spend more time and money on each user, players less likely to leave it to another place. After all, there is no point to start everything in another casino from scratch, if you already invested a lot of money to grow the status and loyalty level.

2. Move faster than the competitors

The number of casino lovers, their age, preferences, as well as their tastes can change over time. When casinos choose the games for their site, the operator should think ahead about what will be popular in the future, and what players will like.

Everybody is aware of the classic games that are always in demand among millions of players. There is a reason for software providers to use fruit slots everywhere: they have always existed and there will always be players who will prefer them to any new products.
This is why almost every game developer in the industry of gambling games has a fruit theme in their lineup. They have slightly different games, for example, due to the additional elements and features.

They also create storylines that are popular among foreign fans of slots. Usually, the stories are based on mythology, which opens the opportunity to do experiments. Basically, slot creators compete with each other about who will make a game about Egyptian gods or Vikings more tempting and interesting. However, bananas and ancient Greek hieroglyphs are not for everyone.

The audience needs something more innovative. The main task of software developers is to regularly monitor this area on signs of new fire novelties from competitors. It’s important to identify the player’s wishes faster than other developers. Slots are surely the first thing to turn a glance at, but, in addition, new types of entertainment appear. These are shooters, a mixture of slots and wheel of luck, original lotteries, innovative ways to broadcast with live dealers, and new solutions for table games. The list of innovations expands daily.

A new trend is cryptocurrency gambling. 

New trends in sports betting will appear as well. Operators with the ability to bet on virtual sports are taking the lead. Those who offer only sports betting, and do not pay attention to Esports events will lose the competition. To stay competitive, you always have to plan the future and offer users the most relevant and interesting content, something that will keep players engaged for a long time.

Companies that cannot follow the trends, or be the innovators and push the industry, will lose all the audience, not knowing what has happened.

3. Strictly follow the license terms

If a casino loses the license, it may ruin the entire business.

Operating without a license can have serious consequences, such as the loss of access to the target audience, and the loss of trust from loyal players. To prevent such an outcome, casinos must follow the local government conditions, including conditions regarding advertising and marketing policies. They should pay special attention to the KYL and AML policies, and introduce a strict but fast verification process.

Gambling Authorities pay particular attention to casinos’ customer support, how they can handle complaints and meet technical requirements.

In this problematic area, the operators should be proactive in all cases, and try to meet the expectations of the regulator. Necessarily, businesses should act responsibly, notice all changes in the jurisdiction under which they operate.

4. Start working in reliable jurisdictions and only then enter risky markets

It is very important for casinos to comply with the regulatory policies of the jurisdiction. But this can be difficult, due to unstable political and economic situations. We’ve seen the cases when governments suddenly began auditing casinos and charged huge amounts of taxes.

Therefore, in the beginning, the casino needs to gain a stable position in a reliable jurisdiction and only then move towards more profitable markets.

You need to thoroughly study the market and only after a deep analysis decide whether to enter it or not. Look at the background of the jurisdiction, and if history informs that requirements suddenly changed without any warning, most likely they would be rather unstable.

5. Monitor your bonus policy carefully

Bonuses are the main means of attraction of new users. Therefore, they register and play on the site for a long time. Bonuses are very beneficial since you can test games on a casino website without your own investments, as well as evaluate the advantages of the casinos in general and not risk large sums. For this, check out the $1 deposit online casino NZ.

Take into account that the bonus is not a free game, but just an opportunity to pre-evaluate the casino. We do not recommend you to take bonuses as free money.

There are many violators of the bonus policy. Bonus hunters are exploring gambling sites and looking for casinos where they can find gaps in the bonus policy.

The worst-case scenario is when users find out about loopholes and share this information on gambling forums with everyone who is interested. There were moments when online casinos lost several million because of such an activity.

To prevent users from using bonuses in this way, casinos must state very strict rules and conditions. Bonuses must depend on the wager, that is, players must play with the bonus amount several times before they can access the withdrawal of funds. Casinos also can set a condition that gives the user the right to withdraw only the winnings, but not the amount received as a bonus.

6. Set up smart marketing

Make sure to control the marketing costs. In order not to throw money in the garbage you need to form a perfect marketing strategy, including, for example, cooperation with affiliates.

Performance marketing allows you to make sure that casino payments are made only if there is a high-quality conversion. Affiliate services that bring traffic to the platform receive payment only after the player’s registration and deposit. You will clearly understand whether it makes sense to continue working with specific partners.

