Online Poker: A Booming Business Model

0
45
Online Poker

Online poker is a hot topic. There’s money to be made on both sides of the table. Maybe you’re tired of grafting and grinding to earn a dollar and feel the time is right to set up your online poker platform. We discuss some of the key elements behind the online poker business model in what is a very crowded marketplace, so what actually makes the best online poker sites successful?

Attracting Players and Keeping Them Around

Given just how crowded the online poker industry is, it can be very tricky to attract and retain customers. Sign-up and new customer bonuses have become a necessity to simply survive. While you don’t want to make losses on introducing new players, you have got to be competitive in the marketplace. There are thousands of competitors out there, but here are the de facto best online poker sites for real money which lead the marketplace just now. Then you’ve got to ensure that the players have a reason to come back without giving them free money or play all the time.

This can be done by offering players a rich variation of poker games to play, whether it’s interesting types like Pineapple, Omaha, or Caribbean Stud, The more games you can execute alongside Texas Hold’em will generate intrigue for sure. Incentives to play and live tournament events are nifty features but try to be original with the output as everyone is already doing similar promotions.

A good way to keep players coming back to your site is to offer loyalty schemes. I.e. if they use the site 100 times, they’ll get some kind of prize or free sitting. You should make it so that by the time they earn the award they’ve already more than paid for the incentive being offered.

Regulation of Location

Unfortunately, there’s no fast and hard rule for all locations when it comes to the governance of online poker. In fact, there are some places like the United States where the devolved authorities make it very confusing on a state-to-state basis. Be sure to understand your market needs by geographic variance as well as the current laws in that location. If the authorities tax online poker to high-heavens it might be worth reconsidering your area of trade.

Make it Easy for Players to Deposit Funds (to Rake it in)

The primary source of revenue for both online and land poker games is the rake. This is the percentage of the pot that the poker operator takes after each round. While usually only a small amount per hand, it tots up over time after consistent play. The busiest online platforms can be consistently earning as they are continually holding online games.

One of the best ways to ensure that you can rake in funds is to make it easy for players to deposit funds on the site. Given that there are many other rival sites out there if there’s a hint of difficulty, players will simply log out and use another provider. This means accepting as many payment methods as possible, PayPal, Debit Card, Skrill, Cashapp, all of them. Making your minimum deposits as low as possible is also a good way to encourage spending. Of course, it has to be profitable for you too.

Another good idea in the contemporary landscape of betting is to offer cryptocurrency usability. There are some online casinos that only deal in crypto given how popular this method is becoming. While it’s an interesting route to go down, it might be worth offering both crypto and traditional money so as not to alienate any potential users.

Sell Add-Ons to Players

While the rake should be your main source of income, it’s worth trying to get more money from those who are gambling on the site. Premium services and experiences should be sold on the site for a pretty penny. Whether it’s offering a better spot in the matchmaking process, access to rooms on better serves or higher traffic, or charging tournament or table entry fees it’s worth selling every possible aspect to the customer. Heck, some sites even charge for the ability to see detailed stats and player record information.

Offer other functionalities

Poker players are looking for more than just the ability to play poker these days. While not mandatory for a poker platform, it is a very good selling point if you can offer other services or games. Whether it’s sportsbook markets or other casino games, offering players a different betting outlet allows you to broaden your reach as well as extend the average play session time.

Some sites even offer live-streaming options of poker events, so that their customers can watch their favourite famous players at the table before trying their hand. Some sites even offer poker training tools that want to make their players better. This can be a great way to attract players as they believe they are getting better at the game while still spending their time and money on your app.

Must Read: Table Poker Vs. Online Poker’s in Australia Main Differences