Online casino: A Business With Special Rules - Warped Factor - Words in the Key of Geek.

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Online casino: A Business With Special Rules

Online casinos are a lucrative business. In 2021, online casinos in the UK had revenues of 2.25 billion euros, an increase of 6.2 percent over the previous year. The Qyto website offers a full list of such casinos, including a Fun casino review. However, running such a casino is not an easy task. On the one hand, the gambling offer itself should not be gambling, but should generate a reliable income. On the other hand, it is associated with strict rules and great responsibility.


Gambling on the internet: the business


Every game of chance is always about probabilities. With six-sided dice, the probability of rolling a 1 (or 2 or 3 ...) is always 1 in 6. If you bet on a certain number in European roulette with numbers from 1 to 36 and the green 0, the probability of winning is 1 in 37. The green "0" is the number on which only the bank wins. This makes up the so-called house advantage. Due to the house advantage, the probability of winning is always slightly higher for the casino operator than for the players. "The (gambling) bank always wins" is, therefore, a common saying for all those who know a little about gambling. But does the bank really always win? Yes, but ...


A few words about the payout ratio


The fact that the saying about the bank always winning is true does not, of course, mean that players cannot win on a gambling day. After all, without a chance for them to win, the offer of online casinos would hardly be attractive. In the long run, however, the operator secures a certain percentage of the staked money as revenue with the house or bank advantage.


The so-called payout ratio, for example, reveals how much of the money wagered by players flows back to the player as profit on average. If it is 98 percent, for example, 98 out of 100 euros are paid out to the players. The casino secures the rest. That has to be enough to cover the costs and make a profit. An online casino has a certain advantage over a stationary casino. Among other things, they do not incur building costs and they can serve more players at once. This allows them to make profits even with low payout ratios.


Marketing and incentive to play


Of course, despite their advantages in terms of probabilities, online casinos still face a major challenge: if nobody plays at their casino, the highest probability is of no use. Casino operators, therefore, have to think about a marketing strategy: just like entrepreneurs in all other industries. In their case, however, the situation is aggravated by the fact that their advertising options are limited for understandable reasons.


On the internet, online casinos rely on affiliate marketing, among other things. Various websites present the offers of the casinos and are rewarded if they encourage internet users to visit an online casino. Many online casinos also offer potential players various bonuses as an incentive to play. However, this alone is not enough. In order to maintain their own attractiveness in the long run, casino operators must constantly create new gaming incentives that go beyond ever new bonuses. The possibilities for attractive digital gaming have increased rapidly in the gambling sector. And many a slot game that excited many just a few years ago hardly interests anyone today.


Online casino operators must therefore regularly scrutinise their game offerings and check whether they still meet the requirements of modern players. In addition, they should regularly inform themselves about the new possibilities that technical progress offers for online gambling. For each potential innovation, they have to calculate costs, assess the attractiveness of the offer and make the best possible decision on this basis.


Rules and responsibility


Online casinos usually operate in an environment characterised either by great uncertainty or by relatively strong regulation compared to other industries. In the UK, they were in a grey area for a long time. Basically, they were prohibited under national law. However, they invoked a European legal basis and were somehow tolerated in the UK for the most part. As a basis for a business, however, such toleration is anything but optimal. With the new State Treaty on Gambling, the UK has now created the possibility of licensing for online casinos, which also offers the casino operators themselves significantly more security. But it also defines clear rules.


Stricter rules exist for the gambling market because there is an increased risk of addictive behaviour here. Gambling can be a very entertaining pastime. But it must be kept within limits. The legislator has now taken various protective measures for this. For example, a nationwide player ban file is to keep players with problematic gambling behaviour away from further gambling.


The state is preaching to the choir of serious online casino operators. They have already taken measures in the past on their own responsibility to ensure that gambling remains what it should be: a bit of a thrill, a bit of a pastime and always something to do for the fun of the game. Living up to this responsibility is also indispensable for online casinos.



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