However, it does not mean that casinos need to register in all affiliate programs. This will only lead to the fact that you have to send to partners impressive money transfers.

7. Constantly add quality games to your portfolio

New Zealand players mostly launch casino games for the boost of emotions. If the casino doesn’t give them what they want, they will leave. If there is always something to play, players will always return.

Therefore, casino owners need to make sure that players always find what they want. For instance, the operator must integrate top-quality, diverse content from the top suppliers in the industry. Don’t forget to include software providers such as Microgaming, NetEnt, Play’n Go, Evolution Gaming, Yggdrasil.

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FAQ

his platform provides a variety of features that you will like for sure. Royal Vegas was launched in 2000 and gained a reputable casino with Microgaming software. Moreover, you are able to download it or play in the browser even on a mobile phone. Basically, the casino is easy to play on the site RoyalVegas.eu. There you can receive a bonus up to 1200$ + free spins. In fact, you can read a full review on RoyalVegas on our site and find out about everything you need. As I told earlier, the games are provided by Microgaming, and include video-poker, slots, progressive jackpots and live games with real dealers. In the live section, you can play Baccarat, Roulette, Blackjack and others.
Can you imagine, there are generous loyalty bonuses for regular players. Furthermore, there is a multilevel system of previligious. From silver to diamond, you are able to get benefits such as, monthly prizes, faster payouts, private events and so on.

Conclusion

As you can see, Royal Vegas is a legit casino with great intention toward clients. You are able to play it on the official website and meet an enormous amounts

House is a winner?

Every gambler plays for a big win, or at least break even. How is it possible to win in an online casino if the only winner is the house? As you remember, there is a saying ‘House always wins’. It’s about the casinos that are always in advantage, no matter how much a player wins. So, this is the problem: are there real winners at gambling sites?

To tell the truth, yes, online gamblers take winnings, small or large. Of course, most winnings are equal to the total amount of the deposited money. So, basically, you return what you give. But sometimes stars align and a person gets a big win. For the proof, there are even bloggers like Captain Davo who is an experienced but addicted gambler. He shoots the videos for youtube where he shows his high-rolling results of casino games. Though he also deposits and bets a big sum, not like $20.

Apart from bloggers, you surely have seen a lot of comments from real players. Some of them are positive saying that they won a great fortune. And others are negative or neutral. So to speak, if people didn’t win anything on online casinos, there wouldn’t be such sites at all. Nevertheless, it’s advisable to play responsibly and try to prevent addictive signs. By responsible gaming I mean following the tips regarding the winning strategy.

If you are a frequent player, you might have already noticed some facts about games. Anyway, I wish to tell you some of the main things to keep in mind. They will stop you from getting addicted and, along with this, bring you wins.

  • Stop playing on time. It’s vital to know when to stop the game. During the gameplay, you may notice that you are losing with every following spin. As a rule, after the losing track comes the moment of glory. It’s the repetitive winning rounds. As soon as you’ve noticed the increase, raise your bet and spin until you make a profit over your initial balance. After the first losing spin, stop the game, quit. Go to withdraw.
  • Don’t buy into casino tricks. I know that after such a success you think that there will be more ahead. But no. Online casinos make things up so you could spin again and again. The process described above about success and failures repeats continually. In the end, you will just quit the game with more losses. So, don’t buy into these tricks. Stop at the right time and rest out with your winning.

Conclusion

All in all, if anyone wins on online casinos, he or she is using the strategy and knows when to stop. All the professional gamblers can be addicted to games, but still they know how to take the right risks. Try different strategies and winning tips, so you can be the guy who wins in online casinos.

The issue of payout always arouses many questions among players. Probably, the reason for this mistrust of online casinos is elicited by the bad experience with fraudulent casinos. In fact, many people face fake casinos on the internet. They deposit, play but never get anything back. Or some players might have a bad experience with real casinos. Such a problem as no-paying-out because you violated the casino terms.

Why it doesn’t pay back?

If we don’t consider all these misunderstandings between player and casino, It’s 100% true that online casinos really pay out. Every time a player requests, verifies the account, and under condition that he or she hasn’t validated the rules. As you can see, there are only two requirements for the successful withdrawal that results in having real money in your hands.

Do the homework!

Nevertheless, I feel obliged to point out the important things to consider. First of all, you should wonder about payouts before you actually sign up at any online casino. You need to see the proof that your selected online casino is not a fraud. It should be licensed, real and certified. And, please, follow the golden rule of all experienced gamblers – read the terms of an online casino before you register.

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